What's the company culture at AMERISAVE MORTGAGE?

Jays I think you mean Haley

you are correct, my apologies....trying to do to much multi-tasking at my current Chase job, which will be shutting down this site this summer...severance time!

one other thing...Chase is actually hiring about 70 Home Equity LOs at there center in Milwaukee..if anyone likes snow!

Haley, I think Amerisave does probably stink, they are definitely taking FULL advantage of people in this market and YES, they are greedy and YES the dude who gives the webinar is a total SPAZ and sounds shady as hell, he probably IS shady as a Florida night. He’s a total used car salesman. I have no choice so I am giving them a shot but I think these people like the one who said they knew you - are just high ups at A.S. trying to save their rep. Don’t worry about who doesn’t believe you. If AS is the pits, it will come out and if I don’t make money quick, I’ll be right on this site telling everybody. But if it’s not as bad as they say, I'll tell you that too

What was so bad about it when u were there?

Im a former Amerisave ABPP who was on the Inbound Call Center. Here is what I liked:
- work from home - no commute
- good rates
- pretty good technology
What I didnt like:
- processing was poor to medicore depending who you get(round robin)
- JoseJose is right on about the Team Lead situation, if you get stuck with a lazy or inexperienced Team Lead you are s*** out of luck
- you are treated like the red headed stepchild, in other words if you are not in the ATL office you are totally on your own
- comp plan was never properly explained and why was I giving 10% for a "payroll admin fee"???
- almost all inbounds calls are 3rd party transfers, so you have a telemarketer handed off calls and most are flaky internet shoppers or impulse banner ad clickers who have no business filling out a lowermybills form
- when i was recruited i was told that there was an hourly wage, its a draw that you have to repay so basically you better kick butt in the first few months or you will be in the $ hole !!!
- the timesheet wont allow you to enter Overtime, which is illegal in California...they obviously havent learned from Class Action Lawsuits against Ditech and Countrywide
- the owner was trigger happy when i first started, firing loan advisors or demoting them to the outbound team after a few weeks, sending out emails demanding more production...im pretty sure he realized how demoralizing this was because he rarely communicates directly
- from what it seems, your team lead can also originate loans which to me is a huge conflict of interest

Im not bitter about Amerisave, I actually wanted this to work out. As my co-worker put it perfectly "good in theory" but thats about it. If you are making $50 K per yr anywhere else and you are happy, I would not recommend this job.

Unfortunately, I am really strapped and cant afford to buy my own leads so I am pretty much stuck. I’m actual in Atlanta so I am hoping it’s better being here. They made it sound so great and all the people I’ve spoken to were really helpful. I don’t mind the crap splits for now if I can get some real leads. So were the leads garbage too? About how many loans were you able to close per month? Are the 12 deals per month that they like to see -even feasible or did you find it was more like 5 deals per month? Once u submitted your deals to processing, how fats/slow were they? Do you mind telling me how long ago you were here? They claim this slow spell was in early 08 and they have hired 30 processors so all is well now.

Where r u now? U can send to kataravita@yahoo.com if you don’t want to post it. I am probably headed there because I need a place to be but I'd rather be somewhere that doesn’t have so much negativity around it.

Schreebs in Littleton, Colorado said: Hey Corry,

Sorry I dind't get back to you earlier. Things have been crazy busy. The thing that separates this company from all other companies are their job opportunities for loan officers and the tools they have set in place to make you successful. I'm making great money with this company. I was with 3 lenders in one year prior to this company an not any of them could compare to Amerisave. The in-bound call center job, which is by far the most popular and lucrative, requires a bit more experience. The other positions only require 6 mos. experience. All jobs also let you hire loan officers nationwide from who you can earn increased commissions from.

There is also a presentation that Amerisave offers from the Vice President of the Company. Let me know if you would like to attend. It give you a look at all of our back-end technology and the systems that we use. Also, I can e-mail you a more detailed description of the jobs available. Unfortunately Indeed does not give me enough room.

