An Angel To Watch Over You - and your mortgage.

It`s a new website and consumer service
designed to help borrowers nationwide get information about
their mortgage terms, protect them from choosing unsuitable
mortgage loans and prevent them from falling prey to predatory
lending practices. OfferAngel.com is a free open-access site
with a service accessible both to borrowers and loan originators.

OfferAngel.com`s initial research showed many of today’s high
foreclosures and predatory lending was a result of a much larger
issue; most borrowers do not understand the complexities of a
mortgage loan. The Center for Responsible Lending estimates that
U.S. borrowers lose at least $9.1 billion annually to predatory
lending practices. Industry insiders like Ken Logan, executive
vice president of NovaStar Capital, acknowledge that borrowers
might not understand the terms of their potential loans. "Few
borrowers fully understand their residential transaction or the
disclosures," he said. "The mortgage loan is an inherently
complex transaction." The Chairman of the Federal Reserve Board,
Ben S. Bernanke recently stated, "One of the challenges of
creating effective disclosures is presenting information so that
it is as accessible and understandable as possible."

The OfferAngel.com Mortgage Report: With OfferAngel.com’s online
system, mortgage lenders are required to use an online mortgage
offer form detailing the terms of their mortgage loans that may
not be found in federal disclosures. This information is used to
create a free Side-by-Side Mortgage Report for the borrower.
This report provides an unbiased comparison of the mortgage
loans and their terms, so borrowers have a clear understanding
of the various offers and are not lured into unsuitable mortgage
loans. By simplifying the information the borrower receives from
lenders, the borrower is less likely to choose a loan solely on
interest rate. Over the last few years many borrowers took
adjustable rate mortgage with the lowest rate without
understanding the risks. The OfferAngel.com Mortgage Report
makes it easy for the borrower to see the big picture so they do
not get stuck in a loan with terms that may cause them financial
di! fficulties down the road.

OfferAngel.com makes complex mortgage terms that are not found
in federal disclosures easy-to-understand. In addition to
simplifying the terms, the borrower can have an OfferAngel.com
analyst review the offers selected by the borrower to create a
Personalized Mortgage Report. This report not only alerts the
borrower to potentially unsuitable mortgage terms but also helps
educate the borrower on why the various mortgage offers may
differ from each other. The OfferAngel.com analyst can review up
to four offers and comments on more than 100 different loan
terms making sure they are compatible with the goals of the
borrower and in line with market conditions. The Personalized
Mortgage Report can be purchased for $24.95.

The initial concept for OfferAngel.com came about when
co-founder Meg Burns, a former mortgage professional, recognized
that borrowers who shopped around to find the best mortgage loan
were often falling prey to deceptive sales tactics. "It was
frustrating to see hardworking people duped into unsuitable
mortgages because a loan officer wanted to make a big
commission," says Burns. "Most borrowers are not comparing
apples-to-apples when shopping with several lenders because they
do not know what questions to ask and get overwhelmed with the
complexities of the industry, leaving them at a disadvantage
with the lender. We knew that if we wanted to drive industry
change, it would require a large scale solution," she says.

Many industry experts agree that mortgage lenders are not solely
responsible for the mortgage meltdown. In finding the solution,
OfferAngel.com knew it had to resolve the lack of consumer
knowledge, high-pressure sales tactics and inadequate federal
disclosures in order to present a market solution. "We came to
the conclusion that if we built an online service that addressed
all of these problems, we could turn the balance in favor of the
borrower," says co-founder Jason Kaufman.

Borrowers who get their mortgage offers through OfferAngel.com
are empowered because the influence of the sales pitch is
diminished. The borrower gets the details he or she needs to
make an informed decision without any high-pressure sales
tactics. Borrowers are also able to rest easy because
OfferAngel.com is not easily manipulated by a loan officer.
Unlike the federal disclosures or a sales pitch, OfferAngel.com
is able to use feedback from customers to prevent deceptive loan
officers from submitting mortgage offers through their system.
"Before OfferAngel.com, borrowers wouldn’t know if the lender
they were applying with had multiple complaints. Being online,
we can use technology and customer feedback to prevent deceptive
lenders from interacting with borrowers. Loan officers are less
likely to use bait-and-switch tactics with a borrower on our
site because we will ban them to protect future borrowers," said
Burns.

What Sets OfferAngel Apart?

· Open access system - any borrower
and loan officer in the nation can use the site for free. No
other site offers this.
· OfferAngel gathers information from
lenders/brokers that is not being provided to the borrower
through federal home loan disclosures.
· OfferAngel gathers loan
terms on behalf of the borrower through an automated process and
presents the terms in an easy-to-read format for free. Other
sites will give quotes w/interest rate and payments. The loan
terms OfferAngel gives the borrower are based on the loan a
borrower actually qualifies for based on a completed mortgage
application/credit bureau.
· OfferAngel does not advertise rates/fees.
· OfferAngel is independent from lenders/brokers.
They do not originate loans, companies like Lending Tree also
sell mortgages
· OfferAngel never sells or shares information of its users.
· OfferAngel can forewarn the borrower to ! specific
terms that may be dangerous to their financial goals. Their
automated system gathers information that is not being disclosed
with federal disclosures so borrowers can begin to effectively
compare loans.
· OfferAngel is independent of mortgage
companies/brokers. They get terms about loans that the federal
government does not require lenders to disclose. They get the
information they need so they can be effective when comparing
loans.
· The OfferAngel online system makes it easier to compare
loan options because the borrower doesn’t have to rely on a
verbal sales pitch from a loan officer or read through the over
20 pages of federal disclosures which lack many important loan
terms.
· OfferAngel forewarns borrowers to terms that maybe
dangerous to their financial goals, potentially saving them
thousands of dollars.
· OfferAngel provides easy-to-understand
explanations of loan terms so the borrower doesn’t ha! ve to look
all over the Internet to understand the complex mortgage jargon.
· OfferAngel can use its online technology to prevent loan
originators that use deceptive sales tactics from interacting
with its customers. Currently, there is no system in place that
bans originators from selling loans to a borrower based on bad
business practices.
· OfferAngel is FREE.

OfferAngel.com is available to borrowers and lenders nationwide.

For more information go to www.OfferAngel.com

To arrange interviews contact Spread The News PR - (785)
842-8909 / todd@spreadthenewspr.com

Todd Brabender - Spread The News PR, Inc. (785) 842-8909 /
todd@spreadthenewspr.com

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OfferAngel.com by Todd Brabender, Scottsdale-AZ