BRIEF: National City Mortgage to adopt PNC name |
By Tim Tresslar, Dayton Daily News, Ohio Nov. 6--MIAMI TWP., Montgomery County -- National City Mortgage on Saturday, Nov. 7, will change its name to PNC Mortgage to reflect its ownership under Pittsburgh-based PNC Financial Services Group, executives said. Sy Naqvi, president and chief executive of National City Mortgage, said the name change will have no impact on the company's mortgage-servicing operations in Miami Twp. While Naqvi did not give specific numbers, he said the Dayton operation has continued to add employees to handle demand for new mortgages and mortgage refinancings as well as arranging loan workouts for troubled borrowers. In August, the bank told state officials it planned to eliminate 74 jobs at its Miami Twp. mortgage business, with the majority of those cuts coming by Dec. 28. The reductions are part of a PNC's companywide effort to slash 5,800 positions over two years. PNC in its August letter to the Ohio Department of Jobs and Family Services said it still plans to employ more than 1,000 at its mortgage operation. PNC Financial Services acquired Cleveland-based National City Corp. in December for $5.6 billion. ----- To see more of the Dayton Daily News or to subscribe to the newspaper, go to http://www.daytondailynews.com . Copyright (c) 2009, Dayton Daily News, Ohio Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA. NYSE:PNC, NYSE:NCC, A service of YellowBrix, Inc. |
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