I signed up as a loan officer with this company and ordered 15 Reverse Mortgage leads to be delivered over a 3 month period. The leads were $50 each. I knew they had some BBB complaints about their lead program but it appeared they had been resolved so I decided to take a chance. I got 5 leads the first month. Out of these 5 leads 4 were more than 100 miles from my location. On 2 of the 5 leads it was obvious that the borrowers did not have enough equity to qualify. They have a policy of sending leads even when they already have enough information to know they won't qualify.in my opinion that is not a valid lead.
When I contacted the borrower on another lead he denied ever having sent in a post card. The sales manager called him with me on the line and he did not recall sending in a postcard and in response to the idea of a reverse mortgage he said he had "millions" (why would he be interested in something like that). I suspect that someone probably just pulled this guys name and number from somewhere and it was not a valid lead. J
I received my first December lead. Again it was more than 100 miles from my location and again it was clear that the borrower did not have enough equity to qualify.
I contacted the sales manager and asked that my contract for the remaining leads be canceled and I be given a refund for the remaining December leads that I had not recieved. They refused. I have canceled the credit card to keep them from charging more.
Stay away from this company. Their lead program is a total ripoff.
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