- Report: #242618
Complaint Review: First Guarantee Mortgage - Saratoga Springs New York
-
Author Confirmed
Why?
First Guarantee Mortgage
21 Congess St Saratoga Springs, 12118 New York, U.S.A.
Phone:
518-587-2500
Web:
N/A
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
First Guarantee Mortgage FGM rips off not only there customers but also there employess ripoff Saratoga Springs New York
I am an ex employee of the evil first guarantee mortgage. not only did i personally do many loans and make alot of profit for this company but i did so in a way that i may not be so proud of. See FGM thrives on hiring young uneducated people with whom they use to make the upper level management money. not only do they not train these young puppets on the correct way to conduct themselves in this business but often do not tell them certasin aspect of the business on purpose in order for them to make the most profit they can off of them. Now FGM is a mortgage broker so u can see that they are dealing with people homes, there american dream. And they are crushing it for many people across the country.
I personally put people into 2 yr ARm's with 5 year 5 % pre pays penalty's. Me not knowing at the time how bad this was for peiople yet being taught that thats what to do. thank god for the people who continue to work with them that they can no longer chagre the 5 yr prepays any more. Yet they still charge lesser year pre pays. Another thing FGM likes to do is not pay there employees when they decide to no longer work there. This means any time or deals you may have closed when you were there then seem to jsut not pay you since you leave the comopany.
I dont know how this is legal but im sure i will find out since im not one of those young uneducated kids they hire. Im someone who will press this issue for all it takes. So im just spreading the word on a company who not only rips offs there own employees that made them so much money that would allow the consultant(ummhmmm owner Mr silipigno) build a new 20,000 sq ft house but also to let people know that most likely if your trying to get a refinance done to go elsewhere.
This company is all about the now and with that comes greed and a do whatever it takes mentality when it comes to charging outlandish fees and non disclosure of loan documents.I hope this saves someone the time of working there liie i did or ven more saves someone from dealing with this shady company and perhaps lose your most prize possession , your home. Because thats the most likely scenario if you go to these people for your mortgage needs.
Rich
Saratoga Springs, New York
U.S.A.
I personally put people into 2 yr ARm's with 5 year 5 % pre pays penalty's. Me not knowing at the time how bad this was for peiople yet being taught that thats what to do. thank god for the people who continue to work with them that they can no longer chagre the 5 yr prepays any more. Yet they still charge lesser year pre pays. Another thing FGM likes to do is not pay there employees when they decide to no longer work there. This means any time or deals you may have closed when you were there then seem to jsut not pay you since you leave the comopany.
I dont know how this is legal but im sure i will find out since im not one of those young uneducated kids they hire. Im someone who will press this issue for all it takes. So im just spreading the word on a company who not only rips offs there own employees that made them so much money that would allow the consultant(ummhmmm owner Mr silipigno) build a new 20,000 sq ft house but also to let people know that most likely if your trying to get a refinance done to go elsewhere.
This company is all about the now and with that comes greed and a do whatever it takes mentality when it comes to charging outlandish fees and non disclosure of loan documents.I hope this saves someone the time of working there liie i did or ven more saves someone from dealing with this shady company and perhaps lose your most prize possession , your home. Because thats the most likely scenario if you go to these people for your mortgage needs.
Rich
Saratoga Springs, New York
U.S.A.
1 Updates & Rebuttals
K6kid
Dana Point,California,
U.S.A.
Couldnt be any more wrong
#2UPDATE EX-employee responds
Tue, November 27, 2007
Only because this post is so old I won't touch on it to much. Rich, you couldn't be anymore wrong about this company. Your apparently a disgruntal ex-employee who was supposedly never paid on his loans that funded after he left. Well mr. Rich in order to get paid for work you've done then...you have to do the work!! And being a mortgage broker myslef and an ex-employee of this company I know the dealings that it takes to fund the loans. So apprently you left the company before your loans closed or the recision period and thats why you didnt get paid. A contractor doesn't get paid if he builds a house but forgets the roof.. Make sense? Also if I'm correct they still give you 2 weeks of training before they put you on the sales floor. So how do you not know that a 2 year arm makes no sense with a 5 year 5% pre pay?? I'm confused
