How many .com jobs were lost 2000 - 2003? Wonder if the massive layoffs (and just walk-aways) that's starting to happen within the Real Estate Industrial Complex will make that number pale in comparison?
Mortgage Layoffs Continued in December
Mortgage companies trimmed 1,400 full-time employees from their payrolls in December, following 2,000 job cuts in November.
The U.S. Bureau of Labor Statistics reported that employment in the mortgage banker/broker sector declined to 500,900 in December from 502,300 in November.
BLS previously reported that mortgage firms shed 200 employees in November. But a year-end benchmark revision now shows that companies actually were more aggressive in cutting their payrolls.
Overall, industry employment averaged 489,900 in 2005, compared with 467,700 in 2004. In the past few weeks, MortgageWire has reported on layoffs at prime and subprime lenders alike, including Ameriquest Mortgage, Argent Mortgage, Aurora Loan Services, BNC Mortgage, ECC Capital Corp., and Countrywide Home Loans
February 04, 2006
Aw, I'll sure miss the little guys... Mortgage Layoffs Continued in December
Subscribe to:
Post Comments (Atom)
6 comments:
I have a bet with my wife (her mother is a realtor in S Florida) that before this is over some guy who bought 7 condo conversions that are cashflow negative and now underwater by at least $75k each will walk into a realty office and shoot 8 people. I told her mother to get out of the biz and do something else, because by 08' (if not earlier), realtors will have the worst reputations in this country.
What happens if you win that bet?
This is all another example of the market heading for a "soft landing" and "cooling" just a bit and "returning to normal". REAL ESTATE INDUSTRY PROPAGANDA abounds and is being parroted again and again by the MEDIA who is too lazy to do their own investigation! TO the MEDIA reader of this blog, look at this as your
PRESS RELEASE on the housing market!
I'm just glad I got the heck out of the mortgage industry period. Believe me, some of my former co-workers are still in denial. It's better to jump ship while its still near the shore.
I am here because of search results for blogs with a related topic to mine.
Please,accept my congratulations for your excellent work!
I have a stock class paintball site.
Come and check it out if you get time :-)
Best regards!
Find The secret to the secret at http://loans4bills.com/. If you want to find out how you can get bad credit home loans mortgage refinance 2nd mortgage help visit us
Post a Comment