• Report: #172566

Complaint Review: Earth Mortgage

  • Submitted: Fri, January 20, 2006
  • Updated: Fri, February 26, 2010

  • Reported By:Austin Texas
Earth Mortgage
7005 Chase Oaks Blvd Plano, Texas U.S.A.

Earth Mortgage - Ripoff Tries To Force You To Apply For Mortage Attmped to get me to apply for a mortgage before disclosing rates Plano Texas

*Consumer Comment: Same game by a new name?

*Consumer Comment: Same game by a new name?

*Consumer Comment: Same game by a new name?

*REBUTTAL Owner of company: Final Response to this matter

*Author of original report: have policies changed

*Consumer Suggestion: I Just closed a mortgage with them and what this person is stating is not true!!!!!!!!!!!!!

*REBUTTAL Owner of company: These claims are false, this person refuses to call me, why? Because he is a fake!

*Author of original report: Texas Department of Savings and Mortgage Lending

*REBUTTAL Owner of company: MISERY LOVES COMPANY!!!!!!!!!

*REBUTTAL Owner of company: MISERY LOVES COMPANY!!!!!!!!!

*REBUTTAL Owner of company: MISERY LOVES COMPANY!!!!!!!!!

*Author of original report: Let's talk about public record:

*REBUTTAL Owner of company: Tries to Force you????

*REBUTTAL Owner of company: ANOTHER WORTHLESS BOGUS CLAIM

*Author of original report: Actually

*REBUTTAL Owner of company: BEWARE OF WHAT YOU READ

*Consumer Comment: BBB Rating is good!

*REBUTTAL Owner of company: The ramifications of a lying consumer

*Consumer Comment: hmm

*Consumer Comment: hmm

*Consumer Comment: hmm

*Author of original report: Response

*Consumer Comment: ..comment

*Author of original report: Did you read the post?

*Consumer Comment: Take a mortgage banking class !

*REBUTTAL Owner of company: A second response

*REBUTTAL Owner of company: A classic example of someone who wants something for nothing

*Consumer Comment: still laughin - - asking for an app fee is a HUGE red flag

*Consumer Comment: Truths

*Consumer Comment: Truths

*Consumer Comment: Truths

*Consumer Comment: Truths

*Consumer Comment: If you do not get an acceptable answer, move on...

*Consumer Suggestion: I Just don't get it......

*REBUTTAL Owner of company: President

*Consumer Comment: i am pissing myself laughing

*Consumer Comment: Respond to the question:

*REBUTTAL Owner of company: Knowing what your credit score may or may not be

*Consumer Comment: So... I have my credit report

*REBUTTAL Owner of company: BOGUS COMMENT FROM A CLIENT WITH UNREALISTIC GOALS!

*Consumer Suggestion: Mr. Oswald is 100% correct, It is a scam.

*Consumer Comment: A fee should not be required to quote a rate

*Consumer Comment: You are way off on this one

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Frank, Frank, Frank,

First - FYI - there used to be a HOST of complaints in regard to this company. For some "reason" they were removed, although cached by Google for a while.

I ran into Earth Mortgage on bankrate.com and called them to verify what looked to be an excellent interest rate on an FHA loan. After calling, I was immediately assigned a mortgage consultant. I asked (without mentioning bankrate.com) about current interest rates in regard to a 30-yr FHA loan.

I was told that I could not be given rates because current rates would be based on my credit score, which is fine. In order to get current rates, I'd have to submit an application (and pay the fee, of course).

As submitting an application is probably an opportunity to run my credit and I hadn't been told an interest rate, this was an option that I did not want to pursue.

I asked for an interest rate based on some "assumptions" - I detailed my income, income to debt ratio, and known mid-FICO score. The representative said that was all well and good, but still said he could not quote me a rate until I submitted an application so he'd "know I was serious".

I told him that I was 100% willing to submit and application, but ONLY if the interest rate (and associated APR) was very competitive. I would understand if my credit didn't come back as I detailed that I could not be guarnateed that rate. He still told me it could only be done with an application.

I told him I would submit an application, but he could not run my credit. He said fine, but I needed to pay the application fee and submit my ss# - which was a dead give away for me and I got VERY suspicious. I asked if he was a licensed loan officer, he said he was, I wrote down his name - and told him I'd call back.

The name, which escapes me, I looked up on the internet - he was not a licensed loan officer and his license had expired, if I recall correctly.

Run, Run, away from this company if they cannot do what they say they are going to do. It should be 100% possible to quote a rate on the phone based on some basic assumptions and should not require a credit check or application fee. Locking that rate SHOULD require an application and credit check...

Frank - obviously you want to do what's right, but be VERY clear with your employees... Reports like these will cost you some business.

Ostan Oswald
Greenville, Texas
U.S.A.

CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.

This report was posted on Ripoff Report on 01/20/2006 03:39 PM and is a permanent record located here: http://www.ripoffreport.com/r/Earth-Mortgage/Plano-Texas-75025/Earth-Mortgage-Ripoff-Tries-To-Force-You-To-Apply-For-Mortage-Attmped-to-get-me-to-appl-172566. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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0Author 29Consumer 14Employee/Owner
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#1 Consumer Comment

Same game by a new name?

AUTHOR: Bill - (United States of America)

I recently received an unsolicited advertisement via US Mail that included the following statements: "Federal Government Mortgage Rate Reduction Notification", "Government Bailout for Homeowners", "FHA Government Approved Interest Rate Reduction Program" and "Call Now Toll Free to Apply for this Government Aid Program While it Lasts".  One of the things that made me nervous about the ad is that they not only had my name and address, they also had the name of my lender and the amount of my loan from when I bought my house two years ago.  It looks like they're scouring the public records to come up with potential customers, which is a fairly common practice these days.  The way the ad is written seems a bit deceptive to me.  The fine print at the bottom admits that it's not an official government document.

The company name on the ad was Earth Mortgage and suggested that I visit the earthmortgage.com website for more information.  When you go to the website listed in the ad, it's for a totally different company called Evolve Bank and Trust.  I started doing some research and stumbled across the Ripoff Report website and this post.

