Description: The article is about lending club login. This is an introduction about Lending club. The author introduces some great features about the Lending club. He also introduces some great lenders he is dealing with. Lending is not a mere commodity.
Today I want to talk to current customers who want to use other lenders. It has nothing wrong with using other lenders. A lot of people think that lending is a mere commodity,you can go to Lending Tree.com and buy it. It doesn’t work in that way,there’s a lot of paperwork,there is a lot of process to run. There are thousands of steps involved.
We already have our own lender,they hop on the internet and find some random internet bank. Who’s going to deal with the problem when it happens? It happens a lot. There are three examples of what has happened with people that get their own lender.
One person was told that instead of being allowed to put 3% down,they had to put five or seven percent down,this happened three days before in one of the credit unions. That was horrible about the cleanup. Last week,we had someone from one of the larger five banks said that they incorrectly gave them a lender commitment letter and they would not finance the loan period.
They have to clean up the whole deposit,there is a major hassle factor. The lender was going off on vacation and they were too quick to give the lender letter. The second trust suddenly is not coming through,it is going to close tomorrow. I’ll use my lender until something happens,there is a concern of using a Realtors lender or lender that realtor recommends.
It’s something called RESPA,RESPA has to do something with antitrust and companies,they call them affiliated business arrangements. If you have a realtor that recommends a lender,you have to ask them. Are you getting any kickbacks?
Are you getting any partnership deals? Is the lender paying for half of the Realtors? It is a trick to get a rut around,they are illegal kickbacks,sometimes they’re in partnership with the firm and with the real estate company. The real estate company is part of the lending company,they tell the Realtors to use their lenders otherwise you won’t get these bonuses because they can’t get kickbacks directly,they can get their gold star or the premium parking lot. They will not be harassed by the manager for not using their lender.
You have to be careful for recommended lenders,the lenders that we recommend are not affiliated with the company,I get no kickbacks. They buy me lunch. We’ve got two or three lenders that we rely on,it’s important to have someone helping,I’ve worked with them for four or five years,they have not missed a closing.
Three internet banks and random lenders have caused problems in three recent deals,there’s no accountability. These are other random internet companies,they are better because people have checked around,the lenders that I recommend are competitive.
That usually is moot but they caused a lot of problems,they have no accountability. I was getting that,I got distracted because I’m driving. There’s no accountability. If they screw you or mess up on your loan,no one cares. You’re one random person. One of our lenders messes up,they’re going to get any more referrals from us. It’s a higher priority for our lenders to make sure that they do a good job.
If you want to use your own lender,that’s fine,you’re allowed to do that. We cannot make you do this. This is pre-emptive,if something goes wrong during the time you use one of our lenders,you can give us a hard time,there’s no guarantee.
You will be better with someone who has accountability. Someone will have a problem and they can come back to this article. I’m not going to guarantee about it. We will get better results and great rates with the lenders that we recommend.