Countrywide Hires 1,000 People to Handle Loss Mitigation

[Moe Bedard]

Countrywide is laying off loan officers all over the country and shutting down their subprime unit called "Full Spectrum Lending". However they are vigorously recruiting candidates for their loss mitigation departments. A report from an inside source says that 1,000 jobs are being added locally here in Southern California.

I think this field will see the largest increase over the next year than any other emerging specialty field. However, I believe that they will under pay and over work these people and further complicate the situation.