Los Angeles Times (02/21/08)
Former employees of mortgage lenders in California who lost their jobs following the subprime lending meltdown will have an opportunity to be re-trained for positions in other growth industries, such as healthcare and biotechnology. The state has received a grant from the federal government and plans to use up to $5.6 million to re-train mortgage industry workers. California sacrificed the most mortgage industry jobs last year at a net loss of 15,933 positions, or 18.5 percent of the nationwide total, according to MortgageDaily.com. Lenders eliminated everyone from mortgage bankers and payroll to clerical and administrative staff.
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