Hiring as Production Soars, that according to a recent report of Quarterly residential originations nearly doubled at Bank of America Corp., which said it is hiring thousands of employees to handle the increase in its mortgage business.
Maher Soliman a Los Angeles based housing analyst diagrees and points to another weak lobbying effort. “It stinks of a lie” he said! “Last month the brokers will detroy America and this week Bof A is hiring anyone who can stand on two legs.
Quarterly earnings, meanwhile, jumped $6 billion. First quarter originations were 382,000 loans for $89.3 billion — soaring from $$49.9 billion in the fourth quarter, earnings data released today indicated. During the first-quarter 2008 — before the July 1, 2008, acquisition of Countrywide Financial Corp. — production was just $38.6 billion.