My name is Jason, I used to work for Moneytree Mortgage. All of the things they say are very true. Randy Webster, was in the business to collect application fees, not do loans! I was working for Moneytree from April. 02 til Nov. 02. I was actually a Loan Officer, not a telemarketer like the people he hired after me & a couple other people.
Part of the reason I left the company or was forced to leave, is I refused to contact the NCD files (No Can Do) people who would need an act of god to qualify for a loan. He tried to intice us to collect a fee anyway buy offering a $50 comission for each one collected. The catch was we had to collect 25 a week just to get anything. As a Loan Officer, we were payed a 50% comission split for every loan that was closed & funded. We were all comissioned based.
I wasn't working to collect app fees from people that wouldn't turn into a closed loan. Why settle for $50 bucks when you could close a loan & make 50 times that! He really wasn't one to see eye to eye with other opinions. I guess he figured it was easier to just get fees up front with no work, then actually work a loan like he was supposed to. I got into the business to help people out, achieve the american dream of owning a home! I still believe in the same motto, which is why I'm still in the business & will continue.
Randy Webster did try to force fear into all his employees to get what he wanted. I have to say, coming from a very strong minded & confident individual he got to me after a while. When I realized this, is when I left. Someone made a very good response in this forum аbout: All you had to do is tell them to pay off collections & make payments on time then check back in a few months. It might take almost a year in some cases but it's worth it for a better loan!
Just an example of a good loan that is easy to qualify, the governments FHA (First Time Homebuyer) program. You need 12 months clean credit (no lates), no collections, 2yrs job history that must be verified, rental history for 12mths (on time). You can have a zero credit score, they will except 3 alternate lines of credit, utilities, phone, cable etc... Anything you've paid good for 12mths!
This loan can get you in your first home with zero downpayment, you may need to pay a few reserve fees for taxes etc. No more than a few hundred dollars. This loan is a fixed rate & current rates in the 5% range as 3/16/04. There are a couple more that copy the same guidelines.
I would like to post information of a legitimate company that will & does repair credit for any individual. I have no vested interest nor do I get any kick back from them. I actually refer every client of mine that needs help, even my closest friend just started with their service. The company name is N.F.O.R. C (National Foundation On Restoring Credit) they are located here in Atlanta, their website is www.nforc.com You can tell them that Jason sent you but they won't know who I am.
I'm truely sorry that so many people have been victimized by Randy & Todd Webster & these crazy* telemarketers! I have been in the process of my own lawsuit against Randy Webster since May. 03 for a loan closing that he didn't pay me for from Oct. 02. His motto is he will spend the money that others don't have to run from any problem or drag it out so long, that the problem will go away. For myself & everyone else he screwed I'm not giving up or going away.
I'm a firm believer in you reep what you sew, what goes around comes around & every dog has his day! God will have his will with Randy & Todd Webster cause God doesn't like UGLY! I hope my column was informative & possibly helps someone out there. Don't give up on getting a home it's your constitutional right to own & they keep making it easier for people to do so, just be aware of the predators out there. Not everyone is honest, on the same note not everyone is dishonest!
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