ED Magedson – Founder
American Equity mortgage230 west Towne Ridge Pkwy, STE 350 Sandy, Utah USA
American Equity mortgage AEM Worse mortgage job Sandy Utah
This is a summary of the worse company that I have ever had in 22 years of experience in the mortgage industry. Based on a recommendation from a friend, I applied for a position at American Equity Mortgage. He did give me a word of caution to watch out for a few things. The atmosphere at this company was a little strange although the people there were nice enough. I realize later what was wrong after the first meeting why the people there were so intimidated. They were afraid to get caught talking to each other because this manager has been known to intimidate or use profanity or whatever else.
Our first meeting, he practically without raising his voice belittled everyone there because they were not like No. 1. No. 1 is the top producer and he really feed them the best leads. All the meetings are about why you can’t be like No. 1. He gives examples of what the loan officer did wrong by passing out a credit report with no loan officer name on it but that loan officer is sitting there in the meeting. He criticizes how that loan officer should have called the client one more time out of 20 times. When No. 1 called the client the 21st time they got the credit pull. In other words, the client allowed their credit report to be pulled in hopes of doing a loan. These meetings were pathetic. It is all about numbers and not building any relationships with their clients.
I was given about 30 to 40 leads and I am thinking yes, let’s rock and roll. When I looked at these leads they were from other loan officers. They have called these clients at least 10 to 15 times over the past couple of weeks. Multiply that by 5 or so other companies calling this one lead and you must keep calling until he feels that it is dead or you speak with someone. He kept sending more of these and occasionally I would get one or two new leads each day.
I am seeing the reports each day of loan officers pulling credit reports and the goal is to pull 2 a day and 10 for the week with putting at least 2 loans in the pipe or processing. No one seems to really hit this goal but his blessed No. 1. I was able to find out how to pull credit reports from other loan officers. They would literally sit with their fingers on the button on the phone system. When the calls come in, you have to be fast to get the call because this is a potential client. That was the secret to getting the credit pulls, all about numbers. In addition, you need to watch how you are getting PAID. The worse job I have ever worked. I will not recommend this place to anyone. Sad thing about this is that the company is aware of what is going on but as long as the numbers or credit reports are being pulled. They are okay with this.
This report was posted on Ripoff Report on 03/15/2014 10:52 AM and is a permanent record located here: http://www.ripoffreport.com/reports/american-equity-mortgage/sandy-utah-84070/american-equity-mortgage-aem-worse-mortgage-job-sandy-utah-1130878. 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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