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apple101
243 Posts |
 Posted - 08/16/2008 : 8:23:29 PM
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Hello,
Have anyone worked for Freedom Mortgage? They have licenses in 50 states and can do FHA. The website is http://www.freedommortgage.com
Have anyone worked for PMAC? They have license in 10 states. Website http://www.pmac.com
Please share your experiences. Thanks. |
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AmerisaveBroker
94 Posts |
Posted - 08/17/2008 : 12:39:13 AM
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quote:
Originally posted by apple101
Hello,
Have anyone worked for Freedom Mortgage? They have licenses in 50 states and can do FHA. The website is http://www.freedommortgage.com
Have anyone worked for PMAC? They have license in 10 states. Website http://www.pmac.com
Please share your experiences. Thanks.
Work for Amerisave!!
Why Amerisave?
1. Licensed in 50 states and D.C.
2. Lowest rates and costs with $500 Guarantee.
3. $1,000 on-time closing Guarantee.
4. 1 of only 6 Certified UpFront Mortgage Lenders in the country.
5. Shop your customer's loan among 50+ of the best lenders.
6. Ability to grow a team and earn overides.
7. All products: FHA, VA, Conf, Non-Conf, Reverse Mtgs, USDA Mtgs, Alt-A, Commercial,and all Insurance Services NEW!!
8. Rediculously awesome technology, best in the industry hands down.
9. Customers can close loans without you ever talking to them!
10. I could continue but I need a stopping point.
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velecico
5311 Posts |
Posted - 08/18/2008 : 5:06:31 PM
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Freedom is out of NJ , they are one of the few still pushing the nets in MO magazine , I believe some of the heads bought out some of the nets of Irwin Mortgage back in 2003 , there is a guy here on BO that has a branch in North Jersey |
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csokol21
79 Posts |
Posted - 08/18/2008 : 6:29:37 PM
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I have several clients who have worked for/with them, and found them horrible!!! They cut branch's off with out warning, and create alot of RED TAPE. They can do FHA- but you need to jump through there hoops- and until you have completed that you have to give the loan to them. Also- they can/have taken money out of branch's ledger (thousands of dollars!)due to an error with in there operation and said "oh well" deal with it... and since there employee agreement are so PRO Freedom and ANTI Employee they were able to get away with it.
I recommend MLD Mortgage, also the Money Store.... they have proven to work out great for alot of my clients!
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apple101
243 Posts |
Posted - 08/19/2008 : 9:51:39 PM
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Does the Money Store work very good? I heard that they can close loan in a week. They can close FHA, VA loan too. They have licenses in about 41 states. Thanks.
Website: www.themoneystore.com |
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lvmtgbroker
5 Posts |
Posted - 08/20/2008 : 09:38:19 AM
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| I have heard nightmares about The Money Store and their inability to close loans on time and pay according to their contracts here in Vegas. It was kind of a newbie that had told me that and I do not have any personal experience with them, but when he told me what his checks came out to, I about sh*t..... I process for Envision Lending Group (broker) who is in about 45 or so states and is 100% commission (W-2) with a $450 broker fee and the best customer service department EVER! I am not sure if this is what you were looking for, but it is worth checking out. As far as Freedom Mortgage, I have used their wholesale division quite a bit www.freedomwholesale.com and they seem to be very easy, but slow. |
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apple101
243 Posts |
Posted - 08/20/2008 : 10:44:16 AM
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| Oh, I see. Thank you. |
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Managing Prime
2960 Posts |
Posted - 08/20/2008 : 12:56:45 PM
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| Avoid money store. |
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velecico
5311 Posts |
Posted - 08/21/2008 : 6:41:35 PM
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The guys name on the BO is Jeff Coon , he has a branch in NJ talk to him , he seems happy with them |
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mmusic
3 Posts |
Posted - 08/22/2008 : 6:38:38 PM
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| I am a mortgage banker in Indiana. My company has never been a non-comforming lender and our niche has always been price. The current market conditions have forced us to expand who we are. Just signed up with Freedom about a month ago and they have been a wonderful addition. They allow us to close in our name and they scrap to put a deal together. They are consistent...what else can you ask of a lender. |
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csokol21
79 Posts |
Posted - 08/25/2008 : 5:00:05 PM
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| Yeah.. wait until you are with them for a few weeks...the first month was easy- it was down hill from there though. Once you have switched your whole pipeline and they know they have you up against a wall. I understand every net branch company has corks etc, what bothers me at Freedom is them taking money out branch ledgers for errors they made and said "oh well".. They are NOT Employee friendly, although they do put the rose color glasses on you at the start! beware... |
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dennis@padda.com
198 Posts |
Posted - 08/26/2008 : 7:19:58 PM
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| I just became a branch of Freedom Mortgage, What they tell you on the phone and what comes out of it is different. I have only been with them about 1 month. Can't do FHA yet, And pricing is terrible. Rates suck and YSP does to. $495.00 per loan + + + so it usually cost about $1200.00 to do a loan with them..... Call Bob at 1003's.com. He has hooked me up with a real nice branch company and they only charge $500.00. nothing more. No underwriting. nothing. The rates are a whole point better than freedom. |
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dsmisterman
45 Posts |
Posted - 08/27/2008 : 11:19:51 AM
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| I have work with them alot they do EA's which not many banks do many more but Freedom take's FOREVER I many 4-5 weeks. They don"t 4506 really. |
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smoothlid
481 Posts |
Posted - 08/29/2008 : 7:50:18 PM
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Sorry to hear about your experience with our company.
