"We believe our long-term opportunity lies in maximizing our more competitive retail channels," Floyd Robinson, who runs the bank's consumer real estate operations, said in a statement.
The cuts affect about 5 percent of the bank's 13,000 employees in consumer real estate.
The Bank also confirmed that Peter Forlenza, co-head of equities, has left the company in the midst of a shake-up at the corporate and investment banking unit, The Wall Street Journal reports.
Forlenza's departure was announced via an internal conference call Wednesday afternoon, just before Bank of America detailed sweeping changes at its global corporate and investment bank. The changes include the ouster of unit executive and vice chairman R. Eugene Taylor, who will be replaced by Brian Moynihan, now head of wealth and investment management.
Charlotte, North Carolina-based Bank of America plans to offer mortgages through its 5,748 branches, where it employs about 10,000 personal bankers. It also has 2,200 mortgage loan officers in 33 U.S. states and Washington, D.C.
Other mortgage lenders have this year also reduced their reliance on brokers, including Wells Fargo , Washington Mutual and Wachovia .
Bank of America made $95 billion of mortgage loans from January to June, ranking fifth nationwide, according to the newsletter Inside Mortgage Finance.
It said it has since May generated more than $50 billion of applications from a "no-fee" product under which homebuyers aren't charged for such things as applications, appraisals, originations, title insurance and flood certifications.