Thread regarding Wells Fargo & Co. layoffs

Speaking of Offshoring: Anyone hear about the Mr. Cooper’s Mortgage “payment vendor” fiasco this week?

I need to read more about it, but from what I see at this point: Mr Cooper is a mortgage company who’s “third party vendor” withdrew large sums of money, cleaning out the accounts of over 480,000 homeowners overnight through repeated unauthorized withdrawals. Mr Cooper says “it’s third party vendor inadvertently issued multiple incorrect mortgage drafts while testing it’s system”.

Customers are outraged. Banks are struggling to make investors whole. Mr. Cooper not answering their phones, The CFPB is investigating.

Who is Mr. Cooper’s third party vendor? ACI Worldwide, who entered into a strategic partnership with Mindgate Solutions approx 2 years ago. Guess where Mindgate Solutions is headquartered? Mumbai.

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| 4591 views | | 16 replies (last May 5, 2021) | Reply
Post ID: @OP+1aDambXh

16 replies (most recent on top)

@4ojr+1aDambXh try again. You have one note you pound on over and over again. I'm not in CA, but anyone with two eyes and a functioning cerebral cortex can see what's going on. There are real concerns raised, and you act like a child, sticking your fingers in your ears and yelling the same thing over and over.

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Post ID: @4pgv+1aDambXh

@2rcv+1aDambXh

The anti-India posts are largely made by the graduates of the failed San Fran Sicko public and some from the “free” CA schools which have steadily disintegrated for 40 years now. With no education or training in any rigorous curriculum, or even a lighter focus on finance, business and economics, they have no clue whatsoever that the value of a job must be greater than the cost. They become racist and blame their replacements for their lack of effort in their education and subsequent career. In San Fran Sicko burger flippers make 100 fold he wages of technical workers in India.

Nobody ever said that the SF folks had to understand reality. Here’s hoping that they skill up with some real coursework.

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Post ID: @4ojr+1aDambXh

Happened to me! Three mortgage payments withdrawn! Luckily three reversals followed, on the same night’s processing.

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Post ID: @3bba+1aDambXh

What is up with all these anti-India posts? We have an unhappy troll at hand?

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Post ID: @2rcv+1aDambXh

@1jmm. So you are no longer Hangin with Mr. Cooper?

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Post ID: @2pqg+1aDambXh

Well done , OP.

You are the same person behind all of these updates ! Pretending to rebut and write in “Indian English”.

We are not fooled that you are one the reasons why Wells is in trouble .

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Post ID: @2spu+1aDambXh

Post ID: @1oet+1aDambXh

If you are, in reality, trying to plead the case for work in India: you have to be accurate with your facts and show a bit of maturity and class.

In one post, which is wrong PLUS insulting - you did more harm than good.

Posts like yours which are incorrect PLUS insulting someone

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Post ID: @1epo+1aDambXh

thank goodness I paid off my mortgage and closed my Mr. Cooper account back in December.
😁😁

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Post ID: @1jmm+1aDambXh

I believe ACI is also one of Wells Fargo’s vendors. Nice.

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Post ID: @1rpt+1aDambXh

Don't forget Citibank's wire transfer snafu for Revlon creditors started in India. Two people in India (data entry person and their supervisor) signed off on releasing $900 m to creditors. A senior Citibank executive clicked "approve" and Citibank paid people they were not supposed to. $500 million is frozen until a judge decides if the creditors have to send it back.

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Post ID: @1ieg+1aDambXh

Post ID: @zck+1aDambXh

What does Coronavirus in India have to do with Coronavirus in the US?
What do school shootings in other schools have to do with my school?
What does global warming have to do with me? It’s cool outside, today, where I live.
Why should I care about starving children? I have plenty of food.

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Post ID: @bbo+1aDambXh

What has this got to do with Wells Fargo? Wells is one of the largest mortgage servicing firms in the US (possibly number 1).

Glad a competitor is in trouble.. it means more business for us !!

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Post ID: @zck+1aDambXh

I love all these stories of outsourced disaster. It's the only thing that will eventually put the shameful companies out of business for good. Diversity my eye. Companies being cheap is more like it.

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Post ID: @dki+1aDambXh

Forgot to mention, ACI is based out of Naples , Florida . These guys are not returning any money. Unfortunately.

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Post ID: @aoi+1aDambXh

Thank you OP! I knew there is a Texas connection. Mr.Cooper is headquartered in Dallas.

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Post ID: @dgz+1aDambXh

This is really terrible.

Just read about it. Customers will re reimbursed. But as usual, these things take days or weeks to resolve. Meantime, customers are dealing with overdrawn accounts, overdraft fees, PR canned responses from Mr. Cooper on Twitter, payments being reimbursed than taken out again, many affected customers say they were not even signed up for Autopay.

Terrifying that your whole account can be wiped out because a company you are doing business with has revealed all your banking information to some unknown vendor in an unknown country.

Thank you for posting.

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Post ID: @mjz+1aDambXh

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