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Are jobs in this industry on the rise? Are there any sub-sectors that are growing?

Where are the jobs? Which places have the most mortgage underwriter opportunities?

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Neicy in Plainfield, Illinois

93 months ago

I believe the mortgage industry is in a bust. I have been laid off twice within the last six months. I believe the market is very volatile right now. I have been looking for a job as an underwriter since the first week of November and not found a job as of yet. I know alot of my friends have been laid off recently within the last two weeks.

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Sandy in Spring, Texas

93 months ago

Neicy said: I believe the mortgage industry is in a bust. I have been laid off twice within the last six months. I believe the market is very volatile right now. I have been looking for a job as an underwriter since the first week of November and not found a job as of yet. I know alot of my friends have been laid off recently within the last two weeks.

I would agree. I'm being laid off from job as an underwriter in Houston. I've been in the business since 1983, and have never seen it this bad. Several companies have closed their doors. Lots of mortgage professionals looking for work, and a bad time of year. I am in sub prime. I think the stated income market has caused a lot of issues with delinquencies in the secondary market. Investors are cracking down.

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Alexandra in West Orange, New Jersey

86 months ago

I was laid off a couple of months ago and it has been impossible to find a job. This is the first time I see the market getting to this point. If anyone knows of an Underwriting position I will appreciated very much if you can contact me. naestacio@yahoo.com

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sle in Spring, Texas

86 months ago

I was laid off in February, and finally had to take a job in another line of work. It's really bad out there and you may not find anything for awhile.

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Mia in Denver, Colorado

78 months ago

Neicy in Plainfield, Illinois said: I believe the mortgage industry is in a bust. I have been laid off twice within the last six months. I believe the market is very volatile right now. I have been looking for a job as an underwriter since the first week of November and not found a job as of yet. I know alot of my friends have been laid off recently within the last two weeks.

I am in exactly the same situation in Denver, Colorado. The very few companies hiring, are being so selective; i.e., only one collection allowed on credit????; college degrees; etc. I have been out of work since Sept. 2007; run out of Unemployment; no solution in sight!! Since I have over 20 years experience (sole supporter) in the mortgage industry, other fields are hesitant to hire me; I can't even get an interview! We underwriters (unemployed) network and we know of one of our peers who is currently living out of her car! None of us can seem to find her lately. It's the worst "slam" against our kind in history. I am FHA and VA delegated, and even that doesn't seem to help a number of us who have been out of work for 6 to over a year now, for one of my friends!! I wrote to our local governor but who knows if he'll even read my letter. I expressed that Governor Schwarzenager had signed a bill for programs to help unemployed mortgage people!! The rest of you need to do the same!

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sle64 in Spring, Texas

78 months ago

I also have over 20 yrs experience in mortgage and as an underwriter. I got laid off in Feb of 2007. After a few months I decided I was going to start over in a new field. I am now working for a grocery company. Had to start at the bottom, but after 9 mos I am now in training for mgmt. I think everyone should re-think trying to get back "in" for now as it will never be the same again. Think of starting over...the sooner the better. Then you can move on.

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jjohnson in Livonia, Michigan

77 months ago

Mia in Denver, Colorado said: I am in exactly the same situation in Denver, Colorado. The very few companies hiring, are being so selective; i.e., only one collection allowed on credit????; college degrees; etc. I have been out of work since Sept. 2007; run out of Unemployment; no solution in sight!! Since I have over 20 years experience (sole supporter) in the mortgage industry, other fields are hesitant to hire me; I can't even get an interview! We underwriters (unemployed) network and we know of one of our peers who is currently living out of her car! None of us can seem to find her lately. It's the worst "slam" against our kind in history. I am FHA and VA delegated, and even that doesn't seem to help a number of us who have been out of work for 6 to over a year now, for one of my friends!! I wrote to our local governor but who knows if he'll even read my letter. I expressed that Governor Schwarzenager had signed a bill for programs to help unemployed mortgage people!! The rest of you need to do the same!

Slam on Underwriters?? Explain then why all these people are in loans that they cannot afford today?? Rates are still historically low. Someone underwrote them, no?? You made the credit decisions. And please do not hit me with the politics of it. You had the power to say no. Another poster here indicated that he was making up to $11K per month. Pretty extragavant salary, must have approved a lot of loans. Did all of that $11K come from his employer??

