Announcements of mortgage layoffs nearing 70,000 

Mortgage and subprime lenders have announced nearly 70,000 layoffs in the first three quarters of 2007, according to outplacement consulting firm Challenger, Gray & Christmas Inc., which tracks company announcements of job cuts.

That's a more than five-fold increase from the 12,874 announced job losses in mortgage lending tallied by Challenger in all of 2006.

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