BUFFALO, NY - Approximately 130 employees at RSA's Amherst mortgage unit will lose their jobs early next year when RSA Mortgage Solutions, Inc., shuts down Jan. 5 2007, according to Buffalo Business First.
The company is a division of Fiserv Lending Solutions, a wholly owned subsidiary of Fiserv Inc., located in Brookfield, Wis.
The shut-down does not affect RSA Automotive Solutions, another Fiserv unit with about 200 employees that operates from the same location on Main Street in Williamsville.
RSA Mortgage Solutions was created two years ago when Fiserv split in half the local operations at the former Remarketing Services of America, creating a mortgage unit and an automotive unit.
James Puzniak, group president with Fiserv Lending Solutions in St. Louis, said the company will continue to provide mortgage services and products in other product lines in the company.
Many of the 130 employees who will lose their jobs will be offered placements at other Fiserv sister companies, including possibly the existing automotive unit, if positions are available. Puzniak confirmed the company is also talking to Andrew Shaevel, who was president of the mortgage division and co-founder of RSA, about possible opportunities within Fiserv.
RSA co-founder Stuart Angert announced his retirement from the company in May, six months after the split.
Founded in 1991, RSA became part of Fiserv in 2001. The company built a 140,000-square-foot facility in Williamsville, but never reached capacity at the site, which it leases from Ciminelli Development Co. In October, RSA put nearly 30,000 square feet at the site on the commercial real estate market.
Declines in revenues and downsizings in recent years were blamed on business conditions in the auto industry and a change in business strategies.
Puzniak said the company likes the local labor market and will consider moving other units to the Amherst site, if it makes sense. No decisions have been made at this point.