Looking for employment!!!!

[stilov]

As of Monday, HSBC (my parent company...and one the largest banks in the world) announced the shutdown of the entire US consumer finance branch network....which included myself.
So, now after 5 yrs and several moves with the company...I am in Ft Worth looking for another job.

Could you guys keep me in mind.

To give you a bit of an idea...I was a branch sales manager in charge of yes...you guessed it salespeople. One of our branches consisted of about 30-45 million dollars worth of outstanding loans and I was charged with training, coaching, career development, human resource, goal setting, selling, etc.

I am fluent in Spanish as well.

I am newto TX...sort of. I grew up here, but it's been almost 10yrs since I moved away.

THANKS!!!

[ArizonaE36]

There's nothing but sales jobs on Craigslist and CareerBuilder, etc.

Sorry you lost your job, but wasn't HSBC was one of the scummier companies out there?

[MCM97]

you're thinking of Bank of America Nik

[ArizonaE36]

No, Household was pretty messed up.

But you're right, Bank of (illegal aliens invading) America is pretty bad too.

[stilov]

Sure there will be opinions. Household did go through some serious litigation in early 2000's but after working for them...they were so straight that I think they err'd on the cautious side. They were primarily a subprime lender..subprime are higher rates...period. The companies that did otherwise...went out far sooner. HSBC is constantly praised around the world for customer and employer relations and with many implementations that resulted from the litigation...we were an industry leader in ethics (although it's unfortunate a company did start that way)

[RADI0ACTIV3M4N]

sell cutco

[Pepe240sx]

Originally Posted by stilov

As of Monday, HSBC (my parent company...and one the largest banks in the world) announced the shutdown of the entire US consumer finance branch network....which included myself.
So, now after 5 yrs and several moves with the company...I am in Ft Worth looking for another job.

Could you guys keep me in mind.

To give you a bit of an idea...I was a branch sales manager in charge of yes...you guessed it salespeople. One of our branches consisted of about 30-45 million dollars worth of outstanding loans and I was charged with training, coaching, career development, human resource, goal setting, selling, etc.

I am fluent in Spanish as well.

I am newto TX...sort of. I grew up here, but it's been almost 10yrs since I moved away.

THANKS!!!

That sucks man, did you at least get a decent severance payout?

[UmmYeahOk]

Originally Posted by ArizonaE36

Sorry you lost your job, but wasn't HSBC was one of the scummier companies out there?

Yep, theyre all over BBB, and ripoffreport.com. A lot of people lost their homes due to their evil tactics. We however are in no danger. We took out a 2nd mortgage with them, and overpaid for months. Turns out non of it was going towards principal. They just saw it as an early payment. We wouldnt need to pay again for an entire year. Since they were going to have us suckered in for 30 years, they found a way for us to apply for ANOTHER loan, which was larger and again, had fees like with any mortage. We were PROMISED that if we overpayed it would go towards principal. But STILL the SAME tactic. Theyre more than happy to apply it to our principal, but we have to CALL them every time we make a payment.

Youd think theyd be more than happy that one of their customers wants to give them more money each month, while theyre losing money due to foreclosures that wont sell. But I guess they see it as a threat since theyr'll be making far less since they cant charge us 30 years of interest

I wonder if they fled the US after all the law suits. Theres just soo many complaints that Ive read, each unique and diffeerent. I gave up finding someone who had the same issue as us

[stilov]

it's called simple interest...which is actually a great way to reduce interest paid. My guess is you had someone that didn't know how to explain it. You can find complaints of EVERY finance company in the BBB.
A lot of people's homes were lost for many reasons. I believe there were many responsibilities from consumers and mortgage companys that were completey shirked with the promise of money. I am sorry you had a bad experience, but you must realize that so many people get worked up beyond comprehension when dealing with finances...so much so that many problems that could have been resolved were escalated. Not just in HSBC's case.

I did not mean for this thread to be a rating of the company I worked for...just merely a request that if you are in the industry or a similar one...let me know.

Yes I get a severance, but I am not about to let that support me (not that it's big enough)
I am going to take this situation and make it better....it's what I do.

[ArizonaE36]

Originally Posted by UmmYeahOk

Yep, theyre all over BBB, and ripoffreport.com. A lot of people lost their homes due to their evil tactics. We however are in no danger. We took out a 2nd mortgage with them, and overpaid for months. Turns out non of it was going towards principal. They just saw it as an early payment. We wouldnt need to pay again for an entire year. Since they were going to have us suckered in for 30 years, they found a way for us to apply for ANOTHER loan, which was larger and again, had fees like with any mortage. We were PROMISED that if we overpayed it would go towards principal. But STILL the SAME tactic. Theyre more than happy to apply it to our principal, but we have to CALL them every time we make a payment.

