Consumers looking for a home loan AND Loan Officers looking for a Broker to work for, both need to be careful of this company. Be sure to check the web when you're looking for a place to take your home loan or if you are an LO looking for a company to work for, because this guy is covered in MULTIPLE complaints. From Consumers, to LO's, David Ware has just about screwed everyone over that has ever been affilited with.
Consumers:
be aware of Bait and Switch. This guy offers rates on his website, and then in a teeny tiny disclosure he lets you know that the below average rates you are seeing are for a VERY particular product and ONLY in the state of Texas, although he advertises those rates to everyone across the nation. As the formal Branch Manager there, I've seen the dishonesty from this guy first hand, and was constantly having to deal with the on going complaints. Even one of my old friends called me to tell me that David Ware told him one interest rate, and then sure enough at TITLE, when he was going to sign - the rate was MUCH MUCH higher than discussed! It's the slimiest trick in the book - and David practices it frequently. Too late for my friend to back out or else he'd lose the house, he was forced to sign. Come to find out, he also stuck him with a two year pre-payment penalty so he'd make more money on the deal and Eric was stuck with the bad rate!
Loan Officers:
Even worse. This man has been through more "branch managers" in the last few years than most go through in a life time. I should have known the position was too good to be true when I heard how many people had my position before me. Not only will you have to deal with your clients complaining about not being able to attain the interest rate displayed on the website, but his credit is so bad that his relationships with the Lenders he CLAIMS to be affiliated with, as I found out, no longer have anything to do with him. They drop him for lack of business, dirty investor loans - or they flat just do not want to work with him anymore because he and his processor, which I believe is just about the whole company now that everyone has quit on him, are so terrible.
Every LO I hired, he messed up on their paychecks at one time or another. On his website he claims that "experienced LO's" will recieve 100% of their commision. This is a blatant Bait and Switch as well. The TRUTH is that you can ONLY attain that by giving him $500 a month charged on your credit card, which he fails to disclose. He gets LO's interested that way, and then signs them up for the fee pay scale, claiming "100% less our fees" which literally calculates out to about 70% AT BEST. That MIGHT still sound good to you, even though he Lies about it up front, but he also claims to give you leads, which I had multiple LO's quit because he instead gave them access to Zillow, which every broker in the U.S. Is on, and charges you even MORE of your split because it's a "lead" supposedly. I assure you, Zillow is in NO WAY an actual lead based generator like you have in mind.
And this is only the tip of the lying iceburg. Believe me, I had to leave because I couldn't deal with his lies anymore, and his constant supposed "mis-calculations" of paychecks. He even stopped payment on a measly $150 check that was owed to me for loans that had previously been closed by one of my LO's but in light of me leaving, he cancelled it on me. Money already owed. THAT is pure slime.
Also, even on the pay scale split, he will claim to you that the fee he takes out encompasses everything, but then you will also see a $75 charge being taken out or owrse yet he was trying to make me get credit cards from all of the LO's for as well for use of his point and outlook. Ethically inept, and a true scoundrel; LO's and consumers NEED to be aware of this company.
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