Sorry to sound harsh, but please give me a break. I work for an auto finance company, underwriters or credit analysts get $25K per year with an automated system making all the decisions. This way senior management can see what's going on at all times. We have very low delinquency. Good Luck.

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Mia in Denver, Colorado

77 months ago

The underwriters don't write the guidelines or set the Lender/Investor parameters or policies unfortunately; if you had asked any underwriter a few years back, we all foresaw this demise in the mortgage industry. Once again it was the greedy corporate leaders who set these rules and policies. All we do is "our job"; underwrite according to the set guidelines and policies. You, Sir, give us too much credit; or in this case, "accountability". Since we've been in the industry for so long (I raised two kids on my own), it's very difficult to change fields this far along; ask any underwriter.
You shouldn't criticize what you don't understand.

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B in Aurora, Colorado

77 months ago

Mia in Denver, Colorado said: The underwriters don't write the guidelines or set the Lender/Investor parameters or policies unfortunately; if you had asked any underwriter a few years back, we all foresaw this demise in the mortgage industry. Once again it was the greedy corporate leaders who set these rules and policies. All we do is "our job"; underwrite according to the set guidelines and policies. You, Sir, give us too much credit; or in this case, "accountability". Since we've been in the industry for so long (I raised two kids on my own), it's very difficult to change fields this far along; ask any underwriter.
You shouldn't criticize what you don't understand.

Mia, I agree with your point....I am also unemployed underwriter thanks to poor management in Denver....Management, investors, realtors and brokers threw the 4c's of credit and ethics out the window to make quick buck......You either approved the way management and Account Execs wanted or you looked for new job...I previously did lending in the auto industry for large bank and to compare the two is like apples and oranges....

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Mia in Denver, Colorado

77 months ago

Thanks, B in Aurora. Remember the days when the underwriter used to have the final say, based on gut instinct and she was backed by the agencies since, after all, it's the underwriter who makes the decisions! That went away a long time ago, and these managers/brokers/account reps; etc., started taking over the decision making, the agencies and lenders turned their heads. In fact, because all they saw was the dollar sign, they also pressed for approvals regardless, or they'd hold your jobs over your head. And you're right; underwriting car loans is a lot different than mortgage loans.
Hang in there, it does appear business might be picking up a little bit. I've had two interviews in the past week; that's more than I've had in months! Good luck.

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jjohnson in Livonia, Michigan

77 months ago

Mia in Denver, Colorado said: The underwriters don't write the guidelines or set the Lender/Investor parameters or policies unfortunately; if you had asked any underwriter a few years back, we all foresaw this demise in the mortgage industry. Once again it was the greedy corporate leaders who set these rules and policies. All we do is "our job"; underwrite according to the set guidelines and policies. You, Sir, give us too much credit; or in this case, "accountability". Since we've been in the industry for so long (I raised two kids on my own), it's very difficult to change fields this far along; ask any underwriter.
You shouldn't criticize what you don't understand.

All we do is "our job"?? That's a cop out. No, it's more like you are afraid to stand up to your sales force. Your hands are not clean in this mortgage fiasco you are in. A good underwriter should be able to go outside the box, in the same token stand up for what is right and not burying some $50K per year guy in a $300K mortgage loan on a interest only ARM.

Bottom line this real estate thing is a mess, consider another career. Try accounting.

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Mia in Denver, Colorado

77 months ago

Sir, it sounds like you may have personal issues. I'm sorry if your job in the car sales business doesn't pay as much as the mortgage business. Either way, if you were in the mortgage field, you'd still be in the Sales side I suspect, and you'd still be the culprit; not us in the underwriting field which requires analytical skills. You are bitter and feel you have to blame someone for your job choice (or maybe you had no choice). You still don't get it and you may keep trying to drive your point which doesn't make sense from an Underwriter's stand point. We as underwriters have standards we abide by; any Lender or Investor can look up my underwriting record with HUD, VA, FNMA or FHLMC; my hands are clean. I've stood up to the marketing/sales side plenty; which is why I can still say I'm a good underwriter. Are you a good Car Salesman? You're still a car salesman.

