Bank of America (BAC) opened a unit in India to review home-valuation reports as it seeks to rebuild share in U.S. mortgages at a lower cost, said four people with knowledge of the move.
The firm also eliminated jobs of licensed U.S. workers in its LandSafe business, the appraisal division of the Charlotte, N.C.-based financial giant, which made $78.7 billion in loans last year, the people said.
Bank of America shares were down 0.5% in midday trading on the stock market today.
LandSafe, based in Plano, Texas, has more than 2,000 associates in the U.S., according to its website.
Licensed reviewers, who check the accuracy of appraisal valuations and can earn more than $100,000 a year, were among those who lost their jobs, the people said.
Workers in the new Bangalore office follow checklists to determine if appraisals are complete, said the people, who requested anonymity because they weren’t authorized to comment.
Chosen excerpts by Job Market Monitor
via Bank of America Moving U.S. Home Mortgage Jobs To India BAC – Investors.com.
Job Market Monitor 
This design is incredible! You definitely know how to keep a reader entertained.
Between your wit and your videos, I was almost moved to start my own blog (well, almost…HaHa!) Wonderful job.
I really loved what you had to say, and more than that,
how you presented it. Too cool!
Posted by Dallas Movers - Easy Moving Company | September 3, 2013, 6:57 pm