AimLoan.com

AIM loans

We just completed the closing process. I wanted to say thank you for the easy experience. It has been a real pleasure dealing with you and your colleges. Stephanie is terrific, responsive, concise on what she needs and excellent follow up.

I am not sure who should I send the comments and reviews about my experience with AIM Loans, but more people need to know how great this process is to busy people like me. Being able to submit docs when is convenient to me through the website, email communications, real time verification that the documents were sent and received. The fax cover letter to route to the right person. Very easy and fit my schedule perfectly.

You guys do great work and I will recommend you to anyone I know looking for great rates and service.

Best regards,

Lev Rejanovinsky

Review: Due to the lender's inability to close within the lock period, we, the borrowers, have been subjected to a $4,229.20 fee as evidenced by the attached documentation.

We were originally locked at 2.75% until 2/24/15. In fact we were to receive a credit for $457.20 (page 2, #2 of the original GFE). On 2/23/15 we were informed by the lender that they "do not have sufficient days left" on the lock to close, therefore we will have to renew the lock and as a result, the rate will be higher. We had intended to confirm with all the parties to close by 2/24/15 since all parties were clear to close by 2/23/15. The lender denied our request to extend the same rate. Also, we were never informed about how many 'sufficient days' were required by the lender prior to closing. On the contrary, we were told on multiple occasions that the closing could be scheduled in as little as one day.

Now, since our lock expired we needed to pay .776% in points (of $545,000. loan amount) in order to qualify for the same rate (see rate comparison document).

After being locked at a higher rate, we were informed by the mortgage processor that we had to wait until Monday, 3/2/15 to close. This was due to regulation that requires the lender to wait 3 business days after the disclosure of the new rate before closing. As a result we scheduled and closed on 3/2/15.

The lender should bear all of the expense of the increased rate because they had responsibility in the delay of the closing and the expiration of the earlier rate lock period. The lender clearly states on its website that "If the delay is caused by us, we will extend the lock at no cost." ([redacted])

Kindly advise how the lender wishes to proceed in this regard. We look forward to your prompt attention towards this matter.Desired Settlement: The lender should bear all of the expense of the increased rate because they had responsibility in the delay of the closing and the expiration of the earlier rate lock period. We would like to request a refund check in the amount of $4,229.20 to cover the cost difference between our original rate and the current rate.

Business

Response:

[redacted]RE: Revdex.com (Complaint #[redacted]) & CFPB Complaint (Case #[redacted])Dear Mr. [redacted]:This letter is to confirm receipt of the two recent complaints you have filed against ourcompany. I have reviewed your complaints and AimLoan stands by our originaldecision.The delays that occurred on your loan were directly related to the title company nothaving clear title on the property. It wasn't until the day your rate lock expired that thetitle company was ready to move forward as they had finally received the execution of aboundary agreement which was outstanding for well over a month. At this point it wastoo late for all parties involved to finalize the closing.Per our Rate Lock Policy, you were then subject to current market rates (which wereworse at that time) as indicated below.What Happens if the Loan Process Takes Longer Than MyLock Period?If the delay is caused by us, we will extend the lock at no cost. lfthe delay is caused by you or a third partyservice provider and your rate lock expires within seven days or less. your loan will be relocked at thehigher of the pricing in place on the date of your original lock or current pricing.Delays caused by you or a third party service provider include but are not limited to: requestingsubordination of an existing second mortgage or home equity line of credit; not supplying documentation ina timely manner; providing inaccurate. inadequate. obsolete or incomplete documentation or loaninfomtation: changes in loan terms or loan programs; HOA delays in completing and returningquestionnaires; delays by a title company, closing agent or appraiser: and delayed appraisal inspections.termite inspections. survey inspections or document signing appointments. If you believe any of theseissues may occur on your loan, you may want to consider a longer lock period.The loan closing was then further delayed through March 2, 2015 as you indicated toAimLoan that you were cancelling your loan and moving forward with a local creditunion. AimLoan then matched the credit union's price later that afternoon. Since theinterest rate increased, the Truth in Lending Statement and GFE were then redisclosed asrequired by Federal Regulation and the earliest the final loan documents could beprepared was then March 2, 2015, again in accordance with Federal Regulations.We regret the fact that this matter could not have been addressed earlier in the process.Again, the holdup related to the title company not having clear title as there was an issuepertaining to a boundary agreement. This matter resulted in the closing being delayedalmost one month. This is a matter that was beyond AimLoan's control. These mattersshould be addressed with the seller of the property or the title company handling thetransaction.Sincerely,[redacted]VP of Loan Production

Business

Response:

The information stated is not accurate. The third party Title Insurance provider was not ready to close prior to an extension being needed. We stand by our decision that a rate lock extension was needed.

