Madeline H.
This is a third party loan processor…
This is a third party loan processor that engages in fraud and predatory lending practices. Do not trust them at all. They tried to push a loan through that I don’t qualify for and that would have led me to foreclosure on my home. They refused to disclose who the lender was. They told me to fabricate documents to get the loan through. They promised that this loan would close in 15 days and that I was approved but continued to request documents that I informed them, I did not have. They also started requesting upfront payments from me, without much explanation as to why, other then it was to pay for documents. They prayed on the fact that I was in urgent need of a cash out refinance loan to complete a buyout of the joint owner on my home title to satisfy a court order. I paid $850.00 for an appraisal that they also refused to disclose to me and claimed that my home was worth $100k less than it is. I requested a formal withdrawal of my application with documentation that it was withdrawn, as it was not an appropriate loan program for me and I was not comfortable moving forward. Their response was a denial email, still without disclosure of the lender. They requested that I email photos of my SSI card as well.. they don’t use a secure portal. Everything is via email. They have multiple non verified phone numbers and no way to contact the actual company. DON’T USE THEM.
Response from Loanguys.comFeb 3, 2026
Thank you for sharing your concerns. We take allegations of this nature very seriously and want to address several statements for accuracy and clarity. First and foremost, Loanguys.com is a licensed mortgage lender — not a third-party loan processor. We originate loans directly and operate in compliance with all applicable state and federal lending regulations. At no time did anyone at Loanguys instruct you to fabricate documents. That would be strictly prohibited, unlawful, and grounds for immediate termination. We categorically deny this claim. Regarding loan approval and timing: any initial discussions or timelines provided are conditional estimates, subject to underwriting, verification of documentation, and third-party reports. Requests for additional documentation are a normal and required part of the underwriting process and do not indicate that a loan is “pushed through” or guaranteed. Appraisals are performed by independent, licensed third-party appraisal management companies. Loanguys does not set property values, influence outcomes, or profit from appraisal fees. All third-party fees, including the appraisal fee you referenced, were disclosed in advance and charged only with borrower authorization. We also want to clarify that Loanguys uses a secure borrower portal for document upload and communication. Sensitive documents are not required to be sent via unsecured methods, and borrowers are always guided to the secure portal for submission. Lender disclosure is provided in accordance with regulatory requirements and is issued once a loan proceeds past certain stages of underwriting. When you requested to stop the process, your file was formally withdrawn, which resulted in a denial notice reflecting the file’s final status. We strongly reject any implication of predatory or fraudulent behavior. Loanguys remains committed to ethical lending practices, transparency, and compliance. We encourage anyone with concerns to contact our management team directly so they can be reviewed thoroughly and appropriately.