Grant to Help Mortgage Workers
Former employees of mortgage lenders in California who lost their jobs following the subprime lending meltdown will have an opportunity to be retrained for positions in growth industries, such as healthcare and biotechnology.
The state has received a grant from the federal government and plans to use up to $5.6 million to retrain mortgage industry workers.
California sacrificed the most mortgage industry jobs last year at a net loss of 15,933 positions, or 18.5 percent of the nationwide total, according to MortgageDaily.com. Lenders eliminated everyone from mortgage bankers and payroll to clerical and administrative staff.
Source: Los Angeles Times (02/21/08)
The state has received a grant from the federal government and plans to use up to $5.6 million to retrain mortgage industry workers.
California sacrificed the most mortgage industry jobs last year at a net loss of 15,933 positions, or 18.5 percent of the nationwide total, according to MortgageDaily.com. Lenders eliminated everyone from mortgage bankers and payroll to clerical and administrative staff.
Source: Los Angeles Times (02/21/08)