Complaint Review: TEXAS LENDING

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I just viewed these comments by Turkish 78 and as an employee of TL.C for last five years or so find these to be offensive and blatant fabrications. I have been a mortgage professional for about ten years and in sales in general for last 20 years. It's unfortunate that we were unable to help one of our clients. We try our best to get the clients the best deal possible and get them to the closing table as quickly as we can and also keep our clients informed throughout the process.

I would love to help everyone that calls in and close their loan in a day but we do have our limitations as well as standards. We take pride in being professionals and coming through for our clients when other companies have simply said NO.I bought in to the company philosophy of helping clients and giving them all the pertinent information so they can make an informed and educated decisions. It's not just about the money here at TL.C like Turkish 78 claims it's about a higher standard. Yes, we are a profitable business and last time I checked we never claimed to be a charitable organization. I take pride in being a part of this company and occasionally we do have folks who like to come in with the guns blazing and having get rich quick mentality but are quickly disappointed because we believe in hard work and giving a fair deal to our clients.

I have personally worked with a client for almost a year and a half before we were able to help that client close. I could have taken the easy way out and denied the loan but again we are a different kind of Mortgage Company. I'm sure I have received my share of lawn mower leads in last five years but as a sales professional it's my job to sift through these and help as many folks as possible. It takes dedication, hard work and a belief that I have an opportunity to make a difference in someone's life and believe me folks the satisfaction for that far exceeds any commissions that I may generate.

I was told by Kevin Miller (owner) to have a five year plan which basically means helping as many folk as you can and if you do a great job they will not only be your clients for life but will refer you to family members and friends. If we believed in a making a quick buck we would not have survived in this market with adverse conditions. We are here to help folks that are about to make one of the biggest financial decisions in their lives with our dedication,honesty,professionalism and can do attitude and we know that makes us a different kind of mortgage company.
I would highy encourage anyone who has questions or concerns about TL.C to pick up the phone and see for yourself what "different kind of mortgage company" means.

My name is Dan Pansing and I do not necessarily agree with this kind of anonymous forum, but felt compelled to address Turkish 78, for that reason I give my name. In addition this is not an invitation for argument, just my observations as a Loan Consultant for this Company for over 6 years and having a small part in the tens thousands of loans we've closed. That being said, this letter from Turkish 78 is a perfect example of someone who just didn't get what we are trying to do at here. I will routinely take an application (and our 99.00 Good faith deposit, that is credited 100% at close), from a client that, at this time does not qualify for a mortgage loan. We then work with them on their credit, (we also provide a credit simulator to raise scores), and any number of other factors that are preventing them from getting approved at the present time. I currently have many clients I have been working with, some for months, and have every intention of getting every one of them approved and closed. I routinely close clients every month that were originated months before.(It is important to note that no one at here gets paid for any effort and time if the loan does not close).

Another part of Turkish's letter that is absolutely incorrect is his statement about fees, and our disclosure of those fees. It is our policy to disclose not only our fees but the fees of all third parties involved, and re-disclose throughout the process if anything changes, i.e. home owners association, flood insurance, title fee changes, survey, ect; up to and including a mandatory re-disclose the day before closing. As far as pushing Adjustable-Rate-Mortgages, I can tell you as someone who has sit through 100's of sales meetings, no one has ever, not once told us to push ARM's, as a matter of fact, the totals opposite is true. Before we were a Bank we were a Broker, and Wholesale lenders would come to us with their score driven, (Sub-Prime) loan products, and we were told specifically to use FHA if the borrower met the FHA criteria. With that in mind we did have clients that with lower scores that specifically wanted 100% financing as quickly and as easily as possible. Lastly, our philosophy is pretty simple, it comes from Zig Ziglar; You can have everything you want in life if you help enough other people get what they want.

I have read several of the complaints and rebuttals regarding TexasLending.com and I just wanted to give another point of view from someone who was actually there and saw what goes on behind the scenes. First and foremost I gain nothing from what Im about to say since I no longer work for this company and with the way the economy is going consumers need to be as educated as they can ESPECIALLY when do anything with their home. During my time with this company I saw the way customers were treated and what many of the loan officers were expected to do in order to be successful. To begin with, you spend most your day calling "leads" issued out by Kevin based on a ratio of leads to applications. Upfront you are told to collect the $95 WHICH IS NON REFUNDABLE to "lock" someone in. This is one of the biggest issues there that is pushed and you didnt want to be the one who wasnt getting these payments because you soon saw a huge increase in law mower leads sent your way. Law Mower leads were leads that were dead to begin with but Kevin felt the only way to learn was to work these dead end leads anyways. Try do a cash out refi with a DTI ratio that is at 95% and you get the idea of what these leads were. Furthermore, we used a ton of lenders who specialized in sub prime rates and they would be used first to make the most profits. Many customers were never told about fees because so many of the loan officers were new hires thrown into the mix that had to learn as you go. So the consumer had to basically "pay" for our training mistakes! I wont say there were not some people who were there to make a difference in someones life with a new mortgage but most were out to make as much money off one customer as they could. We pushed ARMS because they would have to refi in a couple years and that only produced more business. I know I was told several times to with hold an appraisal amount if we could get the customer to cover it "unknowingly" with a down payment. I could go on and on about things but as a consumer you need to inform yourself about the businesses you use ESPECIALLY when involving your home, because they will take it. I would just warn against using this company because if you are able to dig through all the paperwork and back and forth, most likely they are hiding something.

