Report: #1094149

Complaint Review: ResMac, Inc

  • Submitted: Wed, October 23, 2013
  • Updated: Wed, October 23, 2013
  • Reported By: Anonymous — California
  • ResMac, Inc
    6501 Congress Ave, Second Floor
    Boca Raton, Florida

ResMac, Inc Harvey Kopelowitz, PresidentNelson Haws, OwnerJeanne Delormier, Chief Compliance Officer NON RESPONSIVE, DECEPTIVE BUSINESS PRACTICE, BAIT AND SWITCH SCHEMES Boca Raton Florida

*UPDATE EX-employee responds: Creative

*UPDATE EX-employee responds: ResMac tried to withhold my pay also

*REBUTTAL Owner of company: ResMac Wrongfully Accused by Disgruntled Employee

Show customers why they should trust your business over your competitors...

Prospective Branches & MLOs Beware!!!!

I wish I would have found this site before making the jump into working with ResMac.  Nothing but headaches from this relationship.  They are the true salesman with overpromising and under delivering.  I haven't seen deceipt like this since the subprimes days. 

Like anything New, the first 3 to 4 months is a new experience and any difficulties, we all chalk it up to a learning process.  After the transition, is where you may begin to see the real deal.  Changes in pricing, Underwriting Guidelines, and alot of disconnect between depts.  GO WITH YOUR INITIAL GUT FEELING. 

The real issue is getting paid on your funded loans after separation.  FINAL payroll, commissions, overrides, and correspondent fees per the CONTRACTS - still PENDING!  May need to seek Regulatory  assistance. 

Be very careful in the agreements they present - especially the "venue" clause if you are not located in Boca Raton, Fl. have your attorney review it carefully.  I know there is currently labor claims filed by ex employees, I will be posting the outcome of those cases for everyone to see.

Also, I will be posting regulatory contacts in case anyone has been through the same thing and like to pursue it further along with their contracts/agreements.












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Updates & Rebuttals


#1 UPDATE EX-employee responds


AUTHOR: Florida - ()

The below response from Harvey, President- lawyer of Resmac is another creative response to negate any responsibility they have in the way they conduct business.  There are a lot of complaints for a company that is reputable and of size.  For a large company to respond and call ex employees out on this forum comes off presumptuous and is a failed attempt to do the right thing.


Harvey's response definitely is directed to any future and potential recruits of branches and sales people.  If you are one of them - do your homework.  Same type of things happened to me.

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#2 UPDATE EX-employee responds

ResMac tried to withhold my pay also

AUTHOR: CaptainCrunch - ()

I also worked for ResMac and had similar experiences with them. I don't want to use this forum to trash ResMac or hurt some of the good people that work there but hopefully people who have had similar experiences will share so that this company will cure it's unfair practices. I was appalled at the way their company's owners conducted themselves by withholding my pay and engaging in unprofessional emails. They had an unlicensed processor assigned to my files in their computer system and said because of that they could not legally pay me even though the applications clearly had my name on it.  Even after discovering their error they would not willingly pay me. They would tell me they would take care of it one day and then a week later come up with a new excuse. Well, if they weren't paying me and they weren't paying the processor then where would that money go?  I guess that ResMac believes the house always wins but I didn't give up and I did end up getting paid after many weeks of back and forth with them and a complaint to the labor board. Not sure if they we're going through some financial issues or if they do this to everyone that decides to part ways with them but I think their posts and actions speak for themselves since there is a pattern of there abusive labor practices. 

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#3 REBUTTAL Owner of company

ResMac Wrongfully Accused by Disgruntled Employee

AUTHOR: Harvey - ()

This is written in rebuttal to the Complaint Review filed against ResMac, Inc. Fortunately, we were able to determine the source of this complaint and so we can respond with specificity since we know the true motives of its author – Thomas C****  - and can provide you with the following facts so that you can draw your own conclusions.

First, it should be understood that ResMac, Inc. is a licensed lender servicer, licensed thru much of the nation and approved by FNMA and under the careful scrutiny of numerous agencies and institutional investors. We have enjoyed the hig ratings thus far from these parties and stand by our reputation with them and throughout the industry. Furthermore, we have successfully opened and maintained numerous retail branches, employing over 300 persons currently. Nonetheless, once in a while, we have been too trusting when employing our branch managers as we were with Mr. C****.

After meeting with Mr. C**** in California and reviewing his projections and business plan to grow production in Southern California, he and his staff members were invited to our home office in Boca Raton for extensive training as we do with all candidates. Ater the meeting Mr. C**** was offered employment as a  branch manager to operate an initial branch. He was also given the opportunity, through his company, Command Mortgage,  to recruit and help open additional branches and thereby grow our footprint in Southern California.  Weinvested over $50,000 in the establishment of his initial branch. After a few month’s time however, we came to realize that his forecasted production and management and recruiting skills were lacking.

Seeing the writing on the wall, Mr. C****  “quit” before he would have been terminated and then raised a smoke screen that we owed him money - which we do not. He has since threatened to report us to various regulatory agencies and made other threats through his legal counsel (who turned out to be his family member). Rather than cave in to these threats we C****se to ignore them. So now Mr. C**** has resorted to this report as his next effort to extort more money from ResMac.

Mr. C**** claims that we changed our practices after some month’s time. The only thing that changed – for everyone in the industry – was the pricing of mortgage loans. C**** lacked the skills to adapt to a changing market and wishes to pin his failure on us. Hopefully the reader will determine that our version of the facts is at least as credible as is Mr. C****’s.  We have lists of other highly successful branch managers who have been with us for years, and who would support how we do business. We have also been in communication with some of his former loan officers who have confirmed that C**** failed to honor commitments which he made to them leading to their early departure, as well as other practices which we were previously unaware of. We have not seen the end to our problems from C****. It is ironic that he should be adding to them by making these false accusations.

We wish Mr. C**** success in his next venture – but he should plan to earn it next time.  It is unfortunate that C**** names the names of innocent officers of the company in his “compliant”.   But neither they nor this company will bend to this form of extortion.  Perhaps Mr. C**** will want to respond again. This will be our last public response. There are more established and recognized forums to settle meritorious disputes. Mr. C**** should try to resort to them if he is convinced he was wronged. It is unfortunate that inocent individuals here at ResMac have been drawn into this as well.

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