Absolute Mortgage Company, Incorporated

Review: I applied for refinance on 11/9/2012. I talked to [redacted] and he assured me that they will able to do the quick refinance. I submitted all paper works on or before time. Absolute Mortgage ordered Appraisal of my house. Absolute Mortgage Charged us $475 for the appraisal. After doing appraisal, I was hoping that they will close the loan pretty quick as they had all the paper works handy. I Keep asking them is there anything more they need. Continuously keep reminding them about my application. They hardly responded to my emails or calls. The lock expired. Then the mortgage rates went up. I lost my chance to refinance at lower rates.I would have saved $100 a month if they would have been diligent to act on it. Now they have totally stopped responding to any of my emails or calls. I am requesting them to refund me the appraisal fees. They screwed up all. I researched on internet about complaints of absolute mortgage. Seems like many has issues with this company. Now I believe, this company is total fraud. I am worrying about my personal information sent to this company also. After writing numerous emails about refund on Appraisal, they have not responded to single email. Please make aware of other consumer about this company. I lost much of savings in refinance and also lost so much of my time. Following is one ofsample emails I sent them.==========To: '[redacted]'Subject: FW: [redacted]Importance: HighHi [redacted],My name is [redacted]. I applied for refinance at your firm almost 2 months back.It has been very disappointed experience dealing with your firm. I understand you are the owner and president of this firm and hence I thought to also inform you about this.After 2 months, and after sending numerous emails phone calls, I hardly get any response from your loan officers.Finally, I send following email, but it was bounce back on your email id (got incorrect email id). Hence I am again sending it to you which details my frustration with your firDesired Settlement: They must refund me the appraisal fees they charged- $475.If they have some morality left, they should send me more for compensation of all the hassle and lost money, I would have saved otherwise.Thanks [redacted]

Business

Response:

[redacted] will be refunded his appraisal fee. We regret his inconvenience. He need not worry about the safety and security of his personal information. Our firm has been in business for over 14 years and we are in full compliance with the Gramm-Leach-Bliley Act.

Sincerely,

Review: Similar to others I now see who filed complaints, I committed to a mortgage refinancing through absolute mortgage back in November of 2012. Once I had agreed to the loan, I was unable to get any type of service or follow up. Only by my own diligence and continued contact with the firm was I able to learn that the individual assigned to my account left the firm. This went on form months which delayed my closing. Throughout the period of time between November and my closing in late January, I requested timelines and any deadlines from absolute. The remained vague and at one point responded with "asap" when I asked when the deadline was for my rate lock to expire. What I found out after closing, is my 2 1/4% credit for the rate was switched to 2% without my knowledge. This occurred because of the delay in service. Absolute never informed me of this and let the mortgage go through with a 2% credit. The 1/4% equates to $650 ($260,000 refinance).

It took me hours to determine why my closing amount was off and only by calling the actual loan originator ([redacted]) did I learn what absolute had done. I have since sent multiple emails to my contacts at Absolute mortgage including a copy to [redacted], Compliance Manager and [redacted]; President. Unfortunately, and in no surprise, they have not responded to any of my requests for further information and reimbursement. I intend to continue to follow up until reimbursement is made and am shocked that a company, with so many complaints that border on fraud, is able to stay in business. In addition to the $650 that was fraudulently adjusted on my refi, I am requesting, at minimum, 50% of the $2,903 loan origination fee that absolute mortgage charged me to be refunded as they provided no service whatsoever and have lacked any sort of acknowledgement of their wrong doings. Thank you and I have kept many documents that further support this issue and absolutes total lack of professionalism.Desired Settlement: A refund of the monies owed as well as a return of service fee along with a call or letter acknowledging the lack of service and the inappropriate adjustment to my loan.

Business

Response:

We sincerely apologize for [redacted]'s negative impressions of our company. Our goal is to provide our clients with excellent service and to build strong relationships. When that is not the outcome it is truly regrettable. The $650.00 [redacted] is referring to was a rate lock extension fee imposed by the wholesale lender to whom his file was submitted. Unfortunately the company that currently holds [redacted]'s second mortgage [redacted] ([redacted]) took 3 weeks to supply us with the necessary Subordination Agreement that we requested. This resulted in the need to extend his lock with the lender at a cost of $650.00. However, regardless of the specifics of [redacted]'s file, as the Broker in the transaction we do not pay the extension fees charged to the borrower by the lender. This is a written policy that is fully disclosed at the beginning of the process. It is first disclosed in the cover email that goes out with our initial disclosure documents. It is then given to the borrowers in written form for signatures of acknowledgment.

