Arizona Mortgage Broker to Donate $200 Per Loan
Michael George, branch manager for American Mortgage
Specialists, in Chandler, Arizona, has pledged to donate $200 for every loan
his branch closes in 2005, subject to a minimum loan amount of $175,000. The original plan was to donate the money to
the Disabled American Veterans, but George will honor any special request by a
borrower. American Mortgage lends in California, Arizona and New Mexico.
But you know, there’s always a hole in the silver lining
(?). Follow this. The press release announcing this pledge was
put out by Karen Blodgett of KOG Enterprises.
KOG Enterprises is a developer of realtor and mortgage broker websites
and they provide search engine optimization.
KOG Enterprises also maintains RateLab.com, a referral site for realtors
and mortgage lenders. And here’s what
makes me cry: the press release says that “Recently, American Mortgage Specialists
found out (emphasis added) that they were featured on RateLab.com.”
Oh please, the contact for the press release for American
Mortgage is associated with Ratelab.com, a referral site for lenders on which
American Mortgage appears, and American Mortgage just found out they were
listed. If you believe that, I’ve got a
30 year fixed rate loan for you at 1.25%.
And not for nothin’ but American Mortgage Specialists is
listed as the lender with the best APR (as of today’s listings) even in states
where they don’t lend. There’s something
screwy here Lucy!
Update: Mr. George
has written to note that he was in fact contacted by KOG Enterprises first -
that Ratelab was built for AMS after that contact; so I stand corrected. I also
stress that Mr. George’s contributions, of his own money, deserve high
compliment. Lastly, Ratelab will be
corrected to remove AMS from states where they are not licensed.