Rock Financial Corp., a Bingham Farms, MI-based mortgage finance firm, will close most of its branches and focus on its online direct mortgage business, according to Reuters.
Rock will close and consolidate 12 of its remaining 15 branch offices, the company said, adding that it hopes to offset any loss of revenue from the branch consolidation with reduced operating expenses over the next 12 months.
The company did not say how many jobs would be affected by the closings.
“With this move, our transformation from a branch-based business to one focused on the Internet and our call center is nearly complete,” Daniel Gilbert, chairman and chief executive of Rock, said in a statement.
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