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Unleash the SPAM!! (Reply to this comment)
by smoovetipp
I regret having anything to do with lendingtree, because pretty much as soon as I gave them my info, I started receiving an onslaught of SPAM. I have had my email acct for over 2 years and prior to Lendingtree, I received NONE.
I asked one prick who had the nerve to solicit me on my cell phone where he got my number and info from. He didn't know for sure, but he named 3 possibilities. LendingTree was one of them.
LendingTree betrayed my trust. I will never do business with them or their affiliates. I would suggest thinking twice about trying them out--DON'T GIVE THEM YOUR INFORMATION--unless you enjoy being inundated with crap everyday.
And I decided to go with a local lender instead.
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May 18 '08
9:58 am PDT
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Understanding... (Reply to this comment)
by westjab
Coming from the Mortgage Industry with 11 years under my belt... I think some are giving LendingTree an unfair shake. And I am saying this now even being out of the industry for some time.
1. Your personal information is stored for three years with ANY company that runs your credit. This means... Loans, Credit cards, Insurance, Cell phones, and etc... If your credit is/was ran for anything what so ever, that company by law has to file it for three years.
2. If all you have received are quotes from LendingTree it is not fair to hold it against them like it was a legal document... Those are no different from you watching TV and seeing a car dealership ad. they are going to put their best foot forward. Now if you received a GFE and TIL from the lender, then you have something to push back.
3. Running your credit more than once. If you walked into a car dealership and they run credit, what do you think happens? Answer is they send it out to different banks which in turn run your credit. Now for home loans, if you use a broker, what do you think happens? Answer is the same thing, they will send it off to different lenders to see what they can get.
4. Selling your info... FYI, if your credit is pulled with anybody there are trigers the credit itself will sell to notify people/companies you are looking for something in particular. Have you ever noticed when you bought a new car you get insurance info, gap info, warranty info and etc... in the mail that has nothing to do with the company you borrowed the money from. Same with credit cards, you start getting more and more credit card companies approving you. Do you think the other company sold your info??? Really? That company wants you to transfer your balances over to another credit card that they don't own?
I am not saying your comments are not valid... But I personally would use lending Tree...But here are some simple things to go into with...
Once you apply there will be loan officers calling you. Look at this as only an interview process only. What kind of knowledge does he/she have? Do they make you feel comfortable? What do they represent? This part honestly has nothing to do with the loan itself. It has more to do with the individual and the company they are working for. During this time it is also good to know your own credit history, score, and standing. This way you can give them enough ammo for them to quote you something that can hold water. Please do not hide info during this process. If you do not disclose that you had/have a judgement or something like that... then the approval/quote can and will change, but in no fault of the banker. After this... Get rid of the loan officers who you don't care for and work the top 2 loans officers against each other and let them know you are doing that (even if one of the loan officers is a local broker you picked). This will make both of them in a "True" competition for your business. Believe me, coming from the industry they both will do everything to make the deal better than the other company. And at the end... You win!
Hopefully this will help. Remember it is a sells game. You just have to put your sells game face on as well. Just like walking onto a car lot... When you think about it...It can actually be fun to see how far you can push and get out of it.
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Apr 02 '08
11:07 am PDT
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Re: Look elsewhere ... (Reply to this comment)
by lhilton410
My experience with LT was terribel also:
They sent me an offer from some company called Profolio Mortgage of 4.875% and $976 in closing costs on Jan 20, 2008.
I emailed interest in the offer on Jan 21, 2008.
I was not contacted back until Feb 4, 2008.
When called on Feb 4, 2008, I was again offered 4.875%, but with at least $3500 in closing costs (not $976).
I declined the offer.
I was called by someone else from Profolio Mortgage 2 hours later and offered $1500 (not $976 or $3500) in closing costs.
I was emailed an offer of $1700 (not $976, $1500, or $3500) in closing costs, but with a 5.375% (not the 4.875% offered 2 hours ago) rate.
I declined the offer.
What a huge waste of time!!
I ended getting a better offer from a local bank. On top of it all, LT did absolutely nothing except send me a form email. They are obviously condoning these questionable tactics.
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Feb 12 '08
7:03 pm PST
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Re: Re: Re: Look elsewhere ... (Reply to this comment)
by joanna0604
When you say Financial, who exactly are u talking about? Are you talking about Financial Freedom?
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Dec 07 '07
7:47 pm PST
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Stay far away from Lendingtree. (Reply to this comment)
by misterectomy
We don't have bad credit, but we made the huge mistake of contacting lendingtree.com when we were shopping for a equity loan. it's been 6 months since we closed the loan with a lender we found on our own, but the lendingtree calls won't stop. We've told them a dozen times to stop calling, but they continue.
not only are the bottom of the barrel lenders calling from all over the country, but they sold my information to telemarketers and those calls are even worse. my number is on the National Do Not Call List, but they just don't care.
Stay away from Lendingtree.com and under no circumstances should you give them any information about yourself. Unless you want to be harrassed all hours of the day.
