Sub Prime Mortgages/loans and secret commission

[johannab]

Hello again HomerJSimpson,

 

After you discovered ge paid them 10% what happened? Did you pursue it ?

 

I have had quite a time away from Cag and am just returning now. I am going to pursue this and get onto sar'ing GE's solicitors.

 

Jo

[wishboneash]

hi mine was through gmac was never advided to go to debt management plan or extend the mortgage term ? used gmac to pay off loans

 

any used any companies for misselling ?

mine was through the TML

[steveoram1]

This is the GE underwriting guide showing all of the secret commission rates paid to intermediaries. Don't ask me where it came from and I won't tell!!

Rip off GE.pdf

[frettful38]

Hope this is useful for people

 

Important County Court decision could impact on lenders and brokers - Bridging And Commercial

[Doc2527]

This is the GE underwriting guide showing all of the secret commission rates paid to intermediaries. Don't ask me where it came from and I won't tell!!

 

hi steveoram1

 

have these rates been verified as yet?

i used to have a few GE Loans since been paid off though...would love to see what commission the barstewards got????

 

hi frettfull

 

great article!!

 

doc:-)

[frettful38]

glad you like it doc2527, least there is hope for many

[Dougal16T]

This is the GE underwriting guide showing all of the secret commission rates paid to intermediaries. Don't ask me where it came from and I won't tell!!

 

Good evening

 

It would be good if it could be seen...!! I am having a problem opening this...!!

 

Best wishes as always

 

Dougal

[dirkuberpower]

since mortgage day in November 2004 commisions have not been secret. they the procuratrion the broker receives from the lender, they are listed on the key facts illustrations and mortgage offer.

 

this is also not a charge for the consumer, its a fee for the lender to the broker for arranging the mortgage as this is how they get paid.

[42man]

That is true on mortgages but this thread is on sub prime loans - http://www.out-law.com/page-8928

[wishboneash]

hi mine was with them too gmac

[andrew1]

Ditto: http://www.consumeractiongroup.co.uk/forum/showthread.php?284485-GE-%28Secret-%29-commission got the same problem. If they have to blank it out, how can it not be something they don't want us to know - ie SECRET?

[maybelline]

I too have been refused the underwriting sheet by Ge, formerly IGroup (now IGroup2)?? formerly Ocwen - that in itself is confusing and they claim to be something else again whenever you write to them!?! - did supply some redacted info which of course speaks volumes. Does anyone have an address for Bernard Elliston and Co?

 

PS Sub Prime Mortgage not secured loan

 

(they are attempting to repossess)

Edited November 26, 2010 by maybelline

[wishboneash]

hi mine was through the tml in 2001 via gmac ? have put i claim

[wishboneash]

whoops put in claim by a claims firm

[dirkuberpower]

hi mine was through the tml in 2001 via gmac ? have put i claim

 

Tml went bust in 08. Its also not under fos jurisdiction so you are on to a loser. You can take your complaint to fscs though, but good luck.

[wishboneash]

hi thought a few firms went under but the are still FOS ? ?