We received this today: “I was a previous manager of HSBC. Recently I was told to step down and take a huge pay cut. The reason is unclear, but HSBC used the worst months of the year to make their decision. A company of so many politics should understand my reasoning for this complaint. In NC Account Executives are forced to sell insurance or have potential to be fired, or not get a raise at the end of the year. This opens the door for packing insurance. I have been on many ill manner calls, w/ warnings of write-up’s and firings if I didnt sell insurance on my loans.
“I know all around the company, upper management forces employees to sell insurance or its their job. Also the training is ridiculous. In North Carolina you can originate loans under a limited loan officer license, without 24hrs or 8hrs of yearly updates. We get an email from a manager who passed the test, with the answers to give to the employees so they all pass the test. In my opinion, all employees should have to be actual loan officers, not limited. Why does a shady company such as Household get the ok for limited loan officers to sell mortgages at 13% interest rates?
“This is just a bad company to work for and do business with. You are taking loans because you have no where else to go besides Household/Beneficial. People, you dont have to take insurance. Say no, get your own insurance cheaper, ask questions, be prepared. I feel sorry for the employees still working for an unethical company such as HSBC/ Household/Beneficial, but at least you have a job still.”
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