United Lending Solutions, LLC

Find out more about this business:

BBB Accreditation BBB Rating Business Contact and Profile Business Management Additional Locations and Phone Numbers Licensing Customer Complaint History	Government Actions Advertising Review Out of Business Industry Tips BBB Copyright and Reporting Policy
Note: It appears that this business is no longer in business. Details

BBB Accreditation

BBB Rating

Based on BBB files, this business has a BBB Rating of NR .

• This business has no rating because it is out of business.

Click here for an explanation of BBB Ratings

Business Management

Additional company management personnel include:

Mr Greg Halsall

Additional Locations and Phone Numbers

Licensing

Many local municipalities, townships, and counties have registration, bonding and/or licensing requirements. The BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.

Permit and license requirements for regulated industries in the state of Colorado can be viewed at the following website: http://www.colorado.gov/oed/industry-license/

Customer Complaint History

BBB processed a total of 0 complaints about this company in the last 36 months, our standard reporting period.

Government Actions

BBB has no information regarding government actions at this time.

Advertising Review

BBB has no information regarding advertising review at this time.

Out of Business

According to information in BBB files, this company is no longer in business. If you have an unresolved dispute with this company you may wish to seek legal advice.

Industry Tips

Mortgage Tips

Starting January 1, 2009, mortgage brokers who originate residential mortgage loans in the state of Colorado will need to be licensed in the State of Colorado. To obtain a Colorado Mortgage Broker License, the individual must: pass a criminal background check, carry E&O insurance, be bonded, complete educational courses and pass a 2 part state & federal examination. Always ask the mortgage broker if they are licensed and then check them out at the Colorado Division of Real Estate.

More into at: http://www.dora.state.co.us/real-estate/mortgagebrokerregistration.htm

The BBB recommends the following when evaluating a Mortgage Company or the advertising from a mortgage company:

-Conduct research on current interest rates: Inquire on the advertised rates and understand if they are adjustable rate programs (ARMs) or Fixed rate programs. ARMs may cause your monthly payment to fluctuate within a given period of time.

-Understand the charges (Points & Fees): Most borrowers can expect to pay a 1% origination fee (1 point) and as well as other standard closing costs, which would include appraisal, title, lender and processing fees. Clarify and compare all fees before proceeding, and consult a third party if you are not comfortable with the broker's answers.

-Get the details (No Cost Loans): No cost loans are generally higher interest rate loans. The interest rate is increased and the lender pays the broker additional money that can be used to cover the closing costs of the loan. Make sure that you evaluate the "breakeven point" of the loan, meaning, how long will you be staying in the loan vs. the cost of the increased interest rate that covered the fees of the loan.

-Do you have the Right to Rescind?: With a refinance loan on a primary residence you have a three day rescission period after the closing to review your closing documents and to decide if you wish to keep the loan or turn it down. On a Purchase loan or a refinance on a 2nd home there is not a recession period, so make sure you take the appropriate time necessary to evaluate your documents before signing.

-Be weary of predatory loans: Extremely high interest rates, excessive fees, pre-payment penalties not meeting regulations and "Patch or short term fix hard money loans".

-Ask for the required disclosures: A licensed Mortgage broker is required by state and federal regulations to provide disclosures containing: terms, conditions, costs/fees, annual percentage rate, net tangible benefit, rate lock-in, equal credit, equal housing and others within a specified timeframe. Take the time to understand what you are signing up for.

Choosing a Lender:

- Invest the time to understand the factors that affect your ability to obtain the best interest rate and loan type possible for your situation. Credit scores, equity position of your home and ability to maintain a monthly payment. Consider that the parameters are ever changing and different with each borrower and lender.

To get a free copy of your credit report annually you can call 1-877-322-8228 or visit this web site: www.annualcreditreport.com

To get answers to mortgage-related questions, call the Colorado Mortgage Lenders Association on their help line at 1-800-611-4832 OR 303-773-9565.

BBB Copyright and Reporting Policy

As a matter of policy, BBB does not endorse any product, service or business.

BBB Reliability Reports are provided solely to assist you in exercising your own best judgment. Information in this BBB Reliability Report is believed reliable, but not guaranteed as to accuracy.

BBB Reliability Reports generally cover a three-year reporting period. BBB Reliability Reports are subject to change at any time.

If you choose to do business with United Lending Solutions, LLC, please let them know that you contacted BBB for a BBB Reliability Report.

ID: 6001199
Report as of November 8, 2009 02:48
Copyright^© 2009 Better Business Bureau