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Layoffs Rampant in the Mortgage Industry

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Layoffs Rampant in the Mortgage Industry

Economy

Layoffs Rampant in the Mortgage Industry

Layoffs Rampant in the Mortgage Industry

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  • <iframe src="https://www.npr.org/player/embed/14556352/14556288" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
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American Home Mortage filed for bankruptcy last month after falling victim to the weak housing market. Aimee Waltz, a loan officer who recently lost her job with American Home Mortgage, says it's not just irresponsible lenders who've brought on the subprime mortgage crisis. "A lot of the blame falls on the people themselves," she says. "I mean, you're making $5,000 or $6,000 a month and you're looking at a house payment of $4,000 a month, you can't carry that." Waltz speaks with Renee Montagne.