Xpressloans 911 IS A SCAM!
Member since 2018 · 1 post · 4 votes
Xpressloans 911 IS A SCAM!
Most Popular Reply
Jonathan GreeneBusiness Member
Real Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votesI am shocked that a company called Xpress loans 911 is a scam. Next thing you will tell me is that We Buy Houses Quick for Cash is also a scam where they don't have the actual money to buy the house.
53 Replies
- 5yJonathan GreeneBusiness MemberReal Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votes
I am shocked that a company called Xpress loans 911 is a scam. Next thing you will tell me is that We Buy Houses Quick for Cash is also a scam where they don't have the actual money to buy the house.
- Member since 2020 · 1 post · 0 votes5y
What were your loan terms? Were they unusual?
- Flipper/Rehabber · Plainfield, NJ · Member since 2017 · 33 posts · 28 votes5y
Please see the Xpress Loans THREAD. It's getting spicy in there :)
https://www.biggerpockets.com/...
@johnathan green
@anthony rodriguez
@Anthony Rodriguezundefined
- Member since 2020 · 31 posts · 13 votes5y
I've written North Carolina Governor Roy Cooper's office with my complaint against Xpress Loans 911 LLC and asked that office for clarification, review, and enforcement as they see fit.
And telephoned Xpress Loans attorney and told her to file their case against me.
The truth is not "defamatory and libelous."
If you've been ripped off by this company let it be known and file a complaint.
Email NC Gov. Roy Cooper: Contact Governor Cooper
https://governor.nc.gov/contac...
File a Complaint with the North Carolina Department of Justice (ncdoj.gov)
https://ncdoj.gov/file-a-compl...
2019 North Carolina General Statutes
Chapter 66 - Commerce and Business
Article 20 - Loan Brokers.
Article 20.
Loan Brokers.
§ 66-106. Definitions.
(a) For purposes of this Article the following definitions apply:
(1) A "loan broker" is any person, firm, or corporation who, in return for any
consideration from any person, promises to (i) procure for such person, or assist
such person in procuring, a loan from any third party; or (ii) consider whether
or not it will make a loan to such person.
(2) A "loan" is an agreement to advance money or property in return for the promise
to make payments therefor, whether such agreement is styled as a loan, credit
card, line of credit, a lease or otherwise.
(b) Except for mortgage loans as defined in G.S. 53-243.01, this Article shall not apply to
any party approved as a mortgagee by the Secretary of Housing and Urban Development, the
Federal Housing Administration, the Veterans Administration, a National Mortgage Association
or any federal agency; nor to any party currently designated and compensated by a North Carolina
licensed insurance company as its agent to service loans it makes in this State; nor to any insurance
company registered with and licensed by the North Carolina Insurance Commissioner; nor, with
respect to residential mortgage loans, to any residential mortgage banker or mortgage broker
licensed pursuant to Article 19A of Chapter 53 of the General Statutes or exempt from licensure
pursuant to G.S. 53-243.01(12) and G.S. 53-243.02; nor to any attorney-at-law, public accountant,
or dealer registered under the North Carolina Securities Act, acting in the professional capacity for
which such attorney-at-law, public accountant, or dealer is registered or licensed under the laws of
the State of North Carolina. Provided further that subdivision (1)(ii) above shall not apply to any
lender whose loans or advances to any person, firm or corporation in North Carolina aggregate
more than one million dollars ($1,000,000) in the preceding calendar year. (1979, c. 705, s. 1;
1981, c. 785, s. 1; 1993, c. 339, s. 2; 2001-393, s. 4; 2008-228, s. 1
- 5yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Originally posted by @Moses Jean:
Please see the Xpress Loans THREAD. It's getting spicy in there :)
https://www.biggerpockets.com/...
@johnathan green
@anthony rodriguez
@Anthony Rodriguezundefined
I got a submission on my website please read its interesting.