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jjohnson in Livonia, Michigan

77 months ago

Mia in Denver, Colorado said: Sir, it sounds like you may have personal issues. I'm sorry if your job in the car sales business doesn't pay as much as the mortgage business. Either way, if you were in the mortgage field, you'd still be in the Sales side I suspect, and you'd still be the culprit; not us in the underwriting field which requires analytical skills. You are bitter and feel you have to blame someone for your job choice (or maybe you had no choice). You still don't get it and you may keep trying to drive your point which doesn't make sense from an Underwriter's stand point. We as underwriters have standards we abide by; any Lender or Investor can look up my underwriting record with HUD, VA, FNMA or FHLMC; my hands are clean. I've stood up to the marketing/sales side plenty; which is why I can still say I'm a good underwriter. Are you a good Car Salesman? You're still a car salesman.

If you think that Underwriting requires any extensive education or specialized degree you are sadly mistaken. Credit is credit and is really an entry level job for most people in finance until they get their experience. Why are you insulting another profession, I never said I was a salesmen? Please quit with the inflated sense of self as an underwriter. Take your transferable skills and move on to something else. I would not put the mortgage industry to far above the automotive industry.

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B in Aurora, Colorado

77 months ago

Sir, you so missed informed it is unbelievable. I stood up to sales all day long, everyday...but when the Regional Center Manager, Regional Sales Manager, Regional Operations Manager, and the Account Executive are standing at your desk breathing down you neck saying we are going to approve, or we will find someone who will...(hmmm keep my job--pay my mrtg and feed my kids, or be unemployed) don't have much choice......"a good u/w needs to think outside box"....that is joke, majority of the mortgages out there now where done outside the box because that is what the Lenders wanted, Investors ate them up like candy, and brokers/AE pushed for them. Does not take an idiot to realize a barista at starbucks making $60k year stated is not a good deal,I said no on this deal, but management bought it..guess what showed up on the First Payment Default report???? The best u/w in the world is as only as good as the credit policy and guidelines that they are given and the management above them.....this is not cope out, many u/w that have been around the block are very skilled and know there jobs very well....but when there is as much deception, fraud and poor leaders making bad decisions out there,

I don't buy your point your making....You should do a little more research...check into www.mortgageimplode.com and you will have an eye opener as the number of good Mortgage Co that bought into the greed and are now out of business....

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murphman in Ohio

77 months ago

I agree with Johnson. Easy on the personal stone throwing, the poster brings up a legitimate point and you get defensive over the state of the mortgage industry and act like a victim. Think about all these homeowners who are now in a bad situation.
Just like car sales or anything else you have good people and not so good people. You obviously have a bias against salespeople. Why is that?
I do not think that biases make for business(aka:underwriting) decisions, do you?

Anytime times get tough there will always be finger pointing. I have heard there is minimal regulation or licensing in the mortgage industry. You point out all these fancy sounding designations, are these degrees or some easy certification from a training class. Try taking state exams and have to renew a license every two years with 40 credit hours on your own time.

I work in the insurance industry in sales. Oh no I must be scum in your eyes. I am regulated to the hilt and LICENSED, ethical, and will turn away a policy sale if not written in the best interest of my customer. The last thing I need is some hacked off customer because I did not educate them on their policy to have them later wonder why it won't pay off. How many people will they tell. The same applies to mortgages.

Respectfully, please get over yourself.I hope you can find a successful career endeavor. Regards.

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Mia in Denver, Colorado

77 months ago

Obviously I've touched on several nerves without intending to do so. I believe Mr Johnson was the one on the defensive and at this point, I will end it. Good luck to you Sir and please don't respond any further. This is the "Mortgage Underwriter Forum"; I was joining in on comments shared by other underwriters who could relate to our state of the industry. I prefer to not engage in more offensive manner against the industry and leave it at that.

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B in Aurora, Colorado

77 months ago

Murphman, I agree with your point that personel stone throwing thing is bogus... I'm not trying to defend the mortgage industry, it is a victim of its own greed and deception...I would say though that anybody working in the operations side of the mortgage industry is a victim to some point, as are the homeowners that were mislead...had the mortgage industry been better regulated as per say Banks or Credit Unions,(or had some regulation at all) maybe the issues could have been manageable....I have a problem with sales people yes....but majority of it comes from dealing with used and new car dealers, Account Exec(Mortgage), and the Brokers(Mortgage).....most of them I would say are unethical.....The mess has not hit bottom yet, or have we seen the fall out into other fields of business...hope this mess does not hurt your business, but unfortunately you may see some of the fall out...

best wishes for future success....

