Steltmen GroupVirtual Branch Fraud

H
This review was posted by
a verified customer
Verified customer

This is and email that will hopefully save people a lot of Money. The Steltmen group/ virtual branch is not a mortgage company. The main business is taking your montly fees. The following : The are not backed by a federal charter. ( They could not supply one when my state asked for it.) There fees on each loan approach $2300. Bteween them and there broker. FHA are done in violation for the law. They are not a mortgage company at all. Broker to to broker to broker The source is Nations Funding Source. Ypu can go direct with no montly fee. They are not license in every state not even close. In fact Steltmen is not licensed at all. You cannot use rate sheets you cannot call the wholsale rep you cannot order your own appraisal or title If you are a real professional mortgage broker, you will be very disipointed with this group. it cost me $3500 bucks to find this out. I hope this save you the plunge that i took.. Every thing they say is just to suck you in. There company is really not set up to close mortgages it is set up to take your montly fee. Every thing is brokered ( poorly at that). Save your money.

Responses

  • Wa
    Wayer Jun 28, 2011
    This comment was posted by
    a verified customer
    Verified customer

    This is and email that will hopefully save people a lot of Money. The Steltmen group/ virtual branch is not a mortgage company. The main business is taking your monthly fees. The following : The are not backed by a federal charter. ( They could not supply one when my state asked for it.) There fees on each loan approach $2300. Bteween them and there broker. FHA are done in violation for the law. They are not a mortgage company at all. Broker to to broker to broker The source is Nations Funding Source. Ypu can go direct with no montly fee. They are not license in every state not even close. In fact Steltmen is not licensed at all. You cannot use rate sheets you cannot call the wholsale rep you cannot order your own appraisal or title If you are a real professional mortgage broker, you will be very disipointed with this group. it cost me $3500 bucks to find this out. I hope this save you the plunge that i took.. Every thing they say is just to suck you in. There company is really not set up to close mortgages it is set up to take your monthly fee. Every thing is brokered (poorly at that). Save your money.

    0 Votes
  • Ra
    razzle May 16, 2011

    Hogwash obviously didn’t take very long to ready the agreement that he signed when he set up with The Steltmen Group. They clearly state that they are not the bank, in fact the agreement states that they are not licensed. You must be a real detective Hogwash! I have worked with them for years. There have been times that I though perhaps there was a better option but each time I tried it didn’t take to long for me to realize that The Steltmen Group offers the best option out there. The Steltmen Group has proven to be a stable company that cares about its people. Sure there have been bumps along the road but I have come to realize that there is no better place to be because they are always looking for better options for those of us trying to survive in this messed up business.

    0 Votes

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