Thousand Milwaukee workers will soon have to look for new job for them because of improving mortgage delinquencies.

One of the Milwaukee-based Wells Fargo departments concentrated on foreclosures, short sales and collections. Wells Fargo also focused on issues that were a sign of the failing economy. But there is a possibility that the US can finally hit a tipping point. Jobs are recovering. It means that now people can pay for their homes. Business of real estate agents, staffing agencies, and manufacturing companies are increasing.

"They're looking for people who might have had some experience in some of these lending areas that could come over into the production side of the company and to operations side of the company that are now today experiencing higher volume of new business", said Vice President of Wisconsin Mortgage Corporation John Inzeo.

About 2,800 people in the Milwaukee area are employed presently and about a third of their employees have to look for new jobs. An announcement has been made by the company that it is going to remove jobs and close its Milwaukee office. According to Wells Fargo, it is reducing employees because fewer homeowners are falling behind in payments.

Wells Fargo notified that the Milwaukee office is one of its smaller loan servicing sites. The company's home lending business employed 48,000 people. About 265,000 work for the company. Employers in the US have included over 5 million jobs over the last two years.

Economy of the US rose in seven of the last eight quarters covering 2013 and 2014 but some clue is there that growth has gotten weaker this year. The company said that any decision to decrease their workforce is not easy. The announcement has been made so that team members could get enough months to plan for this change.