LendingTree Reviews

Att: State Attorney General of North Carolina

Att: State Attorney General of Tennessee

Subject: Loan Process through Lending Tree dot Com and Advent Mortgage

Introduction

I can only hope that some fine person will at least read this document and help the working class of this world. I am so frustrated with the refinancing of my home mortgage loan that I am at a loss of what to do or who even to contact. Each day I read about corporate America and wonder when the little guy will ever get his day in court or at least SOME SOCIAL JUSTICE. I have already filed a complaint against the two main companies in question through the Better Business Bureau [BBB] but I am unsure as to what will happen if anything

.

I recently went on-line into Lending Tree dot Com the final week of June 2003. Interest rates were near RECORD LEVEL lows for the lending / borrowing industry. I went into Lending Tree dot Com because of its advertisement and general sale of helping out the customer. When you read the facts you will see that customer satisfaction is anything but true in this case.

The Facts

Upon receipt of my re-finance loan application from Lending Tree the company sought out several Mortgage Brokers to compete for my business. I receive 3 competitive bids of which I narrowed down to Advent Mortgage in Charlotte, North Carolina. The initial bid to entice me was 5.125% over 20 years. When I called I was informed that I needed to lock-in my loan so that the bid quoted would be lock soon enough before interest rates fell or rose. I immediately requested a lock [in writing] and was quoted 5.375 % and that this was good for 30 days.

My wife and I were happy that we finally got some sort of break and we waited for our new loan closure. Advent wanted us to go through a home inspection in which we paid out of pocket expenses of $300.00 and we passed with flying colors. About 20 days later we still had not heard much from our Mortgage agent a Mr. Josh Tucker. So we kept calling and finally were told that Josh was on emergency vacation and that a Mr. Steve Spires was taking over our loan. The 1st phone call was a mess. He had no knowledge of our loan or its details. He did not even know if the loan was for 20 or 30 years. He even informed us 30 minutes later that he found the paperwork and that our loan was approved for 6.5%???

We tried to call our original loan officer and we were informed that Josh no longer worked for Advent Mortgage. I immediately ask for a Supervisor at Advent and was told to talk to a Mr. Hunter Hayes and he reconfirmed that Josh was no longer at Advent and that our loan was in fact 6.5%. I elevated my complaint to the president of Advent a Mr. Pat Curry who also gave me the same basic information. I reminded Mr. Pat Curry that I had an email from Josh with the Advent Logo on the letterhead that confirmed the 5.375% fixed 20 year loan. This loan also included an 11k cash out to be used for additional home improvements that the wife and I were going to implement.

During all this back and forth conversation between Josh, Hunter, and Pat from Advent Mortgage my wife and I received a good faith estimate in the mail from Americas Wholesale Lenders [Division of Country-Wide Mortgage] for 5.875%. This was the loan that Advent was suing to make their money and profits. I confronted Pat [VP of Advent] that I had two written documents one for 5.375% and one for 5.875% and that he needed to get on the ball ASAP.

Pat tried to calm me down and in fact called me at least 3 or 4 times trying to find out what is going on and
that he could fix-it to my satisfaction. The best he could do was offer 5.8% for 20 years and than he interjected another twist that was not part of the original loan which was a separate loan for the 11k cash out option for 6%.

I informed Pat that he had by COB on 8/7/03 to put this ALL in writing to see if my Wife and I would consider this loan or go local. By now Advent HAD NO CREDIBILITY. I did not receive any fax, e-mail, or overnight letter confirming his best and final offer so this is why I am writing you this letter. I was told by Pat that he was to busy and that he had to go to another meeting and that he could not work on my loan.

During this entire wonderful experience I contacted Lending Tree dot Com and complained to no avail. I informed Lending Tree that it was their advertising and commitment to total customer satisfaction as reasons why I went there in the first place. Lending Tree would listen and say well after you select a Loan Broker that their job is done. This is like going to Wal-Mart with a bad watermelon and the store clerk blaming it on the farmer. Wal-Mart always tries to satisfy the customer now could I get the same from Lending Tree?

Summary

I am now going local for re-financing where I can see the person actually across the table so that I can conduct the business that should have been a simple business transaction. As you can probably guess the interest rates have gone up dramatically in the last 30 days and I am now trying to lock in a loan at 6.0% and from my calculations have probably lost hundreds of thousands of dollars over the life of the loan for all this mess.

I will not even mention all the pain and agony my Wife and I have endured to get such a simple loan. My son who is 14 years old could try this case [he has dreams of being a lawyer] with the evidence presented and could win it. All documentation denoted in this letter is on file for anyone who would like to contact this simple worker in America who is pursuing his dream to own a home.

I am also sending this to the local papers in your respective states in the hope that some young writer wants to make a name for them-selves. I can only hope and pray for some compassion and potential REAL ACTION in this world.

Sincerely,

S/

Leon P. *********

**************************

Maryville, Tn 37803

Ph: *******************

Ph: *******************

Ph: ******************]

Points of Contact

Lending Tree

11115 Rushmore Drive

Charlotte North Carolina 28277

Att: Robert T in Customer Service

Ph: 704-541-5351

Advent Mortgage

303 N Hurstbourne Lane

Suite 250

Louisville Ky 40222

Att: Pat Curry, Hunter Hayes, Josh Tucker [no longer their]

Ph: 502-896-3388

American Wholesale Lender [Country-Wide]

Att: Lana Middler

4500 Park Granada

Calabasus CA 91302

Ph: 818-225-3000