I tried to find a press release or some other announcement as to why the company changed names.  I used the search feature on the new company website and entered "earth" as the search word, but no results were found.   I tend to become suspicious whenever a company changes names and doesn't publicize their reasons.  They may not be hiding anything, but they're not making it easy to find the information, either.  It's a common practice for a company that's received complaints under one name to change names to try to make a fresh start.  Can't help but wonder if that's the case here.

The recommendation here is to do your homework, especially when you're dealing with your financial information.  If it sounds too good to be true, it probably is.  I personally won't be doing business with Earth Mortgage or Evolve Bank and Trust.   That's just my personal preference.  I'm not going to tell you to use them or not.  I'm simply suggesting that you should be careful about who you do business with.

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#2 Consumer Comment

Same game by a new name?

AUTHOR: Bill - (United States of America)

I recently received an unsolicited advertisement via US Mail that included the following statements: "Federal Government Mortgage Rate Reduction Notification", "Government Bailout for Homeowners",. "FHA Government Approved Interest Rate Reduction Program" and "Call Now Toll Free to Apply for this Government Aid Program While it Lasts".  One of the things that made me nervous about the ad is that they not only had my name and address, they also had the name of my lender and the amount of my loan from when I bought my house two years ago.  It looks like they're scouring the public records to come up with potential customers, which is a fairly common practice these days.  The way the ad is written seems a bit deceptive to me.  The fine print at the bottom admits that it's not an official government document.

The company name on the ad was Earth Mortgage and suggested that I visit the earthmortgage.com website for more information.  When you go to the website listed in the ad, it's for a totally different company called Evolve Bank and Trust.  I started doing some research and stumbled across the Ripoff Report website and this post.

I tried to find a press release or some other announcement as to why the company changed names.  I used the search feature on the new company website and entered "earth" as the search word, but no results were found.   I tend to become suspicious whenever a company changes names and doesn't publicize their reasons.  They may not be hiding anything, but they're not making it easy to find the information, either.  It's a common practice for a company that's received complaints under one name to change names to try to make a fresh start.  Can't help but wonder if that's the case here.

The recommendation here is to do your homework, especially when you're dealing with your financial information.  If it sounds too good to be true, it probably is.  I personally won't be doing business with Earth Mortgage or Evolve Bank and Trust.   That's just my personal preference.  I'm not going to tell you to use them or not.  I'm simply suggesting that you should be careful about who you do business with.

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#3 Consumer Comment

Same game by a new name?

AUTHOR: Bill - (United States of America)

I recently received an unsolicited advertisement via US Mail regarding a "Government Bailout for Homeowners" and an "FHA Government Approved Interest Rate Reduction Program".  One of the things that made me nervous about the ad is that they not only had my name and address, they also had the name of my lender and the amount of my loan.  So it looks like they're scouring the public records to come up with potential customers.  The way the ad is written seems a bit deceptive to me.

The company name on the ad was Earth Mortgage and suggested that I visit the earthmortgage.com website for more information.  When you go to the website listed in the ad, it's for a totally different company called Evolve Bank and Trust.  I started doing some research and stumbled across the Ripoff Report website and this post.

I tried to find a press release or some other announcement as to why the company changed names.  I used the search feature on the new company website and entered "earth" as the search word, but no results were found.   I tend to become suspicious whenever a company changes names and doesn't publicize their reasons.  They may not be hiding anything, but they're not making it easy to find the information, either.  It's a common practice for a company that's received complaints under one name to change names to try to make a fresh start.  Can't help but wonder if that's the case here.

The recommendation here is to do your homework, especially when you're dealing with your financial information.  If it sounds too good to be true, it probably is.  I personally won't be doing business with Earth Mortgage or Evolve Bank and Trust.   That's just my personal preference.  If they meet your standards and requirements, by all means use them.

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#4 REBUTTAL Owner of company

Final Response to this matter

AUTHOR: Frank - (U.S.A.)

I, like every other business owner cares about 1 thing, That is to make sure that my clients are treated as I want to be treated.
I have taken the time out of my busy schedule to defend my company because I feel the public needs to know the truth.

While I agree out of 12,000 clients you may have a few that are not happy with something, but we try very hard to make sure that is not the case.

As long as there are false accusations against Earth Mortgage, I will make sure to defend them.

All I can say is you are looking for a great deal, a company with an owner that actually cares about your needs, you may want to try Earth Mortgage!
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#5 Author of original report

have policies changed

AUTHOR: Tarturus - (U.S.A.)

The original complaint stems from Earth Mortgage advertising rates on a public website and then requiring a fee from the consumer (up front) before being quote the advertised rate. I felt this was misleading - especially as the rate was adverised, but required a fee to be confirmed.

The complaint was that you couldn't have it both ways - you can't advertise rates and then indicate that you can't quote rates until after you've had a deposit associated with a credit check.

I *never* had any beef with any loan provider - if my credit/income/debit-income wasn't up to the bar required for that rate, I'd completely understand if the rate had changed.

Had we agreed to disagree on the policy, that probably would have been the end of it.

If your policy on requiring an application fee up front has changed, then my complaint is resolved? The consumer that posted above is indicating that the policy has changed... Why not leave it there?

You've said that course everything I've said here is an "outright lie" - but you defend the original policy? If I was lying about it - there is nothing that needs defending. I am not the only one that you've accused of being a liar on a public forum.

There areother complaints about your business and I have yet to see you offer any credibility to a single one of those complaints. Certainly you originate a lot of mortgages and perhaps a reasonable number of those complaints are invalid - but I'll let consumers sort out (based on your own response) if any of those complaints are credible.

I have no idea what the details of the state department of mortgage disiplinary action is - so I have no dispute in regard to your claim of the facts. Like all other members of the public - I simply call attention to the title and will let them compare that with whatever you've presented. If it is as you claim, I'm sure it will be closed in your favor. If it isn't decided in your favor, perhaps someone else is telling lies?


You have gone through a number of employees and have originated what would be in my opinion is a *lot* of mortgages. Do you not find any culpability in any of the deals that your employees have done? Perhaps one of those consumer complaints might have merit? All of the other consumer complaints are 100% false, fabricated, or have been originated by disgruntled employees? At least every one I've read where you responded. Until you consider that some of those complaints *might* have merit, you'll just be up against a bunch of liars...


