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Question DetailsAsked on 11/30/2015

is carolina one mortgage a lender or a broker in zip code 29406

mortgage loans

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After wading through three or four holding companies and such I am not sure, but from the relatively bland and meaningless advertising-ese on their websites, looks to me like they are brokers - not making loans themselves, though the phrasing in many places is that commonly used for lenders, like "loan officers" and "mortgage ofices". Below are a couple of links to webpages where they say they can offer you any of hundreds of mortgage plans - indicative of a broker, not a lender - also one showing they are a dba of yet another company called Shelter Lending Services and/or Shelter Mortgage, whose website says they are a dba subsidiary of Carolina One - all of whom are evidently owned by a private equity investment company named CIVC out of Chicago, if I followed the convoluted trail correctly.

I tell you, that trail back and forth between the companies alone would make me leery - then check out the complaint record on the two companies by googling the company names combined with the word complaints or fraud to see what is on the web about them - does not look good to my eyes. There are also several scam claims on the web about a Shelter Mortgage subsidiary in Austin.




Personally - my recommendation - stay with the big nationwide brand mortgage provider names - not that they are better and their rates may be an eighth of a point higher or so, but they have a national reputation to uphold and national oversight of their operations, so usually they are easier to bring into line if their reps start any funny business. And I strongly recommend you stay away from real estate agents who are "affiliated with" or only do business with one broker - that sort of inside dealing you don't need, is inherently a conflict of interest in my view, and you commonly get locked into a deal that favors their interests, not yours.

Answered 4 years ago by LCD

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