Be aware! These MORTGAGE BROKERS (Preston Blair & Ross Braodbent) have been guilty of recruiting salespeople over the internet offering them the opportunity to work from home as a loan originators. The start up fee is $100 and they claim to pay you 55% of the origination fee once the loan closes.
Once they have you on board and submitting leads, 30-45 days later they inform you that your files have all of a sudden canceled and they were not approved. They also tell your client the same thing in a sympathetic type way, however in an effort to help the client out they offer information to someone else who might be able to help them!
That someone else is the same organization! They funnel the customers back through another one of their dummy companies and cut you out of the deal. The client hasn't a clue and doesn't really care as long as they're satisfied with their loan. This is done on all customers who have excellent credit.
Senior Citizens and homeowners with low credit scores are being deliberately lied to... And scammed! They are being told they have been approved and it only takes 30 days to close the loan. They are then told they must pay $400 (deposit to lock the loan) These customers are so excited that someone can help that they eagerly pay the non-refundable deposit. Some of them have missed their mortgage payments, used their social security checks etc.
The company simply strings them along for a while then informs them they have been denied. They keep the $400!! These guys are dishonest & unethical. They have recieved several complaints with the BBB (Utah) as well as other legal actions concerning their business practices. If you're contacted by their organization INSTALOANS, INSTALOANAPPROVAL, NATIONAL MORTGAGE RESOURCES, ComUnity Lending or BNC MORTGAGE. Be aware they are crooks!!!
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