Fact. Foundational Financial sells all its loans to Countrywide and other Mortgage Corporations. My assertion was to go directly to Countrywide and save money. As a licensed Broler, you eliminating the middleman. The mark up (margin and discounts points are a fact. They don't do this for free. They make a profit and you can frankly eliminate the middle man (Foundational Financial)
Second, I mentioned for all new employees to ask when they will get their first check. I worked for three weeks and never got a check. I was told well week three you will get a check. Then my manager told me it would be at the end of the month. They never give you a straight answer.in my class of twenty. Half quit the first few weeks. Many were seasoned and licensed Mortgage brokers, but after two weeks or three with no check... The writing was on the wall,
During my first and second interrview it was never disclosed that if you don't close a loan you would be docked $500.00 and $100.00 for parking.
Also, my manager lied to me three times about when you would get the first check, and when you sign the paperwortk that states the $500.00 deduction, I never got a copy of my paperwork to read and look over. I was told you can get it on the web.
I just wanted a head up... To new employees... You should get a copy pof all your paperwork at signing not BS its on the web. I have names of five in my class that will document waht I have said... Ps with over twenty applications not one was shredded after a denial... It has you sociasecurity and other information... Its a secure floor, but be law you should shread after a denial or no go.
The company is smoke and mirrors. You are better off going to a Direct Lender will buy the paper from CountryWide. Or Option OIne or whomever Foundational sell it to after they made their mark up profit.
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