Complain about a product or service

Lending Tree

Michael of El Cajon, CA February 7, 2010

I filled out an application online for a used auto loan. I have good credit. Lending tree responded two days later, telling me that no lender has picked up or reviewed my credit or my application! They went on to say that they do not know why. And i believe that by law, i need an explaination at least as to why they could not get at least one lender to even look at my application. Ridiculous!

I fear that now, they are going to continue trying to sell me on other product services that i do not want or need. And sell my personal information to a third party, potentialy risking my credit with identity theft.

Roger of Alma, MI January 29, 2010

We were looking at new homes and found one that we liked .We decided we should get preapproved for a loan before we went further.We applied for a loan for the amount of the asking price on the home we liked. We were approved for the asking price with a 30,000 dollar down payment. We then made an offer on the home,it was accepted for 10,000 dollars less than what we had been approved for.

We started the loan process, sent all the information they asked for along with a 600.00 dollar payment to lock in our interest rate. Everything was a go for the next 2 weeks, the house was appraised and everything was fine. Our real estate agent called and we were set to sign papers on the 29th of January. On January 20th they called us and said they had changed their mind that our debt to income ratio was to high even though we dont owe any money to any one. We had cosigned some student loans for our sons and we responsible for them. I have no problem with them turning us down we were able to easily get a loan with our home town bank but I think they were dishonest aboutt the way they did it and were only out to get what money they could from us.

Thor of Minneapolis, MN January 27, 2010

Much like many of the other complaints with Lending Tree, they grossly mislead me on the closing costs (3k vs. 7k), but that appears to be typical. What I would like to add is how they handled my appraisal. I set up an appraisal with one of their approved appraisers and he came in with a number (a little based on my comps, but that certainly isn't my complaint). After spending over 20 days in underwriting, they came back and stated they didn't agree with the appraisal and reduced it by 40K.

I was told that based on their model (something similar to Zillow is my understanding) my house was worth nothing close to what their own appraiser came up with. Of course this means that I now qualified for a greatly decreased loan (although every fee remained the same). How can someone is a completely different state who has never even seen my house disagree with their approved appraiser? Go with a local company and don't waste your money with these scammers.

Philip of Long Beach, CA January 26, 2010

I caught my ear to hear that Lending Tree is supporting NPR (National Public Radio). Lots of good, honest programs, so I wrongly drew the conclusion this company would also be honest and up front. Wrong ! At least they didn't offer (bait and switch) any loans. Why because I am retired and don't make enough, although I own some units and have all that rental income, a 820+ credit score and about 33% down payment. I can't get a response from them and can't get a loan. Do not do business with these guys no matter who they support !

Joel of Lake Oswego, OR January 6, 2010

Whether incompetence or outright shysters, Lendingtree kept moving at a snails pace and adding on extra cost. We started with numerous inaccurate Good Faith Estimates, broker claiming my emails went to her junk box, but that doesn't explain her voice mail box,

then they proceeded to obtaining the an appraisal from a non FHA approved appraiser, extra costs of subordination... more delays, then to be surprised by having to pay an additional 2600 for the points. Very disappointed in not reading reviews before jumping in, I lost from October 23, 2009 till January 6, 2010 and an additional 700.

stacy of salem, MT December 19, 2009

Applied for a loan of course we had to pay the 400 lock in rate fee. Apprasied my house with the people they sent out. House apprasied for 175,000 we were wanting to refiance for 125,000. We called everything was going great. We had the closing. We waited the 3 days to get our money. On the fouth day called our bank to see if they had paid off our loan. No such luck.

We called On Kim the banker she said I have some bad news after review house would not appraise for enough only 140,000. I did not know after you have a closing and sign everything they can change their mind. They did not even tell us until we called to check on things. The best part they changed our insurance over into their name to collect if something should happen to our home . They never did fix it we had to. Do not do bussiness with them SCAM.

Joseph of Fayetteville, GA November 30, 2009

Contacted Lending Tree about a home refinance. Explained my concern that the appraisal would not match my tax appraisal of 211,000. Lending Tree charged 600.00 to my Credit Card and the appraisal did not come in high enough for a loan at 170,000. Problem was, the person I spoke to at Lending Tree told me he had closed 32 loans in Georgia and not one of them had appraised lower than the county tax appraisal. Funny, I am the only one in the State he had closed where the appraisal did not match!!

