What's the company culture at AMERISAVE MORTGAGE?

post the numbers for everyone to see, or cut this crap out.. your just delaying the inevitable

Here are the areas most should consider before taking this job:

Leads: Yes there are plenty of them. But keep in mind 99% are internet leads not actual inbound calls. Its a numbers game, if you work internet leads well you coudl do ok. But you are on an autodialer all day (as of recent) so be prepared to pound the phone all day.

Support: Poor. Processors are weak and not motivated to close deals in a timeley manner. Team Lead is a russian roulette, if you get a bad you are screwed. I would wait sometimes 3 days to have my Team Lead lock my rate, and then the rate is higher so you have to repitch deals left and right. You are the red headed stepchild unless you work at the ATL main office. You will be pulling your hair out waiting for a call/email back for something that couldve been answered in 30 seconds. Technology is good, not sure with the new autodialer system.

Comp Plan: 22% or 33% on the inbound team is decent, but they hit you with a junk 10% payroll admin fee. Also, if you are a top producer and get on the App Team, those dont count towards your revenue at 33%.

Company: When you call an internet lead, they will say Amerisave who??? You are thrown in the same vein as the local broker since Amerisave is not a household name like WAMU, CW, etc. The President of the company seems hot tempered, sending threats out to the entire company about production, etc. Let me ask you this, if they consolidate the sales team, who do you think will be the first to go? Someone in the ATL office or some guy in Toledo, Ohio sitting in his boxers at home? The Recruiting element of this business model has destroyed credibility with potential candidates. I want to write loans, not work for Amway or Avon. Its a conflict of interest to let Recruiters run wild on msg boards touting extreme results that most will never achieve. Thats just wrong.

If you read through this long post you will see that it is the same three people trying to slam Amerisave which leads me to conclude that:

A. You are the competition posting these bogus posts under different screen names.

or

B. You tried our program and couldn't cut it and now for whatever reason you want to spread false information b/c of your misfortune.

Leads: 99% of the leads are not internet leads. They come from a variety of sources. If you are on outside sales 100% of your leads would be from internet leads but on ICC you receive internet leads as well as ppl calling in or filling out an application on our website.

Support: Wrong again. Processors do not get paid unless the loan funds. If that isn’t motivation to close loans then I don't know what is? It would never take your team leads 3 days to lock a deal. The only instance I could see this happening was if you did not set up the loan for review correctly. Another false story.

Comp Plan: If you don’t like our comp plan there are MANY other companies that will pay you more. But you will not get the benefits that you will with us. Truth is 100% of nothing still equals nothing at the end of the day. In my experience the only people that are concerned with splits are the people that book one or two loans per month. The successful lo knows that it's a numbers game and they focus on generating revenue and their production. As far as the 10% is concerned it is taken from the bottom number so if you gross $1,600 in revenue after your split, etc that would only be a $160 payroll fee. You have to remember that it costs us money to send out payroll twice per month and pay Employee fica, etc.

Continued in the next post . . .

Company: We work very hard on branding our good name. This is one of the reasons we spend over 15 million every year doing so. In my experience 8 times out of 10 when I ask the client if they have heard of us, they will say yes. For the ones that have not our technology will send out an automated e-mail with some more info about us as well as links to various news articles, etc we have appeared in.

We have sales goals like any mortgage company. And the sales team is not going to be consolidated. As far as I know we are one of the only mortgage companies that is hiring currently in all 50 states. We have been around for years and seen different markets and know how to adapt to change.

No one is required to recruit. We are a mortgage company, not a recruiting company. It's just extra icing on the cake if you want to be able to do it and earn overrides on your teams production. Also I am not just a recruiter. I book loans just like the rest. In this market you cannot depend on recruiting only. You have to produce.

In closing I post on this forum b/c of the misinformation about our employment opportunities are clearly false and it seems that your motive is to discredit us, which we will not sit back and watch happen. I care about my Company and it's not fair to the potential employees that read this.

