255,000 Jobs Added In July … Bad For The Mortgage Order Mills (MOMs)
The Labor Department reported a gain of 255,000 jobs in July. The Mortgage Order Mills (MOMs) hate it when jobs are increasing. It shows the economy is getting better. Mortgage delinquencies and foreclosures are at an 8-year low. The MOMs are paying the overhead on empty office space. The MOMs have a tough time finding $3 mortgage inspections when unemployment is decreasing. They also have to pay higher wages to hire staff and their current underpaid staff is demanding a pay raise.
Some of the MOMs are playing more games to increase profits. The game they play the best is called “chargebacks”. It’s a game where the MOMs always win and the mortgage inspectors always lose.