If you plan to purchase an investment property, your first home or even a second vacation home, finding the right mortgage partner can be a daunting task. With the rise of online research and sites such as LendingTree.com, mortgages are now provided across state lines to thousands of private mortgage companies in the United States. No longer do you have to rely on the rates available in your own locale. However, with thousands of lenders available, accurate information on these companies is important. Here is a review of Mortgage Lenders of America.

Who They Are

Although the private mortgage lender Mortgage Lenders of America (MLOA) was not listed as a top 100 mortgage servicer in the most recent report for Q3 2014 from Mortgagestates.com, the company is recognized as one of the fastest 5,000 growing companies in the United States. It has provided funding for over 25,000 since its founding in 2000. With over 175 employees and a recent acquisition of a newly purchased headquarters in Kansas City, Kansas, the company is growing while still providing quality service.

Part of this great service is due to the company’s president, Philip Kneibert, recognizing the need for important customer relationship management (CRM) software upgrades. Not only did the implementation result in increased sales that paid for the investment within months, it also provided a system to ensure customers are tracked and followed through the entire process. The company is authorized to fund mortgages in 34 U.S. States, mostly located in the west, central and southern states.

Mortgage Products Offered

The company offers a wide range of mortgage products for primary residences, second homes and investment properties. It offers popular government-backed loans through the Federal Housing Administration (FHA), Veteran Affairs (VA) and the U.S. Department of Agriculture (USDA). The company also offers conventional and refinance home loans, but does not offer conforming loans from the Federal National Mortgage Association (OTC: FNMA) or the Federal Home Loan Mortgage Corp. (OTC: FMCC), otherwise known as Fannie Mae or Freddie Mac.

USDA and VA loan options do not require a down payment, whereas conventional and FHA loans require a minimum 3 or 3.5% down payment, respectively. Credit scores required for these loan products start at a minimum 620 for VA and FHA loans, and 640 for USDA and conventional loans.

Mortgage Rates

Like most private mortgage companies, MLOA does not post public notices of its mortgage interest rates. These rates are available with little effort after you fill out an online application or an online pre-approval form with the company. You can also call the company and speak with a loan officer to access the current interest rates.

What Consumers Are Saying

Overall, MLOA has received positive online reviews. LendingTree.com has over 600 reviews of the company, in which 90% of the reviewers said they were likely to recommend the company. This overwhelming recommendation rating has resulted in the company receiving the #1 Purchase Lender distinction from LendingTree for three out of the last four years. Additionally, MLOA received an A+, the highest rating, from the Better Business Bureau (BBB), with only 14 total complaints over the last three years, all of which were resolved.

If you are searching for a lending company that provides a positive customer experience, and especially if you are located in the Kansas City area, MLOA may be the right home loan lender for you. However, if you are looking for a lender to offer Fannie Mae- or Freddie Mac-conforming loans, you will have to look elsewhere, since MLOA does not offer them.

Roundpoint Mortgage Overview

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