Kyle D. Zotter
National Sales Director
Amerisave Mortgage Corporation

Kyle, the fact that you cannot have an intelligent conversation with someone who disagrees with you, and instead resort to calling everyone here liars tells alot about you and Amerisave. Kyle, I was lied to by an Amerisave recruiter. I was told that I get an hourly wage, that I should "get ready to make $8-$15 K per month". I quit my job with these things in mind. Later finding out by the Funding Reports & Weekly App Reports that very few are achieving these #'s. I presume that the amount of time you spend on these message boards is a direct reflection of your desire to recruit, as you continue to post your phone and email to anyone who says they have an interest. I highly doubt you are on this message board to protect your company, its simply to make money. I have seen your postings all over the internet, including the Broker Forum. Time and time again you have been asked to provide proof of your claims, and not once have you delivered. That says it all.

The fact that you continually post misleading information is the reason I am on this forum. As I have said before, we do not release proprietary company information. Call up BOA and ask them for their numbers and let me know what they say. We have plenty of lo's making well over 15k per month and I would be more than happy to prove it to you if you contact me directly. The only reason I can think of that you did not do well here was b/c you were not applying yourself. Deals do not fall in your lap anymore. You need to work hard to get them. Don't blame us for that. And you are paid a minimum wage salary that is deducted from future commissions.

I love it - "you are paid a minimum wage salary that is deducted from future commissions".

Kyle - would you mind explaining that to the California Labor Board?

I'll make sure I keep your explanation, to give to the lawyers once the class action lawsuit hits.

It's called a draw. It's a normal procedure in our industry.

Ok Kyle, Im going to give you an "A" for effort - you are definitely a true Amerisave diehard.

So why dont you tell us.

As of this month June:

What is the average # of apps taken per week by the Inbound Team

As of last month May:

What is the average # of funded loans per month by your Inbound Team.

What is the average monthly $ income per loan advisor for the Inbound team.

No names, just averages, any good recruiter would offer this information to a potential candidate.

Lets hear it Kyle.

wow.... this is the longest Zotter has been without a comeback..could he be working? naaahhh... stumped.. you know it!

jose jose in Costa Mesa, California said: I mean really Mr. Zotter, who came up with these titles? "Executive Field Director?" Why not use "diamond" or "emerald" like AMWAY or MARY KAY do? It is the same thing. MrVicino must be a Super Executive Senior Field Director.

That "payroll fee" sounds like an MLM payment fee to me.

I'm not surprised figures have not been posted. Business is down significantly for every player in the mtg and re biz. The old rule still applies: 20% do 80% of the biz. The pie has just gotten alot smaller.

Wait til rates go up this year! Inflation is running much higher than Mr Bernanke wants. He has no choice but to raise rates. High inflation means high long term rates. Higher rates = less biz.

Look for bank failures, tighter money and more layoffs in the financial sector.

I have talked with Kyle before and he has been drinking the company punch. He will provide you his submitted numbers. It is very easy to get the system to show those figures. It is entirely different from the funded numbers. Let's see some check stubs or direct deposit statements. Amerisave constantly changes the rules, you receive emails every few days changing costs for leads, software, credit reports, etc.

abane in Chicago, Illinois said: I have talked with Kyle before and he has been drinking the company punch. He will provide you his submitted numbers. It is very easy to get the system to show those figures. It is entirely different from the funded numbers. Let's see some check stubs or direct deposit statements. Amerisave constantly changes the rules, you receive emails every few days changing costs for leads, software, credit reports, etc.

I've notice that (changing rules/ payroll delays) elsewhere. They are all scrambling to keep their heads above water. Like rats leaving a sinking ship. No stability. This industry (mtgs and real estate) is on life support right now.

2008-06-13 — signonsandiego.com

Quote:"Rates on 30-year mortgages jumped to the highest level in nearly eight months, reflecting increased concerns that the Federal Reserve might be preparing to raise interest rates."

"Thirty-year fixed-rate mortgages rose to 6.32 percent this week from 6.09 percent last week, according to Freddie Mac's national survey. It was the highest level for 30-year mortgages since they averaged 6.33 percent for the week of Oct. 25." Quote

Don't take my word for it ! Higher Inflation = Threat of Higher Rates = Less Biz. Keep the Oxygen on Full Blast!

2008-06-13 — blownmortgage.com "Effective today Countrywide wholesale will no longer offer the Non-Conforming Fast & Easy document waiver program. Fast & Easy is Countrywide’s version of stated income. Non-conforming loan amounts will no longer be eligible for stated income regardless of credit score."