Review: I was in the process of completing a refi with Absolute Mortgage and the loan fell through due to delays on their side and the rate lock expired. They offered another loan with substantially higher fees. After filing a complaint in June with the Revdex.com, I was informed that I would be given a refund of my appraisal fee of $425. [redacted] informed me that the refund would take 30 days to process. I contacted Absolute Mortgage on July 9th about the status of my refund since it was not issued. Since the 9th I have called a handful of times talking with [redacted] twice, to check on the status of my refund. He has stated he will look into it. He fails to typically retuning phone calls when messages are left.Desired Settlement: I would like my refund issued prior to the first of August for the full amount of the appraisal as promised in the response to my last complaint.

Review: I applied for a mortgage refinancing online on absolute mortgage website. They promised 30 day lock and with $517 credit back with an interest rate of 2.75% for 15 years.

By law, Absolute mortgage is required to give HUD 3 days before closing date. My closing date was 31st May 2013. I never received my official HUD and despite sending them all the documents in time they keep asking me for more documents. Since Absolute mortgage did not provide HUD in proper time line they put me in spot by asking me to close in 24 hours on 31st May. They told me if I do not close in one day, I will lose my rate lock and would have to get higher interest rate lock.

They also charged me appraisal fee of $475 in advance even though it was supposed to be paid at the time of closing saying it is our company policy and is required by third party. At the end of Friday, they asked me to bring around $4000 to show that I have sufficient fund for closing. It was not mentioned in Good faith estimate. Good faith estimate did not have this amount to bring to table on closing.

They keep asking where are the funds even though the rate lock for no points, no closing costs and no money down. I was disappointed by their staff because they left for the day when I was working with them to provide enough funds.

Overall, I lost $9000 for 15 year mortgage because this refinancing did not happen.Desired Settlement: I am asking them to refund my appraisal fee because I would have received it back if they closed on time by providing me HUD three days in advance of closing date.

Business

Response:

**. [redacted]'s loan was approved and ready to go to settlement with one very standard underwriting stipulation: Document the source of his funds-to-close. Lenders require this to ensure that the funds a borrower is bringing to settlement were not borrowed from another source. It is not at all out of the ordinary. When our Closer requested this information, **. [redacted] refused to provide it. As a result his loan could not close.

Review: The company is a mortgage refinancing company, In Dec 2012 I submitted my application for re-finaning my home mortgage, during this process the company was represented by [redacted] who accepted my application and also asked me to pay 475.00 towards appraisal cost. I paid this amount thru my credit and the appraiser came to my house and appraised. After this I have not heard from Absolute Mortgage company for a long time, I was trying to get in touch with [redacted] and my calls and emails where ignored. During second week of Jan 2013 I get a call from [redacted] asking me to submit my signed loan application which apparently they sent to me via email, when I checked my email thoroughly it was in my Junk email folder. However, I immediately signed the application package consisting of 80 pages and email them to [redacted] after this I did not hear back from him for the next few days in spite of me trying to get hold of him via email and/or phone calls. After a few days I get a call from [redacted] and stated that I will have to pay $350.00 extra as my application is past 30 days, at that time I asked [redacted] to evaluate my application and see if there are better options for me, he said he will get back to me on this and never responded to me. I tried to get in touch with him for the next three weeks. Also, during this time I had approached a Title Insurance company (required for closing the re-fi) and [redacted] from Realty Guardian tried to contact [redacted] via email and phone. She also faced the same situation as mine, they never got back to her either.

Around 10th Feb 2012, since all my attempts failed, I approached Abosolute Mortgage again butthis time as a new customer as I have not been getting any response from them. I was shocked to know that [redacted] left the company and did not transition my file to any other person, my file was cancelled by Absolutely Mortage and no body neither notified me nor informed me about this. I had been even trying to get in touch with [redacted] (supervisor for [redacted]) but I am facing the same problem, none of my calls are being returned.Desired Settlement: I want Absolute Mortgage to pay back the expense I incurred toward Appraisal $475.00 and compensate for the time and effort incurred during this process

Business

Response:

We regret [redacted]'s negative experience with our company. [redacted] was terminated, in part, because of his poor client service. We have assigned [redacted]'s file to a senior Loan Officer for follow-up.

Review: This is in reference to my previous complaint number [redacted]. The previous complaint was closed, there was not action from the company which stated that "We regret [redacted]'s negative experience with our company. [redacted] was terminated, in part, because of his poor client service. We have assigned [redacted]'s file to a senior Loan Officer for follow-up. "

No body from the company contacted me or attempted to resolve the issue as of 24th April 2013.

