Importance of Ethics in the Workplace Essay

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Importance of Ethics in the Workplace

Enron, Tyco, Krispy Kreme, and even Martha Stewart have had their share of ethical dilemmas and troubles. With the seemingly downward spiral of ethics in the United States, many people have begun to re-evaluate the definition and limitations of ethics, especially within the workplace. Stories of ethical problems and ethics surround people in everyday situations. Here, we will examine two case studies one of which is a story of wrongful conduct and the other is a story of serving best interest. In today's society, everyone is entitled to a rags-to-riches story and wealth beyond their wildest dreams, but is it worth the cost of overlooking and ignoring the importance of ethics?

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Once she began working on her own, she realized this unethical behavior had been present since her first day of training. Monica, being a loan processor, was responsible for the specific loan from application to closing. The loan officer was responsible for taking the application and pulling a credit report. From there, the processor would make sure that the loan was closed in a timely manner “by doing whatever it took”.

On numerous occasions, there were mortgagors that could not qualify for mortgage loans on their own. Monica’s direct supervisor would alter various file information to make it look as though the mortgagor was a perfect candidate for a specific loan program. The information that was altered included: income documents such as W-2’s, pay stubs, verification of employment, verification of deposit and source of funds, death certificates, etc. Monica’s manager would do anything to earn the commission from a loan by altering any bit of information needed to complete the transaction. On one occasion, Monica’s manager handed her a White-Out correction tape and a payment history and instructed her to “fix it the BEST way that you know how”. Monica then stacked the file together and submitted it to the Lender with a payment history reflecting the correct information; twice 30 days late and once 90 days late. This information would have been enough to disqualify the mortgagor or qualify them for a high risk, high interest rate loan.
Two days after submission,

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