Oh well another program goes down the drain.

Stage Two of the MTG Collapse -
2008-06-14 — doctorhousingbubble.com

blah blah blah.. shut it!

Coldblood in Northridge, California said: blah blah blah.. shut it!

go-to.realtor.org/r/269UBM/M906X/43PRX/678J0/GE3HF

Coldblood in Northridge, California said: blah blah blah.. shut it!

See, y'all don't think out of the box. You're just try'in to do the same old same old. You're frustrated! You're tryin to eat off a much smaller pie. The game has changed People!

You don't have a clue how to make the pie bigger! Very few do. Don't ask me how. Cause I'm cashing in first.
You don't want to spend the time educating youselves to current mkt conditions you just want to do biz as usual. No creativity! LOL

Let's call as it is alright in this biz?
You're a dime a dozen LO offering the same thing everyone else is. Your rates aren't any better. You take an app that they have given to several others. They will take the best deal.

So when we hear from several sources LOs are taking 1-2 apps a week they will fund what? 10%? There's competition. There's appraisals that don't come in. There's buyers remorse. They can't qualify. And on and on. So this whole idea of 50% closing is wayyyyy too high!!! That's what they want you to believe.

1-2 apps/wk X 10% funding = one deal a month. And that's why you don't hear from anyone that got into it a couple months ago. Unless they are recruiting others and not producing themselves! God bless em.

I want to thank everyone for their thoughts and comments. I can see that many people have valid concerns and comments on both sides of the AmeriSave discussion. As for myself I am considering working with AmeriSave if they are serious about supporting training efforts for my team. IE: Conference calls with my team, their input in my own training materials, and further developing their in house staff, as well as my team (should I choose to develop one).

As a Sales Person and former Call Center Trainer and Supervisor I think what this company needs is to establish some quality training, that can be duplicated. The website training is not something I have seen yet but I think that any training can be improved upon.

If you do look at the complaints about AmeriSave found in Google on Rip Off Sites and the like, it seems mostly to be related to poorly trained staff (these recruited but unsupported agents in the field). One sites someone saying they were not refunded the $395 fee when they did process a loan through AmeriSave however it is refunded per their contract when you do complete a loan. So that to me just spells out that the agent in question was clueless and talking off the cuff.

In this industry 80% of todays Loan Officers/ Brokers will not be in the business in 24 months. So the turn over rate is about 20% higher than some other forms of sales. You can easily limit that with good training, support, and leadership.

I do not know anyone at AmeriSave, I have not gotten to that point yet. However; I do have some programing skills and a great deal of websites online that I have designed as well (hobby/ second income) their front end is nice and well programed. It also should meet the discloser requirements coming down the pipe in the next 24 months or so.

As far as the back end goes I certainly understand the gentleman from CA Jose- I believe sorry I am not going back to check for your screen name. I understand your concerns.

Further from the last-

I would also say if you are frustrated with following up with something missing in a file and you are making 10K plus please hire someone right away and pay them 2k to do that for you.

If you need an office look at the many office situations where you can rent a shared office environment in an office building. This keeps your cost lower, and would allow you say a 400SQ ft unit cheaply, and nearer your home.

At the end of the day if you can sell, and want to learn to close better, in my mind it will be about whom you chose to work with. Jose Jose, it really sounds like whomever recruited you did not know what you expected or needed from them. You feel you were sold a bill of goods and you still have the receipt in hand, but not what you thought you payed for invested your time in, and so forth.

I hope you have found something that works for you as before this posting kind of went left of field (with people bloging in response to others comments and concerns only) you had some very important things to say and share.

It seems clear to me from the outside looking in that the company has had a problem processing the paper, or funding. You have said it, others have, and the company has. They have hired more, and they are training more, which is good. Hopefully they will learn from their Jan-Feb problems and not only staff up but train up and invest in experienced staff. Perhaps they can add a few trainers/supervisors more to support their new hires. This with an open door policy that encourages their paper pushing professionals, to ask for help and tips should help them a great deal.

This industry is going to explode guys. The Government says this field will grow at about 11% Nationally, however I feel that they simply do not understand the growth that will occur.

Consider Refi, Reverse Mort, Commercial lending, Factoring, and many more directly related lines that are and can be added to this AmeriSave model. It will be huge!

