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People dropping like flies

Nimrod

Nimrod

Time to rethink my everything
Joined
Dec 19, 2006
Messages
1,061
Location
about a mile off the coast
I am currently employed at Country Wide. I do most tech stuff, so I am not in the know-how of the mortgage business and practices. The company as a whole is getting ready to be bought out from B of A.

If we can tell what will happen to Country Wide through B of A history. It will tell us, everything gets moved to North Carolina. In other words, we in California have a very dim outlook.

Back in Sept/Oct, Countrywide did a 20% decrease in workforce. Boy, was that intense to watch! Then again in Feb. our department did another %10. Now people who are left are finding jobs in other companies.(good for them). We are losing very talented people and we are losing them fast. 3 people in the past week are quiting in my department. These are not slackers, but very good talented people that would be missed.

You are probably thinking, why am I sticking around? Well, because I am doing the latest technology stuff, and that looks good on the resume.

It's a war zone over here.
 
You can thank the lenders.

(ok - this could turn political...if not nasty)


So - what smurfy said: just do your thing and good luck!
 
My g/f is an underwriting manager for CountryWide. What a frickin' zoo that place is. Poorly run, poorly managed, unbelievable demands put on the remaining staff. She'd love to get out of there, but there is just nothing similar available in our area.
 
I'm saving money like a mofo right now, I expect a bunch of cheap bank repossessed homes to hit the market in six months, right after my wedding so I should be getting a home and a tax break this year! Woot
 
Its not just the mortage brokers how are feeling the squeeze, real estate agents are too. I am myself am a lowly public servant, but my angel of a wife does the real estate dance. A lot of people who, on paper, can afford a mortage can not get financed because a lot of lenders are being over/more cautious to people with questionable credit histories.

The really kicker is that in our area of Ohio, she has had a few properties go to contract only to find out that the apprisial (sp) was to low. Basically, even though the lender said that the buy was pre-approved for the amount need, the house wasn't worth that, so the deal was off.

To everyone out there, keep on keep on.
 
I know the song to well. Make yourself valuable but watch out for NUMBER ONE! I'm a Mortgage Banker here in Dallas and for awhile it was tough, things are starting to turnaround now for us. I have great access to new programs because I am a direct lender. Times are difficult but it just takes extra work. Not to sound like a plug BUT: I have a program for FHA Refinance Customers that is no cost and gets them to 6% if they qualify by making their last 12 payments on time (or since the loan was originated), I don't even look at scores or income. Hosh - I'm putting people like you into homes on a weekly basis, CASH is KING! (yes I do offer BOTL deals)
I can get Teachers, firefighters, police etc into homes at 1/2 price. I'm busier than a one armed paper hanger, but it's starting to pay off! Heads up.
 
Rebel Herfer said:
I know the song to well. Make yourself valuable but watch out for NUMBER ONE! I'm a Mortgage Banker here I can get Teachers, firefighters, police etc into homes at 1/2 price. I'm busier than a one armed paper hanger, but it's starting to pay off! Heads up.
Click to expand...

Is that a Texas thing or a Federal one? I know there is a program around Ohio, but that is generally on HUD homes that are usually in less desrible neighborhoods.
 
Good luck to you. My wife left Wells Fargo Mortgage in December and it was just a matter of time before she was either eliminated or reshuffled. She keeps in contact with some of her underwriters and they are busy as hell but understaffed.
 
Nimrod - which office do you work in? Calabasis?
 
Hope everything works out.

For those of you in I.T. I have 3 words for you.

MEDICAL INFORMATION TECNOLOGY!!

I have been involved in Medical I.T. for 15 yrs. It is an always changing environment ,So you are always up to date on technology based around Healtchcare. And it is recession proof. There will always be a need to treat sick ppl and the Big Hospitals and Ins. companies wont be going anywere anytime soon.

-PACS systems Admins/Networkers is the big thing right now. Every speciality will eventually go to some sort of PACS system.
Radiology
Cardiology
Nuclear Medicine
Pathology

We are in the process of upgrading our simple PACS system into a multi-clustered server environment that will be capable of handling +100K exams a year. With TB worth of space for back-up and archiving.
 
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