Saturday, September 8, 2007

The biggest mortgage lender in the United States, Countrywide Financial, says it is making big job cuts.

US mortgage lender slashes jobs

The firm expects new mortgages to fall by 25% in 2008, compared with 2007. "During the past two years the growth in home price appreciation has stopped dead in its tracks," wrote Mr Mozilo in a letter to staff, "and in many areas of the country it has turned in the wrong direction."

Posted by pdp @ 01:12 PM (400 views)
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One thought on “The biggest mortgage lender in the United States, Countrywide Financial, says it is making big job cuts.

  • dohousescrashinthewoods says:

    Is it me or did this guy not read the disclaimer “wrong direction” implies there is a right direction, but “the value of your assets may go down as well as up” so he is either simple or has been breathing his own spin.. 😉

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