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Schumpeter Reincarnate


Joined: 24 May 2008
Posts: 218441

Re: Discussion on Amtrust Bank
PostPosted: Fri Dec 26, 2008 7:58 pm Reply with quoteBack to top

http://ml-implode.com/imploded.....12-07.html
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freddie
Dud?


Joined: 26 Dec 2008
Posts: 1
Location: California

AMTRUST
PostPosted: Fri Dec 26, 2008 10:52 pm Reply with quoteBack to top

The information about locks is not right. They are clearing out any old Agency Jumbo, but regular conforming is still fine. New locks are not a problem. If fact, they may extend locks just to get refi's closed into January.

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aSurvivor
Dud?


Joined: 26 Dec 2008
Posts: 1

Inaccurate Reporting
PostPosted: Fri Dec 26, 2008 11:15 pm Reply with quoteBack to top

This is totally inaccurate, there was not such a meeting. Anyone who works for them or with them knows that AmTrust has not suspended locks they have been locking and closing loans like crazy. Where does this non-sense come from?
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Shelly Logemann
Dud?


Joined: 28 Dec 2008
Posts: 1
Location: california

Amtrust still taking and honoring locks!
PostPosted: Sun Dec 28, 2008 6:53 pm Reply with quoteBack to top

We have been doing business with Amtrust over 10 years.....the 1st broker in California, and they are still alive and well and accepting locks. They just offered free extensions on locks that were delayed due to the holidays to ensure that they are delivered in January.

This talk af them not accepting locks this past week was not true. We locked plenty of loans. I'm not sure who or why that rumor would get started.

They are the best overall lender out ...consistent and fair. A great partner.....treat them right and they treat you better!

If you are lucky enough to be approved with them.....do what you can to keep that partnership alive.....pull through of good loans.

Have a Happy New Year!!

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mortgage_crap
Flash in the pan


Joined: 30 Dec 2008
Posts: 35

Re: Inaccurate Reporting
PostPosted: Wed Dec 31, 2008 3:36 pm Reply with quoteBack to top

aSurvivor wrote:
This is totally inaccurate, there was not such a meeting. Anyone who works for them or with them knows that AmTrust has not suspended locks they have been locking and closing loans like crazy. Where does this non-sense come from?


Maybe the nonsense is coming from the fact that the FDIC is crawling all over them right now, there is probably a run on the bank as we speak (bank customers are pulling money out of their bank). I really dont know about the locking issues, if any, but what I do know is that they are done! i give them max a few months.
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cbc1103
Dud?


Joined: 26 Nov 2008
Posts: 6
Location: Las Vegas, NV

Just isnt true. Another example of poor irresponsible ......
PostPosted: Wed Dec 31, 2008 7:16 pm Reply with quoteBack to top

...reporting by Ml Implode. I am an AE for Amtrust, there was no lock suspension of any kind. Amtrust has continued to lock and fund loans. The OTS orders are being met. Amtrust will probably have a record January. There was no conference call. So all that is BS. I think ML Implode is sop anxious to get the scoop that they end up mis-reporting and send a bunch of in-accuracies out to the general public. Its no wonder they get sued so often.
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cbc1103
Dud?


Joined: 26 Nov 2008
Posts: 6
Location: Las Vegas, NV

Mortgage c**p....
PostPosted: Wed Dec 31, 2008 7:21 pm Reply with quoteBack to top

You seem a little disgruntled. The FDIC monitors all banks. the OTS regulates Amtrust. there has not been a run on the bank. What a poor soul you must be to hate things so bad that you put out bad information. were you fired from Amtrust?
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cbc1103
Dud?


Joined: 26 Nov 2008
Posts: 6
Location: Las Vegas, NV

Re: Discussion on Amtrust Bank
PostPosted: Thu Jan 01, 2009 12:49 am Reply with quoteBack to top

An AP brief from 2008-12-16 offers this promise:

"U.S. Treasury Secretary Henry Paulson said Tuesday that he does not expect any more major financial institutions to fail during the current credit crisis."
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MakingIt
Nitroglycerin


Joined: 04 Dec 2007
Posts: 629

Re: Discussion on Amtrust Bank
PostPosted: Thu Jan 01, 2009 9:49 pm Reply with quoteBack to top

cbc1103 wrote:
An AP brief from 2008-12-16 offers this promise:

"U.S. Treasury Secretary Henry Paulson said Tuesday that he does not expect any more major financial institutions to fail during the current credit crisis."


That doesn't stop them from being bought for pennies on the dollar or shutting down their Wholesale division if it's losing money.

Mr. Kool Aid from Columbus , which division in Amtrust is losing money and which making money ?

Bottom line , at some point they will have to be responsilble to their shareholders.
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MortgageMan101
Dud?


Joined: 05 Jan 2009
Posts: 1
Location: Washington DC

Re: Discussion on Amtrust Bank
PostPosted: Mon Jan 05, 2009 5:31 pm Reply with quoteBack to top

Shocked

I worked for the bank for years. I have not been there in the past couple of years but the Goldbergs, especially Peter (well only Peter) is the direct cause for the problems. The economy , yes, had a part in it but Peter Goldbergs "golden dream" pushed them over the edge. They treated their workers poorly and deserve the trouble.

Yup !
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