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Mortgage lenders are paring staff

2013-09-23 10:08:53 by Sock_puppet_parade

As higher interest rates discourage refinancing and cast doubt on how long the housing market rebound will last. Wells Fargo & Co., the biggest U.S. home lender, plans more than 2,300 job cuts, and JPMorgan Chase & Co. may dismiss 15,000.
For the 16th of the last 18 weeks, mortgage refinance activity plunged (dropping 20% this week alone). Since early May, when the dreaded word "Taper" was first uttered, refis have collapsed over 70%. With mortgage servicers and providers large and small laying people off, it seems hard for even the most egregiously biased bull to still suggest that


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Bonuses are back .. pity about the poor  — Herald Scotland
Even British manufacturing industry is growing again. The UK .. 2013 was the year of zero-hours contracts, short-time working, payday loans, food banks. The biggest growth ..

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Related posts:

  • Avatar J Purchasing a manufactured home on a seismic pier foundation,should I buy?
    Mar 13, 2010 by J | Posted in Renting & Real Estate

    We are considering buying a manufactured home on a great piece of land in an upscale neighborhood for cash. It seems to be a good deal even though I know manufactured homes are looked down upon when it comes to resale value. The title search at the county revealed that next to serial # and HUD label it stated PERMANENT FOUNDATION-18551. If we try to resell the land + manufactured home later, will a mortgage company finance both for a new buyer?

    • The permanent foundation makes it financeable later. But check with a realtor or loan officer to be really really sure.