Can anyone tell me anything about Canadalend.com?

Question

Can anyone tell me anything about Canadalend.com?

Answer 1

V

Answer 2

K

Answer 3

Our sincere thank you to the person who posted the apology.

The Canadlend.com managment team.

Answer 4

I would like to appologies for the post I made about the ethical standards below. I made the post with emotion and  haste and now relize it was the merits of my application and NOT canadalend. After making the post, I immediately requested the administrator delete it. It was very unethical on my part to post this and hope the administrator of this site acknowledge the multiple requests I have made to remove my post.

I would endorse Canadlend who operated ethicially and professionally. And I hope the administrator complies with my request to remove my post as it was made with very poor judgement on my part.  I appolgies to canadalend as I was the one who operated unethically.  

Answer 5

I would like to appologies for the post I made about the ethical standards below. I made the post with emotion and haste and now relize it was the merits of my application and NOT canadalend. After making the post, I immediately requested the administrator delete it. It was very unethical on my part to post this and hope the administrator of this site acknowledge the multiple requests I have made to remove my post.

I would endorse Canadlend who operated ethicially and professionally. And I hope the administrator complies with my request to remove my post as it was made with very poor judgement on my part.  I appolgies to canadalend as I was the one who operated unethically.  

 

Answer 6

In response to the above posts - at Canadalend.com we take all such matters very seriously. While we appreciate everyone's point of view on their experience with us, we would like the opportunity to defend ourselves against the person who posted this and his/her version of events. We would therefore ask the readers of this post (and the original poster) to consider the following when they read the above post:

 

1. The poster of this complaint has chosen to remain anonymous and as such we are not able to go back into our records to get the details of the application in question to determine the facts from either side.

 

2. We base our evaluations on reports from independent appraisers who are NOT associated with Canadalend.com and the credit worthiness of the individual provided by Equifax & Trans union. The fact that a client thinks his/her property is worth a certain value, does not necessarily mean that it is actually worth that value. We handle many applications each week and based on the sketchy details that this individual has provided, we cannot pull our records on the application to verify the above claims. If the appraisal is incorrect or way off the mark then we would like to know why or where so that we can put in appropriate checks to ensure this does not happen again. The credit scores are not controlled by any agent of Canadalend.com

 

3. The person claims that we kept delaying the meeting to sign the mortgage documents. We try our best to address each and every application with the utmost care and would obviously like to discuss this particular application with the agent that dealt with it to see if there were any delays. Again we are unable to do that because the person has not provided any specific details.

 

4. The person mentions that their "other mortgage broker" confirmed that we were known to be unethical - we know it is very easy to remain anonymous and criticize a person or a service. We would be more than willing to discuss this further with the person who posted this or the "other mortgage broker". We have thousands of happy customers who have been more than pleased with our services and who have gone on to become repeat clients.

 

In summary we know it's difficult to please all of the people, all of the time, but we aim to put in procedures and practices to help us get there one application at a time. Feel free to contact the Director of Operations, Jay Parmar at [phone] Ext 236 if you wish to discuss this matter further.

 

Answer 7

Canadalend are unethical scam artist. I made an offer for a house and applied for a mortgage from Canadalend.com. They told me my mortgage was approved but kept dealying our meeting to sign the mortgage documents. Everytime I called, I was told my mortgage was approved and not to worry.  When we finally met a few days before closing, they tried to trap me into a high interest mortgage at 12% combined with a heftly lender fee. I didn't have any other options available because they delayed the meeting until it was too late for me to shop around. I was forced to forfeit the deposit I gave with my offer.  I contacted another mortgage broker who confirmed the Canadalend guys are known to be unethical and I received a mortgage at 4%.

My advice is to stay away from this mortgage brokerage because you will be taken to a ride to help pay for the owners fancy cars.

Answer 8

Our experience was this:  Used CanadaLend and appraisal came in very low, then we were offered a mortgage at a much higher rate (14%).  Declined the offer and went elsewhere where our appraisal came in at about 30K higher and got a mortgage at current rates (5%).

My guess is that either the appraisal companies don't know what they're doing or they're in some deal with Canadalend to get people into higher rates which makes the lenders more money.

Of course this cost us a $350 appraisal fee which I'm fighing over right now - good luck on that one though...

I would be wary of this company.