There’s a definite shift going on in banks as continued layoff rumors in jumbo and portfolio divisions are rampant. At the other end of the job chain, people’s circumstances about how they entered our business are often fortuitous, or interesting. A good conversation topic at mortgage gatherings is how someone got into the business. Santa Rosa’s Brian Goulding, for example, has a solid accounting background which morphed into being a loan officer. I was a food science major. Another good conversation topic is how LOs use rent, and rent increases, to prompt buyers. Since 2009 rent prices have grown by 60 percent or more in seven U.S. cities: San Jose (85 percent), Denver, Seattle, Portland, San Francisco, Nashville, and Austin (60 percent). Rent prices are also rising faster than incomes, which forces tenants to shell out a greater share of their wages on rent. At 28.5 percent, Miami has the highest rent-to-income ratio of the 50 largest U.S. cities, while Cincinnati has the lowest at 15.5 percent. The rent-to-income ratio declined in only four cities: Cleveland, Pittsburgh, Buffalo, and Providence. (Today’s podcast can be found here and this week’s is sponsored by Richey May, a recognized leader in providing specialized advisory, audit, tax, technology and other services to the mortgage industry for almost four decades. To experience how Richey May can help you transform your mortgage business, visit richeymay.com. Hear an interview with MBA’s Justin Wiseman on recent issues MBA has commented on and top regulatory/enforcement items that the industry should be aware of.)