Top residential loan officers working for Bank of America are continuing to flee the troubled lender with its latest casualty being David Macke, who ranks first among all purchase money LOs at the bank.
Based in Southern California, Macke recently accepted a position with Wells Fargo & Co.
The LO told National Mortgage News that he felt no ill will toward B of A, saying “The bank treated me well.” His specialty entails working with builder reps. He declined to comment further.
Officials familiar with Macke's production record say he is the bank's purchase money leader, and ranks number three nationwide in terms of UPB.
A spokesman for B of A confirmed that Macke has left the company, adding that “We're very sorry to lose him or any of our top LOs.” He added that the bank is working hard to improve its loan processing times, a chief complaint of some departing LOs.
A dozen past and present B of A LOs interviewed by NMN in recent weeks have complained about slow processing times, and lamented the departure of several of their peers who jumped ship because of instability in the mortgage unit.
One B of A LO called its processing times a “joke,” saying purchase loans can take 45 days to process. The loan officer, requesting his name not be used, said the bank is still working on refis left over from June.
