Ethics is used to refer to the measure of how right or wrong an act is, basing on the available standards and guidelines. It focuses on human acts that affect their behavior, potential and reputation. Consciousness that an act is right or wrong stems from an aspect of morality, where the person in question is aware of and appreciates the moral norms and standards set in place. It poses concerns on how people should live, act and correlate without going against other people’s interests. There is a decision that must be made at a point that will impact either positively or negatively on the ethical issue at hand. An ethical choice, therefore, needs to be made.
Falsifying of home loans has been a major challenge facing many companies in the recent past. People have been caught in the event of committing this crime before they manage to get away with it. On the other hand, others have managed to get away with this vice, causing banks much harm after the people given loans they didn’t qualify for are unable to repay them. Managers have for long been borrowing from other policies when addressing such an issue, because it lacks its own policy made specifically for it.
The organization seeks to protect the company, customers, staff and the key stakeholders from any kind of lie that they may be lured into. This serves to keep the company’s reputation, enhance reliability from the customers and avoid risks that may be associated with the crime committed. Ethical issues are, therefore, regarded highly and given lots of attention.
The main reason behind writing and generation of this policy is to create awareness of the existence of such vices in the market economy. It also gives a set guideline, that is internationally acceptable and which conforms to the standards requirements, which can be used to solve such problems once encountered. The policy also seeks to help the organization towards gaining customer confidence and effectively solving such challenges.
This policy applies to all company staff and affiliates. These include the employees, contractors, people on tender, key stakeholders, partners and any potential people legible to getting home loans, and most importantly to those seeking to falsify their way into getting these loans.
Falsifying a home loan application
Customers have the responsibility to report their right income before making an application for a loan to see if they qualify for the loan
All customers regardless of other factors should only benefit from the amount of loan that they can afford.
It is your duty as an applicant to tell the truth on your loan application. Mostly with factors known to affect the amount one is given.
When deciding on who should be loaned, the concerned staff must judge all customers equally and they should be allowed to
Customers are vested with the decision to accept the risk of their loan on the value of income in question.
After submitting the form for consideration, the customer should be aware that research has to be initiated to verify if the information given is true
No kind of discrimination is it ethnic, racial, gender, age or religious will be tolerated by the organization. All customers, if they meet the requirements should be treated equally and served accordingly.
Once the loan company checks a customer’s credit report, the next step is to pre-approve the forms, which are forwarded for further scrutiny and approval.
All lenders are required to operate under certain rules, regulations and procedures when taking loan applications. This serves to protect the customers’ interests from those of the lenders who may be out to gain selfishly.
No part of this policy should be compromised and granted free, no matter the circumstances. The policy should be followed to the latter during service delivery.
Any stakeholder found to be violating this policy will be subjected to legal action, and thereafter a disciplinary action that may include dismissal from duty or services.
Birkland, T. A. (2005). An introduction to the policy process: theories, concepts, and models of public policy making (2nd ed.). Armonk, N.Y.: M.E. Sharpe.
Hagan, F. E. (2003). Research methods in criminal justice and criminology (6th ed.). Boston, MA: Allyn and Bacon.
Smith, C. F. (2010). Writing public policy: a practical guide to communicating in the policy making process (2nd ed.). Oxford: Oxford University Press.