Real Estate Causing More Bank Layoffs 2023

Real Estate Causing More Bank Layoffs 2023. Bank including US bank, Bank of America, Chase Bank are reporting less mortgage sales causing cost cutting which include layoffs.

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[dragonfly]

I just made my last mortgage payment, Thank God! 😊

[chrisrossman]

The company I work for, It is correlated with the housing market. Its like someone just turned off the faucet. Orders just stopped coming in.

[CountryTesla]

Fired US Bank 2 years ago when denied a camper loan from my perfect credit score wife's bankruptcy 18 years earlier. Took the whole enchilada to a nice small town bank. Massive improvement!!!

[jamesd.]

I have been watching ninja for two years now and when I say 99% of everything stated in past videos has came to fruition- it has or you are starting to see the chips fall. Great content as always and truly appreciate the information that is FREE to us to decipher and see.

[frankm]

I have a friend that is a loan officer for US Bank. They are mega stressed. They are still employed, but actively looking for another job.

[WoodcliffCommunity]

I manage a 300 home facility in Northern NY. We have seen a rush of tier 1 credit coming in to rent homes which is unusual, at least for our area. Typically consumers with high credit scores were buyers, not renters. We usually see low to mid 600's applying for rental homes, but now, high 700 to 800's are not uncommon. Very atypical for our industry. Stay frosty my friends, opportunity is right around the corner.

[EconomicHousewife]

Yup I work at Schwab and they released a company wide email a couple of days ago saying they would be doing "position eliminations" aka layoffs. They sugarcoated it by saying that most of the cuts would be at the top of the pyramid (managers, middle managers etc.). So there's a mixture of complete bliss from the people who really believe that, and a lot of nerves being racked from the ones who knows what's really coming bc they've been in layoffs before and/or know the dire state of the economy.

[AUDIOSWAMP]

I noticed Wells Fargo was selling off a lot of their housing loans to another company last week !! They are going liquid on a lot of their loans

[scamdemic]

Global leaders, politicians, big banks, and elites knew this was going to happen. Can't have the "new" without destroying the old

[peggymcguire]

Just checked stock performance of my regional bank, Huntington Bank. It’s down (as of 10:50 today) 1.90%. Roughly around 11.65. It’s fluctuating.

[jeromehenry]

US Bank is 5th largest bank in America (by assets valuation). Many smaller regional banks use US Bank products/services, similar to "co-branding". They are considered one of the most conservative banks in regard to getting approvals, even on credit cards. When mortgage lending takes a hit due to economic downturn, title companies are extremely quick to slash employees (no loyalty to employees whatsoever). However, most banks will take a measured approach to lay-offs because it isn't so easy to find people to hire when economy turns back around. My "spidey sense" tells me if US Bank is already publicly announcing large layoffs in its mortgage lending division, then their conservative management team is expecting this upcoming downturn to be very deep & protracted.

[michaelf]

I saw it coming, as i watched everyone working 2 jobs to keep buying houses, I waited and bougt mine after market crashed, you just dont keep paying 500 dollars for something worth 100, has to crash.

[LandCruiserMidwest]

Homes just topping off here in North Illinois . About to head downward - just a matter of how far and fast !!!

[melodybaudino]

In northern Michigan and our little world community I like your 22 years and every little hole in the wall cabin has been bought and has multiple cars around it. The Welldrillers are so busy because most of the places didn’t even have water supply to them. I don’t know how they’re going to do the winter . Most are not insulated well enough. It has caused prices to double just about all properties. Our little town has had trouble managing the extra people.

[rv]

Ninja, I love your channel, but I have to tell you in NJ the prices are continuing to go up. It is crazy. I feel like I will never be able to catch up with them.

[SqueegeeKidNoMore]

I saw a tweet saying some people are paying $7, 000 mortgages. Their rationale?? “We will re-fi when rates go back down…”

I have no sympathy for people who make decisions like that…

[asarunesuamunrebey]

The term you forgot Beloved was Invoice Financing. Invoice financing is an accounting method that lets businesses borrow against their accounts receivable to generate cash quickly. With invoice financing, a company uses an invoice or invoices as collateral to get a loan from a financing company.

[Angel_eyes___]

Ninja the big lender is failing. I have family in the mortgage industry Dan Gilbert Rock financial is buying out employees, voluntary lay offs, closing out parts of his company. I wish on disability income which is horribly low i could of afforded your course. Another great video. Worried about trucking industry. It is the first indicator of how the economy is doing. I know fleet owners selling there trucks to try to survive.

[albrow]

Honestly im wondering how low the foreclosure auctions will get. My aunt set up a trust fund for me from my grandfather so i have money in there that my aunt said is for buying a home. If i bought a foreclosure i wouldnt need a mortgage and could own a home debt free.

[michaelmcdonald]

Peter Schiff saw it coming in 2006. Gold was in the 550 range.