HORSHAM, Pa. GMAC Mortgage Corp. has announced that it will close its National City, Calif., servicing center in November.
The move will force the layoff of 450 people, a spokeswoman said late Wednesday. The company cited the cost of doing business in Southern California as the prime reason for shuttering the National City center, one of its four nationwide.
In the next six months, the company is to merge the National City operation into the remaining three, in Waterloo, Iowa; Horsham; and Shelton, Conn.
