Consumer Fraud Alert: Many Fraudulent Online Mortgage Quote Systems Rampant in the U.S.

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HelloLender.com a unique mortgage quote network launches a consumer awareness campaign about the dangers of filling out an online mortgage quote form and the fraud that surrounds the competitive mortgage industry.

Before you go and fill out any form on the Internet that captures your financial or personal information you should think about whom it is going to, and research the company first. It is a scary thought that so many people get your information from one quote form. Consumers need to be aware of this issue and be alerted about this serious flaw in the mortgage quote process.

HelloLender.com a mortgage quote network which uses a vast network of toll free numbers to connect mortgage loan prospects and homeowners with licensed mortgage professionals in their area has launched a massive consumer awareness campaign to inform online rate shopper of the risks when filling out an online mortgage quote form.

Financial Media Group LLC owns HelloLender.com, the company founders are retired mortgage brokers and online marketers. Being in the mortgage industry for so long the company knows all the ins and outs of how your information is used when you fill out an online quote form. After months of research the company has developed a way to connect lenders and loan shoppers without safety risks and the threat of fraud.

When a loan shopper goes online and searches for a home loan or answers an email solicitation about home loans they are putting their financial and private information in front if dozens of strangers, many of them after one thing “MONEY”. Many times when a consumer fills out an online quote form this information is sent to a mortgage lead distributor like eleadz.com who then sells your information 3-4 times to anyone who buys it. If you are one of the lucky online shoppers it will stop there. It seldom does. After filling out one solitary online quote form on august 1st 2006th, HelloLenders market research department has received over 62 calls from 62 different mortgage companies trying to sell them a loan.

The form they filled out online said up to 3 free quotes and no obligation. When asked where the caller obtained their phone number they all said something dissimilar for the most part. Some bought it online from mortgage lead websites others claimed to be returning a phone call, some said they got an email, some say they got a voice message. That is all from one online form being filled out. So, not only do 62 different “shadowy” mortgage firms have all of the spurious financial data that was submitted, it is still out there in circulation.

When the form was filled out Aug. 1st a “seed” email addressed used only in that form submission. To date there have been over 500 unsolicited emails sent to the free 1 gig Yahoo! Web based email box provide by Yahoo.com for our research. Yahoo! Does offer free anti-spam utilities for its members, we simply had this feature turned off so we could see who was getting our information. The email subject matter ranged from adult sex toys, security systems, mortgage news, online dating sites, investment and MLM schemes, and political emails.

HelloLender.com wants consumers to be aware of what is being done with their personal financial data online. It is not secure to fill out online mortgage quotes without talking with a lender first, if possible one licensed in your state. Even if a website has a security certificate which encrypts your data when it is being sent over the internet to them, it does not mean that they will not vend out your data over and over again.

“HelloLender’s entire network is comprised of licensed loan officers that do very well without online quote forms. All business is conducted by phone and it is safe,” says Scott Ferguson, CEO HelloLender ™.

Timmy Wheeler. an Employee of HelloLender™, stated: “Before you go and fill out any form on the Internet that captures your financial or personal information you should think about whom it is going to, and research the company first. It is a scary thought that so many people get your information from one quote form. Consumers need to be aware of this issue and be alerted about this serious flaw in the mortgage quote process.”

For more information on HelloLender.com and the secure mortgage quote network they offer visit them online.

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Scott Ferguson
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