• Report: #177856

Complaint Review: Randall Smith - USAMP - U.S. Association Of Mortgage Processors - MBX - Western Mortgage Group

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  • Submitted: Fri, February 24, 2006
  • Updated: Tue, October 03, 2006

  • Reported By:Chatsworth California
Randall Smith - USAMP - U.S. Association Of Mortgage Processors - MBX - Western Mortgage Group
11200 Westheimer, Suite 900 Houston, Texas U.S.A.

Randall Smith - USAMP - U.S. Association Of Mortgage Processors - MBX - Western Mortgage Group of Texas illegally holding CA Broker's funds! Ripoff Houston Texas

*Consumer Comment: I know of a few people ripped off by Randy and MBX....

*Consumer Comment: I know of a few people ripped off by Randy and MBX....

*Consumer Comment: I know of a few people ripped off by Randy and MBX....

*Consumer Comment: I know of a few people ripped off by Randy and MBX....

*UPDATE EX-employee responds: Also filed a report of my own under US AMP

*Author of original report: WE HAVE PROOF AND EVIDENCE - IT IS ALL TRUTH!!!

*UPDATE Employee: Fabrication, Hostile and Volatile

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This report involves Randall Smith of Houston, Texas, Mortgage Broker License#23790, the Director of USAMP (U.S. Association of Mortgage Processors) (800)313-0817, MBX (Mortgage Broker Exchange) (same contact number) and President of Western Mortgage Group (800) 958-3797 - all located at 11200 Westheimer, Suite 900, Houston, TX. 77042. Summary: Randall Smith/USAMP/MBX is illegally holding and refuses to send our Broker's funds for a loan of ours that closed January 26, 2006, and it is almost March.


STORY:
Our California Brokerage had a real estate loan close on January 26, 2006. The loan was processed and closed with New York Broker, Aspen Funding LLC and NY Banking attorney. The reason we were able to do an out-of-state loan is because of USAMP (U.S. Association of Mortgage Processors)- www.usamp.org, which is also MBX (Mortgage Broker Exchange. Aspen Funding LLC, by contract with USAMP/MBX, had the right to hold the funds for 10 days. Despite Aspen Funding LLC telling our Broker "he was sending the funds" every time our Broker inquired, Aspen Funding LLC held onto the funds every bit of the ten days - even breached the contract with USAMP/MBX by holding the funds several days extra - and finally sent our funds (after our Broker called USAMP/MBX to intervene) to USAMP/MBX on February 13, 2006.

While we were communicating with USAMP/MBX, they promised to "not hold our funds" and forward them to us the moment they "get them in hand". However.....

Since Aspen Funding LLC sent them our funds, USAMP/MBX has been difficult with us and REFUSES to wire the funds to us. Despite our efforts, they now refuse to communicate with us and are not responding back to any of our emails/voicemails. They are wrongfully holding our money. They terminated our Broker's contract with them, which disables him from being able to log on to their website - all because Randall Smith claims we were "harassing" him by "repeated" emails and calls. This is not true. When they told us they were wiring over our money, we let things rest. But after a WEEK went by, we started inquiring again. That IS normal, right? Would that be considered harassment? Besides, we would not have had to even EMAIL him, OR call, if he would have JUST SENT US OUR MONEY AS PROMISED AND AGREED. I have a COMPLETE email trail of everything stated here. We were being told they were wiring the money consistently, only to never receive it, and instead receive excuses that they were "having problems with the bank", that an employee received instructions to wire out in the "wrong name", etc. They even sent us an email from some "Banking Manager" on 2/17/06 (the day before the President's Weekend Holiday). Here are several "PROOF" emails (and we have much more), as follows:

-----Original Message-----
From:
Sent: Thursday, February 16, 2006 4:00 PM
To: Tammy Martin
Subject: ?
?

anything?

Thanks,
Michael Weeks

----- Original Message -----
From: Tammy Martin
To:
Sent: Friday, February 17, 2006 7:29 AM
Subject: RE: ?

