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Private Lending & Conventional Mortgage Advice

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CK Hwang
  • Capistrano Beach, CA
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Checking legitimacy of mortgage broker

CK Hwang
  • Capistrano Beach, CA
Posted Oct 29 2014, 14:23

Hey everyone, I'm currently in the process of refinancing a paid off rental property and was wondering if anyone had suggestions on how to check out the legitimacy of a lender besides cross checking their broker license number?

I recently read an article about this brokerage that is trying to simplify the lending process. They are called Lenda, www.lenda.com and have apparently received some seed funding from VCs to digitize the loan application process. 

So far my experience with them have been very positive, good customer service, good rates, responsive to my questions etc, etc, but being such a new company, I am worried that they are not legit, ie sign my house over and never send me my money or try to scam me in some way. 

Disclaimer, they have done nothing to make me feel this way. I'm just a very cautious person. Anyone has heard of Lenda or can suggest other ways to check their legitimacy?

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