Oh yeah? Thats because JPM employees refuse to work and stay “cozy” in bed. Darwin at work. See pic
Looks like ford got jealous and reported it
HAHAHAHAA
Mortgage lenders have been laying off since last year when the refi boom ended
The mortgage part of the business, is not the rest of the business
It’s affects more pure refi companies like better.com which are good as dead
This has more to do with the housing market no?
Laid off in their mortgage division. Kind of a no brainer tbh given rates are skyrocketing and demand is about to fall off a cliff.
We can only hope re: housing demand People losing their jobs isn’t cool though, of course.
This is the mortgage unit…
Why are people creating FUD with all these posts: Interest Rate ⬆️ -> Average Person Credit Rate Purchasing Potentional ⬇️ -> 🏠 Buy and Sell ⬇️ -> Mortgage 📝 ⬇️ -> So why would company keep running the mortgage division Most employees who work in these divisions are either underwriters or front-line agents.
Really. Higher unemployment -> lower home equity -> lower spending -> lower DFS transaction fees -> lower corporate earnings -> DFS layoffs -> recession and round and round we go until Fed can engineer whatever landing we're in for.
DFS has 6 revenue streams - Credit Card, Discover Student Loans, Discover Personal Loans, Discover Home Equity Loans, Discover Bank (Checking and Savings) and Payment Network. DFS is very diversified as compared to many other financial companies. Also moved to G so much more relived now
So… Where Is The Surprise
This was expected though with recent interest rate hike
That's not good. The only thing people hate more than Meta are bankers, we need these guys to be our shield.
Pretty narcissistic view of situation.
I agree, but mine was just as bad.. although I felt like a jerk immediately after for thinking.. 'I wonder if they will finally stop harassing me for a new mortgage.'