Loan Ranger Capital is a mortgage lender based in Austin, Texas. Its address is 1515 S Capital of Texas Hwy Suite 306, Austin, TX 78746, US and their contact number is 512-220-9916.
They offer fix, flip, and new construction loans and claim to be easy to work with. However, keep in mind that Loan Ranger Capital is not affiliated with Loan Ranger, a Philippines based online app that helps people get loans.
The founder of this firm is Zack Lofton and he is the reason why I wrote this review.
Finding the right mortgage lender is difficult as it is. But when you have suspicious companies in the mix, the process becomes more challenging as many of those organizations would want to manipulate you into working with them.
Let me say that I’m not saying Loan Ranger Capital is a scam. There is currently no evidence that says it’s a fraudulent organization. Still, the problem in this company is its leadership:
Zack Lofton: Questionable Leadership and Lack of Commitment
Zack Lofton is the founder and CEO of Loan Ranger Capital. He runs this company with Nik Petrik the COO.
Being the founder of a mortgage lending firm, Zack doesn’t have significant experience in the lending industry. He graduated 9 years ago from the University of Arizona and became a financial analyst at Wells Fargo. Zack worked there for 2 years and then quit.
Then, he started working as the Chief Financial Officer at Capital Fund I and worked there for one and a half years. After that, he launched Loan Ranger Capital in 2015 and has been running it since.
You notice a pattern here?
The CEO of this firm couldn’t keep a job for more than 2 years and is now running a mortgage lending firm that serves builders, real estate investors, and flippers.
What Exactly Is Mortgage Fraud?
When people knowingly give inaccurate or misleading information to obtain a mortgage loan, this includes both borrowers and mortgage lenders. The goal of this dishonest behavior is to sway the judgment of mortgage testers or lenders, who depend on correct details to approve, fund, buy, or insure financing for mortgages. Mortgage crime can take many different forms and involves dishonest behavior that can have major repercussions on the real estate and finance industries.
Certainly, there’s an issue in the leadership of this firm and I don’t think it is fixed. You should give this company a couple more years before trusting them with your financial future.
Better Be Safe Than Sorry
This company is based in Austin, Texas, which is home to numerous mortgage lenders. You should look for a more reliable option that has experience in real estate lending. I thought it was important to share this information because as a consumer, you should know the truth about the companies you do business with.
Obviously, Loan Ranger Capital wouldn’t want you to know about the commitment issues its founder has nor the fact that the CEO doesn’t have much experience in real estate lending.
The quality of leadership matters a lot because it affects the overall growth and reliability of a firm. For example, JFQ Lending’s CEO had a terrible past involving sexual harassment and substance abuse. It has also affected how he runs his company and many of its employees report that the place runs like a frat party. There is rampant sexism and the clients also suffer.
Look for a better company and stay safe.
Loan Ranger Capital doesn’t have a lot of issues but that’s because it’s a novice company. There’s nothing prominent about them except the fact that their leadership lacks the skills and experience necessary to run a lending firm.
- Hide information
- Inexperienced leadership
- Too risky