![\"Wall_Street_Sign\"](\"https:\/\/www.trumpmortgagefailure.com\/wp-content\/uploads\/2016\/05\/Wall_Street_Sign-300x225.jpg\")
Not only did it fail, it it beat a hard working mother out of hundreds of thousands of dollars.<\/p>\nNot only did it fail, it it beat a hard working mother out of hundreds of thousands of dollars.<\/p>\n
On June 8, 2005, Trump Mortgage, LLC was formed as a limited liability company in the State of New York.\u00a0 According to the Washington Post<\/a>, Donald Trump \u201chosted a glitzy event at Trump Tower to introduce Trump Mortgage LLC, a new firm that specialized in selling residential and commercial real estate loans. He devoted a floor of the Trump Organization headquarters at 40 Wall Street to the new business. And his picture appeared atop the company website with the instruction: \u2018Talk to My Mortgage Professionals now!\u2019\u201d<\/p>\n According to Time Magazine,<\/a> \u201cthe Donald\u201d asked a CNBC reporter, \u201cWho knows more about financing than me?\u201d<\/p>\n Jennifer McGovern, an experienced, hard working, middle class mother, residing on Long Island with her husband and three children, landed a job with Trump Mortgage, LLC as a Loan Originator.\u00a0 In February 2006, McGovern originated negotiations with Montauk Financial Group regarding a potential real estate deal with Investment Properties of America in excess of twenty-six million dollars ($26,500,000.00). \u00a0If the deal closed, it would entitle McGovern to\u00a0a commission of 45 percent commission.\u00a0 The deal closed.\u00a0 Trump Mortgage, LLC collected its commission of $530,000.\u00a0 Trump Mortgage, LLC owed McGovern $238,000.\u00a0 Trump Mortgage, LLC never honored its obligation to pay this commission.\u00a0 Trump Mortgage, LLC beat its own employee, Jennifer McGovern, out of hundreds of thousands of dollars.\u00a0 \u00a0Through McGovern\u2019s efforts, Trump Mortgage, LLC collected $530,000, while refusing to pay 45% to McGovern, as it was obligated to pay, to a hard working mother, with three children.<\/p>\n To date, the judgment remains unsatisfied.<\/p>\n As of January 1, 2016, the judgment, with interest, totals more than $380,000.<\/p>\n Trump Mortgage, LLC failed Jennifer McGovern.<\/p>\n <\/p>\n Attributions:\u00a0 40 Wall Street Photo<\/a> by Gryffindoor<\/a>,<\/p>\n Business Loan Photo<\/a> by\u00a0 nyphotographic.com<\/span><\/span><\/a><\/p>\n <\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":"![\"business-loan\"](\"https:\/\/www.trumpmortgagefailure.com\/wp-content\/uploads\/2016\/05\/business-loan-300x176.jpg\")
The Post<\/a> also reported that Trump told CNBC, \u201cI think it\u2019s a great time to start a mortgage company,\u201d\u00a0in April 2006, because \u201cthe real estate market is going to be very strong for a long time to come.\u201d<\/p>\n![\"ScalesofJustice\"](\"https:\/\/www.trumpmortgagefailure.com\/wp-content\/uploads\/2016\/05\/ScalesofJustice-209x300.jpg\")
McGovern stood up for herself and filed a complaint in the New York State Supreme Court.\u00a0 After Justice Martin Shulman heard testimony, he awarded McGovern her earned commission of $238,000, plus costs and \u00a0interest.\u00a0 A judgment was entered against Trump Mortgage on February 27, 2009 in the amount of $298,274.41 plus interest.<\/p>\n
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