Wells Fargo Employees Facing Pressure to Sign

Employees at the Wells Fargo office in Charlotte, NC, are citing increased pressure to met a daily quota of signed, sworn foreclosure documents. According to several employees who wished to remain anonymous because of feared repercussions to their jobs, these “Vice Presidents of Loan Documentation,” as the entry-level processors are titled, are being pressured to complete up to 11 foreclosures each day.

At that rate, things are being overlooked or missed, which could have serious implications for the homeowners facing foreclosure. The penalty of falling short of the quota? First a verbal warning, followed by a written one. If a second written warning is received, they lose a paycheck. Despite sweeping changes enacted after the robo-signing scandal, mistakes are likely still getting through. This gives little assurance that their files are being carefully examined before being sent to foreclosure.

Read the complete article here.

Leave a Reply

Your email address will not be published. Required fields are marked *


Hacking the Process Flipping Houses in Record Breaking Time

Jun 30, 2021

Discovering Purpose Through Crisis

Jun 23, 2021

Use Metrics, Not Emotions, When Purchasing Multifamily Units

Jun 16, 2021

Doing Your Due Diligence When Purchasing Multifamily Investments

Jun 09, 2021

Become a Successful Investor When Starting At Ground Zero

Jun 02, 2021

2021 Strategy Session for Wholesalers

May 26, 2021

Why We Bought a Class A Duplex From a Student

May 19, 2021

Pay Less Taxes with High Level Tax Depreciation Strategies

May 12, 2021