Michael,
I am sorry, but we sent a wire on Wed. and the wire was never put into her account. The bank is having a problem. We are going to the bank today to find out what the problem is. I just wanted to remind you that we just received the funds this week. I am working hard to make sure that you will receive it by today.
Regards,

Tammy Martin

U.S. ASSOCIATION OF MORTGAGE PROCESSORS
Headquarters: 11200 Westheimer # 900, Houston, TX 77042
DC Office: 1725 I Street Suite 300, Washington DC 20006

Phone: 800-313-0817
Fax: 281-829-0468

Email:
-----Original Message-----
From:
Sent: Friday, February 17, 2006 10:42 AM
To: Tammy Martin
Subject: Re: ?
Who is "her account" and what exactly is going on, it doesn't take more than 2 hours to wire funds, I do it all the time.

This has really turned into a bad experience and based on some of the correspondence I have read between USAMP and other brokers, I first gave the benefit of the dought to USAMP, but that may have been a mistake. Was it?


Michael Weeks

In a message dated 2/17/2006 9:14:18 AM Pacific Standard Time, writes:

----- Original Message -----
From: Tammy Martin
To:
Sent: Friday, February 17, 2006 8:57 AM
Subject: RE: ?

I am sorry, we sent a wire to another member's account and we are having a problem with the bank.Please try to be patient, I have only had the funds since Tuesday and I am working hard to make sure you receive the funds today.
Regards,

Tammy Martin

U.S. ASSOCIATION OF MORTGAGE PROCESSORS
Headquarters: 11200 Westheimer # 900, Houston, TX 77042
DC Office: 1725 I Street Suite 300, Washington DC 20006

Phone: 800-313-0817
Fax: 281-829-0468

Email:

In a message dated 2/17/2006 10:38:56 AM Pacific Standard Time, support@usamp.org writes:

Loan closer is terminated. The agreement is with Mr.Weeks not you. The account is terminated for harassing me and making threats. I balance my schedules with 4 companies and 4 assistants and my agreement state wires are pushed through on Friday, not Tuesday,not Wednesday or Thursday. Tammy was under the impression that I was at the bank for you guys when in-fact I was not. However I am leaving for the bank shortly and Loan Closer will receive your wire as agreed.

Your email will be blocked from USAMP.org as I do not care to get repeated multiple emails from you.

Randy

Sent: Friday, February 17, 2006 5:04 PM
To: Rosa Hawkes;
Cc:
Subject: RE: Wire
I'm sorry the instructions given to my office were to wire funds to the wrong name. It is too late to get this wire re-sent today. This matter will not be cleared until our next business day.
Hector Torres
Assistant Vice President
Banking Center Manager

See what I mean? To date, Randall Smith, USAMP/MBX will not respond to us and is holding our money!!!!!

Our Broker told me that while he WAS still able to log-on to USAMP's website, he found complaints from other Brokers of whom USAMP had done the same thing to. I checked the Better Business Bureau, but there is no USAMP (even in its full name extension) registered or searchable. The Texas Department of Savings and Mortgage Lending has a report of all of this, and reported back to me this morning that there are OTHER complaints filed on Randall Smith as follows:

"There are several complaints against Randy Smith, one remains open and assigned to investigator Justin Accola."

We think they are just flat out stealing our money. It is ours, we do not have it, and they are holding it. These are the FACTS.

We are in California, so they probably think we'll just forget about it. However, why would we? That loan, that client, that money - all belongs to US. No matter what the excuse, they are in the wrong for NOT WIRING IT TO US AS AGREED.

If ANYONE ELSE has been a victim, or is currently a victim of this wrongful and illegal action, PLEASE, PLEASE, PLEASE come forward and speak!!! This man/this company has NO RIGHT to do this to anyone! This is what Randall Smith wrote in one of his emails on 2/20/2006 12:45:44 PM Pacific Standard Time:


"For the record I am no chief and certainly not a big shot. I close my own loans, manage what I can and delegate the rest. I work with many Texas legislators and currently on the ballot for Texas House of Representatives. Early voting starts next week and I have been busy. I maintain and run a tight shop but when someone threatens my integrity they have crossed the line."

Can we AFFORD to have someone like this go on FREELY ripping off unsuspecting Brokers who just want to close out-of-state loans with ease!!!! We have indeed been ripped off! What do we do now - just let him/them get away with this?

SOMEBODY, ANYBODY, PLEASE HELP!!!!!

This is the EXACT role Randall Smith played in this case:

About the Mortgage Broker Exchange (MBX):
The Mortgage Broker Exchange is a division of the U.S. Association of Mortgage Processors that gives a private network of seasoned exclusive mortgage brokers and bankers the ability to capitalize on loan revenue in all 50 states. Adhering to RESPA compliance laws by only assisting in the processing of the loans and working with the state licensed brokers while being compensated for working on the files as a processing assistant and being paid through USAMP.

