All Fund Late on Payroll

Net branch operator All Fund Mortgage of Tacoma, Wash., is late on paying some of its branch managers, with one senior officer blaming the problem on "accounting issues."Two California branch managers complained to National Mortgage News that they have not been paid in more than two weeks even though they are typically paid within 48 hours. "It was 15 days last Thursday they haven't paid me," said Los Angeles branch manager Len Richard. Bryan Hart, national branch director for All Fund, confirmed to NMN that "we've had delays" in payroll, but could not offer any details. He blamed the delay on accounting issues, adding that branch managers had been informed of the situation "way in advance." He would not elaborate on what those accounting issues are. Mr. Hart also said the company recently went through a change of control, and confirmed that executive vice president Perry Stiles has left the firm. According to an e-mail message provided to NMN, Mr. Stiles worked for All Fund for eight years and left on good terms.