• Report: #95177

Complaint Review: Instaloan Systems - Instaloanapproval.com - National Mortgage Resources - ComUnity Lending - BNC

  • Submitted: Wed, June 16, 2004
  • Updated: Tue, July 13, 2004

  • Reported By:BARTLETT Tennessee
Instaloan Systems - Instaloanapproval.com - National Mortgage Resources - ComUnity Lending - BNC
1348 EAST 3300 SOUTH Salt Lake City, Utah U.S.A.

Instaloan Systems, Instaloanapproval.com, National Mortgage Resources, ComUnity Lending, BNC all rip-offs! Fraudulent online work from home job opportunity and preditory mortgage lending practices in Tennessee, Arkansas, Mississippi, Utah

*UPDATE Employee: CLI has no affiliation with Instaloan Systems, Instaloanapproval.com

*REBUTTAL Owner of company: SET THE RECORD STRAIGHT

*REBUTTAL Owner of company: SET THE RECORD STRAIGHT

*REBUTTAL Owner of company: SET THE RECORD STRAIGHT

What's this?
What's this?
What's this?
Is this
Ripoff Report
About you?
Ripoff Report
A business' first
line of defense
on the Internet.
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

Does your business have a bad reputation?
Fix it the right way.
Corporate Advocacy Program™

SEO Reputation Management at its best!

Be aware! These MORTGAGE BROKERS (Preston Blair & Ross Braodbent)have been guilty of recruiting salespeople over the internet offering them the opportunity to work from home as a loan originators. The start up fee is $100 and they claim to pay you 55% of the origination fee once the loan closes.

Once they have you on board and submitting leads, 30-45 days later they inform you that your files have all of a sudden canceled and they were not approved. They also tell your client the same thing in a sympathetic type way, however in an effort to help the client out they offer information to someone else who might be able to help them!

That someone else is the same organization! They funnel the customers back through another one of their dummy companies and cut you out of the deal. The client hasn't a clue and doesn't really care as long as they're satisfied with their loan. This is done on all customers who have excellent credit.

Senior Citizens and homeowners with low credit scores are being deliberately lied to...and scammed!They are being told they have been approved and it only takes 30 days to close the loan. They are then told they must pay $400 (deposit to lock the loan) These customers are so excited that someone can help that they eagerly pay the non-refundable deposit. Some of them have missed their mortgage payments, used their social security checks etc.

The company simply strings them along for a while then informs them they have been denied. THEY KEEP THE $400!! THESE GUYS ARE DISHONEST & UNETHICAL. They have recieved several complaints with the BBB (Utah) as well as other legal actions concerning their business practices. If you're contacted by their organization INSTALOANS, INSTALOANAPPROVAL, NATIONAL MORTGAGE RESOURCES,ComUnity Lending or BNC MORTGAGE. BE AWARE THEY ARE CROOKS!!!

Adrion
BARTLETT, Tennessee
U.S.A.

This report was posted on Ripoff Report on 06/16/2004 06:43 PM and is a permanent record located here: http://www.ripoffreport.com/r/Instaloan-Systems-Instaloanapprovalcom-National-Mortgage-Resources-ComUnity-Lending-BNC/Salt-Lake-City-Utah-84106/Instaloan-Systems-Instaloanapprovalcom-National-Mortgage-Resources-ComUnity-Lending-B-95177. 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.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

Click Here to read other Ripoff Reports on Instaloan Systems - Instaloanapproval.com - National Mortgage Resources - ComUnity Lending - BNC

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Search Tips
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?
REBUTTALS & REPLIES:
0Author 1Consumer 3Employee/Owner
Updates & Rebuttals

#1 UPDATE Employee

CLI has no affiliation with Instaloan Systems, Instaloanapproval.com

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

ComUnity Lending, Inc. (CLI) was affiliated with InstaLoan Approval from February 4, 2004 to June 1, 2004. In that time period, they operated under our licensing as employees of a HUD approved, State approved, and RESPA regulated Branch.

We terminated the contracts of all those mentioned in the post on June 1, 2004. At no time in our short affiliation with these employees were any employee wages withheld or any employee underpaid.
We stand by our 24 year reputation as a HUD approved, State and Federally compliant, and consumer conscious Mortgage Banker.

CLI has no affiliation with Instaloan Systems, Instaloanapproval.com, National Mortgage Resources or BNC. All representations that CLI (or our DBA InstaLoan Approval) was affiliated with these companies in any way was without our knowledge or approval, and was not representative of the views or legal evaluation of CLI. Any questions or concerns please direct to our Compliance Officer or visit our web site at www.comunitylending.com
Respond to this report!
What's this?

#2 REBUTTAL Owner of company

SET THE RECORD STRAIGHT

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

The person who entered the comments (Adrion Bartlett) had been fired by our company "for cause" as defined in his contract. He lied, misrepresentated facts to customers, made false accusations and threatened our staff.

