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Gregg Marcus is a Financial SCAM ARTIST and Convicted Felon.
For your own sake do NOT do Business with him.
GREGG MARCUS is Currently in the INSURANCE BUSINESS. He would have you believe that he has years of Insurance Experience, But truth be told its only his first year. He was actually a Sub-Prime Mortgage Broker up untill 2010 when he was Forced out of the Industry. Marcus and his Wife Owned Somerset Mortgage Lenders Co. which was Forced to shut down and is now out of Business.
Gregg Marcus had Problems with HUD and The Federal Housing Admin. for Closing Bad Loans. After a March 2010 audit by HUD’s Inspector General. Marcus had to return $2.8 million in insurance payments to the agency because of “significant underwriting deficiencies” in the firm’s loans.
Here is a Link to an Article that Explains what Happened in Detail:
http://www.thecuttingedgenews.com/index.php?article=21596&pageid=&pagename=
He is known in the Financial Industry as a "Bait and Switch" Broker. What that means is that He will Quote (Sell) You a very Attractive Deal and then He will Change it at Closing.
Gregg Marcus has a History of Bad Business Practices. Marcus not only ripped off his Clients but he also cheated his Employees.
Gregg Marcus was not paying his Employees Correctly. This led to a Class Action Lawsuit and The Courts forced Gregg Marcus to pay out the money that was owed to his former workers.
GREGG MARCUS, NY is a CONVICTED FELON and should NOT be in the Financial Industry. You can do a Google Search and find His old Court Transcripts. Docket No.?00-1799.
Here is the Link to Actual Court Transcripts which will show you in detail what led to Marcus getting Convicted of a Felony:
http://caselaw.findlaw.com/us-2nd-circuit/1464145.html
Marcus and his Company was involved in Loan Application Fraud, BANK FRAUD, Tax Evasion, and this led to GREGG MARCUS getting Convicted of a FELONY.
Gregg Marcus has so many Internet Articles exposing his Bad Business Practices that as a counter measure he paid a Tech Support Team to create Web Sites to help counter the Bad Press. In his Fabricated Web Sites Marcus Self Proclaims that he is a "Humanatarian".
But if you do a Google Search for "Gregg Marcus" The Very First and Number One Google Search Hit is an article like this one exposing him as a SCAM ARTIST
Just a small piece of advice.
Before you decide to do any Financial Business with anyone take the time and do a quick Google Search.
You might be surprised by what you find
I used to Work for Gregg Marcus and YES I Agree totally with the above post. Marcus is a serious con artist. He used to push his Sales People to charge as much closing costs and Highest Interest Rate as possible. I just can not believe that such a ### sub-prime mortgage broker can rip off thousands of Homeowners and make millions get closed down and then jump into the Insurance Industry like nothing happened. Gregg Marcus belongs in Prison. He is responsible for putting thousands of American Homeowners into Bad Loans which caused them to go into Foreclosure. He would always push us to Sell the Sub-Prime Mortgages like Interest Only Payments and Adjustable Rates with No Income Check and No Down Payment. He knew exactly what he was doing. Now looking back at it I realize that he pushed these types of Bad Loans so that he could make more money. How the hell is a Convicted Felon allowed to Sell Insurance anyway?
The complaint has been investigated and resolved to the customer’s satisfaction.