DO NOT use this company. They will tell you all the right things on the phone and stick it to you once they have your credit card information. I am disputing the 600.00 charge, the appraisal only cost 350.00, I have the bill from the appraisor. I am willing to reluctantly pay the 350.00, but 600.00? For WHAT?

I believe these refinances are a scam on the American Public. These companies have stolen millions in fees and stimulus money from the Government, all for nothing!

Craig of San Diego, CA November 23, 2009

To say that I am unhappy with LendingTree is an understatement. I have never experienced a complete breakdown in a team's ability to do the most basic aspect their job. The first error occurred when our Lending Consultant Pedro misquoted us an appraisal for the property as 228,000 when it should have been for 250,000. Paperwork was generated, which was signed by ourselves and the sellers. Thankfully our Realtor Nicole caught this mistake, and new paperwork was generated to reflect the current value. We got an email from Debbi, our loan processor, asking for the documents to be resigned by ourselves and the seller which we did. After receiving the documents, Debbi asked that the FHA addendum be post dated, but she never clarified the specific date we needed to reference. This caused us to do an new amendment and a third signing between ourselves and the sellers.

We were given an Escrow close date of 11/18, and we had the final meeting with the sellers before they moved out of state thinking that everything was on track.

Preparations by ourselves have been made to move in on the 26th of November. We gave notice to our apartment complex that we would be out on the 1st. Our belongings have been packed up, we were prepping the house for paint, then we get an email from Debbi at 6:30 on a Friday night (while we are in the process of moving). It was a three sentence email stating that LendingTree would only give us a loan for 211k based upon the appraisal, and asked if arrangements can be made with the sellers to agree to losing 40k on their house. Her email was like many previous emails, no details as far as our options. I equate her emails to going to a doctors office and he tells you you have cancer then walks out the door. No details, no options, a lack of consideration that we do not know what this means. There has been no explanation of where this number came from. I pray that she did not give me a misquote of the appraisal because we were misquoted already from Pedro, but at least he admitted to the mistake.

I am livid at the mistakes made by Debbi and the LendingTree team. At this point we are forced to go through another lender and start over again because of my lack of faith Lending Tree can do the most basics of their job functions. This switch will cost us weeks of our time, thousands of dollars, an unmeasurable amount of stress between ourselves and the selling party. As I had mentioned before, we gave notice to our apartment complex that we would be out on the 1st, as a result our apartment complex has already leased our place out to new tenants; so it looks like my wife, 1 year old daughter, and I are going to move at the end of the month. The problem is, we're not sure where.

Donna of El Sobrante, CA November 1, 2009

We decided to refinance an investment property, had a locked rate with Lending Tree and received GFE from one Stephen C. We went through all the hoops of providing full documentation (which Mr. C lost the first time - pretty scary stuff) and paid the 600. Long story short - the closing was late and then when I did receive the paperwork just 2 days prior to closing everything was changed- the rate, the fees, charges, everything.

Contacted Stephen's supervisor, Alan O, twice and asked for his intervention but never heard from the guy. At the last minute they said that their "investor" had changed their criteria but they could probably still do the refinance however it was a 43% increase in fees!! That's right 43% Needless to say I bailed at that point, said this was usury and they promised to refund my 600. I had Stephen C put it in writing via an email. After reading these stories of others losing their 600 I am going to file a dispute today with my VISA card company, After all the hassle they put me through there is no way they will keep my money. I also sent a message to their customer relations department but it's probably in the "round file" already.

susan of valparaiso, IN October 29, 2009

I locked a rate on Sept 30,2009. On Fri.Oct 23, 2009 i was called to schedule signing on the close for funding payout prior to Oct. 30 expiration. We arranged Mon. Oct. 26th. Abrubtly they called & said they needed to have the appraisal adjusted. We scheduled again (once this came thru)for Oct. 29, 2009 to sign. Suddenly the morning of Oct 29 I receive email of new documents with an INCREASED fixed rate and another substantial increase in fees. (all this without my knowledge/awareness or approval) it went from 4.5 fixed w/appr. 7000.00 in fees to 4.625 w/ approx 10000.00 in fees! is this typical and legal? Please HELP...

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