SOLSTICE HSBC ?

Dud? Joined: 09 Sep 2008 Posts: 21 Location: Irvine,Cal

Anybody know anything about Solstice Capitol, a part of HSBC?? How r they doing in retail?

Flash in the pan Joined: 27 Dec 2007 Posts: 59

We had to release a case number to Solstice Beneficial...maybe it's another arm of HSBC.

We had a mail campaign that went out to Beneficial and HFC clients for Refi's and out of the 200 responses we were only able to get 14 loans closed.

Most of the clients had Ltv's too high to get them out or they were just upside down.

More then half of them also had equity lines that were not attached.

I guess this department is part of their retention efforts. There are a few articles on the net about Solstice.

Cherry Bomb Joined: 04 Jul 2008 Posts: 148

It appears to be a call center along the lines of HFC/Beneficial.

Looks like you're doing the same deals but the calls are in-coming vs calling out all day and night at the Bene/HFC office.

Also, appears to be only one location in Irvine vs their nationwide branch network.

My advice is to pass. This is a training ground. If you've been in the business a while and are not making it. Time to move on. 0 job satisfaction. Anyone who can make the big bucks there will make bigger bucks elsewhere with a better quality of life.

Been there. Done that. Bene was a good company to work for but there's a better world out there that doesnt require the usery practices.

Cherry Bomb Joined: 04 Jul 2008 Posts: 148

I just had a thought on this.

Assuming I'm correct in my thinking above, imagine this....

You've been working your butt off for HFC until 8:00 at night and Saturdays. What you can do right now, who knows.... Anyhow, the company determines they can generate incoming calls. However, rather than reward those chained to their desks at the branch offices cold calling during dinner-time, they open a call center in California and give the incoming calls to a new-hire with a catcher's mitt.

Good looking out Bene/HFC/HSBC!

Posted: Thu Dec 11, 2008 7:55 pm

Imploded #310: http://ml-implode.com/imploded.....12-11.html

Flash in the pan Joined: 27 Dec 2007 Posts: 59

I'm not really sorry about them imploding. They acted more as a retention avenue than a benefit to the borrower.

I do however feel sorry for the families who may be affected by the layoffs.

They would only call the borrowers to offer a better rate after I requested the payoff. Basically nothing more than an internal trigger lead of sorts!

Beneficial gouges a client with a 660 scores eyes out for 14% on a 40 year term and Solstice calls the client only after the payoff is ordered and offers them an .125% lower rate! Lol

Come on man!

Dud? Joined: 27 Jan 2008 Posts: 10

Anyone who worked at Solstice knows the ridiculous hours we worked. Many times 12-14 hour days with no breaks (6AM to 8PM). Mon - Saturday for alot of people. in fact funders worked over 24 hours straight... f'ing rock stars...
We worked more hours than the branches were even open, and we called out our leads instead of inbound calls for well over the last year.

Sorry just made me laugh...
Working 9-5 and calling out would have been a good gig.