Mortgages by Walmart??

Heard on the news this morning. Walmart employees will no longer be wearing the blue aprons. They are trying to create a "professional atmosphere", and lure other "customers" into the store. Each employee will be given 2 polo shirts. They have to buy their own khaki pants. HMMMMMM.....doesn't Target employees dress in red polo's and Khaki pants?

Just thought I would share that bit of info.

Heard on the news this morning. Walmart employees will no longer be wearing the blue aprons. They are trying to create a "professional atmosphere", and lure other "customers" into the store. Each employee will be given 2 polo shirts. They have to buy their own khaki pants. HMMMMMM.....doesn't Target employees dress in red polo's and Khaki pants?

Just thought I would share that bit of info.

They could be wearing Santa Suits and I still wouldn't try to brave the crowds in that store.

The "average guy" is not a walmart employee. The "average guy" is a walmart customer. Please advise how if I pay less for walmart goods than I pay anywhere else, how is this not improving my living standard? As for as the origin of these products, they are ALL made in China, no matter where you
purchase them.

Walmart will be in home loans eventually. It appears to be a problem for some of the people on this board and I am wondering why. About the only adverse posts here reflect to "the loan applications will be taken from some China person" or go there and get your mortgage and get your condoms while you wait on aisle 7. This is cute but drivel.

Why are these people objecting to walmart mortgages? I'll bet they are in the mortgage broker business? If so, I completely understand their grief.

You need to get your application in to Kurt. Tell him you want the Bentonville pay option ARM. With every mortgage, the borrower gets a new American flag made in China. Regarding Wal Mart, if you can't see a company that is helping eviscerate our manufacturing base, killing local small business, and not paying their employees a living wage, then I suspect you may own their stock. WalMart is not what Sam Walton wanted it to become. It, like other stupid American corporations has a twisted business model..... Profit at the expense of community.

You need to get your application in to Kurt. Tell him you want the Bentonville pay option ARM. With every mortgage, the borrower gets a new American flag made in China. Regarding Wal Mart, if you can't see a company that is helping eviscerate our manufacturing base, killing local small business, and not paying their employees a living wage, then I suspect you may own their stock. WalMart is not what Sam Walton wanted it to become. It, like other stupid American corporations has a twisted business model..... Profit at the expense of community.

Agreed ... In the small town where I grew up, people now have to drive 15 minutes to get what they used to be able to just go in town and buy (often able to walk) Many towns/ mom & pops across the country have suffered. Part of the problem was/is that some customers didn't/don't continue to support them because the prices are a bit higher.

What is most irritating is the customers who get the knowledgable service and information on a product from a mom & pop store, then go to Walmart to make their purchase. :angry:

.

Thanks for your comments. Let me see if I understand this. Walmart is rude and crude, the type of store you certainly would not want to shop in or "fight the crowds in" the type of company whose customers are so crude that they dont even have bank accounts. So, if I got a loan from them, they would probably not give me the proper service that would be required. And then if I use a mortgage broker in the area, then I would get much better customer service and so forth. And walmart anyway, they are not used to dealing with such sophistocated customers as ourselves anyway, they are mainly used to dealing with "hand to mouth" type customers. Well, you may very well be right but as for as my needs if I'm looking for a million dollar loan on an 2 million dollar property, I am going to compute my annual debt service. The lowest number wins. Period. Also, just assuming you were going to invest a million dollars and walmart paid you 6% on a cd and the local bank paid you 5%, where would you invest your money? You dont have to answer that question because I think I already know the answer.

Regarding Wal Mart, if you can't see a company that is helping eviscerate our manufacturing base, killing local small business, and not paying their employees a living wage, then I suspect you may own their stock. WalMart is not what Sam Walton wanted it to become. It...... has a twisted business model..... Profit at the expense of community.

Thank you Bob!

Rambunkscious, I practice what I preach, which is why I choose to take my business to locations other than Walmart. As I have stated before, you may be saving $ with Walmart, but you're not - you are just not paying for service.

I may pay more $ at a different location, but I am also getting more for that price - advice from career professionals, convenience, and supporting the type of community I want to live in. I also am willing to bet that in the long run the higher quality of goods, discounts and freebies for being a good customer, and customer service will actually save me more money than being a Walmart shopper.