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Aug 02 '07
7:19 pm PDT
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Re: Stay away (Reply to this comment)
by usloans
Dear Stay away,
I work as a licensed loan officer in the state of California and I am stunned by some the people that call themselves loan officers even though a lot of them are acting without a license. An agent should always protect your personal information especially since they have been entrusted with the very fabric of your financial being. Unencrypted or unpassword protected emails should only contain basic correspondence and never personal info such as SSNs. I will not even send a borrowers authorization in email without having a password on it for the protection of my clients.
As far as the agent not contacting you, the fact was probably that they either had poor client tacking and you fell through the cracks, they were not able to qualify you on the income you provided, or they just had no idea what they were doing. Either way you were the one who suffered from their lack of follow through.
You said that your bank qualified you for the same loan based on your 'excellent credit history'. What they did will cost you more money in the long run than if you had been approved for a full-document loan. They based the loan on your job title and derived the income you needed to qualify for the loan based on your job title. Stated loans will typically cost you .25% more in the rate than going full doc. So on a 30 year fixed loan of $500,000 at a 6.25%, you are paying $80.84 extra per month because you were qualified on stated income. That may not seem like much unless you take the loan to the 30 years (360 payments) you will be paying $29,102.40 more in interest. Stated income loans are good for some, but for those who can go full-doc I would advise you to do so.
David Hubbard, Vice President
USLM, Inc
david@uslminc.com
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Jun 25 '07
8:39 pm PDT
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Stay away (Reply to this comment)
by discretesys
I applied for new mortgage loan.
Lady called me from lending tree and was very friendly and nice. She asked for some papers like W-2, pay stubs etc. She asked me to send all these documents in plain email message to her. Wait a minute! All my SSN, driver license number, tax information, home address, date of birth, etc etc in plain email? I refused to send in email. She asked me to send by fax. I do not have fax. I mailed her all my documents by USPS. It has been 2 weeks since I heard from her. However, I have heard from a lot of people including realtors, home services, inspection companies etc since then. I was in a hurry so applied for loan from Wells Fargo and was approved and connected to lawyer in 2 days. They did not ask for any paper work because their automatic system pulled my credit report and approved me based on my excellent credit history.
I think I will have to bear with telemarketers who now know me courtesy of lending tree. and their information privacy policy totally freaked me out.
Stay away.
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Apr 30 '07
1:44 pm PDT
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just another empty promise (Reply to this comment)
by jafenter
well I got 3 responses in 7 days, all were worthless!
ended up with charter one bank and after several empty promises, I contacted their corp office only to get a bigger run around ! go to your credit union or local small toen bank and you can barter in person for a better rate when you have excellent credit.
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Aug 24 '06
3:09 am PDT
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Throw Away Your Privacy Concerns (Reply to this comment)
by mwoodman1972
I recently gave LendingTree.com a try in my quest for a low-rate home loan. You know, “When banks compete, you win!” As you would expect, I had to reluctantly divulge all sorts of identity-theft-fodder information in order to complete the application.
Little did I know how much I would regret this decision.
To find out what happened, read the story here: http://inkblots.markwoodman.com/2005/05/24/cutting-down-the-lending-tree/
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May 24 '05
9:42 am PDT
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They worked for me... (Reply to this comment)
by auldbawl1
But only because they "cater" to people with credit problems. At least that is what I was told by the company they led me to.....Fireside Thrift (now going by Fireside Bank). I did a refinance of my wife's 1999 Camry in 2001 - which was paid for - to start my own business venture. I got $13000 - but a 20.9% rate. I had no other offers with my messed up credit. Hated to do it though and the business went bust. My mistake.
Rick
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Mar 08 '04
2:51 pm PST
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Re: Re: Look elsewhere ... (Reply to this comment)
by ktowndudes
I had an awful experience with Freedom and I am suing them, have a hearing in small claims court next week. If you alos had a bad experience email me to let me know if you can send me a summary of what they did to you, so I can share it with the judge to back up my case. Whopkins@hometownu.com
If we are successful i would love to help anyone else do the same thing.
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Dec 10 '03
7:28 pm PST
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Re: Look elsewhere ... (Reply to this comment)
by brian29456
I do not recommend Lending Tree or Freedom Mortgage. My experience with both of these companies echos exactly that of cr_gorge's. Wish I had seen this site sooner, I would be $600.00 richer.
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Sep 24 '03
9:08 am PDT
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Re: Look elsewhere ... (Reply to this comment)
by cobaka
THE SAME GOES FOR THE FIRST GUARANTY MORTGAGE CORP. FROM OCEAN, NJ - THEY CONVENIENTLY MOVED MY CLOSE ONE DAY PAST THE LOCK-IN EXPIRATION DATE AND CHARGED ME $661 TO EXTEND. THIS IS OUTRAGEOUS, THERE SHOULD BE MORE CONTROL OVER SCAMMING BANKS AND BROKERS.
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Jul 21 '03
2:07 pm PDT
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Re: Look elsewhere ... (Reply to this comment)
by mrisch,  in Personal Finance
David - you should take this comment and turn it into a review!
