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"The Money Store Mortgage" reviews and/or complaints

Does any body have anything good or bad to say about "the Money Store"? We are thinking of going with them for our REfi. Any feedback appreciated. by JoanNe_841_468 from Aliso Viejo, California. Dec 28th 2011 Reply


William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,722 contributions

BEWARE!!! Your better off dealing with a local mortgage broker, not a bank, and certainly not an internet or out of state lender. Contact a local mortgage broker.. they are licensed and have training, but best of all, you can actually walk into their office and deal with a live body if you choose to. WilliamAcres.com

Dec 28th 2011
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We are a direct lender in Lake Forest.. I would love to meet with you and walk you through the steps of a refinance. Please contact me at 949-200-5820 or at www.Directyourownloan.comNicholas

Dec 28th 2011
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Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 1,823 contributions

I have personally never used them, but know of several clients who swear they never would again. They are one of the big churning mills and I would encourage you to avoid using them. Take a look at some of the complaints from their customer base at: http://www.epinions.com/The_Money_StoreMy best advice is to contact a local Mortgage Banker/Broker, rather than one of the big banks or On-line lenders like the one you inquired about. Unlike their employees, who are most likely just order takers, a Mortgage Broker/Banker is Trained, Tested and Licensed in all aspects of Mortgage Origination. He/She will have access to loan products of many lenders, not just those of one bank, and can properly guide you. But more importantly, He/She is trained to take a look at the various different options available to you and guide you into the one that makes the best sense for your situation. Don't forget to check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org

Dec 28th 2011
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DAVID STECKEL (dsteckel)
#50 ranked lender in Pennsylvania - 2 contributions

You are actually better off dealing with a bank with in house underwriters. There are many regulations that the government has put into place that brokers have to follow. This makes for a very long and tedious process sometimes taking up to 90 days to close. The rate might be .125-.25% lower but what good is it if they can't close the loan.

Dec 28th 2011
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Crestico Funding (CresticoFunding)
#3 ranked lender in California - 337 contributions

They are just like any other national lender. They only offer you the program and rates that they want you to think its available. If you like to work with a local broker we can help you by shopping different lenders to find you the best available rate and programs. Please call (949) 335-9090 x4748 or click on our profile to see our credentials and visit us online. Thank you.

Dec 28th 2011
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Blake Kleckner (BlakeK)
#390 ranked lender in California - 258 contributions

Hi Joan:My advice is to stay away. Companies like The Money Store lead people to believe they are going to get great interest rates and low loan costs, and when all is said and done the final package is, invariably, different. At that point, the vast majority of people just accept their loans so they don't have to go through the process all over again. Give me a call 16/7, or email me, and I'll be happy to walk you through the process. To learn more about me and our mortgage brokerage, click on my picture. When the next page pops up, click on "Website" and you will be redirected to ours. We work exclusively in CA and get loans done fast, typically in less than 30 days, at low interest rates and costs. Representing 39 quality lenders that offer more than 1,000 loan programs, we definitely have something for everybody.

Dec 28th 2011
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,722 contributions

The MYTH about broker loans taking longer to close is just that... A MYTH.. Lenders with in house underwriting is often pitched as faster processing and underwriting turn times, however it's just not true. I have worked for both types lenders and there is ZERO difference from in house processing/underwriting vs. broker processing/underwriting. It is true that if you go to a big bank like BofA or Wells Fargo, who by the way process and underwrite in house, it will take 90+ days to close that loan, so I would not recommend them at all. WilliamAcres.com

Dec 28th 2011
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Alexander K (alex@ogimb.com)
#399 ranked lender in California - 56 contributions

I am located in Irvine, CA. Please come visit us so we can do business face to face. Alex. 213-281-1789. I will offer you an offer you can't refuse.

Dec 28th 2011
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Alexander K (alex@ogimb.com)
#399 ranked lender in California - 56 contributions

google "the money store" complaints. Don't go with them!

Dec 28th 2011
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,930 contributions

The averages persons mortgage is the largest financial transaction they will ever have. It is too important to not do some homework, and not know who you are dealing with. First understand there is NOTHING some guy on the internet can offer that is better than the guy down the street. Your best advice is to get off the internet, contact a LOCAL Licensed Mortgage Company (not a bank), and verify they have a licensed (not just registered) through the NMLS (nmlsconsumeraccess.org), Then Google the company name plus the words fraud, or scam, and finally, Google the Loan Officers Name. As a 20-yr license mortgage professional, I am constantly shocked by the bad lender choices so many people make because they believe some ad that popped up on their computer screen!

Dec 29th 2011
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Do not use Money Store if you need service on your loan.A month after receiving my loan, the money store used an incorrect insurance figure to recalculate my escrow. All ins/tax figures and payment timing disclosed at the time of closing were correct.So, my payment went up more than $100 over what I had budgeted for at the time of closing. I had a lot of contact over the next four months including a service rep that said that confirmed receipt of my actual insurance premium. However, the payment has never been adjusted as promised.So, Money Store was great at closing and gave me a great rate. However, if you want service on your loan, do not use Money Store.

Oct 7th 2013
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