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More job losses in the mortgage industry

By
Real Estate Appraiser with AmcAppraisalsinc.com

MortgageOrb.com just released this article http://ht.ly/2aIrJ indicating that Wells Fargo will be closing its financial stores and exiting the non-prime lending arena.

What is most striking is not the lack of loans offered (since less than 2% of loans were originated in the Wells Fargo Stores) - but rather the loss of 2800 positions in the next 60 days and 1,000 positions during the next year!

Think people in the Real Estate and mortgage world need to be working on a back up plan in live?   I know I am!

Do you have a back up plan?  Or do you have a "reaction plan" or a "crisis management" plan?

In today's markets, weather we are appraisers, Realtors, or mortgage originators, underwriters, etc - there is one truth........

There is NO job security.
We are ALL self employed in one manner or another.

I call my customers "clients".  You might call them "buyers".  Or you might call them "borrowers" or you might call them "boss".

Whatever your category - we are all in the same boat.  Customers, buyers, clients, bosses....they can all move to another provider at any time.

Ok, ok.....so what is the GOOD news?

Here it is.....YOU Have control of YOU.  You can choose to plan, prepare and take the reigns of your own destiny.  You can effect the change in your own life BEFORE others do it for you.

Chew on that for a while.  It may scare you at first...but in the end.....it just might empower you too!

Comments (1)

Dan Benefield
Benefield Realty - Decatur, GA

Good post there Richard. Things that seem a little scary now may be just the thing we need to grow. Have a great day.

Jul 13, 2010 02:26 AM