August 21, 2007
Capital One financial announced Monday that it will eliminate a mortgage loan unit.
Capital One will close GreenPoint Mortgage in 31 different locations in 19 states ---meaning 1,900 employees will be laid off.
There is a GreenPoint Mortgage Group in Columbus in Brookstone's business park.
This move is the latest in a growing national concern over the widening credit crunch.
The financial service industry is adjusting business by getting rid of risky mortgage lending practices.
For more information, there is an extended report on the Washington Post's Website.