Gregg Marcus is a Mortgage SCAM ARTIST. For your own sake do NOT do Business with him or his Firm. His former Company Somerset Mortgage Lenders Co. Is now out of Business. He is known in the Mortgage Industry as a "Bait and Switch" Broker. He will have his Loan Officers quote very low attractive Rates and Closing Costs and then will have it changed at Closing. Gregg Marcus has a History of Bad Business Practices.
If you are a Loan Officer thinking about changing Firms DO NOT even think about working for Gregg Marcus. Marcus not only ripped off his Clients but he also cheated his Employees (Loan Officers). He would change pay scales and pay his workers less than expected. Because Gregg Marcus was so Greedy on his % of Pay Out it Forced his Loan Officers to raise the Closing Costs of the Borrowers (Clients). Marcus doesnt care if you had a Family at Home to Support and Bills to pay. He was happy to earn as much as possible and pay out his workers the very bare % possible. Gregg Marcus was also supposed to be paying a Base Salary which he didnt.
You can also do a Google Search and find Court Transcripts. The Court Case involved a Former Partner of Marcus. To make a Long story short - Gregg Marcus managed to Cut Out his Partner
(a Child Hood Friend) and let his Partner take the Fall for Illegal Lending Practices they were Both found guilty of at his old Firm. If he would treat his Best Friend and Co-Partner like this you could only imagine what he would do to Clients he doesnt know for the Almighty Dollar. Gregg Marcus has so many Internet Articles exposing his Bad Business Practices that as a counter measure he paid a Tech Support Team to create Web Sites to help counter this. He even put his Company under his Wife's name. But if you do a Google Search for Gregg Marcus he is still the Number One Google Search Hit for "Gregg Marcus NY Scam Artist Mortgage Broker and Bait and Switch".
Just a small piece of advice. Before you decide to do business with any Company find out who the Owner is and do a quick Google Search you might be surprised by what you find.
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