California Real Estate
Golden State Funding ripoff Operating a scam to steal commissions from her home loan officers!

California Real Estate is a home loans brokerage company operated by Samantha T. Pham, broker and owner of this business.

I am a former loan officer for this organization back in 2004.

I was with this establishment for a short time and unfortunately witnessed Samantha Pham's illegal, morally reprehensible scam in stealing from her own employees, in this case the home loan officers that worked under her.

The foundation of this scam is that she would hire people literally off the streets or via a running ad in the Sacramento Bee newspaper to become loan officers. Once a person is hired, she would have him/her sign a legally unenforceable employment contract that stated, " Within the first two weeks of employment, the new employee has to set four home loan appointments per day and if this quota was not attained, Samantha would have the right to terminate the employee and not provide compensation whatsoever in this case being a base salary and any commissions."

The key to this scam is that under California labor laws, any directly hired employee working under the supervision of a manager, owner, or broker within an office environment where the start time and end time of a work shift is set by management in conjunction with how the work must be performed on a daily basis that even upon termination of the position the ex-employee is entitled to financial compensation.

The monthly base salary was only $1,000.00 per month and the commission rate was $500.00 per funded home loan. The heart of Samantha's scam is that for any home loans appointments that are set within the two week period of a new employee and if that appointment turns into a closing of the deal (it would still take about 3-4 weeks for the home loan to be funded by a lender from the day of the appointment set w / a homeowner) that after a month goes when the former employee has long since been terminated after the first two weeks of employment that Samantha, the broker, pockets all of the commission and not have to pay the $500.00/funded loan to the loan officer.in addition, Samantha would pour salt on the wound by not paying the pro-rated monthly base salary to her ex-employees being the initial two weeks of employment.

I have wanted to disclose this scam to the general public for quite some time and I only recently have discovered that Samantha, the broker, to this day has displayed some more backlash against me for the fact that I told her what she did was wrong and that I could not work for a thief. This disclosure to the general public is to protect consumers that are possibly contemplating to utilize the services of an unethical broker who has engaged in illegal business conduct and to inform anyone who has an interest in working for this broker whom I have seen first hand in how she methodically uses people and then spits them out.

If anyone has any doubts as to what Samantha did was illegal, by all means call up the California State Labor Commissioner located in the phone book and a rep will verify the illegal nature of Samantha's business conduct.
The part that baffles me to this day is that Samantha being in the mortgage business where the reputation of a business is so critical to its success that she would let her short term greed jeopardize her long term success in this very competitive industry.

Company: California Real Estate
Country: USA
State: California
City: Sacramento
Address: 6171 Stockton Blvd. # 170
Phone: 9163990901

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