NLIC.org

Justin Said:

Has anyone financed a home mortgage loan through eloan?

We Answered:

E loan is neither a mortgage bank or an investor so, no, they do not service their loans but sell that servicing to others for a profit, just like many wholesale lenders.

A successful borrower/lender transaction is determined just like anything else, the proficiency of the lender and the quality of the communication between the two parties.

As a direct mortgage lender I am, of course, somewhat suspect of reaching into a barrel when I don't know if I'm going to come up with an apple or a snake, but it is a matter of personal choice.

I have heard of successful on line mortgage transactions and horror stories. The more informed the borrower is about the process and their options the more pro-active they can be. The more pro-active they can be the more likely they are to avoid disappointment.

Good luck.