It was announced that with the layoff of over 8,000 mortgage and lending industry employees in California, that the Feds have made a grant available of over 5 Million dollars to help. This money will be used with some state funds to help retrain those affected.
I am sure it would be difficult to have "former sub-prime mortgage expert" on your resume when job searching. I really feel for all those folks and their families and hope that they locate acceptable jobs soon. I wonder what kids of jobs they will be trained for? These are white collar employees.
On a local note I have seen a lot of employees changing mortgage offices and several banks streamlining and centralizing their mortgage departments. Hope that isn't any indicator of negatives on the horizon.
Have a prosperous week!
Trey
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