Small Lenders Have Cut 14,000 Jobs Since June

I guess I don’t understand what these lenders are thinking. That is a lot of people out of work, like the administration keeps saying, the economy keeps getting better, I guess you can spin just about anything in a positive manner, but most of us truly understand the real deal.

This 14,000 number does not include the large and smaller bank numbers that have also terminated many employees.

OK, the amount of refinance transactions have been greatly reduced for most banks and larger lenders. They are losing refinance business to relationship or referral oriented loan officers. We are still seeing refinance business, many of which have attempted to get this accomplished with someone they were referred to. Some of the stories they tell me about their experience is downright embarrassing. I feel bad, but if it wasn’t for these bad experiences we wouldn’t have this business.

I want to put out a plug for my desire to hire additional loan officers. We are licensed in CT, MA, RI, ME, NH, VT, NY and FL. They would need to be referral based, knowledgeable, experienced, honest and have an expectation to getting well paid for what they do and their experience. If you are this person or know a person like what I just described, have them contact me or give me their contact information.