Credit Unions are not far behind the rest of the industry when it comes to mortgage division layoffs. The Credit Union Times says firms in the space are now deciding how to handle a drop-off in refinance applications.
Wells Fargo cuts another 150 workers in the Charlotte region in North Carolina on top of the 284 employees the company said it was laying off last month. This follows the banks initiative to downsize its workforce as loan refinancing demand falls.
People are listening to real estate economists today in a way that anyone who covered the industry a decade or more ago would not recognize. Smoke is one of the members of this new wave of real estate economists. In fact, Smoke is actually the newest one on the block. The upstart economists at places like Trulia and Zillow are still new, Smoke is just the latest player to join the game..
Typically, for a process and a product that depends largely on human effort, if you want a higher quality product, you have to pay more. The best doctors, chefs, mechanics and attorneys all make more than the market average. Nevertheless, lenders, AMCs and Fannie Mae all expect appraisal quality to increase even as appraiser fees decrease. Read More