I wanted to get some information about them if I could. Has anyone ever used them or do you know if they are a legitimate company?
Here is there website: http://ascenthomeloans.com/
I don't want to get scammed so I thought I would ask first.
Thank you...
You should go to your State website and look for the office of the State Banking Commisioner and find out if they hold a license in your state. I own a mortgage company in Kansas and I would say you should not do business with any mortagage company that has solicited you, open your local phone book and deal with someone local, these internet companies offer the world and deliver nothing.
Yes i have heard of Ascent Home Loans and they are an excellent company which offers a wide variety of mortgage programs nation wide. On thier website they have the state liscense number which you can verify with the department of banking and finance.
Ascent Home loans is not an internet company and has 10 years plus of mortgage experience compared to many local brokers which have only been in existence for couple of years. Also Ascent is a coorespondent lender meaning they do fund their loan and should not be compared to a small time broker shop.
After 5 months, this is my experience. Good people and leadership. Systems are pretty good. There are a lot of moving parts to keep up with.
Here are my issues:
1. getting paid the correct amount on time. More often than not, this was an issue.
2. closing dept (correspondent), HUD1's were usually wrong initially (per lender instructions).
3. pricing engine rarely matched what came back from the lock desk (worse)
Needless to say, time to move on!
Changing all the time. tough to keep up. For 2 years had a $45/mo. web site and Encompass Anywhere seat.
Now, they are going to do away with the web site unless you pay an upfront fee (to Lion MTS, their backbone) and a $20/mo. fee.
They pulled all processing in house. What a nightmare! Closing Dept. doesn't know what they are doing.
All UW is out sourced.
Looking around.
I have been with Ascent for a while now. We finally got the branch up and running and started to input loans. We went through a very painful, slow transition to forced in-house processing. The first processor did not get to the file for 5 days. Keep in mind this was a PURCHASE deal, where time is of the essence. Finally, the file (after much pressing on my part) was assigned to another processor. Two days later, the file began to be "worked" on. Keep in mind that the LO must input all processing forms anyhow, so paying a forced fee of $495 is a bit steep when the LO is doing all if not all processing (technically). Their processing fee is essentially a padded extra fee that is basically auditing upon auditing upon auditing. It passes three people BEFORE even going to an OUTSIDE vendor. There is NO in-house underwriting. Lastly, and this is the biggie... FHA is padded for their "underwriting" fee (undisclosed to new LO's). THEN, once the glorified day of ******* happens, you must wait for payroll. Surprise! There is a 14.55% UNDISCLOSED "payroll fee" on top of the Turning Point fee of $45 (to keep THEIR name out there). 14.55% is, let's face it, the companies taxes that must be paid on W-2 employees. It is illegal to have a W-2 employee pay the EMPLOYERS side of the payroll taxes. So, you will be double wammied - without as much of a kiss, if you know what I mean. Getting a return phone call is impossible. Especially when you are questioning the pay. There is a reason this is a burn and churn place. Pay big fees upfront and be prepared to give it up again. I am very disappointed that I fell for this. I consider myself pretty darn bright and seasoned in this career field. All I can say kids, is, if it is too good to be true.. beware with caution. This is NOT a 100% split (for banking where their margins are padded but that is another thread), it is the fees minus the 14.55% illegal "payroll fee." And yes, I will be contacting the appropriate authorities/agencies.
I will tell you that I am very familiar with Ascent (too familiar). I have found an outstanding company to work for so if anybody is still looking for a home let me know. Send me a private message and I'll give you details. The #1 thing is there are no start up costs. We have over 12 FHA lenders and are licensed in over 30 states. As of right now we will be in 40 states by end of August and the remaining by end of September or October. Most of the states we aren't licensed in are very rural states. The biggest reason to come over here..... there are no rules. We don't set the rules the LENDER does! Wanna charge an admin fee fine wanna charge a broker fee fine. WE DON'T SET THE RULES THE LENDER DOES! Isn't that who should set the rules any way? We have all the tools you need to be successful. Good luck and I wish you the most success.
