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Major lender axes mortgage jobs

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Mortgage Professional America | 14 Feb 2014, 06:35 AM Agree 0
A major lender is once again putting mortgage jobs on the chopping block
  • Bob | | 14 Feb 2014, 11:49 AM Agree 0
    Washington's new policies and the now 'old' Dodd-Frank act are killing the work force in almost every sector, but, mortgage originators are still a big target!
  • Bk | | 14 Feb 2014, 12:00 PM Agree 0
    Bank of America was horrible to work for.. The processing centers could care less about files closing and working with the mortgage officers. Majority of them had a superiority complex and we're free to ignore mortgage officer emails and phone calls In regards to file status and meeting closing dates. That place lost me so many clients
  • OMG | | 14 Feb 2014, 12:32 PM Agree 0
    they just closed a large operations center in St Louis/St Charles MO as well. Just announced...
  • Tobby | | 14 Feb 2014, 01:02 PM Agree 0
    It's not like we didn't know this was coming. The slowdown in refinances was predicted 18 months ago! Purchases are doing fine, but there is just too much originator capacity to support the volume. Mortgages are no harder to get than they were in the 80's and 90's. There's just (much) more paperwork to do.
  • Andrea | | 14 Feb 2014, 01:17 PM Agree 0
    Just lost a Buyer to BofA and their great Rates, I did hear their service sucks though, unlike a Mortgage Broker, they don't really have to worry about giving good service and closing in a timely manner, oh well, good luck to all you Borrowers thinking Banks are better.
  • Gary J. Heinecke | | 14 Feb 2014, 01:57 PM Agree 0
    Client went to sUNTRUST (note what is in the name should be referred to as UNTRUST!)and was told by the branch mortgage officer that because the price was so low they needed to raise price by 10k. Bank fraud at it's finest and no regulator and compliance required because they are federally insured. I simply put them in a 100% USDA mortgage that she deserved. A whopping 60k but who else would help this young lady!!
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