http://blownmortgage.com/2008/01/31/suntrust-to-close-several-wholesale-branches-around-the-country/ #1 Free Home Loan Modification & Debt Relief Help For US Home Owners - Truths, Facts & News About the Mortgage Industry Sat, 07 Nov 2009 02:53:18 -0700 http://wordpress.org/?v=2.8.3 hourly 1 http://blownmortgage.com/2008/01/31/suntrust-to-close-several-wholesale-branches-around-the-country/comment-page-1/#comment-9535 MT Fri, 01 Feb 2008 16:44:37 +0000 http://blownmortgage.com/2008/01/31/suntrust-to-close-several-wholesale-branches-around-the-country/#comment-9535 What is interesting here is that SunTrust uses a lot of contract workers for underwriting and processing. You don't hear about these layoffs as they are not technically employees. They are told just to not come in today as there isn't any work. Additionally, much of the underwriting for the wholesale AND retail is done in the same office. Lots of overlap, unlike other lending models. I have to wonder how this will affect the retail side. What is interesting here is that SunTrust uses a lot of contract workers for underwriting and processing. You don’t hear about these layoffs as they are not technically employees. They are told just to not come in today as there isn’t any work. Additionally, much of the underwriting for the wholesale AND retail is done in the same office. Lots of overlap, unlike other lending models. I have to wonder how this will affect the retail side.

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