Wednesday, September 19, 2007

It's Not Over

Jeff Ostrowski of the Palm Beach Post notes that the "bloodletting" isn't over yet in the mortgage industry - something that shouldn't come as a surprise to any of us. What's most remarkable is that Sun has allowed FNLC to continue operating, albeit as a much smaller and limited organization. The only reason I can think is that Sun recognizes some type of value in the FNLC brand and they are just holding onto it until the industry turns itself around.

A commenter in an earlier post estimated that 95% of the folks let go by FNLC are still out of work - I thought that seemed a bit high, but after speaking with several former co-workers, I'm beginning to think that might be accurate. Anybody care to elaborate or share their stories?