- Report: #1032205
Complaint Review: Union Planters - Internet
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Author Not Confirmed
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Union Planters
Cape Girardeau Internet, U.S.A.
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More and more I have been hearing from mortgage brokers that they have been pressured by lenders to manipulate loan applications in order to get loans done. Most of the lenders that are being accussed of this seems to be lenders that sell their loans
Brokers are being pressured to do thing like ie a person may only make $1,500 a month, but you as a broker utilizes a lender that offers stated loans, which means you only state the income, so the account Rep tell you to put what ever income you need to make it work. Then if the loan goes into default they say that you knew not to state income that was not accurate
If you have been pressured by Union Planters or any other lender to make the income enough to cover the loan while doing stated loans post your reply. Or anything else.
Chris
charlotte, North Carolina
U.S.A.
Brokers are being pressured to do thing like ie a person may only make $1,500 a month, but you as a broker utilizes a lender that offers stated loans, which means you only state the income, so the account Rep tell you to put what ever income you need to make it work. Then if the loan goes into default they say that you knew not to state income that was not accurate
If you have been pressured by Union Planters or any other lender to make the income enough to cover the loan while doing stated loans post your reply. Or anything else.
Chris
charlotte, North Carolina
U.S.A.
3 Updates & Rebuttals
John
White,Georgia,
U.S.A.
I don't think I am naive
#2Consumer Suggestion
Wed, August 25, 2004
What is a Sapena? (Genius) Do you mean I am naive? What is nieve? (Genius) Before you spout off about me lets set a few of the facts straight that you mentioned in your own report. A subpoena is not a charge but is just calling them in to be a witness. Do you think that they will actually asmit they coerced a person to lie on a loan application? Lying on any kind of an application can be charged as fraud. The consumers who do this are the ones at fault legally. Maybe they believed these Brokers that lying on your application is OK. Sounds like you are spouting off because maybe you are one of the "Not So Smart" people that fell for this and are now in financial hell.
Chris
charlotte,North Carolina,
U.S.A.
Maybe you are being nieve
#3Author of original report
Tue, August 24, 2004
Several brokers have just been sent a Sapena about just the things that I have spoke off. Next time before you are so quick to hit your reply key maybe you should do a little research { Genius }
John
White,Georgia,
U.S.A.
How can you be so stupid????
#4Consumer Suggestion
Tue, August 24, 2004
How can you be so dumb? The signature line at the bottom of that application says that all the information on that application you are filling out is true. If you get a loan from this application and the lender finds out you will be sued and lose everything. Not only the house but any money that you have put down and even more. Don't take anyone's word for it. The risk is too great........
