Argus Lending

IF YOU ARE CONSIDERING BECOMING A BRANCH OF ARGUS LENDING OF PLEASANT HILL, WHICH WAS A DIVISION OF AMERICAN MORTGAGE PARTNERS, SANTA ROSA UNTIL 4/15/2012 THEN HERE IS WHAT YOU SHOULD KNOW OF A FEW OF THEIR RECENT ACTIONS.

MAKE THEM PUT EVERY LITTLE DETAIL IN WRITING, NO MATTER HOW SMALL. RECORD EVERY CONVERSATION IN PERSON.

INFORM THEM EVERY PHONE CONVERSATION WILL BE RECORED. YOU WILL SEE IT WILL HELP YOU LATER WHEN YOU ASK FOR AN WRITTEN RESPONSE VIA EMAIL AND TODD OR JOE WILL ONLY GIVE IT VERBALLY!!!!!!

THEY DID NOT HONOR THEIR WORD OR CONTRACT(s)

THEY SET UP TWO BRANCHES WITH PHONE, OFFICE, BUSINESS CARDS, SIGNS, SUBLEASE, ETC. THE FIRST PRODUCING BRANCH THEY TOOK LOANS FROM AND CLOSED THEM LATE APRIL AND EARLY MAY BUT HAS NOT EVER PAID COMMISSIONS OR SALARIES OWED TO THEIR W2 EMPLOYEES FROM THOSE LOANS!!
ALL THOUGH ALL CONTRACTS, LIMITED PARTNERSHIP AGREEMENTS, ADDENDUMS WERE FULLY EXECUTED THEY LATER CLAIMED NEITHER BRANCH WAS EVER SET UP, HUH! SO THEY TOOK THE MONEY AND LEFT THE EMPLOYEES HIGH AND DRY!!!

THEY MAKE PROMISES THEY DO NOT KEEP. JOE PENNINGTON (CEO) HAS MADE MULTIPLE PROMISES TO PAY THE COMMISSIONS ON CLOSED THE LOANS BUT AS OF (06/04/12) THEY HAVE ONLY MADE THREATS, NO PAYMENTS FOR OVER 40 DAYS!!!!

TODD CLAUS & JOE PENNINGTON DID INSTRUCT THE BRANCH TO CREATE AND SUBMIT A "MARKETING INVOICE" AND THEY WOULD PAY THEM UNDER IT. WHY ASK EMPLOYEES TO BE PAID COMMISSIONS AND SALARIES USING A BOGAS INVOICE?, ISN'T THAT ASKING THEM TO KNOWINGLY PERPETUATE AND PARTICIPATE IN "FRAUD?" OR IS IT JUST TREMENDIOUSLY SHADY?

THE CORPORATE LOAN OFFICE ALTERED A LOAN APPROVAL (REMOVING CONDITION) NOT MET. THE SAME LOAN OFFICER SOLICITED OUR CLIENTS AFTER THE FACT.

BECAUSE OF "HORRIBLE PERFORMANCE AND ARGUS CAUSED DELAYS ARGUS WAS FORCED TO PAY THE CLIENTS $100 PER DAY PER DIEM FOR CLOSING LATE.

THE TOTAL WAS FOR (16 DAYS) AND ARGUS STIFFED THE CLIENT AND ONLY PAID $1,000 FOR (10) SO THE BORROWER HAD TO PAY THE REMAINDING $600 (6 DAYS) OUT OF THEIR POCKET WHEN IT WAS AGREED ARGUS WOULD PAY IT. EVEN WHEN IT IS CLEARLY THEIR FAULT THEY FAIL TO DO RIGHT. THERE ARE MANY, MANY MORE ACT NOT MENTIONED.

WE WILL KEEP YOU INFORMED OF THE STATUS OF COMPLAINTS AND ATTORNEY ACTIONS.