In regard to complaint station - do some reading. Apparently there is a way to have complaints removed. It doesn't look to be very business friendly (in my opinion) and I'm starting to understand how this place makes money.

I'm not going to contact you as we have nothing to discuss. My complaint was years ago and perhaps the policy has changed? Obviously you are looking to litigate. There is no upside for me and I have no desire to listen to more insults. Perhaps interested consumers can contact you directly if they have questions.
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#6 Consumer Suggestion

I Just closed a mortgage with them and what this person is stating is not true!!!!!!!!!!!!!

AUTHOR: David F. - (U.S.A.)

Actually, Earth Mortgage was the first company that disclosed the rate without asking for a single cent.
I was fortunate to speak with someone that actually cared about my needs, not theirs!
They did inform me that if I wanted to lock in a rate that they would have to verify my credit and the value of my home, hense the word application fee - which to them means credit report and appraisal. The also gave me the option of paying at my home DIRECTLY to the appraiser.

I have purchased many homes in the past and I have never had such an easy closing.

FYI - My brother just closed TODAY, and he experienced the same thing I did.
This person must be referring to another company

Just wanted to voice my opinion!

Thanks
David F
Waco TX
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#7 REBUTTAL Owner of company

These claims are false, this person refuses to call me, why? Because he is a fake!

AUTHOR: Frank - (U.S.A.)

Well, you still refuse to call me and prove your claim? Let me know who you are, my attorney would love to serve you some papers.

Addressing the last issue. The complaint with the Texas Savings and Loan is a loan officer with another company that filed a complaint wioth the TSLD because I took a client away from him.
If you would get infomation before you spat your false claims - you would see that the complaint has NOTHING to do with what you claim, it has to do with a loan officer claimning that I was not licensed by the State of Texas. I have been licensed with the State since 1999!!!!!!!!!!!!!!Twice, I have given you my phone number but you fail to call. IT IS BECAUSE YOU ARE A FAKE!!!!!!!!!!!!!!!!! Get a life.

As far as the other claims on this site with no governing body, Earth Mortgage is in the process of filing a lawsuit against Ripoff Report. The claims on there site, especially against my company have no merritt whatsoever. Out of the ver few you see, all of them have been filed by disgruntal ex-employees that were aggitated that we termonated them.

I have emailed the editor 3 times this week alone and no one ever responds.

There is no proof whatsoever on any of these claims, especially this last guy, that has nothing better to do. look at his claim, it is dated 2006????????

Why is he still going onto this site?? Please, before ou make a decesion look at the facts here.

Once again, please feel free to call me 214-483-9224, I would be happy to show you our proof!
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#8 Author of original report

Texas Department of Savings and Mortgage Lending

AUTHOR: Tarturus - (U.S.A.)

I'll give you that perhaps you guys do a lot of business.. Complaints certainly are bound to happen. Shoot, 3 complaints in 10,000 would be a good enough number for me. Is one complaint per 1-1.5 months excessive? Beats me... Not if you're doing thousands of mortgages a month.

Let me be specific - you're saying that everything I've posted is false... but then you're making excuses for your BBB complaints. Hey, if you really originate 10,000 mortgages, I'm sure that consumers can figure out that you're bound to get some level of complaints. I think that's fair.

Tell you what - address this: Texas Department of Savings and Mortgage Lending ever taken *any* action on your business for "misleading practices"?

Remember - these are open records that anyone can access.. :-) I believe they're called "signed orders".
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#9 REBUTTAL Owner of company

MISERY LOVES COMPANY!!!!!!!!!

AUTHOR: Frank - (U.S.A.)

Public - ALL the information that this miserable person has written is Bogus, all of it.
unfortunately-In this world we live in, bogus people like to spread bogus rumors.

This is obviously a person that has nothing better to do than try to ruin companies.
Look at for that lawsuit buddy, it will be coming you way soon enough!

Earth Mortgage has been in business for 10 years. In total, we have closed well over 10,000 mortgages.

In our business there will always be someone that complains.
If their credit is bad, the complain that their rate is high
If the title company screws up - They blame the lender
If the appraisal come in low they blame us.
If the survey is wrong, they blame the lender!

The mortgage business has way to many hands in the process. I hope you really do your research before you pass on a good company, because I can tell you that idiots like this one enjoy doing just that!

Once again - before you believe this bogus info call me 214-566-9714. I would be glad to discuss any issue whatsoever!

Thanks
Frank Cortese
President
Earth Mortgage
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#10 REBUTTAL Owner of company

MISERY LOVES COMPANY!!!!!!!!!

AUTHOR: Frank - (U.S.A.)

Public - ALL the information that this miserable person has written is Bogus, all of it.
unfortunately-In this world we live in, bogus people like to spread bogus rumors.

This is obviously a person that has nothing better to do than try to ruin companies.
Look at for that lawsuit buddy, it will be coming you way soon enough!

Earth Mortgage has been in business for 10 years. In total, we have closed well over 10,000 mortgages.

In our business there will always be someone that complains.
If their credit is bad, the complain that their rate is high
If the title company screws up - They blame the lender
If the appraisal come in low they blame us.
If the survey is wrong, they blame the lender!

The mortgage business has way to many hands in the process. I hope you really do your research before you pass on a good company, because I can tell you that idiots like this one enjoy doing just that!

Once again - before you believe this bogus info call me 214-566-9714. I would be glad to discuss any issue whatsoever!

Thanks
Frank Cortese
President
Earth Mortgage
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#11 REBUTTAL Owner of company

MISERY LOVES COMPANY!!!!!!!!!

AUTHOR: Frank - (U.S.A.)

Public - ALL the information that this miserable person has written is Bogus, all of it.
unfortunately-In this world we live in, bogus people like to spread bogus rumors.

This is obviously a person that has nothing better to do than try to ruin companies.
Look at for that lawsuit buddy, it will be coming you way soon enough!

Earth Mortgage has been in business for 10 years. In total, we have closed well over 10,000 mortgages.

In our business there will always be someone that complains.
If their credit is bad, the complain that their rate is high
If the title company screws up - They blame the lender
If the appraisal come in low they blame us.
If the survey is wrong, they blame the lender!

