Comments on: JAM Invests $3.5 Million in Security One Lending

By: Anonymous

Anonymous — Thu, 12 Nov 2009 20:57:00 +0000

Kudos to the management team at Security One Lending that has led them to this point. rnrnAnd I appreciate the fact that we can, in our industry, act with decorum when we have a dispute. My thanks to you all for resolving this issue in an open and responsive way without bludgeoning one other with words.

By: Louise321

Louise321 — Thu, 12 Nov 2009 18:57:12 +0000

Kudos to the management team at Security One Lending that has led them to this point.

And I appreciate the fact that we can, in our industry, act with decorum when we have a dispute. My thanks to you all for resolving this issue in an open and responsive way without bludgeoning one other with words.

By: Anonymous

Anonymous — Thu, 12 Nov 2009 17:37:00 +0000

Mr. McNichol,rnrnWe appreciate your frankness and thank you for your thoroughness. It is our intent to diligently monitor our situation. We are not perfect and appreciate your watchfulness. If and when problems arise, we want to correct them immediately. We promote this product because of its unique ability to help seniors and want to avoid causing harm to our industry at all costs.rn

By: James_E_Veale_CPA_MBT

James_E_Veale_CPA_MBT — Thu, 12 Nov 2009 15:37:35 +0000

Mr. McNichol,

We appreciate your frankness and thank you for your thoroughness. It is our intent to diligently monitor our situation. We are not perfect and appreciate your watchfulness. If and when problems arise, we want to correct them immediately. We promote this product because of its unique ability to help seniors and want to avoid causing harm to our industry at all costs.

By: Kevin McNichol

Kevin McNichol — Thu, 12 Nov 2009 11:09:28 +0000

This took place several years ago. I did report it and also contacted the lender. The piece was a bit misleading and was one that was sent without approval,by a single LO.
Years ago it wasn't unusual to see some misleading mailers most likely a result of a less than complete understanding of the RM and not an intentional attempt to take advantage of anyone.
Marketing today is no comparison to what it was years ago due to exactly what you point out in terms of centralized compliance and approval processes and and complete understanding on the part of LO's.
I offer my sincere apology to all at Security One. I offer my apology to all industry participants. My comment was not well thought out and without question inappropriate.

By: James_E_Veale_CPA_MBT

James_E_Veale_CPA_MBT — Thu, 12 Nov 2009 04:46:07 +0000

Please see my comment below immediately following Mr. De Markey's. Thank you.

By: James_E_Veale_CPA_MBT

James_E_Veale_CPA_MBT — Thu, 12 Nov 2009 04:40:58 +0000

Mr. Mc Nichol,

As an officer of Security One Lending, Inc. I echo the statements of Mr. De Markey and ask you to provide a copy of the ad to NRMLA. I have also asked our marketing deparment to internally investigate this matter by starting with a call to you at 888-714-1543, a number you left in a comment to a RMD article dated 7/27/2009. Could you please provide our investigators with a copy of the ad? We take charges of this nature seriously.

Our direct mail marketing is done mainly by individual loan officers. All such marketing is to be approved by our marketing group in advance. If someone is violating policy we want to stop that practice immediately.

By: Andrew Milks

Andrew Milks — Thu, 12 Nov 2009 01:29:16 +0000

This is a pretty serious accusation. If you are going to accuse a corporation of untruthful advertising, you really should back it up with some evidence such as a photo.

This is harmful to a company's reputation and should be taken seriously.