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below.

The title issues were resolved several days prior to the rate lock expiration date. The lender informed us that they did not have enough time to close before the expiration and as a result the rate went up. Since, the lender is responsible for the delay, they have to reimburse us for the cost of the higher loan rate. Thank you.

Regards,

Business

Response:

April 13, 2015Revdex.com of San Diego, Orange and Imperial CountiesAttn: [redacted]Re: [redacted] Revdex.com (Complaint #[redacted]) & CFPB Complaint (Case #[redacted])Dear Ms. [redacted]:As a follow up to the previous response to the above referenced complaint, attached is thecommunication the Revdex.com has asked for from the closing agent used onthis transaction.You will see that there are emails from Tuesday, February 17th through Friday, February27th, all pertaining to AimLoan.com's request for clear title and for notification that theclosing agent was ready to close this transaction. It wasn't until February 27th thatAimLoan received the outstanding items from the closing agent and was then in positionto move forward with the closing.As previously indicated, the rate lock expired on February 24th and on February 23rd, Mr.[redacted] was notified that his rate would need to be relocked.Please review the attached emails and let us know if you have any further questions orconcerns.Sincerely,[redacted]VP of Loan Production

Review: On April 29th, on behalf of my mother, I used Bankrate.com to find a lender so my mom could refinance at a lower rate than her credit union ARM, that readjusts in June. We went to the Aimloan.com website and got "pre-approval" so went ahead and locked in at 3.25% which would have been around 3.35% with closing costs. I then sent in all documentation in less than 24hrs. from receiving a link to a Sallie Mae website, which was NEVER updated as we proceeded along. We were assigned a loan consultant in [redacted]. as well, but being I did all the work and underwriting was automated he didn't serve much purpose till the end. Next up, was the appraisal which valued the house at $230K using comps not even remotely near us. Its odd cause at no point after the housing bubble has it been below $260K. This years taxes has it at $270K and homes went up 10% in March. No matter as we wanted to combine the 2 mortgages for $110K up to a cash-out loan of $158K to pay off a student loan and credit cards leaving room for adjustment. Now, [redacted] comes back and says one of my mom's part-time jobs can't be included even though I told him BEFORE ordering an appraisal she'd been there 5yrs but had a brief layoff, same line of work and stated it was fine but now changes his tune without explaining why. All is fine as I'm up-to-date with all documentation and regular email contact. [redacted] then gets back to us on May 20th, wasting half a week, telling us that our DTI is too high so will have to payoff a $2700 student loan. We paid it off within an hour and sent over documentation. He also tells us they have a 7 day period to draw up docs. My mom "closed" on the 23rd, less than 24hrs after final approval, not 7 days. We find out today(6/6), AFTER our lock expired on May 29th, that my sisters $37K student loan "appeared" when I mentioned it was to be paid since Day 1 and a credit card balance increase which too could have been paid off BEFORE the lock expired that they conveniently let happen as its gone up .5pt since.Desired Settlement: Mortgage closed at agreed upon terms as the $37K loan didn't "magically appear" as it was the point of going from $110K to $158K. Use the disregarded income of $450 per month and we'll pay-off or down that credit card as we had 6 days to resolve anything in May. Win-Win for everyone! Otherwise refund for appraisal as pre-approval and underwriting with pulled credit was worthless as it still didn't close even though none of our income numbers changed throughout.

Business

Response:

Re: Revdex.com Complaint ID [redacted]

Dear Mr. [redacted]:

This letter will confirm our actions regarding the complaint made to the Revdex.com (“Revdex.com”) for the above referenced complaint ID. Thank you for the opportunity to respond to this complaint.

AimLoan.com cannot proceed with this loan due to an increase in the borrowers’ debt to income prior to funding. Lenders, such as AimLoan.com, are required to review credit a second time prior to funding to ensure a borrower still qualifies for the loan. In this instance, a soft credit check revealed additional debt which resulted in an increase of your debt to income from 48% to 60%. The increase was a result of a higher balance on a credit card and a student loan payment that was not previously revealed because the student loan was in the process or being transferred to another creditor. Our policy does not allow for revolving debt to be paid down in order to qualify. This increase made the loan ineligible for sale to our investors.