The Mortgage Broker Exchange (MBX) provides innovative marketing solutions, partnerships and multi-state networking which ensures that our member roster includes the leaders and top producers of processors and brokers in the industry while still providing the most affordable service. USAMP's and MBX's efficiency and contacts allow you to do what you do best: close loans.
Requirements:
Only 4 exclusive brokers* may be approved per state. Each member must be licensed in home state. Only one state per member and members must hold active license and have a minimum of 10 approved wholesale lenders to choose from. * exception FL and CA will allow up to 6 members *stand by members
Membership Fee:
Annual membership fee for USAMP (MBX) is only $395 for the first member of each state and $795 per year to those who sign up afterwards. MBX offers an exceptional return on your investment.
Compliance and Management:
Senior Processor must be a CMP (Certified Mortgage Processor) In-state broker must send certified checks to USAMP. note- MBX members are credited up to 5 CMP processors.
Enforcement:
Any member reported who engages in loan officer activity in a state where not licensed will have membership terminated. Any member who initiates discussion with other member to bypass USAMP reconciliation process will be terminated.
The Process:

1.Out of state Brokers contacts In state broker with loan scenario

2.Members discuss loan. In state Broker contacts borrower and informs that he/she is the loan officer/originator and Out-of state broker will be assisting with the processing.

3.In state broker will discuss rate and term with borrowers.

4.A CMP Processor is chosen by the In-State Broker. Out- of state broker will assist in the processing.

5.After File funds In- state broker sends copy of certified HUD and Fee sheet to USAMP with 100% of fees minus the $695 admin fee.

6.USAMP's independent accounting firm deducts and pays processing fee and $220 USAMP reconciliation fee.

7.Checks are mailed from USAMP to Out- of state broker/member and CMP Processor from USAMP for processing services

HELP US, PLEASE!!!!!!!!!!!!!

Unsatisfied Brokerage
Los Angeles, California
U.S.A.

CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.

This report was posted on Ripoff Report on 02/24/2006 12:03 PM and is a permanent record located here: http://www.ripoffreport.com/r/Randall-Smith-USAMP-US-Association-Of-Mortgage-Processors-MBX-Western-Mortgage-Group/Houston-Texas-77042/Randall-Smith-USAMP-US-Association-Of-Mortgage-Processors-MBX-Western-Mortgage-G-177856. 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.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

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Updates & Rebuttals

#1 Consumer Comment

I know of a few people ripped off by Randy and MBX....

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

I am not an Ex-Employee but in recent months Randy and his company have come across my desk, I know one of them has already initiated legal proceedings. I think he has until next week to pay. It seems like you may be able to help my friends and of course likewise. Was your situation ever resolved?

-A watchdog
USA
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#2 Consumer Comment

I know of a few people ripped off by Randy and MBX....

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

I am not an Ex-Employee but in recent months Randy and his company have come across my desk, I know one of them has already initiated legal proceedings. I think he has until next week to pay. It seems like you may be able to help my friends and of course likewise. Was your situation ever resolved?

-A watchdog
USA
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#3 Consumer Comment

I know of a few people ripped off by Randy and MBX....

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

I am not an Ex-Employee but in recent months Randy and his company have come across my desk, I know one of them has already initiated legal proceedings. I think he has until next week to pay. It seems like you may be able to help my friends and of course likewise. Was your situation ever resolved?

-A watchdog
USA
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#4 Consumer Comment

I know of a few people ripped off by Randy and MBX....

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

I am not an Ex-Employee but in recent months Randy and his company have come across my desk, I know one of them has already initiated legal proceedings. I think he has until next week to pay. It seems like you may be able to help my friends and of course likewise. Was your situation ever resolved?

-A watchdog
USA
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#5 UPDATE EX-employee responds

Also filed a report of my own under US AMP

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

I am not an ex-employee, but used to have contract with US AMP/Randy Smith.

I also had problems in receiving payment from this company US AMP and/or MBX and my contract was terminated as well. I did not receive cooperation either way.

Without too much detail, there is another Broker I referred to the US AMP service and this Broker, too, had payment problems. I am not sure this Broker will speak up.

