I am in the relocation business and some of my client's are with a major mortgage company. I have found out two developements that I thought were interesting to say the least..
The first being the LAYOFF's that are occurring within this company's mortgage writers group. I heard today that about 20% of one department alone got their walking papers because refies and regular mortgages applications are WAY DOWN!!
The second tidbit is what this major company is doing to what I beleive is the big housing crash. With every housing market crash, there will be a huge numbers of foreclosures. Foreclosures in the 1980's really hit mortgage lenders hard but they may have learned from past experience.. What they are planning to do is set up a department within the foreclosure group that will HELP YOU SELL YOUR HOUSE, instead of foreclosing on it..
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