Got out of the Mortgage area ...Countrywide culture is coming back. So many people working at doing nothing. Don't think it's whistle blower level, but any big issues that would take a lot of work...told not to put in writing or talk about....and nothing is done years later. They have to eventually realize the mess and clean it up soon? They brag how they don't do anything.....
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Countrywide had auch laughable underwriting they were one of the first to go under. I am no B of A fan but if donuts are what you remember most then it is no wonder Countrywide is gone. We have a few CHL people left and they are laughably bad at their jobs.
An 6 month new to bank point of view.....the stink is the whole company!
ive worked in many different corporations and boa is by far THE most toxic, disguisting, dysfuntional one yet.
life outside this culture isnt like this.
CHL was great and when people actually worked and were trained! BOA just trains for the steps and then you have all these employees that have no idea why they do the things they do! There were no layoffs every month and you felt secure in your job! CHL treated you like actual family.. BOA IS Sh-- NOW
So doughnuts make the CHL people go away. Here I threw a doughnut out the door. What entitlement and small-mindedness.
I sure miss those donuts. The Tan Man visited us and walked around like the pope. He was a true businessman.
I worked ar CHL pre-merger for several years. Later, pre-merger went to BAC. CHL a total sweat-shop but paid great with bonuses, as was its reputation. Politics super heavy at CHL as was willingness to approve crazy loans, far less so at BAC. Merger definitely skewed everything toward CHL cut-throat mentality., though many lazy folks still employed as they are good BSers.
@OWCGKPp-uir Would have to agree somewhat, with one caveat, CHL loan quality nearly brought BAC down. So many errors in underwriting!! It caused millions if not billions in buy backs. However, would have to agree with you regarding the length of time to get work through or completed on the mortgage side. For some ill-explained reason, BAC continued to use CHL's computer aided underwriting system. What a disaster of mega proportions!! When compared to Wells Fargo, WF used their original dos system and it continued to operate more than efficiently. Loans were moved faster and more accurately than the processes at BAC. What a shame! BAC could have excelled, perhaps the real answer lies in the fact that BAC did NOT want to be the largest lender out there as it made them the biggest target, hence, antiquated underwriting system with longer wait times. One final note, CHL underwriting system is report driven, meaning, it's designed to measure output into reports. How nice, while everyone wastes time with this stupid system some manager has justified their job by sitting in their office reading these reports.
"Donut Fridays" are a great memory and still talked about to this day. In regards to backstabbing and a---kissing, though, both traits were just a prevalent in the CHL days as they are in BAC today.
@uir Right on partner. So much incompetence it's pathetic.
CHL era: No BS, No red tape... Happy employees ( whom felt very much valued) working hard - but with a smile... people walked over to each others cubes, interacted, again with a smile... Productivity? 120 PCRs ( change requests) per month average in one group.... Oh, and we had "donut Fridays" - not a huge investment for the company to buy donuts... but somehow it did wonders for the employees... Overall, you felt valued, respected, and taken care of - as well as rewarded....
Fast forward to BAC era... Lots of red tape - LUCKY if you got 4 or 5 "change requests" in per month... countless meaningless meetings - more managers, SDM TPSM TDM S&M and B&D than actual people working... Oh, donuts are NOT healthy!!! - so that was discontinued ( oranges? could have brought oranges instead? orange you glad it's Friday - Fridays?) ... culture of back-stabbing, "you should be lucky you have a job", axe-kissing for job security was born.... Many are overworked - yet unproductive... and the smiles and "sense of family" are long looong gone.
Let the mortgage frauds continue! Make America Great Again!
Another holier than thou BAC schmuck, look around most CHL people are gone mediocre BAC schmucks that stayed