Typically that’s rolled out in Q1 but I guess it’s delayed to Q3?
Any insight?
I’m actually thinking we may get a nice bump to comp. I know this board is all doom and gloom on mortgage but I think WF really does want to keep all the top folks in the key markets it has:
Mortgage is dying and will be gone
“Where have you been??? All the top HMCs are gone. No talent left. Charlie will finish axing everyone left. He said at the beginning of the year that wells is pulling out of mortgage. They will only do a few minority loans to make them look good and wealth. The rest of you are toast so get ready for the ax to fall”
This is a flat out lie. If you like at the top 15/20 producers in the company it’s largely been the same group for the past 5+ years. Sure some people have left but the top people are still there and making a lot of money.
Where have you been??? All the top HMCs are gone. No talent left. Charlie will finish axing everyone left. He said at the beginning of the year that wells is pulling out of mortgage. They will only do a few minority loans to make them look good and wealth. The rest of you are toast so get ready for the ax to fall
If you work at WF and don't know what WIM is, you are dead wood.
what is WIM? why is it so precious that charlie wants to keep it?
They'll keep a small group mainly for WIM and other select markets but no longer for the masses.
Top producers and key markets are code for "the last ones out the door". It's all going away folks. Not for any good reason, Charlie just doesn't like that business.
This post and your opinion is wrong in so many ways. "Top folks" in every business have been leaving in droves the past two years. CEO wants to get rid of mortgage and become an investment bank. Try to keep up.
New comp plan was pushed and will now roll out in October. However, a select few in key markets did already get extra comp but that is supposed to be hush-hush.
To be clear I’m talking about the HMC/PMB comp plan
for operations any changes to comp plan are always communicated last week of December like a week before they go into effect
Look under Salary Continuation in the Wells Fargo handbook.