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banker0679
Flash in the pan
Joined: 07 Dec 2007
Posts: 69
Location: North Carolina
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sucks oh well.....life goes on. |
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Sr. Mortgage Consultant
NC Mortgage Rates |
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thebfgb
Schumpeter Reincarnate
Joined: 21 Jan 2008
Posts: 3256
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is this a retail correspondent shop or a pass through wholesaler? |
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lenderbob
Dyn-o-mite!
Joined: 29 Aug 2007
Posts: 417
Location: Georgia
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They are a broker HQd out of Centreville, VA. Some good loan officers but a lot of bad ones. A ton of fraud.
Lenderbob |
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Banking establishments are more dangerous than standing armies.
Thomas Jefferson |
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TheBoardofDirectors
Flash in the pan
Joined: 25 Jul 2007
Posts: 75
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cobalt360
Nitroglycerin
Joined: 06 Aug 2007
Posts: 691
Location: East Coast
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very very large operation with seemingly very low cost structure. I have to admit that one surprises me.
I agree with the other posters about fraud though - rampant fraud. No controls on the lo's.
In fairness there were a few good ones - but many many more bad ones. |
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Philippians 4:6 Do not be anxious about anything, but in everything by prayer and supplication with thanksgiving let your requests be made known to God. |
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funnylookin
Dyn-o-mite!
Joined: 31 Jul 2008
Posts: 249
Location: On top of the world
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| thebfgb wrote: |
| is this a retail correspondent shop or a pass through wholesaler? |
They are best known for their net branching. |
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Anything is true if you say it enough |
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efreet
Dyn-o-mite!
Joined: 22 Mar 2008
Posts: 271
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any proof of them closing? Is it all their offices or just some? |
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thebfgb
Schumpeter Reincarnate
Joined: 21 Jan 2008
Posts: 3256
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| funnylookin wrote: |
| thebfgb wrote: |
| is this a retail correspondent shop or a pass through wholesaler? |
They are best known for their net branching. |
ah |
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opsguy19
Nitroglycerin
Joined: 20 Dec 2007
Posts: 701
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A bunch of years ago, they were staffed with mostly experience LO's. Then they lowered the standards and let everyone who could fog a mirror in the door. They went from being great to work with to being a complete disaster. It was a shame. |
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lenderbob
Dyn-o-mite!
Joined: 29 Aug 2007
Posts: 417
Location: Georgia
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| funnylookin wrote: |
| thebfgb wrote: |
| is this a retail correspondent shop or a pass through wholesaler? |
They are best known for their net branching. |
I'd have to disagree with this. They were more of a "work from home" model. They took 30% off the top plus a $300 processing fee to the company which made it cost prohibitive to have a branch.
There business model was geared toward a 1 room office suite address and 35 LOs working from their houses.
Some good people but a ton of bad ones.
Lenderbob |
_________________
Banking establishments are more dangerous than standing armies.
Thomas Jefferson |
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