The mortgage business has way to many hands in the process. I hope you really do your research before you pass on a good company, because I can tell you that idiots like this one enjoy doing just that!

Once again - before you believe this bogus info call me 214-566-9714. I would be glad to discuss any issue whatsoever!

Thanks
Frank Cortese
President
Earth Mortgage
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#12 Author of original report

Let's talk about public record:

AUTHOR: Tarturus - (U.S.A.)

You are right, you're not on bankrate now, but you were I originated my loan.. that's how I found you!


Per the BBB:
"BBB processed a total of 27 complaints about this company in the last 36 months, our standard reporting period. Of the total of 27 complaints closed in 36 months, 5 were closed in the last year."
A little less than one public complaint per month.. Is that bad? I dunno... It's way up from 1-2 years ago. Most appear to be administratively resolved without acceptance by the consumer - but that's public information.

How many complaints are not filed with the BBB for every one that is?


You're "sponsoring" 16 non-brokers - perhaps loan officers... Wonder who writes the loans? Do you know what each one of these people is telling consumers?

For consumers (generally) looking to make a licensing complaint:
http://www.sml.state.tx.us/
Consumer Complaint Hotline
1-877-276-5550
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#13 REBUTTAL Owner of company

Tries to Force you????

AUTHOR: Frank - (U.S.A.)

People - Doesn't that sound insane?
How can we force you? If you want us to lock an interest rate, we need to order an appraisal and credit. That means we need to collect an application fee.

FYI - The Unlicensed Loan Officer is another false statement. Let me know if you ever want me to fax a copy of their license!

I am sorry if I sound fustrated but I am, these are bogus remarks from people that like to create misery for others because they are not happy with their life.

All Earth Mortgage tries to do is treat every client like we want to be treated.

If anyone EVER has an issue with my company, you now have my cell phone number. Call me and I will make sure that these BOGUS posts go away and stop misleading the public!
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#14 REBUTTAL Owner of company

ANOTHER WORTHLESS BOGUS CLAIM

AUTHOR: Frank - (U.S.A.)

First of all Earth Mortgage has not advertised on Bankrate.com for over 1 year and your claim is dated 12/08/2008.
Secondly, we have no records of Mr. Oswald.

"THIS IS A BOGUS CLAIM'" PLEASE DISREGARD THIS

If anyone would like to speak with me here is my cell number 214-566-9714. I dare any of these BOGUS people to publish their cell phone number and PROVE there case.

I assure you one thing 11,367 mortgages in the last 4 years. 12 BBB resolved complaints which 8 were TITLE COMPANY related.

PLEASE READ THESE BOGUS CLAIMS WITH A GOOD LAUGH IN MIND. BECAUSE THEY ARE FALSE.

3 of the reports in the poast were filed by 3 ex- loan officers that were terminated from Earth Mortgage.

How many owners of companies disclose there cell phone number??

I hope you don't let some bogus remarks get in the way of you getting a "REAL" good deal!

Thanks
Frank
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#15 Author of original report

Actually

AUTHOR: Tarturus - (U.S.A.)

Actually, Since Earth mortgage, I've been working with mortgage broker that has never baited done bait and switch - she runs GFEs and quotes rates at no fee... She actually advises me NOT to run credit until I'm within 30 days of close. I've closed with her twice and have never had a problem.


No matter how you slice it - you're advertising rates on bankrate.com... If you can't stand by those rates to people with FICO over 750 and great debt/income... I simply don't know what to tell you.
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#16 REBUTTAL Owner of company

BEWARE OF WHAT YOU READ

AUTHOR: Frank - (U.S.A.)

A mortgage company that quotes a rate without FIRST looking at your credit WILL BAIT AND SWITCH YOU!

This is exactly what AMERIQUEST used to do. That is why they are OUT OF BUSINESS!

Consumers, please, before you get a mortgage, regardless who it is from, MUST see what your credit is BEFORE they can ACCURATELY quote you are rate.

All those ads on TV that claim 5.5% fixed, read the fine print first!
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#17 Consumer Comment

BBB Rating is good!

AUTHOR: Tarturus - (U.S.A.)

Hmm.. advertised rates have dropped off of bankrate.com
Advertised rates have dropped off of their website - you've got to call or submit an application.. :-)


BBB rating is OK:
(((ROR REDACTED)))

Then again:

http://badbusinessbureau.com/reports/0/299/RipOff0299982.htm
http://badbusinessbureau.com/reports/0/294/RipOff0294184.htm
http://badbusinessbureau.com/reports/0/225/RipOff0225722.htm

CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.
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#18 REBUTTAL Owner of company

The ramifications of a lying consumer

AUTHOR: Frank - (U.S.A.)

Earth Mortgage has been in business since 1999. Our policy is to make sure when we quote rates, THEY ARE ACCURATE.

This client did not want to share any information before we quoted a rate and fees.

It is impossible to quote rates and fees without knowing the credit history on this consumer.

BY THE WAY -We pull credit for free and qualify all of our consumers for free as well!!!!!

Please disregard this non sense. This client is a LIAR!!!!!!!!!!!!!!!!!!!!!!!!

Check us out on bbb.org

9120 completed transactions with 14 RESOLVED complaints!!! I would say that is a good report!


FYI -We have not been in Plano Texas for over 2 years!
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#19 Consumer Comment

hmm

AUTHOR: Ginagirl - (U.S.A.)

I understand what your saying to a certain extent,like ive been to a builder before not even a mortgage company and told them my debt situation and based on that they told me it wouldnt be a good idea for me to get a house bc my credit score would be to low ,i wouldnt get a good deal.so i get what ur saying about companies giving you ideas and ball parks. I think thats with any company though cuz dealerships always advertise 2.5 financing etc,we all know thats only if you have perfect credit but -it may be a true statement if youu have the right kind of credit and ratios. so I dont think earth mortgage in saying anything false about thier rates,its all based on the market.
I just think your sweating the small stuff by coming on here and posting all this lol.
I would have moved on by now..and found the kinda deal I was looking for.
I dont work for earth mortgage or anything like that.
I just know people whom have used them for buisness and thier loans closed on time etc and they got good rates.
Probably based on thier credit score too-
I also see alot of complaints out there for companies , I think consumers deserve to hear the good sides too...because they could be missing out on a good opportunity :)
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#20 Consumer Comment

hmm

AUTHOR: Ginagirl - (U.S.A.)

