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New York Community to slash 224 jobs with sale of mortgage banking biz

New York Community Bancorp Inc. is slashing 224 positions in Ohio in connection with the sale of its mortgage banking business to Freedom Mortgage Corp.

According to WARN notices posted on the Ohio Department of Job and Family Services' website, New York Community Bancorp will permanently shut down its Cleveland, Ohio-based residential mortgage banking business effective Sept. 29.

The Westbury, N.Y.-based thrift will lay off 210 employees in its facility at 1801 E. 9th Street in Cleveland, and 14 employees currently working at 7570 Northcliff Avenue in Brooklyn, Ohio.