Thread regarding Wells Fargo & Co. layoffs

“If everything is so great where you are, why'd they fire the 2 mortgage people you inherited your deals from? And who's to say there won't be some other person gloating on this site about the deals the inherited from you after you get fired?”

Simple. Because the individuals that I inherited a couple deals from were in loser, sh---y markets that Wells wants so part of for good reason. You think Charlie wants to do business in shitholes like St Louis, Cleveland, Shreveport, etc? Lmao.

Mortgage is retrenching to the “elite” big markets on the coasts and hip metros like Denver, Phoenix etc.

Mortgage is getting stronger. Thankfully I’m in an elite market.

If everything is so great where you are, why'd they fire the 2 mortgage people you inherited your deals from? And who's to say there won't be some other person gloating on this site about the deals the inherited from you after you get fired?

“Your "focus market" means diddly squat with where the economy is headed.”

Mortgage is counter cyclical. If/when the economy hits the skids, I’ll be refinancing like crazy. Will be fantastic.

And wealthy folks will still be buying, especially at much lower rates.

@fdh+1lCUxRKb

Your "focus market" means diddly squat with where the economy is headed.

I doubt OP could lock a car door much less a loan.

“OP, you remind me of the two mortgage broker d-bags in The Big Short.

You don't understand where this is heading. You'll be applying for a job at IKEA before the end of summer.”

Not if you’re in a “focus market” for WF.

We are set up here at Wells to make gigantic incomes with the new strategy and pricing.

OP, you remind me of the two mortgage broker d-bags in The Big Short.

You don't understand where this is heading. You'll be applying for a job at IKEA before the end of summer.

Having recently retired (2022), I was either Presidents Club or Leaders Club for 17 consecutive years. If you are not a troll posting and your comments are true then I’m questioning how effective you have ever been self sourcing business in 20, 21 and 22 when refinance and purchase markets set all time records. That amount of monthly income was the norm. Including the first half of 2022. ”

Sir, congrats on a tremendous career.

I’m only 7 years in the business and while I had some phenomenal months during the 2019-2021 period, I never made $80k in a month.

The main point is that despite the haters, Wells Fargo mortgage is BETTER THAN EVER, if you’re in a focus market. Charlie was brilliant to ditch the sh-t markets in the Midwest. Our pricing is leading the industry too, conforming and jumbo.

Billy you assumed the incorrect pronoun. Be careful with HR if you assume or disrespect all aspects of diversity and inclusion. Your production won’t mean anything if you don’t respect the culture change that has occurred within WF.

“You do realize that any HMC/ PMB that was laid off in February receives the commissions for the loans they started and you inherited for 90 days and you get nothing on those deals. Congrats on the 3 new deals as long as they close you should get paid.. Don't count your chickens before they hatch...”

Thank you and yes I’m well aware of our comp plan LOL.

Regardless of when they fund I get 25bps. And if they fund outside the 90 day window, I get it all.

You do realize that any HMC/ PMB that was laid off in February receives the commissions for the loans they started and you inherited for 90 days and you get nothing on those deals. Congrats on the 3 new deals as long as they close you should get paid.. Don't count your chickens before they hatch...

“Having recently retired (2022), I was either Presidents Club or Leaders Club for 17 consecutive years. If you are not a troll posting and your comments are true then I’m questioning how effective you have ever been self sourcing business in 20, 21 and 22 when refinance and purchase markets set all time records. That amount of monthly income was the norm. Including the first half of 2022. ”

Sir, congrats on a tremendous career.

I’m only 7 years in the business and while I had some phenomenal months during the 2019-2021 period, I never made $80k in a month.

The main point is that despite the haters, Wells Fargo mortgage is BETTER THAN EVER, if you’re in a focus market. Charlie was brilliant to ditch the sh-t markets in the Midwest. Our pricing is leading the industry too, conforming and jumbo.

Tell me you don't understand how comp works without actually telling me you don't understand how comp works lol

Nice job Mate!

Don't spend all your money in one place. Don't blow 80k on a Tesla.

Ignore the haters (the ones that are trolling you about 3 loans)

Having recently retired (2022), I was either Presidents Club or Leaders Club for 17 consecutive years. If you are not a troll posting and your comments are true then I’m questioning how effective you have ever been self sourcing business in 20, 21 and 22 when refinance and purchase markets set all time records. That amount of monthly income was the norm. Including the first half of 2022. Why are you bragging about your income on one time inherited deals? Good for you that you got 3 nice loans over the weekend. Got enough closing to get you out of draw deficits? PS if your pseudonym is the lead guitarist from Smashing Pumpkins not exactly the best role model. Of course that is my opinion only.

“You have no idea what you are talking about. You can’t make 80k off three loans. This is a troll post. Move on to another site where you look like you have a brain”

Where is the reading comprehension??!?!?!?

IM NOT MAKING $80K OFF 3 LOANS

You have no idea what you are talking about. You can’t make 80k off three loans. This is a troll post. Move on to another site where you look like you have a brain

“Doesn't the LO comp plan cap commission at $12,500 per loan? 3 loans for 80K??”

Bud re-read my post below. 3 locked loans this weekend. I’m gonna close probably 13-14 loans this month. I ain’t making $80k from 3 loans (and yea that is the max payout per loan).

Doesn't the LO comp plan cap commission at $12,500 per loan? 3 loans for 80K??

“80k from 3 loans?”

No sir. That’s just what I locked in this weekend thanks to Wells aggressive pricing strategy now that we’ve shed the loser markets.

80k from 3 loans?