Hmmmmmmm......just to put things in perspective for me. And really I am just typing out loud to no one inparticular I might add. I am one of those blue collar, paycheck to paycheck kind of folk. Have to watch every penny (because I do like my week vacation every year in paradise). Live in a very small community. I do shop at Walmart. It is convienent for me. I work 40 hours a week. I do not have time to run all over the county to buy my weekly grocieries. The Walmart that I shop in, is clean, and the customer service is great, and I pretty much know most of the employees that work there. Yep, friends of mine who feed their kids and pay their bills on a Walmart salary. I will not feel guilty for shopping there. To each his own. If you don't want to shop there and can afford to shop elsewhere, that is wonderful. You are blessed, be grateful. There are others however, that are not that blessed. Oh, and I also shop at Dollar General because there is one on my way home from work. Sometimes I will swing in there just to pick up a few things.

Thanks for your comments. Let me see if I understand this. Walmart is rude and crude, the type of store you certainly would not want to shop in or "fight the crowds in" the type of company whose customers are so crude that they dont even have bank accounts. So, if I got a loan from them, they would probably not give me the proper service that would be required. And then if I use a mortgage broker in the area, then I would get much better customer service and so forth. And walmart anyway, they are not used to dealing with such sophistocated customers as ourselves anyway, they are mainly used to dealing with "hand to mouth" type customers. Well, you may very well be right but as for as my needs if I'm looking for a million dollar loan on an 2 million dollar property, I am going to compute my annual debt service. The lowest number wins. Period. Also, just assuming you were going to invest a million dollars and walmart paid you 6% on a cd and the local bank paid you 5%, where would you invest your money? You dont have to answer that question because I think I already know the answer.

Rambunkcious, you are putting words in my mouth. I never called anyone crude.
I didn't make up the statistics of the average Walmart shopper, it was clearly printed in the article link I posted. I assume they got their information from surveys.
So don't shoot the messenger. :roll:

I could care less that Walmart is opening a mortgage division. My biz comes mainly from referrals, not a storefront.

and no, I don't use Walmart because it is too crowded in my area and too far to make it my while. I have used it in the past for multiple purchases to stock my rental with domestic goods, (I am not stoopid, I like to save money too, and I have a budget) but other than that I do not regularly shop there for groceries or to buy one item only. I won't spend $10 more on gas, stand on line for 20 minutes to save $10. It doesn't make fiscal sense to me when I get the same savings at Stop and Shop 3 miles from house vs. 15 miles (which is a chain store here in the Northeast)
.

Thanks for your comments. Let me see if I understand this. Walmart is rude and crude, the type of store you certainly would not want to shop in or "fight the crowds in" the type of company whose customers are so crude that they dont even have bank accounts. So, if I got a loan from them, they would probably not give me the proper service that would be required. And then if I use a mortgage broker in the area, then I would get much better customer service and so forth. And walmart anyway, they are not used to dealing with such sophistocated customers as ourselves anyway, they are mainly used to dealing with "hand to mouth" type customers. Well, you may very well be right but as for as my needs if I'm looking for a million dollar loan on an 2 million dollar property, I am going to compute my annual debt service. The lowest number wins. Period. Also, just assuming you were going to invest a million dollars and walmart paid you 6% on a cd and the local bank paid you 5%, where would you invest your money? You dont have to answer that question because I think I already know the answer.

Millionaire investor requests help from Wal Mart loanofficerclerk as per the Peter Principle. One loan fits all with cradle to grave "help" for the masses. Maybe they will next do bail bonds and introduce you to a Wal-barrister to review your closing documents. After all, cheapest is bestest. Right? Wal-Mart has lost the focus of it's core business and is growing by cannibalizing small town America. What a deal!!

Millionaire investor requests help from Wal Mart loanofficerclerk as per the Peter Principle. One loan fits all with cradle to grave "help" for the masses. Maybe they will next do bail bonds and introduce you to a Wal-barrister to review your closing documents. After all, cheapest is bestest. Right? Wal-Mart has lost the focus of it's core business and is growing by cannibalizing small town America. What a deal!!

