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“I also worked for the Beneficial side of HSBC for several years. About a year after working for the company, because of my excellent performance in unknowingly deceiving people, I was asked to start in the management training program, with the hopes of becoming a branch manager in the near future. I jumped through hoops for two years, sacrificing my income because I was so busy being a “team player” with training, coaching, and running other peoples branches that I could not book loans myself.
I was promised a branch as soon as one became available by upper management and was passed over on several occasions. I was being promised a branch all the way up to two weeks before layoffs were announced. I have also found an excellent lender that I am working for now with excellent rates and fair business practices and I am happier than I have been in a long time.
HSBC is a horrible company to work for and even more horrible to their customers. My last few months I worked there I started refusing to sell unethical loans. For example we were instructed, for our auto refinancing, that if we couldnt lower a customers rate or payment on their auto by stretching out their term we were to sell them on being able to skip a payment. Yes they wanted me to take customers from single digit interest rates to double digit interest rates raise their payments by $150, stretch their term another 2 years all so the customer can skip a $500 car payment AND WHATS SO SAD ABOUT THIS, IS THESE LOANS ARE BEING SOLD EVERYDAY! I can’t tell you how many mortgages are sold monthly at 105% LTV on the promise that the customers can come back in 6 months and WE WILL give them a lower rate.
I apologize to all the customers of HSBC that I wrote loans for over the past 4 years, but you all have to understand that 90% of the loan officers working for HSBC actually are conned into believing that they are truly helping their customers. It took me a long time to wise up, but I finally did. To all the employees at HSBC who will be losing their jobs, my heart goes out to you, but know there are still some good companies out there to work for.”
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