BEWARE
of web sites when searching for information. Who or what you think is behind a specific site might not be what you think. Just as the picture, 'who is the man behind the mask'. Just as in mortgage web sites, are you dealing with the government such as HUD or USDA, or lenders and lead generators pretending to be someone else.
What leads me to this blog is because someone left a comment on one of my USDA loan blogs and left a link to a web site. It was one of theirs that makes it appear as a web site for the USDA. If you do your research, it's a lead generator. It's wear you leave your information and this company puts you in touch with numerous lenders. But you would not know this unless you know what to look for. Besides, he had an Active Rain profile, which described what he does for business.
As many of you know or those that follow my blogs, I am all about education. I have never claimed to know it all, but if I don't, I will try to find the correct information. After explaining to this gentleman my thoughts and opinions about leaving his link as a comment, and that I felt his site was misleading to the general public, he wrote back to me. This is what he said.
"www.fhaloansfhamortgages.com This is a FHA site, right?"
He referred to my other blog site that is listed above, trying to tell me that I am advertising that site as an FHA site for FHA loans. I then stated that I don't see how that is possible, when not only do I give my name at the top right part of the site, but there is an about me page, telling people a little information about myself. His site? In my opinion, it truly leads me to believe that it is the USDA site. Here is the front page and you be the judge.
I am sorry, but I have a problem with a site like this. In big bold white letters, it states USDA Rural Development and then opens with the statement, "USDA Rural Development Welcomes You". I know what the USDA site looks like, but do many of you? If you were searching and came across this site, would you know any differently? Do you know this site gathers names and e-mail address and sells them to other lenders? Here is the USDA loans site - USDA Loans -
Do you know that all domain names ending in dot gov has to be approved and registered. There is even a government site that states this. Government Domain Registration & Services - This site protects domain name integrity and this is found on the front page. Here is what it says :
"Domain Name Integrity
To maintain domain name integrity, eligibility is limited to qualified government organizations and programs. Having a managed domain name such as .gov assures your customers that they are accessing an official US Government Site."
My point on web sites is, look at the URL, the very end of it, ( end in dot gov is a clear indication that the government is watching over the site.) This can usually give you a better indication to who is running the site, who is in charge of the site.
I have also seen many FHA web pages claiming to be the main site for FHA loans. There is only one main site and that is called www.hud.gov What I do appreciate and respect are those sites that might look and feel like the main site by the government, but they state right on the site that it's not a government site. Here are a few examples.
OR
Both of these are clippings for other FHA web sites that talk about FHA loans and FHA mortgages. And as you can see, they don't claim to be all about FHA through the government. The first one even says that it's not affiliated with any government agencies, including FHA. I do have a problem with some of these though, because they make these statements in very small letters at the bottom of the site. If you aren't reading the whole site, you might miss this.
Here is one that I have a slight problem with.... this site puts you in contact with other lenders that can do FHA loans. Remember the old saying that people usually don't do anything for free? Well, do you think web sites give out free information? This FHA web site is what I call a lead generator. They put you in contact with other lenders and receive a fee for this from them. Who do you think this fee usually gets passed down to? You, the borrower, because it's carried as an advertisement expense by the lender that signs up for this type of service.
Summary : My whole purpose of this blog is to educate others in what to look for. There are many very helpful web sites out there in regards to USDA loans, FHA loans, VA loans, and mortgages in general. But don't get fooled that you are talking to a government agency or someone giving you information, but who may be capturing your information without you knowing it. Many of these sites have disclose this, but you have to go looking for it on that particular site. Just be careful out there.
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Experience & Knowledge at its BEST !!!
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For more information on FHA loans, please go to this link. The FHA Expert
For more information about the 2009 Tax Credit for First Time Homebuyers : 2009 Tax Credit
For important mortgage insight to watch for, please read : Consumers need to be aware of these Red Flags !!!!
Copyright © 2009 by Jeff Belonger
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Experience & Knowledge at its BEST !!!
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For more information on FHA loans, please go to this link. The FHA Expert
For important mortgage insight to watch for, please read : Consumers need to be aware of these Red Flags!
For information about FHA myths & FHA rumors, please read : FHA Myths & Rumors
Copyright © 2011 by Jeff Belonger of Infinity Home Mortgage Company, Inc
Jeff- I am glad that you got the deal closed with the buyers from our office that Lisa was working with. Great job!
I think it is just too sneaky the websites and the commercials on tv!
Respa should &$^@ or get off the pot and deal with lead generating business.
Referral fees are supposed to violate Respa.... But these sites pop up daily.
KATERINA.... . so am I... I think I took that deal in the first week of February and had it approved shortly after... that we had at least 3 settlement dates after the approval.. and it was delayed not by us, the lender, but because of the attorney involved and the bank, being bank owned. Boy, was that a long one... lol In any case, thanks for the trust and for giving me the chance.
In regards to so many web sites, I aguree, so many seem to be sneaky. Even on tv, it it irks the hell out of me. All we can do is just write about them. thanks
TOM.... . I am not sure if RESPA can do anything about those... but the gov't should do something about them, especially if these companies are making these sites appear to be the real deal. Making you believe that you are actually going to the real USDA site or the real HUD site, etc, etc.
But yes, referral fees are illegal with RESPA.... but not a company that is a lead generator. But yes, they do pop up daily. thanks
Jeff - As always, very informative and educational. All good info for the consumer to know, especially when so many consumers get duped by these sites everyday. Keep up the good work. :)
Hi Jeff: They're all trying to trick me - those tricksters!
