Household International is preparing to close or restructure three mortgage units of Beneficial Corp. when it acquires the company, according to an internal memo.

Employees of Beneficial's mortgage operation were notified last week that two units will be shuttered and a third merged into Household's own operations.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.