"
Hi. I am an employee at Xpressloans911 and I am here to give you detailed information about what kind of treatment Ribert and Jill give us. First of all, we are all from the Philippines, from the sales team to Loan openers to underwriters. They pay us $4/hr and make us work overtime without pay. They expect us to work atleast 45hrs a week but only pay 35hours. It is pure slavery. The reason why some agent are goal driven to take commitment fee is because that i the only way for us to earn more and feed our families. We get $100 for every $2000 paid commitment fee to us by clients. And most of the promises they give on the initial termsheet are LIES. They are not the one who can determine that because they are ONLY BROKERS. The money they are kending is not from them. They also submit the clients to lenders like ROC Capital, Lonestar, RCN Capital, FCN, and many more. And they always treat their employees crappy like these employees owe them for getting salary when they work 9-10 hours a day and obky get paid for 7 hours a day. Robert is a piece of ****. He is an *******. He always badmouth his employees like he own them. Please do help us to dissolve this Scammers!
So it appears this company is a broker.. not well liked but just like thousands of them out there broker lenders money.. it just seems like these guys want to get paid for turn downs and create as much cash up front as they can. Caveat Emptor
- Flipper/Rehabber · Plainfield, NJ · Member since 2017 · 33 posts · 28 votes5y
More ammunition!
- Member since 2021 · 3 posts · 13 votes5y
Anthony,
Would you be interested in joining many people that got scammed by Xpress loan in Class Action lawsuit?
- Flipper/Rehabber · Plainfield, NJ · Member since 2017 · 33 posts · 28 votes5y
@Lena Gelfond
I’m interested
- Member since 2021 · 3 posts · 13 votes5y
Great! I am new to this forum and wish to reach as many people as possible. Don't know how to do that yet but hope many people will read and respond.
- 5yStephen HollowayPro MemberInvestor · Boise, ID · Member since 2016 · 12 posts · 10 votes
Agree 100%!!
They are not upfront about all of their fees, they are extremely rude to the point that they made my loan broker cry, they pressure you to use their recommended insurance company, and they take forever to get anything done.In addition, I refinanced away from them right after we closed because of how horrible the experience was, and they called my closing agent and loan broker (not me) several months after to say that I'm at risk of being in default due to not paying their insurance company?? I no longer had anything to do with them, their insurance, or the old loan.
They need to be shut down immediately.
- Flipper/Rehabber · Plainfield, NJ · Member since 2017 · 33 posts · 28 votes5y
So you closed? Lol we didn’t gey thT
- 5yStephen HollowayPro MemberInvestor · Boise, ID · Member since 2016 · 12 posts · 10 votes
Yeah, i did finally close. Worst. Experience. Ever.
- Flipper/Rehabber · Plainfield, NJ · Member since 2017 · 33 posts · 28 votes5y
Wow very few do
- Rental Property Investor · Hollywood, FL · Member since 2015 · 156 posts · 93 votes5y
Originally posted by @Jonathan Greene:
I am shocked that a company called Xpress loans 911 is a scam. Next thing you will tell me is that We Buy Houses Quick for Cash is also a scam where they don't have the actual money to buy the house.
Why is it when people post on this site, which is supposed to be a helpful place for seasoned and budding investors, some people go for the easy potshots? If you really don't have anything to contribute to the conversation why don't you find a thread where you can help?
- 5yJonathan GreeneBusiness MemberReal Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votes
Hey, @Peter Philando check my votes versus posts and my post history and deal flow and then reassess what you said. Sometimes humor in the forums is a welcome change from all of the same questions that people ask when they could just search the forum.
- Rental Property Investor · Hollywood, FL · Member since 2015 · 156 posts · 93 votes4y
I see your stats and what? Thank you for your contributions but you can also be wrong too and should be able to admit it.
