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An exact reversal of action is taking place now in this post-boom housing market. Large companies began acquiring many mortgage lenders and increasing employees when times had been good. And why not? Times were good and the mortgage industry was brining in lots of money. But times have changed now. What began as employee expansion and a bright future for mortgage companies 2-3 years ago has now reversed. Firms are now selling off (if possible) or closing subprime divisions and laying off employees. In an article entitled “Wall St. losing subprime lenders” in the Philadelphia Inquirer, 1,200 people lost their jobs … (0 comments)
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