Washington, Missouri
5 comments

We are all "big boys & girls" any business venture you consider should be researched to your satisfaction. I contacted my state Attorney Generals Office, and was informed over the past 36 months their had been 5 complaints. All were resolved to customers satisfaction.

Then I checked out nation wide, there were 108 complaints in a 36 month period. with a dozen pending.

As to the SMART loans, for the short period I have been with Primerica, I haven't had any loans at or near 9%! All much below. and a wide range of credit scores.

Before Primerica, I had been in real estate for 12 years and mortgage lending for almost 3 yrs. I have seen how both take advantage of the comsumer. Use your head check things out. What is good for one may not always be good for someone else.

Each office has it's own atmosphere, the one I am associated with is great, I have never had so much support when I needed help or had questions.

For those of you that had a bad experience with Primerica sorry it didn't work out, but be an adult and let others do their own research and see for themselves.

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Anonymous
#18795

FYI, 99% of the loans I did were full-doc 30year fixed loans. I didn't get anyone into this mess.

"Primerica NEVER sold one of the sh**y loans to a client that could not handle it. Their loans actually help people and do the right thing for families"

Keep drinking the Kool-Aid. See my post on "not-so-SMART Loan" and you'll understand what a scam it is.

Anonymous
#18592

Written by BS alert..."Accept the pennies on the dollar compensation they pay you compared to what you would be making by doing a better loan with any broker shop"

This is exactly the point!! With the housing market crumbling and millions of Americans losing their homes, you ought to be ashamed of yourself.

Average mortgage brokers like you got us into this mess by selling loans that were not good for the buyer just because you wanted to get paid. Primerica NEVER sold one of the sh**y loans to a client that could not handle it.

Their loans actually help people and do the right thing for families. Their reps get paid less to offer them, but they are satisfied with a lower compensation because they know they are doing the right thing.

Anonymous
#18258

I would never take a pay cut to "help" anyone with something I can do without loss to my own goals.

Again, once you REALLY understand, you're not getting anyone "out" of debt by putting them in a smoke-n-mirrors loan that is excessively high-cost and carries a pre-payment penalty. As a mortgage broker, I'd love to show them how to simply get a 20-year mortgage, without the crazy fees or pre-payment penalties. Why can't one of you admit either:

A) the SMART loan is a sham

or

B) you don't really understand the 5-10 explanations of typed on this site showing why it's a sham

If you TRULY cared about ANY of your clients, you'd study the SMART loan really closely and see just how bad it is before sticking someone in it.

Anonymous
#18168

The point is that she's NOT a mortgage broker anymore, she's a primerica rep, and she has a responsibility to get people OUT of debt, not keep them in it. That's WHY we get paid pennies on the dollar for loans. We don't WANT motivation to sell loans, we want to replace loans SOLELY to free up money to invest for retirement.

Which is why I can sleep at night.

How about yourself? When was the last time you were willing to eat a pay cut to do something you believed in for total strangers you legitimately cared about despite not knowing them personally that well?

Name one good reason to go into mortgage lending other than money.

And one way you get paid other than to refinance the client back into another mortgage every few years?

Just curious. And for the record, I wondered that LONG before I'd ever heard of Primerica.

In the meantime, to the author of the original comment/review... kudos for having a level enough head to do that research in advance... that's smart. almost... S.M.A.R.T., even. :grin See you at the top!

Anonymous
#17007

If you were in the mortgage business for almost 3 years and:

A) Can't see through the SMART loan's smoke & mirrors

and

B) Accept the pennies on the dollar compensation they pay you compared to what you would be making by doing a better loan with any broker shop

then you ought to step back and think things through.