Better To Bail Out Than Go Down With The Ship

In 2006, I started working for a large nationwide mortgage company. When I went to the interview, they gave the impression that it was an easygoing, fun place to work. That day happened to be “nerd” day. Many of the employees were dressed like stereotypical nerds. I had just come from a company with a similar atmosphere, so I thought this was the place for me.

We had eight weeks of training. My job was to help people who already had loans with the company by answering questions or sometimes taking loan payments over the phone. What I didn’t know was that we were also expected to get them to agree to a transfer to a sales agent so they could talk them into refinancing, getting a home equity loan, or even better, getting a whole new loan. We got a bonus if the person we transferred agreed to one of these.

After a few months, I realized that, despite their claims of high ethical standards, there was something sleazy going on. I was making more money than I ever had before, we had a party and/or theme day at least once a month, and we had every holiday off with pay. But still, something wasn’t right.

After nine months, I found another job at less pay but closer to home, and it had no sleazy feeling, so I quit. Within a few months, the mortgage company was in big trouble for their loan practices, the CEO went to prison, and the company was dissolved.

I was never happier that I had left a job with great pay. If you are wondering, the company was Countrywide Home Loans, a primary contributor to the housing price collapse in 2007.