Thread regarding Wells Fargo & Co. layoffs

I'm an underwriter. As you can see, they're slowly adding automation for all of our job functions. They now have systemically calculated income and assets, automatic appraisal orders and doing desktop/drivebys vs full interior on some products. They are currently rolling out the CIP vendor to clear CIP. Their goal is to automate/outsource all aspects of fulfillment and cut costs so long term job security for processing/underwriting is zero. I'm just trying to save as much as I can now to retire early from the eventual layoff. If you want job security in lending operations find a local bank/credit union that can't afford big tech when they still need to rely on humans to complete certain steps.

Job security lol

Me thinks you had better start focusing on sharpening your skills rather than relying on a myth

New construction is a pretty stable business, so great for job security. Those teams will often be with consistent production. But the loans can take months/year+ to close. So you will likely have to do, over the course of the loans, 2+ more work than a regular purchase or refinance, so there is that to consider. But less impacted by layoffs since it's not a bo-m/bust type of business line. You will be slower in the busy times for all mortgage but busier when overall market is slower.

If you have a low pipeline and are worried , then I would. Depends on your situation but more loans means more money so why not.

No. Don’t go there now. The lower end of the wage spectrum can’t go much lower but mid and high income wage folks can be cut and replaced with similarly effective staff. New homes are for the upper middle and upper incomes. America is about to shuffle and reorder them to save the businesses. After 13 years of growth corporate America isn’t going to settle for a downward revenue trend without cutting costs.