Mortgage Employee UpdateI just wanted to follow up with those who were laid off from the mortgage industry? Any luck finding jobs so far? If so, what type of jobs? Any positive tips to share so we can all benefit? I too was laid off from the mortgage industry and now looking to change careers. I' ve sent out numerous resumes but the response rate seems to be pretty sluggish. I' m guessing most employers are not hiring at the end of the year and if anything, probably hiring for the beginning of next year. Its tough, but I' m staying hopeful - we have to. For all those who are feeling hopeless and frustrated, keep your head up. No matter what condescending comments outsiders, recruiters or anyone else has to say, we all know that we came from a GREAT industry which required many dynamic skill sets from organizational, analytical, communication, negotiation and so much more. We just need to be creative in re-inventing ourselves. Don' t sell yourself short because we have much to offer. I too was laid off 8/3/07 from American Home Mtge due to bankruptcy, as you might have heard. I' m in my late 50' s and been in management positions for most of the last 25 yrs. Some contract work in recent yrs. Thought AHM was the answer, but look what happened. No Luck on job search either, Only had one interview and for a lower paying job. They (Citi Financial), never returned calls after interview, very unprofessional. But I' m sure age was a factor and they didn' t want to discuss that issue, so they never responded. I' ve applied for a dozen or so non-banking jobs, but never a response. So changing industries doesn' t work either. I' m at my wits end, and more than halfway into my unemployment benefits. Any insight for me? Me, too! Me, too!!! I was hopeful but now...I' ve been out since early summer and really just started looking. It' s awful out there, I can' t even get hired at my favorite department store! I' m feeling irritated to say the least, I' ve got over 10 years of really great experience and have been told how many "transferable skills" I have. I' ve been looking outside of the mortgage industry but no luck. I think I submitted my resume' to about 15 different companies yesterday alone: health, recruiter positions, bio tech and a couple of lesser paying mortgage jobs. I was feeling hopeful but now all I want to do is...cry. Crying won' t help, but I understand how you feel. The mortgage industry is in such a mess, and it seems that there is a stigma attached to us. Nobody will even consider us for other jobs. I know of quite a few people from AHM that are still out of work and have very good credentials. There' s definitely a stigma associated to us which makes it all the more challenging. I' ve experienced a few myself. A colleague of mine made a good point when he was given the full court press in his interview (also an ex-mtg employee). He pointed out that perhaps some employers purposely press the "mortgage issue" during interviews just to see how we respond, break down or keep our composure. I never thought of it that way but it made sense. Although there are also those senseless interviewers whose motives are a bit more questionable. Another great way to over come this stigma is to network with EVERYONE and ANYONE you know. I did that when I was laid off from other mortgage companies earlier in the year and it kept me from having any job gaps. The only thing that is a bit more challenging is that I' m switching industries now, but I think the same strategy is still strong. Networking will definitely bypass your resume possibly sitting in a stack of hundreds of applicants fighting for the same job. My whole department is being eliminated on January 11,2008. There are about 60 of us. I am a mortgage underwriter. I have retail and wholesale experience. My most recent job was in wholesale. All of our deals came from brokers. We also did retail lending through Lending Tree and about 20 other sites. I have applied for several jobs so far, and your right- no responses. Just requests to take on line assessments. I think you will hear something after the holiday season. They may not be looking to add staff until February, after they get their 2008 budget forecast underway in January. I am also tired of this- laid off 3 times in this industry since 1999. I am looking to enter the insurance field as an underwriter trainee or claims adjuster. But that requires training and more education. Hang in there. Try looking into the insurance field. Like you said, our jobs in the mortgage industry require a lot of skills that employers are seeking. The good new is that you can bounce back. Good luck to you, and happy holidays. | |
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Career Tips
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