I wanted to get some information about them if I could. Has anyone ever used them or do you know if they are a legitimate company?
Here is there website: http://ascenthomeloans.com/
I don't want to get scammed so I thought I would ask first.
Thank you...
Hey,
Even I do not know much about Home Loans. So, if anyone is having any information about home loans please provide the same :)
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Yes, Ascent appears to be a fraudulent and corrupt mortgage broker. They're fake. And they will take your money/fees without providing service. They need to be shut down to protect other unsuspecting people. They just started doing business to capitalize on people who are desperate. Do yourselves a favor and find a real business with honest people. Don't be scammed by Ascent.
If you are considering using them for a lender, RUN as fast as you can! The people buying our house are going through them, and they keep delaying closing for no reason, other than their incompetence I guess. HORRIBLE company!
I have worked for Ascent for 3 years now. Ascent is a mortgage banker headquartered in Colorado and established in 1996. They hire loan officers remotely in 22 states. To say that they are fraudulent or corrupt is an ignorant statement. To say they are delaying a closing "for no reason" is also ignorant. Yes, there have been changes within the company and especially the mortgage industry. Ascent keeps up with those changes and remains the most viable option for experienced loan officers to get their loans closed. I invite anyone who wishes to do serious research to contact the CO attorney generals office. In the three years I have been here, I have seen hundreds of mortgage companies go out of business while Ascent continue's to thrive. I understand that some LOs might get disenchanted with a company for a variety of reasons. But with about 1000 LOs in over 20 states, they must be doing something right.
Quote:
Originally Posted by GlennScams
Yes, Ascent appears to be a fraudulent and corrupt mortgage broker. They're fake. And they will take your money/fees without providing service. They need to be shut down to protect other unsuspecting people. They just started doing business to capitalize on people who are desperate. Do yourselves a favor and find a real business with honest people. Don't be scammed by Ascent.
We are learning more about Ascent Home Loans and why they are a fraudulent company. They hire mortgage brokers all over the country in different states without validating the quality of the people they hire. No wonder they're getting unqualified and poorly qualified individuals who are able to work from home to scam people. That's their business model. Make a quick buck and screw the public. They should be shut down immediately. A qualified mortgage company should have their people directly working for them, not contractors that can screw people without repercussions. Put Ascent out of business quickly! That's the best thing to do for the mortgage business as it gives credible banks and brokers a bad name!
Yes, Ascent appears to be a fraudulent and corrupt mortgage broker. They're fake. And they will take your money/fees without providing service. They need to be shut down to protect other unsuspecting people. They just started doing business to capitalize on people who are desperate. Do yourselves a favor and find a real business with honest people. Don't be scammed by Ascent.
I posted a month or so ago about the issues we were experiencing with Ascent. We didn't use them, but the buyers of our home did.
It took well over two months from the time their loan was approved until closing. Closing was delayed over and over again with a different bogus reason each time. We knew this wasn't the norm because the mortgage company we used for our new home took only three weeks from inital application to closing.
Our buyers FINALLY closed on August 6...we were set to close on our new home August 3, and the contract for our new purchase had to be rewritten two times. If the sellers of our new home had wanted to, they could've told us to forget it since we didn't close by the date of our original contract.
The worst part came on Friday, August 7, when we closed on our new home. When we got to the title company, our realtor was extremely upset and told us that Ascent had neglected to furnish a ******* code, which meant no money had been received, thus we could not get the keys to our new house.
The moving van was set to deliver our things the next morning, so we called to reschedule them for Monday, assuming that Ascent would take care of business first thing that morning. Silly us for assuming that Ascent would do anything as promised. They finally released a ******* code late Monday afternoon, too late for the moving van to deliver our things that day.
They are a horrible, inefficient company, and I would advise anyone even remotely considering using them to avoid them like the plague.
