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The Boston Globe

Business

Bank of America cutting thousands of mortgage jobs

Bank of America is cutting about 4,200 jobs as it responds to changes in the housing market, echoing moves by other banks.

The country’s second-largest bank laid off 1,200 employees this week, primarily from a unit that handles mortgage origination, company spokesman Terry Francisco said. He said the move is a response to a ‘‘significant’’ drop in refinancing applications that has occurred since the middle of this year.

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