On our Home Lending Underwriting town hall as we go over a business update. Pretty clear signs that consumer underwriting is heavily over staffed. Cost per loan is up, utilization is down, fundings per Uw is down, and market forecasts flat to down in the next 3 years.
Tell me layoffs are coming without directly saying it
Well said. A bunch of Arrogant Delusional See Ya Next Tuesdays are steering the ship. It’s mind blowing the su-k up dou--e bags on that call. Could not imagine spending one minute standing next to any of them and not feeling skeeved out. They must grow those F’ers in G D__mn test tubes. In-human, the lot of them!
Well, when you switch LOS to something that was garbage years ago, extremely slow, has the worst doc system in the business, and then put it on a web based system causing it to be even slower/constantly refresh, yeah cost per loan is going to increase. It takes at minimum twice as long to get through a file now.
A bunch of geniuses.