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Nearly 90,000 mortgage jobs eliminated (2007)

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Couch Potato

Elite Member
Joined
Mar 15, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
That's 90,000 people who no longer order appraisals.
 

Mike Kennedy

Elite Member
Joined
Sep 28, 2003
Professional Status
Certified Residential Appraiser
State
New York
12/31/2007 dow jones, nasdaq, s&p annual

Nero fiddled while Rome Burned aka Funny Money ........ while more than 100,000 financial services sector employees hit the bricks for Christmas.....

-------

"Despite recent turbulence, U.S. stocks look set to finish the year higher. Year-to-date, the Dow is up about 7 percent, the S&P 500 is up about 4 percent, and the Nasdaq is up nearly 11 percent."


http://money.cnn.com/2007/12/31/markets/markets_nyopen/index.htm
 

Mike Kennedy

Elite Member
Joined
Sep 28, 2003
Professional Status
Certified Residential Appraiser
State
New York

Scott Kibler

Elite Member
Joined
Oct 7, 2003
Professional Status
Certified Residential Appraiser
State
Illinois
I wondered why the service has suddenly been really good at Taco Bell.
 

Lee in L.A.

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
That's 90,000 people who no longer order appraisals.

No. Some of those were appraisers. :shrug:
 

Jimbob Mudd

Freshman Member
Joined
Jan 8, 2008
Professional Status
Certified Residential Appraiser
State
North Carolina
The best I've experienced was Homegate/American Home Mortgage going bankrupt. They got me for $11,000 in fees that I know they collected prior to filing but now I have to go thru the bankruptcy procedure to collect. And to chafe the wound, they have chnaged their corporate name and are buying back the business minus the outstanding debt.
 
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
Jimbob, I wondered who was doing all those deep discount appraisals for Homegate.

American Home was one of our best accounts until they opened HomeGate. We wouldn't accept the lower fees.

In essence, the bankruptcy just changed the amount of the discount from 25% to 100%. I'm sympathetic anytime an appraiser gets the shaft from the likes of an Americah Home. I'd be even more sympathetic if they were not discount appraisals reports.
 
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