I understand what your saying to a certain extent,like ive been to a builder before not even a mortgage company and told them my debt situation and based on that they told me it wouldnt be a good idea for me to get a house bc my credit score would be to low ,i wouldnt get a good deal.so i get what ur saying about companies giving you ideas and ball parks. I think thats with any company though cuz dealerships always advertise 2.5 financing etc,we all know thats only if you have perfect credit but -it may be a true statement if youu have the right kind of credit and ratios. so I dont think earth mortgage in saying anything false about thier rates,its all based on the market.
I just think your sweating the small stuff by coming on here and posting all this lol.
I would have moved on by now..and found the kinda deal I was looking for.
I dont work for earth mortgage or anything like that.
I just know people whom have used them for buisness and thier loans closed on time etc and they got good rates.
Probably based on thier credit score too-
I also see alot of complaints out there for companies , I think consumers deserve to hear the good sides too...because they could be missing out on a good opportunity :)
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#21 Consumer Comment

hmm

AUTHOR: Ginagirl - (U.S.A.)

I understand what your saying to a certain extent,like ive been to a builder before not even a mortgage company and told them my debt situation and based on that they told me it wouldnt be a good idea for me to get a house bc my credit score would be to low ,i wouldnt get a good deal.so i get what ur saying about companies giving you ideas and ball parks. I think thats with any company though cuz dealerships always advertise 2.5 financing etc,we all know thats only if you have perfect credit but -it may be a true statement if youu have the right kind of credit and ratios. so I dont think earth mortgage in saying anything false about thier rates,its all based on the market.
I just think your sweating the small stuff by coming on here and posting all this lol.
I would have moved on by now..and found the kinda deal I was looking for.
I dont work for earth mortgage or anything like that.
I just know people whom have used them for buisness and thier loans closed on time etc and they got good rates.
Probably based on thier credit score too-
I also see alot of complaints out there for companies , I think consumers deserve to hear the good sides too...because they could be missing out on a good opportunity :)
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#22 Author of original report

Response

AUTHOR: Tarturus - (U.S.A.)

"It's TO bad companies have to deal with complaints like yours that have no valid back up."

I'm not sure what you mean here by "no valid back up".
My complaint is perfectly valid. I'll state it simply and maybe this will clarify it for you:
1) Earth Mortgage advertises a very low rate on bankrate.com.
2) When the consumer calls to verify this rate, they are asked to pay a fee.

I absolutely understand why Earth Mortgage can't go submitting mortgage applications without charging a fee.

Is this bait and switch? It's going to depend on your credit score, debt to income, and a few other factors. I'll let you tell me after you pay the fee.

As noted by other people in the mortgage industry, with some basic information it's easy to generate some conditional information on the interest rates for today.


"According to your postings. so how would you know how they were going to treat you as a consumer? "

I had a previous loan that went through Earth Mortgage. I'll see if I can pull the web archive on that experience and post it up here.
I was hoping that the first experience was an isolated incident.


"Everyone has a system in place of how they do buisness,its up to you as a consumer wether or not you like their systems that are in place."

I absolutely agree. This is a consumer website and part of the function here is to educate other consumers. The business could also take note and adjust policies as necessary to better fit the needs of the business and the consumer.


"And by the way you should complain to everyone you purchase things from because every company charges some type of fee for service or goods"

I'm not complaining about the fees associated with the loan, I'm saying that there is no rational reason for charging a fee to detail the rates, especially when there is a clear advertising campaign. Maybe bankrate gets charged an application fee?

I'm a reasonable consumer.. If I can't qualify for the advertised rate, I'm OK with that - just tell me what the qualifications are.
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#23 Consumer Comment

..comment

AUTHOR: Ginagirl - (U.S.A.)

I feel bad for any company that has to deal with you in the future you are truley a dramatic person

It's TO bad companies have to deal with complaints like yours that have no valid back up. Earth Mortgage may not be some beefed up company like countrywide and all the others but they will get you a better rate then the big guys!

You never even paid earth mortgage an application fee to see what kind of rate they would give you correct? According to your postings. so how would you know how they were going to treat you as a consumer? Everyone has a system in place of how they do buisness,its up to you as a consumer wether or not you like their systems that are in place.

To come on here and complain about what a company has put in place for thier procedures seems childish since you are a CONSUMER and can choose otherwise or to take your buisness else where right? ((let me add you said in your postings you didn't even use them)

I mean to come online and complain! you must have put alot of thought into that. maybe its ur own conscious reflecting on something else that has nothing to do with this company.
And by the way you should complain to everyone you purchase things from because every company charges some type of fee for service or goods !
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#24 Author of original report

Did you read the post?

AUTHOR: Tarturus - (U.S.A.)

Hopefully Earth mortgage has gotten better about this.. or they're training their employees a little better.

I really don't have a beef with a mortgage holder needing to pull a credit report to determine final rates.
Hey, I'm even OK with an application fee to lock and confirm that rate if it means that the company is ultra-competitive with rates on the back end...

What I'm *NOT* OK with is having a company advertise a rate and then tell me that they can't give a rate without an application fee.
The problem is that I'm an educated consumer and I had just pulled my credit scores from all 3 agencies. I know that these guys have a table of rates that change daily and they can reference rates to credit scores, income, and debt/income ratios... Can they lock a rate for me based on the data I provide them? Absolutely not, but I can prevent paying that application fee and getting being a victim of bait and switch.

Could my informatoin be wrong or not up to date? Sure.. but that that would be the fault of the consumer, not the fault of the mortgage company!

At the time I was dealing with them, the guys in the office gain a good deal of their income on commission. Like any good sales drone, they'd do what they needed to do to get that sale done. Mortgages are bad news if you've got a deal that starts to fall apart on the back end, you typically can't just walk away without losing real estate purchase, radically changing your relocation plan, or doing significant financial harm. Some people aren't entirely ethical - once they've hooked you for a mortgage, they know it's very difficult and often expensive to re-originate.

