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Liberty One Lending - Agency, FHA/VA - Retail & Net Branch

2009-01-05

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We had been alerted of a possible bankruptcy since early December. Today Liberty One Lending announced it was ceasing all operations. There has been no bankruptcy filing as yet per public records. From the email put out by CEO Matthew D. Goddard:

"Effective immediately, Liberty One is ceasing all operations. You will be allowed to close out any loans that you may be actively working on until January 31st."

The office phones are no longer working, and the web site has already been taken down (view cached). The cell phone for Goddard appears to be disconnected.

Liberty One Lending was based in Goodyear, AZ and was licensed to do business in all 50 states. A branch manager we spoke with indicated there were as many as 1,300 Loan Officers operating from net branches in 37 states at one point. Volume info was not readily available.

Details are still forthcoming, so stay tuned as we will continue to update this listing. Contact us if you can help fill in the blanks.

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Comments:

aim001 at 19:22 2009-01-05 said:

I worked from CA for a branch we are still waiting on checks Permalink

nogold4u at 22:36 2009-01-07 said:

The company hasn't paid any loan officers for December fundings from what I'm hearing. Why would anyone go forward with their loans with them?

"...you will be allowed to close out any loans that you may be actively working on until January 31st..." Permalink

ocean123 at 03:55 2009-01-08 said:

i closed 3 loans in late december i never get paid on them, and unfortunatley i had no choice but to order docs on three more because i have no time to swich them over. Is there any way to sue them for the money ? Permalink

nogold4u at 10:09 2009-01-08 said:

I would check with your title company and see what they suggest. Maybe they can hold the funds until someone arranges a legal solution??? Permalink

keldawg at 20:19 2009-01-09 said:

If you have a loan and it is about to fund, see if you can submit a demand for what you are due. This should at least slow things down, if you are lucky they won't send the check. Also, the Liberty One checking account with M & I Marshall is basically empty. If your loan funds and the funds are sent to Liberty One then chances are you he will run off with it also. Permalink

keldawg at 20:24 2009-01-09 said:

Like everyone else, I haven't been paid either. In fact, I was personally told that I could pick up my check. I sent a courier 3 times and the HE was a no show at the office. When the courier asked for names he was given bogus names. I wouldn't fund anything if you expect to get paid from it. Permalink

sam_lender at 23:33 2009-01-09 said:

I also got swindled in on Pat Tuttles smooth talking. they took me for 7 loans! wonder were he is hiding. probably out conning other loan officers out of their money with another group! Stay Away From Anything Pat Tuttles Is Involved In! Permalink

markkistner at 18:59 2009-01-11 said:

THE FACT THE MATT GODDARD LED EVERYONE ON AND CONTINUED TO DO SO WITH FICTICIOUS LIES ABOUT FLOODING. I AM OWED $7000 AND I PROMISE I WILL COLLECT IT ONE WAY OR ANOTHER. MATT WATCH YOUR BACK Permalink

markkistner at 19:02 2009-01-11 said:

I SPOKE WITH TRESA TODAY AND SAID THEY MOVED THE OFFICE TEN FEET AND WHICH ALSO MEANS THE WIFE AND KIDS ALL ARE STILL PRESENT IN THE AREA. YOU WOULD THINK SCREWING THIS MANY PEOPLE HE WOULD HAVE LEFT THE COUNTRY. Permalink

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Important: This company is on our list of lending operations that have "imploded". However, please note that "imploded" is a somewhat subjective and does not necessarily mean operations are ceased permanently: it can mean bankruptcy filing, temporary but open-ended halting of major operations, or "firesale" acquisition. All information here is provisional, and may contain inaccuracies (especially newer information). If you are planning on doing business with this company or any other one listed on this site, you should inquire with them directly on whether they can still meet your needs. Many are still operating in some capacity.