Discussion on Fortes Financial - Wholesale

Schumpeter Reincarnate Joined: 24 May 2008 Posts: 46246

http://ml-implode.com/imploded.....11-24.html

Posted: Mon Nov 24, 2008 9:15 pm

Pretty crappy when a company fails to give you a little notice so you can wind down your deals.

Dud? Joined: 25 Nov 2008 Posts: 1

It also pretty crappy when you are an account executive for the company and they put you on a conference call with the whole company at 10:00 pacific and tell you today is your last day we are closed and not funding any loans even those in recission or that have funding numbers awaiting the wire. No notice was given to any one and the only active warehouse line was Wachovia. So that goes to show if your primary investor pulls out you are done. .. Surprised

Posted: Tue Nov 25, 2008 8:08 pm

South of SA wrote:

It also pretty crappy when you are an account executive for the company and they put you on a conference call with the whole company at 10:00 pacific and tell you today is your last day we are closed and not funding any loans even those in recission or that have funding numbers awaiting the wire. No notice was given to any one and the only active warehouse line was Wachovia. So that goes to show if your primary investor pulls out you are done. .. Surprised

This is not the first time Bobba has seen this happen and it won't be the last, that's for sure.

Dud? Joined: 09 Dec 2008 Posts: 1 Location: Honolulu, HI

I funded a few loans with them before. But even at the bitter end they couldn't straigten their act enough to have DO for brokers.

Dud? Joined: 05 Jan 2009 Posts: 1

Giving little or no notice is a reflection on management, how poorly they perform. A company knows when they are in trouble long before they are forced to close, some CEOs / management just close their eyes and wish for a miracle at the expense of their employees or have egos that don't care much about others. We know there are companies who actually care about their clients and employees, unfortunately Fortes Financial does not appear to be one of them. I looked up the CEO of Fortes Financial and his name is Peter Lavasseur, the difference between a failed CEO like Pete Lavassuer and a regular employee losing their job is that Pete was directly involved in the bad decisions that resulted in Fortes Financial's failure. Managers like Pete are at fault for thousands of employees losing their jobs and the impact this has on families. Pete, hope you always treated your employees with respect...slim chance. From the posts already stated sounds like Pete Levassuer is in the loser category for the cowardly manner in which he chose to close the doors of Fortes Financial, treated his clients and employees...shame on you Pete Levassuer. Good luck finding a job Pete and you should just hope that whatever new employer you snow doesn't treat you like you treated past clients and employees. Hope Pete Levassuer accepts the responsibility that the failure of yet another mortgage company falls squarely on the shoulders of yet another failed CEO, yes Pete, thats you. Lesson learned Pete Levassuer...maybe? Only his ego knows for sure.