The appraisal fee was refunded on June 10th to the credit card used to order the appraisal. If you have any further questions regarding this transaction, please feel free to contact me directly at ###-###-####.

Sincerely,

VP, Compliance and Quality Assurance

Faster , better , Transparent service .

Review: Aimloan delayed the process of closing on a pre-approved investment-property mortgage by over three months past the purchase agreement's set closing date. At the end of that period, they unexpectedly cancelled the application after leading the seller and me on that everything was fine and they were simply waiting on the title company to provide a clean title. They offered no willingness to reconsider or enumerate options. As a result, this has caused the property seller and me much unnecessary stress, enormous amounts of extra attorney/legal fees, damage to my credit report and ability to apply for other mortgages instead since I now have a hard inquiry on my credit report, damage to my reputation in my community and in front of the seller/attorneys/realtors/potential-tenants, loss of potential income for me from several would-be tenants who had to find other living arrangements after waiting too long, and loss of income for the seller due to having to keep an apartment vacant to comply with the terms of the purchase agreement for months while not being paid for the property purchase. Additionally, I have spent hundreds of dollars in appraisal fees, home inspection costs, and five-hundred dollars in an earnest money deposit to the seller. Had it not been for the delays, the loan would have been fully approved and would have closed successfully; thus, the delays are the direct cause of the current issues. Aimloan was even unwilling to consider additional collateral, cosigners, or any other application adjustments that I reluctantly offered to try to help rectify the sudden situation.Desired Settlement: To reopen the cancelled loan application, to have final approval proceed, and to close on the property within the next 14 days. Proposed resolutions requiring 30 or 60 or more days are infeasible, as this will cause the purchase agreement to fall through and likely cause legal action to be taken by the seller.

Business

Response:

Please see the attached.Dear Mr. [redacted]This is to confirm receipt of a recent complaint you filed with the Revdex.com. we have reviewed your complaint and welcome the opportunity to respond.In reviewing the sequence of events that occurred, the delays surrounding the closing of your loan were of no fault of AimLoan. The delays that occurred resulted from AimLoan being unable to receive a title report from the title company you selected. You entered into an agreement to purchase a home in early August and it wasn't until November 20th that AimLoan received the title report. You and your real estate agent were made aware of the challenges obtaining the title work numerous times from the beginning of the process. It wasn't until mid-September that the title company requested a commitment letter to release the title work. It seemed we were going to receive the report shortly thereafter, but even after the commitment letter was provided to them they did not release the title work. You and your agent were kept in the loop and asked to assist in expediting the request since we were exhausting our attempts to follow-up via phone and email. Throughout October we communicated to you we had not received the title work and asked you and your agent to continue to assist. In November we were informed the title company was waiting on items from the seller to release the title work. By the time we released the title work, your credit documentation had already expired requiring the processor to request updated documents. As a result, your credit report had to be rerun. Unfortunately, your credit score had dropped significantly and was now below the minimum required score.In response to this latest challenge, you were presented with options. We recommended you reach out to the credit bureaus to clear up any erroneous information that was affecting your score and your loan officer provided details on how to expedite that process.Unfortunately, at this point AimLoan is at a standstill until your credit score has improved above the minimum requirement. if you wish to further discuss this complaint, feel free to contact me directly at [redacted] or [redacted].Sincerely,[redacted]

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below.

The reply body did not propose an action, and the attachment referenced in the body of the message was not included in the message.

Regards,

Business

Response:

Dear. Mr. [redacted]:The only attachment was the letter responding to the complaint. There are no other attachments. I have re-attached the response to the complaint. In regards to a resolution, [redacted], the Loan Officer with whom you were working provided you with the instructions needed to have your credit report updated assuming the items listed on the report were erroneous. Here's a recap of those instructions:1.) You will need to obtain

a letter from the creditor for each dispute. The letter must be on company

letterhead and contain your name, address, a valid account number and a date.

In addition, the letter should state what correction has been made to the

account(s).

2.) You must also prepare a

letter in addition to the above stating that you wish to remove the appropriate

accounts from dispute. This letter should be signed and dated and should also

contain your name, address, phone, and valid account

number.

