I have a finely-tuned sleaze-o-meter that easily jumps past the redline.
One mortgage broker’s radio commercial sends my sleaze-o racing from word one. If you listen to WBBM-AM, you’re probably familiar with the opening line “Hi, I’m Jon Shibley, President of Lenox Financial Mortgage … ”
There’s something about the voice that sprung my meter into action even before I first heard the message: no closing cost mortgage refinancing. It grates particularly on WBBM, since I’m old enough to remember when the station, out of regard for its listeners and its own reputation, would refuse to run a pitch like this.
Shibley’s rant generally includes a few random slurs against his competitors: “We’re making plenty of money. We don’t need to stick it to you …” Tonight’s drive-time commercial backhanded real estate agents (and, some would say, taxi drivers by equating the two as a source of mortgage advice.)
Shibley’s closing (all quotes rendered from memory): “We’ve refinanced some guys five times. They’ve never paid a nickel in closing costs.” He’s asking suckers to believe that they don’t pay anything when they pay a higher interest rate, and bootstrapping on the name of a respected China line to gild the gull.
The Atlanta (Lenox’s headquarters) Better Business Bureau has a file on this group, and gives them an “unsatisfactory” rating for failing to respond to consumer complaints.
Legal disclaimer: nothing in this post suggests that Lenox is engaged in any form of “redlining” other than with regard to my sleaze-o-meter.
Mr. Zekas,
It is apparent that you do not care for our marketing approach. I invite you to actually do some fact based research on our company, product offerings, business practices, principles, and employees. Based on your opinion, you may be surprised as to what you find.
Conducting this research would have allowed you to realize that the Lenox companies conduct over 500 closings per month, and have been in business for over 10 years. If you do the math, that is alot of transactions. So if you had that knowledge you might have actually been impressed that over that course of time and through that many transactions we have had less than 10 people ever complain to the better business bureau.
Have you actually compared our interest rates, closing costs, and no closing cost programs to other competitors? Do you believe that attaining the lowest interest rate possible regardless of the cost to acquire that rate, and length of time needed to recoup those costs is always best? The reality is that most consumers do not know that they have a choice as to whether or not they pay any closing costs.
Have you spoken with any of our customers? You should speak to the customers that “we have refinanced five times and have never paid a nickel.” Ask them about their experiences, or is that unimportant? It seems that you think we are “sleazy” just because you say so.
If this is simply a forum to spread your opinion, than none of the research that I have invited you to conduct is needed. If that is the case, I would surmise that the opinion is worth the amount of research that was done to formulate it. If we have offended you, then I apologize. But, that apology has nothing to do with the quality and ethics of the company that we operate.
Dan Smith
I would have to respectively disagree with Mr. Zekas before mentioned comments. He must be a competitor, if there is such a thing. I have used Lenox National twice now and have never paid closing costs and have recieved, both times, the best rates I could find, and believe me,I shop.
I don’t know how they do it, they have “Great Rates”. I have re-financed several times over my life-time and have never recieved better service (even from my own bank). With Lenox I have never,never, paid closing costs. I have used several lenders over the years, including the biggest names in the business and have always had a problem with “what they promise” and “what the really deliver”. Lenox National has exceeded my expectations both times I have used them. Lenox National has, unlike the other brokers I have used in the past, introduced me to programs that the others either didn’t know about or intentionally withheld information about.
I had a very professional account represenative by the name of Brandy Hall who, even with all my complications and busy schedule, got me cleared to close in record time. I am glad I heard that radio ad. The guy on there was right, it is the “Biggest No-Brainer” in the history of the world.
I have referred everyone that i know to Lenox, well everyone that i care about anyways.
Fallon O’Brien
Pres/CEO
O’Brien Inc.
I recently have had the pleasure of working with Brandy Hall and the team over at Lenox. I have nothing but good things to say, as I was not the easiest to get approved and they found a decent rate and more importantly $0 cost to me. I too was a bit skeptical at first, but once Brandy gave me the options and there were a few, she walked through every step of it with me. I felt more and more comfortable with them. And they also were able to clean up my credit report at $0 cost to me. Now, I will be refinancing with them again this month and guess what??? It will be at a better rate and $0 cost to me. Have you noticed a trend? If not, let me help you along. Good rates, great people, and NO COST! I couldn’t be happier.
Thanks again Lenox,
JMD
Lennox has brokered three transactions for me and all have gone very well. Regarding your sleaze-o-meter, I found that their brokers make transaction costs much more transparent than competitors, making the shopping and final decision very easy. I hope you indeed follow up with the research Mr. Smith suggested. If your concerns amount to anything more than a knee-jerk reaction to Lennox’s radio spots, I’d be interested to read them. Like most people, I have a long list of ads I don’t care for, but is that really the point?
Warren Wolfe
WE HAVE WORKED WITH LENOX SEVERAL TIMES IN MANAGING OUR HOME MORTGAGE AND HAVE NOTHING BUT PRAISE FOR THE COMPANY AND THE REPRESENTATIVE WE WORKED WITH. WE WERE PROVIDED WITH THE INFORMATION WE NEEDED TO MAKE GOOD DECISIONS. WE PAID NO CLOSING COSTS AND ARE VERY SATISFIED WITH THE RATES. WE WILL CONTINUE TO MAKE REFERRALS TO LENOX AND FEEL STRONGLY THAT ADEQUATE RESEARCH BE DONE BEFORE PUBLISHING NEGATIVE COMMENTS ABOUT ANY COMPANY.
The first time I called I was as skeptical as anyone. But it never hurts to call so I did. I was lucky enough to reach Cole Borton and have closed three deals with him. I HAVE NEVER PAID CLOSING COSTS. If you don’t believe me, send me an email and I will show you my settlement statements. It is so refreshing to work with someone who is honest, upfront and good at what he does. I have referred several friends to him and he treated them equally well. In a profession full of liars and cheats, point your sleaze-o-meter where it belongs. Not at the only honest group in the bunch. Bret Roller
Lenox is the only mortgage broker with which I will work. They not only got me a good rate, but I will be refinancing soon to get an even better rate. Perhaps, you, Mr Zekas, should try Lenox. You might be lucky enough to save some money, lots of it.
The first time I called Lenox, I too was skeptical. But it turned out to be the best thing I did. I received great service, got a great rate, and for the most part everything went smoothly.
However, this time I started the refinance process last February and finally had to pull the plug today. The broker I was dealing with was the most unprofessional person I have ever had the displeasure to work with. His actions have caused me to either pay a higher rate or closing costs. I tried to get a different rep during the process, but was told I could not switch.
I am in another state, so if the brokers are assigned by territory, I am sorry to not have been able to work with Brandy. She seems to be like the first person I worked with
On Mr. Zekas’ defense, I have not had any success in reaching the company for a resolution on my particular issues. I will have to agree with the “Unsatisfactory” rating with problem resolution.
But, pertaining to his “Sleaze-O-Meter” on Jon, that’s another matter. Jon himself seems to be quite the humanitarian. I hope he finds more people like Brandy to work for him. As long as the guy I had to deal with is there, I can’t in good faith refer anyone in my area to Lenox.
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