Monday, October 29, 2007
Get the Word Out
To anyone visiting this page who is experiencing what is happening right now on the job hunt I need your help. Please get the word out to people you know in the same boat of nable to get work because they were in the mortgage business. Get them to come visit this page and post comments etc.. I am looking to do what I can to get "our" fair shake in the media but cannot without the "traffic" to back it up. Its one thing for a potential journalist to see this page or my thread on Implode O Meter and see a few posting of people bitching that they can't get jobs they may think huh interesting. If they see hundreds of responses from people all over the country in this bad situation it will seem more news worthy. As many of us needed volume in the mortgage business the same quota goes from here... I want ot make this topic as legit and serious as possible to get the media attention we need...
Tuesday, October 23, 2007
Need your help
Anyone visiting this blog and is falling victim to the current blackballing against ex- mortgage professionals I need your help. Please let me know of companies you know for a FACT are saying do not hire ex-mtg ppl. If you have been turned away for a job without reason other than the typical we went with someone with better credentials I'd like to know aswell.
Some may ask why? I personally have seen jobs advertised where I am a great fit for and have been shot down without even being given a chance to interview that are posted repeatedly. Clearly they are looking for someone to fill that position but choose not to even contact those of us who ARE QUALIFIED because of our past mtg experience.
But I have been hearing and seeing posts online of people saying they were told by the company they interviewed with that the company isnt hiring any ex mtg ppl yet the poster leaves out the company.... So please help me get the names of these companies.
On another note the stories continue to pop up about what is happening to myself is happening to other around the country. I need to hear more experiences and get as many facts as possible on this horrible situation.
Some may ask why? I personally have seen jobs advertised where I am a great fit for and have been shot down without even being given a chance to interview that are posted repeatedly. Clearly they are looking for someone to fill that position but choose not to even contact those of us who ARE QUALIFIED because of our past mtg experience.
But I have been hearing and seeing posts online of people saying they were told by the company they interviewed with that the company isnt hiring any ex mtg ppl yet the poster leaves out the company.... So please help me get the names of these companies.
On another note the stories continue to pop up about what is happening to myself is happening to other around the country. I need to hear more experiences and get as many facts as possible on this horrible situation.
Friday, October 12, 2007
Misconceptions against ex "mtg people"
I am finding it time and time again of the misconceptions against exmtg profls. I recently attended a job fair where several recruiters there said b/c of the income issue they won't be able to find me anything, mind you I never brought up money. I like many want to go to work and make an honest living and pay my bills. Why is it that people(hr, recruiters etc) automatically jump to conclusions and sign your "career death warrant"?
So listen corporate america
1) Many exmtg profls did honest work and are not crooks, many had nothing to do with the fraud going on and the fall of many companies.
2) Why is it a crime for people to make a good living at a job where the industry is/was boooming? I mean all the former geeks now tech gurus were making a bundle years ago, why didnt you shut the door on them after the tech bubble burst. (Iknow I know there was a lot of unemployment but tech is here and those people were still able to get jobs)
3) Ex mtg profls are not going to drop the job they are trying to get with your company the moment the mtg business turns around! Many got burned and many got humbled plus let me let you in on a secret what happened will never happen again so another mortgage boom is as likely as Osama Bin Laden throwing his arms in the air and surrendering. Do you honestly think the investors who got burned on all those mortgage backed instruments will ever come to the table again and say yea go ahead off 100% financing for someone with no income and no assets (NINA). Eh Eh not gonna happen and we arent going to job hop on you so let it go already.
4) Yes we job hopped and it was done for many reasons from horrible work conditions, lack of product, restrictions of who you can or can't do business with to finding out that you were working for "slave wages" where someone doing identical work as you was making A LOT more. No different than a pharma rep leaving company A to go to B b/c of better perks or company B rolling out a new drug that will shut out A's business. THE SAME DIFFERENCE FOLKS!!
5) Many exmtg profls who were in sales were not order takers it may appear that way especially since at one point it was very easy to sell loans with rates at record lows whether you were wholesale or retail. But let me assure you many had to work their tail off to get the sale because of the fierce competition. You know the same competition advertising, telecom, medical device etc etc reps deal with on a day to day basis. Again its the SAME DIFFERENCE!!!
6) Lets get something straight no matter what industry your in there are crooks, right now mortgage sticks out like a thumb but that doesnt mean the person your interviewing was one of them. Where do you come off judging mself or many of my colleagues and stereotype us. Don't lump us all together, first off find out what they did b/c there are differences with job titles in this business JUST LIKE YOURS. An underwriter in mortgage is no different than an underwriter in insurance same goes for wholesale reps in mortgage they are no different than reps in again advertising, telecom, medical device reps.. outside sales is outside sales the job descriptions are practically identical only difference is product. So dont assume an account executive in wholesale is the same as a loan officer there is a big difference, the rep 9 times out of 10 had no idea what the loan officer or broker was telling the borrower. The same with underwriters they were working with what was submitted to them by processors who in turn received paperwork from the loan officers/brokers. I guess I'm trying to stik up alot for those on the back end who had no borrower contact. But not all loan officers/broker were bad. Its a shame the bad apples ruined for all.
