Republic Mortgage - Tony Gamarra Anthony "Tony" Gamarra Anthony "Tony" Gamrra Murray, Utah

Dear Hate Monger,

We have read your vindictive, irresponsible, and out of control rantings. You are one hateful, angry, vengeful person. 

There are five (5) concerns that you should have had the presence and state of mind to comprehend and understand, beforehand.

1. You don't know me, you don't know anything about me. You don 't know my character, who I am or what I'm like or anything else about me; nor is it any of your business, and you have NO right whatsoever to do what you have done.

2. And if you knew anything about Republic Mortgage; you would know that they are the premier mortgage lender in the state and perhaps the entire country; and I'm talking about character, ethics, human relations, moral turpitude, and a genuine caring about employees and people in general. The entire company enjoys a genuine family atmosphere, and is top notch, bar none!

If it were not for Republic, I would have left the entire industry….I had experienced enough of greedy investors and selfish uncaring brokerages, in an upheaval industry.

3. I have gone through my closing records to 2001 and have found no record of you or your loan detail as you have outlined it. I think you are someone with a separate vendetta for whatever reason, but I do know the business, and I know that some of the information you stated is not practical, and some of it is highly improbable if not impossible….and why oh why, would you wait 5 years to finally bring this malady up, even if it were true??? There are things a person can do if the terms of the loan are not as written or agreed. A person can ask the closing agent for a delay or postponement,  walk out of the closing, or call your realtor and tell them what is happening, (go to their original bank), or talk to a couple of other lender managers  then after establishing with a different lender, demand and pick up their file from the first lender and get the show back on the road, particularly if it bothered you so much that you would be as vicious and irresponsible after (5) years. I have pulled my own clients from closings because of  incorrect terms from investors, especially back in the early to mid 90's. I know the real truth is not being told. There is more to your story then you are admitting!  You knew how to contact me. Surely you must be tired of the hate and anger by now, along with all the damage to your health and brain because of the venom. 

  (a.) You didn't mention the second mortgage as being a problem, but I can see the rate calculation on a $399 payment for a $64,800.00 second mortgage in 2005 as you stated it, was and is not possible on a second position loan for a purchase.

  (b.)  You stated that you had to call me from the closing table…..The fact is that I have never NOT attended any of my closings. I would have been right there with you from the start.

 (c.)  Unless my clients insist on an "interest buydown"I never advise them to have one because it never pays back unless you plan to stay in the loan for at least 5 to 7 years. Why do it when you can refinance on a streamline when the rates drop. The broker makes nothing on interest rate buydowns; to the contrary, it costs the broker.

  (d). Offering you a no-closing cost or 0 points loan is not possible. That's how we're paid! I would have made no money, and I would have had to cover your title fees, etc., out of my own pocket….how silly! Make no money, but still pay for YOUR fees…'it would never happen, and no one but a bank would offer a no points loan because they still build the so-called no-fee loans into the loan interest rate, or they just charge you up front for them like everyone else.

4. Rates change daily, and one day's cost is another days loss. If you wait and don't move, you lose, and that is the banks gain, not ours as brokers. Your actions and meanness are pure and total cowardice, sneakiness, vicious slander and character assasination. How dare you point the finger at anyone for anything in such an outlandish and totally unacceptable manner!  You are not as protected by the veil of your hate site as you think you are.

5. You have crossed way over the line with your viciousness and attacks.  If you consult a competent attorney or your religious leader, I am sure they will advise you that you have placed yourself in a legal position of great financial liability because of your "over the top" vindictiveness. If you do not immediately remove your hate mail, print an apology, and move on with your life. I will have an attorney seek a court ordered removal of the veil of secrecy you have hidden behind to vent your anger & vindictiveness to perpetrate your out of control rage; and a civil suit will be filed against YOU that will have your attention for years to come.

Wendy,

You have stated "all we know is he did rip off his customers as I am one of them and I know several other customers of his he did this too." Where are the other customers Wendy? According to the rebuttal below, Mr. Gamarra never even held you as a client.

Haha, in fact, the points made in the rebuttal make it appear that YOU don't know the business as even poor brokers wouldn't commit the blunders you've outlined -costing themselves money. While is it obvious you know something about the business to sprinkle some lingo, your ignorance discredits you.

