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Report: BB&T axing jobs in residential finance division

Winston-Salem, N.C.-based BB&T Corp. is cutting jobs in its residential finance division, which affected workers and executives, Inside Mortgage Finance reported Jan. 8, citing "multiple sources."

The job cuts started in December 2018 and another round of layoffs are expected in January. Boston Consulting Group, an adviser to BB&T, was a major figure in the layoff plans, according to the report.

Executives who lost their jobs include Alex Jung, a correspondent lending manager; Patty Widerman, an executive at BB&T's Bethesda, Md., office; and Donna Davis, a senior vice president and mortgage market manager in the Virginia Beach, Va., area, the report noted.

There are no exact figures how many workers lost their jobs and a spokesman for BB&T refused to comment on this matter, according to the report.