- 4yJonathan GreeneBusiness MemberReal Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votes
@Peter Philando explain how I was also wrong and then let me know. Do you want to do business with a company called Xpressloans 911? I don't. No one here needs lectures on their comments. You haven't been here long enough to understand the point. You aren't supposed to make posts like this about companies because they could be fully biased and not based of fact and then they end up with the owner of the company coming in and deleting it, so having some levity is helpful. Please go back to the morally policed section of BP where no humor is allowed and see how much learning is complete there. While you are at it, can you also please request that all questions about LLCs are deleted since they have all been asked and answered. Thanks, much.
- Member since 2021 · 18 posts · 16 votes4y
Ladies and Gentlemen! I want everyone to share this post on any social media platforms. The hell with Xpress Loans 911! You all want some tea? Let me spill the tea! After this, I am hoping and praying that Jill Berg and Robert Berg get. the punishment they deserve.
This company is a SCAM! Xpress Loans is a mortgage BROKER. They never fund their own deals. Why?? Simply because they don't have the capacity to do that. They don't have funds at all! They have been living off these poor people's commitment fees! That is where they are getting their bread and butter from and their employees' salary(which take note as I've heard is around $4/hour).
They will lure you in and make you believe on all their *****! If you are choosing Xpress Loans, you might as well go to LEGIT PRIVATE MONEY LENDERS!
Now, if you want 100% financing go to Residential Capital Partners LLC. https://residentialcapitalpart...
If you want rolled in fees go to GROUNDFLOOR https://groundfloor.us/
Those are the programs that their sales people are selling you. 100% financing and rolled in fees! And amazingly, people will believe that especially new investors who know nothing about private money lending. They advertise 100% financing as if they are funding it themselves. Take note, Residential Capital only charges 1% (or 1 point), NO COMMITMENT FEES! NO UNDERWRITING FEES! Yes, you have heard that right! They only charge 1%, a thousand dollar for their doc preparation fee and thats it! Go to Xpress Loans and you will be paying 3% (or 3 points), $2,995 Underwriting Fee (as if they are the direct lenders) and your commitment fee will NEVER be applied to your closing costs nor you can get a refund. They'll tell you bs like "we used it to buy-down your interest rate or interest reserves". IF they tell you this bs, tell them that you don't care about any of that, they can apply the correct interest rate and reserves without the said "buy-down". LOL.
If you want rolled in points, go with Groundfloor. They only charge 2.5% and points will be rolled into the loan.
They are sending all of your deals to Groundfloor and Residential Capital. If someone in here has a deal that was closed by Xpress Loans with rolled in fees. Look at your loan package again and you will see Groundfloor in there. The same with 100% financing, you'll clearly see Residential Capital.
Lately, they are advertising the Line of Credit Program. They charge people with a commitment fee of $10,000! YES, $10,000! For what? For an effin' piece of paper. Getting you approved for a Line of Credit costs NOTHING! You want Line of Credit?? Go to LimaOne. That is where they are bringing your applications to! They are ad Line of Credit for $1,000,000 and had the clients oay $10,000 commitment fee upfront! The amount will always depend on your liquidity people! Current liquidity x7 will be the amount you'll get approved with! AND IT IS NOT 100% FINANCING!!
Don't waste your time and your money dealing with this BROKER! GO DIRECTLY TO LEGIT PRIVATE MONEY LENDERS! They don't have a Loan Committee for Christ's sake! They are changing terms every now and then because they are shopping your deal around!
They send those deals to PML like Residential Capital, Groundfloor, ROC, LimaOne, DLP, Finance of America, Cap360 and a lot lot more! And LEGIT PRIVATE MONEY LENDERS will never charge any Commitment Fees upfront. Xpress Loans will tell you otherwise, but do your own research. NOBODY charges CF upfront!
BE WISE ENOUGH! If it is too good to be true, it is not true at all! I am hoping that everyone could share this so we can save those future investors who are planning to start their business in real estate. For Xpress Loans 911, Jill Berg and Robert Berg and all of their employees who are willing victims of this SCAM, your day will come! - Member since 2021 · 18 posts · 16 votes4y
To be fair, okay let us say Xpress Loans 911 can get deals funded BUT they do nothing on their end. They only collect commitment fees and coordinate with the REAL LENDER. It is basically the same process. So why would you go through a broker and pay a hefty amount of commitment fee, when you can go directly to a real lender and pay nothing upfront?
