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Schumpeter Reincarnate
Joined: 24 May 2008
Posts: 46269
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thebfgb
Schumpeter Reincarnate
Joined: 21 Jan 2008
Posts: 3256
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Why isnt there a Chase Prime Wholesale topic? They are only going to be the number 1 wholesale company this year...... |
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mtg chick
Schumpeter Reincarnate
Joined: 26 Mar 2008
Posts: 5024
Location: Florida
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| thebfgb wrote: |
| Why isnt there a Chase Prime Wholesale topic? They are only going to be the number 1 wholesale company this year...... |
IDK dude...according to some on here Chase is going to discontinue wholesale all together. Not that I buy into that **** but you already know that bout me. |
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thebfgb
Schumpeter Reincarnate
Joined: 21 Jan 2008
Posts: 3256
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| mtg chick wrote: |
| thebfgb wrote: |
| Why isnt there a Chase Prime Wholesale topic? They are only going to be the number 1 wholesale company this year...... |
IDK dude...according to some on here Chase is going to discontinue wholesale all together. Not that I buy into that **** but you already know that bout me. |
Well since he uses the CEO's name (what a joke) maybe he knows something. Haha. He's just bitter cuz he got layed off and will spread any rumor he can because of this. And since he got layed off instead of going out when the ship sank all together it means he wasn't producing at that time they let him go. That should tell you something about him.
I would really love to hear his reasoning that Chase is leaving wholesale. All of the evidence suggests otherwise. They are hiring new AE's, managers, and DE underwriters left and right, they just launched a new platform, and they are ramping up the ops centers. Nobody is being layed off, no downsizing, no closings. Lastly they are currently the top producing wholesale lender and are expected to be number 1 this year just ahead of Wells.
Now of course anything is possible but there isn't one thing that would make someone think this at this point. |
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oldschoolmortgage
Dud?
Joined: 21 May 2008
Posts: 21
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I guess you missed Dimon's comments about mortgage brokers and the 4 times greater delinquency in wholesale over retail. He basically accused all brokers of being fraudmongers. |
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thebfgb
Schumpeter Reincarnate
Joined: 21 Jan 2008
Posts: 3256
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| oldschoolmortgage wrote: |
| I guess you missed Dimon's comments about mortgage brokers and the 4 times greater delinquency in wholesale over retail. He basically accused all brokers of being fraudmongers. |
I guessed you missed the part about:
They are hiring new AE's, managers, and DE underwriters left and right, they just launched a new platform, and they are ramping up the ops centers. Nobody is being layed off, no downsizing, no closings. Lastly they are currently the top producing wholesale lender and are expected to be number 1 this year just ahead of Wells. |
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oldschoolmortgage
Dud?
Joined: 21 May 2008
Posts: 21
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I also noticed they posted for four subprime wholesale rep positions two weeks ago, about 1 week before they shut the whole thing down. Oops. From the surface the water can often look clearer than it really is. I am not trying to be negative, just pointing out that what they appear to be doing and what they do are often not the same thing. They put Sheehy in charge of the whole thing and he is a notorious correspondent guy, and now the old head of prime wholesale is "retiring" at the end of the year. Curious, No? |
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kuuner
Cherry Bomb
Joined: 13 Feb 2008
Posts: 182
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| oldschoolmortgage wrote: |
| I also noticed they posted for four subprime wholesale rep positions two weeks ago, about 1 week before they shut the whole thing down. Oops. From the surface the water can often look clearer than it really is. I am not trying to be negative, just pointing out that what they appear to be doing and what they do are often not the same thing. They put Sheehy in charge of the whole thing and he is a notorious correspondent guy, and now the old head of prime wholesale is "retiring" at the end of the year. Curious, No? |
That back and forth was like watching a tennis match. 40/15 Oldschool? |
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thebfgb
Schumpeter Reincarnate
Joined: 21 Jan 2008
Posts: 3256
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How many ops centers have been shut down in prime?
How many underwriters have been layed off in prime?
How many producing AE's have been let go in prime? |
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thebfgb
Schumpeter Reincarnate
Joined: 21 Jan 2008
Posts: 3256
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Obviously you were the last one to know he was retiring. This has been known for the last few years. Great scoop! |
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