He located a person in another state with the same name as Preston Blair who is one of our partners (no relationship), then told people we moved his loans to that state to close them so that he wouldn't get paid. Totally False!

He claimed we set up dummy companies to funnel his loans elsewhere. Totally False!

He claimed that senior citizens were promised loans and that we collected $400 from them and never closed their loans. In fact, we offer the HUD Reverse Mortgage to Seniors and we never collect a dime from any of them. Accusation Totally False!

Adrion claimed we collect non-refundable deposits to lock loans and mislead people causing them to miss mortgage payments or use their social security checks. In fact we don't collect ANY deposits from customers to lock loans. The ONLY fee we ever charge is for a credit report and there has never been a person miss a payment or use a social security check. Accusation Totally False!

The complaints he says were filed at the BBB were all sent by him where he falsly represented that he was actually the customer. Every complaint was answered and dismissed by the BBB. And, there are NO other legal actions like he claims and ComUnity Lending and BNC have no relationship to InstaLoanApproval other than as standard mortgage investors who purchase loans that meet their criteria. Again, Accusation Totally False!

Mr. Bartlett is the type who sends dozens of threatening bible quotes stating such things as "God shall strike you sinners asunder" and has also threatened us over the phone.

Mr. Bartlett submitted loan applications from potential borrowers in his area who had serious credit problems, needed 100% loans but they had very low credit scores, requested stated income loans because the borrower could not verify income or employment, etc.

In every case we explained the situation in detail to both Mr. Bartlett and the applicant. It was only Mr. Bartlett who complained and said we put his loans in dummy corporations. (Since they were his contacts and clients, we asked why he did not check with them about the actual status - but he claimed they would not tell him).

We have copies of dozens and dozens of email communications with Mr. Bartlett about his loans, reviewing every problem with him and explaining the situation and program guidelines.

We even prepared comprehensive reports to outline the situation on every application. Unfortunatly, he was already in dire financial straights before he tried originating loans, and he blamed us when he did not get paid - calling us unethical and crooks.

Currently, our attorney is reviewing the information to determine if we need to file a defamation and slander suite against Mr. Bartlett.

Our system allows originators (NO COST) to sign up, receive their own web site and originate loans through the internet. The same day the application arrives, we pull a single bureau credit report (NO COST to borrower or originator)to see if it matches one of our many loan programs (we offer A through D loans and special niche programs). The results are immediatly emailed to the originator and posted online for the borrower to review.

If there is a match, we suggest 2-3 program options. IF the applicant likes one of the program options (and rates) they can elect to pay for a tri-merge credit report so that we can quickly put the file through underwriting (still without any obligation)to get the closing conditions.

After the borrower looks at the conditions and tells us to proceed, we immediatly prepare the loan documents and email them to the originator to get them signed and returned. Our processing staff then fulfills the conditions and schedules the closing.

After the loan is closed and we have the check, a portion is sent to the originator who is our employee. Most of our employees are experienced loan officers or financial professionals who include this service for their clients. We are currently licensed to perate in about 25 states and expanding soon into other states.

If you have any questions regarding this rebuttal or our system please email us at: [email protected]
Respond to this report!
What's this?

#3 REBUTTAL Owner of company

SET THE RECORD STRAIGHT

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

The person who entered the comments (Adrion Bartlett) had been fired by our company "for cause" as defined in his contract. He lied, misrepresentated facts to customers, made false accusations and threatened our staff.

He located a person in another state with the same name as Preston Blair who is one of our partners (no relationship), then told people we moved his loans to that state to close them so that he wouldn't get paid. Totally False!

He claimed we set up dummy companies to funnel his loans elsewhere. Totally False!

He claimed that senior citizens were promised loans and that we collected $400 from them and never closed their loans. In fact, we offer the HUD Reverse Mortgage to Seniors and we never collect a dime from any of them. Accusation Totally False!

Adrion claimed we collect non-refundable deposits to lock loans and mislead people causing them to miss mortgage payments or use their social security checks. In fact we don't collect ANY deposits from customers to lock loans. The ONLY fee we ever charge is for a credit report and there has never been a person miss a payment or use a social security check. Accusation Totally False!

The complaints he says were filed at the BBB were all sent by him where he falsly represented that he was actually the customer. Every complaint was answered and dismissed by the BBB. And, there are NO other legal actions like he claims and ComUnity Lending and BNC have no relationship to InstaLoanApproval other than as standard mortgage investors who purchase loans that meet their criteria. Again, Accusation Totally False!

Mr. Bartlett is the type who sends dozens of threatening bible quotes stating such things as "God shall strike you sinners asunder" and has also threatened us over the phone.

Mr. Bartlett submitted loan applications from potential borrowers in his area who had serious credit problems, needed 100% loans but they had very low credit scores, requested stated income loans because the borrower could not verify income or employment, etc.

In every case we explained the situation in detail to both Mr. Bartlett and the applicant. It was only Mr. Bartlett who complained and said we put his loans in dummy corporations. (Since they were his contacts and clients, we asked why he did not check with them about the actual status - but he claimed they would not tell him).

