Consumer reviews and reports on scam companies, bad products and services / /LoanFax / /LoanFax I worked for the company and wish to blow the whistle on the truth of the opertion! L
7th of Dec, 2010 by User610053
I want to expose the reality of this organization and give you insight before you consider doing business with the firm. It's owned by a man who thinks only about his wallet and will do anything to get your business but is terrible at delivering beyond the words to get you in the first place. The real problems with and are they are "gimmiks".

The company is 100% telemarketing home owners explainign they are a consumer advocacy group helping home owners by puttting mortgage brokers througha rigerous screening process before allowing them in the network of approved lenders. In relaity their is no rigerous process by which they are screened, in fact any broker willing to write a check is approved. I would love it if the process was legit and they did what they said they did but they do not.

It's nothing special, just a clever way to gain trust from a home owner and then sell the information to a mortgage broker. The company does only sell it once to an individual broker which is a good thing, additionally you do get a recording of the call and if you are able to get all your leads in a manageable time(rarely ever happens) at the end of the day the syatem has major flaws and many hurdles to success.

Most of which stem from the fact that the home owners are approached by way of telemarketing rather than responding to an advertisement so you are selling the prospect on a phone meeting with a reputable lender but to be approved in the network all you need is a check book and be willing to write a check and buy a campaign.

Simply put their is nothing special about this company, just a re-processed waterted down version of an already existing product "mortgage leads" and they are far from the best and their is not enough staff memebers to fill the orders in an efficient amount of time. It's a sales organization and due your due diligence thoroughly, if you do any business with the company have your contract so air tight with every part clearly spelledout regarding price per lead, how many per day and filters.

The only way to do business with him and you may come out ahead is get 2-3 samples free not just one that he says is enough. Then only buy ten or so at a time paying half down and the balance three quarters of the way through to protect yourself. If Russ has all the money chance are your contract will take forever and a day to complete and you will have determined you could have done a lot better with your money.

Bottom line nail him to the cross by having no detail left out. Protect yourself with penalties to his firm if delivery of said leads are delayed beyond the agreed time or you just might find yourself waiting till the cows come home.

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