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's main strategy states that the new loan officers will be strategically placed across the nation and will work from local loan hubs and banks. The confusing part is the reasoning for the hiring decision. With the stated justification being that the real estate market could be turning around and beginning to show signs of improvement, JP Morgan simply wants to be in the best possible position for the home loan clientele. That is not an exact quote but you get the idea.
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! - 23222
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's main strategy states that the new loan officers will be strategically placed across the nation and will work from local loan hubs and banks. The confusing part is the reasoning for the hiring decision. With the stated justification being that the real estate market could be turning around and beginning to show signs of improvement, JP Morgan simply wants to be in the best possible position for the home loan clientele. That is not an exact quote but you get the idea.
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! - 23222
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posted by X - Men @ 4:02 AM
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