More Mortgage Industry Layoff in the Charlotte Area (Raleigh, Salem: move, association)
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You are talking about “Wachovia Mortgage Corporation” which is only one division of the larger company. Again, the whole point that I’ve been making is that Brian1970 was attempting to paint a broad brush here when simply saying that “Wachovia is outsourcing its Loan Review jobs”. They are outsourcing “back office functions” in their Mortgage unit. What was originally said was misleading.
I don't work for Wachovia Mortgage Corporation. Their office is in Raleigh, NC. I'm located in Charlotte. We agree that they are outsourcing their back office functions. One of those functions in Charlotte is called "Loan Review" (agree or disagree that's what its called) and in that respect, BrianH1970 is correct. That particular function under that name is being outsourced.
Let’s have a little banking lesson people. “Loan Review” is the group that reviews loans for compliance to credit policy “after they have been made”. They review specific portfolios of loans within a bank. They are like an auditing group. That group, in its entirety, will “never’ be outsourced. Again, I believe you guys are talking about the initial credit analysis teams. You may call them “Loan Review” but in the banking world, that’s not what they are (just ask around in your building). If you “are” talking about a group of credit analysis teams, rather they are in Loan Review or wherever, then what you are saying is exactly what I’ve said all along, and what Wachovia has said officially regarding the matter; that they are sending “back-office and processing work to an India”.
Carolina Blue do you work at Wachovia? If not do you work for another bank/ mortgage lender? If not what industry do you work in?
I don't work for Wachovia Mortgage Corporation. Their office is in Raleigh, NC. I'm located in Charlotte. We agree that they are outsourcing their back office functions. One of those functions in Charlotte is called "Loan Review" (agree or disagree that's what its called) and in that respect, BrianH1970 is correct. That particular function under that name is being outsourced.
Location: Some got six month some got one solid. But me and my buddies all got lifetime here
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I'm astonished that someone can work inside the same building where a portion of LOAN REVIEW in CHARLOTTE was outsourced yet you keep insisting otherwise. Loan Review is ONE FLOOR BELOW ME!!!!!!!!!!!!!!!!!!!! Do you need pictures? Written testimony? What sort of proof would you require to make you believe that a portion of loan review has been outsourced with more cuts on the way?
I was one of those 400 people who were laid off from Wells Fargo's Ft Mill site in March. We were repeatedly told that our jobs were secure. Funny the heads of B of A and Wachovia, CNN & and the local newspaper's informed us we were being laid off months ahead of time and guess what? It happened!!! It doesn't matter if it is 5 people or 4000 people a job loss hurts!!!
Both BofA & Wachovia seem to be hiring contract positions with no benefits. What does one do with no health insurance?
You can find an address for Wachovia Mortgage Corp in several cities. It doesn't mean they're headquarted there. I believe what you are referring to was when Wachovia closed some Servicing Centers and consoldated some of that work at the Raleigh center. But they didn't move the "headquarters" of that unit there. Again, I refer you back to this...
And Brian1970, let me get this right. So "now" its a "portion" of Loan Review that was outsourced? Umm? Interesting. If you'd said that from the beginning I suspect we wouldn't be having this exchange now.
Last edited by Carolina Blue; 04-12-2007 at 06:15 PM..
And Brian1970, let me get this right. So "now" its a "portion" of Loan Review that was outsourced? Umm? Interesting. If you'd said that from the beginning I suspect we wouldn't be having this exchange now.
Did I not say that we were talking about two different groups? Whether it's a portion or the whole, you kept insisting "no" "no" "no". Loan review is being outsourced. Part of it went and more of it's going. What part of this don't you understand?
I work in the building. It's painfully clear you don't.
You can find an address for Wachovia Mortgage Corp in several cities. It doesn't mean they're headquarted there. I believe what you are referring to was when Wachovia closed some Servicing Centers and consoldated some of that work at the Raleigh center. But they didn't move the "headquarters" of that unit there. Again, I refer you back to this...
And Brian1970, let me get this right. So "now" its a "portion" of Loan Review that was outsourced? Umm? Interesting. If you'd said that from the beginning I suspect we wouldn't be having this exchange now.
The word "headquarters" was never mentioned in any of my previous posts.
I don't work for Wachovia Mortgage Corporation. Their office is in Raleigh, NC.
This is what you said, "their office is in Raleigh". Fact is, that unit has several offices in several cities and the headquarters is in Charlotte. What I'm trying to figure out is, if you work for Wachovia in the Retail Mortgage group, how is it that you don't work for Wachovia Mortgage? Oh well.
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