E-Loan

Full review
I was looking to get pre-approval for a home purchase. The experience left a bad-taste in the mouth, and I am dropping them from my list of trustworthy businesses.

First, there was very little 'e' in e-loan. On their web-site, I filled out a detailed application (the most intrusive of all my loan applications.) I was expecting to get a on-line or email decision with an APR.

Instead, I got a call from some flunky, who proceeded to 'qualify' me by asking me the same questions again as I had filled in my application, and then put me on hold to talk to a loan officer.

After 30 minutes on hold, a loan officer came on line and asked me -- guess what -- the same questions again (I insisted that I had already provided the info they needed to make a decision, to little avail).

After several minutes on the phone, verifying my street address for the umpteenth time, I asked them to terminate the application, as I saw no point in wasting my time further. At this stage they quoted me an absurdly high APR (+1% over competing offers), having the temerity to suggest that their 'no loan origination fees' was somehow a compensation for spending hundreds of dollars more per month for the next 30 years!

And did I say the loan 'officer' kept making sarcastic comments about my finances, the location where I was proposing to buy, my job history etc? What an a**h***!