- Reddam also founded mortgage lending company DiTech, which was bought by GMAC
- Roughly 20% of of CashCall Customers have defaulted on their loans. This is not the default rate, as the company was only established in July 2003.
- So far, it has loaned $50 million to 7,000 customers. It must be much more now, as they recently doubled their office space.
- At the time of the article, the rates were not shown in neither the TV commercials nor the website. Reddam did say that CashCall did comply with consumer lending laws by disclosing the terms prior to a customer signing the lending agreement. This is a shady area that readers will need to make their opinion on themselves. It should be noted that their rates are now prominently displayed on their website, which is above what is required by the law.
Tuesday, June 26, 2007
The San Francisco Chronicle did an article on CashCall in September 2004. They were able to get an interview with Paul Reddam, the company's founder. Some interesting facts were revealed:
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