If You Were Laid Off From Employment... (insurance, real estate, financing) - Mortgages -Lenders, loans, financing, rates, foreclosures, short-sales, brokers, credit score, deed, lien, refinancing, borrowers - City-Data Forum

HOWELL_STREET · 12-17-2007, 06:44 AM

... Then what would you choose for a similar / compatible vocation? Since my youngest son is a mortgage processor in the Chicago area, he is still employed by a mortgage company. However, there is little work for him - - and in fact - - he is only doing re-financing for the relatives of his boss. Why there are re-financing at this time, I don't know....

I suppose I could pose this question to my son, but that would only make him feel discouraged since he is about 28 years of age.

Since his college degree is in economics, what type of new vocation should he seek? Perhaps a position in a bank? That is the immediate / perhaps obvious one. But, do you have any other possible suggestions?

I would appreciate your comments.

Best Regards,

Carter Glass

Wheaton, IL

TimNJtoCT · 12-17-2007, 01:03 PM

I'd stick with real estate or mortgages. It's a lucrative industry that is just going through as tough time right now.

Other options include banking and financial services

Dave1215 · 12-18-2007, 08:25 PM

Quote:

Originally Posted by HOWELL_STREET

... Since his college degree is in economics, what type of new vocation should he seek? Perhaps a position in a bank? That is the immediate / perhaps obvious one. But, do you have any other possible suggestions?

Economics degree translates to many many industries, beyond the obvious of banking or insurance.

For a couple of excellent perspectives on how broad an Econ degree is check out these 3 links... lots of choices.
What Can I Do With an Econ Major?
What Can You Do with an Economics Degree
What can I do with an Economics degree?

Dave1215 · 12-18-2007, 08:27 PM

Sorry: the links did not translate in the previous post.

Here is the link to the discussion page where those 3 links do exist:

HOWELL_STREET · 12-19-2007, 06:25 AM

My son is still 'hanging' in there but the mortgage industry news from the Business section of the Chicago Tribune is not encouraging.

Thank you once again for taking the time to answer my questions.

Carter Glass,
Wheaton, IL

ChipL · 12-20-2007, 02:32 PM

If he likes processing, and is good at it, I'd suggest he opens up his own contract processing shop and sells himself to area brokers.
Then he can not have to rely on the deals coming in from one office and his income would only be reliant on how good he is, and how many brokers continue to use him.