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Mortgage jobs slashed nationwide

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Mortgage Professional America | 27 Aug 2013, 06:09 AM Agree 0
After a huge hiring boom in the first quarter, the mortgage industry saw massive layoffs in Q2 due to declining delinquencies and stagnating refinancing activity
  • John Defrancisco | | 27 Aug 2013, 09:54 AM Agree 0
    The banks simply slash numbers like brushing their teeth. 2008 all over? Can't find a mortgage job to save your life. Good luck to all and good night to some. Round 2 is going to be worse.
  • Kevin Bacon | | 27 Aug 2013, 12:13 PM Agree 0
    Why stay in an industry that pays just 100% commission to LO's, nickel and dimes you on expenses and marketing, pay obscene salaries to management, provide no support and lay off people whenever Bernake burps?? No other industry treats their professional sales people this way!!! Let's start a UNION!!
  • jps | | 27 Aug 2013, 01:09 PM Agree 0
    I cant' think of another profession that gets shafted like LOs. Their the scapegoat for the sub-prime crisis, they pay some of the highest licensing fees to mulitiple regulators. Most only get paid when a mortgage closes. Their expected to work for free much of the time and unlike the big banks and government, must put their client's best interest before their own. "such a deal"
  • jps | | 27 Aug 2013, 01:15 PM Agree 0
    When you consider the Federal and State testing requirements for independent LO's and fidicuary requirements in some states, along with commission only compensation in many cases, the volatile nature of the interest rate market, "babysitting" deals for months, borrower cancellatons etc... I mean is it worth it ? You know eat, drink and sleep this business for too many years - pay a shrink for life; Not for the faint of heart !
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