Allpointe Mortgage (Broker Program) - Net Branch Operations

In an email sent out by Allpointe Mortgage on January 16, 2008:

"To All National Brokers:

A decision has been made to discontinue the National Broker program. As of today we will no longer be accepting new applications. Loans in the pipeline will be allowed to close and fund through February 2008."

Allpointe Mortgage, a Pennsylvania Limited Partnership, is a licensed mortgage broker in Pennsylvania, Virginia, Florida, Alaska, Colorado, California, and Michigan, as stated on their web site. In a quote from their site, they "...can also manage loans in all 50 states through a strategic partnership." We tried to find their California License information at the State's multi-division lookup center and found no records matching the name "Allpointe Mortgage."

We contacted Ron Flickstein, Sales Director, National Broker Program by telephone, identified ourselves, and were hung up on. We left a voicemail for him but he did not respond. In our next call days later at least he said he was not willing to talk to us.

We reviewed Allpointe's "ASSOCIATE SERVICE AGREEMENT" as obtained from a California Broker and found the following:

ADDRESS REQUIREMENTS

Associate shall utilize Smart Money Mortgage name & address only, on all documents, which is:

Smart Money Mortgage
29910 Ohana Circle
Lake Elsinore, CA 92532

We asked Smart Money Mortgage, Inc. how this affiliation worked and owner Wayne Kim relayed to us a "no comment." Smart Money Mortgage, Inc. DOES hold current California DRE and CFL licenses.

Further details or information are always appreciated. Please let us know.