Thread regarding SunTrust Banks Inc. layoffs

Switching branch originated mortgage loans to phones is a huge mistake

Retail Branch Loan Officers also received a huge surprise yesterday: All Branch Originated Mortgage loans will now go through the Phone (Consumer Direct Channel) and not with personal Loan Officers. This will dramatically hurt Retail Loan Officers and will likely disturb many Retail Banking customers whom would like to deal face to face with their loan officer. Another cost cutting measure being implemented to ensure year end numbers are met for shareholders. Hopefully for SunTrust they already have an experienced Consumer Phone Call Center staffed with Loan Officers. However the blow back may be that some deposit customers will take their deposits and walk to an institution where they can still receive personal service with a face to face experienced Loan Officer.

Posted by @QeKSz3K-3fka. This move is a huge mistake for SunTrust. Putting profit above customer satisfaction is a disaster waiting to happen. Profit comes from customers. If they walk away because they prefer handling something face to face and can't do it anymore, profits will go down. Big mistake on SunTrust's part.

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