Mr. Goodhair

[wolfie]

Not familiar with the laws where you are, but it's standard practice for tax liens to go to the "front of the line" regardless of whether or not there are other liens on the property. Government wants the money, government makes the rules.

Goodhair buys a mortgage on a property that has a higher-priority claim, in a situation where the borrowers wouldn't be eligible to take out a new mortgage through your bank? Sounds like he just threw away a bunch of the bank's money.

[eltf177]

Not familiar with the laws where you are, but it's standard practice for tax liens to go to the "front of the line" regardless of whether or not there are other liens on the property. Government wants the money, government makes the rules.

Goodhair buys a mortgage on a property that has a higher-priority claim, in a situation where the borrowers wouldn't be eligible to take out a new mortgage through your bank? Sounds like he just threw away a bunch of the bank's money.

This is exactly what I was thinking...

[Ghel]

To add to this CF, I found out from my boss today that the previous bank wrote off a large chunk of the loan before they sold it to us. It sounds like they wanted to get out from under it. Plus Goodhair knew their checking account with that bank was constantly overdrawn. Apparently, Mrs. Borrower has a gambling problem. My boss says this deal reminds her of the previous bank presidents' deals - the deals which caused the bank to be closed by the FDIC and sold off to the new bank.

[Ophbalance]

I'm familiar with writing off medical debt, but how do you write off a secured loan??

[mhkohne]

I'm familiar with writing off medical debt, but how do you write off a secured loan??

The bank writes it off on their own books, basically admitting that they aren't going to see that money again, and calling the difference between what they loaned out and what they sold the loan for as a loss.

[eltf177]

And _NOBODY_ higher up sees a problem here?

Boy, whatever blackmail material Goodhair's got it _MUST_ be spectacular - or gross beyond belief!

[Ghel]

I doubt there's any blackmailing going on, but you never know. I think it's more likely that the borrowers on these bad loans are Goodhair's drinking buddies. He's not shy about telling us about when he's been out drinking. At least he doesn't blame his late arrival and red face on the hot peppers on his pizza (like the former bank president mentioned in my last post).

Oh, and these winning customers paid the interest between when we bought the loan and when we rewrote it by check. A check that was returned for insufficient funds.

[Cecily]

And _NOBODY_ higher up sees a problem here?

Boy, whatever blackmail material Goodhair's got it _MUST_ be spectacular - or gross beyond belief!

Hopefully there is no livestock involved.

[eltf177]

Oh, and these winning customers paid the interest between when we bought the loan and when we rewrote it by check. A check that was returned for insufficient funds.

Simply lovely! How long before you got a _good_ check?

[Ghel]

Simply lovely! How long before you got a _good_ check?

We haven't yet. Checks returned for insufficient funds generally go through the system a second time. If it's returned again, we'll insist on a cashier's check to replace it.

[Barefootgirl]

If your bank folds, will you lose your job? Or will it just be sold onto another 'good ole boy' business? This all sounds terribly fishy and frankly, I would be debating whistleblowing to the regulator (state or federal - is that right? Federal?).

[Ghel]

It took years for the bank to be closed previously for this kind of behavior. Goodhair's only been here about 7 months. But give him time and leeway...

I doubt I would lose my job. I didn't when the bank was closed and sold 3 1/2 years ago.

There's little I could report that wouldn't be obvious to examiners. The customers' income and credit scores are input right on the mainframe. You can see that the first loan was only on the books for a month before it was rewritten. Anybody who looks in the file can see that there's no title work from when we bought the loan.

[Ghel]

I got in a little bit of trouble today over a slightly snarky email I sent Goodhair after he forwarded me incomplete information for a deposit account.

Quick Background: The tribe that we're doing loans for recently (like, within the past 3 months) opened a credit union for its members. Goodhair schmoozed his way onto the board of directors, probably claiming that they needed someone with a background in the financial industry.

Today, he copied me on an email with a document attached that was filled out like a corporate resolution. But it wasn't a corporate resolution. He said we should have someone else sign off on the account, since he was on the board of directors. So I replied to he email saying that the attachment wasn't a corporate resolution and if he wants me to open a deposit account, I'll need more information.

He spent a good bit of time in my boss' office after that (which isn't unusual), and the next time my boss was at my desk, she relayed to me that he'd said my email was "fresh" and that if it was his decision I'd "be out the door." Over a slightly snarky email. Well, now he has something else in common with the previous bank president, who threatened to fire me because a customer said I was rude. At least this time I didn't break down in tears.

In addition, he complained that I was on the internet too much. He must have meant during my coffee breaks, which I normally take at my desk so I can continue to answer the phone while I have my morning and afternoon snacks. So I've decided to start taking my coffee breaks in the lunch room (in the basement, where there's a computer for employee use). Then I can get on CS to write these posts without having to worry about getting in trouble over it. Oh, but he just lost half an hour of productivity from me every day. Oh, darn.

[ADeMartino]

Uh-UH, darlin. He's trying to bully you now - and worse, he's trying to drag you into that industrial-strength shitfest he's cooking up. Start makin' that list of his sins (and checkin' it twice!) and figuring out who to send it to. Make sure you document EVERYTHING and CC to everyone that might even remotely be between him and the big boss. And I'd be making a call to HR as well. The words HOSTILE WORK ENVIRONMENT is sure to get some attention.

[eltf177]

ADeMartino has it right, this is starting to get _very_ ugly. Document _everything_ and make sure your coworkers do as well. Maybe he can be fired for harassment if not the outright fraud he's been committing.

If Goodhair finally goes down I see him trying to take _everybody_ with him.