However, I just wanted to show support the best way I knew how by letting the Broker and his office who also reported here know they were not alone.


J
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#6 Author of original report

WE HAVE PROOF AND EVIDENCE - IT IS ALL TRUTH!!!

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

To even state that MBX/USAMP was "not even involved" in any such transaction is FALSE and is evidence of stealing. Every company mentioned in the first posting of this claim was INDEED involved from the START, and we have multiple accounts of PROOF in writing to support this.

This information is not "Slander" or "Fabrication" in any form of fashion. It is TRUTH. We possess RIGHT NOW, a COPY of the Domestic Wire Transfer that Aspen Funding LLC sent to USAMP/MBX for $18,475 on February 13, 2006, clearly listing USAMP as the Beneficiary - all which includes the Banker's name and ID who processed such, Account Numbers, Reference Numbers, Address, Banking Information and the like - and WE can provide such to ANY attorney at a moment's notice.

Additionally, on such confirmation clearly states: "For the Closing of Narain". Again, Sybil Narain is OUR client, and can PROVE it. The Broker has IN WRITING an Agreement for this entire transaction through USAMP/MBX. We possess IN WRITING proof directly from Randy and his office employees that they received our monies and were going to SEND us our monies. Simply refer to a few of the email correspondences already posted HERE! We possess RIGHT NOW, the CLOSING STATEMENT and supporting documents of this entire file (including the amount above due the Broker) CLEARLY stating that that money BELONGS to US.

The bottom line is...now Randy has gotten an attorney to try to sue US for over $200,000, when WE are the ones who STILL have not yet received our monies from OUR loan that we were under CONTRACT for with USAMP/MBX that CLOSED January 26, 2006. It is now March. This company is illegally holding over $18,000 of ours and REFUSES to respond back to us, and we can no longer inquire about our monies he is holding, because he had his attorney send us a Cease and Dissist letter. Point Blank.....WE HAVE BEEN RIPPED OFF. ANY court of law, or any attorney worth their salt should ask in the FIRST place.....why didn't you send them their money? Instead, in Randall Smith's attorney letter, it is stated that we have an "alledged" claim, and we need to send "proof" of such claim. NOW, he's trying to act like he never owed us ANYTHING. We are sorry, but you CANNOT lie your way out of WRITTEN PROOF.

We are not hostile or volatile and we are certainly not fabricating. We just never received our monies owed to us from a contracted loan on OUR CLIENT - monies sent to a Bank Account belonging to USAMP/Randall Smith. We hold PROOF and EVIDENCE of all of this! Since February 13, 2006, Randall Smith has been illegally holding over $18,000 of our monies, versus the few HUNDRED he was supposed to deduct before sending it to us. First, Randall terminated the Broker's Agreement to prevent website access. During our last communications with them, his own employee told us she had been pulled off of the case, and Randall is the only person we could talk to. Then, Randall stopped THAT with a Cease and Dissist. We find out that there are OTHER complaints, as well, legally filed against him with the Department of Banking. WE DON'T HAVE OUR MONEY BECAUSE RANDALL REFUSES TO SEND IT. What is the other side of the coin?

Randall Smith can hire all the attorneys in the world....but the underlying question is....WHERE'S OUR MONEY, and HOW COME YOU NEVER SENT IT? Have the attorney fight THAT one.

The answer is STEALING. And stealing is a crime punishable by the law. THOSE are the REAL damages, here. These are NOT threats - never have been. THESE are FACTS.

FACTS will stand up in court, in the public eye or ANYWHERE....not false claims of "slander" and "fabrication".

For now....Randall Smith has "gotten away" with our money. But we have faith, and we KNOW that what is done in the darkness shall soon come to light. Sooner or later...we will be blessed to receive what has RIGHTFULLY been stolen from us. Randall can obviously fool HUMANS, but he CANNOT and NEVER WILL fool God.
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#7 UPDATE Employee

Fabrication, Hostile and Volatile

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

This person who filed the complaint is a volatile and hostile individual who fails to mention the other side of the coin. From the start to finish this is fabrication. This information on this web site is a wonderful example of this. Slandering other companies who are not involved in this transaction is liable-slander and is subject to damages. We hired a attorney to handle this matter and would hope you do the same and stop making slanderous post and idle threats. Please get your attorney as we have and force us to counter for damages.

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