Queen Creek, Arizona (PressExposure) September 03, 2008 -- In the wake of the mortgage crisis and the sub-prime fallout enters a new concept which has been seemingly lacking in a lending industry fraught with fraud, deception and fallout: a network of loan officers that missions on honesty, integrity, a strict code of ethics and a zero-tolerance policy towards members of this network. LendEthics.com became live in 2008, bolstered on an often overlooked yet necessary ideology: ethical mortgage loan officers that practice honesty and integrity and never mislead their clients.
Perhaps one of the biggest contributing factors to the sub-prime fallout was that there were an abundance of greedy loan officers who were more concerned with driving a fat commission off closing a loan then they were about the financial wellbeing of their clientele. This combined with banks overlooking many aspects of the underwriting process just to push loans through faster, and the classic bait and switch tactics that were employedâwhich led many borrowers to sign on loans that had many unfavorable conditionsâand you have the ensuing mortgage tragedy that has bankrupted many lenders and caused a nice hole in the economy to appear as investors who funded much of their capitol into these loans have also had to write off billions in losses.
âThe mortgage industry has experienced a horrific event,â says CEO and Founder of Lend Ethics, Lee Collins, âAnd LendEthics was created to help prevent this from ever happening again.â
The mission of Lend Ethics is to provide a network of truly honest loan officers to qualified buyers to find the best lender and the best rate that they can get, without having to worry about whether or not they are being scammed.
âJust because someone says âI do mortgages,â says Collins, âDoes not make them a mortgage professional. It is time that consumers understand the lack of accountability in the industry, and know there is a source they can find loan officers they can trust.â
When asked what prompted him to start this network Collins replies, âWe wanted to bring awareness to the consumer; we are here to break the mirrors and clear the smoke. Our approved loan professionals can answer all of your questions and navigate you through these uncertain times in the mortgage industry.â Collins goes on to say, âA mortgage is the largest debt most Americans will ever have, why did we think it could be trusted in anyoneâs hands?â
Considering the current state of the mortgage industry it is rather shocking that there are little to none other websites or other companies that are offering the consumer what Lend Ethics offers to them. Of this Collins says, âWe are the only website where consumers can get free mortgage quotes from LendEthics network of âapprovedâ loan professionals. Unlike most approvals and certifications in the mortgage industry, ours are not so easy to get. First our loan professionals agree to our Zero-Tolerance Policy,â says Collins, âAnd then we perform a thorough Criminal Background Check. And lastly, we have a rating and review system for each and every loan professional.â
What makes Lend Ethics different than any of the other websites and companies out there? âMost websites that offer you mortgage quotes take your information and sell it to anyone willing to buy them,â says Collins, âHow do you know how they treat their clients? How do you know if they have a criminal record? At Lend Ethics, Your information is only shared with our âapprovedâ loan professionals, PERIOD!â