• Report: #359170

Complaint Review: Jacob Eckard

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  • Submitted: Mon, August 04, 2008
  • Updated: Fri, September 12, 2008

  • Reported By:Sacramento California
Jacob Eckard
2335 American River Dr. Sacramento, Rancho Cordova, Folsom, California U.S.A.
  • Phone: 916-834-0428
  • Web:
  • Category: Loans

Jacob Eckard (Morgan Financial, Ameriquest, Other Companies) This so called "family man" lies, cheats, and steals to get his hands in your pockets. Sacramento, Rancho Cordova, Folsom Nationwide

*UPDATE EX-employee responds: To Get Paid... You Must WORK!!!!!

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I first started working for Morgan Financial about one year ago full time as a loan originator. I had no experience and had a record, but they hired me anyway and told me I would be perfect for the job. They said I would be paid money for each loan I originated by cold-calling. I was perfectly fine with this and started to see the business flow in. Although I saw plenty of fraud (people signing loan documents w/out power of attorney, people bait n' switching, etc.) from the get go, I figured as long as I'm honest, the business will come and I will be making decent money for a nineteen year old. But that never happened. I soon began to realize they never wanted to move me up to actually doing my own loans, they only wanted me to do their dirty work. They paid me under the table as well, odd for a bank and financial institution. I was working for a man named Jacob Eckerd. He was always very friendly and kind and I definitely trusted him.He was a family man and was always working hard. I soon began to see that he was just as bad as the other employees. He would lie to borrowers just to get a shot at doing their loan. He would charge elderly or uninformed people up to 5 points (5%) of the loan amount! that can be around $15,000 on a conforming loan! Once the subprime market collapsed, the company started not doing too well and shut its doors. But I had good loans (fixed rates, minimal points charged) going through Jacob that were signed and funded (meaning he got paid). I have since (for about 6 months) been trying to get my money that I worked hard for and he did nothing for, but he refuses to give it to me, tells me to let it go. He basically robbed a struggling college student. This man is also very well off while I was living paycheck to paycheck. He now works for another mortgage company in Rancho Cordova, CA. If you are working with or refinancing with Jacob Eckerd, then I would highly recommend that you find someone else. He doesn't seem to have a conscience and will rip you off in a heartbeat. Just so you know, this is not in any way revenge for what he has done to me. My only goal is to inform you consumers to steer clear from this low life con man posing as a mortgage banker/ loan specialist/ branch manger.

Chapman1
Sacramento, California
U.S.A.

This report was posted on Ripoff Report on 08/04/2008 05:47 PM and is a permanent record located here: http://www.ripoffreport.com/r/Jacob-Eckard/Sacramento-Rancho-Cordova-Folsom-California/Jacob-Eckard-Morgan-Financial-Ameriquest-Other-Companies-This-so-called-family-man-l-359170. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 UPDATE EX-employee responds

To Get Paid... You Must WORK!!!!!

AUTHOR: Lilly - (U.S.A.)

In the mortgage industry, if you dont work, you dont get paid. It is that simple. This is not rocket science here. I worked with Jacob Eckerd for over 2 years, and I have NEVER once seen, or heard of him "ripping off" an elderly person, or an "uninformed customer". I remember you, and all of the time that you wasted screwing around and playing in the office. I didnt even work in your branch and I remember you; not because of the work you did, but rather the work you WERE NOT doing. Did you really think that he was going to hand you a pay check for playing basketball all day long, or surfing the internet? I'm sorry but there are a lot of other "starving college students" out there that made money and WORKED HARD. I guess they were the ones that were smart enough to actually pass their classes. You have no clue about anything that has to do with the mortgage industry, especially if you were only there 6 months.
Jacob has worked from the ground up. He started as a loan officer, proved himself and then was promoted to manager. If you "screw" that many people, you are going to get complaints. Why would anyone in their right mind promote someone with a ton of complaints? To top it off, 75% of his clients were referrals from previous customers! Now how would that be possible if he was this horrible con artist that you say? He gave you an opportunity that most dont get and you turned it around and tried to use it against him.
I think it might be wise for you to think first before you speak. Blasting someone's name across the internet, and accusing them of things that you have no idea about is not a good idea. You are trying to mess with this man's life and livelyhood, over something that you have no knowledge of. Before you go blasting someone else, make sure you know the facts first. It might be beneficial for you to stay in school.
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