We have copies of dozens and dozens of email communications with Mr. Bartlett about his loans, reviewing every problem with him and explaining the situation and program guidelines.

We even prepared comprehensive reports to outline the situation on every application. Unfortunatly, he was already in dire financial straights before he tried originating loans, and he blamed us when he did not get paid - calling us unethical and crooks.

Currently, our attorney is reviewing the information to determine if we need to file a defamation and slander suite against Mr. Bartlett.

Our system allows originators (NO COST) to sign up, receive their own web site and originate loans through the internet. The same day the application arrives, we pull a single bureau credit report (NO COST to borrower or originator)to see if it matches one of our many loan programs (we offer A through D loans and special niche programs). The results are immediatly emailed to the originator and posted online for the borrower to review.

If there is a match, we suggest 2-3 program options. IF the applicant likes one of the program options (and rates) they can elect to pay for a tri-merge credit report so that we can quickly put the file through underwriting (still without any obligation)to get the closing conditions.

After the borrower looks at the conditions and tells us to proceed, we immediatly prepare the loan documents and email them to the originator to get them signed and returned. Our processing staff then fulfills the conditions and schedules the closing.

After the loan is closed and we have the check, a portion is sent to the originator who is our employee. Most of our employees are experienced loan officers or financial professionals who include this service for their clients. We are currently licensed to perate in about 25 states and expanding soon into other states.

If you have any questions regarding this rebuttal or our system please email us at: [email protected]
Respond to this report!
What's this?

#4 REBUTTAL Owner of company

SET THE RECORD STRAIGHT

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

The person who entered the comments (Adrion Bartlett) had been fired by our company "for cause" as defined in his contract. He lied, misrepresentated facts to customers, made false accusations and threatened our staff.

He located a person in another state with the same name as Preston Blair who is one of our partners (no relationship), then told people we moved his loans to that state to close them so that he wouldn't get paid. Totally False!

He claimed we set up dummy companies to funnel his loans elsewhere. Totally False!

He claimed that senior citizens were promised loans and that we collected $400 from them and never closed their loans. In fact, we offer the HUD Reverse Mortgage to Seniors and we never collect a dime from any of them. Accusation Totally False!

Adrion claimed we collect non-refundable deposits to lock loans and mislead people causing them to miss mortgage payments or use their social security checks. In fact we don't collect ANY deposits from customers to lock loans. The ONLY fee we ever charge is for a credit report and there has never been a person miss a payment or use a social security check. Accusation Totally False!

The complaints he says were filed at the BBB were all sent by him where he falsly represented that he was actually the customer. Every complaint was answered and dismissed by the BBB. And, there are NO other legal actions like he claims and ComUnity Lending and BNC have no relationship to InstaLoanApproval other than as standard mortgage investors who purchase loans that meet their criteria. Again, Accusation Totally False!

Mr. Bartlett is the type who sends dozens of threatening bible quotes stating such things as "God shall strike you sinners asunder" and has also threatened us over the phone.

Mr. Bartlett submitted loan applications from potential borrowers in his area who had serious credit problems, needed 100% loans but they had very low credit scores, requested stated income loans because the borrower could not verify income or employment, etc.

In every case we explained the situation in detail to both Mr. Bartlett and the applicant. It was only Mr. Bartlett who complained and said we put his loans in dummy corporations. (Since they were his contacts and clients, we asked why he did not check with them about the actual status - but he claimed they would not tell him).

We have copies of dozens and dozens of email communications with Mr. Bartlett about his loans, reviewing every problem with him and explaining the situation and program guidelines.

We even prepared comprehensive reports to outline the situation on every application. Unfortunatly, he was already in dire financial straights before he tried originating loans, and he blamed us when he did not get paid - calling us unethical and crooks.

Currently, our attorney is reviewing the information to determine if we need to file a defamation and slander suite against Mr. Bartlett.

Our system allows originators (NO COST) to sign up, receive their own web site and originate loans through the internet. The same day the application arrives, we pull a single bureau credit report (NO COST to borrower or originator)to see if it matches one of our many loan programs (we offer A through D loans and special niche programs). The results are immediatly emailed to the originator and posted online for the borrower to review.

If there is a match, we suggest 2-3 program options. IF the applicant likes one of the program options (and rates) they can elect to pay for a tri-merge credit report so that we can quickly put the file through underwriting (still without any obligation)to get the closing conditions.

After the borrower looks at the conditions and tells us to proceed, we immediatly prepare the loan documents and email them to the originator to get them signed and returned. Our processing staff then fulfills the conditions and schedules the closing.

After the loan is closed and we have the check, a portion is sent to the originator who is our employee. Most of our employees are experienced loan officers or financial professionals who include this service for their clients. We are currently licensed to perate in about 25 states and expanding soon into other states.

If you have any questions regarding this rebuttal or our system please email us at: [email protected]
Respond to this report!
What's this?
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?
X