Texaslending.com is the Consumer's Choice Award Winner for mortgage lenders in DFW for 2007 and 2008. We have never bought a loan back after lending over $4 billion in loans while other companies are going out of business. We do not write and negative amortization loans which has put several recent banks out of business.

Terry Yosten, and Michael Sturm, do not deserve to have their names slandered in public due to the poor choices made by a consumer who was "DESPIRATELY SEEKING AN ANSWER TO WHICH MORTGAGE COMPANY COULD RESCUE ME".

Mortgage companies are not here to rescue people. We are here to facilitate a financing transaction for people that do not have the means to present financing of their own. The decision of whether a person may obtain financing is subject to the documentation, credit, income, assets, and liabilities of a consumer as presented by the consumer. In this case the client was prequalified and approved. The client made a decision of their own to increase their liabilities to a point where financing was no longer feasible. Therefore our job as facilitator came to an end. Texaslending.com gained nothing for our effort. This client needs to take responsibility for there actions and discontinue blaming others for issues that others did not present.

There is absolutely no way any loan officer in the mortgage industry would tell a client to buy a new car while in the middle of the mortgage loan process. There is no financial or emotional benefit in it for any mortgage company to tell a client to buy a car and there is no fianancial or emotional benefit in it for a mortgage company if a loan does not close.

Therefore, nothing in this claim remotely resembles any wrongful act, any poor decision making, or any technical negligence by our company. All decisions made and acts committed to cause denial of this loan were made by the consumer.

Upon speaking with Terry here is his response.

Kevin,

The very last thing I would tell someone is to go purchase a new car in the middle of a transaction like this. This client told me they had a vehicle break down on them and needed to purchase one as they needed the transportation. I explained to her by doing so, it could definitely mess things up. They went out and purchased a new car within a week and proceeded to tell me about it after it was said and done. Not a replacement for the old truck, but a brand new $23,000 car. Seriously, even when I first started, I knew better than to tell someone to buy a car during this purchase.


Kevin, I did not treat this client the way she is claiming, and she did purchase this car without telling me. She happened to forget the important contents of our conversation so that she may favor her claim.


Now this is the first thing people see when they search my name on the internet, and it sure seems unfair that we tried to help this couple and this is how I get treated for it. I am sorry the company's name is attached to this, and I feel as though I did the right thing to help the client the best we could.

TY


Texaslending.com spent time, effort and significant money to help this client buy a home, and got nothing for our care and effort. This should be removed from this site as it demeans the purpose of the site. According to Meriam Websters Dictionary a rip-off is;
an act or instance of stealing, or a financial exploitation.

In this case Texaslending.com gained nothing financially due to this client's actions. All fees paid were paid to third parties on the client's behalf to facilitate financing of a home. The client paid earnest money to a title company. They paid appraisal fee to an appraiser. They paid termite fee to a termite company, and the $99.00 fee to Texaslending.com was paid to Fannie Mae, Freddie Mac and credit report agencies on behalf of this consumer to help them obtain financing.

To assume that Texaslending.com benefits from earnest money, appraisal fees, etc. ignores facts and distorts the truth and understanding of how a mortgage works.

Rip-offs in the mortgage industry have occurred in this country from lenders who made excessive fees for terrible loans at the exploitation of consumers. Companies like Ameriquest, or some of the bad Subprime lenders, or companies that offer Option Arms, etc. that were for company gain and consumer pain are where rip-offs occur.

A distinction must be made of what is printed on this site or else many innocent companies and individuals will get wrongfully tarnished, including ours.

Sincerely,
Kevin C. Miller
President/CEO
Texaslending.com

This is an interesting point of view coming from Tina. I am not able to disclose any details of her transaction as it is not ethical or legal. What I can tell you, this is not accurate information. Please re-read the information given by Tina to determine what was given to work with. It is important for anyone taking this seriously to do your homework on Texas Lending.Com. It are the fastest growing Mortgage Bank in Texas and the winner of the Consumers Choice Award 2 years in a row. This is not by accident, and was awarded by the consumers I/we have helped.

Unfortunately, Tina had a bad experience with me just as she said she did 2 times before us. Pattern? Not sure. 1%, not sure either. I am hopeful Tina will be able to obtain financing one day and take responsability for her own actions.

For anyone taking Tina's accusation seriously, do not do yourself a disservice and not look into Texas Lendining, as it is a wonderful company to work with. It has hard working men and women in it just like you. These guys are dedicted to success, and success is happy clients.

I do thank you all for taking a moment to read my rebuttal, as I feel as though I was unjustly attacted. I leave you with one final thought.

"Responsability looks forward, and blame looks backwards." -- Brian Tracy