3.) Upon receipt of all

necessary letters, contact [redacted]'s Customer Support Department ([redacted])

and state what you would like [redacted] to do (remove disputes, update credit

history). You should provide to [redacted] your contact information and ask [redacted]

to contact you as soon as the updates have been made so we can re-run your

credit report. When contacting [redacted]'s Customer Service Department, you will be notified that this process can take up to 30 days. In most instances, this process takes generally 1-2 weeks. We suggest you follow up with them regularly. Upon your credit report being updated, we can then revisit the loan approval. Until this is resolved we won't be able to proceed as the loan does not meet guidelines. Sincerely,[redacted]

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below.

I ran my credit report on Thursday via my local bank. What we found is that Aimloan's first credit inquiry, prior to giving a pre-approval, was after any factors that would have affected my credit score and, therefore, they had current credit score information identical to that of my current credit score at the time they gave their pre-approval. The staff member at my local bank advised me that my credit history shows that my credit score did not change prior to or after the inquiry from Aimloan back when I originated my loan application months ago and received a pre-approval. The staff member at my local bank, who has been a loan officer on mortgages for many years, advised me that they do not see evidence that Aimloan intended to underwrite the loan and then had any sudden surprises, but that my information has not significantly changed since before Aimloan's inquiry. Furthermore, she also assured me that, had I applied for a mortgage through her bank, nothing that has appeared on my credit history since the date I received my pre-approval letter from Aimloan would have affected my application with her bank or underwriting.Considering this information, the fact that Aimloan's underwriter is in-house, and the fact that I already have a mortgage with Aimloan and have consistently made payments on time, I do not feel that this is an acceptable proposed action, because Aimloan should have expressed their intentions accurately much sooner than several months of waiting when they appear to have had no new information. Furthermore, several weeks of additional waiting is not acceptable to the seller and will result in termination of the sale, and possible legal complications as well.

Regards,

Business

Response:

Please see the attached.Dear Mr. [redacted]:We have received your recent response to the above referenced complaint and AimLoan.com's initial response. As previously indicated, the issue we are now experiencing pertains to your credit. I am uncertain nor do I agree with what was communicated to you by the member of the local bank but AimLoan.com has previously and can again provide you proof to show that your credit score is lower than the required minimum.Originally your credit report was verified on July 14, 2015 at which point you met the minimum requirements relating to credit scores. Per program guidelines, credit reports are valid for 120 days. When your credit report was verified on December 7th, after the title related issues were cleared up, your credit score dropped significantly due to a few negative impacting items which occurred in October and November of 2015. Upon discovery, a member of AimLoan.com then provided you with solutions for how to go about resolving the credit issue. AimLoan.com can again provide this information to you as we can clearly show you a copy of both credit reports along with the negative reporting items. Until such time as these items are addressed and your credit score improves above the minimum requirements, we will not be able to move forward as the loan is not approved.Please feel free to reach out to me if you wish to receive the information that was previously provided to you or have any further questions relating to this complain.Sincerely,[redacted]

Our family recently built a new house and needed a mortgage company. After extensive research, reading reviews and working out the different rate scenarios with my loan consultant [redacted], we pulled the trigger and locked in an incredible 3.125% rate with just under a point. The process was smooth and issue free. Just have your docs in order and it's a breeze. I literally ran it to 2 weeks before closing, pulled the trigger and they made it happen right on the builders set closing date (2.23.2015). I couldn't be happier with everything and everyone. We've already referred friends over. I highly recommend AIM.

I am not easily impressed and this was easily one of the best transactional experiences I have had in recent memory. To start with - great rate, reasonable fees, and a straightforward presentation of both. The most impressive part of my experience though was the timeliness, accuracy, organization, responsiveness, and expertise AIM exhibited from beginning to end with my refi. At every turn they did exactly what they said they would when they said they would, which to me is priceless. And my interactions with them were very pleasant on top it. When they followed up after closing and asked about improvement opportunities I honestly couldn't think of one. I heartily and without qualification recommend AIM to anyone looking for a hassle free mortgage experience!

Best rate and a top online loan company, easy user interface. My refinance was processed in a month. This is the second time I had refinanced with aimloan.com. And, I have referred them to my friends and family who are also impressed with their lowest rates and quick closing.

Review: This company is horrible and unacceptable to complete service for mortgage and the paper trail needed to complete is very much unessecary I have never hear of such a thing to even need copies of checks, and the mortgage processor is unreachable as far as phone communication you have to leave voicemail and wait several hours for call to be returned and also an extended waiting period for email reply, they have also delayed our progress to where we will not be in our new home on time and living in a camper with three childrenDesired Settlement: FYI for other people thinking about using them

Business

Response:

AimLoan.com is in receipt of Ms. [redacted] complaint filed with the Revdex.com (“Revdex.com”). Thank you for the opportunity to respond to the complaint.