Are you still there and still successful? I gotta tell you, Im nervous about trying them because so many people have so much bad to say. do you feel is just a total lie or are they all confused? Are you making at least 8-10k a month? Is anybody making that much on the inbound side?

killgja in Atlanta, Georgia said: Make that 38 new processors in the last month. People are closing a lot in revenue on a monthly basis. I wouldn't say 70k in revenue is an average month for a loan officer at the company but you should average 30k or higher in revenue each month. That comes out to 9k for you or more. Add to that income overides from people you have recruited and it adds up quick especially if they come into the call center as well. For every person you bring on to the call center you should get a monthly overide around $1,500. This is assumes they close at least 30k in revenue. Get six people and you have doubled what you make each month if they close what you close each month. Then the 9k is at 18k. Get 12 people and you should be at 27k. You get the point.

So many people seem to suggest that 9k a month is HARD because of bad leads but you say 12k is working...do you find this is norm? Are yu on the inbound team? How long have you been there?

If you are on the inbound team and on the phones 8 hrs a day and a good salesperson, you can app 2-3 a week. Recently the average person is doing 1 per week according to the weekly sales report. If you arent hitting that 20 k + in revenue, you are really wasting your time. Example: 15 k in revenue would give you about $3100 where 20 k would be $6600, 22 vs 33 percent, but this is BEFORE the junk % they take 10 loan loss reserve and 10 payroll admin, so $3100 is really like $2700 and $6600 is really like $5900 approx.

A common complaint is the misleading information regarding what reps are making, the email that myself and many others received that recruited us claimed "get ready as you will be making $15 K per month". I would say currently there are just handful of reps making over $10 k per month.

If Amerisave would just be honest and upfront about the average income reps are making instead of using Multi Level Marketing tactics to describe unrealistic scenarios, then half of the negativity would disappear. You dont mess with someones paycheck, and certainly dont mislead someone who leaves a job (like those Ditech folks) based on promises that cannot be delivered.

And to the person from Atlanta (hmmm thats where the Amerisave office is located), the average inbound person is NOT closing anywhere near 30 k a month. Why dont you send out the March Funding Report (just erase the names for privacy) and everyone will see that only the Top 5 or less did that much...Again-misleading info. The main reason - the business model is built as an MLM so they will tell you anything they can to recruit you onto their team...so they get an overide. How can you get an unbias opinion when they have a financial gain by dazzling you with a webinar and big numbers!

Are you a current LO FOR Amerisave? have been following this forum and I been wanting to join either Amerisave or APEX Lending. I am really attractive to Amerisave business model; However,I am scare to join due to the negative. I am not like most of people here who accustom to make $10.000k plus a month. I got my license on May 2007 and prior to that I worked partime as an mortgage consultant with my sister-inlaw we close several loans and made good money.She went to work for wholesale after the initial crunch and I am have been looking for an internet base company since. I am working for the gov. in another field, and advertising my business would be consider unethical in my working circle. So I would have to really utilized the internet and any leads I could get via internet.Has anyone that join in the last three months making any money? Also has anyone heard anything on Apex?. How is the process in which you are assign a team leader? Is the person who refers you your team leader? Thanks!! you can email belsy.mcdonald@gmail.com

I have been thinking about joining Amerisave too.. I like the inbound thing.. but this is not the first time I've heard about the bad processing turn times, MLM, not paying overtime correctly and the draw that ACCUMULATES each and every month... is this true? If so, I fear for amerisave..Normally I throw negative news to the wind, but the problem is, is the BAD news is all consistant. I think I'm gonna pass, until i see some true FUNDED numbers. Can someone who actually works for the company put up some FUNDED numbers to show that people are actually making the income they claim. I'd love to believe the hype of amerisave by the recruiters, and the webinars, however, it seems like there is smoke coming out of the building, and people running out yelling FIRE, but then you see the amerisave recruiters telling you theres no fire, and its all good to come in.. whats the real story? Show some numbers PLEASE!

Ron Villero in California said: I have been thinking about joining Amerisave too.. I like the inbound thing.. but this is not the first time I've heard about the bad processing turn times, MLM, not paying overtime correctly and the draw that ACCUMULATES each and every month... is this true? If so, I fear for amerisave..Normally I throw negative news to the wind, but the problem is, is the BAD news is all consistant. I think I'm gonna pass, until i see some true FUNDED numbers. Can someone who actually works for the company put up some FUNDED numbers to show that people are actually making the income they claim. I'd love to believe the hype of amerisave by the recruiters, and the webinars, however, it seems like there is smoke coming out of the building, and people running out yelling FIRE, but then you see the amerisave recruiters telling you theres no fire, and its all good to come in.. whats the real story? Show some numbers PLEASE!

