American Home Mortgage says it needs ...

American Home Mortgage says it needs a 'crisis' PR firm -

There are 31 comments on the Newsday story from Aug 30, 2007, titled American Home Mortgage says it needs a 'crisis' PR firm -. In it, Newsday reports that:

Creditors are angry over a request by American Home Mortgage Holdings to hire a PR firm, accusing the bankrupt Melville lender of trying to put its "best face forward .

Join the discussion below, or Read more at Newsday.

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I Miss American Home

Newark, NJ

#25 Sep 3, 2007
American Home was the best company to deal with when they were around. I think they are getting the raw end of this deal. It was just a bad market. It could and has happened to other banks.I like them and will miss them
you wish you knew

Pleasantville, NY

#26 Sep 4, 2007
FYI- No one that is still employed at AHM is getting paid double time. Get your story straight before opening your mouth. Your just mad you weren't one of the people picked to stay. They did say they picked the BEST OF THE BEST. If you were still here they couldn't say that, now could they???
ahm no more wrote:
As some of you might know already is that by law the company must inform employees 60 days in advance that the company will go under. Also management promised us that we would receive or vacation pay. As of today no one has received it. To make it worse is that the employees that are still working are getting paid dble time. All we want is what was promised to us.
Rush

Essex, MD

#27 Sep 4, 2007
Anna wrote:
Guys,
I have a question I am hoping you can answer for me.
Why did AHM modify the ARM rates to current market rates to salvage the defaulted loans?
From a logical stance it seems like their stance is/was, pay us 9% or nothing. The investors would rather loose 90% of their investment than to keep 70% to teach you all a lesson for getting into these ARM programs.
It just doesn't make sense to me.
So many people that had good credit couldn't refi out of these loans, as planned, because the real estate took an unpredicted tumble.
They are blaming the borrowers for something that Bear and Streans couldn't predict, who invested billions in these mortgage backed securities. The so called experts didn't see it coming.
AHM tells borrowers that they can add 30% of the mortgage payment they already can't make becuase it has increased 50% to help them out, resulting in an 80% increase. And still ding their credit.
This is moronic -
ANNA, Do you have a loan with AHM? If so contact me, I have a lawsuit pending against them and helping others. Visit my web site lenderliabilitylaw.com I'd like to talk with you.
former loan sale employee

Islandia, NY

#28 Sep 5, 2007
"FYI- No one that is still employed at AHM is getting paid double time. Get your story straight before opening your mouth. Your just mad you weren't one of the people picked to stay. They did say they picked the BEST OF THE BEST. If you were still here they couldn't say that, now could they???"

They didn't need to pick the BEST. But they should have picked a few from each dept. One person there called to find out where things were because she didn't know anything about the type of loans we sold. If they would have kept a few of us, we would have been able to get them sold. There was no thought. And a person from the fileroom doesn't know what a Bond loan is or how to sell it. Some of us were still selling loans until thursday. But we couldn't get the purchase advices to Tania, because we weren't there.
Nothing New

AOL

#29 Sep 5, 2007
you wish you knew wrote:
FYI- No one that is still employed at AHM is getting paid double time. Get your story straight before opening your mouth. Your just mad you weren't one of the people picked to stay. They did say they picked the BEST OF THE BEST. If you were still here they couldn't say that, now could they???
<quoted text>
It's obvious you were hand picked, what have you done to help in the last month other that earn a paycheck that you did not deserved. I am quite sure you wrote this on the company's time, that tells me you should are not 'THE BEST OF THE BEST' you are one of those that abused the system as you have done in the past and it goes to show to the public to the very end you are still at it. Ask yourself what have you accomplished in the last month? Other than earn a paycheck that you did not deserve.
Don't worry the Unemployment line would not refuse you and then you will be just like the rest of us.
AHMer

New Canaan, CT

#30 Sep 5, 2007
you wish you knew wrote:
FYI- No one that is still employed at AHM is getting paid double time. Get your story straight before opening your mouth. Your just mad you weren't one of the people picked to stay. They did say they picked the BEST OF THE BEST. If you were still here they couldn't say that, now could they???
<quoted text>
Obviously you don't work at 520 b/c that's not how they chose who stayed on. They asked middle management (i.e. Deal Managers, etc) to stay and if they declined, they then chose someone to replace them. Maybe they chose the best butt kissers, definitely NOT the best or hardest workers. Look who is still working there....POINT PROVEN.
Nothing New

AOL

#31 Sep 6, 2007
AHMer wrote:
<quoted text>
Obviously you don't work at 520 b/c that's not how they chose who stayed on. They asked middle management (i.e. Deal Managers, etc) to stay and if they declined, they then chose someone to replace them. Maybe they chose the best butt kissers, definitely NOT the best or hardest workers. Look who is still working there....POINT PROVEN.
Well said, you could not have said this any better. Good Job! I hope 'THE BEST OF THE BEST' got the message. And I think we all are aware of who this person is, based on the dumb comment they made. And we all know that they are so dumb that they could not even sell a loan without asking for help.
OptionNext

Bronx, NY

#32 Sep 6, 2007
Former AHM Emp wrote:
I just want my vacation pay....Instead of this nonsense, pay the employees what they deserve. What an absolute disgrace.
The employees dont deserve a damn thing. Ive seen the loans they write. Just wait until they start auditing files.
Nothing New

AOL

#33 Sep 7, 2007
OptionNext wrote:
<quoted text>
The employees dont deserve a damn thing. Ive seen the loans they write. Just wait until they start auditing files.
You are obviously the biggest a$$ out there, are you an Auditor? I hope you never get on the same side of the fence like us.
Anna

United States

#34 Oct 4, 2007
The employees dont deserve a damn thing. Ive seen the loans they write. Just wait until they start auditing files.

OptionNext,

It is coming. And I cannot wait.
Read the bankruptcy petitions. EVERYONE is catching on to the corruption in that company.

They turned people's homes in to hedge funds.
There is a tape of a conference on the web where executives and Strauss are laughing about this.
And stating that it is not "politically correct" to say so, but these stupid borrowers are hedge funds"

They are going down -

Since: Oct 07

Tel Aviv, Israel

#35 Oct 9, 2007
I am a foreign retail AHM investor.
I can see employees and clients have very bad stories to tell about them.
I lost some money because I trusted the management and didn't get the clue from the fine print of the Yahoo News I was reading.

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