Financing in Phoenix>Question Details

Rosemary Cor…, Home Buyer in Phoenix, AZ

is the lending center rated good?

Asked by Rosemary Cortez, Phoenix, AZ Sat Oct 27, 2007

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8
In my opinion, The Lending Center called and called us to refinance when we did not want to, made us promises that were not kept, charged us WAY too much, for a toxic inferior SUB-PRIME loan and as a result, we are awaiting foreclosure on our retirement home in Texas. I deeply regret having dealt with The Lending Center and recommend others to choose a lender who cares about your well-being, if you can find one.
Lloyd Cole, Ovilla, Texas
0 votes Thank Flag Link Tue Dec 7, 2010
I am one of the officers of The Lending Center Inc in Houston, TX. This company is a mortgage broker firm and is licensed with the Texas Savings and Mortgage Division and is in no way affiliated with First NLC. This company has been a mortgage broker firm for more than 18 years. The website for this company is http://www.thelendingcenter.net. It is locally owned and operated. First NLC moved into Houston, appx 3 years ago, filed a d/b/a as The Lending Center and wreaked havoc in the area. They only lasted appx 2 years and are now defunct. I still receive mail and telephone calls from irate clients about this company. Since our legal name is The Lending Center Inc they are convinced we are the same company. However, I patiently try to explain to them that this defunct company had a legal name of First NLC d/b/a the lending center. My company does all types of mortgages but only in the State of Texas.
0 votes Thank Flag Link Wed Mar 11, 2009
Rosemary,

I've never heard of them. As others have suggested, get a referral from a quality agent. We deal with lots of lenders and know who is "good" and who certainly isn't.
0 votes Thank Flag Link Mon Nov 19, 2007
I'm not sure what you are looking for. If you are looking for information on mortgages you might want to look at GetPrequalified.com
0 votes Thank Flag Link Mon Nov 5, 2007
Good Day Rosemary

I'm not sure what the Lending Center is exactly but i would say your best bet is to speak with a mortgage consultant in person in the area you are looking to purchase a home. There are a couple of different things you can look into. There are mortgage brokers and mortgage bankers. Bankers hold their own loans, example Wells Fargo, Bank of America, etc. Brokers have access to many different bankers to better 'shop' your loan for the best interest rate. I am a mortgage consultant as well as a loan officer. Please let me know if you have any other questions that i might be able to assist you with.
Have a great day! Best of Luck!
Web Reference: http://www.ilonapoka.com
0 votes Thank Flag Link Sun Oct 28, 2007
Rosemary,
One of the things I like to tell my clients who are looking for a loan is compare apples to apples. This is really hard to do if you have bought only a few homes in your lifetime. Lending like any business is a for profit endeavor. When looking at a The Lending Center you want to know the parent company (First NLC Financial Services, LLC®.) Because this company specializes in subprime loans you want to make sure that it will be solvent at time of closing.
Best to talk to a Realtor and ask who they prefer to use, or look for a local Mortgage Broker with a good reputation in the community.
Web Reference: http://bradbergamini.com
0 votes Thank Flag Link Sat Oct 27, 2007
It is my Opinion that the lending Center Just sells your information to Loan Officers in the Area.
That's my Opinion.

Here is my Short List of Loan officers BLOGS who are Rated very Good. In no particular order

http://activerain.com/gmiljour
http://activerain.com/blogs/azbrady
http://www.azmortgageguru.com/
0 votes Thank Flag Link Sat Oct 27, 2007
Mr.P, Other/Just Looking in Arizona
MVP'08
Rosemary,
What's the lending center? Is that one of the national sites that says it will shop your loan for you? If so I would suggest you talk to friends and family who have purchased a home recently and get referrals to two or three local loan officers or brokers. It is always easier to work with people you can meet face to face and who know your local and state guidelines.
Michael
0 votes Thank Flag Link Sat Oct 27, 2007
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