Like the ones that had proven, consistent production? Now that the business is mostly remote, what does it matter if a banker in Pittsburgh whose office was closed reports to a BM in Philly?
Maybe get rid of all the non-producing HMCs, consolidate management, figure out what you have……then selectively rehire some of the old veteran PMBs?
Thoughts?
NOPE! They are dinosaurs. Now we don’t need them with AI you can talk to a computer and push buttons and GET MORTGAGE. These guys that thought they were some kind of “walk on water” miracle worker…are obsolete.
Since most high producers are straight commission…why would they want to wait a few months for mortgage to hire them back? When laid off, they don’t get severance that would really cover what they lost…
WF make an effort to retain talent? Not a great track record. If I was in their shoes I sure as heck wouldn't hold my breath.
It’s already in the works OP. Talked to three laid off PMBs in Utah and Kansas City who are already in conversations. May not happen for a few months but I think it’s imminent.
I think yes. Especially once they clear out the dead weight non-producers/ Proven producers only add to the bottom line.
Maybe, but likely not.