Low mortgage rates: Good for people who want to refinance, even better for jobseekers who want to handle the transactions.
As a result of increased client demand, companies are expanding their mortgage banking, operations and underwriting departments. Detroit-based Quicken Loans Inc., the country's largest online home lender and fourth largest retail mortgage lender, will hire 200 people for its Scottsdale, Ariz. center. The center currently has 400 employees.
Quicken wants to hire mortgage bankers, loan processors, closers and underwriters. The Scottsdale center's loan volume has more than doubled in 2012 from the same period last year.
Arizona isn't the only state to benefit. The Federal Savings Bank, a Kansas-based home lender, is opening an office in Chicago that will create 400 jobs over the next three years. The company will hire lenders, underwriters, loan processors, accountants and loan closers, and wants to bring on veterans especially.
Adding Layers (FINS)
As a way to address the fallout from April's trading losses, J.P. Morgan has expanded its risk management unit in the group responsible for all the fracas.
Under Pressure (WSJ)
It's not a good week for Bob Diamond. The Barclays chief executive is coming under heavy fire for this week's admissions of fixing LIBOR rates. Some expect him to step down.
Pay Recommendations (eFinancialCareers)
The European Securities and Markets Authority recommends that hedge fund and private equity employees should only get bonuses in "exceptional circumstances." Emerging markets increasingly seem to be the only countries without rigid pay rules.
New Roles (Financial News)
Andrea Sambo, UBS' global head of fixed income, currencies and commodities, has wasted no time assembling a new team.
Don't Fool the Dealer (Mergers & Inquisitions)
If you want to break into institutional dealing, you'll need to hone your precision skills. You'll be handling big blocks of trades for clients.
Big Spender (Bloomberg)
If you are $113 million behind in personal taxes, the only natural thing to do is start renovations on a mansion and fly everywhere on a personal jet. Just ask Phil Falcone.
Death at a Funeral (Bloomberg)
The world's oldest billionaire has died at 101. Walter Haefner made his money importing cars to Switzerland.
Buzz Around the Office
Secretary of Out-of-State (Associated Press)
No one can ever call Hillary Clinton a homebody. The former first lady recently broke the all-time record for countries visited by a secretary of state, surpassing previous record-holder Madeleine Albright. Clinton has now touched down in 100 different countries.
List of the Day: Be Assertive
You'll only get ahead in your career if you ask for what you want.
1. Make it a goal to speak in every meeting.
2. Practice saying no.
3. Balance your aggressive and passive-aggressive statements.