What dates, positions, and numbers are we looking to see with upcoming mortgage layoffs?
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We laid of the most talented processor and keep the bottom of the barrel inept processors just because of where they live. So we in sales can not get our loans done right. Our customer service scores are at an all time low and realtors and builders want nothing to do with us. The media is right. Wells Fargo is on their way to getting out of the mortgage business. We used to be able to brag we were the nations number one lender in the good old days until we got this senior management team. Might as well get rid of the remaining bottom feeders and move what little is left to India.
Heard all full time remote mortgage employees not located near a HUB, are others hearing the same?
april 18 confirmed. will be substantial
The bank hasn’t really transferred any of the portfolio yet. In servicing it will be a very slow burn over the next couple of years with every transfer and as the portfolio diminishes.
Layoffs will not be done by summer....possibly, only the first round. Then comes "consolidation" and "flattening" of org charts that will focus on managers, full-time Remotes, and low-performers.
After that, every survivor's workload will be increased and they'll be told to be grateful they still have a job.
For the first time in 2 years, I feel as though we've seen the light at end of tunnel and I'm starting to see attrition. I am no longer waiting for that confidential meeting invite. I could be wrong, of course, but I'm in mortgage and we are now helping out other teams as I believe they cut too much in some areas. Our leader stated he felt layoffs would be done before summer.
Who said there were upcoming mortgage layoffs?
yuge.... Wells will not be the only bank.
April 18th. I don’t know numbers or how deep.
I heard tech is affected.
Hopefully all of them