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 Prospect Mortgage. Will they survive 2010? View next topic
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Gepb
Dud?


Joined: 31 Dec 2011
Posts: 5

Re: Prospect Mortgage. Will they survive 2010?
PostPosted: Sat Dec 31, 2011 1:38 am Reply with quoteBack to top

I'm reading all of this and wonder where all u people get this nonsense about prospect and sterling. Unless u work here you have no idea what actually goes on. Yes we did just this year start retaining our FHA New Opportunities. If you didn't make it here it's usually because you are a substandard LO. We set our bar very high
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OregonLO
Dud?


Joined: 03 Jan 2012
Posts: 2

Re: Prospect Mortgage. Will they survive 2010?
PostPosted: Tue Jan 03, 2012 3:14 am Reply with quoteBack to top

Depends on what you consider "high". As an former top 75 LO for Prospect can say from personal experience that Prospect does NOT have what it tales to survive. With the exception of whatever are left of their top 25 LOs what's left are hand me downs from places like IndyMac, AHM, and other "top shelf" lenders.
Exec Management didnt have a clue and lost or fired the best of their West Coast sales management team last year. Ops is/was a joke, after 5 plus years of incompetence, a comp plan that was a slap in the face it was time to go.
Don't need the "excuse" list anymore. That's a vacation in itself.
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Gepb
Dud?


Joined: 31 Dec 2011
Posts: 5

Re: Prospect Mortgage. Will they survive 2010?
PostPosted: Thu Jan 05, 2012 4:08 am Reply with quoteBack to top

When you are in the top 5 come back and talk. The best of AHM and Indymac are at Prospect currently. The comp plan is based on the LO's prior revenue performance. How could that be unfair? Unless somebody thinks they price way better then they actually do. But, I do wish you well
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MakingIt
Nitroglycerin


Joined: 04 Dec 2007
Posts: 629

Re: Prospect Mortgage. Will they survive 2010?
PostPosted: Thu Jan 05, 2012 5:07 am Reply with quoteBack to top

Gepb wrote:
The best of AHM and Indymac are at Prospect currently.


Laughable.

Translation - the best former 6 pointer Pick a Pay people from AHM and Indymac are here.
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ChicagoMTG
Dud?


Joined: 17 Dec 2011
Posts: 15
Location: Chicago, Il

Prospect
PostPosted: Thu Jan 05, 2012 5:31 am Reply with quoteBack to top

Geez. What mtg company's do the prospect naysayers work for?


Last edited by ChicagoMTG on Thu Apr 05, 2012 1:38 am; edited 1 time in total
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Talent Seeker
Dud?


Joined: 09 Aug 2011
Posts: 17
Location: Houston, Tx

Re: Prospect Mortgage. Will they survive 2010?
PostPosted: Thu Jan 05, 2012 5:03 pm Reply with quoteBack to top

Evidently we've established that they made it through 2010 and 2011. Moving on?

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mr mortgage
Dud?


Joined: 16 Jul 2009
Posts: 2

Re: Prospect
PostPosted: Wed Jan 11, 2012 4:51 pm Reply with quoteBack to top

I'm not typically someone that bashes other mortgage companies. Obviously it's been a tough couple of years for all of us and I'm hopeful this is a great year for those of us legitimate professionals. But, Prospect Mortgage are a bunch of superstars - especially senior and top management and ceo. I'm wondering the poor CEO who flies to work from Ranch Santa Fe to Sherman Oaks everyday will be able to take this place public. Doesn't look good.

Be it the sham JV's with real estate companies or the recent HUD infractions or them forcing your borrower to cross qualify with them so they can quicly get the FHA case #.

Can you even explain your comp plan? People bash this company because it's a very shady operation.



ChicagoMTG wrote:
Geez. What mtg company's do the prospect naysayers work for? Again, I'm a loan officer but I find it interesting that the original subject of this post, started in 2009, debates whether Prospect will survive 2010. It's 2012 and Prospect is still here.

It looks to me that Prospect represents a threat to you in one way shape or form. Otherwise, why spend the time bashing another banker? One post hit it on the head. The industry needs bankers and brokers to stay in business and competition is good, remember?

I can sit here and bash other bankers, but there is no value in doing so. When you are competing for business do you bash your competition? Ok. With the exception of BofA of course! Kidding. I dont even bash them although they are easy targets.
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Gepb
Dud?


Joined: 31 Dec 2011
Posts: 5

Re: Prospect Mortgage. Will they survive 2010?
PostPosted: Thu Jan 12, 2012 4:37 am Reply with quoteBack to top

Mr mortgage

You hide behind a name that you signed on on January. You're a pissed off person who does no loans and have an ax to grind because of your own failures. If you want to be a man and not a fat BFF then step up and say who you are. I work at prospect and I will be happy to share your numbers on this site

So stop with all of your toxic lies. You should have already gotten tarp funding and if you didn't go find somebody who actually cares

I apologize to everyone who ever reads this because I would never waste my time addressing lies and rumors however I was compelled with this ridiculously outrageous insult to the truth to a website that has no validity to it.

To Implodometer monitor people that have an ax to grind, care about the people who actually read this for content. If you don't validate what's being written what is the point

By the way was Metlife on implode meter?


Caring prospect employee.....
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ChicagoMTG
Dud?


Joined: 17 Dec 2011
Posts: 15
Location: Chicago, Il

Prospect
PostPosted: Thu Jan 12, 2012 4:57 am Reply with quoteBack to top

Yes.


Last edited by ChicagoMTG on Thu Apr 05, 2012 1:39 am; edited 1 time in total
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Aaron
A-Bomb


Joined: 24 Jan 2007
Posts: 824
Location: Atlanta, GA

Re: Prospect Mortgage. Will they survive 2010?
PostPosted: Thu Jan 12, 2012 7:26 pm Reply with quoteBack to top

Gepb wrote:

By the way was Metlife on implode meter?


I sent out a premium announcement about Metlife (and have been doing so for months as their situation evolved/deteriorated).

Thanks to being frivolously sued by industry sociopaths, I am the only "staff" left (not to mention, I can't really risk public reports), so I no longer maintain the public tally of implodes. Anyone who wants implosion and other industry reports given whatever intelligence we do receive should subscribe to the premium service to support my work.
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