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murphman in Ohio

77 months ago

Didn't know this was such a select group. Sorry I'll go away. My only advice in job searching for what it is worth, you very have a lot of good skills that you do not have to wait this mortgage thing out. Opinion is it's not coming back anytime soon, party's over. And I would re think some of your statements regarding lenders in general and how you may have made some approvals under duress (sp?). Keep to what you do best. Banks and Insurance companies are very adverse to risk. Remember there are a lot of angry, hurting people out there. Johnson may be one of them who got duped, can't blame the guy for his feelings if the case. Good luck.

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sle64 in Spring, Texas

77 months ago

I think we all need to move on...it was what it was and now it's over. I've started over in another field and have been on that job for 9 months now. Starting at the bottom again is not easy, but it's what I had to do. We should not wait around for things to be the same as they never will be.

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murphman in Ohio

77 months ago

B in Aurora, Colorado said: Murphman, I agree with your point that personel stone throwing thing is bogus... I'm not trying to defend the mortgage industry, it is a victim of its own greed and deception...I would say though that anybody working in the operations side of the mortgage industry is a victim to some point, as are the homeowners that were mislead...had the mortgage industry been better regulated as per say Banks or Credit Unions,(or had some regulation at all) maybe the issues could have been manageable....I have a problem with sales people yes....but majority of it comes from dealing with used and new car dealers, Account Exec(Mortgage), and the Brokers(Mortgage).....most of them I would say are unethical.....The mess has not hit bottom yet, or have we seen the fall out into other fields of business...hope this mess does not hurt your business, but unfortunately you may see some of the fall out...

best wishes for future success....

Ever stop to think that the real culprits are the realtors and not the loan officers? You could almost insinuate some price fixing/collusion with them. The lenders who were desperate to stay in business had no choice and Mia who is also from where you are felt compelled to play along fir the fear of her job(no disrespect).

Anyways, I am done. I have been asked to leave this forum and will do so at this time. Good luck.

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Kelly in Charlotte, North Carolina

77 months ago

15 Years Undewriting Mortgage Loans who has spent the last 8-months working as an REO Asset Recovery Manager (Selling Foreclosure Properties for the International Banks)
No, No, NO - realtors are not setting the market prices and more than the loan officer, title company, lenders or the appraisers can. These are completely false statements. There is and will always be a supply and demand factor to the real estate market. Think about it - There is only so much Land on the planet- but the population continues to grow... demand is still exceeding supply.
The whole situation is a tragedy that will take many years to recover from. What used to be the American Dream of homeownership has turned to an American Nightmare. Many people have already been impacted in one way or another because of what does boil down to one thing -- CORPORATE GREED. Don't think for one minute that those International Banks that I am selling the Foreclosures for now are not taking those HUGE Losses with a giant smile. They are getting federal money to bail themselves out and reducing their taxable income/assets at the same time. We all need a plan like that.
I personally took a stand with my prior employer and was fired immediately for not being willing to accept an altered payroll statement. It's not pretty being accused of insubordination simply because you were doing the right thing. But it does happen.

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Vicki in Cleveland, Ohio

76 months ago

Mia in Denver, Colorado said: I am in exactly the same situation in Denver, Colorado. The very few companies hiring, are being so selective; i.e., only one collection allowed on credit????; college degrees; etc. I have been out of work since Sept. 2007; run out of Unemployment; no solution in sight!! Since I have over 20 years experience (sole supporter) in the mortgage industry, other fields are hesitant to hire me; I can't even get an interview! We underwriters (unemployed) network and we know of one of our peers who is currently living out of her car! None of us can seem to find her lately. It's the worst "slam" against our kind in history. I am FHA and VA delegated, and even that doesn't seem to help a number of us who have been out of work for 6 to over a year now, for one of my friends!! I wrote to our local governor but who knows if he'll even read my letter. I expressed that Governor Schwarzenager had signed a bill for programs to help unemployed mortgage people!! The rest of you need to do the same!
I was laid off in Cleveland Ohio several months ago. Severance is running out, so unemployment, here I come. I don't have FHA or VA experience,since that is the new Subprime these days. Still looking, hoping for a miracle

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24 yrs experience in Rushville, Indiana

76 months ago

jjohnson in Livonia, Michigan said: Slam on Underwriters?? Explain then why all these people are in loans that they cannot afford today?? Rates are still historically low. Someone underwrote them, no?? You made the credit decisions. And please do not hit me with the politics of it. You had the power to say no. Another poster here indicated that he was making up to $11K per month. Pretty extragavant salary, must have approved a lot of loans. Did all of that $11K come from his employer??

