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Meredian Financial Services/ Loan Services James Assali, Russell Howerton, Paul Ferris Beware!! several customers have loans that funded over amonth ago, and same excuses for all for why they can't get their money they are owed! He is co-mingling and withholding federal funds! Costa Mesa, California
I am a former employee of this shady crook James Assali of Meredian Financial. I worked really hard for this guy for over 2 months. I followed procedure on receiving money and selling loans. We took a $500.00 rate lock deposit for the loan promising the customer we would lock in the loan, which according to James, we were not allowed to lock anything until the loan is about to close! we got paid a commission of the $500.00, which is supposed to go into escrow. On top of that, he would have the customers pay two payments outside of closing, which he calls, "Borrower Contribution". He claims it goes to their mortgage balance to offset their mortgage, which is entirely false. It goes in his bank account. There have been several times where he would write the employees checks, including the hourly receptionsist, and they would all bounce! We all got tired of this nonsense, so I was planning to close out all my loans and quit. When he found out about this, he fired me for being associated with "gooks"! He said he would fire anyone that was friends with those "Mother F***ing Gooks"! To make matters worse, James Assali told me I could work on all my loans from home, which I did. Did I get paid? NO! I am in the process of taking matters to the labor board, but in the process, I got kicked out of my new house because of him, and I can't see my children as much because of the emotional stress he put me through. The main reason I am writing this report, is not for my personal reasons, but several of my customers have since October 26th 2009, call me to tell me that James Assali gives them all the same excuse of why they did not get their escrow checks. When a loan funds, monies are dispursed within 72 hours. All of these customers' loans have funded over 30 days ago, and still, no money. One customer is owed over $10,000....another, $20,000....The money is paid to Meredian, and Meredian in turn is supposed to cut the checks. Russell Howerton works in the same office using a lady my the name of Mrs. Joans in Florida as their scapegoat for Title company. Russell is the on e who does the actual title work, deposit escrow checks into Meredian accounts, then transfers funds to a personal offshore account. The excuse James uses is the same as everyone..."Sorry, Russell is new, he put the wrong account # on the checks, and they had to stop payment." Why is this excuse used for everyone? How is it that James Assali and Russell Howerton have not been indicted on federal charges yet? They will soon....Paul Ferris holds the Broker licenses as the silent partner. He is just as responsible. The sick part is, James Lives on 29 Shady Lane...Go figure. I willl have my justice in court, and I hope all my customers receive their money too. I feel their pain. If you even consider using this company, you would be in for a reality nightmare. This is not a joke, nor is it a retaliation from a disgruntled employee. If you dont believe me, please email back, and I will have all of my customers tell you the truth, which is what I am telling you.....
3 Updates & Rebuttals
Lee
long beach,California,
United States of America
Bamboozle or not the bamboozle that is the question
#4UPDATE EX-employee responds
Wed, January 06, 2010
"Jason Halverson, you came to our company to learn about our business practices with your partner in crime Lina Leoung, defraud any customer you could to make money and convince employees to go with you. These employees informed us of your scam and we had you escorted out by authorities and canceled your contract. We have corrected all of your files and returned money to all of your clients you tried to scam. You are not owed anything and your malicious attempt to defame Meredian and it's staff is only going to get you in more civil and criminal legal problems. All of your death threats to employees families and all record of your malicious acts to customers and fake complaints are being carefully recorded. We can only suggest you cease and dissist immediately." James Assali
Respone to above statement.
I have been silent long enough. You are accusing me of wrong doing. I came in and restructured your company with my business ideas. The first check I made at Meredian came back nonsufficient funds. I went against my best judement and continued working for you, even though you owed me and my staff thousands of dollars. You have accused me and my staff of Defrauding your customers with rate locks/Loan Modification up front money which you implemented as part of your business practice. You instructed me to make a list of people which you needed to reimburse for those rate locks and Loan Modifications. You disregarded that list creating upset clients. I resigned as Director due to your shady business practices. I find it ironic that you only preform ethical duties when you have to not when you need to. Now that the truth is out in the open, we have two choices: 1) we can end this now or 2) we can take it to the next level. (Lina Loeung)
MEREDIAN RIP OFF!
tustin,California,
United States of America
What needs to be done.
#4Consumer Suggestion
Fri, December 04, 2009
If you were ripped off by Meredian Finanical Corporation, owner James T. Assali here are the steps you need to take to file a formal complaint!!!
Step 1: This link is Ca department of Real Estate, they have the ability to revoke his business license.
http://www.dre.ca.gov/cons_complaint.html
fill out Licensee/Subdivider Complaint form (RE 519)
http://www.ag.ca.gov/
"Anttorney General Brown lives to shut down Fraudulant Mortgage Companies!!!!" check out this site!!!
Step 2: This will give the company the reputation it deserves.
http://www.la.bbb.org/BusinessFind.aspx?Target=c
Step 3: You need to report all economic crimal to your state Attoney General and your local FBI office.
It is a must that you complete all 3 steps!!!
New Laws Effective July 30th, 2009.
http://activerain.com/blogsview/1163371/new-l ... ur-transactions
2. Upfront fees cannot be collected by the mortgage broker or lender ( excluding credit report fee) until the initial disclosures are received by the borrower. Disclosures are considered received by the borrower 3 full business days after mailing, allowing fees to be collected on the 4th business day. Examples include appraisals, application fees, etc. This also means that the appraisal cannot be ordered until the 4th business day as well.
Meredian Financial Corp
Costa Mesa,California,
United States of America
CORRECTION TO FALSE INFORMATION
#4UPDATE Employee
Thu, December 03, 2009
Jason Halverson, you came to our company to learn about our business practices with your partner in crime Lina Leoung, defraud any customer you could to make money and convince employees to go with you. These employees informed us of your scam and we had you escorted out by authorities and canceled your contract. We have corrected all of your files and returned money to all of your clients you tried to scam. You are not owed anything and your malicious attempt to defame Meredian and it's staff is only going to get you in more civil and criminal legal problems. All of your death threats to employees families and all record of your malicious acts to customers and fake complaints are being carefully recorded. We can only suggest you cease and dissist immediately.