All Fund Net Branch Director Departs

All Fund Mortgage, Tacoma, Wash., a net branch operator that has been slow in paying its managers, has named a new national branch director, Fallon Vaughan, a former vice president for Wells Fargo.According to a statement All Fund sent to its branch managers, Mr. Fallon replaces Bryan Hart, who had worked at the company for five years. The statement says Mr. Hart left to pursue an "alternative advantageous opportunity." Mr. Hart and All Fund officials in Tacoma either declined to comment on the change or did not return telephone calls placed by MortgageWire. At least five branch managers -- four of whom did not want to be identified -- said All Fund has been delaying commission checks by several weeks. Typically, it used to pay within 48 hours. (Mr. Hart confirmed the 48-hour payment schedule to MW prior to his departure.) In another recent statement sent to its managers, All Fund admitted that it has been slow in paying commissions "over the past few months" but promised to fix the problem by late April or early May.