Sorry to sound harsh, but please give me a break. I work for an auto finance company, underwriters or credit analysts get $25K per year with an automated system making all the decisions. This way senior management can see what's going on at all times. We have very low delinquency. Good Luck.

FYI, Just like in any other job, an Underwriter is employed to follow the rules/guidelines of the company's management. If you are employed as a cabinet maker, you make the cabinet per the requested specifications. As an Underwriter, yes, you make credit decisions, but you MUST FOLLOW THE GUIDELINES GIVEN TO YOU BY MANAGEMENT. MANAGEMENT made the decisions to use guidelines that would put people in homes they couldn't afford.

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Mia in Denver, Colorado

76 months ago

Thank you, "24 Years Experience in Rushmore". I have found work now, thank goodness. And I like the way this company has opted to follow good old fashion guidelines (old school underwriting!); the way it should be. We look at the borrower's past credit history, saving ability, income and ratios with a lot more scrutiny than some of the other companies we've seen. I'm happy to say that Wellsfargo was one of few companies that didn't fall for the old "sub-prime" gimick and there were quite a few angry brokers because we didn't offer those other programs. That's one of the reasons they managed to stay ahead of the game. And you're right, the underwriters don't have anything to do with writing the guidelines. Those start at the top by huge investors. They're the ones that do the trading; money changing. The lenders purchase this money based on their programs & guidelines; we have to learn them and stay on top of the changes - we have no choice but to follow them. Underwriting is what I enjoy doing and prefer not to change fields; I suffered for it and am still not totally out of the hole. I enjoy helping people get their dream home but would never deliberately put someone in a situation they cannot afford. I could lose my designations as a government underwriter if I made unethical decisions in order to make the company $. We also get a lot of grief when we decline a loan and cost some loan officer their commission. We make a lot of enemies in our field, but sometimes, there are some grateful borrowers who mean to stay in their homes and make their payments and don't always get the brightest underwriters to help them make their loan work. You have to remain unbiased at all times and be as fair as you can. I have walked away from small companies who placed too much pressure on their underwriters because we refuse to approve loans which, in my opinion, should not be approved.

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24 yrs experience in Rushville, Indiana

76 months ago

Ditto on all that you've said! Many times I tried turning down loans, but told I was being too picky and asked why was I trying to make problems, even when there were indications that fraud could be involved. And, I easily lost a lot of incentive/bonus pay, because I took time to actually review the loans instead of blindly approving them. What is the culture like at Wells Fargo? A friend recommended that I apply for a position in quality control there - I really don't like reviewing loans after they are closed, but things are looking quite bad where I work now (10th largest bank) with another top manager having just given her notice.

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Mia in Denver, Colorado

76 months ago

Wellsfargo seems to be doing well; it's not so much that the market is turning, but they're capturing the business from other "failing" big banks. They seem to be thriving and hiring more underwriters. I would think the same is taking place in other states. You might want to go to their website and look for postings in your area. I'm all for helping where I can. I've also seen a little more activity in various "job sites"; i.e., Ladders.com; Indeed.com; Careerbuilders; Job.com... One of these is how Wells found me. Can't tell you what a releif that was. Post your resume throughout these sites. If you don't want to be bombarded by a lot of "junk mail", create another email just for this purpose, and be patient. Good luck.

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24 yrs experience in Rushville, Indiana

76 months ago

Mia in Denver, Colorado said: Wellsfargo seems to be doing well; it's not so much that the market is turning, but they're capturing the business from other "failing" big banks. They seem to be thriving and hiring more underwriters. I would think the same is taking place in other states. You might want to go to their website and look for postings in your area. I'm all for helping where I can. I've also seen a little more activity in various "job sites"; i.e., Ladders.com; Indeed.com; Careerbuilders; Job.com... One of these is how Wells found me. Can't tell you what a releif that was. Post your resume throughout these sites. If you don't want to be bombarded by a lot of "junk mail", create another email just for this purpose, and be patient. Good luck.