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May 29 '03
5:01 am PDT
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Look elsewhere ... (Reply to this comment)
by cr_gorge
I tried LendingTree for a mortgage refinance.
I got three bids, all from the same lender,
Freedom Mortgage Corporation.
They seemed to have a reasonable deal, competetive rates and were willing to negotiate points and rate when I found better elsewhere. When the Good Faith Estimate arrived, there were a great number of errors including a point more than negotiated on the phone, my name was not spelled correctly, my social security number was incorrect and other less significant annomolies. When I called them, they said to make the corrections to the paperwork and initial the changes, that they would make all corrections prior to closing.
In order to get the 45 day lock, I was required to put down $600 via my Visa card.
After 10 days without a word, I called them to see where they were in the process. They said they had all the info. they needed and were waiting on the appraisal. 20 days had passed and they were still waiting on the appraisal. 30 days passed and they still said that they had not received the appraisal. I called every day after that and finally I was informed that the paperwork had gone to the underwriter. 40 days had passed and they finally set up a closing 2 days after the 45 day lock. I tried to get them to schedule it within the lock period, but they assured me that they would honor the rate and points agreed to.
1 day prior to closing, they sent me another lending aggrement similiar to the good faith estimate, except there were a number of additional fees added. When I added up the extra fees, it equaled, exactly, one point (1% of the mortgage). They had honored the rate and points, but just raised the fees to make up for the extra point they wanted. Grrrr! 3 hours prior to closing I finally was able to get them on the phone and I confronted them about the additional fees and let them know that I could see that they were (to the dollar) exactly equal to the point. I told them to send an addendum to correct the fees or there would be no signing of papers.
After several calls and waiting, Freedom Mortgage Corp. called me back and said that I no longer had a lock on the rate and that the $600 was being charged to keep the rate at what was agreed. I asked them if it was worth it, that I would report them to the Attorney General's office in New Jersey, the BBB, LendingTree and any consumer protection orginizations as I could find; they just said, "go ahead", it's your loss.
Grrrrr!
Needless to say, I did not sign the papers and then it really donned on me that I had just been ripped off for $600. Grrrrrrrrr!
Anyway, finally getting to the point, I complained to LendingTree via phone, about their unethical business practices and filled out a complaint form on LendingTree's website.
To this day, 5 weeks later, I have received no word from LendingTree other than their obnoxious advertising e-mail. They obviously have no intent of resolving any problems with their lender friends and couldn't care less about any complaints about them.
Bottom Line:
I finally found a local mortgage broker, got a better rate and EXCELLENT service and communication. Wish I had known what a scam LendingTree and their co-horts were running, it would have saved me the high blood pressure and $600.
I'd definately look elsewhere (other than LendingTree). And if you see Freedom Mortgage Corporation, run like he!!
Shop locally, there's very likely a great deal right in your neck of the woods.
IMO LendingTree is only looking out for their 'corporate' bottom line, not the consumer's.
Grrrrrrrrrrrrrrrrr!
Hope this helps others stay clear of LendingTree or Freedom Mortgage Corporation!
Dave Brownscombe
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May 28 '03
9:48 pm PDT
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Rates are not competitive (Reply to this comment)
by caroline_d
When I was shopping around for a rate to refinance my house, I used Lending Tree. I got four offers fairly quickly, but with higher than normal interest rates and less than desirable terms. Also, I applied for a fixed rate jumbo loan and all of the quotes were either adjustable rates or for a conventional loan. I was also hounded for months by Champion mortgage who quoted me 8.5% (which is ridiculously high!!). I finally closed with a local bank for 6.5%. I do not recommend Lending Tree at all, unless you don't qualify for a good rate elsewhere.
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Nov 13 '02
12:53 pm PST
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Good "moral" to the story...do your own homework! (Reply to this comment)
by fitandfun71
I have had my eye on Lending Tree since its inception. I'm glad to see a review that breaks down its weaknesses in a fair and concise manner. As a former banker (now a "freelancer" concerning financial service issues), I wholeheartedly encourage customers to do their own shopping around to get the best combination of rate and customer service possible.
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Sep 22 '02
5:26 pm PDT
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hey (Reply to this comment)
by zzJulia
Sibylle and Peter referred us to Peter Pham at University Investments. He has been awesome and does call us to notify us of rate changes periodically. Let me know if you want the info.
best,
Juls
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Apr 22 '01
4:04 pm PDT
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I think that . . . (Reply to this comment)
by gungian
. . . you have saved many of us from useless mouse clicks.
Nicely done.
Write On!
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Apr 18 '01
9:23 am PDT
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Have you tried USAA? (Reply to this comment)
by Zski
Since it seems like you're someone they would want to market to (you're already getting insurance from them), you may want to check them out.
They don't advertise a 6-year used car loan on their website but maybe if you asked nicely :) they'd see what they can do - you never know.
The rate they're offering to the general public for a 60-month used car loan is 8.2% fixed, or 8.55% variable. They do offer 72 and 84 month loans, but only for new cars (at least according to their website)
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Apr 15 '01
5:21 pm PDT
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