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hmetcalf
320 Posts |
 Posted - 02/04/2008 : 7:44:56 PM
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| I am contemplating a change in branch companies. I spoke to VanDyk today and it sounded pretty good. But I was wondering if anyone had any feedback on them. Good or bad. |
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hmetcalf
320 Posts |
Posted - 02/04/2008 : 7:56:58 PM
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bump
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liverichly
3936 Posts |
Posted - 02/04/2008 : 8:49:44 PM
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| VanDyk is alright. A buddy of mine has his shop set up with them. They are pretty strict on compliance & licensing, which is important aspect in lasting. They let you broker out as well as have in house lending. |
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1003s.com
3371 Posts |
Posted - 02/04/2008 : 11:03:36 PM
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Harry,
see Broker Outpost thread title:
Help me change my life, your advice is valuable.
forum member: ehm3, contributed to that thread,
and he said they are based out of his home town,
he sounded very unbiased, so he could prove to be
a good source of information for you. |
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hmetcalf
320 Posts |
Posted - 02/05/2008 : 08:01:22 AM
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| Thank 1003s. |
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1003s.com
3371 Posts |
Posted - 02/05/2008 : 09:41:41 AM
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| Your welcome Harry... |
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apostle007
319 Posts |
Posted - 02/05/2008 : 09:50:35 AM
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They are nothing but crooks and thieves. ripped my company off for 63,000.00 in november of 07' stay far, far away from these f***s !!!!
much more honerable companies out there ,check with 1003, he has a ton of them.. |
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geo21208
3278 Posts |
Posted - 02/05/2008 : 3:13:18 PM
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quote:
Originally posted by apostle007
They are nothing but crooks and thieves. ripped my company off for 63,000.00 in november of 07' stay far, far away from these f***s !!!!
much more honerable companies out there ,check with 1003, he has a ton of them..
Something tells me there's more to this story than grand larceny......... |
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KeyLeads
119 Posts |
Posted - 02/05/2008 : 3:32:00 PM
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quote:
Originally posted by hmetcalf
I am contemplating a change in branch companies. I spoke to VanDyk today and it sounded pretty good. But I was wondering if anyone had any feedback on them. Good or bad.
We have several Van Dyk branches that use our products. I have never heard them say anything bad about corporate. Thats usually a good sign. I can put you in touch with a couple of them. They can probably give you insight into their experience. |
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KeyLeads
119 Posts |
Posted - 02/05/2008 : 3:33:29 PM
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quote:
Originally posted by KeyLeads
[quote]Originally posted by KeyLeads
[quote]Originally posted by hmetcalf
I am contemplating a change in branch companies. I spoke to VanDyk today and it sounded pretty good. But I was wondering if anyone had any feedback on them. Good or bad.
We have several Van Dyk branches that use our products. I have never heard them say anything bad about corporate. Thats usually a good sign. I can put you in touch with a couple of them. They can probably give you insight into their experience with Van Dyk.
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chill13
23 Posts |
Posted - 02/05/2008 : 3:40:22 PM
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quote:
Originally posted by apostle007
They are nothing but crooks and thieves. ripped my company off for 63,000.00 in november of 07' stay far, far away from these f***s !!!!
much more honerable companies out there ,check with 1003, he has a ton of them..
PLEASE NOTE:
In Response: Tom Minivich was never an employee, Branch or affilate of VanDyk Mortgage Corporation at any time. We never had nor can Mr. Minvich produce any agreements he had/has with VanDyk.
Mr. Minivich (who's is in Colorado) is upset about a Florida loan our Tampa Branch Manager closed where he apparently had also had taken an application. However Mr Minivich is not licensed in Florida yet is conducting business there. We won the deal in fair competition.
Our branch Manager in Tampa took the application and closed the loan. About 3 weeks after the closing, to our Managers surprise, Mr. Minivich claims he was owed commission? However he has nothing to substantiate same. We discussed this with our Tampa Branch Manager and he indicated there was no such agreements or arrangements. (under RESPA pomotions of activities such as these are illegal and must be stopped, its bad for our industry as a whole)
VanDyk Mortgage has over 200 branch offices, is licensed in 34 states, is a HUD DE/VA Lender, is an approved FannieMae seller/servicer and we employs over 1,000 employees. We have 5 full time QC personnel and wholeheartly support the state licnesing of LO's and Branch offices. We are here for the long run and do not short change anyone - that's not good business. However we cannot condone business practices that would violate both Federal and State laws, rule and regulations.
In short Mr Minivich is upset with losing a deal to the competition.
