Rewarding employees to wreck peoples' credit?
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Countrywide Bank, aka Countrywide Home Loans penalizes employees (loan officers, aka salespeople) if they do not pull credit on enough people. In Countrywides defense, this is considered a "FULL" application. Employees have high application quotas that cannot be attained unless they pull credit on people they KNOW they have no chance of financing.
Each time credit is ran, it lowers the score. Isn't there a better way?
Rewarding employees to wreck peoples' credit?Judging form news reports, I have to question your assumption that there was *anyone* that they wouldn't finance. :)
Anyone concerned about their credit score was not seeking finance there.
But it seems perfectly reasonable to me that anyone that applies for a loan should have credit run so decisions about which loan to offer can be made accordingly.
Rewarding employees to wreck peoples' credit?They are all crooks !
Rewarding employees to wreck peoples' credit?Knowledge of what is done by whom is the best defense. I wouldn't trust such companies having had problems with such companies before.
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