That said think to yourself how can you judge someone when you don't know what it is they did. Talk to them and ask them what business they did. Don't toss a resume or have an undocumented directive to flat out not hire anyone with mortgage experience. Think if it was someone in your family wouldn't you want them to get a fair shake at an opportunity.
Give us a chance, many are on the verge of bankruptcy and foreclosure not because of a bad loan but b/c no one will hire them!
Just think if it was you........
one last thing this was a post I did after speaking with a recruiter cpl days ago and am beginning to nail down the problems ex mtg profl's are encountering, im posting it b/c days apart I was hearing the same thing!
Oct 10, 2007 4:20 am
i just got off the phone with a recruiter who said one of the biggest hangups with employers he deals with is over pay when it comes to finding a new home for ex mtg profl's! the concern ends up being directed as to when the mortgage business comes back the people they hire will leave and go back to it which i believe many on here will not do.. (plus imo the bus as we know it is dead and never will be the same even if there is ever a comeback)
so how can you convey to corp america to take a shot with people that they are done with the business and wont go back?
what can be done to get companies to look past this, this alone is probably one of the major factors why so many of us can't get a job! personally when im asked on type of pay im seeking ill discuss what was posted on the job or do some poking around and bring up what is accepted... i advise many to do this you need to forget mtg pay and go with reality!
at least getting closer to the actual issues, now if there is a way we(the unemployed) could get a voice out there and say hey what your thinking is wrong maybe we can start to find work
these are the hangups we need to find a way around, solution actually, to convince potential hiring mangers to look beyond
1) pay
2) job hopping
3) bunch of order takers that cant really sell
4) 0 ethics(greed which brought on the fraud)
So listen corporate america
1) Many exmtg profls did honest work and are not crooks, many had nothing to do with the fraud going on and the fall of many companies.
2) Why is it a crime for people to make a good living at a job where the industry is/was boooming? I mean all the former geeks now tech gurus were making a bundle years ago, why didnt you shut the door on them after the tech bubble burst. (Iknow I know there was a lot of unemployment but tech is here and those people were still able to get jobs)
3) Ex mtg profls are not going to drop the job they are trying to get with your company the moment the mtg business turns around! Many got burned and many got humbled plus let me let you in on a secret what happened will never happen again so another mortgage boom is as likely as Osama Bin Laden throwing his arms in the air and surrendering. Do you honestly think the investors who got burned on all those mortgage backed instruments will ever come to the table again and say yea go ahead off 100% financing for someone with no income and no assets (NINA). Eh Eh not gonna happen and we arent going to job hop on you so let it go already.
4) Yes we job hopped and it was done for many reasons from horrible work conditions, lack of product, restrictions of who you can or can't do business with to finding out that you were working for "slave wages" where someone doing identical work as you was making A LOT more. No different than a pharma rep leaving company A to go to B b/c of better perks or company B rolling out a new drug that will shut out A's business. THE SAME DIFFERENCE FOLKS!!
5) Many exmtg profls who were in sales were not order takers it may appear that way especially since at one point it was very easy to sell loans with rates at record lows whether you were wholesale or retail. But let me assure you many had to work their tail off to get the sale because of the fierce competition. You know the same competition advertising, telecom, medical device etc etc reps deal with on a day to day basis. Again its the SAME DIFFERENCE!!!
6) Lets get something straight no matter what industry your in there are crooks, right now mortgage sticks out like a thumb but that doesnt mean the person your interviewing was one of them. Where do you come off judging mself or many of my colleagues and stereotype us. Don't lump us all together, first off find out what they did b/c there are differences with job titles in this business JUST LIKE YOURS. An underwriter in mortgage is no different than an underwriter in insurance same goes for wholesale reps in mortgage they are no different than reps in again advertising, telecom, medical device reps.. outside sales is outside sales the job descriptions are practically identical only difference is product. So dont assume an account executive in wholesale is the same as a loan officer there is a big difference, the rep 9 times out of 10 had no idea what the loan officer or broker was telling the borrower. The same with underwriters they were working with what was submitted to them by processors who in turn received paperwork from the loan officers/brokers. I guess I'm trying to stik up alot for those on the back end who had no borrower contact. But not all loan officers/broker were bad. Its a shame the bad apples ruined for all.
