Does anyone know, if a mortgage HUB is being closed. Will the HMC'S in that HUB get laid off if not close to another? Retail HMC'S are basically fully remote already, and most very rarely go to the office.
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Pretty soon all HMC’s will be either moved into MBSC’s or cut. They are cleaning house. Glad I got out when I did.
Mortgage is dead
Charlie will finish axing mortgage.
Hello!! Frederick was shut down. The reason WFC even had a mortgage business.
TL DR: you’re probably safe for now but don’t expect any upward movement unless you relocate to a hub.
Despite being near a former large office, I’ve had the pleasure of being 100% remote since COVID. However, earlier this summer, I was close to RTO, but then they closed the site in my city. I’m still an employee for now, but feel I’m probably next on the chopping block should there be another round of layoffs, due to my location. I’m also unlikely to receive any promotions, and maybe not even lateral moves.
Mortgage employees have been laid off every 30-60 days for the past 18 months in response to market conditions and WF shrinking the business. No one knows what the future holds and, even if they had an educated guess, it will probably change as conditions change.
Wells is absolutely reducing its mortgage business by beginning to focus on existing customers only. With the resulting reduction in originations, mortgage employees will unfortunately be let go. I don't know what that means for mortgage hubs.
all of mortgage is being shut down
No one here has any inside info, it's all made up. But you will soon be inundated with replies telling you that all of mortgage is being shut down. Enjoy.