Fallout from our financial down turn

lookout123 · 03-10-2008, 02:58 PM

Privacy act info was far more protected at the car store I worked at than ANY of the numerous mortgage companies I've seen the inside of. The car store operated exactly how you described. The mortgage companies are a completely different story. If you did an inspection you would find of loan officers you would find:

1) Client application packages sitting on desktops, credit apps, pay stubs, w-2's copied right inside.

2) Stacks of old CBR's sitting in drawers.

3) If you could follow them home you'd also see copies of that stuff at the LO's home - for the day they decide to go to a competitor, they can recontact all previous clients.

I've seen it time and time again.

03-10-2008, 02:58 PM	#7
lookout123 changed his status to single Join Date: Apr 2004 Location: Right behind you. No, the other side. Posts: 10,308	Privacy act info was far more protected at the car store I worked at than ANY of the numerous mortgage companies I've seen the inside of. The car store operated exactly how you described. The mortgage companies are a completely different story. If you did an inspection you would find of loan officers you would find: 1) Client application packages sitting on desktops, credit apps, pay stubs, w-2's copied right inside. 2) Stacks of old CBR's sitting in drawers. 3) If you could follow them home you'd also see copies of that stuff at the LO's home - for the day they decide to go to a competitor, they can recontact all previous clients. I've seen it time and time again. __________________ Getting knocked down is no sin, it's not getting back up that's the sin

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