- Report: #139417
Report - Rebuttal - Arbitrate
Complaint Review: NLC
NLC3673 Westcenter Drive Houston, New York U.S.A.
NLC, NLC Of New York, Ripoff False Promises Richmond Hill Nationwide New York
*UPDATE Employee: Get The Facts
*Consumer Comment: Nate how do we contact you?
*Consumer Suggestion: Hello Nate...Is NLC really that bad?
*UPDATE EX-employee responds: I am no longer with National Lending
*UPDATE Employee: Branch Manager
*UPDATE Employee: Outsourced IT Consultant ..I agree that all NLC members should refrain from typical MLM recruiting tactics of forceed dream building
*UPDATE Employee: National Lending is a Legitimate and Ethical Company...for the most part
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I didn't have a job and wanted to get in to something as a beginner. A new friend at a common meeting place lured me to NLC as a great place for making money & the possibility for working from home at your own hours (would be ideal for a mother of 2, right!) She mentioned mortgage business and all names like Washington Mutual, Chase, Citi, and all such big banks are the primary sources for their lending business. At a Business presentation meeting at the Richmond Hill, NY office, Mr. Rio, a branch manager presented how great the business is and said they generate thousands of loans more than their competitiors which keeps their costs so low and very competitive to local banks and brokers. He also mentioned that they dealt with every bank. They mentioned that NLC can even gurantee rates in the middle of night when other brokers and banks are closed for business. They help everyone succeed and offered free classes to train everyone become a loan officer. His contention was they make money when I bring a loan. Even though I am skeptical, I thought at least I can learn about the business for $125 even if their rates and fees are not as good as they promise.
They held classes every week for about 2 months, but that covered only how to fill in a loan application. That's it! Classes are over.
Since I didn't know how to proceed when I had a client, I asked for help from my immediate superior who introduced me to this and promised me all the help. Verbally a rate was quoted by this superior and when the customer insisted on written quote, an outrageous expensive quote was sent.
We sent a honest information seeking eMail to Mr. Sookram (Branch Manager for this NLC and top of our heirarchy, New York), but he never replied. We asked him simple questions like, Where do I find the various bank's broker quotes for NLC (general area at myNLC gave quotes only for 3 banks out of which HSBC was the only brand name recognizable), who is my superior to work with in clearing loans and getting proper good faith estimate, what are the steps in training, what kind of customers should I target, etc. Our immediate superior had no answers either and we bruised our relations with them.
Realizing that we lost our $125 and valuable time, we decided to stay away from them and also advised any one that we know to stay away from NLC.
Lesson learned! If you can't lie to your teeth and don't bother about converting friends to enemies, stay away from NLC and similar multi-level fraud schemes.
valley stream, New York
This report was posted on Ripoff Report on 04/19/2005 01:05 PM and is a permanent record located here: http://www.ripoffreport.com/r/NLC/Houston-New-York/NLC-NLC-Of-New-York-Ripoff-False-Promises-Richmond-Hill-Nationwide-New-York-139417. 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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