LendingTree cares about your privacy and would like to alert you to possible fraudulent activity known as an “upfront fee scam.” In an upfront fee scam, a “lender” requires some sort of payment, often called “insurance”, before an application has been taken or processed. No legitimate lender does this.
If you receive calls, letters or emails from “lenders” who say that they are LendingTree or who tell you that they represent LendingTree, make sure you know the facts:
• LendingTree only matches customers with lenders on our network, including LendingTree Loans. You will be notified of lenders you are matched with either through emails from LendingTree or by a LendingTree Loan Specialist over the phone. Click here to review a full list of LendingTree lenders.
• LendingTree and our lenders will not ask you to pay any money for approving a loan, guaranteeing a loan or for “insuring” a loan.
• LendingTree and our lenders will not ask you to send a copy of your driver’s license or social security card before you have submitted an application with a loan officer. Please note: If you complete a loan request through LendingTree, you have not completed a loan application. You must do this with the lenders with whom you are matched.
• LendingTree and our lenders will never ask for your bank account information before you complete your loan application.
Legitimate lenders may ask for and charge an interest rate lock fee, application fee or appraisal fee once you begin working with a loan officer. LendingTree suggests that you use a credit card when paying any fee for your protection.
For additional information on this important issue, please see the FTC notice on Advance-Fee Loan Scams.