I work for Countrywide Home Loans, now. It’s a Forbes and S&P 500 company. When interest rates approached 18% in the early ’80s, many mortgage companies were devastated. However, Countrywide survived by diversifying its business: it offered their own mortgage-backed securities. In 1984, Countrywide started its Correspondent Lending Divsion (CLD), which buys the mortgages from other lenders. Today, this company is the nation’s largest correspondent lender and has over 500 branches and 13,000 employees… I’m one of them.
I’m currently in training for “loan purchaser” in CLD. Yesterday, my partner and I worked all day on just one live file. Today was our chance to go at the live files alone. The record for a 1st solo day is three files and beginning a fourth. Some guy named Rich got that record. I broke it. Four files completed and I started my fifth. I think I may be impressing my trainers. I hope so. There might be a raise once I make “suspense coordinator.” What a weird title? It is as if one would be responsible for making a murder mystery or something.