Bloomberg News
Published: September 10, 2007
NEW YORK: The worst U.S. housing slump in 16 years may lead mortgage companies to eliminate almost 100,000 jobs this year, more than double the number already cut since January.
As many as 20 percent of U.S. real estate loan officers and mortgage brokers will be fired, according to Josh Rosner, a managing director at Graham Fisher & Co., an investment research firm in New York.
That is in addition to the 10 percent reduction from December to July that thinned their ranks to 450,000, as many investors stopped buying mortgages and lenders curtailed financing to avoid rising subprime defaults.
http://www.iht.com/articles/2007/09/10/business/prime.php
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