Please feel free to contact James Beebe, General Counsel, at VanDyk Mortgage Corporation @ jbeebe@vandykmortgage.com with your comments and concerns. |
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hmetcalf
320 Posts |
Posted - 02/05/2008 : 4:06:04 PM
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I am still in talks with VanDyk, but i would like to share something everyone.
I called Tom Minivich this morning and spoke to a lady there. Tom was not able to speak to me. I am completely unbiased on this but she was giggling and laughing the whole time.
After reading this post, and speaking with her, I called Corey up regarding a sceduled conference call I had with him. I will tell you that he addressed this issue before I spoke one word about it. I am still not sure of what my decision will be, but the fact that he addressed this matter (he saw it on her earlier) was a good feeling. Again, I am not affiliated with VanDyk in any way at this time, but I thought i would state a few facts that came about today. |
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TheFinancier
708 Posts |
Posted - 02/05/2008 : 5:48:45 PM
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I have heard several stories like this and they are very sad.
The story usually goes;
A.) An unlicensed person has a source for leads and a verbal agreement is made (allegedly).
B.) Broker agrees "VERBALLY" to pay "unlicensed Person" and
C.) after "Unlicensed person" sends leads or deals to broker, WOW Deal closes. Broker delays referal/Lead fee payment to unlicensed person and strings him out.
D.) "unlicensed person" stops sending Leads or Deals to broker and broker gets upset and claims he can't pay him, because he is not licensed and claims it's illegal (respa)(allegedly).
E.) Bottom line is a company representative Hoses the guy(alledigly).
Unfortunately people get $crewed like this all the time(alledigly). It's really sad that people are tak'n advantage of like this. GREED KILLS(alledigly).
I think the only way unlicensed individuals can get around getting hosed like this is to:
#1 get licensed.
#2 say that they are charging a "LEAD ACCESS FEE", and make an agreement out directly with the individual not with the company or broker on record.
My word is my word... If I agree to something verbally I'm going to stand by it, and i'm not going to take food off someones table just to put money in my own pocket.
SHAME ON YOU!!!
10yrs ago, before I got licensed, I almost did this, luckily the branch manager warned me and told me that a certain company that I wanted to send my deals to would not pay me. The main company eventually stopped paying him and he closed his branch.
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TheFinancier
708 Posts |
Posted - 02/05/2008 : 6:13:43 PM
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Nice quote from the MortgageMessiah.
"Men are so simple and so much inclined to obey immediate needs that a deceiver will never lack victims for his deceptions."
-Niccolo Machiavelli |
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apostle007
319 Posts |
Posted - 02/05/2008 : 6:50:46 PM
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Allright, enough is enough.
I will not be dissed like this!!!
first of all "Cory Hill" had absolutely nothing i repeat Nothing to do with this transaction. this is exactly what transpired in regards to this loan and we did not lose to the competion we were "f****d" by vandyke. (form your own opinion) see below:
WE were originally given this loan by one of our long time broker's
Ashley Rader (813-245-0754) a licensed broker in florida, (background on us :We've been in business 12 years here in Colorado, 17 years in total, we are hard money lenders ourselves, and represent several private money investors directly, for many years. As you all are aware, due to the subprime crisis, as you can imagine we have been swamped with loans over the last few months. We then decided to solicite an outside processing co. to assist us in processing of loans. (Western Processing-Jim Patton) Number available upon request. Jim Patton on our behalf, forwarded the loan to Sean McClellan at Van Dyke Mortgage(Seminole, Fla)for funding. Van Dyke Mortgage, who then sent the loan to Citi Mortgage, Citi Mortgage then approved the loan for funding. During the whole process, our processor, was in contact with the borrower and Van Dyke Mortgage. Assisting in obtaining all necessary documentation to fund the loan. Up until the day of closing. Including communication with the title/closing company. Several days prior to the closing, a fee agreement was forwarded to Sean (Van Dyke Mortgage). And was directed not to close this loan until the agreement was signed. (We request this for all of our brokers and private investors as well. Because we want to protect our brokers, and make sure that we and they are paid.) Come to find out, after the fact, (2 days after the loan closed, and funded.)Sean McClellan, refused to sign the agreement.
Also, Just so everyone is aware this issue has not been resolved yet. As of this date we are still receiving communication from the VP of Van Dyke Mortgage so this issue can be resolved properly.
