Comments on: Lead Provider Playoffs Low.com VS. LowLender

By: Lead Critic

Lead Critic — Mon, 26 May 2008 03:25:24 +0000

The shocked comments are me…I placed them from my iPhone and didn’t put the website.
Also, I am still moderating and watching every comment on the blog, but am not approving every single one. This way comments come up in real time, not matter what I may be doing at the time.

By: A Lead Buyer

A Lead Buyer — Mon, 26 May 2008 02:25:07 +0000

Above was just to prove a point…

By: leadCritic

leadCritic — Mon, 26 May 2008 02:24:43 +0000

Just noticed posts aren’t being “moderated”. Is that a change?

By: A Lead Buyer

A Lead Buyer — Mon, 26 May 2008 02:23:43 +0000

I notice “leadcritic” above isn’t hyperlinked. Is it you?

The FTC isn’t something to screw with…

By: leadCritic

leadCritic — Fri, 23 May 2008 23:54:56 +0000

I am really shocked!

By: leadCritic

leadCritic — Fri, 23 May 2008 23:49:30 +0000

Thanks for the info TheFed.
This is uncalled for and should be eliminated immediately

By: TheFeds

TheFeds — Fri, 23 May 2008 22:54:33 +0000

Here is Regulation Z§ 226.24

The KeyLeadsOnline Google ad should say 7.33% not 2.9%. If one rate is shown, it MUST be the APR.

Advertising.

(a) Actually available terms. If an advertisement for credit states specific credit terms, it shall state only those terms that actually are or will be arranged or offered by the creditor.
(b) Advertisement of rate of finance charge. If an advertisement states a rate of finance charge, it shall state the rate as an “annual percentage rate,” using that term. If the annual percentage rate may be increased after consummation, the advertisement shall state that fact. The advertisement shall not state any other rate, except that a simple annual rate or periodic rate that is applied to an unpaid balance may be stated in conjunction with, but not more conspicuously than, the annual percentage rate.

By: TheFeds

TheFeds — Fri, 23 May 2008 22:51:26 +0000

KeyLeadsOnline – you maybe not aware of this
but your Google ads are illegal. The FTC is investigating lenders – you may want to clean up your act as you and your clients may be seriously liable.

Here is a KeyLeadOnline ad today, as found on Google for the keyword “refinance”. 2.9% is not the APR – its actually not even the interest rate. This ad is way illegal per Regulation Z.

Here is the ad:

Refinance As Low As 2.9%
Rates As Low As 2.9%. Save Now!
Up To 4 Free Quotes. No Obligation.
http://www.HomeLoanTrust.com

Here is the disclosure on the site

For example, the start payment rate is 2.75% while the interest rate will be based on a monthly adjusting index such as the Monthly Treasury Average, or “MTA” index, which is currently at 4.522% (12-MTA as of 1/18/2008), plus a margin of 1.75% to 5.05%. The margin is based on the selected prepayment penalty from zero to three years, selected points, and adjustments for FICO, documentation (stated or full); loan to value, cash out, and other criteria. Typically FICO scores range above 600 with higher FICO scores having smaller pricing adjustments then lower FICO scores. In this example, if the loan funded had a margin of 2.45%, the start rate for the first month would be 2.75%, but the fully indexed interest rate would be 6.972% (and an APR of 7.33%) based on the total of the index (4.522%) plus the margin (2.45%). Since the payment is still based on 2.45%, it is likely that the accruing interest will exceed the minimum payment amount, resulting in negative amortization. At the end of each 12-month period, for the first five years, the start payment rate can be adjusted up 7.5% of the payment amount subject to potential changes and limits contained in your loan contract, mortgage, or other agreement. The lender will cap the negative amortization at 115% of the original loan amount although the cap can fluctuate based on state laws, lender programs/guidelines, and other reasons.

Here is more info:

Domain Name: HOMELOANTRUST.COM

Administrative Contact,
Technical Contact:
Ross, Neil ctouriz ( @ ) keyleadsonline dot com
Key Leads
1688 Meridian Ave.
Ste. 416
Miami Beach, FL 33139
US
3056734187