Knutson Mortgage Corp. is shutting down its California wholesale office and will do all its business out of its Minneapolis office.

The consolidation will leave the company with one wholesale lending platform, rather than separate platforms in the two offices. Knutson's San Ramon, Calif., operations will shut down by Aug. 1. Ray W. Sims, president and chief executive, said 49 people in that office will be laid off as a result.

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