I know a lot of people from Wachovia that are great people. The bottom line is Norwest was a regional bank who acquired Wells Fargo, kept that name and then grew too big too fast. The acquisition of Wachovia made it burst at the seams. World Savings as well as First Union who were acquired by Wachovia previously were the toxic mortgages that were part of the deal. I think all mortgages that were made when mortgage business was booming is a lot of the problems. Originations were too lax and mortgage companies were more about volume and not quality. The things I have seen working on the REO side, working to clean up vestings and title issues and more showed me that. My hope is that while WF is currently reorganizing and fixing issues, those things will get resolved and then WF can emerge a better place. However, much emphasis has to be done about employees. Show employees that they matter and stop making the majority of people pay for others wrong doings. Benefits s--- now. I have almost 15 years there and have seen it go from happy employees to employees that don’t care and just does what is needed and not anything more because employees no longer feel their efforts are appreciated. The changes going on now is transferring all the work to venders in lieu of working together with vendors for a resolution and vendors time frames are ridiculous. Accountability of the vendors needs to be more worked on. Still a long road ahead of them.
Well said @YCe4kms-5tjf