I first started working for Morgan Financial about one year ago full time as a loan originator. I had no experience and had a record, but they hired me anyway and told me I would be perfect for the job. They said I would be paid money for each loan I originated by cold-calling. I was perfectly fine with this and started to see the business flow in. Although I saw plenty of fraud (people signing loan documents w/out power of attorney, people bait n' switching, etc.) from the get go, I figured as long as I'm honest, the business will come and I will be making decent money for a nineteen year old. But that never happened. I soon began to realize they never wanted to move me up to actually doing my own loans, they only wanted me to do their dirty work. They paid me under the table as well, odd for a bank and financial institution. I was working for a man named Jacob Eckerd. He was always very friendly and kind and I definitely trusted him.He was a family man and was always working hard. I soon began to see that he was just as bad as the other employees. He would lie to borrowers just to get a shot at doing their loan. He would charge elderly or uninformed people up to 5 points (5%) of the loan amount! that can be around $15,000 on a conforming loan! Once the subprime market collapsed, the company started not doing too well and shut its doors. But I had good loans (fixed rates, minimal points charged) going through Jacob that were signed and funded (meaning he got paid). I have since (for about 6 months) been trying to get my money that I worked hard for and he did nothing for, but he refuses to give it to me, tells me to let it go. He basically robbed a struggling college student. This man is also very well off while I was living paycheck to paycheck. He now works for another mortgage company in Rancho Cordova, CA. If you are working with or refinancing with Jacob Eckerd, then I would highly recommend that you find someone else. He doesn't seem to have a conscience and will rip you off in a heartbeat. Just so you know, this is not in any way revenge for what he has done to me. My only goal is to inform you consumers to steer clear from this low life con man posing as a mortgage banker/ loan specialist/ branch manger.