• Report: #398272
Complaint Review:

Infinity Home Mortgage Corp

  • Submitted: Fri, December 05, 2008
  • Updated: Sat, January 17, 2009

  • Reported By:Brooklyn New York
Infinity Home Mortgage Corp
1934 Olney Ave Cherry Hill, New Jersey U.S.A.

Infinity Home Mortgage Corp, Michael Jaconelli Stole my commissions on loans that I closed with Comapny Cherry Hill New Jersey

*UPDATE Employee: Infinity Home Mortgage... the truth


*UPDATE EX-employee responds: This Company is the pits!!!

*Author of original report: Well if thats the case, take me to Court, I look forward to it!!!


*UPDATE EX-employee responds: Why don't you tell the truth about who owes who and who stole the money?

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I was employed by Infinity Home Mortgage Corp. for a period of approximately 4 months. Mike Jaconelli makes you all the promises in the world and then reneges on all of them.

I recruited over 15 people to work for IHMCI as well and each and every one of them quit.

Jaconelli still owes me over $3,000.00 in commissions on a loan that was closed but refuses to pay me. He is aware that I had a tragedy in my Family but when I presured him to pay me, as I needed the money and was in the hospital with my Son in a coma, he instead sent me a termination letter via Fed-Ex.

This is the lowest form of scum on the earth. He is an outright liar and a thief.

If you are a loan officer or a client looking for a mortgage, avoid this Company and person at all costs. He will rob you with fee's and rates if you are a client and he will rob you of your commissions if you work there.

Avoid at all costs.

Brooklyn, New York

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 12/05/2008 01:38 PM and is a permanent record located here: http://www.ripoffreport.com/reports/infinity-home-mortgage-corp/cherry-hill-new-jersey-08003/infinity-home-mortgage-corp-michael-jaconelli-stole-my-commissions-on-loans-that-i-closed-398272. 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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Updates & Rebuttals

#1 UPDATE Employee

Infinity Home Mortgage... the truth

AUTHOR: Unhappy Shopper - (U.S.A.)

I have been in the mortgage business for over a decade and in that time have worked for two of the premier mortgage banking firms in the South Jersey / Philadelphia Marketplace. Prudential Fox and Roach/Trident and Cendant Mortgage for a majority of that decade. Infinity Home mortgage has excellent processors and underwriters rank rite up there with them, that part you will have to take my word on. The company has it's act together.

As far as the office being unorganized, with files on the floor, well that is ridiculous. Every mortgage firm who has their banking commission license is required to have state auditors inspect the office as well as auditor from the investors they deal with (Wells Fargo, Citibank, TBW, ect). I think they would have something to say about files laying all over the place. Beside for that, feel free to stop in, the office is at 660 N. Kings Highway in Cherry Hill NJ (second floor)and see for yourself. Don't take my word or someone who has an axe to grid.

There are a lot of employees who have been with Infinity for five years or more. That says a lot. I can name mortgage companies who can't keep employees for 3 months.

The people or possibly one person writing the complaint under different names obviously has issues here. The thing to remember is the NJ Department of Banking lists Infinity Home Mortgage in good standing.
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#2 Consumer Comment


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

I interviewed with this company with Mike Jaoneli and Christopher Grungo.

I ran out of there fater than a NY minute.

The place is a disaster. Files on the floors, no one at the reception desk, very unorganized looking and unprofessional.

I am just getting back in the business and Infinity is not for me. I want whats best for my customers.

Sounds like I made the right choice.

Just my 2 cents FWIW
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#3 UPDATE EX-employee responds

This Company is the pits!!!

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

I worked at Infinity Mortgage for about one month and had a branch office. Their processors are terrible, they offer no support to their branches at all. they promised us top notch service and it took them weeks to get us up and running with encompass. We sent in abot 10 loans and never got an approval on any of them. When we transferred the case numbers they finally got approved and at that point the borrowers were gone. After we resigned, Mike Jacineli called my clients and pitched them to stay with them and close the loans with them. That was a low life move. I am not surprised to see what this other guy wrote, I saw it with my own two eyes. They have one underwriter and 2 processors and both processors dont know what they are doing. They find ways to kill our loans insted of helping us close them. Thank God we left before they owe us money or I can imagine what that would have been like. Stay away, no support and idiots running the show.
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#4 Author of original report

Well if thats the case, take me to Court, I look forward to it!!!

