So Sean G. finally addresses those remaining. He seemed rushed and unprepared. No real focus to the call, but it definitely seemed like a warning call that the business this time around is a real problem (it is) and with the competition and state of the market, that we are in for a rough ride. Also mentioned that we are priced so that we don't lose money. Understandable, but our pricing is awful and in a competitive market, we don't stand much of a chance if a customer does any shopping at all, which most people do these days. Its a tough situation for management, but be prepared. Things will get worse before they get better and it's highly likely that they will have to downsize even more. Don't let it be a surprise to you.
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June 19 was a Sunday!! I don't know of any meetings on Sunday, just saying.
Mortgage is a feast and famine business, if you havent been through a economic cycle yet buckle up, you wont find a job anywhere in mortgage or consumer lending for the next couple years. Ive lived through multiple recessions, they arent pretty in consumer lending
Reward you ? Ahahaha. Their so called excellence award for your “above and beyond” performance is just a $10 gift card….. I should have just kept it themselves, they need it more then I do it looks like…
The "advertising" was/is stupid. You want more business? Offer a better price to your existing Chase customers. Don't make them jump through hoops and bring more money to the bank. Reward them for already BEING YOUR CUSTOMERS. Whenever a customer asks me why should I do my mortgage with Chase? I am already a Chase customer, what does that get me? The answer is NOTHING. Unless you happen to have 1 million in the bank. Then it gets you a LITTLE. They have the biggest customer base in the US and the mortgage penetration is laughable. OK, you don't want to "BUY" marketshare. Then don't. But go after your existing customer base in a MEANINGFUL way. Make it simple. You bank with Chase? You get a better rate, regardless of how much you have here. Figure it out management.
Chase sucks. I left and never looked back. You are just a number to them. I stopped banking with them and I suggest you do the same.
Management said they spent millions on national advertising so they don't need to pay us bonus. Chase has a record $$ year in mortgage last year but did not reward us workers
Fed stated they will rate hike until 2023. Mortgage is approaching the slow down season . Mortgage last stated they spent 100 million on national advertising. Not sure how they didn’t see this coming , too much wishful hoping. I thought he would be let go …. Someone high up needs to be made an example of .