I don't agree with them getting into the financial services industry, and not because I am a broker, but the possible impact of that business to the market as a whole, particularly the subprime market., but Walmart is not a government entity. It's a publicly traded business.
If it makes fiscal sense to me to drive to Walmart to save money on goods and food items, why wouldn't I?
This is the USA and Wal-mart is just part of our free enterprise system.
I don't see anyone getting upset about getting better rates on CD's and savings with on-line banking companies like the ING's of the world.

Sorry Mango, I completely understand and agree with most of your points.
Simply stated, this is what the future will be. It will help many of us and our friends. There have been many studies on the subject of whether walmart helps or hurts the public, I think all these studies conclude that walmart helps the public. It hurts however the small merchant or businessman who happens to be in their growing number of businesses, you simply cannot compete with them and this is sad.

I wish you good luck in your business, the human and personal effect is something walmart cannot compete with either. And some people are not as sensitive to the bottom line as me.

Given how enormous/widespread Walmart has become...it seems to be way more than SOME customers (more like millions) still choosing Walmart. Walmart is fulfilling some kind of "desire" in millions of consumers lives.

I agree that it's very irritating behavior to "steal knowledge" from a good operation only to go "give" the $$ reward to Walmart ... but it's the customers themselves who are choosing to act "badly" in that transaction ... not Walmart per se.

Is it Walmart's fault that WE as consumers WANT WANT WANT (and have conditioned our children to expect...maybe even throw devil-child-tantrums to GET) MORE MORE MORE?

I'm not "touting OR flouting" Walmart. Just giving an opinion on our collective "modern" American consumerism (I'm guilty too). Millions of people are not being FORCED to pass thru Walmart's front doors. They are CHOOSING to. If/When the "ICK" factor outweighs the perceived "BENNIES"...it'll be the way of Montgomery Wards for Walmart (maybe the feelings about Walmart on this board reflect the beginnings of such a demise...)

OK...everybody... the crap out of me

Bob, thanks for your post, I understand your frustration. I think many businesses and governments especially are guilty of the Peter Principle but I think walmart would be the last company on my list who would be guilty of operating under this principle. Lets face it. They have a masterful and well executed business plan.One size fits all? I doubt it. Bail bonds? I think you would be surprised what businesses they will be in the future. I am not a stockholder just an admirer. Will you loan me some of that pepper spray?

Sam Walton had a vision. He pursued his vision. He made a lot of money for himself and his family. Isn't that what all of us strive to do? Given the opportunity, would not all of us like to have the kind of money that this man had/and his family has? I would. He started a business. That business meets the needs of many, many people who "choose" to shop there. Now, would I get a mortgage from Walmart? Probably not...I hope I never have another mortgage, unless of course I make those millions someday and can buy me a beach house. I am just saying that the Walmart bashers out there, I am sure would love to have started that business and succeeded as well as Sam Walton did. IMHO!!!!

I think Sam Walton had a great idea and was a great businessman. He would not like what his vision and empire have turned into IMO.

Sam Walton had a vision. He pursued his vision. He made a lot of money for himself and his family. Isn't that what all of us strive to do? Given the opportunity, would not all of us like to have the kind of money that this man had/and his family has? I would. He started a business. That business meets the needs of many, many people who "choose" to shop there. Now, would I get a mortgage from Walmart? Probably not...I hope I never have another mortgage, unless of course I make those millions someday and can buy me a beach house. I am just saying that the Walmart bashers out there, I am sure would love to have started that business and succeeded as well as Sam Walton did. IMHO!!!!

I agree .

I think Sam Walton had a great idea and was a great businessman. He would not like what his vision and empire have turned into IMO.

Exactly what has his vision and empire turned into that he would not have liked?

Is it not every businesses desire to be the best at what they do? Isn't that why businesses are started everyday? To be the best, to make the most money? I mean, why start and continue a business if it is not your desire to be the #1 business.

I agree .

Just a thought Dune-AHH...you are up so early that you could go to the 24 hour Walmart and shop til you drop!!!

never mind D-A, I was confused with the time.

Exactly what has his vision and empire turned into that he would not have liked?

Is it not every businesses desire to be the best at what they do? Isn't that why businesses are started everyday? To be the best, to make the most money? I mean, why start and continue a business if it is not your desire to be the #1 business.