Thank You for your time,
Elkton Mortgage
Tom Minovich
719-277-6696
elktonmortgage@q.com |
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apostle007
319 Posts |
Posted - 02/05/2008 : 7:05:28 PM
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Update , we recieved a call from the vp. of van dyke mortgage today, apx. 3pm mst, to resolve this issue. I am to receive a call tommorrow
from same, to discuss how to rectify this issue. I can back up everything presented here with documentation so Cory ...... Bring it it on!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! |
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apostle007
319 Posts |
Posted - 02/06/2008 : 09:07:27 AM
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bump
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hmetcalf
320 Posts |
Posted - 02/06/2008 : 11:32:58 AM
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Tom,
How is your scenario not co brokering? And why would you give the loan to someone without a written agreement. Just wondering. |
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apostle007
319 Posts |
Posted - 02/06/2008 : 12:06:25 PM
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as i stated above, we did send a fee agreement to van dyke mortgageto sign and return. shawn mccellan refused to sign it. We were unaware
of this till 2 days after the closing.(they would not return our calls)
we had no idea they were taking this file to a convential lender , we almost 100% of the time fund with our own investors, as stated above , we placed this loan "Da silva " with our outside processing company ,
we were unaware that he had sent it to van dyke mortgage, being unfamiliar with vandyke at the time we assumed they were the lender
So pardon my ignorance,however when we get a copy of the hud showing 90,0000.00 plus in fees paid and we were expecting 63,000.00 of that amount, and then were told by sean mccaalllen to "shove the loan up my ass", tell me how you would feel we worked on this file for over 2 months and if this is the kind of company you want to work for, than be my guest!!!!!!! and my name is spelled minovich at least give my family name that courtesy, and by the way my processor sandi whom you dissed above did answer your questions in a prompt and courteuos manner, i noticed you did not mention that in your response !!!so what
if she shared a laugh with you, i sup[pose you would have preffered she cried??
And by the way she has 4 children at home that went without much of a christmas because of the above, so if you are any kind of a man , speaking out before you know all the facts and dissing a single mom
i think, no demand you give her an apology !!!!! |
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hmetcalf
320 Posts |
Posted - 02/06/2008 : 12:51:26 PM
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Tom,
I understand why you are upset. Sorry for the spelling error. the "i" is next to "o". I was not trying to "dis" sandy at all. But when I asked her some questions, as an industry professional to another, it seemed she was pre occupied. I also understand you are very busy. I will not get in a pissing match at all.
The branch affiliate I currently work with is getting to go under and I have 8 employees that are looking to me for a direction. I spoke to VanDyk and they sounded pretty good and fair. With you first response, I wanted to clear the air, so I gave your office a call.
The reason I said what I did about Sandy was, again, because I felt like she was preoccupied.
Some people are just like that and if I spoke to her often, maybe it would not have been a big deal and I would have learned her personality.
Sandy, I apologize. I did not mean anything against you. I am sorry for your Christmas. I just had my first baby last week and I hope all my Christmas' can be plentiful with gifts and love for my daughter.
Tom, I would be pissed too if I thought I was screwed out of $63k, but how is that not co brokering? |
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apostle007
319 Posts |
Posted - 02/06/2008 : 1:36:47 PM
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thank you
ok follow me for a minute , let's say you have a file in a state you personally are not licensed in. You work for vandyke mortgage , you send the file in to your company to get funded ,they fund the loan .would your argument not apply to you as well?? To further clarify
the above, transaction was on a investment property not owner- occupied, therefore, it is our understanding that co-brokering in this case would not apply, also our originating broker was, and is a licensed broker in the state of fla. and we would have been more than happy to have him paid directly, and we would have received our commision from him. Bottom line is that do i really need to keep defending myself ,on a loan that we sumitted to vandyke mortgage in good faith, and we were clearly screwed out of our commision ?
Tom Minovich
Elton Mortgage
colorado springs co
719-277-6696
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apostle007
319 Posts |
Posted - 02/06/2008 : 1:42:09 PM
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p.s if you wish to hear from another broker that got screwed
contact jason kelsey of jkfunding @ 774-406-0419 i'm sure he'll be happy to share his experience as well
thanks for your time
have a wonderful day!!
warmest regards,
tom minovich |
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ehm3
979 Posts |
Posted - 02/06/2008 : 5:26:02 PM
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I don't know anything about the supposed screw job this thread is talking about but I do know at least 20 people who are present or past VDM employees, and not one of them has any problems with the company. Some have had differences but to a man they all respect Mr. VanDyk and his operation, and speak highly of both.
I've never worked directly for them but their people who I know are very good, and if I was looking to open a net branch they would be very high on my list.
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1003s.com
3371 Posts |
Posted - 02/06/2008 : 9:20:25 PM
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quote:
Originally posted by ehm3
I don't know anything about the supposed screw job this thread is talking about but I do know at least 20 people who are present or past VDM employees, and not one of them has any problems with the company. Some have had differences but to a man they all respect Mr. VanDyk and his operation, and speak highly of both.