Original Review:

The company is a mortgage refinancing company, In Dec 2012 I submitted my application for re-finaning my home mortgage, during this process the company was represented by [redacted] who accepted my application and also asked me to pay 475.00 towards appraisal cost. I paid this amount thru my credit and the appraiser came to my house and appraised. After this I have not heard from Absolute Mortgage company for a long time, I was trying to get in touch with [redacted] and my calls and emails where ignored. During second week of Jan 2013 I get a call from [redacted] asking me to submit my signed loan application which apparently they sent to me via email, when I checked my email thoroughly it was in my Junk email folder. However, I immediately signed the application package consisting of 80 pages and email them to [redacted] after this I did not hear back from him for the next few days in spite of me trying to get hold of him via email and/or phone calls. After a few days I get a call from [redacted] and stated that I will have to pay $350.00 extra as my application is past 30 days, at that time I asked [redacted] to evaluate my application and see if there are better options for me, he said he will get back to me on this and never responded to me. I tried to get in touch with him for the next three weeks. Also, during this time I had approached a Title Insurance company (required for closing the re-fi) and [redacted] from [redacted] tried to contact [redacted] via email and phone. She also faced the same situation as mine, they never got back to her either. Around 10th Feb 2012, since all my attempts failed, I approached Abosolute Mortgage again butthis time as a new customer as I have not been getting any response from them. I was shocked to know that [redacted] left the company and did not transition my file to any other person, my file was cancelled by Absolutely Mortage and no body neither notified me nor informed me about this. I had been even trying to get in touch with [redacted] (supervisor for [redacted]) but I am facing the same problem, none of my calls are being returned.Desired Settlement: I want Absolute Mortgage to pay back the expense I incurred toward Appraisal $475.00 and compensate for the time and effort incurred during this process

Business

Response:

Our sincerest apologies to [redacted]. We experienced a major communication break-down within our offices following [redacted]'s original complaint. Without getting in to all of the details, several members of our staff each thought the other was assigned to call [redacted]. We apologize for the inconvenience. But we assure all parties this was purely human error and not a disregard for [redacted]'s situation.

Review: On May 1, 2013 [redacted] Dr of Absolute Mortgage Co. agreed to lock in a 45 day mortgage rate of 2.5% for a 15 year mortgage. Documents from this conversation were never received so 6 subsequent phone calls were left with [redacted] of which none were returned. I finally received the loan processing department and was informed by [redacted] the loan was closed as inactive, probably because the processor assigned to the loan was let go. I explained my situation of interest and not sure why [redacted] was not calling back. [redacted] reopened the loan and said he could process the documents for me. I efaxed the documents [redacted] requested and followed up a few days later after not hearing anything. He said the efax was not received. Then I emailed the documents and he said they were to large to process. [redacted] had me download a Cute PDFwriter and had me than Scan all the documents via email to him. [redacted] and I spoke almost each day for around 2 weeks throughout this process. Then I received a phone call from [redacted] of Absolute Mortgage requesting documents again that I already sent to [redacted]. I immediately asked to speak with a supervisor and was given [redacted]. He informed me [redacted] would be my new loan processor and he would monitor the process from this point forward. I expressed my concern on closing on time and that 2 loan processors have been let go in the middle of my loan delaying the processing. He assured me he do what he can to make sure it closes as planned. Then I learn from [redacted] who hadn't spoken to me with exception of providing the original loan refinance opportunity of 2.5% and 15 years over the phone, that our loan did not close on time. He said he could begin a new process but rates were not the same. I appreciate the challenges of finding good employees and the tight deadlines that Absolute Mortgage must meet to close loans on time. I feel my husband and I did everything possible to try insure this would occur. I am worried that other people shopping for mortgages are not only wasting valuable time but, also $ since they collect a $475 Appraisal processing fee.Desired Settlement: I would like the company to refund our $475 appraisal fee charged to my Credit Card on May 17, 2013 by [redacted] of Absolute Mortgage (the processor apparently let go during our process). I would like the company to be reviewed to make sure they are not overselling work to online customers or phone customers that they cannot keep up with due to staffing.

Review: Absolute mortgage appears to have stopped processing our refinance. They have collected our appraisal fee and the appraisal has been conducted, since that they have stopped responding to my request for loan updates. I am starting to suspect that are not processing my loan as they stated they are.Desired Settlement: Complete my refinance as offered at the advertised rates and for the advertised cost in a timely fashion.

Business

Response:

We sincerely regret [redacted]s inconvenience and negative experience with our company. We will be refunding his appraisal fee within thirty days.