We are with them for almost 2 years.
We do mostly purchase loans.
We average @ $5800/ per loan, with avg loan size of @ $275k
We bank @92% of our business with Freedom.
We have very little fall out, & most of our loans we submit close.
I have recently turned an FHA purchase deal in 4.5 business days from submission to ctc. ( not typical, but....)
We enjoy great support at corporate office.
We have not had any accounting irregularities.
Corporate listens to branch input
We can't find a company we'd rather work with, & yes, we checked around.
Not everyone is ready/capable to be a branch manager. Take what you read with a grain of salt.
Our costs per file are actually average from what I have seen. ( you need to factor in what some companies charge per month, or tack on to each deal for "reserve funds" etc.)
Turn times have gotten a bit longer recently with influx of so much FHA, corp has reacted by hiring add'l u/w & process staff, & times are getting faster. Conv turn times are mostly same day or very early next day.
We have small broker lender list, but we don't care, we bank.
& yes, our rates are higher than what a lot of you can get. We know it. wasn't always this way, won't always be. I'm confident knowing they will be around & not leave us hanging. I have talked with other branch operations that have 4-5 people running things, ( some less!) & I've experienced working for a small net branch office prior to joining Freedom. Night & day difference. This is a "real" company.
We have a nationwide footprint, FHA, a wholesale division, (small retail ops too) a renovation lending division, licensed in all 50, with some good technology & apps.
Best of luck.
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smoothlid
481 Posts |
Posted - 08/29/2008 : 7:54:58 PM
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quote:
Originally posted by velecico
The guys name on the BO is Jeff Coon , he has a branch in NJ talk to him , he seems happy with them
:) |
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velecico
5311 Posts |
Posted - 08/31/2008 : 4:56:05 PM
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Jeff , shoot me a rate sheet so I can compare it to Gateways |
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kdwall
559 Posts |
Posted - 09/01/2008 : 5:34:45 PM
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| If you are comparing to gateways you will find many lenders with better rates. Gateways rates are not competitive. At least every time I looked at them. |
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jmcguire7
49 Posts |
Posted - 09/01/2008 : 6:44:24 PM
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www.citizensfinancialmortgage.com
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HMDApproved
729 Posts |
Posted - 09/02/2008 : 07:04:53 AM
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| I have met with many guys from Gateway, their rate sheets were at least 3/4 of a point worse than my sheets. Gateways pricing is terrible and from what I have been told, they are taking several weeks to close loans. |
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dennis@padda.com
198 Posts |
Posted - 09/10/2008 : 4:13:48 PM
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| Well I was a Freedom Mortgage Branch and they didn't do a thing for me other than cut me off. Because I of what I posted previously. Freedom Mortgage *****, they have bad AE's and had issues with my branch being next to my old employer.... why i don't know. But no loss here. |
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velecico
5311 Posts |
Posted - 09/10/2008 : 6:49:38 PM
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quote:
Originally posted by HMDApproved
I have met with many guys from Gateway, their rate sheets were at least 3/4 of a point worse than my sheets. Gateways pricing is terrible and from what I have been told, they are taking several weeks to close loans.
Unless they where branch managers the rate sheets you saw means squat
we can tweak it with secondary , besides if the in house price is not competitive we can just broker it off and pay $750.00 , how can your rates be that much better ? |
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tomwinand
5 Posts |
Posted - 10/01/2009 : 8:42:15 PM
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I recruiter for a First National Bank. They have the beat 50 state lending solution. Loan Officers can work virtually from their home and originate in all 50 states. We in house underwrite and fund FHA VA Conventional loans in all states and fund with bank funds. You are under the banks FDIC licensing so no expensive state licensing is required. Actually you have to inactivate your license. Great commission splits and sharing available. No expensive up front licensing fee.
I would love to talk abut this opportunity.
Tom Winand
866-611-7702
Area Manger
First National Bank Mortgage Division. |
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