Morgan Stanley Cuts 1,000 Mortgage Related Jobs
February 13th, 2008 • Related • Filed Under
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Morgan Stanley (MS), the investment firm, is cutting 1,000 jobs in it’s United States and British mortgage departments. The reason is that slowing demand has created excess capacity in these departments.
The move affects 1,000 jobs in the United States and Britain, and will lead to the discontinuation of the British-based residential mortgage lending business Advantage Home Loans.
Morgan Stanley, the latest company to pull back from real estate, will continue to service mortgages in the US through its Saxon Mortgage Services and offer residential mortgages to its retail brokerage clients. via AFP
It probably is a really good time to buy real estate - monthly payments are about equal to market rents ...
The part about the inventory is right on but in my area they are mostly low end and beat up ...
I worked for this man, he is a great con man and has done this in more than States then ...
You're right. If you come from Central Jersey (as the Boss and I do), you go to Florida at some ...
Maybe it was kryptonite...
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By Mike ...
I couldn't agree more.
The newspaper has always "stuck" it to the real estate agent with rates that were much higher ...
By the way, homeowners trying to get short sale approval should be aware that lenders are comparing the initial loan ...
Ouch! Thankfully I haven't come across anything like that yet. We normally don't have situations like that in ...
well, the guy was here illegally.
serves him right. 
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