Ok my last post unless someone has comments or questions for me.

I talk for a living so these little post boxes are killing me.

Yes higher rates will come, gas will be $5 a gallon, and we will see food prices rise at least another 30%. Will there be less home loans for a few years? Certainly possible especially if we get the wrong President, or leadership in Congress.

However that by no means would mean that you have to make less money. At that point the reverse Mortgage business will explode!

So I think a good deal of your future will depend as it always has in sales, on your attitude, training, and ability to think on your toes. If anyone is considering working in this field consider strongly that you will need to be willing to learn and adapt. In sales you must be able to adapt and overcome. The person you most have to overcome is not the caller, or your lead, it is you. You who have preconceived ideas, thoughts and emotions that are getting in your way. You simply most focus on the basics, smile while you talk on the phone (for your tone) try keeping a small mirror near you when you are working and look at it while you talk to your clients. Be honest at all times (that one will cripple your competitors over time) people need to trust you like the brother they never had, to refer you to others. Never let greed or your desire to pay a bill or get a toy cause you to lie, cheat, or steal. Integrity is the most important thing in this business.

Sure it's a numbers game but the only ones that last are the people who are honest, kind, and caring. You can only fake those things for so long, when you are a person of low character it will show up, I promise you.

As a sales supervisor or trainer I have listened to most sales people bend the rules, blur the lines, and cheat (themselves & others) in many areas of the financial World. Be one of the 20% that do the right things and win!

Seriously, I have to say you have WAY to rosey of an outlook about this whole situation. Jose Jose is by far not the only one with valid points. And your comment about shared space, CANNOT do it, against company policy! About hiring someone to do processing...come on, you can't! You do not have access to your files to hire someone else! They have in house processors and youare not suppossed to have customer fax you anything personally , is my understanding and you can't SUB-contract someone esle to do EVEN more processing! The front end is great the back end SUC's from everything I have learned thus far. It has nothing to do with poor training, or not being able to sell. As far as what they tell you during the webcast, they oversell you a bill of goods, period. In every company there will be top producers, granted however the average will still make good money and the above average even better, the average here here appears to be NO WAY near what they show you in the webcast as evidenced by the few sales reports posted here previously. Also all that business about setting "YOUR team up with conference calls and training and so forth" please give me a break that doesn't matter to them and you won't be any more special than any other top producer that came from another company and has 10-30 people on their team, thats not how it's done here! You are confusing this whole set up with what you would envision one of the Power players to run this type of company if they were to go this route, say like GMAC or BOA, get a grip this is not them! I am not terying to burst your bubble but soooooooooo many people are coming here and just having this rosey outlook "well if you can sell, then this is what will happen" sounds REAL good to you get in! There are always going to be some negatives and some positives about any job you take in todays market HOWEVER, when you have as many as are being reported from people ACTUALLY working there with nothing to gain by warnin

continued

by warning you (and please don't fall for the line that they are their enemies and trying to recruit for another company cause thats just bs what other company employees have the time to constantly come here and bash Amerisave! Give me a break, futhermore, why aren't they leaving all kinds of info about contacting them AND THEIR company if that were true?) since some of these people actually worked there! As far as the $395 is concerned their are plenty and I mean plenty of compliants from consumers calling in that NEVER went through the appraisal AND cancelled the process months ago and are STILL waiting for their credit card to be updated, again my friend is a straight shooter and has absolutely nothing to gain by lying to me (and he said he has gotten a few calls like that as well as other co-workers he contacted) in fact he wanted me on his team so he could actually earn from my sales but he has since told me to hold off. He has not quit because he wants to try to make it work however, he refuses to recruit for the simple fact that you cannot burn bridges with people in this industry; it's much to small and you never know when you have to come back to someone so with that knowledge, he does not want his recruits coming back to him saying what kind of bs have you gotten me into! If and when he sees the potentialy REALLY pan out, then he will recruit. I trust his judgement ANd I have read through many blogs again JOSE Jose is just the tip of the iceberg. Look up a name, a randam name and call the rep and ask them a few questions. At first they may think its a set up but once they feel comfortable, most will be upfront an honest about how it really is working there and I guarantee you the no#1 complaint will be processing and lack of support, period!

