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Can legal action be taken here?

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JumboPortfolioMortgages | 21 Mar 2018, 03:27 PM Agree 0
I work for a portfolio mortgage bank, with retail branches in the West Coast. We've been going through changes since 09/2017, in particular our rates have been 0.375% to 0.50% higher than competition. Their has been no communication from management or executive management as to why or what direction we are headed. The sentiment/rumor is that we are going through a major re-organization in residential retail lending and private bank/lending. They've kept rates artificially high for several months so LO's resign, in lieu of the bank having to come up with a reason to let them go. Being 100% commission and losing a ton of client and COI partners has hurt LO's allot, many have left and I am interviewing around. We simply can't wait over 6 months to get communication or to become competitive again. The bank seems to want to weed out MC's this way and eventually reorg the group with the MC's who stick it out. I know this is a small scoop/summary, but based on this info, does it sound as if the bank is in any kind of labor or ethical violation of forcing MC's to resign by keeping their rates artificially high? I know its a hard case to prove, but I am honestly so frustrated.
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