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CIT Closes Home Lending


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#1 Sentient Being

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Posted 28 August 2007 - 03:28 PM

this is Da Link
In the end we retain from our studies only that which we practically apply.

~ Johann Wolfgang Von Goethe ~

#2 dasein

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Posted 29 August 2007 - 03:30 AM

We know that the debt is going to be unwound at a fraction of the nominal, and the American consumer will not be able to consume at anything like the previous rate without the help of home equity transfusions, but how many jobs are we talking about in this unwind - mortgage broker/equity loan agent jobs boomed in the past 5 years, and they will go away, as in CITs case, and with them, all the building trades, home improvement trades, etc., not to mention all the jobs in middle class luxury items like tourism and cruises, etc I wonder when this will start showing up in the unemployment figures, and how big the totals might become....any informed ideas from those of you familiar with this sector? TIA, klh
best,
klh