:)
Jeff, It is so easy to create a website that is deceptive that it's scary. We all have to be very careful out there. Rich
Jeff, very good information. I do happen to know what the USDA site looks like, been there many times for agriculture related programs. I would have known, but most would not have. Who really goes to the USDA on a regular basis? You are right, we have to be hyper vigilant about places we visit on the web and whom we give information to.
Great post, thank you!
Jeff,
Pity is that so many will still think they're on a Government site instead of an ad. It's very good information but you're singing to the choir!
Bill
I have seen these sites as well and it is quite deceptive. The average consumer would certainly fall for it.
Thank you Jeff, there is so much junk out there trying to take advantage of home owners in distress that is sickening. Great info
I second Tom's comment 100%.
The deception in our business can be scary, keep fighting the good fight JB.
What you say is true. I've seen these sites as well and feel really bad for the customer caught in these type of deceptive traps. You go to leanding tree for rate quotes, not a "pretend" FHA or USDA site. It would be nice to see the attys and such really crack down on those fake sites. I'd have to believe in the end it is NOT in the public's best interest.
Nice post. I'm being only somewhat facetious when I say this: the deceptive Websites offer have a more polished look and feel than government websites. Many government Websites have a design from the early 2000's.
Great post -- I recently wrote something similar about HUD sites; and how there are sites out there that aren't the official site
With all the regulations you would think that this type of deception would be included as a violation.
Jeff - Great advice for all of us. Thanks so much for providing this information, since most people wouldn't think to check at this level of detail. Nice job!
Jeff...thanks for the heads up. I think part of our job is to educate our clients so they don't go off to a 'tricksters' site and get caught up in a trap. Sneaky stuff. It''ll be a while before the gov starts tracking these folks down as they've got bigger fish to fry.
Thanks.....I'm going to share this post with my team and staff so we can all learn from it.
Jeff,
I have found many of these sites were formally B-paper pushers so I do not trust them!
the .gov is a good clue Jeff. Even with irs.com or irs.org....those are not the same as irs.gov. :)
Thanks Jeff for tweeting this out last night and I'm glad it got featured. If we are all diligent and report this type of inappropriate behavior, perhaps we can put a dent into it.
It's too bad that the government doesn't make it illegal like some real estate franchises do to protect their marks. I know that RE/MAX doesn't allow any agent to have the word 'remax' in their site name. The National Association of Realtors won't allow you to use the word Realtor in your domain name unless it is coupled with your complete first and last name.
Why doesn't the FHA protect their marks to prevent this sort of thing?
It really does look like an official site. Intentionally deceptive and very well done.
You are very transparent on your FHA sites and it is clear that you work in the buyers best interests.
DONNA..... thanks for the compliment. What's funny is that I have always had these same complaints and concerns over the last 8 years or so, but I didn't think about writing this specific blog until this guy put his link into one of my comments. I am glad he did, because this needs to get talked about more than it does. And yes, many consumers get duped daily. Look at the online scams when it comes to predators that steal your identity over the internet... or those people that get you to send money, possibly telling you that they love you, etc, etc.. I had a few girls contact me online, send me pics, make me feel loved... and then 1 week later, bam, they are in trouble and now need money... lol.. but so sad, because people do follow for it. thanks
MATT..... you should put your cat onto them then, maybe that will teach them... lol Seriously, there are many that will try and trick you, make you this otherwise. I know it's part of sales, but it's the part that ticks me off.
RICHARD.... . that is the scary part.. it's very easy to make a site like that and it's easy to fall prey to it, unless you know what you are looking at and or know what you are talking about. thanks
ANDREA..... . good for you, about the USDA site.. but as you can see, this other site could pass for the main site for USDA and many wouldn't know the difference. Hence why I love writing about this kind of stuff, which you mentioned, being aware of this kind of stuff. thanks
WILLIAM aka BILL...... yes, I am singing to the choir for the most part on here, but this post was not for AR, but to the average consumer. If I didn't get one comment, that wouldn't bother me, because I get many borrowers that read my blogs and who call me up. I love to educate and educate those on AR, but my mission is a higher one when getting business. thanks
Jeff,
These are very important warnings, especially for our clients. It seems to me that the real estate professionals are able to recognize the wrong sources, but the public probably won't.
Jeff, thanks for educating the public. I will be sure to follow you on Twitter. Keep up the good work.
Hi Jeff. Thanks for giving us a heads up on these tricky websites. Trying to trick someone into doing business with you is just not the way to establish a business relationship with someone. It just wont last.
Well written post - very informative.
BILL..... I think not only the average consumer, but some loan officers and realtors could fall for some of this. It's just human nature to go with someone that sounds good or who makes promises and guarantees. thanks
SONJA..... my pleasure, hence why I wanted to write about this... especially after it was staring me right in the face when this other person sent me a link to their site. And they didn't understand when I asked them to remove it.... lol
JASON S. .... . I think many of us would agree with each other. And you have people like Bill A. that says that I am preaching this to the choir... but I feel that not all know this or have seen this. thanks
STEVE..... I agree with you 110%, that the DA's would look into this and such. But I guess it would be up to people like you and I, to report sites like these? Are at least for the state and or other agencies to make all companies like this to put something mandatory on their site, so people can see the difference. And I am not talking about small letters as I showed above. thanks
TIM... . Bingo and I agree, that these sites look very polished. But I don't think the average consumer knows this or watches for this... thanks
Jeff, this kind of thing goes on in real estate also. They call them 'stealth sites' and they aren't legal, because a broker's name/logo is supposed to be prominent in any advertising we do. Thanks for the heads up about lender sites.
Jeff, The lending experience is so challenging for our clients today. It is a shame that we also have to try to figure out who is legitimate and who isn't! Thanks for this post and the links!