Walmart is a parasite. I am firmly convinced it will eventually destroy this country and the american way of life. You can shop there and use whatever services they provide, but I feel the overall cost of doing business with them is too much to pay for the instant and temporary gratification of low prices.

Walmart is certainly the best at what they do - paving over acres of land, building giant warehouse stores, abusing their employees, destroying communities, driving their competitors out of business and into the ground, and eliminating customer service and quality.

I don't think how much money a company makes means it is the best anymore than ones bank account is a measure of how good of a person you are. HOW they make that money and the long term effects also need to be considered.

Just a thought Dune-AHH...you are up so early that you could go to the 24 hour Walmart and shop til you drop!!!

Actually...I'm just up so LATE that it "appears" EARLY! I'm a total dud when it comes to shopping ... Spent TOO MANY years in retail doing competitive shopping for work. These days I "drop" before I get out of the driveway!
I'd rather ...
.
.
reorganize my sock drawer than shop. ;-)

Sorry Mango, I completely understand and agree with most of your points.
Simply stated, this is what the future will be. It will help many of us and our friends. There have been many studies on the subject of whether walmart helps or hurts the public, I think all these studies conclude that walmart helps the public. It hurts however the small merchant or businessman who happens to be in their growing number of businesses, you simply cannot compete with them and this is sad.

I wish you good luck in your business, the human and personal effect is something walmart cannot compete with either. And some people are not as sensitive to the bottom line as me.

Yes, put all your faith in one gigantic, enormous company that will serve all your needs. Where have we down this road before?

Sam Walton had a vision. He pursued his vision. He made a lot of money for himself and his family. Isn't that what all of us strive to do? Given the opportunity, would not all of us like to have the kind of money that this man had/and his family has? I would. He started a business. That business meets the needs of many, many people who "choose" to shop there. Now, would I get a mortgage from Walmart? Probably not...I hope I never have another mortgage, unless of course I make those millions someday and can buy me a beach house. I am just saying that the Walmart bashers out there, I am sure would love to have started that business and succeeded as well as Sam Walton did. IMHO!!!!

That's like saying today's America is George Washington's baby. Sam Walton, were he around now, would clean house and put this country as the primary source of product. It makes sense in the long run. It about doing what's right for your country.

Bob, stuff made in this country costs at least twice as much as stuff made in China. Much of the stuff made in this country is not twice or even as good as stuff made in China. If I were to buy stuff made in this country, I would have to have two jobs just to break even. Is this what you propose? I hope not, because if it is, this is not a groundswell for you.

Bob, stuff made in this country costs at least twice as much as stuff made in China. Much of the stuff made in this country is not twice or even as good as stuff made in China. If I were to buy stuff made in this country, I would have to have two jobs just to break even. Is this what you propose? I hope not, because if it is, this is not a groundswell for you.

You are being short sighted. It's not about lowest at the expense of your country. With Wal Mart's massive economies of scale, goods in America can be produced cheaply with massive factory orders. Regarding Chinese quality, well what product group are you talking about? Pencils, microprocessors, cars, shampoo? We've given away the farm with their currency manipulation and have enabled our own deficit spending because they buy huge chunks of our debt. It's bad business for America to do these things for low prices, because the scenario I point out weakens our country, and is not fiscally sustainable in the long run. It's much like the Latin bumrush across our borders. Personally, I can remember paying 200.00 for my first DVD player at Costco. Now 30.00 buys one made in China. Every room in my house that has a TV has a DVD player. Do I need them? No. Does it raise my standard of living? I would argue no. I would rather pay 99.00 for one American made player built by Americans. There would be less trade deficit, less foreign influence from our debt purchase, and more national strength through manufacturing infrastructure. Our country would be more self sufficient and could not easily be held hostage by any country or group like OPEC. This was the scenario we had during the cold war. China owns us business wise, and we rely on them too much for manufacturing sourcing. One day they're going to face us down when we object to their military ambitions. Will we have the sway to make our position stick when they produce most of our everyday goods? That's the true cost of your cheap Chinese products we take for granted today, much like OPEC and terrorism, our dollars our slowly funding a problematic rival at the expense of our autonomy and way of life.

Thanks Bob for clearing that up for me!