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Capital One Closes Mortgage Division

Capital One said today that it would close its mortgage division (Greenpoint Mortgage).  Their move to close the mortgage division will involve cutting  1900 jobs across as many as 19 states.  The decision to close Greenpoint will hit the company with close to a $900 million charge.  Capital One’s move comes on the same day that Countrywide said that it has begun to layoff an undisclosed number of employees.

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