Review: I purchased my condo in [redacted] in September 2014, and I refinanced my mortgage through Aimloan.com in April 2015. On March 27, 2015, Aimloan charged $395 on my credit card as the appraisal fee for the refinancing, but we recertified the appraisal from September 2014. Aimloan cancelled the new appraisal. Instead, I paid $100 for the recertification. After my mortgage refinancing was completed, I asked Aimloan a couple of time about the refund of the $395 appraisal fee. On May 20, 2015, heard from my loan processor that the company should have refunded the difference in what was collected upfront ($395) and the fee for the recert of value ($100), so $295, and they would need to process this refund and mail a check to me. (Please note this is not correct. I paid $395 using my credit card on March 27, 2015. $100 recertification fee was included in my final HUD-1, so I paid it at closing on April 29, 2015. Simply speaking, Aimloan owes me $395, not $295.) On Monday, June 8, 2015, I contacted Aimloan again and asked about the refund of $395 appraisal fee. I have not heard anything from Aimloan yet.Desired Settlement: Refund of the appraisal fee, $395, that I paid on March 27, 2015

Business

Response:

Please see the attached.June 16,2015[redacted]RE: Revdex.com ComplaintDear Mr. [redacted],Thank you for taking the time to follow up on your concern. Your Final HUD 1 statement doesshow that a 1004D Appraisal was completed to certify the report, $100.00 was charged throughclosing and that you paid for the appraisal up front of $395.00 as stated. I am sorry that yourrefund was not received in a prompt manner.It appears there was miscommunication between our Loan Processor and our Accounting teamand we do not wish to miss this opportunity to rectify the error. I have personally followed upwith our accounting department to ensure a check of $395.00 will be mailed to your home.Should you not receive this refund please follow up with me directly and I will be sure torespond promptly. I may be reached at [redacted] or [redacted].Sincerely, [redacted]Processing Manager

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution would be satisfactory to me. I consider this complaint resolved.

Regards,

Just wanted to say what great service [redacted] and [redacted] provided. Both are extremely professional and responsive. I am now on my 4th refinance/financing with AIM and my Son just competed his financing as well.

Great rates and great customer service.

Review: On February 5, 2014 I locked a rate of 4.375 with rebates of 4,494.02. the lock period was 45 days, ending on march 22, 2014. The house was still under renovation so the appraisal was delayed until completion. The loan processor, [redacted], gave me a date of March 14 as the day the appraisal needed to be in so that we could close by the following Friday. When the title company heard this they contacted [redacted] and told him that was cutting it to close and he needed to order it sooner. The seller agreed to have the appraisal done on March 10. When the appraiser didn’t show until the 14th he stated that it wasn’t ordered until then. Further delays by AIM included underwriting missing needed documents until the last minute and catching other items on the second review. They also missed mistakes by the appraiser during the first review so that it was kicked back again. My biggest complaint is that I was constantly assured by the processor that there was plenty of time to close the loan as long as the appraisal was done on the 14th of March. The appraisal was completed on time only AIM loans could not deliver on completing the loan. I even spoke with his manager who stated that it was unlikely the loan could be completed in that amount of time and didn’t know why [redacted] said it could. As a result, I had to 'lock' a new rate with $1101.05 less in rebates which I had to agree to cover in order to complete the purchase.Desired Settlement: I am seeking reimbursement of the additional closing cost that I incurred as a result of the lender not completing my loan as promised in the time promised. The sum total of $1101.05

Business

Response:

I apologize for any frustration the borrower experienced as a result of this transaction. Unfortunately, repricing was necessary since the loan was not ready to fund until after the lock had expired. The delay was the completion of the appraisal; however, the appraiser could not complete the appraisal until all renovations were finished on the subject property. A review of the appraisal required additional information from the borrower. The approval of the loan was delayed because the appraiser could not start their work until after all renovations on the property were complete. As a result repricing was addressed per AimLoan’s policy sent to all borrowers upon locking in a rate.

