Advisors Mortgage Group

I highly recommend this to be the last place you go for a mortgage Theses people at the Lake Hopatcong office gave us a pre-approval on a property for 100K more than we needed We spent weeks chasing information Was given a commitment letter At the 11th hour days before the closing we were told the mortgage was denied due to a default We understand the default and how it works, what we are angry about is the inability for them to see this early enough in the process to make sound financial decisions for ourselves They led us down a path that could cost us $20K in earnest money lost and they take no responsibility Do yourself a favor and avoid this office One of the worst experiences we have every had and this place lacks integrity

I highly recommend this to be the last place you go for a mortgage. Theses people at the Lake Hopatcong office gave us a pre-approval on a property for 100K more than we needed. We spent 6 weeks chasing information. Was given a commitment letter. At the 11th hour 3 days before the closing we were told the mortgage was denied due to a default. We understand the default and how it works, what we are angry about is the inability for them to see this early enough in the process to make sound financial decisions for ourselves. They led us down a path that could cost us $20K in earnest money lost and they take no responsibility. Do yourself a favor and avoid this office. One of the worst experiences we have every had and this place lacks integrity.

Review: I first contacted [redacted] of Advisors Mortgage in early April to refinance my property at [redacted] in Hunter, NY.I had known [redacted] from his prior days at [redacted] and saw the Better Business seal on the Advisors website - so I thought they were safe to use for this service. By April 15th I was approved by Advisors and they were to email me disclosures to sign and return. [redacted] explained that it would be an easy process and save money to complete a CEMA in order to save the cost of mortgage registration tax in NY. Advisors charged me an origination fee of $380 on 4/27/13. [redacted] quoted a mortgage rate of 3.625% & advised my rate lock expired July 20th, which he assured me would be plenty of time to process the docs. I contacted [redacted] by email April 24 asking for an update as I had still not seen the docs - docs arrived May 06, 2013 which I signed and returned promptly along with checks totalling $850 - $700 for [redacted] to process the CEMA and $150 to a law firm to handle the CEMA. I was now out of pocket $1230.

I did not hear from Advisors again until I sent an email chaser June 4 asking for an update - [redacted] replied June 7 saying he heard back from title company and the bank was working on CEMA docs. I replied to [redacted] on June 7 asking if we were still good on rate etc and he promptly replied Yes in email. Then radio silence - I did not hear from Advisors again until after repeated attempts to reach [redacted] - he replied to my email dated July 15th pleading for an update.[redacted] replied that he just received the cEMA docs today (July 15th) and that he would have the file completed for closing and would contact me if anything was needed. That was the last time I heard from [redacted].

I called and emailed both [redacted] and [redacted] his loan processor and got no replies. Emails were sent in July and August to no avail. I called their Corporate headquarters spoke to [redacted] and [redacted] who assured me they would revert with a plan - still waiting.Desired Settlement: I would like Advisors to honor the rate they quoted and finish my refinancing. I could have contracted with multiple mortgage company in April and had my process completed to my satisfaction, but I chose Advisors.I was aware that Treasury Bonds and Mortgage Rates were at their lows in early 2013 and I wanted to capitalize on that. Now rates have moved by over 1.5% against me and it doesn't make sense to refinance at current rates. I am out of pocket over $1100 and 1.5% over 30 years.

The customer service I received was terrible and there was no sense of urgency, follow up, or common deceny to respond to phone calls or emails. At the very least Advisors should be forced to remove the Better Business Seal on their website as the service I received is certainly not indicative of a Better Business.

Business

Response:

Mr. [redacted] did apply for a refinance on his second home with Advisors Mortgage Group in April of 2013 which we processed. The loan required a CEMA to be completed as it was a NY property and a CEMA would save him a considerable amount of money. The work was completed by a third party attorney but took longer than expected. Attempts were made to contact Mr. [redacted] but we did not receive any response and the file was cancelled.

We do take this complaint very seriously and would like to help Mr. [redacted] find a resolution by either closeing his refinance or we can refund his out of pocket expenses out of good faith although these fees were paid to a third party and were not retained by Advisors Mortgage.

I called Mr. [redacted] on Thursday, October 24th and left him a message at ###-###-#### and as well called him today, Tuesday October 29th at ###-###-#### and left a message. I have not heard back from Mr. [redacted] as of this response.

Mr. [redacted] can reach me at ###-###-#### to further discuss his options and hopefully come to a resolution to his concerns.

