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OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®

Daily Real Estate News  |  November 20, 2009  |   Hiring Boom for Mortgage Restructuring
Mortgage servicers are among the few businesses hiring right now. Loan servicing firms need help restructuring the mortgages of a large number of struggling home owners, and many plan to continue to add staff as the number of defaults rise.

Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo have collectively hired nearly 17,000 people this year, and new companies such as Private National Mortgage Acceptance, or PennyMac, also have been formed to handle loan workouts.

Source: Wall Street Journal, Kyle Stock (11/19/09)

© Copyright 2009 Information Inc.

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