Daniel Sadek,
Quick Loan Financing
Quick Loan wrote $3.8 billion in mortgages, lending money fast – and often on onerous terms – to people with shaky credit. "I've sold all my cars to keep the company going," says Sadek, 38. "Every property I own is mortgaged to the max." Quick Loan has been accused of predatory lending, deceptive underwriting and fraud in at least eight lawsuits.
High Roller Of Home Loans
2007-12-18: Deal With The Devil Dec. 18 (Bloomberg) -- One week in 2002, Daniel Sadek was $6,000 short of covering the payroll for his new subprime mortgage company, Quick Loan Funding Corp. So he flew to Las Vegas and put a $5,000 chip on the blackjack table.
"If we had a prime borrower on the line, we hung up on them,'' Buksoontorn says. "We were geared toward subprime because they were easier to close. We were giving them money no other bank would dare to give them.''
original post by Tyrone for realestaterecord.blogspot.com
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