Complaint / Review
New Rate Mortgage Doug Brown License 1846
Ripoff, Corrupt, Crooked: History of Mortgage Fraud: Falsifications, misstatements, and missrepresentations, Houston

Broyd Inc. (License 1846) runs First Texas Residential Mortgage AND New Rate Mortgage (2 different DBAs), and has a history of overqualifying, misstating, and falsifing documents for his clients.

Doug Brown, Mortgage Broker (license 1846), has an OPEN investigation with the Texas Savings and Loan Department.

They will request its prospective clients to SIGN BLANK DOCUMENTS, provide underestimated GOOD FAITH docs, and OVERQUALIFY its clients. Their history shows: once the home is closed, they sell the loan.

Have you seen the NUMBER OF FORECLOSURES linked with New Rate and First Texas Residential?

Their affiliate company: Tremont / Stature Construction Recently got kicked out of Houston's BBB! In my opinion, they should be next.

In my opinion, BUYER BEWARE of Doug Brown and Bernie Kane and the many many many DBA's they hide under to dodge the current and ongoing investigations against them.

I would ONLY use a reputable, honest, and respectable mortgage broker. They do not fall under this category, no matter what sleazy lines they will tell you. Buyer... Beware... Start running!