Mortgage Grapevine

Wells Turnover

Why do you think Wells has such a turnover with underwriters. I know what I think but wanted to hear your opinions.

I underwrote there for a few months about a year ago. It was painful. I only lasted a few months before I couldn't take it any longer. I just got a call today and they want me to come back. I've seen heavy advertising on all of the job boards for Wells all year and was wondering what you guys thought? I know it isn't because they're firing. Think it's more for the reasons I left - good u/w are getting in there and just finding it to painful?
by cm November 4, 2009 3:21 PM

I should mention that I'm actually considering going back simply based on the $$ they are offering and I'm about at the end of trying to do what I love for nothing...better to do what I hate for something?
by cm November 4, 2009 3:23 PM

Most of the turnover is a result of the employees leaving their job for one reason or another. They're simply not staying at the company very long.







by Steven701 November 4, 2009 3:27 PM

Steven701 - clearly you are the most insightful
person I have ever read.

Thank you, Steven, for your contributions
to society and may the sun always shine on
your face.


by Is that a joke? November 4, 2009 3:59 PM

Yeah, Dude- what are the Lotto numbers for tonight?
by Marktinker21 November 4, 2009 4:14 PM

Steven701, do you look like Sheldon from the Big Bank Theory?


by ICD's No. 1 Groupie November 4, 2009 4:39 PM

No one wants to work there because they are like Nazis? Unfortunately $$ forces us all to do something we don't necessarily love. You can probably tell us more of what its like to work there than most. I would say because they are as corporate as it gets....
by LanceB November 4, 2009 4:55 PM

I agree Lance. That's my issue. I'm a great underwriter - tons of COMMON SENSE - which unfortunately makes me loath most of their policies/procedures.

I'm cranky so I'll just say it - most of their guidelines are dumb and let's not even START with how they are set up to actually underwrite and close loans. When I was there before I could not believe! how their flow was. I'm sure I don't need to tell most of you.

18 underwriters touch the file before you can even get the dang thing closed (and from what I saw most of them have no clue as to what they were doing). My desk had many many dents in it - as did my forehead.
by cm November 4, 2009 5:05 PM

Steven701 in 2012.

He makes more sense than Obama.


by Mensa Calling November 4, 2009 7:05 PM

If you have your DE, Bank of America is looking for underwriters nationwide. www.bankofamerica.com/careers
by McC November 4, 2009 9:38 PM

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