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

You know what the truth is. You know you screwed me out of money. I have all your lame duck excuses in saved emails. You and your processors knew exactly whose loans you were closing and where they were originated. You want to try and make me out to be a bad guy? I don't know the business?
You guys lost more loans in 3 months because of a bunch of lacsidasical workers that did nothing but sit in the kitchen and eat all day long!
You want to talk about who doesn't know the business, you guys down south there are still 2 years behind the rest of the world.

I brought you over a dozen Loan officers, every one of them quit in less than 2 weeks because of your lazy and unprofessional staff. Then you had the balls to call all their clients and tried to steal their loans after they told you to go scratch. The only mistake I made was drive an hour and a half each way to close loans and get screwed. Everyone else saw right through your B.S. and left before the ink was dry on their applications. Everyone of them including myself sent you countless emails about your staff and you ignored them all.

Just like M.G. screwed you? He has a much different story to tell. The truth is, everything he said about you and your crew there was true. He couldn't even get business cards to do business from your Company but instead got jerked around for months and hung out to dry. You wasted so many peoples time with your lies, having people draft leases and then say "your lawyer is going over them", the truth is they are probably still sitting in a pile some where on the floor. You pulled the same crap with him and the lease, computers, etc.

You go ahead and put your head down at night and believe that youre a good guy and the rest of us are liars and thieves, like you said, what goes around comes around. As far as the Father and Husband I am, talking like that only proves what a piece of s*&t you truly are. Even your buddy R.A. screwed me for $80.00 for a jersey. Thats what you refer to as "Good Guys"? You have some balls even using the word gentleman, let alone say I was treated that way there. I go to funerals for guys I don't even know from your office in the middle of no where and I don't even get a phone call from any of you when you found out my Son was in a coma, instead I get a termination letter from your Wife?? You didn't even have the balls to make the call, instead you had your wife send out a fed-ex??? You call yourself a good guy??? Who on Gods earth raised you to make you believe thats a "good guy"????? If your so sure I screwed you, take me to Court!!!! "SEE YA LATER", I LOOK FORWARD TO IT!!!!
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#5 UPDATE EX-employee responds


AUTHOR: Oto Tj - (U.S.A.)

Hey, what a shame that you could not give your real name????? it really is not hard to figure out who you are? You were treated like a gentlemen here and unfortunately guys like you give the mortgage business a bad name!!! YOU ARE THE THIEF AND WERE THE THIEF!!!!! If you were a stand up guy you would pay back the money that you owe to INFINITY HOME MORTGAGE. YOU CLAIM YOUR HOUSE IN IN FORECLOSURE AND 2 DAYS LATER LEAVE FOR A WEEKS VACATION TO ARUBA!!!! I GUESS TIMES WERE REALLY HARD!!! LIAR LIAR LIAR LIAR....that is all i can say at this point. GET OUT OF THE MORTGAGE BUSINESS AND BECOME A USED CAR SALESMAN...because you do not know your butt from your elbow about the business anyway......you are a real classless individual that uses people and extorts money from people with your lies!!!! What a shame I feel for your family and kids to put up with a father and husband like you!!!!!!!!!!!!!! You stole loans and commissions from other loan officers claiming them as your own....as they say what comes around goes around!!!! SEE YA LATER...it is not worth the rest of my breath writing anymore!!!
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#6 UPDATE EX-employee responds

Why don't you tell the truth about who owes who and who stole the money?

AUTHOR: Otot J - (U.S.A.)

Hey Mr Brooklyn,

You're a joke!!! Why don't you tell the real story instead of smearing false info around. You are the one who stole money, never closing loans that you took advances. You also took full commisions for loans other people turned over to you and they never got what was promised to them from you...That sounds like something the Banking Commision might be interested in hearing about. I guess your trip to Aruba was paid for by the stolen commisions on your end. Look in the mirror and face the truth if you can do that. You're a freeloader and need to move on.


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