There has been a strong rebuttal by the accused. Even better I did a quick Google search of the story you've posted and guess what?! Look familiar?:

"In early October 2005, I found a home I wanted to purchase in New Fairfield, CT. The realtor I found the home through recommended a mortgage broker by the name of Joseph Cilento (AKA: Joe Cilento). I was doing 100% financing on this new home because I had not sold my existing home yet. I was doing this 100% financing by completing an 80 - 20 loan. This is where you get 2 loans, one regular 1st mortgage for 80% of the homes value and another 2nd mortgage for 20% of the homes value. I was planning on paying off the 20% portion as soon as I sold my old house. The problem I had was with the the 1st mortgage 80% home loan portion.

I spoke to Joe Cilento by phone and he informed me that I could get a rate of about 6.25% on my 30 year fixed home loan with no points. I told him I wanted to get the rate under 6% and asked how I could do this. He suggested I pay 1.25 points to lower the rate to 5.875%. The 1.25 points would cost me about $3,420, but I thought it was worth it to lower the rate. I asked for this information in writing and he sent me the following email:

Todays rates for your loans are as follows: purchase price : 342,000 1st mortgage : 273,600 80% , monthly pymt = $ 1,618 2nd mtge : 68400 20% , monthly pymt = $ 399 taxes and ins ( est) = $ 450 total 342,000 100% $ 2,467 1st mortgage : 5.875 % , 30 year fixed , no prepayment penalty. Points are 1.25% based on a 20 % second mortgage . Monthly 2nd mortgage fixed 7.5& with 1 point or variable at 7.0% with 1 point. If you put 5% down payment , the points on the first mortgage are reduced to .25% Let me know if you wish to proceed. Joe Cilento 203-994-6087

I was also speaking to another mortgage broker who offered me the same deal, but I decided to go with Mr. CIlento and his company American Financial Resources (AFR Mortgage) because I had spoke to him 1st and I thought it was fair to give him the loan. I forwarded my information to them and began the loan process. I was told my rate would be fixed at 5.875% as per our original agreement. I filled out all the necessary forms and was in constant contact with the lender about the loan. The entire time, I was told that verbally my rate was fixed at 5.875%. I received my closing estimate documents which again stated the rate of 5.875%. I had every reason to believe everything was fine and just as had been discussed previously.

The whole thing changed when I got to my closing on December 1st. I saw the rate had changed to 6.25%, which I was originally told was the rate I could get without paying any points, except the were still charging me the 1.25 points ($3,420). I was of course very upset about this and called Joe Cilento at the closing. He informed me that I had never locked the rate. I told him that he had repeatedly told me the rate was locked at 5.875%. Basically he back tracked and lied and said he never said that. They raised the rate .3875% and still took the points. Unfortunately, I had no choice but to close on that day or I would have lost the house, plus I had already paid the movers and arranged for someone else to rent my old house. I had to close that day. My lawyer informed me I should take it up with the Connecticut Department of Banking.

I did write a letter to the Connecticut Department of Banking and they began to research it. Richard Dubnoff the CEO of American Financial Resources repeatedly lied to them. 1st he stated to them that I never locked and was therefore locked at the market rate on my closing. I went back to the Department of Banking and explained about the points and sent them my email correspondence with Joe Cilento. I then asked why would I pay them almost $3,500, if I was going to get the regular market rate anyway. The went back to AFR Mortgage about this and Rich Dubnoff responded in a letter that the $3,420 was their profit on the loan, even though the closing documents clearly state this was a "Loan Discount fee", separate from their "Mortgage Broker fee" (about $600 more). Why would I possibly pay $3,420 plus the $600 to a mortgage broker just to get a loan when any normal broker charges probably around $500 - $700 total. Unfortunately, the Connecticut Department of Banking said there was nothing they could do because it is my word against theirs and I didn't have a written lock rate document.

I agree that I was misinformed by not requesting the written lock rate letter, but I honestly didn't even know I needed it. This is only the 2nd home I ever purchased and the first loan I did through my bank, so there was none of this deception or fraud. Of course in the future I will always get this letter, but that is still not a good reason for them to bait and switch, lie to me and the state department of banking and rip me off for $3,420."

-Found on (((ROR redacted)))

Looks Like Wendy is a liar...