That said think to yourself how can you judge someone when you don't know what it is they did. Talk to them and ask them what business they did. Don't toss a resume or have an undocumented directive to flat out not hire anyone with mortgage experience. Think if it was someone in your family wouldn't you want them to get a fair shake at an opportunity.
Give us a chance, many are on the verge of bankruptcy and foreclosure not because of a bad loan but b/c no one will hire them!
Just think if it was you........
one last thing this was a post I did after speaking with a recruiter cpl days ago and am beginning to nail down the problems ex mtg profl's are encountering, im posting it b/c days apart I was hearing the same thing!
Oct 10, 2007 4:20 am
i just got off the phone with a recruiter who said one of the biggest hangups with employers he deals with is over pay when it comes to finding a new home for ex mtg profl's! the concern ends up being directed as to when the mortgage business comes back the people they hire will leave and go back to it which i believe many on here will not do.. (plus imo the bus as we know it is dead and never will be the same even if there is ever a comeback)
so how can you convey to corp america to take a shot with people that they are done with the business and wont go back?
what can be done to get companies to look past this, this alone is probably one of the major factors why so many of us can't get a job! personally when im asked on type of pay im seeking ill discuss what was posted on the job or do some poking around and bring up what is accepted... i advise many to do this you need to forget mtg pay and go with reality!
at least getting closer to the actual issues, now if there is a way we(the unemployed) could get a voice out there and say hey what your thinking is wrong maybe we can start to find work
these are the hangups we need to find a way around, solution actually, to convince potential hiring mangers to look beyond
1) pay
2) job hopping
3) bunch of order takers that cant really sell
4) 0 ethics(greed which brought on the fraud)
Thursday, October 11, 2007
Ex mortgage professionals... where do we go now for work?
Since Aug I have been posting on a thread about getting a job outside of the mortgage industry. What I have found is that if you worked in the mortgage industry regardless of what you job you held you will more than likely have an impossible time getting a job outside of the mortgage industry. I am in fact saying that mortgage people are being blackballed.
It's a very bold statement to make but i have talked to many people on and offline. Many argue and say no there is just a shortage of jobs, I disagree as I'm on many job sites everyday there are plenty of jobs out there. I have applied on avg to a dozen jobs a week in line with what i did for the last three years which was outside sales. Couple that with a bachelors degree and prior work experience equaling 10 yrs there is no reason someone like myself should be unemployed going on 7 months! Yes thats right I have not been able to get a job for 7 mos, that said one can't tell me that my prior mortgage experience isn't a factor. There are various reasons but one of the most obvious from my standpoint for this problem is the heavy stereotyping....
But let me make something clear to those ex mortgage people reading this many of you are going to have to accept that the life you knew is over as far as job duties and money. Some jobs in the business were way to specialized and there is noway to tranfer over what you did into other industries.
What I will do on here in the near future is repost some of my posts from the most heavily viewed thread on the implode o meter message board. I don't want to rewrite things and think its better to post things in their original context etc. I'll alsoi go over the sterotyping and hopefully get some input from you the readers on how we can overcome whats going on. There is a lot of bad press against this indutry which in turn falls on our heads. One of my goals on this blog is to get the word out and bring attention to this b/c as the days go on it will get worse. Articles are now popping up about the rise in unemployment within the industry. Problem with these articles(very few of them) is that they have yet to discuss what myself and many ohers are seeing and hearing when its come to being on the job hunt.
It's a very bold statement to make but i have talked to many people on and offline. Many argue and say no there is just a shortage of jobs, I disagree as I'm on many job sites everyday there are plenty of jobs out there. I have applied on avg to a dozen jobs a week in line with what i did for the last three years which was outside sales. Couple that with a bachelors degree and prior work experience equaling 10 yrs there is no reason someone like myself should be unemployed going on 7 months! Yes thats right I have not been able to get a job for 7 mos, that said one can't tell me that my prior mortgage experience isn't a factor. There are various reasons but one of the most obvious from my standpoint for this problem is the heavy stereotyping....
But let me make something clear to those ex mortgage people reading this many of you are going to have to accept that the life you knew is over as far as job duties and money. Some jobs in the business were way to specialized and there is noway to tranfer over what you did into other industries.
What I will do on here in the near future is repost some of my posts from the most heavily viewed thread on the implode o meter message board. I don't want to rewrite things and think its better to post things in their original context etc. I'll alsoi go over the sterotyping and hopefully get some input from you the readers on how we can overcome whats going on. There is a lot of bad press against this indutry which in turn falls on our heads. One of my goals on this blog is to get the word out and bring attention to this b/c as the days go on it will get worse. Articles are now popping up about the rise in unemployment within the industry. Problem with these articles(very few of them) is that they have yet to discuss what myself and many ohers are seeing and hearing when its come to being on the job hunt.
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