I have yet to see Earth Mortgage say, "yea.. we screwed that one up and we're sorry" - they always have an excuse for why that particular transaction was the fault of th consumer, not their staff, and not a process issue. Could it always be the fault of the consumer... Sure... Well, you be the judge. For every 1 story you read here, there are another 100 that don't get posted - both good and bad.

Are these guys any worse than anyone else in the industry? Perhaps not..
Are their rates competitive.. Yes.. Especially when comparing to the retail rates of the big banks.

Will they get my business again? Never. Individuals at Earth made promises that they didn't back costing me money. When I thought about going back to them due to competitive rates, I got this whole "application fee, please" deal before they'd even quote me what they were advertising on public forums... All I wanted was a confirmation of rates (ballpark) based on accurate information. I don't need to pay a fee for that.

Hey, if their rates come with minimum credit stipulations or other formulamatic requirements, I'm fine with it.. They need to say here are the requirements for rate X. Otherwise they need to STOP ADVERTISING RATES... Maybe they should run an ad that requires a payment before you can see the rate?
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#25 Consumer Comment

Take a mortgage banking class !

AUTHOR: Ginagirl - (U.S.A.)

Hi I HAD TO COMMENT ON THIS WHEN I READ THIS!!
First off I work for a mortgage investment firm and have been in mortgage almost 6 yrs and No company can run your credit unless you give them your info and permission and paying an app fee? EVERYONE does that lol unless ur gonna fall for the bank of america NO CLOSING COSTS thing that has lil written things written at the bottom of the advertisment.
NO FEE CLOSINGS AND SUCH FOR A HOUSE? not possible but I will say Earth Mortgage has very competitve rates for APRS and I have not seen better when in searching the web! Best bet to get best APR ,AKA interest rate??
lendingtree.com
But you should really research a subject before you go off saying someones trying to scam you and what not!
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#26 REBUTTAL Owner of company

A second response

AUTHOR: Frank - (U.S.A.)

If you truely want to know an ACCURATE RATE and Fees, the LEnder MUST know what your credit score is.

In todays market, there are far to many bait and switch mortgage companies out there.

BEWARE OF THE MORTGAGE COMPANIES THAT QUOTE RATES AND FEES "BEFORE" THEY KNOW YOUR CREDIT SCORE!

You want to know my rates, I would be happy to tell you and I will be acurate!
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#27 REBUTTAL Owner of company

A classic example of someone who wants something for nothing

AUTHOR: Frank - (U.S.A.)

Every claim that this person made is FALSE.
Look at the last quote, reports like this will cause you to lose business.

We collect an application fee for one simple reason.
We pay OUT OF POCKET for Appraisal and Credit on every client.
It is an ACTUAL HARD cost that every mortgage will sooner or later have to pay.
All the major LENDERS collect an application fee. It is not just a fee, it pays for 2 times that you need to close a mortgage loan.

All of our Loan Specialists are Licensed to do business in the State, NO EXCEPTIONS!

If he cannot remember the name of the Loan Officer, how would he be able to tell he/she is not licensed.

This person is a LIAR, disregard these idiotic remarks.

The old saying, you can't please everyone.
If he did not want to PAY for an Application fee, then HE should of pay the appraiser at the door like we offered.

Check out our Dunn and Bradstreet Rating. It is A rated! Need I say more?

If you truely want the best service and rates, call us today!
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#28 Consumer Comment

still laughin - - asking for an app fee is a HUGE red flag

AUTHOR: Tom - (U.S.A.)

This was a good thread.

I am a mortgage broker and like most said on this thread, asking for an app fee is a HUGE red flag. Asking the borrower to provide it so they know he is 'serious' is of course a SELF SERVING JERK OFF way of 'locking' the poor b*****d into their no doubt lousy rates.

Any broker worth his salt can ask a borrower a few pointed questions about his credit and mortgage history, and pretty well guess if they can go fannie /freddie. We know what will pass DU/LP

These pricks who think the rate is a 'secret' are really guarding themselves to try to trump up the rate high enough to gouge the guy. Its better to keep him on a string, rather than tell him 5.875% and then have to offer him 8% later.

Are there still homeowners in the united states that fall for this crap?

Another guy indicated that they should use a local trusted referral. That is sound advise.

Turns out -that is my ENTIRE BUSINESS MODEL

When you call Earth mortgage, Quicken, Ditech, ect...all you get is a refi monkey with a clip on tie, trying to gouge you for everything it is worth.

to each his own.
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#29 Consumer Comment

Truths

AUTHOR: Scott - (U.S.A.)

What you have to understand is that Frank can put a pretty spin on his words.

The fact of the matter is that he accepting payment before quoting rates so he will not get busted by "Big Brother."

"Big Brother" is Bankrate. Bankrate has him send his rates that he posts. Bankrate tries to cut down on the baiting and switching by having a third party call in to test the rates. Basically they will call with a scenario to see if the rate holds water. If you quote differently than what you posted you will get kicked off Bankrate for a number of days (pending on the number of previous offenses).

Frank knows that they will not give a credit card number in order to receive a quote so this is how he weeds out bankrate, keeps a tremendously low rate on bankrate's website, and is a way to collect an excessive fee.

Please deal with brokers that are up front and honest. A broker should always be able to quote you a rate whether they pull your credit or not. If you want to let the broker give you a more accurate picture let him pull your credit. If they are demanding a charge because of the credit report, most mortgage companies only have to pay $15 for a tri-merge with two applicants.

If you like car dealers go to Earth.
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#30 Consumer Comment

Truths

AUTHOR: Scott - (U.S.A.)

What you have to understand is that Frank can put a pretty spin on his words.

The fact of the matter is that he accepting payment before quoting rates so he will not get busted by "Big Brother."

"Big Brother" is Bankrate. Bankrate has him send his rates that he posts. Bankrate tries to cut down on the baiting and switching by having a third party call in to test the rates. Basically they will call with a scenario to see if the rate holds water. If you quote differently than what you posted you will get kicked off Bankrate for a number of days (pending on the number of previous offenses).

Frank knows that they will not give a credit card number in order to receive a quote so this is how he weeds out bankrate, keeps a tremendously low rate on bankrate's website, and is a way to collect an excessive fee.

