SunTrust Mortgage has signed immediate contracts with Infosys to offshore the loss mitigation process. All documents sent for review for short sale, deed in lieu, and modification requests will now be reviewed by folks in India. All letters (approval and denial) letters will also be handled in India. All fulfillment processes (account changes, term updates, payment updates) will also go to india by March 15th. Approximately 50 jobs will then be eliminated. SunTrust had to wait to get out from under the consent order to move jobs. This after getting a big tax cut from the government..
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I've been a banker for 24 years and was just laid off. After never falling short of reaching my production goals. it doesn't matter any longer and I wish everyone knew how ruthless and dirty the banking industry has become in the Atlanta market. Im sure most markets are the same but Atlanta is where I've spent my career. I'm not sure the number of layoffs that are coming but I understand that the goal is 10,000 us jobs. Its low salaried producers in the US and operations oversees to take advantage of much lower wages and exchange rates. Its large corporations like this that we all should stop doing business with.
@cebxx+ROnkXM9: Dude....it's over. Stop wasting your time reading tea leaves and use that energy to find another job outside.
Will this also affect loan underwriters with this move?
It's ongoing here at SunTrust. Private Wealth is being sent to India also. Anything Operations. It's all about the $
This is horrible.
Not sure what to do, but at least you can make sure the public knows.
I'd strongly suggest you tweet or email Sara Blackwell who's running a big campaign against outsourcing US jobs...
Her contact info is below...