Loans4Less.com (LFLS)

[QualityStocks]

LFLS Knows the Value of Reputation

A reputation takes a long time to build, but carries more behind-the-scenes influence than anything else. In this world of high-speed global communications and social networking, reputation is very quick to carry. Word gets around about good service and bad service, and the anonymity of the web encourages users to speak their minds, even to the point of exaggeration. In addition, if your interface with the public is primarily online, the importance of reputation is even greater, since the consumer isn’t able to look anyone in the eye and develop a personal relationship. With all of the talk about facilitating communication, the web has more often been called cold and impersonal, making it difficult for industries that used to depend upon trust and a handshake.

Loans4Less, a web-based mortgage broker, focused largely on the California residential marketplace, has recognized this critical fact from the beginning, to the point that the company has based its entire philosophy on transparency and up-front reliable data, with none of the hidden fees and other ugly surprises that consumers have come to expect from much of the mortgage industry. Although they are quick to display their hard-earned official credentials, such as an A+ TrustLink Rating from the Better Business Bureau and an Internet Consumer Group award for being in the top 10% nationally for consumer satisfaction, their real strength is the undercurrent of positive response from users. It’s this informal word that carries the weight.

The company’s website, in addition to a comprehensive range of straight-forward data on interest rates, points, and market conditions, also links to a full-page company commitment statement, stating very clearly that they do not quote rates and/or points that are not deliverable. They do not practice inducement tactics such as posting unrealistic quotes. Nor do they sell or pass on a prospect’s confidential information to any third party and do not order a credit profile reports without a prospect’s prior permission.

In short, the company knows what’s really important to online consumers, and has made it a foundational part of their strategic growth plan.