First, they will lure you in, giving you a term sheet with the terms that you wanted (cause that is how they can get their commitment fee) then your file will go to their so-called "underwriters and loan openers", these loan openers will collect your documents, these underwriters will send your deals to the REAL LENDERS. And voila! You will be getting a different term that what was presented to you upfront. Probably the same terms that you got from the top lenders you have inquired with. LOL.
Then you'll feel helpless cause Xpress Loans will NEVER give you your commitment fee back. NEVER! You are left with no choice cause either you close the deal (with a totally different term from what you signed up for) or walk away, they will never give you back your money.
THIS IS THE REALITY OF XPRESS LOANS. I ASK EVERYONE'S HELP TO EXPOSE THEM AND CHASE THEM OFF THE INDUSTRY! - Member since 2021 · 18 posts · 16 votes4y
Originally posted by @Jay Hinrichs:
Originally posted by @Moses Jean:
Please see the Xpress Loans THREAD. It's getting spicy in there :)
https://www.biggerpockets.com/...
@johnathan green
@anthony rodriguez
@Anthony Rodriguezundefined
I got a submission on my website please read its interesting.
"
Hi. I am an employee at Xpressloans911 and I am here to give you detailed information about what kind of treatment Ribert and Jill give us. First of all, we are all from the Philippines, from the sales team to Loan openers to underwriters. They pay us $4/hr and make us work overtime without pay. They expect us to work atleast 45hrs a week but only pay 35hours. It is pure slavery. The reason why some agent are goal driven to take commitment fee is because that i the only way for us to earn more and feed our families. We get $100 for every $2000 paid commitment fee to us by clients. And most of the promises they give on the initial termsheet are LIES. They are not the one who can determine that because they are ONLY BROKERS. The money they are kending is not from them. They also submit the clients to lenders like ROC Capital, Lonestar, RCN Capital, FCN, and many more. And they always treat their employees crappy like these employees owe them for getting salary when they work 9-10 hours a day and obky get paid for 7 hours a day. Robert is a piece of ****. He is an *******. He always badmouth his employees like he own them. Please do help us to dissolve this Scammers!
So it appears this company is a broker.. not well liked but just like thousands of them out there broker lenders money.. it just seems like these guys want to get paid for turn downs and create as much cash up front as they can. Caveat Emptor
THIS IS ABSOLUTELY TRUE! So stay away from Xpress Loans 911 people! You are only making Robert Berg and Jill Berg rich. Not to mention that they are also outsourcing their staff from other countries to set up this scheme.
- Member since 2021 · 18 posts · 16 votes4y
Originally posted by @Stephen Holloway:
Agree 100%!!
They are not upfront about all of their fees, they are extremely rude to the point that they made my loan broker cry, they pressure you to use their recommended insurance company, and they take forever to get anything done.In addition, I refinanced away from them right after we closed because of how horrible the experience was, and they called my closing agent and loan broker (not me) several months after to say that I'm at risk of being in default due to not paying their insurance company?? I no longer had anything to do with them, their insurance, or the old loan.
They need to be shut down immediately.
You are one of the lucky people who got funded but for sure it was NOT by Xpress Loans 911 cause they don't have money to fund deals. I have heard a lot of brokers are not getting the fees they deserve from Xpress Loans 911. As a broker, that is not fair. NEVER.
- Member since 2021 · 18 posts · 16 votes4y
Originally posted by @Anthony Rodriguez:
Xpress loans 911 is a major scam!! Andrew of Xpress loans sent me a term sheet for 15% down at 6-8% interest on a 30 year loan in which I had to pay 1,295$ commitment fee. Once I paid and went through the loan process with Rory Fernandez the underwriter , the week of closing they told me they couldn’t find a loan with those terms. I was calling them multiple times a day to make sure everything was ready for closing and they still dropped the ball, and now are just keeping my money AFTER THE OWNERS Robert & Jill Berg said they would refund my commitment fee if they couldn’t find me a loan with my terms. TERRIBLE COMPANY THEY WILL KEEP YOUR COMMITMENT FEE AND NOT FIND YOU A LOAN !!!!