I am so interested in pursuing a Mtg/REAL ESTATE AND WOULD APPRECIATE AS MUCH INFORMATION AS POSSIBLE. I attended a webinair about 4 months ago.I also live in Colorsdo,in the Aurora area so I am in a position to learn as much as you are willing to share so I can make the best decision on starting this business

Closing Loans in Colorado in Parker, Colorado said: I have been invited to join the ICC at amerisave, but I'm passing because I feel the real way to make money here is to recruit as many LO's as you can. The only problem with that is that people are going to stick around making 3-6K per month. Why would anyone stay in this business for that kind of money? I was looking around because my company does provide the internet leads, we just have to call them instead of the transfer. It takes a little bit of time, but the pay tiers are a lot better than amerisave. I personally put up 43K in revenue that pays 50% of that out to the LO. I would challenge anyone at amerisave to show me what the top 20 producers made last month at amerisave on thier own production. I asked for it and was given numbers from 2005 and 2006. The joke of it was, that those numbers really didn't match up all that well. I have to take the file from start to finish with my company, but it actually works as I'm able to close FHA files in 3 days and conforming in 5 days, that is no crap, I will be happy show submission cofirmations and HUDs to back it up. Our tiers are very easy to understand, You make 30% of your revenue(fees and YSP) from 0-9,999, 35% 10K-19,999, 40% 20K-29,999, 45% 30K-39,999 and 50% at 40K and up. I was 4th in the company last month at 43K in fees, the top producer, also in my office did 68K in revenue(no joke, he just took home a 34K check). We have branches across the country. Let me know if you want to join an industry leader instead of becoming a professional recruiter. If you want to do that, the medical field pays a lot more than the mortgage recruiting world

I live in Aurora Co and have limited experience in mtgs.6 month with Benficial mtg but am interested in a career change.Does your company hire relatively new folks? I have been a retirement financial consultant for tiaa-cref FOR THE LAST 3 YEARS.

since many of you are looking to replace your lucrative incomes and I did recruited several people from your industry who used to make $400,000 to a million a year, and now its bad, here is an incredible opportunity for you where you can make multiple six figures your first year:

naa.tvheaven.com

call me, it will be the best call you ever made

Dali

Thank you both Jose and Thomas for your comments and thoughts.

I hope you have found something else Jose because you just sound burnt out and POed.. I understand it been their done that myself before. You have my concern and understanding.

As far as looking at the World through rose colored glasses, maybe I do at times because I have learned the power of mental focus and how it impacts ones life, especially in sales.

However; I as you can see have not joined this company and I too am concerned with the back end, and the lack of training shown by this company, in the past (and possibly currently -I don't know I do not work for them).

I can say when a company admits they dropped the ball like they did in Jan-Feb that makes me feel better, than someone who is just lying 24/7. I have run several companies and I can say as a small company CEO (sub 50 staff in each case) that rapid growth is very hard to plan for, or deal with. This company has exploded so that could explain problems. Jose you said in your early posts that the staff was nice and friendly in nearly every post. Yet you cited (which seem supported by the companies comments itself) that they dropped the ball on the back end.

I hear in your messages that you are done with them, mentally and you no longer share the kind professional thoughts, and are just mad as heck. I wonder though if you had 6 months away what would you say about the company and the experience?

Do you know what I mean?

If you can (may be very hard) step back from this situation for the benefit of others and give some more perspective I know as a professional your thoughts would be useful to me and others, given a larger perspective, apart from your understandable anger, mistrust, and other current present day feelings.

Side note Jose, Thomas and others I really do value your thoughts and comments and thank you for taking the time to respond and participate.

Again, Some are JUST ARE NOT GETTING IT! No one (well I guess I can't spesak for JOSE) is "mentally tired" they are just telling the truth! Why is it automatically assumed that when someone is warning you and BACKING up everything they say with why they are saying it, it is just easier to say step back and be more objective? Sometimes it is what it is; THE TRUTH!

As far as them admitting they dropped the ball, are you familiar with the attitude I will pick out my shortcomings BEFORE you do that way you have no ammunition? Thats all that was, even after hiring more it means nothing if you you are continully hiring 100's of people at $395 a pop. You are right back where you started!
It has nothing to do with being burnt out but it has everything to do with if you have been in this profession for any lenth of time and if you have worked for any of the Power Players at some point or heck even for a well run broker shop and then you go there, it is a RUDE awakening! And I am not just talking about because rates are higher or appraisals are coming in low or anything like that! If you were in this business in the 80's rates were at 11% but you still got it done so as Dale Vermillion would say rates don't matter BUT the company you represent DOES!

