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Maverick Residential Mortgage Shuts Doors!! Another One Bites The Dust!!

I wanted to wait and post this until after we made Lender Implode. Well, we have now and even made the Channel 11 News.

Rumors abound that the CFO went missing with $4MM and the FBI is on the case. But all that I can confirm to you is that payroll was yesterday and we did not get paid!!! NOR are they communicating with us WHEN we will get paid!!!

Moving forward:

Tom Burris & DallasLoanGuy.com is portable. As soon as I digest the 10(edit: make that 20+ so far) recruiter calls and countless emails I received yesterday, I will hang my hat with a reputable lender. I suspect that I will only be down for a couple of days(+ any days I go fishing ;-0)

I feel really sorry for the salaried people who may have a tough time getting a job right now. There are so many people job hunting from this industry that it is going to be tough. But as we all know, production people have their choices of jobs.... and that is a very good position to be in right now.

Thanks for the well wishes.

Tom Burris
DallasLoanGuy.com
Dallas, TX

"A Home Loan for Every Texan"

http://www.dallasloanguy.com/

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Posted by Tom Burris | FHA VA & Conv. Texas Mortgage Loans on 01/16/2008 10:09 AM

Comments (29)

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Originally posted at: Texas Home Loan Blog: Maverick Residential Mortgage Shuts Doors!! Another One Bites The Dust!!

29 Comments on Maverick Residential Mortgage Shuts Doors!! Another One Bites The Dust!!

JAN

2008

Wow Tom, I just listened to the report. I do feel sorry for those salaried employees. Let us know where your hat lands. You are right production people do have their choice of jobs; that is one of the beauty of our business. I have been with several real estate companies and made the changes without a blip. Good luck with your choices.

Tom- what a shame! I know you'll land on your feet for sure. Your clients worked with YOU not your company.

Marchel: Yep. Just gotta send out a mailer and update the website.

Linda: Yes... they rarely know who my lender even is....

Tom.... you have been in this long enough to know that yes, you will find a job. But making that choice is the hardest thing... finding someone that you feel comfortable with.

On another note, that does suck about the salaried employees.... good luck and call me for anything.... well, almost anything. ;o)

so when the employees do get paid will you write an article about that I wonder? It is my understanding that the Maverick guys are jumping through hoops to try to get eveyone paid and have not given up on doing so yet. I wonder what you would do if YOU just found out your company was stolen from. Most companies in this situation just put a lock on their door with NO explaination to it's people. It is my understanding that the company is making all efforts to get people paid. Maybe giving them a few days would be reasonable before writing scathing essays and putting it on the web. You should be upset at the jerk who stole the money thus ruining many lives an destroying a very good company.

Jeff: Thanks for your support.

Voice of Reason: To answer your questions.... I may update the article if the employees get paid. But management is not communicating.... so I do not expect much. If I would have gotten some kind of official email or other announcement from the boss, I would have more hope. Instead, I get a phone call the evening before payday from my branch manager about no paychecks in the morning. And the owner mentioned knowing about the 'cash crunch(no mention of stolen money)' last week?!!?!
What would I do if my company was stolen? UH, that wasn't mentioned on the CH. 11 news by the owner.

I stand behind the facts 100%.... THEY ARE NOT COMMUNICATING WITH THEIR EMPLOYEES. My branch manager has to drag info out of someone up there.... but NOT ONE communication from the owner or anyone else in management.

I have heard the rumors too.... that money was stolen. I am upset with that person. However, the company has not sent one official communication to it's employees that I have seen so far. Therefore leaving a bad taste in a lot of people's mouths about this formerly Great Company.

Again: I stand behind the facts. Nothing scathing, just the facts.

Good Luck ex-Mav Employees!!!

Hey Tom... I go back to my original opinion of when you first told me you were moving to Maverick!! Keep me posted!

Oh no Tom! I'm so sorry to hear this. Please keep us informed as to where you'll be. I think it's time for another happy hour and we can help you forget about this for a little while.

Donna: I was never 100% comfortable. But I will transition with ease.

Lorrie: LOL.... I didn't get paid. I may not be buying until next month. ;-)

Don't worry, Tom. I can't speak for Karen, but I think we both owe you at least one each!

Tom - I know you will make a move for the better. This is a becoming very common these days with lenders. I wish you the best.

JAN

2008

Tom,

I am really sorry to hear that...I hope you find a good place to call home!

Candy: Thank you.

John: Thanks. I got you email. Trying to get back to everyone.

JAN

2008

John: Not good news. Sorry to hear about it.

JAN

2008

Hi Tom: Sorry to just be getting around to reading this now. I am so sorry about Maverick. Honestly, I never even knew that you were with Maverick. It has always been Tom Burris | Texas Home Loans. I know you will land on your feet. Take care, Tom. You are in my thoughts. If there is anything I can do, please do not hesitate to ask.

Karen: Thanks. I have had a week for sure.... lots of offers. I will be settled in a few days.

Good luck. It is tough to find a good place.

Thanks Don: The hard part is picking a corporate culture that fits me and my business. I had to weed thru a lot of fly by nights.

JAN

2008

I heard through the grapevine that you are getting "Primed"! Let us know when you resurface!

Hi Tom. Sorry I've been away from AR lately. Working too much. So sorry to hear about this and hoping you get a better place to work. Looking forward to hearing from you soon. Catch lots of fish!

JAN

2008

Lorrie: Yes, I have been 'Primed'

Ricki: I took a week and checked out all of the usual places.... I am settled. Thanks

Tom, I was thinking what a perfect time it would be for your move to the Hill Country.:)

uh, i was unemployed there for a few days.... dont know how much house i could buy. LOL

Was just thinking how much we could use a good loan guy down here.:)

Hey.... I have phone/fax?!?!?!?!

And I will commute if it is big enough. ;-)

FEB

2008

OMG! Tom I am so sorry! We need to talk. My life is crazy as well but this really stinks!! YOU are who makes your business work, not the company. I have no doubt you'll be on your way to bigger and better things. You are in my thoughts and prayers.

Lorrie is correct we do owe you more than one IMHO...

Tom, my thoughts and prayers are with all associated with Maverick. I just don't know what I'm going to do! I live in Wise County and the first name that came out of my mouth when someone asked me about a local lender was JJ Wilson at Maverick Mortgage here in Decatur.

I have been a little out of the loop with a fractured ankle, so when I instructed a new contact day before yesterday to stop by JJ's office and see what he could do for her and she called and said there was a note on the door that said "No longer in Business", I WAS MORTIFIED for those four people and their families in that office. I feel sure that, like you, they will bound back, but it has to be so traumatic in so many ways.

God Bless you all and please remember, "If God has brought you to it, HE WILL bring you through it."

HEY, and if you need a change of scenery, COME TO WISE COUNTY and set up shop! And of course, if you EVER need a GREAT Realtor, give me a call.

Karen: Talk to you soon.

Kathy: LOL.... have laptop/will travel. Thanks!!

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