Some person named Jennifer in their Englewood office who was working with the buyers of our home wouldn't even give out her work phone number, only her e-mail address! Professional, huh?
Edit - why was the word "f-u-n-d-i-n-g" blocked from this post??
Last edited by TXTeacher : 09-07-2009 at 07:23 PM.
I really have to object to GlennScams posts. He seems to have an agenda of some kind. My agenda is to not have people spreading falsehoods about the company I work for. When I was hired three years ago I was interviewed, reviewed, and had a background check done on me. So to say that they don't screen their loan officers is another in a series of ignorant statements by GlenScams. With 1000 LOs in over 20 states there are remarkably few derogatory posts about Ascent on this site. Again, I invite you to research with the attorney general in their home state of CO for complaints against the company. If Ascent was as fraudulent and corrupt as GlenScams asserts, why would they still be in business while hundreds of other mortgage companies have gone under?
Ascent appears to be a fraudulent and corrupt mortgage broker. They're fake. And they will take your money/fees without providing service. They need to be shut down to protect other unsuspecting people. They just started doing business to capitalize on people who are desperate. Do yourselves a favor and find a real business with honest people.
I have been with Ascent Home Loans out of Dallas, Texas for over 3 years, almost 4. I enjoy the freedom to build my branch as big or small as I want, with exceptional support and enthusiasm from our Corporate Colorado office. That isn't to say that AHL hasn't had its setbacks, changes and tough times, what mortgage company in this Country hasn't??? Long story short, Ascent Home Loans has made my clients happy, me and my family happy and the industry partners I work with extremely happy. I took a purchase money loan from start to finish in 13 days, NOT 13 business days and not only was the clients' happy, they recommended me to an agent that's been feeding me business on a monthly base from the day I met her, and that was 2 years ago. I'm sorry but I have worked for net branches before, and this to me is as close to the real thing as you're going to get. I don't NEED to be working for anyone GlennScams as I work for myself and appreciate companies like AHL that not only give you the tools, but train every person that comes through the door either in a management roll or loan officer roll to insure they ARE capable to handle things in a more independent format. I consider myself to be an expert in my field and a true professional at what I do. I've been in the industry for 10 years now and whether or not I retire in this industry is another thing, but I know if I do; it will be with a company like AHL. You need to get your facts straight GlennScams, or maybe it's you worked for AHL in the past and YOU just weren't AHL material; so now you're disgruntled about it. People, I hear these stories all the time with critics like this, and it's usually someone that worked for the company that always has the worst things to say about them. Either way, your wrong, and AHL continues to go above and beyond with their services, programs, and support to the client's and their employee's. We would have been shut down a long time before me if they weren't continually setting the bar year after year. If anyone needs a professional Loan Officer or an opportunity to run your business as a "Branch Manager" WITH experience that has to have amazing pricing, rates, programs, and support give me a shout. ~JMill
~JMill
Ascent appears to be a fraudulent and corrupt mortgage broker. They're fake. And they will take your money/fees without providing service. They need to be shut down to protect other unsuspecting people. They just started doing business to capitalize on people who are desperate. Do yourselves a favor and find a real business with honest people.
How would you know if AHL is corrupt, fake, and money hoarders??? I make 100% off my money and pay AHL reasonable closing fees compared to other organization's out there. It sounds like you worked for AHL; Ladies and Gentleman we have another inexperienced, disgruntled former employee here! Better watch out!
Ascent Home Loans, Inc (www.ascenthomeloans.com) has been in business since 1996. They have survived the drastic upheaval in the mortgage industry and continue to grow. I've been in the industry since 1996 as well. Every mortgage company has it's issues right now, but after working for several large competitors that are no longer in business, I feel very fortunate to work in an environment where my opinion is valued and I can provide excellent customer service to my clients. Those that have had issues with Ascent in the past should look more at the borrower's and property qualifications, as opposed to ranting about the lack of ethics at Ascent.
LAWoman007
Have you heard anything good or bad about Ascent Home Loans. 
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