Has anyone heard anything about layoffs in mortgage?
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Looking at bond yields I don't see how there's any other outcome. I thought after the cuts we made in Tampa and attrition that would be enough but this looks to stay ugly for quite a while. The chatter about the digital transformation hasn't let up, in other words more to Direct.
Wouldn’t be surprised if the whole mortgage business got cut. So much regulatory cost and brokers do it so well. So many of these cuts have been < 100 people and it’s going to take something big to get to the numbers published.
One benefit of the merger covering up sin with sheer bloat and information fatigue. No one knows about Grandbridge despite the massive destruction of shareholder value. Who cares about a broken arm when you have cancer. My apologies to cancer and broken arms for the analogy. The equity analyst should be all over this one. It demonstates perfectly what type of petty and ill-informed leadership you're investing in.
Grandbridge is a smoldering husk. Try to find someone over there to talk to. Has there been any accountability?
Crickets so far in my LOB - moral is dismal because everyone is feeling the anxiety - once they finally get to it the ones who still have positions will take a sigh of relief and morale should hopefully improve!
What about Grandbridge? What happened there?
It’s a crying shame how they destroyed Grandbridge.
Grandbridge