I suspect an FDIC takeover. The purchase of World was a criminal conspiracy involving kickbacks, bribes, everything else (people always wondered how Wachovia could make a purchase they were warned against making). It seems Wachovia was raided the other day.
This bank is through.
wasanichelender Flash in the pan
Joined: 18 Jul 2008
Posts: 58
Location: North of Mason-Dixon Line
Death to the purveyors of the Pick-A-Pay Option Arm, DIIIIIEEEE!!!!!
_________________ "When purchasing a home, you should overbuy. That way, you'll be motivated to work harder." -Advice from former Sales Manager before the Great Layoffs of 2007.
At least the executive management let their valued employees know they were going to be terminated. ComUnity Lending hosted several (extremely rare) conference calls with the sales force and staff to explain precisely how and why we were going to "make the turn" last August.
On Friday, before the close of the month, the EVP of Sales chided his sales reps for not signing up NEW ACCOUNTS...."because the shops you're in today may not be there come Monday!"
ComUnity wasn't there that Monday. In the most child-like of business decisions I've ever witnessed...they decided to HIDE from their employees! Yes! You can't make this up! They decided the best course of action for closing the company was to HIDE! The didn't answer phones and quietly cut every employee's e-mail account!
Brokers were calling! Borrowers were calling! Title and closing companies were calling! They hid...no lie....just hid from the world. The Account Execs got word via snail mail several days later from a third party payroll company stating ComUnity hadn't deposited the funds for payroll and had breached the contract. That didn't even have the stones to send any of the members of their "family" (I hate when corporations use that trite term) a letter!
View next topic View previous topic
You cannot post new topics in this forum You cannot reply to topics in this forum You cannot edit your posts in this forum You cannot delete your posts in this forum You cannot vote in polls in this forum