Thanks so much for passing on the info

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Darnell Nesbitt in Chicago, Illinois

75 months ago

Mia in Denver, Colorado said: I am in exactly the same situation in Denver, Colorado. The very few companies hiring, are being so selective; i.e., only one collection allowed on credit????; college degrees; etc. I have been out of work since Sept. 2007; run out of Unemployment; no solution in sight!! Since I have over 20 years experience (sole supporter) in the mortgage industry, other fields are hesitant to hire me; I can't even get an interview! We underwriters (unemployed) network and we know of one of our peers who is currently living out of her car! None of us can seem to find her lately. It's the worst "slam" against our kind in history. I am FHA and VA delegated, and even that doesn't seem to help a number of us who have been out of work for 6 to over a year now, for one of my friends!! I wrote to our local governor but who knows if he'll even read my letter. I expressed that Governor Schwarzenager had signed a bill for programs to help unemployed mortgage people!! The rest of you need to do the same!

Hello. Please contact me as soon as possible. I was a underwriter at Argent Mortgage and I will like to speak with you further regarding your expereinces mentioned above. I understand totally how you feel from experiences as well. I'm having a talk discussion that will be in front of a live audience with intent to take the talk show discussion regarding the mortgage meltdown and how the industry professionals are having such a difficult time obtaining work and loosing everything they worked so hard to obtain because of the downsize in our industry. I am very interested in speaking with you at your earliest. Please feel free to contact mt your earliest so that I can expound on everything I mentioned in my reply to your blog entry. Darnell Nesbitt 773.268.3636 email: nesbittnesbitt@yahoo.com

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Darnell Nesbitt in Chicago, Illinois

75 months ago

Neicy in Plainfield, Illinois said: I believe the mortgage industry is in a bust. I have been laid off twice within the last six months. I believe the market is very volatile right now. I have been looking for a job as an underwriter since the first week of November and not found a job as of yet. I know alot of my friends have been laid off recently within the last two weeks.

Hello. Please contact me as soon as possible. I was a underwriter at a major sub-prime lender and I will like to speak with you further regarding your expereinces mentioned above. I'm having a talk discussion that will be in front of a live audience with intent to take the talk show discussion regarding the mortgage meltdown and how the industry professionals are having such a difficult time obtaining work and loosing everything they worked so hard to obtain because of the downsize in our industry. I am very interested in speaking with you at your earliest. Please feel free to contact mt your earliest so that I can expound on everything I mentioned in my reply to your blog entry. D.Nesbitt 773.268.3636 email: nesbittnesbitt@yahoo.com

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Darnell Nesbitt in Chicago, Illinois

75 months ago

Sandy in Spring, Texas said: I would agree. I'm being laid off from job as an underwriter in Houston. I've been in the business since 1983, and have never seen it this bad. Several companies have closed their doors. Lots of mortgage professionals looking for work, and a bad time of year. I am in sub prime. I think the stated income market has caused a lot of issues with delinquencies in the secondary market. Investors are cracking down.

Hello. Please contact me as soon as possible. I was a underwriter at a major sub-prime lender and I will like to speak with you further regarding your expereinces mentioned above. I'm having a talk discussion that will be in front of a live audience with intent to take the talk show to the press. A discussion regarding the mortgage meltdown and how the industry professionals are having such a difficult time obtaining work and loosing everything they worked so hard to obtain because of the downsize in our industry. I am very interested in speaking with you at your earliest. Please feel free to contact mt your earliest so that I can expound on everything I mentioned in my reply to your blog entry. D.Nesbitt 773.268.3636 email: nesbittnesbitt@yahoo.com

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murphman in Ohio

75 months ago

Are all mortgage companies "churn and burn" when it comes to UW's? I know someone who got hired only to get fired two weeks later with no explanation. That person gave 110% everyday, and yes made a few mistakes but learned from them everytime. There was a lot of pressure to stretch income especially when it came to OT. Either some broker got hacked off at some denial or the place had little tolerance for a learning curve and my good friend was shown the door. If all mortgage companies were like this one, who in their right mind would want to be a mortgage underwriter?

