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??
funnylookin Dyn-o-mite!
Joined: 31 Jul 2008
Posts: 249
Location: On top of the world
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.
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
mahalo guy Wrecking crew
Joined: 28 Jun 2008
Posts: 1909
Location: Honolulu
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
dmndmaker Dud?
Joined: 20 Aug 2007
Posts: 22
Location: Seattle WA
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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