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What is Zillow's responsibility for having fraudulent lenders listed?

Went through Zillow for a refinance. Chose First Financial Services, Inc. because of their rates and their reviews here. Everything started great. then nothing. When I tried to contact them and the loan agent every phone number they provided did not work and they stopped responding to calls. Found out they don't even have a valid license to operate in California.   Nice Zillow 
  • September 11 2012 - Concord
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Answers (6)

When I tried to contact them and the loan agent every phone number they provided did not work and they stopped responding to calls.

That does not make sense... even to me. How could they respond to calls that never made it to them (because the phone did not work)?

So I contacted the California Dept of Corporations. Gave them the NMLS number and the person there said they weren't licensed.

First Financial may not be a reliable lender, but the Dept of Corporations could care less about anything that has to do with NMLS.
  • September 12 2012
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Zillow does screen lenders and checks their licenses, but it's always a good idea to do some checking yourself.  After all, you're sending your whole financial life to the lender, not Zillow. 

  • September 12 2012
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You can check the  Status of a Lender and/or Loan Officer at: http://www.nmlsconsumeraccess.org/ 
  • September 11 2012
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After I found that all their numbers didn't work (including 800 #s and all of the local office numbers), and hadn't been for a couple days, I was more than a little concerned with the prospect of all of my personal and financial information being in the hands of a flaky company. So I contacted the California Dept of Corporations. Gave them the NMLS number and the person there said they weren't licensed. Which raised more red flags and hence the posting of the question.. After I posted the question, the State called back and essentially said oops, we gave you the wrong information, they are licensed. So we shall see if they communicate and the loan closes without more hitches
  • September 11 2012
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Dear user708358,

Thank you for your post and addressing your concern.  In order for lenders to be confirmed lender on our site we validate all of their licensing information with the NMLS.  According to the NMLS they have an active license in the state of California.  I recommend that you write a review about your experience.  If you have any other questions or concerns about this matter feel free to contact me via my profile.

Thanks!

  • September 11 2012
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Zillow is not really responsible what states lenders are licensed in. 
  • September 11 2012
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