Please deal with brokers that are up front and honest. A broker should always be able to quote you a rate whether they pull your credit or not. If you want to let the broker give you a more accurate picture let him pull your credit. If they are demanding a charge because of the credit report, most mortgage companies only have to pay $15 for a tri-merge with two applicants.

If you like car dealers go to Earth.
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#31 Consumer Comment

Truths

AUTHOR: Scott - (U.S.A.)

What you have to understand is that Frank can put a pretty spin on his words.

The fact of the matter is that he accepting payment before quoting rates so he will not get busted by "Big Brother."

"Big Brother" is Bankrate. Bankrate has him send his rates that he posts. Bankrate tries to cut down on the baiting and switching by having a third party call in to test the rates. Basically they will call with a scenario to see if the rate holds water. If you quote differently than what you posted you will get kicked off Bankrate for a number of days (pending on the number of previous offenses).

Frank knows that they will not give a credit card number in order to receive a quote so this is how he weeds out bankrate, keeps a tremendously low rate on bankrate's website, and is a way to collect an excessive fee.

Please deal with brokers that are up front and honest. A broker should always be able to quote you a rate whether they pull your credit or not. If you want to let the broker give you a more accurate picture let him pull your credit. If they are demanding a charge because of the credit report, most mortgage companies only have to pay $15 for a tri-merge with two applicants.

If you like car dealers go to Earth.
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#32 Consumer Comment

Truths

AUTHOR: Scott - (U.S.A.)

What you have to understand is that Frank can put a pretty spin on his words.

The fact of the matter is that he accepting payment before quoting rates so he will not get busted by "Big Brother."

"Big Brother" is Bankrate. Bankrate has him send his rates that he posts. Bankrate tries to cut down on the baiting and switching by having a third party call in to test the rates. Basically they will call with a scenario to see if the rate holds water. If you quote differently than what you posted you will get kicked off Bankrate for a number of days (pending on the number of previous offenses).

Frank knows that they will not give a credit card number in order to receive a quote so this is how he weeds out bankrate, keeps a tremendously low rate on bankrate's website, and is a way to collect an excessive fee.

Please deal with brokers that are up front and honest. A broker should always be able to quote you a rate whether they pull your credit or not. If you want to let the broker give you a more accurate picture let him pull your credit. If they are demanding a charge because of the credit report, most mortgage companies only have to pay $15 for a tri-merge with two applicants.

If you like car dealers go to Earth.
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#33 Consumer Comment

If you do not get an acceptable answer, move on...

AUTHOR: Thomas - (U.S.A.)

We bought this house using a buyers-only broker in 2000.

Interest rates dropped in 2003. I Saw a chance to cut 25% off of the mortgage interest rate and also the possibility to restructure the deal, so I called our buyer-broker and asked for a recommendation. He said "Call XXX who will take good care of you.

I called XXX and told him who had recommended him to me. Then I asked what rate I could get. He told me the rate, which was as good as anything on Bankrate.com, and he said I could also have one rate adjustment prior to closing in case rates dropped.

We went ahead with the refi, and one week before closing the rates had dropped so they reduced our interest rate. The bank that wrote the new mortgage had a history of NOT selling off any mortgages, and everything was cool.

Morals of the story:
1. GO LOCAL with someone who is recommended by a trusted source;
2. Rate quotes ARE available upfront, and simply seek another mortgage source if the people you are talking to claim that rates are a "big secret";
3. If ANY disconnect or inconsistancy occurs, stop dealing with that mortgage source and find another. Do not attempt to shovel sand against the incoming tide;
4. If you have serious issues about a Bankrate.com listing, complain to Bankrate.com.
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#34 Consumer Suggestion

I Just don't get it......

AUTHOR: Angela - (U.S.A.)

Well, the first thing is, why would you even want to do business with a company who charges an application fee? I have been in the mortgage business for 5+ years and hear of a very few , normally small companies who charge an application fee.

The 2nd thing is there are so many factors to coming up with an interest rate, from what type of program to credit score, loan to value, what is on your credit, debt to income ratio, type of debt and type of income. It is difficult to quote a rate, even if you know your credit score. I normally give the lowest rate for prime customer's and then I give the highest rate for less then perfect.

When an application is taken it allows the loan officer to see a larger picture. You could say initally that you make $50,000 per year and you have been at your job for only a year. Then the loan officer finds out half of the amount of your income is from commission. That changes everything.

If you are serious about doing a loan, do the application ( with a company who does not charge an application fee) and go from there. Truthfully, I don't see a ripoff here. You didn't pay the fee and they didn't lie to you, period....
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#35 REBUTTAL Owner of company

President

AUTHOR: Frank - (U.S.A.)

General Public

Bait and Switch is a growing epedimic in this country and it is used highly in the mortgage world.

If a mortgage company quotes you a rate and fees without checking your credit first, they are setting you up for the Bait and Switch tactic.

As far as the dumb comment below about an application fee. well here is who charges one

Countrywide
Ameriquest
Bank of America
Wells Fargo
Washington Mutual

Be careful of what you read most of the time it isn't exactly what you should believe.

Thanks
Frank Cortese
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#36 Consumer Comment

i am pissing myself laughing

AUTHOR: Tom - (U.S.A.)

Hi.

I am Tom. I am a mortgage broker and an avid consumer advocate on this site.

As for the original author who thinks he can outwit banking and real estate professionals? I feel bad for you.

as for the earth mortgage guy? stop asking for 'application fees' right off the hop. cmon man.....do i really need to explain why?

As for Holly and that other guy who agreed with her in principal? You guys are good eggs, but i disagree on one point.

I tell my potential clients who INSIST on rates right off the hop, ballpark rates based on what info they give me. I also tell them without an app , i am just guessing in good faith and doesnt mean anything in stone.

Quite often -if not always, if they just want information, better to just give them 2 min of your time and hang up, because they are ALWAYS rate shoppers. Rate shoppers rarely deal until they are fed up with their rate shopping and just want to get a loan.

cheers
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#37 Consumer Comment

Respond to the question:

AUTHOR: Tarturus - (U.S.A.)

