Thursday, November 21, 2013

Organizational Ethics

Organizational Ethics Issue All organizations run into close issues, I mean lets face it in todays society the almighty dollar rules all. Therefore it forces great rush to implement very unethical business practices in smart set to def remainder that money. At my old attach to which we will grouse alphabet Capital was a mortgage companionship that would do whatever it took to turn that money, no matter what the cost. This companys ending was to grow to be as big as the countrywides and Wachovias moreover because of its unethical practices it was otiose to lie and eventually went under. When I was at the company it had headspring everywhere seventy employees only when when I left the company the add up were slowly dwindling and eventually the owners and managers were operative just as the employees were. Trying to close deals and keep the company a float, except unfortunately it was to late because of its practices word disseminate and individuals no eternal pauperismed to conduct business with such(prenominal) a company. The principal(prenominal) issue that was at hand was the improper transport of loans to individuals who did non fully understand them. These loans were very unethical, they are called negative amortization loans and at first glance they seem amazing but when you read the fine print you realize that they are non what they seem.
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The way these loans work is simple they gave you four payment options which were a minimum payment, an enkindle only payment and a primordial or fifteen year fixed payment. So for tidy sum with varying in come outs th is seemed to be very helpful, but what their! loan officers expend to tell them was very key and that was when you chose the minimum payment the bare(a) interest you did not pay would add to the back end of the loan. So as they would make their payments the balance would increase and neer come down only go up. Also these loan officers when they would sell these loans would sell them as if the minimum payment was their payment so therefore individuals were under the assumption that they only had to make very...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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