Complaint Review: LOAN EMPORIUM CORPORATION - NORCO California
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- Author Confirmed
- LOAN EMPORIUM CORPORATION 2393 PACER DRIVE NORCO, California U.S.A.
- Phone: 800-500-5626
- Web:
- Category: Mortgage Companies
LOAN EMPORIUM CORPORATION RIPOFF Mortgage Broker Rod Neilson, BEWARE LOAN AGENTS, BEWARE CLIENTS NORCO California
*Author of original report: Far from the truth
*REBUTTAL Owner of company: Truth of the matter
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I had the displeasure of getting caught in Rod Nielsons' trap. DO NOT let it happen to you.
My nightmare started when I had to release "Loan Reps" that were not very honest and did not want to work. To my surprise Rod Nielson being the broker hires them back behind my back knowing himself of the things that these reps. have being doing.
Then he started bouncing pay checks but above all he will not give W2 employees payroll paystubs. The last few months I trusted him by telling him that I was leaving but that I had 3 loans to close first. He gave me his word that he would indeed pay me as long as I did not take the loans elsewhere. He not only did he not pay me a dime, he even went as low as calling escrow to stop payment on one check and have them reissue a new check, again behind my back.
To my surprise I was emailed by a former employee and he too stated that Rod Nielson had RIPPED HIM OFF TOO!
He has been reported to the DRE, STATE LABOR, TAX BOARD AND THE IRS.
Pretty side to have everyone know how dishonest your are for less than $12K. In case you need to verify my report, I have many emails from Rod Nielson promising to pay.
If he would do this to an employee that was honest enough to open and close these loans with him, what would he do to a "new agent or clinet"?
Edward
Rancho Cucamonga, California
U.S.A.
This report was posted on Ripoff Report on 10/15/2006 02:57 PM and is a permanent record located here: https://www.ripoffreport.com/reports/loan-emporium-corporation/norco-california-92860/loan-emporium-corporation-ripoff-mortgage-broker-rod-neilson-beware-loan-agents-beware-c-215918. 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. READ: Foreign websites steal our content
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#2 Author of original report
Far from the truth
AUTHOR: Edward - (U.S.A.)
SUBMITTED: Thursday, April 05, 2007
As you can see Rod Nielson is an evil man. He states that he won a judgement, not true the labor board recommended that we go to civil court. But becasue we were in a tragic accident where we were found 100% not at fault my wife did not want to deal with a man that could steal from a family that was already going through a very difficult time.
I don't want to get into a pissing contest with this animal, I just want the public to know that he is not a person you should want to do business with. I still have all my paperwork proving that he lied and stole my money. He can't prove where my $12,000 went. Never were there apprasiers, or lease payments owed for the amount he lied about. Also he doen't tell that it was I that got the office released so he could get his deposit back.
If you want a home loan go to someone that has a public business office not working out of a pig pin.
#1 REBUTTAL Owner of company
Truth of the matter
AUTHOR: Rod - (U.S.A.)
SUBMITTED: Thursday, April 05, 2007
We liked working with Ed for several years. He ran a net branch for us. Several of his Loan Officer however were not satisfied and although they could no longer work with him they wanted to continue to work with Loan Emporium, Inc. He fired them so we rehired them in another branch because we saw no evidence of any dishonesty only personality differences. Ed was offended that we rehired them.
Edward Vasquez did file claims with the labor board,small claims court, tax board, DRE etc. He had serveral hearings and lostevery time. Judgement was in our favor. Ed had signed a contract as a net branch and we honored our written agreement.
A Net Branch is called Net Branch for a reason. The Net profit is the amount left after expenses are paid. Unfortunately Ed had some belief that we would pay for an office lease, phone system, appraisals etc with our funds and then pay 100% of the gross income to him. He received monthly statements and payments the entire time we worked together. He was paid in full.
Unfortunely I think that after Ed killed a teenager on a bicycle that he suffered extreme emotional distress and this has effected his judgement and reasoning ability. We harbor no ill will toward him only our sympathies for what he as gone through this past year.
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