I'm in sales and keep hoping I get laid off. However, I'm located in one of the "core or focus" areas for mortgage going forward. I've been with company over 20 years, but I am done working on the sales side. I've applied for multiple other positions, but don't even make it through first round. At this point, I think "management" is just going through steps so I can be fired or forced to resign, to avoid having to do the severance. It is very sad, for as long as I've been here, you think there would be some appreciation or loyalty. WF does not work that way. It is clear they don't care about my expertise or experience. They prefer to hire HMC's to sit in the bank who have never done mortgage before and have no idea what they are doing. Anyway, I am just trying to hang on long enough so I can retire.
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BHMC's didn't have MPS guidelines the first year, but I heard rumor that they are going to put MPS in place. HMC's that have to source their own business will probably have the same MPS (rolling 6/12 month) this year.
“If you are producing below the MPS you will not receive a severance package. You will just be managed out.”
MPS should have been enforced more tbh. There were a ton of bankers that did only a couple transactions for an entire year.
What are the new standards? I heard they raised them this spring.
If you are producing below the MPS you will not receive a severance package. You will just be managed out.
May the good Lord bless you and get you to retirement. You have been used and abused, I can relate. I wish for you a winning lottery ticket
Appreciation and loyalty are two words that are not in Charlie’s vocabulary!
You’ve been in mortgage banking for 20yrs, located in a core market, and you want to get laid off?
Why?
With that kind of tenure at Wells Fargo in mortgage banking you should be making a nice living. What gives?
I was here 30 plus years and had mapped out my retirement. Then Charlie the chainsaw struck And now I am displaced. There are no jobs to apply for. Disgusting that tenure and long term means nothing. Hope you make it but be prepared and know that this company could care less about you.
I am in the same situation and agree 100%.