JPMorgan Chase Cuts Thousands of Positions in Mortgage Lending Sector – IOTW Report

JPMorgan Chase Cuts Thousands of Positions in Mortgage Lending Sector

CTH:

There are going to be multiple negative economic indicators surfacing in the next 60 days as the first wave signals of a deep and prolonged recession begin to reach shore. Think of it like an economic meteor that hit the mid-Atlantic while only a few people were tracking its inbound trajectory and prepared for what was likely.

We are not likely to see much good economic news, but on the positive side, most readers are prepared.   Again, I will repeat… If you did not purchase a home this year, you are already ahead financially.

Housing sales are dropping fast, but housing values are, on a regional basis, holding steady – for now.  However, the banks and lending institutions are preparing for those values, and the contained equity, to drop and disappear precipitously.

Today Bloomberg is reporting that JPMorgan Chase is shifting around 1,000 employees in the mortgage side of finance with some being laid-off and others being reassigned to different parts of the bank and financial services.   This should not come as a surprise, but it does align with other less noticeable moves in the banking and home loan sector. more

There’s more-

Report, Tech and Finance Sector Reversing Job Offers for College Grads.

11 Comments on JPMorgan Chase Cuts Thousands of Positions in Mortgage Lending Sector

  1. IN ADDITION TO WHAT IS ABOUT TO HAPPEN, THESE ASSHOLES WILL NOW DO WHATEVER THEY CAN TO PILE ON AND BRING THE HOUSING MARKET TO ITS KNEES

    SOCIAL JUSTICE, DONCHA KNOW????

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  2. F Joe Biden, clap clap clap-clap-clap, F Joe Biden, clap clap clap-clap-clap …

    This is what happens when you vote for a senile psychopathic liar and a bunch of communists.

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  3. I’m an old dude,have no family that needs my assistance and i can make it through the rest of my life unassisted.
    What worries me is those kids you see in the strollers walking through town,smiling,laughing,just generally having a good time and the love on their mothers faces.
    Fuck the Market!

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  4. They’re a week behind Wells Fargo. They dumped 10,000 loan officers last week. Way to go Joe. Yea, this is all intentional.

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  5. Redfin laid off a bunch of real estate agents last week. For fun, I look up and watch houses in Idaho, Montana and Wyoming. Lotsa price drop alerts now from markets that were super hot.

    Seattle area? I dunno. Redfin is based in Seattle…

  6. Verified Fact: Both Bloomberg and JPMorgan Chase are just two associates of the sinister nazi and race-hater George Soros, who has affiliations with the democrat party and globalists. Much of what the Soros Conspirators issue is nothing more than fear-mongering, violent fear-and-panic tools used to scare up people such as seen with the previous scamdemic and Biden’s recently promised-threatened “second pandemic”. Fear and illusions has always been used by despots, tyrants, reprobates, miscreants, and scammers.

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  7. Hard to feel sorry for banks that donate heavily to the communist, oopsy daisy, skuze me, the democrat party.

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