National Lending Corporation Info
Hello All:
I am new here. Found you searching for information on NLC.
I have been approached by NLC to become a "recruiter" I would like any and all information that anyone has about this company. Good and Bad!
They have a $125 fee to join. I am very sceptical when it comes to paying someone else to work for them. I have been ripped off way to many times. My daughters are also interested in this company. And, I would hate to see them ripped off since none of us can afford to loose any money. I am on disability. Would love to get off it. But don't want to loose everything in the process either. Please help with any info.
Thanks
Cindy
NLC is almost strictly MLM. As I understand it, they don't much care if you actually close any loans, as long as you recruit other suckers, I mean, associates into your "Downline".
As far as I know the $125 is an administrative fee for paperwork. I used to be a member and have had success with obtaining loans. Primarily subprime loans for clients. The pay is not that great unless you recruit others to do loans and they recruit and so on.
You can find this information through your local Division Of Commerce, and/or the BBB
See http://mld.nv.gov/LicenseePendingHistory.asp?nLicNo=1074&nLicType=1
The mortgage industry is the most heavily regulated industry. Experienced professionals in our own industry have difficulty interpreting existing laws.
The pitch for NLC is that anyone can be in this business. People with no experience advising other people on how to make the largest purchase of their life are a scary prospect. Especially since their principle purpose is to build their "down line" organization. How can such people provide proper supervision to others?
World Lending Group is now Global Equity Lending. Ironically, National Lending Corp. (NLC) is owned by the same person who was associated with WLG.
"World Lending Group", the Amway of mortgage industry with a lot of negative behind them.
Investigate
See http://www.thecreativeinvestor.com/modules.php?op=modload&name=Forum&file=viewtopic&topic=33380&forum=12
Thank you all for the info. It's a great help.
I kinda thought that was the deal with them anyway. Just wanted to confirm. I won't bother wasting my time.
Thanks again
Cindy