USAA will shift about 120 positions in its mortgage operations from an office near Dallas to offices in Tampa, Fla., and Phoenix.
The $70 billion-asset USAA will ask employees in its Addison, Texas, office to move to either Tampa or Phoenix, company spokesman Roger Wildermuth said. USAA will pay relocation expenses and employees can pick whether to move to Phoenix or Tampa.
Employees who choose not to move to either Arizona or Florida will be provided with severance assistance, including separation benefits and career transition services, Wildermuth said. The employees were notified Sept. 14. The relocation was first reported by the Dallas Morning News.
USAA will move mortgage processors and closers to offices that house mortgage originators, where they will be co-located alongside other mortgage professionals, he said.
"We really think this a way to improve the home buying experience for our members," Wildermuth said. "In order for us to make that true, we need to co-locate certain teams within the larger mortgage team."
USAA, which is based in San Antonio, may hire new employees in Phoenix and Tampa to fill the positions of those who don't move, he said. USAA does not have a projection of how many employees will choose to relocate.
USAA will keep about 210 employees at its Addison office, mainly those in financial planning and advice, or mortgage underwriting. USAA also employs about 240 workers in nearby Plano, Texas.