Respectfully,

Murphman

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Mia in Denver, Colorado

75 months ago

I know in Colorado they don't have to give you a reason. Many times if your immediate supervisor or someone part of a "click" doesn't like you, usually that's all it takes. It's become very cut-throat; everyone is competing for security - to the point where it's nauseating to see people "schmoozing" management sometimes, just to stake their position.
People like myself are saddened by this as I'm one of the ones that actually like what I do, but as you've noticed, it's become very hard to feel like you can make a living and feel secure no matter where you are.

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murphman in Ohio

75 months ago

Thanks. We live in an "at will employment" state too. My friends guess was "business political". She had declined a few deals that she was getting pressure to "reconsider" her decision by sales. In addition, the assistant UW manager was not all that friendly and often openly complained when other UW's askd for her assistance.

However, the company is trying to enforce a one year "non-compete" that was signed at the time of hire. They heard my friend applied at another mortgage company and sent her a nasty letter. She was not hired.

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Mia in Denver, Colorado

75 months ago

It's pretty brutal where I work, too. If someone has it in for you, whether it's jealousy, pure hate, or just out of plain spite, you're on your own! No one wants to risk making waves on your defense. You just hope and pray their attention will go to the next "new person" or "under-dog".

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murphman in Ohio

75 months ago

Don't hang on too long, life is too short not to try other things.

My best and good luck to you!

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sandy in Spring, Texas

75 months ago

My wish is that everyone is able to move on from the mortgage business and try something new.....easier said than done I know. The best of luck to you all!

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Colin Martin in Indianapolis, Indiana

74 months ago

Mortgage Reps / Realtors, I am a realtor and something amazing is happening in Indianapolis.

A friend of mine won buyer agent of the year 2007 for FC Tucker the largest firm in Indiana using a new identity theft program and networks of national attorneys tools backed by NYSE companies.

He closed 12 deals last year with buyers that couldn't get approved. He created a 6 step program to create a buyers pool and now there are 400 realtors following the systems in Indy alone. You can earn referral fees every week just for helping your clients. Everything is done over the phone including credit disputing. Approved by our board of realtors, Re-max, and several builders.

Be happy to give you more info, other mortgage reps are using too.

Email me colinpmartin@yahoo.com

Best wishes, Colin Martin

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murphman in Ohio

74 months ago

SPAM!!!! There is no real legal way to eliminate or disguise bad credit. You make make lemonade out of road apples. The lenders are wise to these programs. If something is getting by them then it becomes a case of fraud. Who wants to get implicated in something like that????

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Reid in Huntington Beach, California

73 months ago

I am 55 years old and I have been in the lending Industry for over 30 years. From working for a Commercial Bank to owning my own Mortgage Banking Corp. with a partner. This is the worst time I have ever seen in this Industry. I have read all the comments on this blog. But the big picture is that all the Lending Groups have gotten too greedy and stupid about their lending practices. What ever happened to common sense underwriting and stand by the underwriter final decision?

I have been doing Contract Underwriting as an Auditor, D.D. and Quality Control person for Sub-Prime, Alt-A and Prime Loans for the last 12 years. I have worked for several well known Companies in the past 12 years and it just blows me away when you tell them this loan is bad, their remark to me is, can you fix it that we can put it on the Secondary Market. I told them that there is no way this loan should have been made. But their remark is that we made some good money on this package and we need it to go to the Secondary Market, fix it somehow. I guess a majority of the bad loans that are Auditing or Quality Control are loans that made good monies for this Companies that are now having problems with the Investor.

Yes I know there are alot of stupid power crazy Managers in this Industry. Those are the people that think they got more knowledge and experience then anyone else in the world, but they don't have any Common Sense at all that I have encountered.

My problems are that I am 55 years old with over 30 years of knowledge and experience along with Common Sense that tells me that the Industry has lost its way. The old mighty Green Back is ruling this business and that knowledge, experience and Common Sense are taking a back seat for right now. Hopefully soon there is a Corporation or Company that will look at my assets of knowledge, experience and Common Sense that I can help in these hard times that the Industry is going through.

I wish everyone good Luck in the future.

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