LendingTree Closes! (credit card, rate, refinance, law)

[renriq02]

SR financial analyst doesnt work in the loans department.

Originally Posted by pghquest

Not only are they not closing.. they are hiring.. Open jobs exist, with the latest being added just 12/06/07. If they announced the office closing 12/05/07, they wouldnt be looking to hire.

Dec 6, 2007 Senior Financial Analyst US - NC - CharlotteFull-time

More then likely.. the main "investors" are closing their office in Charlotte because they are spinning the company into its own IPO.. but Lendingtree is not closing their Charlotte office.

[pghquest]

Originally Posted by banker0679

"originated first mortgages were 1.13 percentage points less than loans originated by lenders"

if it's a 150k loan amount that's $1695.00. How can you say that's small????

I believe brokers will give better service than lenders or banks......

I have never had good service from brokers.. Not once..

example, I got into an argumen with a broker because I wanted to borrow more then the purchase price on a property. The broker started going off (no joke) about the fact that I was trying to commit fraud, break the law, he would not be part of it.. and then hung up without giving me one word in.
My bank.. I closed within 3 days.

example, just a month ago: I have submitted an application to a broker. never heard back from them. I called my bank on Thursday.. I received approval friday.

As for your total saved $1695, I agree with you on that issue, especially since that $1695 is compounded over 30 years.. making it about $3-$4K saved.

[pghquest]

Originally Posted by banker0679

SR financial analyst doesnt work in the loans department.

They also dont work in closed offices either..

[renriq02]

LendingTree has employees who work out of their homes....just like BofA.

There's always going to be 1 unhappy customer....maybe the broker was on vacation?

I worked with BofA for 2.5yrs...most of my customers were mad because how long it took to underwrite their files.

They would end up leaving me, and finding a broker who can close their loan in 1-2weeks.

Receiving cashback from closing is 'illegal'.....receiving a loan that is over the purchase price isnt.
If you're referring to the 203k program, that isnt cashback.

I also dont know of ANY local banks or major banks that offer over 100% LTV either.

Either way ...this is one of the many reasons why homes are going into foreclosures.
There are banks that are lending more than the purchase price...and you end up upside down in the home.

Originally Posted by pghquest

They also dont work in closed offices either..

[pghquest]

Originally Posted by banker0679

Implode-Explode Forums :: View topic - LendingTree Loans/Home Loan Center Going down

He spoke to Randall (one of the administrators) at the Implode site....

I doubt you spoke to the Charlotte Office.

Some administrators are still there....

I just found out that they also laid off about 200 ppl in Irvine.

Funny how every single one of the people on that website, speaking about this subject.. just joined the forum..

[SIZE=1]Joined: 08 Dec 2007[/SIZE]
[SIZE=1]Joined: 07 Dec 2007[/SIZE]
[SIZE=1]Joined: 08 Nov 2007[/SIZE]

And before you mis-quote me again on another forum.. NEVER did I say that layoffs dont happen, but your trying to tell me that a HEADQUARTERS of a company, based in Charlotte, has laid off hundreds of people, and that everyone that now works for Lendingtree is being told to lie about where they are answering phones from.. and then want me to believe that the jobs posted, arent really jobs, and the whole time.. that hundreds of people are being laid off, that Lendingtree has been so successful at keeping it quiet as to not make the Charlotte newspapers..

Hogwash..

[pghquest]

Additional comments:

1) Laying off a few hundred employees.. and closing the office is a HUGE difference.
2) Investors selling off the company by IPO's.. and the company going out of business.. Is a HUGE difference.

While Lendingtree appears to have financial troubles, (reason for the IPO).. no where does one news story state they are going out of business or even closing an office.

[renriq02]

listen....I said MY FRIENDS AT LTL told me they were laid off.

I dont work for LTL...

They told me the branch has closed.

I'm wondering what number you called also...the number I'm calling sends it straight to voicemail which has never happend!

Any lender will play down the layoffs so they wont lose the business.
Countrywide had this same problem.....not many ppl know that thousands were laid off this year because CW played it down. Countrywide insisted that they were intact, and everything was going well.

These guys were laid off on Friday afternoon.....anyone in the industry knows that lenders are known to lay off ppl right before XMAS.


Please keep your comments to yourself. If it hasnt come on the news yet doesnt make it a lie.

[renriq02]

AHM was hiring to the last week before they closed....

My friend worked left her job to work there for only 1 week....my point is that you obviously dont work in the industry..and dont know much of it.

Originally Posted by pghquest

Funny how every single one of the people on that website, speaking about this subject.. just joined the forum..

[SIZE=1]Joined: 08 Dec 2007[/SIZE]
[SIZE=1]Joined: 07 Dec 2007[/SIZE]
[SIZE=1]Joined: 08 Nov 2007[/SIZE]

And before you mis-quote me again on another forum.. NEVER did I say that layoffs dont happen, but your trying to tell me that a HEADQUARTERS of a company, based in Charlotte, has laid off hundreds of people, and that everyone that now works for Lendingtree is being told to lie about where they are answering phones from.. and then want me to believe that the jobs posted, arent really jobs, and the whole time.. that hundreds of people are being laid off, that Lendingtree has been so successful at keeping it quiet as to not make the Charlotte newspapers..

Hogwash..

[pghquest]

Originally Posted by Former LTL

Now that we have that established we can proceed to December 7th 2007. At roughly 1:30 pm the Charlotte based LendingTree Loans basically closed its doors. EVERYONE at LendingTree Loans based in Charlotte, NC with the exception of roughly 15 loan officers, a couple of processors and a loan assistant were let go. ALL managers, the IT department, HR, the processors, loan assistants and all but those 15 LO's are gone.

You are stating that everyone with the exception of 15 loan offices, a few loan processors etc, and all employees but 15 are gone.. please tell me why Lendingtree has a dozen job openings in Charlotte alone?

IAC is being downsized, lendingtree might be downsized.. but if they were to start closing.. IAC is legally obligated to disclose this information publicly to their stockholders, prior to taking action, and this would include closing of regional offces of its subsidaries (i.e. lendingtree). As of now, IAC has stated nothing of closing branches.. they have stated that lendingtree is being spun off.

[renriq02]

I didnt state that. 'FORMER LTL' did.

I did state however that I havent worked since Mar/April.

Please view AHM latest job openings..and tell me why they closed the same week also?

I also stated that my friends from LTL have mentioned this to me.....

Like I said...why dont you go there Monday Morning, and see how many workers show up to work???


Get a grip!

Originally Posted by pghquest

You are stating that everyone with the exception of 15 loan offices, a few loan processors etc, and all employees but 15 are gone.. please tell me why Lendingtree has a dozen job openings in Charlotte alone?

IAC is being downsized, lendingtree might be downsized.. but if they were to start closing.. IAC is legally obligated to disclose this information publicly to their stockholders, and this would include closing of regional offces of its subsidaries (i.e. lendingtree)