Reveal some company secrets, Now that you don’t work there anymore
- Thread starter Nostalgic
- Start date
When I worked in banking an appraiser told me he was artificially raising the cost of homes he inspected to keep that gravy train running
You really did dodge some shyt.
At the time, we were selling the shyt out of some bullshyt Pay-Option ARM.
It was basically a negative-amortization product if you weren't financially savvy.
I think at one point, something like 50% of our FSL (Full Spectrum Lending aka Subprime) loans were that Pay-Option ARM.
I won't lie tho... those fukked up loans paid a LOT of bills for me over the years.
Breh I was still in college with 3 small kids, working part time at RDU and a group home and they was going to give me a 350k loan for a new development.
It was by the grace of God something came up and we ended up moving back to VA.
BaldingSoHard
Veteran
When I worked in banking an appraiser told me he was artificially raising the cost of homes he inspected to keep that gravy train running
Oh absolutely.
The whole system was broken.
Everybody involved mortgage was getting PAAAAAAAID
and none of us wanted it to stop.There were two times in 2006 when I got handed a 15% raise. TWO TIMES... within 6 months. Not end of year increase, not anything just, "Oh hey we had some extra money in the pile you want it?"
I miss that gravy train for sure.
Oh absolutely.
The whole system was broken.
Everybody involved mortgage was getting PAAAAAAAID
There were two times in 2006 when I got handed a 15% raise. TWO TIMES... within 6 months. Not end of year increase, not anything just, "Oh hey we had some extra money in the pile you want it?"
I miss that gravy train for sure.
No kidding. Being exposed to the system was unreal. The greed was insane. I’ve seen so many loans of all types and sizes get a pass because there was too much money being made. Lending standards were a farce back then.
I think I said this in the old thread but when I was an over the phone customer service rep/retention agent for Direct TV every customer who called in had a star rating 1-6 that basically corresponded to their "value"
1 star customers were customers who were consistently late on payments and usually had cheaper programing packages.
6 star customers were ones who were rarely if ever late and had the more expensive packages and bundles.
Lower star customers were locked out of the best promotions...like free months of things like HBO and sport channels like Redzone, discounts on certain packages.
1 star customers wouldn't have shyt but maybe $5 off for autobill pay.
So the CSR's hands would be tied with lower star customers and wouldn't be able to offer them anything significant to retain them. But if the customer complained enough and got a manager on the phone they could usually bypass all that.
Also, I don't know if the systems are improved as this was 10 years ago, but if a agent was trifling enough it was easy as a click to sign up customers for packages or upgraded equipment they didn't authorize to get the commission. And if they didn't leave a notation on the account it'd was difficult to see who was responsible.
For example shady CSR's would claim to upgrade customers for free when it wasn't just to shut them up and keep their retention numbers up. The odds of them reaching the same CSR if they call back were slim to nothing. So some other agent would get cursed out for it.
I ended up quitting Direct when one of the senior agents whos job it was to "coach" agents with low retention ended up upgrading an elderly woman to a DVR she didn't ask for locking her in to a 2 year contract.
1 star customers were customers who were consistently late on payments and usually had cheaper programing packages.
6 star customers were ones who were rarely if ever late and had the more expensive packages and bundles.
Lower star customers were locked out of the best promotions...like free months of things like HBO and sport channels like Redzone, discounts on certain packages.
1 star customers wouldn't have shyt but maybe $5 off for autobill pay.
So the CSR's hands would be tied with lower star customers and wouldn't be able to offer them anything significant to retain them. But if the customer complained enough and got a manager on the phone they could usually bypass all that.
Also, I don't know if the systems are improved as this was 10 years ago, but if a agent was trifling enough it was easy as a click to sign up customers for packages or upgraded equipment they didn't authorize to get the commission. And if they didn't leave a notation on the account it'd was difficult to see who was responsible.
For example shady CSR's would claim to upgrade customers for free when it wasn't just to shut them up and keep their retention numbers up. The odds of them reaching the same CSR if they call back were slim to nothing. So some other agent would get cursed out for it.
I ended up quitting Direct when one of the senior agents whos job it was to "coach" agents with low retention ended up upgrading an elderly woman to a DVR she didn't ask for locking her in to a 2 year contract.
When you donate to fundraisers outside of stores only about 30% of that actually goes to the nonprofit. Stop donating to the people and just donate directly to the nonprofit. Those people collecting are actually hired by marketing firms that make crazy profits off exploiting good hearted people.
Worked at a car repair shop. The lies they will fkn tell you about your car to get money out of you knows no ends. Glad I quit that place, lying to fixed income old ladies and making them finance car repairs with an 88% EIGHTY EIGHT percent interest rate was soul less. People would have cars just fine and all of a sudden needed a brake job etc.
Not really much of a surprise. That's always been a common practice by machines they fix one thing on your car and purposely tear something else up on it to get you keep coming back in.
