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Mortgage Grapevine

WARNING! Rip-Off Lead Generation Co. Lending Alliance USA AKA The Center for Sound Consumer Advise

This is a warning to ALL people who may be thinking of conducting ANY business with this company. As a loan officer I agreed to purchase 10 Reverse Mortgage leads from Peter Welch a representative and board member of this company. On 11-11-06 I pre-paid for this service $45 per lead for a total of $450 dollars, and it was agreed I was to receive approx. 2 leads per week.

To date now almost 3 months later I have received only 2 leads TOTAL neither of which was valid or qualified. I have since been in contact with Peter Welch and asked for a refund as they can clearly not supply what they promised and Peter told me the company has a NO REFUNDS policy. Not surprisingly Peter no longer answers his phone nor returns my voice mail or email messages.

Other L/O's beware this service is a RIP-OFF. Consumers thinking of obtaining "free Guide" for loan/mortgage information from this company DON'T BE FOOLED this service is NOT what it appears to be!

http://www.ripoffreport.com/results.asp?q1=ALL&q5=lending+alliance+usa&submit2=Search%21&q4=&q6=&q3=&q2=&q7=&searchtype=0

by gmollo February 8, 2007 12:00 AM


There have been plenty of warnings on the Grapevine NOT to use lead generation companies. If they really had loans for sale, why would they let them go for $45 ea instead of closing them themselves. THINK!
by MortgageAssociates February 8, 2007 12:00 AM


They claim they are not a mortgage company and don´t do loans. They simply generate leads. Go to their website it´s a pretty clever scam! www.lendingallianceusa.com
by gmollo February 8, 2007 12:00 AM


They claim they are not a mortgage company and don´t do loans. They simply generate leads. Go to their website it´s a pretty clever scam! www.lendingallianceusa.com
by gmollo February 8, 2007 12:00 AM


They claim they are not a mortgage company and don´t do loans. They simply generate leads. Go to their website it´s a pretty clever scam! www.lendingallianceusa.com
by gmollo February 8, 2007 12:00 AM


I think we have to understand the premise of buying "leads".
As a consultant in a lead generation company,I am concerned with the psuedo-discrimination going on.
Grant it the aforementioned company that was enforcing a no refund policy is clearly reflecting a criminal mindset, the industry of lead generation still exists because there are good reputable companies out there.
A good loan officers prime objective is to communicate effectively with the consumer.
Leads are just that, leads, not loans.
Here is an example,when kids go out and buy baseball cards, they are usually sold in a package of say 15-20.
The instinctual response would be go through the cards, just to get the ones of value.
The same applies with leads.You could spend $5-$100 per lead, but you would still have go through some denomination,to reveal the value.
There is a truth that every lead can be closed, whether it takes a week or two years. If the consumer has bad credit, refer them to a credit repair service. Not enough equity, keep them in the loop on how to increase it.
Send out micro-newsletters on the importance of the instilling discipline of making their payments on time.
These may seem like child-carish mudane things to do, but in the end, you get the commission for closing the deal.
We could on and on explaining this theory.
It is the presence of compassion that is needed when looking at the co-operation it takes to make money in this business.
Consumers are like kids,they get handed a loan and the maturity is questioned.
Cherry picking leads does not reduce your chance of getting a consumer who does not qualify.If anything, you will be waiting for months just to get 10-20 leads, that fit your "criteria".
People are known for filling out forms with wrong information.
Loan officers will always reveal themselves when expecting a self-ish preference when buying leads.
If you are open to the realities of a nitty gritty approach, willing to spend time listening and helping the consumer,they will trust you and give you a chance.
As Napoleon Hill says, going the extra mile does pay off.
Its the difference between a closer and a poser.

Both the lead company and the loan officer need to communicate with each other to understand the issues that arise. Let´s make some money.

Rick
Oconco Marketing
by Cortec February 8, 2007 12:00 AM


Rick whats your email address, want more info
by pmi330 February 8, 2007 12:00 AM


Rick Cordero
rick@oconcomarketing.com
413 236-6920
by Cortec February 9, 2007 12:00 AM


See thread 350538
by CalifGuy February 9, 2007 12:00 AM


It is a time honored tradition to deplore the statements made by those who have issues.

by Cortec February 9, 2007 12:00 AM


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