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Mortgage firms retreat with layoffs, closings.
In the latest consolidation to hit the mortgage banking business, New York-based Citicorp Mortgage Inc. has closed its Bay Area office, laid off seven employees and abandoned the West Coast of Florida.
At the same time, Illinois-based Household Mortgage Corp. has also thrown in the towel and will be closing its Tampa office and laying off its six employees.
Elsewhere, several industry sources say ICM Mortgage Corp., one of the Bay Area's largest mortgage companies, has recently laid off as much as 30 percent of its staff. ICM did not return calls.
Citicorp's pullout, the pending closure of Household Mortgage and the reported layoffs at ICM are the most …
