Cenlar FSB to Close O’Fallon, missouri Facility, Resulting in Layoffs
Table of Contents
- Cenlar FSB to Close O’Fallon, missouri Facility, Resulting in Layoffs
- Details of the Cenlar FSB Facility Closure
- Impacted Roles and Timeline
- Layoff Timeline
- Mortgage Servicing Industry Trends
- Evergreen Insights: Background, Context, ancient Trends
- FAQ
- Why is Cenlar FSB closing its O’Fallon, missouri facility?
- How many employees are affected by the Cenlar FSB layoffs?
- When will the Cenlar FSB layoffs take place?
- What job titles are impacted by the Cenlar FSB closure?
- Where is the Cenlar FSB facility that is closing located?
- What is Cenlar FSB’s primary business?
O’FALLON,Mo. – Cenlar FSB, a New Jersey-based mortgage servicer, is set to close its facility in O’fallon, Missouri, resulting in the layoff of 93 employees. The closure, impacting various roles within the company, is scheduled to be completed by October 31, 2025.
Details of the Cenlar FSB Facility Closure
The company’s facility, located at 1000 Technology Drive in O’Fallon, Missouri, will cease operations on October 31, 2025. A WARN Act notice, filed with the state of Missouri on June 20, detailed the upcoming job losses. The notice did not specify the reason for the closure.
Cenlar FSB informed affected employees of the closure on May 20, 2025. the layoffs will occur in phases, begining on July 22, 2025, and continuing throughout the fall.
Did You Know? The Worker Adjustment and Retraining Notification (WARN) Act requires employers with 100 or more employees to provide 60 calendar-day advance notification of plant closings and mass layoffs of employees U.S. department of Labor.
Impacted Roles and Timeline
The 93 affected workers include a director of compliance, who was laid off on June 17, 2025. Other impacted job titles include customer assistance specialists,mortgage servicing professionals specializing in collections,and loss mitigation analysts.
The layoff schedule is as follows:
- July 22, 2025: 41 employees
- August 21, 2025: 26 employees
- September 23, 2025: 11 employees
- December 31, 2025: 14 employees
Pro Tip: Employees facing layoffs shoudl immediately explore resources such as unemployment benefits, job retraining programs, and career counseling services offered by state and local agencies.
Layoff Timeline
| Date | Number of Employees |
|---|---|
| July 22, 2025 | 41 |
| August 21, 2025 | 26 |
| September 23, 2025 | 11 |
| December 31, 2025 | 14 |
Mortgage Servicing Industry Trends
The mortgage servicing industry is subject to various economic factors, including interest rate fluctuations and housing market trends. Changes in these areas can impact the profitability and operational decisions of companies like Cenlar FSB.According to the Mortgage Bankers Association, mortgage rates have seen considerable volatility in the past year, impacting refinancing activity and servicing portfolios Mortgage Bankers Association.
Evergreen Insights: Background, Context, ancient Trends
The closure of the Cenlar FSB facility in O’Fallon reflects broader trends within the financial services sector, where companies continually evaluate their operational footprint to optimize efficiency and profitability.Such decisions often involve consolidating operations, adopting new technologies, or responding to changing market conditions. The impact on local economies, notably through job losses, underscores the importance of workforce development and support programs to assist displaced workers in transitioning to new opportunities.
FAQ
Why is Cenlar FSB closing its O’Fallon, missouri facility?
the WARN Act notice filed with the state of Missouri did not specify a reason for the facility’s closure.
How many employees are affected by the Cenlar FSB layoffs?
A total of 93 employees will be laid off consequently of the Cenlar FSB facility closure.
When will the Cenlar FSB layoffs take place?
The first layoffs are scheduled for July 22, 2025, with subsequent separation dates occurring throughout the fall, and the final layoffs on December 31, 2025.
What job titles are impacted by the Cenlar FSB closure?
The layoffs affect various positions, including customer assistance specialists, mortgage servicing professionals, loss mitigation analysts, and a director of compliance.
Where is the Cenlar FSB facility that is closing located?
The Cenlar FSB facility slated for closure is located at 1000 Technology Drive in O’Fallon, Missouri.
What is Cenlar FSB’s primary business?
Cenlar FSB is a mortgage servicer based in New Jersey.
What are your thoughts on the impact of this closure on the local economy? How can communities better support workers facing layoffs?
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