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Strat500
Dud?


Joined: 26 Aug 2008
Posts: 1

ACE MORTGAGE FUNDING
PostPosted: Tue Aug 26, 2008 9:11 pm Reply with quoteBack to top

What is going on with these guys? Are they still kicking? I used to call on these guys as a wholesale rep -- Managers were slave drivers in there. A lot of great LOs pushed to the brink - long hours, worked weekends, only a few LOs making great bucks.

How is a shop like this going to survive in this market - especially with all the wholesalers going bye bye??
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funnylookin
Dyn-o-mite!


Joined: 31 Jul 2008
Posts: 249
Location: On top of the world

Re: ACE MORTGAGE FUNDING
PostPosted: Tue Aug 26, 2008 9:14 pm Reply with quoteBack to top

Wow - where did that come from?

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Anything is true if you say it enough
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thebfgb
Schumpeter Reincarnate


Joined: 21 Jan 2008
Posts: 3256

Re: ACE MORTGAGE FUNDING
PostPosted: Tue Aug 26, 2008 9:28 pm Reply with quoteBack to top

Yes they are still in business. Thats all I know.
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dks
Nitroglycerin


Joined: 11 Jan 2008
Posts: 556

Re: ACE MORTGAGE FUNDING
PostPosted: Tue Aug 26, 2008 9:32 pm Reply with quoteBack to top

Strat500 wrote:
What is going on with these guys? Are they still kicking? I used to call on these guys as a wholesale rep -- Managers were slave drivers in there. A lot of great LOs pushed to the brink - long hours, worked weekends, only a few LOs making great bucks.

How is a shop like this going to survive in this market - especially with all the wholesalers going bye bye??


Why would they not survive? If they know how to market and can sell the products that still exist - then they should stay in business. No, I am not associated with them. I do take issue with the suggestion that they somehow would be in toruble because they USED to be successful. They may still be successful as a result of pushing their staff to succeed and work hard.
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MortgageMan85
Wrecking crew


Joined: 10 Dec 2007
Posts: 1665
Location: Dallas

Re: ACE MORTGAGE FUNDING
PostPosted: Tue Aug 26, 2008 9:36 pm Reply with quoteBack to top

Now come on DK, they all are going to fail, especially if Chase gets out.

We're doomed, the pain, the pain!

WHo is ACE? Never heard of them.

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The difference between a successful person and others is not a lack of strength, not a lack of knowledge, but rather a lack of will.

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thebfgb
Schumpeter Reincarnate


Joined: 21 Jan 2008
Posts: 3256

Re: ACE MORTGAGE FUNDING
PostPosted: Tue Aug 26, 2008 9:38 pm Reply with quoteBack to top

MortgageMan85 wrote:


WHo is ACE?


Your typical sweat shop.
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funnylookin
Dyn-o-mite!


Joined: 31 Jul 2008
Posts: 249
Location: On top of the world

Re: ACE MORTGAGE FUNDING
PostPosted: Tue Aug 26, 2008 9:45 pm Reply with quoteBack to top

MortgageMan85 wrote:

WHo is ACE? Never heard of them.


Imagine Glen Gary Glen Ross.... but mortgages.... and for real.

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NonproducerAE
Flash in the pan


Joined: 20 Mar 2008
Posts: 46

Re: ACE MORTGAGE FUNDING
PostPosted: Tue Aug 26, 2008 11:07 pm Reply with quoteBack to top

I interviewed with them for a loan officer position. I had to fill out a form containing 33 questions that took about 45 minutes. One of the questions was "is there anything preventing you from working from 7:00 am to 7:00 pm or 8:00 am to 8:00 pm"? After I got done interviewing with some arrogant jerk of a manager I did a Google search and discovered there were a bunch of pending class action lawsuits by previous employees regarding non payment of overtime and working conditions.












g
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mahalo guy
Demolition Man


Joined: 28 Jun 2008
Posts: 2082
Location: Honolulu

Re: ACE MORTGAGE FUNDING
PostPosted: Tue Aug 26, 2008 11:38 pm Reply with quoteBack to top

lol

how CAN these guy's still be open


NonproducerAE wrote:
I interviewed with them for a loan officer position. I had to fill out a form containing 33 questions that took about 45 minutes. One of the questions was "is there anything preventing you from working from 7:00 am to 7:00 pm or 8:00 am to 8:00 pm"? After I got done interviewing with some arrogant jerk of a manager I did a Google search and discovered there were a bunch of pending class action lawsuits by previous employees regarding non payment of overtime and working conditions.












g
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dmndmaker
Dud?


Joined: 20 Aug 2007
Posts: 22
Location: Seattle WA

Ace Mortgage Funding - Titanium Award second year running
PostPosted: Wed Aug 27, 2008 12:13 am Reply with quoteBack to top

Just happened to notice this on a newletter I get.. not associated or anything, I've had no dealings with Ace.. FYI only.. not even going to hazard an opinion of any kind...insert continued disclaimers and caveats here..and here.. and here!




Ace Mortgage Funding Receives Fannie Mae’s Titanium Award
Monday, August 25, 2008 - Ace Mortgage Funding


INDIANAPOLIS, IN - Ace Mortgage Funding, LLC, the Indianapolis-based mortgage broker/banker with approximately 500 loan officers nationwide, has been recognized by Fannie Mae as the preeminent user of its Desktop Originator (DO) technology among all companies doing business with the government sponsored enterprise.

Desktop Originator is Fannie Mae’s loan origination and process workflow engine, designed, as the agency puts it, “to help brokers and correspondents generate more loans, gain a competitive edge in the marketplace, boost profitability, and enhance customer service and satisfaction.” This is the second straight year Ace Mortgage Funding has achieved the distinction of being DO’s top user, recognized with Fannie Mae’s “Titanium Award.”

“We are continuing to grow in this market, and the right technology and customer service play a key role in that,” says Greg Willis, senior vice president of Ace Mortgage Funding. “As a key component in our technology suite, Desktop Originator plays an essential role in the success we’re experiencing.”

In a lending environment that has seen many restrict product offerings and others exit the business altogether, Ace Mortgage Funding has continued to offer a full range of lending alternatives to customers. In addition to traditional agency conforming products, Ace is able to bring a variety of alternative loan types to their markets, including reverse mortgages and selected nonprime products.

“Our loan officers are able to have fewer false starts and close more loans thanks to the technology we employ,” Willis adds. “In fact, we originate loans almost paperlessly, and view that as a competitive advantage. While others are chasing paper and standing around at copiers, we’re getting approvals and completing our files electronically. It’s good for us, good for our borrowers and great for the environment.” It is also fully consistent with the preferred approach of investors like Fannie Mae, who have been moving away from dealing with paper for years. Workflow systems like Desktop Originator make it far easier to go paperless, which reduces costs and increases efficiency in the mortgage origination workplace.
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