This is what I am talking about. Their term sheets are "clickbait". After your file goes to the underwriters, you'll get the correct terms from lenders that is why they keep on changing. They NEVER refund commitment fees dude.
- Member since 2021 · 18 posts · 16 votes4y
Originally posted by @NA NA:
I've written North Carolina Governor Roy Cooper's office with my complaint against Xpress Loans 911 LLC and asked that office for clarification, review, and enforcement as they see fit.
And telephoned Xpress Loans attorney and told her to file their case against me.
The truth is not "defamatory and libelous."
If you've been ripped off by this company let it be known and file a complaint.
Email NC Gov. Roy Cooper: Contact Governor Cooper
https://governor.nc.gov/contac...
File a Complaint with the North Carolina Department of Justice (ncdoj.gov)
https://ncdoj.gov/file-a-compl...
2019 North Carolina General Statutes
Chapter 66 - Commerce and Business
Article 20 - Loan Brokers.
Article 20.
Loan Brokers.
§ 66-106. Definitions.
(a) For purposes of this Article the following definitions apply:
(1) A "loan broker" is any person, firm, or corporation who, in return for any
consideration from any person, promises to (i) procure for such person, or assist
such person in procuring, a loan from any third party; or (ii) consider whether
or not it will make a loan to such person.
(2) A "loan" is an agreement to advance money or property in return for the promise
to make payments therefor, whether such agreement is styled as a loan, credit
card, line of credit, a lease or otherwise.
(b) Except for mortgage loans as defined in G.S. 53-243.01, this Article shall not apply to
any party approved as a mortgagee by the Secretary of Housing and Urban Development, the
Federal Housing Administration, the Veterans Administration, a National Mortgage Association
or any federal agency; nor to any party currently designated and compensated by a North Carolina
licensed insurance company as its agent to service loans it makes in this State; nor to any insurance
company registered with and licensed by the North Carolina Insurance Commissioner; nor, with
respect to residential mortgage loans, to any residential mortgage banker or mortgage broker
licensed pursuant to Article 19A of Chapter 53 of the General Statutes or exempt from licensure
pursuant to G.S. 53-243.01(12) and G.S. 53-243.02; nor to any attorney-at-law, public accountant,
or dealer registered under the North Carolina Securities Act, acting in the professional capacity for
which such attorney-at-law, public accountant, or dealer is registered or licensed under the laws of
the State of North Carolina. Provided further that subdivision (1)(ii) above shall not apply to any
lender whose loans or advances to any person, firm or corporation in North Carolina aggregate
more than one million dollars ($1,000,000) in the preceding calendar year. (1979, c. 705, s. 1;
1981, c. 785, s. 1; 1993, c. 339, s. 2; 2001-393, s. 4; 2008-228, s. 1
I am hoping and praying to see this company out of business (not sure if it can be called business) and Mr. and Mrs. Berg should get the punishment they deserve.
- Member since 2021 · 18 posts · 16 votes4y
Originally posted by @Lena Gelfond:
Anthony,
Would you be interested in joining many people that got scammed by Xpress loan in Class Action lawsuit?
Hi Lena. I am hoping that you get a lot of people to work with you in filing this lawsuit. Let us stop Xpress Loans!
- Member since 2021 · 3 posts · 8 votes4y
Yes, Xpress loans 911 is a TOTAL SCAM. They do exactly as Anthony said above. They have scammed hundreds of people out of their money with promises and terms that magically change just prior to a closing that NEVER happens. Yet they keep their "commitment fee" and leave you with nothing except empty pockets. They drug me and a seller through the mud for over 4 months and 6 extensions and changed their terms right before closing, EVERY TIME.
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