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Newkey Home Lending / Illegal practices

1 20422 Beach Blvd #115Huntington Beach, CA, United States Review updated:
Contact information:

Beware of Newkey Financial Corp dba Newkey Home Loans. The pay structure (100% commissions and Royalty system) is 100% illegal under both HUD and the CA Dre regulations. Agents please verify the pay structures with the DRE and HUD before entering into such agreements. You may become fully responsible which could compromise your licensing under the DRE and the ability to work with HUD in the future.

They are currently being investigated by both the DRE and DOC. See -http://www.corp.ca.gov/FSD/08pdf/4130602.pdf

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Comments

  • Vi
      5th of Oct, 2009
    0 Votes

    The truth is; that a Complaint is as CREDIBLE as the Complainer.
    The question is---if a Complainer is suspicious then isn't the Complaint suspicious?

    When facts are brought into light; this Complaint AND Complainer are BOGUS.

    Case and Point:

    Notice the "warning" language of this Complaint(of 7-15-09) when compared to a supposedly different complainer's
    complaint on [redacted] dated 7-12-09---they are EXACT copy's of each other, just 3 days apart. Again, EXACT copies of each other.

    The Ripoff complaint was supposedly written by a Mtg. Pro DeMarsh of San Diego, while this complaint by SF Mortg. Guy
    supposedly out of San Fransisco---read both and they are EXACTLY the same. Isn't that VERY SUSPICIOUS? A RED FLAG.
    And look at SF's city address here, it's Huntington Beach and not San Fransisco. Another Red Flag.

    Lastly, if this "person, competitor, people" truly cared to warn others about a reasonable complaint, then why not
    go to the main source to do so? And that's the DRE. Who by the way, knows of NO INVESTIGATION on Newkey Financial.
    The DRE's main number is: 877 373-4542.

    In closing, in a fair court of law, ALL parties are looked upon underneath th light of truth. They're not allowed to hide.
    When a "Complainer" is exactly typing under someone else, somewhere else--intelligent people know there's a lie.
    And when it's on sites such as this and [redacted] where complainers are Anonymous,
    we must all be careful to not be lured in by deceptive liers with self-serving motives.

    This is Richard Lee, CEO of Newkey Financial. Any questions; 951 271-3320 ext.501

  • 75
      29th of Nov, 2009
    0 Votes

    The complaint says that you didn't pay your bond. It was made by the agency that issued your license.

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