ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel
  • »
  • Personal Finance»
  • Mortgages & Loans

Where Consumer Reviews Can Hurt A Company

Updated on April 9, 2013

Consumer Reviews And The Lending Industry

The company I am discussing here is a mid to large sized nationwide direct lender. They are located here in Southern California and the company is called Intelliloan. It has been in business for 23 years and of the various lenders I have worked with over the years, I believe it is a pretty good company.

To become a top producing loan officer, aside from hard work and great effort put into the education of one's borrowers, a companies good pricing, very low fees (if any depending on the loan) and good business practices are somewhat key to its success.

Without getting too much into details on it, I will say that from what I have seen, this company does not seem to put any money into reputation management or social media. They do at times ask various clients to leave good reviews from time to time at one of the major review sites. If you looked at their Trust Link profile, you can see, there are hundreds of good reviews. But for the most part, great pricing and just taking the best care of the borrowers seems to work well.

In general, I find that most lenders who have been around awhile (especially if you don't work much at keeping on top of your social media and reviews) have bad reviews. When I looked up a few of intellililoan's competitors, I found the same thing.

Unfortunately, unlike restaurants or hotels, banks and financial institutions typically draw reviews when something goes wrong (unless solicited or manipulated in someway as I have seen some brokers and lenders do). What I mean is, of the past 30 loans I have done which have gone smoothly, my borrowers have sent my nice emails and thanked me and in some cases commented they would miss our conversations. But unless I asked them for a review, I am not sure they would even think about it. The one client who turned out to have back child support issues which he hadn't made me aware of before, threatened to report our company on one of the business review sites if we didn't somehow make the loan happen without him taking care of those issues.

Granted, the company (Intelliloan) speaks with thousands of borrowers or potential borrowers each day of the week and there are a lot of staff, so there is plenty of room for things to go wrong. Could there be a loan officer who makes a mistake? I believe so. Could I sometimes make mistakes or miss something? I try my best not to and I think I do great most of the time, but there are definitely times when I have been swamped and missed something. I then owe my borrower my best efforts to quickly resolve the matter and straighten things out.

At the end of the day though, when searching for a lender who can help you with your loan (whether it is a refinance or for a new home purchase), important things to consider will always be:

0) I won't get into this too much because I think it goes without saying that the lenders out there will be licensed and have NMLS (Nationwide Mortgage Licensing System) numbers.

1) The loan officer should be knowledgeable, patient and be able to answer all of your questions.

2) You should find out up front what the fees involved (from the lender, broker as well as any costs from various third parties) in the loan are as well as the rate you are getting.

In my opinion, many lenders out there have very similar rates and fees and a lot of it comes down to the level of comfort the borrower has in dealing with you. That you will treat them fairly, be available to take their calls, educate them on the process, competently deal with any issues that arise and generally set proper expectations and at the end of the day, give them the best loan for their situation.

I am not being paid to write this article. I am only doing it on my own time personally on a public forum. Some of what I have written above is based on my opinions and is not necessarily based on the opinions of Intelliloan or its parent company, Metropolitan Home Mortgage. This is general information and nothing I wrote here is an offer to give a loan and you should always speak to your licensed loan officer to get exact information for your specific loan needs.

Metropolitan Home Mortgage, Inc. doing business as Intelliloan, NMLS #3290.

Comments

    0 of 8192 characters used
    Post Comment

    • festersporling1 profile image
      Author

      Daniel Christian 5 years ago from Los Angeles, CA

      Ya, it's going well. I like it a lot. Great place to work and I think it's a great place for people to get a home loan. I like that Intelliloan has the best rates without charging any lender fees. I'll keep you guys posted!

    • profile image

      Sue Page 5 years ago

      Hey Daniel, How are you doing over at Intelliloan? Michelle said you were one of their top producers now. Congrats!

    • profile image

      Intelliloan 5 years ago

      Hey Daniel. This is a good write-up. The Los Angeles times actually did a really good article about this (two articles this past week actually - with many companies chiming in about this. http://articles.latimes.com/2013/apr/20/local/la-m...

    • festersporling1 profile image
      Author

      Daniel Christian 5 years ago from Los Angeles, CA

      I'll check that out Mike. Intelliloan uses a site called TrustLink which at least doesn't filter. I like that a bit better. I will be honest, you can look at almost any mortgage company and you will see all kinds of bad reviews showing up and the good ones being filtered.

    • profile image

      Michael Katz 5 years ago

      Most people rely on trusted friends and people they know. Check out www.networkoftrust.net

    working

    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: "https://hubpages.com/privacy-policy#gdpr"

    Show Details
    Necessary
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
    Features
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Marketing
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Statistics
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)