I had a bogus job interview with ModCo Direct. I was invited to a job interview by Shawna (administrative assistant) and upon inviting me to the interview she was very vague about the position and did nothing to explain the position to me over the phone upon my request. I went to the interview in good faith thinking that the job experience in my resume was the reason for Shawna's invitation for me to come to the interview. Upon arriving at ModCo's corporate offices, a man by the name of Steve came out and greeted me. We went back to his office and I went over my sales background and experience. Only after 5 minutes of the meeting, I was told that they were not interested in me because they needed someone with loan experience. Steve explained to me that he was looking for a salesperson who had experience with originating residential home loans and that the position paid $164,000 per year "at plan". He also told me that he could only pay me $8 per hour (so that he could be in compliance with government regulations). This at plan compensation package does not make sense to me and if most likely unattainable. If this was a serious compensation package, there would be a reasonable base salary instead of a ridiculous $8/hour salary.
This job interview was also bad experience because I spent my valuable time and gas money in order to attend this interview. This company is obviously luring people into their office and looking to hire individuals so that they can pay them minimum wage under the false pretense that they could make $164,000 per year. This company seems to be out for the quick buck and trying to salvage the loan origination business that was once thriving for them.in my opinion, ModCo is nothing but a a boiler room operation trying to take advantage of individuals who have been displaced by the residential loan industry.
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