Rapid growth is not an excuse for poor back end infrastructure! And when you are closing loans thats ALL that matters. Everyone has plenty of loans fall out during their career so I'm pretty sure anyone who works there with experience can tell the difference if it's just the normal losses or something more. Additionally, being away for 6 months or even a year won't change the fact that a company did not deliver anywhere near what they proclaimed to be able to deliver. If you have worked for any length of time in this business you don't even need 1 DAY away to determine if ANY company is not operating correctly and is not on the up & up!

Side note: you seem to know and have done a LOT! From running companies, creating software, being CEO, publishing MULTIPLE books in 1 year just to name a few; by any chance did you also act in movies, become a millionaire on the stock market and run for the presidency? Seriously it seems a bit much and I didn't even list EVERYTING that was stated that was done.

Well Thomas again I was not trying to ring my own bell.

Yes, I have done the things I mentioned. I have ran my own businesses most of that since I left the corporate World working for a Sub- of Berkshire Hathaway, which was a Fortune 500 Company.

I started 3 companies 2 that worked together in a related fashion in the Mortgage field, and I was a licensed insurance agent. Now I could say I was licensed in 44 States to sell Property and Casualty Insurance and to those not in Insurance that sounds like B.S. right? Well all but one license is reciprocal so if you are licensed in one state you can for 46 States (I only needed and held 44) be licensed for a fee and a application be lic in the others. So while it might sound impressive heck its not.

Setting up a corporation now in most States requires from $140-$200 for an LLC which all but one of my companies was, or is (two still operating) I sold two. One as a shelf company, and one through a business broker for capital for a new effort.

Thomas I understand your thought that I must be BSing but I am not just sharing thoughts as I thought about AmeriSave.

As far as publishing books one of my little companies can help you do that if you ever want to publish a book. If you self publish via print on demand you can publish a book for nearly no out of pocket. Example: Online sites that print on demand for you and only charge a set fee for each book printed. Then you can get an ISDN and have your books available on Amazon, Books a Million and the like as well for a fee. As for myself I just sold them from my website(s), on eBay, and from Consulting / training events that I have worked.

If you teach or train anything these days and do not have a backend set up (book, video, CD training package) to sell at the back of the room or at the end of your time, you are missing out on 75% of your profits. So why not write a manual and have 25 copies ready to offer to anyone that wants to learn more?

So while I understand your reservation I guess because you perceive what I said was showy or sounded crazy, you chose to attack me a little. Well don't worry I won't take that to heart.
In every note I have thanked you and Jose for your input and thoughts, and I mean that. If you guys save me from a few hundred thousand dollar mistake (overtime mind you not overnight) your thoughts will have meant a great deal to me personal jab or not. IN PLAYFUL RESPONSE TO YOUR JAB LET ME SAY

As far as acting no, Presidency no, creating software I don't think I said that maybe I did, but I do have websites, software, and books. To create a software program you only need to discover a need (sit and think for 20 mins) hire a programmer off of a freelancer site (if you do not have one working for you, or can not do it yourself) {this can take 2 weeks of reading bids and quotes} then wait and email back and forth until you have the program.

I self edited out a portion where I explain more about me here but that is pointless, Thomas if you want more on me you have my name look me up. Or if you want to buy a book, or get one signed even I would be happy to do that for you.

Again as I have said in every post I believe I am thankful for the feedback from you Thomas and Jose, and others. I think that is a great thing that you are giving your two cents worth.

However I do not want anyone to get the idea I am saying I am Mr. Wonderful, I'm just me.

My side note was just that...a playful jab. It's not unsual for people to have done MANY different things in their lifetime, just thought it was pretty funny that you mentioned so many.

Again sometimes people have to go through the expense and headache themselves (and the loss of time and effort) to find out for themselves even with a heads up, ie. my friend did it and is giving 100% but ask him and others (as I said find a random few names, visit their website and ask them most will be honest after a little reservations). Some will say oh they just didn't git it their all or better yet they can't sell however, these are people who were top producers or at least above average in even tough markets.

