Texas Lending.com Another poor experience Dallas Texas

THE STATEMENT ABOUT A FORMER EMPLOYEE THAT CLAIMED THAT I TOLD THEM TO SLAM TEXAS LENDING IS FALSE.

This is a disgruntal employee that was terminated by Earth Mortgage!

The comment from "Frank with earth Mortgage" makes no sense. I know that the complaints against TL.com are true and real because I and my family were one of the victims of this company, recently. So whoever reads these complaints and is thinking about doing business with TL.com, your experience with them may be better than ours was, but nontheless, BEWARE.

Don't be fooled - this complaint is Frank (President) with Earth Mortgage. I used to work for Earth Mortgage and Frank Cortese would do these fake complaints against Mortgage Company's that he was competing against on this website all the time. After Frank posted these complaints he would advise his Loan Officer to go back and notify the prospects that the Mortgage Company they were dealing with had complaints on ripoffreport.com. This complaint definitely sounds like one of his fake complaints...

Quick note - I never asked for a 15 year fixed loan. I was looking for a 5/1 arm or a 30 year note. As an opinion, I question the practices of any mortgage company that needs to advertise as much as TL does. Generally when someone is trying too hard to sell a product, people don't need it.

How convenient for Texas Lending to leave out the amount of wasted money on the home appraisals. I was seriously looking into Texas Lending until I read this report and the pathetic rebuttal Texas Lending provided.

I apologize for the lack of clarity regarding this loan considering the complaint came 4 years after this consumer was working with our company.

Upon review of the data file it appears Texaslending.com had a loan for the consumer but it did not meet the satisfaction of the client.

Texaslending.com is legally unable to disclose credit scores, debt ratios etc. regarding consumers.

For all those considering the comments in this complaint please be aware that mortgage rates were at 7% in april of 2002 (and have not reached that level since then) and dropped steadily to 5.75% in November of 2002. If another company was able to improve debt ratio by locking a loan at lower rates in November then it is quite likely this loan was able to close under the terms the client desired.


Please be aware that neither Texaslending.com nor any other mortgage company governs the movement of rates that may determine the viability of a loan Fannie Mae or Freddie Mac guidelines.

Debt ratio was an issue with this loan along with credit scores being less than perfect. The consumer wanted a 15 year fixed mortgage even though the high ratios did not make it possible at the time. A better option to improve debt ratio when rates were high would have been the 30 year fixed for lower payments.

When rates dropped over time it surely became a more viable loan and if the credit scores improved along with the improved rates it is easy to see how the loan became possible under terms acceptable to the client.

It is also easy to see how a mortgage company quoted better rates after this consumer last spoke with Texaslending.com. We too quoted people better rates to consumers in late 2002 yet we credit this to the market and not to any attributes of the character Texaslending.com. In the same regard we find it healthy to not accept blame or responsibility or a rip-off moniker when market rates increase, anymore than I would take credit for the rising or falling of a publically traded company's stock price.

It is irrational that Texaslending.com or any other company would not close a closable loan as mortgage companies and most loan officers only get paid if loans close.

It sounds like the consumer got a good loan and that is all we can ask for anyone.