Mortgage Investors Corporation Amerigroup Mortgage Corporation Review Scam | Complaints INVESTIGATION: Mortgage Investors Corporation / Amerigroup Mortgage Corporation commitment to 100% client satisfaction, MIC implemented strategic changes to insure clients success, focusing on finding ways to help service members and veterans protect their homes and lower their monthly mortgage payments even in the sort of challenging market we face today.

---

*UPDATE: Recognized by Rip-off Report Corporate Advocacy Program as a safe business service Mortgage Investors Corporation / Amerigroup Mortgage Corporation pledges to always resolve any issues, feel safe, confident & secure when doing business with MIC.

This is actually a rebuttal to Danny the current employee of MIC/Amerigroup. Danny, stop drinking the koolaid!!

I was an employee of MIC for 2.5yrs from mid 2001 to end of 2003. I was a loan officer in the corporate office & because of my production I eventually moved to assistant manager of that office & finally was promoted to a Regional Manager & took over an office in Nashville, TN. This was my first job in the mortgage industry & after I left 2.5yrs later I realized how much BS MIC was pushing. I admit during that time I was making 6 figures a year & thought WOW!!, this is so easy. Bottom line though we were nothing more then hard core sales people & had no real clue about the real mortgage world. We had one product, we pitched it, & we pressured people to sign. Everything from the phone call setting your appointment to the closing was scripted. None of the departments knew what the other departments told clients & that was done on purpose.

There was a reason MIC did not hire people with prior banking or mortgage expierence...they knew the real deal & MIC was full of it. I remember in the time frame I was with them we went thru some huge rate drops & many of the clients we refinanced had done so with us 2 or 3 times. The costs, 1 point origination, 2 points loan discount, & sometimes 1 point out of pocket was well in excess of what a borrower could have received from a normal mortgage company or bank. Most of us knew no better...hey we were all sold on the pitch just like our clients. The T.O or "take over" to our manager when we couldn't get a client to say "yes" when we were in the home was all part of the pitch. If you could save the borrower even $20 a month you were expected to close the deal.

Because we only pitched the VA Streamline refi most our clients were retired military or active duty. In many situations the borrwer signed for the escrows cash back & the 1 month skipped payment. If you were a desperate loan officer you would show them how to skip two payments & put even more money in their pocket. If there was a small monthly savings then that was a bonus. The problem here was we were tacking on 14k in fees on average & if you were someone that refinanced with us twice in a year that was 28k in fees in one year. When you run the numbers the only real benefit was cash in pocket to most clients.

I will admit that in the begginning when rates first started dropping & we were saving a client 1.5% to 2% on the interest rate it was a benefit. The problem came when we kept going after the same clients again when rates only dropped another .5%. I promise you most of these clients could have gone elsewhere & received the same rate for much less in closing costs, something I realized when I left & went into the real mortgage world. I have been in the mortgage business now for 8 years & I am currently Vice President & Principal Broker for a local company. I don't regret working for MIC because it did provide me a very nice income & got me into the business of course now I know a lot more then any so called loan officer at MIC could imagine. MIC is a sales company not a mortgage company...bottom line!! When I look around for some of the more succesful people I worked with while at MIC none of them could make it in the real mortgage world. With everything that has happened in this industry since the housing boom, more & more people are aware of these high pressured sales tactics by companies like MIC & are staying away from them. In this time knowledge & credability are most important.

In closing, it suprises me that a man such as Bill Edwards whom was a veteran himself chooses to run a company that rides the fine line of truth vs lies & continues to take advantage of the people he swears his company is out to help. Yes, there will be people that take advantage of what MIC has to offer but only for the short term aspects, not the long term.

Thank You,

FLP

Remember that a fixed rate is based off of the ORIGINAL loan amount, so if your loan began at $150,000 and you pay 7% you pay the same 7% even when you only have $5,000 left on the loan. This fact confuses most people who are under the impression that a fixed loan is always best. So, while some continue to pay higher (fixed) interest rates and slowly watch their loan amount decrease, others pay lower interest rates and watch their loan amount decrease along with the rate while continuously saving money... paying their homes off faster.
Our company is legitimate, and every consumer has had a bad taste in their mouth from time to time (we have all had a lazy waitress, a s****.> There is a lack of knowledge with mortgages because of all the current hype over rates and fear of foreclosures. We DO help, we WILL save you money, and we LOBBY in Washington D.C. for Veterans to maintain the benefits they currently have.
Our persistency, prudence and pride is reflected in our growth chart on our website, www.mortgageinvestors.com
The mortgage industry is always changing, so are the rates. We have, do and will maintain to offer the best mortgage available to veterans...if it is a fixed rate, so be it! If it is a hybrid, so be it! IT IS THE BEST AVAILABLE. This company stands by their name and ideals, we are Mortgage INVESTORS. We invest in the mortgages of our millitary veterans and will continue to until there is no such thing as a loan!
Has your bank called to inform you when there is a lower rate? Would they?
Thanking you with a smile,
D.D.