ATTN: Amerisave Recruiters!!! New Meat Available!!!

Flash: Washington Mutual plans to lay off hundreds more!!! Go get 'em guys!!!

"The bank, which saw a loss of more than $1 billion in its recent earnings report, said in April that it was closing its 186 home loan centers nationwide, laying off 3,000 loan officers in the process. That included employees from 23 home loan centers scattered across Washington"

Funny how come Amerisave stays solvent and adds people when huge banks like WAMU can't originate enough in this bum market, which is the worst since the Depression, and has to lay off thousands. HMMM... $395 up front fee anyone???

Actually it's a $350 REFUNDABLE licensing fee. You are NOT required to pay it to originate loans with us.

Credit cards are charged $395 and they are ONLY refunded if you close three loans and from the message my friend quoted me (again, I have not signed up yet due to his heads up) it said it would be a CREDITED to your account. Since they want you to have some money in your account; for outside sales to make your purchases of leads and run credit reports and for inside reps, they STILL request you have money in your account to cover credit pulls for purchases, since you are not getting the upfront fee of $395 from purchase borrowers so guess who they want to incur the cost? You guessed it, YOU!

For anyone who doesn't make it pass 60 days inside and close 3 loans, kiss it goodbye. Some will realize within 30 days or less that it is not worth ANYMORE time or EFFORT and decide to get a job right away just to make sure they can pay their bills and put food on their table. Now it sounds like at first blush this should be easy to do, especially if you are used to selling internet customers or warm transfers (even though they are no longer warm transfers) and you are an above average producer previousy, guess again!

Kyle D Zotter - National Sales Director in Altanta, Georgia said: Actually it's a $350 REFUNDABLE licensing fee. You are NOT required to pay it to originate loans with us.

I got you Kyle.. Big time. You just screwed up!! WE, AS EMPLOYEES OF YOUR COMPANY, DON'T NEED A LICENSE TO ORIGINATE LOANS!! WE OPERATE UNDER YOUR LICENSE!!! DO YOU EVEN HAVE A LEGITIMATE LICENSE TO ORIGINATE LOANS ANYWHERE?

I think you orignally said the fee was supposed to be for SOFTWARE? Isn't that right? Now it became a LICENSE fee which is totally bogus. You can't grant me a license in any state! You don't have the
authority.

We've got you now. All you can say is you made another mistake!!!
If I want to be licensed I have to go before those divisions of banking in the states I want to biz in!

You made a big mistake and didn't look at my background in my first post on this site. I know what I'm talking about.

This just proves to everyone the fact that this is just another company looking to take your money and your time.

It's the software licensing fee. You must be confused. Relax.

Kyle D Zotter - National Sales Director in Altanta, Georgia said: It's the software licensing fee. You must be confused. Relax.

You wanted you to put that in writing. I'm definitely relaxed, unlike you. You were vague in your reply. You just said "license". Now you have fallen into my real trap. You see, it takes a con to know one.

Tell us who owns the software. Who am I going to be paying? And also according to Thomas you charge for leads and to run credit and then you take a payroll fee. Bunch of fees guy!!

But lets get back to the software fee. Who do I pay it to? Give me the name of the company and don't tell me you collect it b/c then we will all know it's bogus!!

[QUOTE who="Thomas Guest in Phia, (edited for space- Anonymous) Credit cards are charged $395 and they are ONLY refunded if you close three loans and from the message my friend quoted me it said it would be a CREDITED to your account. Since they want you to have some money in your account; for outside sales to make your purchases of leads and run credit reports and for inside reps, they STILL request you have money in your account to cover credit pulls for purchases, since you are not getting the upfront fee of $395 from purchase borrowers so guess who they want to incur the cost? You guessed it, YOU!

For anyone who doesn't make it pass 60 days inside and close 3 loans, kiss it goodbye. Now it sounds like at first blush this should be easy to do, especially if you are used to selling internet customers or warm transfers (even though they are no longer warm transfers) and you are an above average producer previousy, guess again!

Good point Thomas-
Your quote! "since you are not getting the upfront fee of $395 (for the appraisal- I assume -Anonymous -clarification!) from purchase borrowers so guess who they want to incur the cost? You gues