LendEthics
gives the consumer faith and trust when it comes
to dealing with Approved Loan Professionals (referred
to herein as “Lending Professionals”).
LendEthics gives each Lending Professional who
has spent the time and money necessary to obtain
a good reputation in their respective industry
the ability to reach consumers through LendEthics’ website.
In
order to become a Lending Professional on LendEthics’ website,
the Lending Professional must:
|
| 1. |
Be certified under a certification program or company
that is recognized or approved by LendEthics (a “Certification
Program”); |
| 2. |
Have current and active licenses in all states
in which it intends to execute lending arrangements; |
| 3. |
Agree to a background check; and |
| 4. |
Agree to the terms and conditions set forth in
this Zero Tolerance Policy (this “Policy”). |
| |
| By signing
this Policy you hereby agree to: |
| 1. |
Keep current with any and all continuing education
requirements set forth by each state in which you
execute lending arrangements and the Certification
Program; |
| 2. |
On-going background checks; |
| 3. |
Keep your licenses and certifications current and
without negative marks; |
| 4. |
Keep the contact information you provide to LendEthics
current at all times; and |
| |
THE PURPOSE OF THIS
ZERO TOLERANCE POLICY IS TO HOLD EACH LENDING PROFESSIONAL
ACCOUNTABLE FOR THEIR ACTIONS.
If you do not follow
this Policy, you may be removed or temporarily
suspended from the LendEthics network, at the sole
and absolute discretion of LendEthics.
LendEthics
has implemented a rating and review system that
allows consumers to provide feedback on Lending
Professionals. This means that LendEthics and consumers
will be able to monitor the practices of each Lending
Professional, based on the consumer’s
satisfaction with the loan process.
LendEthics has
the right to terminate its business relationship
with any Lending Professional, at any time, with
or without cause. Examples of practices that are
strictly prohibited include, but are not limited
to, the following:
|
| 1. |
Bait-and-switch tactics; |
| 2. |
Failure to disclose loan terms (e.g. pre-payment
penalties); and |
| 3. |
Gifting, selling, or trading LendEthics leads to
any other person. |
| In addition, revocation
of any one of your state licenses or your certification
from the Certification Program will result in a suspension
of your membership with LendEthics, until the matter
has been rectified. |