Review: I entered into an agreement with Aimloan to provide a mortgage refinance for a primary reseidence and a second home. Rates for both refinances were locked at extremely attractive rates with Aimloan on May 1st and I paid the commensurate appraisal fees to aimloan to guarantee the lock and begin the refi process. The Aimloan representative suggested the fees were too high in Aimloan requested a significant amount of information from me to support my income, all of which was provided in a timely manner within two business days. Aimloan had the documents in underwriting for 12 days. Due to Aimloan's exteded underwriting "review", the loan was not able to close in the 30 day lock period. After the loan rate was locked, interest rates moved up sharply. During the last week of the closing period, interest rates were appoximately 1/2 percent higher for comparable loans. It is my view that Aimloan chose to delay and miss the lock period to keep from having to close my loan at lower interest rates.Aimloan's official response was that the title company took too long to provide the title documents. The title report was provided by the title company 14 days prior to the lock expiration date. The title was provided in a sufficient time to close the loan within the lock period.Desired Settlement: I request that Aimloan honor the rates that I locked and close the loan within one week.

Business

Response:

[redacted]

Went into my refinance with AimLoan not knowing what to expect, but since they were local to me, I felt like I had some bit of recourse (real or perceived). The locality was of no consequence as I had a fantastic experience with AimLoan and never saw them in person. The process moves very quickly and I took it upon myself to respond as quickly as possible to all documentation requests. The process went fast and we closed in a few weeks. Would have closed sooner, but my employer was very slow to respond for employment verification (almost a week). They also took the time to alter one of their forms my HOA had to fill out to reduce the cost to me charged by the HOA. Outstanding!

We were very pleased with AIM overall. They have exceptional customer service, and we had great loan officer. [redacted] worked very hard to finalize our refinancing on time. We would recommend her to everyone. Thank you [redacted].

Review: In early July, we began the process of refinancing our existing mortgage with Aim Loan. After filling out all paperwork, an appraiser came to our property, and performed an appraisal. In early August, Aim Loan contacted us and said there may be a problem with our loan with them. I reached out to them, and they indicated we were denied because our property is actually two parcels, and the fact that our home was on both lots they could not proceed per [redacted] guidelines. I reached out to [redacted], and they told me that this did not apply to us since our current loan is not backed by [redacted]. I had to pay $395 for an appraisal we could not use, due to the fact that Aim Loan stopped the process, not us.Desired Settlement: I simply want them to pay me back the $395 for the appraisal. We have since moved on to another company to refinance, and we could not use the appraisal thru Aim Loan, because the appraiser was not authorized for new mortgage company.

Business

Response:

[redacted]

Dear Mr. [redacted]:

AimLoan.com, as a direct lender, follows investor guidelines. Upon receipt of the appraisal, the underwriter denied the loan because the appraisal revealed that the subject property is “located on two adjoining parcels with the residence located on both parcels” (pg. 5 of the appraisal report – attached). Per [redacted] guidelines (investor), certain requirements must be met when the security property consists of more than one parcel of real estate. One such requirement (see attached) is that “only one parcel may have a dwelling unit (limited nonresidential improvements such as garage are acceptable)”. This information would not have been discovered if not for the appraisal report and the appraiser’s statement in the appraisal report. The $395 Mr. [redacted] references is for services rendered by the appraiser. This exact amount was paid to the appraisal management company for the appraisal (see attached invoice). Because this was for services rendered and performed by a third party, AimLoan.com is unable to refund the appraisal fee.

Review: My wife and I closed a new mortgage loan with AimLoan in August 2015. When we closed our loan, the property tax estimate was thousands of dollars too high because the AimLoan processors took an outdated and incorrect estimate from the [redacted] County Tax Assessor's website rather than using the past tax bill we provided or getting the correct estimate from the Assessor's office. When we pointed out the error, we were assured that it could be easily corrected after closing. However, after multiple telephone calls and correspondence, AimLoan’s servicing department seems unwilling or incapable of doing so.

The initial escrow deposit is about $500.00 more than a full year's worth of property taxes and insurance with an additional $488.23 billed on each month’s statement which almost doubles the payment amount. AimLoan owes a refund on the excess escrow funds collected and are now not applying the principal and loan payment to our account and assessing late fees when there should be none.

This escrow error needs to be corrected and the late fees rescinded ASAP. I have already provided the correct tax estimate from the [redacted] County Assessor three times to them. You or they can contact the Assessor if there is any doubt to the validity of the estimated taxes.