I've never worked directly for them but their people who I know are very good, and if I was looking to open a net branch they would be very high on my list.
Ed,
it was nice to read your post, I always encourage folks looking at
a branch opportunity, to talk with people in the mortgage business,
that live near a branch company. |
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EMScommercial
5138 Posts |
Posted - 02/07/2008 : 07:28:11 AM
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tom.... my friend.... how did you get so messed up in such a deal?
by the way.... my office - i think every account manager - is waiting for you to call them.... take a minute and give us a call please....
thanks.... |
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apostle007
319 Posts |
Posted - 02/08/2008 : 4:29:21 PM
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| bump |
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craigppls
696 Posts |
Posted - 02/08/2008 : 4:41:29 PM
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| I have a question...you said you had one file...and they send it to a conforming lender...and the total fees were $90K...I must be missing something...or your charging a billzion points |
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Gary_Lacey
19 Posts |
Posted - 02/08/2008 : 5:34:49 PM
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Harry,
VanDyk is a great company. I have done some recruiting for them. They can give you the DBA you wanted. Very Pricey, but I know they offer it in some States they are licensed in. Good Luck and yes they are very strict, but strict is good. |
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kakbar
562 Posts |
Posted - 02/08/2008 : 7:38:07 PM
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| Citi is not a Conforming lender, they offer NON conforming loans, and this loan sounds like it is a multi million dollar loan that went on their Asset Based Product or High Networth product....it could have been a 3 million dollar deal at 3% loan orgination....I think Vandyke mortgage should fire the branch manager or employee from the florida office that screwed MR Minovich, I can Guarantee you that the Loan officer from the florida branch of Vandyke mortgage represented themselfs as a wholesale lender, If i were VanDyke Mortgage I would pay the Florida Broker that Mr. Minovich is referring too and 1099 that broker for the commissions that they are owed, fire the manager or employee from the Florida office of Vandyke mortgage, and move on....It is unfair to take the 63K that is owed to a person, especially if that person has documention that can prove they were deceived or misrepresented in anyway.... |
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1003s.com
3371 Posts |
Posted - 02/08/2008 : 8:52:23 PM
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quote:
Originally posted by kakbar
I can Guarantee you that the Loan officer from the florida branch of Vandyke mortgage represented themselfs as a wholesale lender,
Khos,
I have been following this thread with some interest.
And, I have talked with several people at the Vandyke Mortgage
corporate office, in the past on unrelated matters,
and must say, they seem like nice folks.
Unless I missed something in this thread, you are the
first poster on this thread, that implied the LO,
was holding himself out to be a wholesale lender.
Perhaps imply is a weak word,
you actually used the word "Guarantee".
If indeed, the LO, did hold himself out to be a
wholesale lender, it seems odd that, Tom Minivich,
would not have brought up that point earlier.
I say this because, in reading this thread,
I was impressed with Tom's ability to
express himself in a clear and concise manner.
So the logical question becomes, why would someone
with Tom's command of the kings English not make
such a salient point himself?
Again, I may have missed something,
at times I read a little faster than I should.
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apostle007
319 Posts |
Posted - 02/14/2008 : 12:39:23 PM
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| thanks for the support |
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bsmith1973
3 Posts |
Posted - 02/26/2008 : 9:42:37 PM
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| hmetcalf...I setup with VanDyk 2 moths ago and thus far I am extremely pleased. In an ever changing industry they are staying extremely compliant and that is what I like. I want to be in this industry for a long time and from what I'm seeing it will be able to take place with VanDyk Mortgage. 90% of my business is FHA and they understand how to get the job done with government loans. My Branch is already licensed in 16 states and I of coarse can get licensed in upto 34 if needed. All FHA!!! contact me at bsmith@vandykmortgage.com if you want any more info! |
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d_damiano
551 Posts |
Posted - 02/26/2008 : 10:48:14 PM
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In a post above there was this comment:
#2 say that they are charging a "LEAD ACCESS FEE", and make an agreement out directly with the individual not with the company or broker on record.
Can anyone send me a copy of a Lead Access Fee agreement?
Thanks,
Dennis
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chill13
23 Posts |
Posted - 05/09/2008 : 10:55:35 AM
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While we at VanDyk Mortgage Corporation appreciate the value of forums such as this, we do take issue with the report posted here. We have investigated this particular matter and have found no evidence of wrongdoing on the part of VanDyk Mortgage Corporation. If such wrongdoing had occurred, the poster of this report would likely resort to a more formal and effective means of remedying the situation. To date, no formal complaints have been filed concerning this matter.
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