What do you mean the inbound thing ???? inbound sales is for people looking for low hanging fruit .Guess what if you can't sell loans now you won't be able to on the inbound call center . The only way to go is join the outside sales group order some leads sell loans on your terms and they work for you . Why would you want to work for them ? do you really need $8.00 per hour that bad .

Thank you captain obvious.. the point im making is simply that I have recruiters emailing me each week telling me that "inbound call center" people are making $18k per month. I am able to consistantly make 10 - 12k a month now, and from all the stuff im reading from actual employees, who we're making that kind of money before they left for amerisave, it sure seems like Amerisave is heavily inflating its numbers, and therefore screwing people who had good jobs to begin with. The point is, there are too many negative things said about amerisave for me to go there. It is abnormal to hear that much bad talk about a company.. therefore I'm gonna stick to what I do best. Would be nice if these "leeches" they call recruiters would leave me alone. One of the worst pyramid schemes i've heard of.

Let me guess, what you do best is nothing!!! Man I would love to see your 2007 w-2.

xalliedguy in LA, California said: Let me guess, what you do best is nothing!!! Man I would love to see your 2007 w-2.

Let me guess.. you're one of the amerisave recruiters (leeches)?

Xalliedguy... since your obviously working for Amerisave, are you gonna be the first one with some balls, and put up some numbers, or are you gonna hide in your cave like the rest when called out?

I can’t imagine anyone anonymously coming to this site nite after nite defending Amerisave and calling the doubters names unless they were recruiters or the owner Patrick Market or whatever his name is. When I get there, I’ll be honest and post and let you all know how it is. I am NOT a recruiter and I’m used to making about 9k a month in my past years as an LO. I’m only applying because I need leads and can’t afford to buy them right now. So far, the Wilkes dude is quite shady and a definite spaz like coke times 10, and they are definitely the greediest company I’ve ever encountered but if I can close 10-15 loans a month, ON TIME, I’m straight so I’ll keep you all posted.

Looks Like the poser is mad .

do you have to have a license?

xalliedguy in LA, California said: Looks Like the poser is mad .

Just what i thought.. you'd think at least 1 of the millions of members of the pyramid scheme.. I mean recruiters for amerisave would be able to show some "Funding numbers" by now. This proves that your full of it, and completely destroys any credibility you thought you had.

"wingman" has it! that's the most accurate comment i've seen. the rest are bulls**t. post that march funding report. there would be no more questions.

Are you Ann Ko that used to work at Ditech?

I signed up for Amerisave and Im regretting it already. I saw the weekly sales report, you have the top reps doing 3-4 apps, but top meaning very few like less than 10 out of 200. Most teams have 20 reps and they app 10 per week, thats less than 1 per rep!!!

Also, even the stupid override thing doesnt work! I recruited a Regional Sales Director, because he was a top producer. But because he is the same level as me, I only get a generational override of 2 % !!! How the hell are you gonna make any money like that??? If the rep grosses 10 k you get $200? C'mon!!!!
You only get 5% if you recruit someone less capable than you...that makes NO sense.

Unless the owner or someone in a executive level position comes clean and addresses these issues...there will always be a negative mark on Amerisave...you have 200 reps running around the country selling you "the dream" likes its Amway or Avon!

"lower my bills" leads are a joke industry wide. a lead is generated even if the borrower leaves the page before the info is complete. these dont convert. somebody tell me different.

"lower my bills" leads are a joke industry wide. a lead is generated even if the borrower leaves the page before the info is complete. these dont convert. somebody tell me different.

I think you wrote this wrong, I think you meant to say you are a joke and YOU cannot convert

Tao Long in Roseville, California said: I signed up for Amerisave and Im regretting it already. I saw the weekly sales report, you have the top reps doing 3-4 apps, but top meaning very few like less than 10 out of 200. Most teams have 20 reps and they app 10 per week, thats less than 1 per rep!!!

Also, even the stupid override thing doesnt work! I recruited a Regional Sales Director, because he was a top producer. But because he is the same level as me, I only get a generational override of 2 % !!! How the hell are you gonna make any money like that??? If the rep grosses 10 k you get $200? C'mon!!!!
You only get 5% if you recruit someone less capable than you...that makes NO sense.

