• Report: #864249

Complaint Review: Vanguard Funding | Ripoff Report Verified Safe™ ..businesses you can trust. commitment to customer satisfaction. While most big banks take as long as 45-60 days to close on a mortgage loan, Vanguard Funding closes the vast majority of its loans in less than three weeks.

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  • Submitted: Thu, April 05, 2012
  • Updated: Fri, May 03, 2013

  • Reported By: jb junior — New York United States of America
vanguard funding/ed bohm
300 garden city plaza, suite 170 garden city, New York United States of America

Vanguard Funding  REVIEW: Vanguard Funding  commitment to total employee and customer satisfaction. Vanguard Funding has the financial resources to provide a full range of services, including Fannie Mae and Freddie Mac mortgages, jumbo and non-conforming loans, FHA loans, reverse mortgages, and more..


*UPDATE: Vanguard Funding  pledges their commitment to Ripoff Report Corporate Advocacy, Business Remediation and Employee and Customer Satisfaction Program. A program that benefits the employee and consumer, assures them of complete satisfaction and confidence when working or doing business with a member business.Vanguard Funding  recognized by Ripoff Report Verified™ as a safe business service.

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Ripoff Report Verified™ REVIEW:

EDitor’s UPDATE: Positive rating and recognition has been given to Vanguard Funding for its commitment to excellence in employee and customer service.
 
Ripoff Report’s discussions with Vanguard Funding  have uncovered an ongoing commitment by the company to total employee and client satisfaction. This means that employees and clients can expect that the company will work towards finding a mutually satisfactory resolution to any complaints or concerns.  Vanguard Funding listens carefully to employee and client concerns and sees them as an opportunity to learn from past mistakes and become more efficient as a company in the services offered and the support for those services.


.....ripoffreport.com/VerifiedSafe.aspx" target=" _blank" =""="">Vanguard Funding is Rip-off Report Verified
Ripoff Report Verified™ .. part of Ripoff Report Corporate Advocacy Business Remediation & Customer Satisfaction Program. A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business..

The information provided in this report is based on comments made by Brian Ofsie during an on-site inspection held by a third party verification company with no biases toward Vanguard Funding..  

Vanguard Funding’s target markets include those requiring refinancing and purchasing within   business to business, real estate, service, professionals, attorneys, consumers, 1-4 family residences and condos and co-ops markets. The feel they are set apart in the industry by their ability to provide fast service, excellent handling of applicants/clients and very competitive rates.

A typical customer experience when working with Vanguard is when initially an applicant fills out a quick application through contact with a Loan Officer.  The Loan Officer “runs” the numbers to see if the applicant qualified and based on income, equity, and benefit to borrower.  If acceptable, an appraisal will be set up and paperwork is emailed to applicant.  This process usually takes 2-3 weeks.  If the application is rejected, a letter is sent out within 30 days with details as to why it was rejected.

In order to help employees provide excellent customer service to customers, the company states they allow for more support staff per Loan Officer than any other of their competitors.  This allows faster processing, faster response and faster closing of transactions.  Vanguard feels they provide speed in service as well as very competitive rates.

Vanguard Funding states the atmosphere of their work environment is extremely professional.  The dress code is business attire (suit and tie), a very pleasant modern clean work place with no tolerance for casual or inappropriate behavior or language.  Brian Ofsie, the President of Vanguard Funding states, “The management sets the high standards and provides an open door policy for all employees to be afforded the opportunity to participate.” Furthermore, the company allows for each employee to have a management review to provide a basis of how he or she is doing in relation to what is expected. This includes revenue goals.  The formal write up will include as necessary any corrective actions required and management will provide support in this process.

The company policy is that the applicant and client has to be responded to in a time sensitive manner, meaning right away.  Applicants and clients may complain that it takes too long to get a reply, often due to outside circumstances (delay in getting required information, etc.).  If the “deal” is out of the box and presents unusual circumstances it may take up to 3 weeks for processing. Understanding that a Loan Officer is compensated on each "deal" they process and close, it is critical for both parties to be on top of the process.  If a Loan Officer fails to respond to an applicant or client in an urgent fashion, after reviewing the situation management will determine if in fact the Loan Officer was negligent.  If he or she has been negligent, then applicant or client is taken away from the Loan Officer and they fail to receive compensation for the transaction. 

Furthermore, in dealing with internal processes needing improvement management must provide continual reinforcement of their policy to deal with each and every issue (large or small) with urgency, addressing each individually.  The company always remembers it is easier to deal with the problem while it is still small.  Once it escalates and becomes large, it often is unmanageable. 