Remember that a fixed rate is based off of the ORIGINAL loan amount, so if your loan began at $150,000 and you pay 7% you pay the same 7% even when you only have $5,000 left on the loan. This fact confuses most people who are under the impression that a fixed loan is always best. So, while some continue to pay higher (fixed) interest rates and slowly watch their loan amount decrease, others pay lower interest rates and watch their loan amount decrease along with the rate while continuously saving money... paying their homes off faster.
Our company is legitimate, and every consumer has had a bad taste in their mouth from time to time (we have all had a lazy waitress, a s****.> There is a lack of knowledge with mortgages because of all the current hype over rates and fear of foreclosures. We DO help, we WILL save you money, and we LOBBY in Washington D.C. for Veterans to maintain the benefits they currently have.
Our persistency, prudence and pride is reflected in our growth chart on our website, www.mortgageinvestors.com
The mortgage industry is always changing, so are the rates. We have, do and will maintain to offer the best mortgage available to veterans...if it is a fixed rate, so be it! If it is a hybrid, so be it! IT IS THE BEST AVAILABLE. This company stands by their name and ideals, we are Mortgage INVESTORS. We invest in the mortgages of our millitary veterans and will continue to until there is no such thing as a loan!
Has your bank called to inform you when there is a lower rate? Would they?
Thanking you with a smile,
D.D.

Remember that a fixed rate is based off of the ORIGINAL loan amount, so if your loan began at $150,000 and you pay 7% you pay the same 7% even when you only have $5,000 left on the loan. This fact confuses most people who are under the impression that a fixed loan is always best. So, while some continue to pay higher (fixed) interest rates and slowly watch their loan amount decrease, others pay lower interest rates and watch their loan amount decrease along with the rate while continuously saving money... paying their homes off faster.
Our company is legitimate, and every consumer has had a bad taste in their mouth from time to time (we have all had a lazy waitress, a s****.> There is a lack of knowledge with mortgages because of all the current hype over rates and fear of foreclosures. We DO help, we WILL save you money, and we LOBBY in Washington D.C. for Veterans to maintain the benefits they currently have.
Our persistency, prudence and pride is reflected in our growth chart on our website, www.mortgageinvestors.com
The mortgage industry is always changing, so are the rates. We have, do and will maintain to offer the best mortgage available to veterans...if it is a fixed rate, so be it! If it is a hybrid, so be it! IT IS THE BEST AVAILABLE. This company stands by their name and ideals, we are Mortgage INVESTORS. We invest in the mortgages of our millitary veterans and will continue to until there is no such thing as a loan!
Has your bank called to inform you when there is a lower rate? Would they?
Thanking you with a smile,
D.D.

Remember that a fixed rate is based off of the ORIGINAL loan amount, so if your loan began at $150,000 and you pay 7% you pay the same 7% even when you only have $5,000 left on the loan. This fact confuses most people who are under the impression that a fixed loan is always best. So, while some continue to pay higher (fixed) interest rates and slowly watch their loan amount decrease, others pay lower interest rates and watch their loan amount decrease along with the rate while continuously saving money... paying their homes off faster.
Our company is legitimate, and every consumer has had a bad taste in their mouth from time to time (we have all had a lazy waitress, a s****.> There is a lack of knowledge with mortgages because of all the current hype over rates and fear of foreclosures. We DO help, we WILL save you money, and we LOBBY in Washington D.C. for Veterans to maintain the benefits they currently have.
Our persistency, prudence and pride is reflected in our growth chart on our website, www.mortgageinvestors.com
The mortgage industry is always changing, so are the rates. We have, do and will maintain to offer the best mortgage available to veterans...if it is a fixed rate, so be it! If it is a hybrid, so be it! IT IS THE BEST AVAILABLE. This company stands by their name and ideals, we are Mortgage INVESTORS. We invest in the mortgages of our millitary veterans and will continue to until there is no such thing as a loan!
Has your bank called to inform you when there is a lower rate? Would they?
Thanking you with a smile,
D.D.