Hi. I am manager of apex #1711 operating as davie mortgage group.
I went down to apex to meet them all when i started my netbranch. They were all very nice. The compliance lady we dealt with was very kind and put or 2 loans thru asap and we were paid within 3 days.
However, the same thing reported in above posts happened with our next 2 files. I have some concerns about it for the obvious……
‘
backdating’ and original GFE is FRAUD. Ordering us to do so is fraud.
Holding our money hostage unless we do so is also dubious if not illegal.
On the other hand, i understand their concerns regarding bait and switches that they can get sued for. If there is no Apex, there are no netbranches. We can ALL help the situation by making sure we disclose all fees , and if the loan or fees change at all , just get them to sign a new gfe . No big deal.
signing the gfe at close also helps Apex not have to pay all these fines. Its a 2 way street. Lets help our employers by doing what we can -and Apex can help us by PAYING US …. lol….
I just learned that George Mason Mortgage, owned by Cardinal Bank, has been sued for FLSA violations. Apparently they did not pay their loan officers minimum wage and overtime, so it is not surprising that they now have to pay much more in legal fees and penalties, than they may have saved by violating the labor laws.
So here is a warning to all those big banks who think they can do anything they like and get away with it - you can’t. Most of the time, these lawsuits could be avoided if employers don’t play hardball with their employees and pay them in full (regardless of petty disputes over a few hundred dollars) when the employment is terminated. Happy ex employees are much less costly than unhappy FLSA plaintiffs.
For almost three weeks Alexa had stopped ranking this site. I have no idea why! But we are back on their radar screen and our average reach has moved up to 5.5 from 2.2.
Thank you all for visiting daily.
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News Search: net branch
Results 1-5 of 5
| Aapex Managers should flip burgers
Broker Network | 30 min ago
… want to back-date a GFE and nor does the borrower but Apex doesn’t seem to care. I may place this recording on my website for everyone to hear. Filed under Net Branch by Godfather. |
| Profiting From Non-Compliance
Broker Network | 20 hrs ago
… hearing stories about mortgage brokers and net branch operators who have implemented strict compliance policies to clean up their shops and hopefully the industry. No one can argue … |
| Comming Soon - Net Branch Contract Guide
Broker Network | Sunday
… manual on how to dissect a net branch employment contract and make changes to protect yourself against hidden fees, loss of your pipeline and getting locked out of your branch … |
| Is Aapex In Trouble?
Broker Network | Sunday
… urate, I would like to hear from Apex with an explanation of why they are playing games with people’s paychecks, all in the name of compliance. Filed under Net Branch by Godfather. |
| A little unfriendly exchange about net branching
Broker Network | Friday Apr 21
… the best to sign with. What net branch opportunity is actually out there that is committed to staying compliant, is honest and ethical, offers a 100% with a file fee, fast … |
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