Since the company has started to work with Ripoff Report, they have implanted a policy that all customer calls, information or complaints must be handled immediately.  Any employee who fails to follow this policy will be written up and counseled on this policy. Furthermore, the company is happy to be a part of the Corporate Advocacy Business Remediation and Customer Satisfaction Program because it allows the company to manage their reputation and react in a correct manner while allowing a rebuttal to individual comments.  

Brian Ofsie stated when urging employees to do whatever it takes to make the client happy that “Management must provide continual reinforcement of our client first policy. Every issue is important and requires urgency. If a client is not satisfied, or an employee fails a client they lose the ‘deal’ and revenue associated with that specific ‘deal.’”

As a successful businessman, Mr. Ofsie feels it is critical to listen to his employees and clients and respond properly.  By always putting his employees and customers first, Mr. Ofsie hopes to maintain Vanguard Funding  as a successful enterprise both now and for many years to come.

Another top executive of the company told us that Mr. Ofsie's personal business philosophy is based on the premise that "strives to add value in its services as they understand that a successful business model is based on value-added services, as well as employee and client care”. Vanguard Funding's mission statement says it all: "Our goal is to provide our employees and clients the best quality, value and professional excellence in the industry."  Some of the other things Rip-off Report learned in the course of its investigation: typical customer feedback reads:  “Vanguard Funding (and Mr. Ofsie) truly communicate all aspects of the job in a timely and effective manner.  We are very pleased with the responsiveness that he and his employees show us.  They are serious about meeting commitments, and deliver on all their promises."

 Vanguard Funding  / Statements from the owner. 

  Out of all of my professional accomplishments, the most impressive is the team that's been assembled here at Vanguard. Everyone gives 110%, and practices a hands-on consumer philosophy that allows our company to close loans faster and satisfy the customer. I'm proud to say that Vanguard Funding offers its clients some of the best professionals around and fully dedicated to personal service that guarantees both our employees and customers total satisfaction".


Vanguard Funding takes employee satisfaction seriously as well.   Employee feedback and surveys reveal comments such as this:  "Vanguard provides a very positive environment to work.  Opportunities for suggestions and improvements are encouraged.  Brian Ofsie is truly concerned about our contribution to the company and providing growth opportunities for us.  He takes the time to listen and communicate with employees and customers."  Rip-off Report was pleased to learn that Vanguard Funding’s past and current approach to business is focused on its pledge to total commitment towards client and employee satisfaction.

STATED IMPROVEMENTS FROM VANGUARD FUNDING.

Vanguard Funding recognizes that complaints posted on Ripoff Report (whether true or not) are issues that need to be addressed, not ignored.  If handled correctly, complaints can be valuable learning opportunities. With the feedback generated by Ripoff Report’s Investigation Vanguard Funding has made organizational changes allowing its employees and clients a more streamlined approach to problem resolution and a commitment to a great experience. 

In summary, after our investigation, which included discussions with Mr. Ofsie and many of his past and current associates, Rip-off Report is convinced that Vanguard Funding is committed to quality delivery of services resulting in total employee and client satisfaction.

Read what customers of Vanguard Funding have to say.

Read more about why consumers should feel confident when doing business with a member of Ripoff Report's Corporate Advocacy Business Remediation & Customer Satisfaction Program. Yes, it’s a long name for a program that does a lot for both consumers and businesses alike.

Read about Ripoff Report Corporate Advocacy Business Remediation & Customer Satisfaction Program,.. A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. this program works.    

As a matter of policy, when a business becomes a member of the Corporate Advocacy Program they agree to allow Ripoff Report to contact every client who filed a complaint so they can make things right with them.  In order to confirm that the complaints were resolved, Ripoff Report is copied on all responses so we can insure that the member business did right by their customer ..  

NOW TO THE ORIGINAL REPORT THAT WAS FILED    
-----------------------------------

 

vanguard funding/ed bohm Brian Ofsie as a group of former employees, we want the authorities to know Ed Bohm is owner of the co. & not supposed to be there. garden city, New York

As a group of current and former employees, we would like all consumers and the authorities to close down Vanguard Funding LLC. The practices by which they close loans is why the country is the way it is. Ed Bohm is not supposed to be associated in any way with mortgages but he is owner of the company along with brian Ofsie. He has an office in the back with one of the underwriters. GO GET EM FBI/BANKING DEP'T.

This report was posted on Ripoff Report on 04/05/2012 08:00 AM and is a permanent record located here: http://www.ripoffreport.com/r/vanguard-fundinged-bohm/garden-city-New-York-11530/vanguard-fundinged-bohm-Brian-Ofsie-as-a-group-of-former-employees-we-want-the-authoriti-864249. 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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