Unless the owner or someone in a executive level position comes clean and addresses these issues...there will always be a negative mark on Amerisave...you have 200 reps running around the country selling you "the dream" likes its Amway or Avon!

How long have you been there? I was thinking I would just do it for a few months to get on my feet, I know they are greedy but is there ANY way to make 6 deals a month? I mean, is thst TOTALLY impossible? Ae you working standard hours 830/530 or off hours?

If this is THE ANN KO from Ditech then everyone needs to know her secret because she made INSANE MONEY!!!! He ll, why are you not retired?? LOL

We all made insane money at Ditech.. but Ann Ko took the cake.. anyways.. yeah.. Amerisave has pretty much shot themselves in both feet, and can barely walk.

We all made insane money at Ditech.. but Ann Ko took the cake.. anyways.. yeah.. Amerisave has pretty much shot themselves in both feet, and can barely walk.

Hey Ron, congratulations on being a good rate quoter, no one did better than you picking up that low lying fruit. what are you going to do now go back to being a janator or shoe salesman?

yeah... you know me... and janator is actually spelled "janitor". Did you ditch your 3rd grade english class again holdem?

your right, Amerisave does have a problem, they need to stop hiring losers like you guys

hey order taker, i am ready for lunch. let me know when you get you pad out.

"holdem", you can't try and light people up on this site if you cant speak english or spell correctly. you make yourself sound stupid.

"when you get you pad out"?? at least read what you wrote before you hit the reply button!

you obviously don't have to be smart to work at amerisave.

my spelling and english may be a little off but the fact remains, these guys complaining on here remind me of the first 15 minutes of Glen Gary Glen Ross. it seems they would be a better fit for a job at walmart or perhaps as a waiter or waitress taking orders but I'm sure they would still fail and point the fingur rather than the thumb and offer up every excuss in the book for them not getting the job done! and dirty south, feel free to go ahead and correct my misspellings for me. maybe I'll let you take my order next.

holdem... are you gonna be the first of your kind to put up some funding numbers? (Before you respond.. please have your mom check your spelling to make sure that it is legible)

Holdem.. here ya go little buddy... i really felt bad for ya... but I can't say I'm shocked that Amerisave hired someone with your intelligence level.

Here ya go:

www.merriam-webster.com/

Ron where is my dinner biotch. I thought I gave you an order for a med. rare T-bone, with a side order of baked potato and mixed vegetables. oohhh did you forget your pad you little order taker? don't worry I will still give you a tip. BTW thanks for the webster link, I unlike you do try to make improvments to myself.

holdem... come on man... "improvments" is actually "improvements" You really dissapoint me now.. I JUST gave you a free dictionary! I certainly hope you don't speak as bad as you type. How many borrowers do you lose simply for your horrible english, and grammar?

Where are my funding numbers??

Ron, again, thanks for the dictionary but where is my steak dinner

YES!!! A+ I knew you could do it holdem!!! I'm so proud of you! Now.. onto the next problem... Do you know how unmanly it sounds to beg another man for a steak dinner?

Ron, I will make a deal with you. I will read the dictionary and improve the way I type if you watch the first 20 mins. of glen gary glen ross the movie and admit that you and your little buddies on here are just like the losers in that movie. I of course am Baldwin.

Ron Villero in California said: YES!!! A+ I knew you could do it holdem!!! I'm so proud of you! Now.. onto the next problem... Do you know how unmanly it sounds to beg another man for a steak dinner?

No Ron, I don't beg waiters I give them orders.

wow! this site is awesome. i heard about amerisave and just wanted to get some insight. how does the multi level thing work if nobody is actually making money closing loans? if most of the agents in your pyramid are only making 3-4k a month, wont they eventually quit? someone on here said the top agents are only putting 2-3 deals a week. it doesnt sound like the amerisave model is working. most loan officers i know arent making 12-15k anymore but are at least making 8-10k. it sounds like there are some employees of amerisave on this site. is this realistic at amerisave?

The dictionary is only half the solution. Holdem... I know your parents weren't too demanding on your education, but I must say that I would be very proud of you if you finished elementary school. I think this would be highly beneficial to your pyramid scheming position at Amerisave. Just think about it.. you could use proper use of the English language to persuade those who may be as foolish as you to join Amerisave. Now, THAT is a concept.