We need AimLoan to correct our escrow account, rescind the late fees, and change the monthly payment to reflect the much lower amount due.Desired Settlement: Billing Adjustment

Correction of Credit Report

Refund

Business

Response:

Please see the attached.Dear [redacted] and Ms. [redacted]:I am in receipt of the complaints that you have filed regarding the monthly collection for property taxes in your escrow accountWe have confirmed that the tax amounts that are reporting on parcel number [redacted] are valued at land only and do not include any improvements to the property. As such, an estimate was made at closing that your taxes would be due in the amount of $2,725.38 per installment once the full value was determined by [redacted] County. per the assessor's office, the reassessment of your property will not be conducted until Deed of Trust has been recorded with the county, which may take approximately six to eight months.If we were to make any adjustments to your tax collection at this time, the amount being collected would reflect the land only value and would cause a shortage in the future once the property becomes fully assessed. Additionally, the documentation that you provided from the [redacted] County Assessor is an estimate and cannot be used in determining you actual tax values. We are unable to update our records at this time.Once your tax value has been fully assessed, you may provide the updated installment projections to the following address, and we will be more than happy to make any necessary adjustments to your account:ATTN: Tax Department[redacted]Fax: [redacted]Our records show that your loan is currently due for the November 2015 payment. While we have received an amount of $700.00, the total amount due is $1,184.56, and we do not accept partial payments. A letter was sent to you dated November 17, 2015, advising you of this. In order to bring your loan current, please remit the remaining $484.56 to satisfy your November 2015 payment.If you have any questions, please call me at [redacted].Sincerely,[redacted]Research Department

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below.

In [redacted] County, taxes are billed as assessed by the County Assessor. What AimLoan.com says in the letter makes no sense and is contradicted by the actual facts. I talked with and provided AimLoan.com with an official estimate from the Assessor herself, who understands the situation of the vacant land vs. residential property perfectly (vacant land is taxed at a much higher rate). AimLoan.com provided the mortgage on the value of the residential property but is using vacant land as a basis for their tax estimate (which cannot be coming from [redacted] County because I already provided the correct one from the Assessor). In common speak: "They are talking out of both sides of their mouth at the same time." They know that the estimate I provided is correct and are not being truthful about the circumstances. When the actual tax bill comes in, they will have collected in excess of $3,000 over the required amount but are refusing to make the correction that needs to be made. They are acting. In our opinion, for them to collect $3,000 under false pretenses is tantamount to robbery! It may be legal for them to do this, but is very unethical and unprofessional, and the Revdex.com should not let them get away with it so easily.

Regards,

Business

Response:

Please see the attached.Dear [redacted] and Ms. [redacted]:I am in receipt of your complaint filed with the Revdex.com regarding the collection of property taxes in your escrow account.I am sorry that I was unable to reach you by phone today to discuss our course of action regarding your escrow account.We reached out to [redacted] County to determine the cause of the discrepancy between the tax estimate that you provided and the tax estimate provided by the title company at closing. Per [redacted] County, the estimate that you provided is the most accurate projection for your upcoming property taxes with the full assessment.As such, we have updated our record to reflect your 2016 installments, each in the amount of $748.07. Additionally, your escrow account was reanalyzed, resulting in a surplus in the amount of $1,875.42, which will be sent to you with a breakdown of this analysis in a separate mailing. Your new monthly payment, effective with the January 2016 payment, is $868.09.I sincerely apologize for any concern and inconvenience that this matter may have caused, and I thank you for your continued patience and cooperation while resolution was reached.If you have any questions, please call me at [redacted].Sincerely,[redacted]Research Department

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below.

The letter affirms that I was correct in my original complaint and states that the company will refund the gross over collection of funds and adjust my escrow payments to reflect their mistake that dragged on for months. However, in trying to work with them to fix the problem, they did not apply my timely payment of principal and interestand charged me a late fee when nothing was actually due on the escrow portion of the payment. I cannot accept this partial resolution until the company refunds the late fee and assures me in writing that the incorrectly assigned late payment status will not be reported or has been removed from any credit bureau reporting that may have occurred.I truly appreciate that the Revdex.com has assisted me in this matter. Before I contacted you, the company was not making a good faith effort to correct this problem.[redacted]

Regards,

Review: I started a real estate loan application with Aim Loan a couple of months ago. I paid for the appraisal but learned I was not within the 80% LTV; the appraisal cost almost $500. At that point, I have provided Aim Loan most of my information, including the name and phone number to my HOA.

