Banks ignored warning signs, hired 'Burger King kids'
(NEWSER) - As the foreclosure crisis continues, the stories of clueless employees just get worse. Swamped with delinquent customers, banks hired inexperienced walk-ins one former executive called “Burger King kids,” who, for years, processed mortgages at an astonishing rate. Overwhelmed employees not only signed papers without reading them—they sometimes tossed paperwork into the trash. Some banks even outsourced foreclosure operations. That’s why, employees, executives, and regulators tell the New York Times , this crisis—shocking as it may be to the general public—was no surprise to insiders. More»
