just got promoted as 4 managers quit today

[dead_reggin_storage_fashi]

......not sure if it is good or bad. I now have a new title and was basically forced in. anyone move up the ranks not really wish it happend?

 

[Mr. dB]

So you're the last man standing? Maybe they were fleeing like rats from a sinking ship?

 

[dead_reggin_storage_fashi]

So you're the last man standing? Maybe they were fleeing like rats from a sinking ship?

id would say we are sinking


countrywide....... our top level director came out to explain how we are still strong.

our division sells basically all non conforming loans which are sold on the secondary market (not subprime etc) our production went from 80-95 units a day to maybe 15-20 in the last month


jnev used to be on this battleship ..dude you are right this place is a fucking zoo

 

[Sanel27]

dude, happened once to me

i was told that im getting promoted, and i refused. then i was told that i had no choice but to accept. did it but wasnt happy and i was right, i almost got set-up as the fall guy in our dept. bullshit, be wary of the upper echelon fuckers

 

[calveless wonder]

fuck countrywide

bastards used to snake deals from me that i submitted to their wholesale side as a broker.

their retail division would try to undercut me on rate/fees with MY client

not to mention the minute you order a payoff from a countrywide customer their phone is ringing off the hook

 

[jnevin]

id would say we are sinking


countrywide....... our top level director came out to explain how we are still strong.

our division sells basically all non conforming loans which are sold on the secondary market (not subprime etc) our production went from 80-95 units a day to maybe 15-20 in the last month


jnev used to be on this battleship ..dude you are right this place is a fucking zoo

I was pretty much told I became a manager whether I wanted to be one or not. Eh, it's decent on the resume.

 

[Mavafanculo]

whats the scoop from inside Countrywide? is there another shoe to drop in the subprime mess ?

 

[jnevin]

whats the scoop from inside Countrywide? is there another shoe to drop in the subprime mess ?

CW did a ton of subprime business and they bought just about every loan they could when they were available through various warehouse lines. They service over a trillion in home loans. I think they'll be ok, but will lose a ton.

 

[dead_reggin_storage_fashi]

whats the scoop from inside Countrywide? is there another shoe to drop in the subprime mess ?

We are legit. just the amount of money we can make (individual basis) is way way down.

we bought so much shity paper. Cw only writes 16-20% of its own loans.

in my opinion (from the guy who likes Deca-Durabolin - nandrolone decanoate - -Durabolin - nandrolone decanoate - -Durabolin - nandrolone decanoate - , nachos and beer) I think the foreclosures will occur but it take several months or a few years and it will not all occur at once...so it will have not a huge action on the economy.

rates will drop eventually really for the ARMS to adjust
FHA county limits will go up
second mortgages/helocs will be out of style as they will be too $$$

i want to go the commodity business already again

 

[dead_reggin_storage_fashi]

I was pretty much told I became a manager whether I wanted to be one or not. Eh, it's decent on the resume.

print out every customer info from "advantage" and "loan magic " and open my own shop