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Beleaguered mortgage company slashes jobs

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Mortgage Professional America | 24 Feb 2014, 06:51 AM Agree 0
A mortgage company accused of an illegal kickback scheme has slashed jobs, citing “lower industry-wide demand” in the mortgage business
  • tom | | 24 Feb 2014, 12:08 PM Agree 0
    Bye Bye REFI Business... just Obama stimulating the Country into ruin!
  • Gene Neal | | 24 Feb 2014, 12:32 PM Agree 0
    Time to increase market share no complaints on my end.
  • Cheryl M | | 24 Feb 2014, 12:34 PM Agree 0
    Build a $34mil building, get tax breaks...Thanks Cuomo! Then slash 134 jobs...Thanks Obama! Neither one has done anything good so far is anyone really expecting that to change now? 2016 better have on heck of Republican on the ballet !!!!
  • Cory | | 24 Feb 2014, 02:47 PM Agree 0
    This is a market issue, not an Obama issue. But you'll place the blame where you will.

    It's been said for a long time that refi's would dry-up, and it has. Those who could refi have, though there is still some HARP stuff left if the homeowners will get off the fence about it. However, Wells, Chase and BofA are not strong in the retail channel for home purchases. Their mortgage divisions have survived on mining their current servicing portfolios for refis. Now that's gone and nobody wants to use Chase, Wells Fargo or BofA for a purchase unless they are an employee of one of them. 60 day closings and higher rates and fees do not attract purchase business and the people that control it, the Realtors.
  • Tony Parker | | 24 Feb 2014, 07:15 PM Agree 0
    How in the Jesus name is Obama part of this? Did he sit in their board room to let all the jobs go? Do you blame Obama too when you hit traffic jam?
  • Mohammad | | 25 Feb 2014, 01:06 PM Agree 0
    I dont uderstand why every time a company makes decisions, someone has to blame Obama for it. Its a joke.

    The compnay is being investigated for illegal kickbacks from 2002. Should we blame the Republican party for that?

    No ownership!
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