Taking On Loan Officers Will Help JP Morgan!
Recent news posted stating that JP Morgan was hiring 1200 loan officers at locations all across the nation. Their name may be familiar because when the real estate market first started to crash, JP Morgan purchased mortgage lending giant Washington Mutual for a fraction of their worth with tax payer money. Ringing a bell yet? I thought that it would.
They also went after and managed to buy failed Wall Street competitor, Bear Stearns, who ex-Goldman Sachs honcho Ben Bernanke and Hank Paulson decided wasn't worthy of a bailout.
JP Morgan states that many of the mortgage officers that they are hiring will be stationed and loan centers all across the United States. The part that escapes me is the rationale behind hiring at the point in the economy. The reasoning that JP Morgan has provided for the hiring is to be in the best position to offer the highest quality of service to people who may want home loans when the real estate market improves. They didn't use those exact words, but it does communicate the point.
It all begs the question as to what news is they basing their decisions on? Any particular week, the unemployment figures loom and swell to larger levels than the previous week? That does not make any sense to me, unless they know something not many other people do.
To get to the heart of the matter, I will make my main point. JP Morgan and Goldman Sachs have both been waiting to start lending again to maximize their own profits at the expense of the American consumer and home buyers and sellers expense.
As irrational as this decision seems to be, moves like this frequently predicate an unseen change to the vast majority of ignorant and uneducated onlookers, but to the real big players they tend to indicate a possible turn around in the real estate market for our nation! - 23204
They also went after and managed to buy failed Wall Street competitor, Bear Stearns, who ex-Goldman Sachs honcho Ben Bernanke and Hank Paulson decided wasn't worthy of a bailout.
JP Morgan states that many of the mortgage officers that they are hiring will be stationed and loan centers all across the United States. The part that escapes me is the rationale behind hiring at the point in the economy. The reasoning that JP Morgan has provided for the hiring is to be in the best position to offer the highest quality of service to people who may want home loans when the real estate market improves. They didn't use those exact words, but it does communicate the point.
It all begs the question as to what news is they basing their decisions on? Any particular week, the unemployment figures loom and swell to larger levels than the previous week? That does not make any sense to me, unless they know something not many other people do.
To get to the heart of the matter, I will make my main point. JP Morgan and Goldman Sachs have both been waiting to start lending again to maximize their own profits at the expense of the American consumer and home buyers and sellers expense.
As irrational as this decision seems to be, moves like this frequently predicate an unseen change to the vast majority of ignorant and uneducated onlookers, but to the real big players they tend to indicate a possible turn around in the real estate market for our nation! - 23204
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posted by X - Men @ 4:39 AM
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