noelle s.'s review of

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Instant Capital
4.9 star rating 2252 miles
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Customer Reviews & Ratings
Complaint Posted 4/1/2011
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Review 4/1/2011
Very poor experience so far. The upfront promises were great, but the refi experience has been horrible. Loan of 215k, their own appraised value of 480k on my home currently financed with Bank of America. Thats 265,000 of equity and I am a combined 790 credit score. I have had no late payments in 15 years on my credit, not even a credit card payment late and Lending Tree continues to come back from underwriting with question after question, letter after letter, more documents, more ducuments and thats all after 3 years tax returns, pay stubs, entire divorce decree submitted andeverything else thay asked for. What a waste of my time. I feel very taken, mislead and pushed off. I set it allup with a lending officer but as soon as I had a home assessment I got sold off to some other employee. I was promised great service but transferred so fast, so my loan officer could just keep selling loans that he was supposed to be servicing "throughout my expeience with Lending Tree." I was told.... Everyone here that apples has A+ credit, and about everyone has that kind of equity in their house. (Wow make me feel special)
One more issue and Im outta here and going back to a regular large bank, like Bank of America or JP Morgan Chase. I feel like real garbage as they question and question me. I cant imagine if I didnt have perfect credit or I had one late payment,uugh those poor people.
Business's response - by Executive Relationson 4/26/2011
Dear Noelle S. – We appreciate you taking the time in providing a review regarding the service you received from our staff. It is always our intention to provide every borrower with an exceptional loan experience and sorry this has not been the case for you. Mortgage loan approval rests on several things; income, credit history, debt ratios, savings. Borrowers must be able to prove the income needed to afford payments within a verifiable and stable job history, and must have a credit history that shows a record of repaying obligations and fiscal responsibility. Additional monthly debt must fall within acceptable limits as determined by the loan program guidelines. Every loan application is submitted to an underwriting department. The underwriter has final responsibility and approval for a loan. No lender funds or closes on a loan without the approval of an underwriter. It is the job of underwriters to make sure all of these factors meet particular loan guidelines. They make sure that all of the tax, title, insurance and closing documentation is in place and underwriters also review the appraisal to make sure it is accurate and thorough. If the underwriter has any concerns pertaining to the information in a loan file, they may request additional supporting documentation or explanations from the borrower to be utilized as part of the loan approval process. A borrower’s loan team simply conveys the underwriter requests to our borrowers, and every effort is made to help minimize the number of requests. We sincerely hope this information has been of assistance in clarifying your concerns. Your are welcome to contact our Executive Relations Department at 888-369-0001, should you require any further information or assistance.
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Hours   Phone   (888) 369-0001 Address   163 Technology Drive
Irvine, CA 92618
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