Mortgage Order Mills May Soon Be Hiring Felons And Drug Addicts: Beige Book

The average mortgage inspection pays $3 with a profit of “maybe” $1.50. Higher gasoline prices are driving more mortgage inspectors out of the mortgage segment. So who will fill their shoes? Will the mortgage segment eliminate the requirement for background checks? I expect that could happen as the economy continues to grow.

Incidentally, this reminds us of what a Beige Book last April found:

One respondent said that during a recent six-month attempt to add to staff for a new product, two-thirds of applicants for assembly line jobs were screened out before hiring via math tests and drug tests; of 400 workers hired, only 180 worked out.

One year later, with nothing changing, and nobody willing to pay more for labor, resourceful employers found a way to bypass the negative effect of labor shortages: avoid the drug tests and background checks altogether, and just hire criminals and drug dealers.

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