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  • Report:  #501909

Complaint Review: Surepoint Lending - First Residential Mortgage - Louisville Kentucky

Reported By:
JR - Brentwood, Tennessee, USA
Submitted:
Updated:

Surepoint Lending - First Residential Mortgage
www.surepoint.com Louisville, Kentucky, United States of America
Phone:
Web:
N/A
Categories:
Tell us has your experience with this business or person been good? What's this?

Hopefully, if you are thinking of working for this company, you checked here first.  Surepoint Lending is just your run of the mill "mortgage sweatshop".  I worked there for almost two years, so take this as one persons advice.  Your manager will require you to work long hours sometimes 60 hours per week there.  They even pressure you to come in and call customers on Saturday and Sunday! All for 100% commission.  The pressure to make loans here is ungodly, loan officers frequently lie and "lowball" interest rates, just to get a customer on board with the loan.  Table selling, or telling the customers their rate is actually higer than the origional quote when they are at the closing table was very common here.  Loan officers would often quote rates 1% lower than we could offer at the time, only to lure the customer in.  Managers will often call meetings, to curse at and berate the loan officers because you have not made enough phone calls, or you did not take enough applications or order enough appraisals, etc. 



They will also put high pressure on you to pay to get licenced in other states.  Sometimes taking 100's of dollars out of your paycheck for it, leaving you with almost nothing to live on until the next check.



When you decide to work for this company, you better be willing to put your family and friends aside, because you wont be doing anything other than working your butt off for them. 



I'm sure Libby from "customer care" is going to rebutt this post.  Just take this as one persons advice, there are a lot of other mortgage companies out there.  You dont have to give your life to this one.



4 Updates & Rebuttals

Craig Royal

Carmel,
Indiana,
United States of America
Surepoint Lending is an Outstanding Company

#2UPDATE EX-employee responds

Wed, August 25, 2010

I want to first off say that any individual who is cowardly enough to hide their identity so they can spread false accusations about any company, is unethical.  Surepoint has been a great company to work for and has taught me alot.  I have since moved on from Surepoint to start my own business, but the time I was there (2006-2009), I learned a ton about business, ethics, and treating your employees with respect because they are the backbone of the company.

Saul and Jordan are the owners of the company, but also work their butts off to keep the employees happy.  With the motta "Fair plus one", they strive to meet everyones needs.  I worked for 3 seperate General Managers while at Surepoint and never was asked to do anyting unethical.  Don't get me wrong, when you work for a company with 500 people, there are unethical people who have done unethical things.  They have also lost their jobs.  I would have to assume the people who write these things were not successful at Surepoint because of laziness, inability to put 100% into their job, or inability to follow instruction. 

For anyone who would heed advise from a website that doesn't verify the accuser, you are better off asking someone who failed out of Harvard if Harvard is a good school.  Chances are you are not getting an unbiased point of view.

Take it for what it is worth!


Pete Tuff

Kentucky,
United States of America
Libby Jones does not exist

#3UPDATE EX-employee responds

Fri, July 30, 2010

First of all...Libby Jones isn't a real person.  "Libby Jones" consists of several people who's sole job is to put out fires at Surepoint when people get ripped off.  And believe me, "Libby Jones" has her work cut out for her.  Given the fact that the employees at SurePoint are trained and encouraged to lie to their borrowers about closing costs and interest rates, they are constantly pissing homeowners off and bullying them into signing at the closing table due to the amount of time that has already been invested into the loan.

Second, I want to touch on the original posters message.  Nothing that they have said in incorrect.  SurePoint Lending is a terrible place to work.  IT IS A SWEATSHOP!!  And they are constantly finding ways to screw you out of pay, be it surprise fees at closing that come out of your fee check, or licensing demands that get withdrawn from your pay.  If you are interested in working in the mortgage business, I would strongly suggest looking elsewhere.  This company will strip you of all your free time and hands out silly call times at random times and weekends.  On top of the horrible hours and treatment by GM's, SurePoint literally has the worst interest rates and closing costs in the industry.  It's hard enough to convince a homeowner to use you for the most important financing decision of their lives, but when you are competing against 3-5 other lenders/brokers, it is very hard to secure this business when SurePoint consistently offers rates that are 0.25% - 0.5% higher than EVERYONE else.  Why the high rates you ask?  Because the owners are greedy and have to pay for all the crappy loans they've had to buy back.  Oh, and the closing costs...those are ridiculous as well.  The closing costs through SurePoint are generally $2,000 - $6,000 higher than EVERYONE else.  This also makes it difficult to close a loan working for SurePoint because everyone is going to shop your rates and costs. 

In regards to "Libby Jones'" comment about being the recipient of the "Best Place to Work in Kentucky" award...Before this questionairre is sent out to the employess, you are sent an email from the owner of the bank stressing you to give SurePoint a high mark.  This point is reiterated again in your weekly meeting with your GM.  It is practically demanded that you blow sunshine up the asses of the people who conduct the Best Places to Work poll.  It really is a joke.  That's why SurePoint funnels in at least 20-30 new employees every two weeks, because the turnover there is astronomical.  The company is a joke, their rates are a joke, and I can't honestly believe they are still in business.  Of course, I know how they are hurting for money, so hopefully they won't be in business much longer.  Keeping my fingers crossed...  And this is coming from a person that left SurePoint on good terms.  Just thought people should know the truth about this slimeball bank.


Rick

Maumelle,
Arkansas,
United States of America
Great Experience with Surepoint

#4Consumer Comment

Sat, December 26, 2009

I have had a wonderful experience working with Bobby Dawson at Surepoint. We had been trying to get refinanced since September. Everyone was dragging their feet for some reason. Then I got Surepoint and Bobby Dawson. He jumped right in and got everything started. We wanted to be closed the middle of December. He said no problem. They was amazing! Everything went right as the said it would and we closed with 5.0% and combining first and second mortgages. What a deal and what a great service. Bobby Dawson will be our mortgage guy from now on. Thank you and God Bless. P.S. I am a disabled Veteran and I would not mind working for them if I could do it from home.


Customer care

Louisville,
Kentucky,
U.S.A.
Excellent Emplyment Reputation

#5UPDATE Employee

Wed, October 14, 2009

JR -

Sorry you had a bad experience. I'm surprised you stayed with us for 2 years considering your comments.  SurePoint does require some work hours outside of the traditional 9-5 schedule to be successful.  We also make that clear in interviews and upon hiring.  Since we need to spend time on the phone with our customers, most of whom are available after their work day or on weekends, we have to make ourselves available to our customers when it is convenient to them. 

Again, I'm sorry you had a bad experience, but we take pride in the fact that we have been named Best Place to Work in KY. That award is based off of employee feedback and considering we have 500 employees, we feel that makes a strong statement.  We are also proud to have won the BBB Torch Award for Marketplace Ethics and Integrity this year, and to have been named the finalist in previous years.

Best of luck to you,

Libby

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