Youd think theyd be more than happy that one of their customers wants to give them more money each month, while theyre losing money due to foreclosures that wont sell. But I guess they see it as a threat since theyr'll be making far less since they cant charge us 30 years of interest

I wonder if they fled the US after all the law suits. Theres just soo many complaints that Ive read, each unique and diffeerent. I gave up finding someone who had the same issue as us

Anytime you make an overpayment on ANY loan you need to signify the overage go towards principal, that's the way it works, and your mortgage broker should have told you that. Just write APPLY BALANCE TOWARDS PRINCIPAL ont he memo section on your check and make a call to the servicing company.

Schools really need to start teaching people how to live... balance a checkbook, how credit works, how mortgage/deed of trust loans work, etc.

[stilov]

couldn't agree more...finances aren't taught in school and even when you specialize there is still limited formal schooling available!!!!

however with simple interest...any over pmt goes to the principal and interest is recalculated at a low daily accrual (based on a now lower balance) The mistake is they should have told that while it pays you ahead (date wise) interest still accrues daily and your next pmt won't even be enough to cover the interest that has accrued. Anyway...if you have other Q's simple interest...let me know...most auto loans are also calculated on simple interest but you hear less complaints about them solely b/c they are smaller balances and normally amortized over short periods of time.
HSBC finally went to a schedule to schedule calculation...which in my opinion is not as good, but far more "user friendly"
Simple is AWESOME if you are really discinplined...but as many experience gets out of control quickly.
It is no secret that there is ZERO!!!! barrier to entry in the mortgage world...although at least now there is a test.
There were plenty of people in the industry that still didn't know what the heck was going...as we all reap benefits of now (sarcasm there)

[Phypha]

Digging ditches is what I do. You should try that.

[MCM97]

Originally Posted by ArizonaE36

Schools really need to start teaching people how to live... balance a checkbook, how credit works, how mortgage/deed of trust loans work, etc.

But that wouldn't be fair. What if someone has more money or better credit than the next student? It wouldn't be fair Nik. I think instead of teaching them things like the above we should just appreciate and embrace our diversity and know that everyone is special. And no more first place trophies - Participant trophies for all!!!!



/sarcasm

[ArizonaE36]

LULZ

Celebrate the diversity of our income levels

[stilov]

Even if it is zero!!!!!

[UmmYeahOk]

Originally Posted by stilov

it's called simple interest...which is actually a great way to reduce interest paid. My guess is you had someone that didn't know how to explain it.

I'll just say that they had a location in Lewisville, and if they knew what they were doing, they wouldnt have left in 2006.

Originally Posted by ArizonaE36

Anytime you make an overpayment on ANY loan you need to signify the overage go towards principal, that's the way it works, and your mortgage broker should have told you that.

Really, how come our home mortgage, former car loans, student loans ARE NOTHING like that. Every time we over pay, its automatically done. They dont just say "Oh youre good for the next few months, you dont need to pay anything until then."

Also, how come our first loan with HSBC wouldnt let you overpay on the principal at all? Even if you begged? You could walk in, hand them the EXACT amount of money they loaned you, but youd still owe them the full amount they would have made off 30 years of interest had you paid the minimum every month.

Just write APPLY BALANCE TOWARDS PRINCIPAL onto he memo section on your check and make a call to the servicing company.

Checks? what are those? We pay online. And we do call. EVERY MONTH. Weve even had some of the people we talk to say that if it happens again, and doesnt automaticlly deduct that we need to call them back, and they'll get it sorted out so it doesnt happen again. But it does... ...again and again.

What happens is if you pay more than 2 months of the minimum, they view it as several future payments. It doesnt show you as owing any less than if you had just paid the minimum. But if you pay less than 2 months, say 1 month and 4/5th of a month, that automatically gets taken from the principal and no call is needed.

Originally Posted by stilov

It is no secret that there is ZERO!!!! barrier to entry in the mortgage world...although at least now there is a test.
There were plenty of people in the industry that still didn't know what the heck was going...as we all reap benefits of now (sarcasm there)

Problem was we just needed a few thousand. The interest rate was better than the credit card. It just made sense. But now that our household income has more than tripled, we would like to pay this stuff off as quick as possible, and theyre fighting real hard to prevent this.

[ArizonaE36]

You fail at life.

[stilov]

If you have serious Q's...I'd be more than happy to answer them via PM. If you just want to talk about XXX company is bad...that's fine.
Basically I am looking for employment.
(not trying to be a jerk...I mean no offense to anyone)