Clever Ron, but lets not skate the issue here, Amerisave is a great opportunity to make money and you and your loser, order taker friends point the finger, instead of the thumb! It must get tiresome to constantly come up with excuses for your failures.

holdem - you dog the ditech employees on here about being "rate quoters" and taking low lying fruit...but what the heck do you think Amerisave's business model is built on? Your Title is INBOUND CALL CENTER? How is that any different than Ditech or other call centers? Oh i know...you are making crap money and running around like an Avon lady trying to get people to sign up...while these other people on here are just trying to warn other intelligent salespeople what a scam this place is! Now go talk to that Indiana $45,000 manufactured home with 110% LTV Lowermybills lead you just got transferred to you from some telemarketer who barely has a pulse!!!

Ha ha ha... nice Tao! Holdem... i'll make a deal with you... i'll make your steaks for you (yes you are gay for asking for that), if you have the balls to put up the April funding numbers. Now, thats a deal you surely can't refuse.. go ahead.. put up the April funding numbers.. lets see how many people are making anywhere close to what you knuckleheads are claiming.

To everyone reading these forums: Make sure you do yourselves a favor.. if you are about to join this company, you'd best do yourselves a favor, and not get fooled by the smoke and mirrors display that is put on by these shady recruiters. Most of them tell you how much revenue people are submitting, but just like others have said earlier in this thread.. those are NOT FUNDED loans.. hell... I could submit $90k in dog crap each month, and not close it too. Read be the lines, or become a victim.

Does anyone have the balls to put up the funded numbers? Any one of you? Now's your chance to prove all us wrong. If not, at least have morals, and be honest about what people are actually making.. Wingman was the first one to give "acurate info".

The balls in your court.... prove me wrong.. ha ha ha!!! (There.. i had the last laugh)

amerisave will not last if rates stay above 6%. the only reason they got busy was from a couple temporary rate drops this year. the lead source is the main problem. cheap leads cause busy work and no production. low overhead is one thing but if you dont invest some money back into the company you will lose everything. buy better, more expensive leads!
i hear the agents are at an all-time low for originations and management is praying for another rate drop.
good agents dont "sell rate" anyways, right?

Yes, the Weekly Sales Report is sent out every Monday and the last 2 weeks have been AWFUL! Like mentioned above, very few are taking 2-3 apps per week..and lets make this clear - APPS NOT FUNDINGS! We all know that even the best salesperson will lose at least 20% of their pipeline to low appraisals, etc. The rest of the teams are avg less than 1 app per LO!!! Amerisave might stick around, but as soon as they are start downsizing who do you think will be the 1st to go? The CEO's buddy that has worked in the ATL office for 5 years or some guy out in the middle of the US who has never even met his own manager! The Inbound and Outbound ABPP Teams were created to handle rate drops and overflow...they were hoping to see enough biz to support these teams but now its really bad.

Below is a cut/paste from Three of my recruite's pipeline. Keep in mind this does not reflect anything that was closed prior to the 30th (yesterday). The total of active loans is currently ~51k, ~23k and ~52. Obviously there will be some fall out with how strick guidlines have gotten, declining market values...etc. Nobody said work was easy. Last month these cadidates alone close out, 38k, 22k and 42k.

Report Loan Totals $0 $490,100 $0 $174,600 $400,000 $1,308,750 $0 $538,000 $0
Report Revenue Totals $0 $14,615 $0 $5,206 $4,690 $20,608 $0 $6,902 $0

Report Loan Totals $0 $786,000 $0 $0 $168,000 $142,500 $0 $86,500 $0
Report Revenue Totals $0 $13,927 $0 $0 $2,386 $4,329 $0 $2,680 $0

Report Loan Totals $0 $1,000,000 $0 $133,000 $296,000 $461,000 $406,000 $239,000 $0
Report Revenue Totals $0 $23,976 $0 $3,514 $9,044 $7,188 $3,459 $4,644 $0

At this point I only work on building my team and don't actually originate much myself. In the past my average month was 30k when I originated full time. If you say it can't be done at Amerisave you just don't know how to sell and you might need to get out of the business untill loans start falling from the sky like they did a few years back.