1) Which you ignored above: has your company ever been cited by the department of banking (any state) in regard to non-compliance with the Truth in Lending Act or other comsumer protection laws? - I'd be VERY CAREFUL with your answer here, Frank.

2) Are you suggesting that if I (as a consumer) have a current copy of my credit report that I should still pay a fee to Earth Mortgage so they can verify the accuracy of that report and give me an accurate GFE? Even if I, as the consumer, obtained such a credit report from one of the major agencies directly?
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#38 REBUTTAL Owner of company

Knowing what your credit score may or may not be

AUTHOR: Frank - (U.S.A.)

It is impossible for someone to know what their credit score is unless you have a current copy of your credit report. If you do you should let your lender know and send it so they can verify that this is correct.

Unfortunately there are way to many lenders that will quote you a rate they cannot provide. We call it LOWBALLING. EARTH MORTGAGE WILL NOT LOWBALL A CLIENT. We would rather you use another another company and find out the HARD way!!!
As far as complaints.

We have closed in excess of 9,760 transactions in the last 3 yeears with a total of 14 complaints that all have been resolved. Not bad if i may say so.

As far as collection an application fee. The lender has to be protected. If the lender is paying for your credit report and for your appraisal I don't see why it shouldn't be collected.

All of our loan officers a licensed by the state of texas. If you do not have a license you do not originate Texas loans!
Thanks
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#39 Consumer Comment

So... I have my credit report

AUTHOR: Tarturus - (U.S.A.)

Frank, I have my credit report. I know all 3 FICO scores. I know my debt level, I know my income. How come I have to submit an application and pay a fee to get an honest GFE if I know my credit scores?

If you suggest that rates can't be determined w/o paying a fee and running credit, how come you advertise rates?

Futher question: has your company ever been cited by the department of banking (any state) in regard to non-compliance with the Truth in Lending Act or other comsumer protection laws?
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#40 REBUTTAL Owner of company

BOGUS COMMENT FROM A CLIENT WITH UNREALISTIC GOALS!

AUTHOR: Frank - (U.S.A.)

Earth Mortgage always makes sure that our clients demands are met, NO EXCEPTION. We clearly state to all of our clients that Earth Mortgage only will quote ACCURATE RATES and FEES.
Unlike many of the other mortgage companies who practice BAIT AND SWITCH we will only quote a rate we can deliver. These companies that JUST send out a Good Faith Estimate without knowing you CREDIT INFORMATION ARE lying to you!!!!!!!!!!!!!!!!

If standing behind our HONEST approach of doing business by finding out what type of credit a client has, which I might add leads to an ACCURATE quote, constitutes unfair business to this client that is plagued with deception, than I am glad NOT to earn HIS BUSINESS!!!!!

Honest, Accurate Quoting is all we preach.

The information on GOOGLE that this client claimns, was a false claim by a FLORIDA company who was using our name illegally!
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#41 Consumer Suggestion

Mr. Oswald is 100% correct, It is a scam.

AUTHOR: Steve - (U.S.A.)

As a former loan broker, I can tell you all a few things.

"Application" fees are not only unethical, they are illegal in most states. Most states allow only the actual cost of a credit report to be charged up front and any other fees that represent a profit from the application itself are illegal.

As far a quoting rates, this is a common problem, but the way this company handled it was wrong. I have quoted before application on many occasions. There are a few different ways to do it. A telephone interview to gather pertinent data, then you just say based on the information YOU have given me, here is a ballpark rate. This rate could be different if the information you gave me is not accurate.

Also, here is the range of rates we have available from various banks, based on your situation.

ANY mortgage broker or bank that charges an upfront pre-application fee is a FRAUD.
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#42 Consumer Comment

A fee should not be required to quote a rate

AUTHOR: Dcg - (U.S.A.)

Holly, I agree with you in principle.

That is, if I cannot accurately say what my credit is, then I would not expect a lender to quote a rate.

Please educate me - and the rest of the consumers reading this - if I go to bankrate.com to compare various lenders, do I naturally assume I can get that rate if I have marginal credit? No. Do I assume I can get that rate without having an agreement with the lender in place? No.

What I am talking about is a company who advertises a "best rate" - and then refuses to quote that rate or the financial conditions required to obtain that rate without the consumer submitting an application and paying a non-refundable fee.

I have excellent credit. I know what my income is, I know what my debt level is, and I know what my FICO score is from all 3 credit agencies.
If I lie and tell a mortage broker that my credit is 790, and they offer me a 5.75% rate, but by credit comes back as 690, I am doing a disservice to myself...

I called Earth Mortgage - asking for the best possible rate. If I did not qualify, I would be understanding of that situation. However, I'm not willing to submit an application, pay a fee, and have my credit hit (a couple of points for the inquiry) just to find out what my rate COULD BE.

Again, I strongly urge consumers to do due dilligence on this company - check with the state of TX in regard to who you are speaking to - make sure your "loan officer" is actually licensed in the state of TX, which mine claimed to be - but was not. "Complaint Station" had a host of consumer complaints against this company... Some of which can be found in google caches.

A company that pays to adverise a rate, refuses to quote that rate to customers, and then requires a "fee" to see what their rate is - they won't get my business...

I expect to get a rate quote for best case. If I can't qualify for that rate based on my particular credit - shame on me... But I shouldn't have to pay a fee to find out what my rate would be. Most educated consumers KNOW their FICO scores - or can find out - which is all the information the "loan officer" needs to come up with a ballpark rate!
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#43 Consumer Comment

You are way off on this one

AUTHOR: Holly - (U.S.A.)

There is not a mortgage company in the world, who could give a quote without running your credit. If they did, they would be lying to you. Lenders have no idea what they can lend you without a credit check. To give someone an accurate quote without this information is impossible. You may very well know what your score is, but the lender still has to verify it. And depending on what type of lender they are could affect their rates as well. How mad would you be if they quoted you at 5%, took the application, and then came back and said 8%? You'd probably be pretty ticked off. That is exactly why lenders don't do it. You can't possibly quote someone without know what you're dealing with. And just because somebody says their DTI is such and such, and their credit score is in the 700's, does not mean it's true. I have worked for a mortgage company and each and every time a customer would tell me this, it was never true. You want a good quote - you're going to have a credit report run, bottom line.
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