Thank you

Review: I am a Navy Veteran, DoD Civilian and an active drilling Reservist for the Army. I reached out to Advisor's Mortgage Group due to a referral by an associate. I began the VA loan request process. I've provided every document required for pre-approval. I contracted on a short sale in April 2014 and was finally able to go forward in January 2015. I have never utilized my VA benefit before. However my credit report does show a previous home. I informed the Rep that my husband at that time utilized his benefit since we were both Service Members we both are guaranteed our own separate VA Home Loan benefit. The Advisor underwriters claimed I needed to provide a copy of the divorce decree to sort this matter out. I have over 14 years of experience in HR. I know policies, regulations, SOPs and so forth and if I don't know I can find out. I called the NJ VA division which is the VA Regional Loan a Processing Center based out of Cleveland, OH. They informed me what I already new. There is no case open past or present where I've utilized a VA loan. They said had the potential mortgage lender call them because they are misinformed on the proper procedure. A call I shouldn't have had to make. My COE reads first time user as clear as day. I expressed my frustration with my Rep and gave him 72 hrs to resolve this and provide a closing date. The next day he claims I have to provide a divorce decree as part of the conditions. I demanded to know why. He had not responded. Again I did my research. I provided my pay stubs (LES), W2s and bank statements. I dough financing based off of my salary. I make more than enough via salary. My pay stubs do not show any garnishments, my bank accounts donor show any payments other than bills and personal use of funds. Alimony is not paid out nor received. Yet again I must combat the subpar performance at Advisor's. A divorce decree dissolves a marriage. A custody agreement via the court establishes who the custodial parent is. There is a difference.Desired Settlement: I'd like Advisor's to drop the divorce decree request. My credit shows no active joint or otherwise dealings with that ex husband. Continue the process loan processing based off of my salary and produce a closing date ASAP.

Business

Response:

Hello,This is the first correspondence I have had with [redacted] which is surprising as we always resolve any concerns from our borrowers as quickly as possible. I called immediately upon receipt and left a message so that we can help to clarify her needs and see if we can rectify her concerns. Please have her call me direct at [redacted]Vice President

Review: We applied for a mortgage with this company in April 2015. We furnished every single piece of information they requested. We dealt with a person his name was Troy. He assured us in May that the application looks perfect & all is well. We then tried calling him for weeks & weeks with no response. We waited patiently for a response, but all calls fell on deaf ears. We finally had to call the corporate office, then finally someone called me back, again, they told us all was going well we should be closing soon. Then we go into June, still no closing date, still no communication from this company nor its agents. Again we call corporate & a person named Larry calls us back, gives us this whole foolish story that someone dropped the ball on the application, they couldn't get us a FHA loan, we had to put up more money, just total contradiction from which we were lead to believe for almost 2/1/2 months. Now were in June & the seller now wants to put the house back on the market & we lose the sale. This company was responsible for the lose of our home. They had 2 1/2 months to get this done, at which it never was. They charged me for 2 appraisals that we have not received a refund from. One of which was NOT done at all. Then finally we had no alternative to find another lender, which has now got us a closing date on our new house & it took less than 3 weeks to complete. Why did Advisors Mortgage Group take almost 3 months to try to get us a mortgage? Because they simply dropped the ball on my application. There was NEVER a resolution offered to me, other than putting more money up. We have since filed a complaint with the Consumer Financial Protection Bureau for what they did to us. They dragged us on for almost 3 months, until finally we lost our home & patience. This company is dishonest. We have documentation of every phone call & every non response. We even have a transcript of them calling one of our creditors & pretending to my wife, using her personal ID.Desired Settlement: We want the money back for the 2 appraisals that were supposedly done.

Business

Response:

Thank you for reaching out to us, we take every borrower concern very seriously. Due to consumer privacy laws we are unable to give details on non-public consumer information. We can confirm a mortgage was applied for by [redacted]. We can also confirm that due to specific mortgage qualification requirements we were unable to approve the loan application as applied for however a resolution was offered which would have allowed for the loan to close. The borrowers father was very involved in the loan application process and it was relayed to us by him that financing would be sought elsewhere. Out of good faith we have refunded the cost of appraisals. Advisors Mortgage has a stellar Revdex.com record as can be seen through our A+ rating.If authorized by the borrower we would be happy to give more in depth details. If we can be of any assistance please do not hesitate to contact us, we will be happy to be of any help possible.