Who do you think this advertisement is targeting?

Question

At the top of my Yahoo homepage, I saw this in small print:

$200,000 for only $855/month. No SSN required. LendingTree® Quickmatch.

A home loan with no SSN required. Who do you suppose that advertising is for? I am personally going to let my entire database know that Lending Tree is targeting home loans for illegal aliens. We had a local lender in my city who was doing that. I let all of the Realtors know, and they are no longer in business. We need to stand up against those who not only turn a blind eye to, but actually target helping illegal aliens.

Javi...that is either naive, or you are just full of it.

TLB...who cares? They are targeting ILLEGAL IMMIGRANTS, and as stated by Where's the fence...they have no incentive not to default.

RJ...one of my businesses is real estate. The lender that I got shut down in my city was the same way. They would even require SSN for Americans and legal immigrants, but not for illegals. The fact is that Americans can get financing with bad credit (my brother did and DANG! I wouldn't lend him a buck) I have seen many with credit which would not get them a department store credit card with a low limit buy houses. (I refuse to work with them and not one of my clients have ever been at risk of foreclosure). This is with a SSN. This is absolutely targeting illegals...GUARANTEED.

Mark...thanks for the tip. I do not support them anyway, but my being here supports Yahoo, so I will have to keep that in mind and give that some thought.

Jack...I thank you for that. I also wrote them a letter and asked if they could provide a home loan for an "undocumented immigrant". They stated that they can and do provide loans for undocumented immigrants.

Answer 1

It's targeting illegals and it's morally reprehensible. It's another company I will add to my list of those I won't do business with. I hope the defaults on these loans put them out of business.

Answer 2

I agreed with you, so I wrote a letter to lending tree and this is the response I got.

I think it is a bunch of crap personally:


Dear Jack,

Thank you for contacting LendingTree. I understand that you are
contacting us as you have concerns pertaining to our QuickMatch form nor
requirieng a social security.

LendingTree QuickMatch does not require a social security number to
match you with lenders on our network—initially these lenders do not
require credit bureau information. After reviewing your lender matches,
you can choose which lenders, if any, you would like to work with to
submit a loan application. In order to provide you with a customized loan
offer, to comply with various federal and state Anti-terrorist
regulations, and to protect you and others from identity theft, lenders will
require your social security number to submit an application. I trust I
have assisted you to your satisfaction.

If you are in need of further assistance, please feel free to contact
us at 1-888-272-1355. Our Customer Care Consultants are more than happy
to assist you and are available 24 hours a day, 7 days a week. Please
keep us in mind for any future financial or real estate needs.

The following survey link will allow you to rate your experience with
our Customer Care Department: By clicking, you will be connected to a
short survey that will allow you to rate the service you received and
make any additional comments.
http://marketing.lendingtree.com/Blue/FilloutLight.aspx?sid=a890aaff-8374-4378-a96c-3df94cd9f559&rtid=Data2_274838006

Thanks again for using LendingTree. When Banks Compete, You Win!

Sincerely,

Suzanne B.
Customer Care
LendingTree®, LLC

Answer 3

Open, I have returned to an active Real Estate INVESTOR business, after my 2nd. retirement. There are 'trolls' here at yahate, and there are 'trolls' in the mortgage market. You being a Realtor, surely know that in today's business world, and especially the real estate lending arena, some of 'the big boys' are grabbing at every chance to make a buck.
I have my own specialized / rather unique method, of presenting my buyers to the banks, but all of the buyers MUST have ALL OF THE REQUIRED DOCUMENTATION!!!
I remember, over a year ago, when B.O.A., In California, publicly announced that #SS numbers were no longer needed to acquire their (BOA) charge cards. I am very sure you remember this incident. Guess what? After about 3 to 4 weeks, everyone had 'forgotten about BOA' and a majority of BOA's competitors were doing the same thing.
Americans have a very short memory span, and this is a key factor in many of today's business's methodology.

Answer 4

It is a crappy loan at best...

EDIT~~~~~I only deleted all that because I hate it when an answer takes up an entire page.....
Now on to your contention....
They are only saying that a person can apply for the loan without a SS#
It is now almost impossible to acquire a new home loan without a SS#. Unless they want to break several laws that the authorities are enforcing BIG time right now.
Sorry, but that is the truth.

No one can go "stated" these days
its all full doc now(wages, tax returns, SS#, everything)

EDIT#2~~~~~~~~~~~~~~~~~~~~~~~~
1. Lending Tree does not lend money they are brokers match makers if that is easier to understand.
2. Lending Tree has absolutely nothing to do with your loan approval....they just put you in contact with the lender who best meets your needs.
3. There MUST be a SS# for a loan to be approved. Yes, a fraudulent SS# could be used....no doubt, but lending tree would be out of the picture by then, and it would be on the lender.
4. No I don't work for lending tree
5. I just hate knee jerk reactions by the uninformed
6. If you think that I am wrong....please, post a link or some other proof.....and I will concede


I wish you a Merry Christmas!

Answer 5

Tell 'em about it poopsie. I'm on your side.
I saw on the news this morning where the
illegals are attacking the border guards by
throwing rocks and any thing else they can
get their hands on from the other side of the
fence. Also, Canada has opened their doors
to the illigals and every thing is free for a year.
Including housing, food, clothing, and medical.
This no SSN number is the reason for all these
foreclosures. Where is it all going to end?

Answer 6

It is a well know fact because I have made such a issue about it and gotten suspended for it, but Yahoo in one of the largest employers of H1B visa immigrants of any company in America. They constantly complain to congress that Americans are too stupid to work at their company and want congress to increase the number of immigrants they are allowed too import. This is why the immigration forum on answers has the most suspension and violations of any forum on Yahoo answers. They have a definite political agenda and you Americans aren't included in their vision of the future. That's why you should stop supporting the advertisers here on Yahoo. If you don't you will be destroyed eventually. Good Luck.

Answer 7

I didn't see this! Thanks! I think that Lending Tree is really looking for pack of trouble! Maybe even going belly-up! The rules for making a loan won't allow this! I'll bet if I was lending my money, I would want proof of who I was lending it to, even if I held the lien on the property! I would lose the interest on every loan that defaulted! My stock holders would be having a fit!!! I don't get it!!

Answer 8

You could right, but i have to agree with TLB. As messed up as the industry is now over loans it doesn't make sense. I always heard if you applied for credit to many times they deducted points.

So I would check with them as I figure they are dong it and if it looks good they will get the SS number. Heck if I see it I will call. Also heard if you get to many credit cards it goes against your credit rating.

But it would make you think that, but still how can they do that. Maybe have the house as collateral? TAke care.

Answer 9

you go RJ I saw that not too long ago, and wondered if that wasn't some kinda of ploy, if they can get a loan they can vote also. and most of those companies are looked at by the fed's. How sad our own govt is going against us, that's pretty bad!!!!!!

Answer 10

It is obviously targeting illegal alien criminals. When they default on their loans it won't even effect their credit since they have no social security number, unless it is a fake or stolen. I am adding another company to my _____ list! Bank of America and others are on my list.