How long do you think it will take for the Arkley obsessives to celebrate local job loss?
EUREKA, Calif., April 7, 2011 – SN Servicing Corporation, a member of the Security National family of companies, announces today that it will reduce its workforce by 49 positions, including 31 employees in its Eureka headquarters.
The reduction in force reflects the upcoming expiration of one of its contracts to manage portfolios of home mortgages currently owned by a large national financial institution. SN Servicing Corporation has managed the portfolio since 2009.
“We are currently in negotiations with several large financial institutions to assume management of additional mortgage portfolios,” said Sandra Austin, Senior Vice President of Loan Administration.
Security National has several operating subsidiaries that specialize in Insurance, Real Estate Investment, Mortgage Investments, and, during the past three years, Managing Mortgages and Real Estate owned by Financial Institutions and Government Agencies.
“While we have seen conditions improve in our Commercial Real Estate and Insurance divisions, our third-party servicing portfolio continues to be affected by reduced volumes of home loan originations and whole loan trading activities due to current market conditions,” said Ron Williams, Chief Operating Officer.
Founded in 1987, SN Servicing Corporation specializes in providing distressed home owners flexible solutions and personalized service with the goal of keeping them in their homes.
For more information on SN Servicing Corporation, visit http://www.snsc.com or e-mail firstname.lastname@example.org.