I was told since I am a veteran and can qualify for the VA loan, that we can start down that route. I paid for another appraisal of almost $500. My contact at Aim Loan contacted me a couple of days ago regarding the name of my HOA. I provided the name of the managing company along with the HOA name. This morning, checking email, I was informed my HOA is NOT an approved VA approval HOA. What in the world? Shouldn't they have ran this information, especially since I provided ALL of the information prior to starting the 2nd loan process. How would they feel if this is their $500 on the line?

I am out of almost $1,000 and no loan. I would like to ask the employees at AIM Loan to think about what this $1,000 can do for them in their personal life and why should a consumer be out of this money when part of it can be prevented.Desired Settlement: I would like my 2nd appraisal cost refunded. If I didn't provide all the info by the end of the 1st loan process and you are not aware of the name of my HOA, I wouldn't ask for this. However, your company received all of my information prior to starting the 2nd loan.

To find this out when I thought I was days away from getting m[redacted]an refinance is disheartening and disturbing!

Please refund me for the 2nd appraisal.

Business

Response:

September 30, 2014

RE: Revdex.com Complaint #[redacted]

Dear Ms. **:

This letter is in regards to a recent complaint you filed with the Revdex.com. I

have had a chance to review your complaint along with our internal notes and as you

requested, we have agreed to reimburse you for the cost of the second appraisal.

In reviewing our notes, our associates recommended an alternative loan program that we

thought you would qualify for but overlooked the fact that your home was a condo and

not a four unit property as you had indicated on your loan application. When researching

further, we found the Condominium complex to not have VA approval, thus we were

unable to move forward with a VA loan.

None the less, AimLoan.com agrees that we should have caught this prior to ordering

another appraisal.

Attached please find a copy of a credit card receipt which shows a credit to your credit

card for the cost of the second appraisal.

In the future we ask that you and others reading this response please contact us to further

discuss the issue prior to submitting a complaint with the Revdex.com as we

agree that this was an oversight on our part.

Please feel free to reach out to me at (619) 814-8210 should you have any further

questions or concerns surrounding this complaint.

Sincerely,

VP of Loan Production

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action has not resolve my complaint. For your reference, details of the offer I reviewed appear below.

To [redacted] at AimLoan. I have not receive the refund as per your letter. I was not going to counter your letter since you mentioned I will receive a refund. It's been almost a week, I have not receive my refund.

Review: We applied for a mortgage refinance loan with AIM on May 9 and were immediately informed of approval at 3.25% and we elected to lock that rate for 30 days for a June 9 closing. We subsequently provided all requested documentation. We scheduled an appraisal inspection for 20 May and the appraisal went to AIM on May 23. On May 24 AIM informed us that they were providing all information to their underwriter for review. They stated that the underwriter would require 3 to 5 days. On June 3 (10 days later), AIM informed us that the loan was provisionally approved with a request for supplemental information. We provided the supplemental information on June 4.On June 4 AIM told us that they could not complete the loan during the lock period and that it was our fault because the appraisal was not completed in a timely fashion. AIM never provided a deadline for the appraisal and never indicated that there were delays impacting the closing. They stated we would need to re-lock the loan. On June 5, AIM requested additional new information and indicated that the new loan rate woud be 3.75%. Once again, we provided the information. We have always immediately responded to their requests for information. As of this point in time (late evening, June 5) it is not clear if AIM has received clearance from their underwriter to finish the loan.Note that the information provided to AIM in the mortgage application and the subsequent documentation submissions unambiguously shows our ability to support this loan. This is a no cash out refinance, 30 year fixed, with rate reduction from 5% to 3.25%. We have credit scores of 800. Our tax returns show sufficient gross income, the requested loan is less than 50% of appraised value, we showed assets and income sufficient to maintain the income in the future. In summary, we are excellent candidates for the loan and all issues with the underwriter are apparently due to AIM not requesting the correct information or AIM not providing the right information to the underwritersDesired Settlement: We would like Revdex.com to act as our advocate with someone in authority at AIM Loan to review this loan application and honor their loan offer to us. We have been and are ready to close at any time and the Lock date of 9 June is not yet passed.

Business

Response:

June 26, 2013

I've done several loans before but not online. I thought it would be a gimmick, bait and switch. I was working with a loan officer at my bank/lender who was going to do a no cost loan refi. I told him about the rate AIM was offering, way lower than his, and he was surprised and said be careful about this&that.

Bottom line, I was truly amazed at AIM's high level of service - from filling out the info on line, to their agents on the phone who are incredibly cordial and helpful and keep you updated every step of the way via email, to the notary who shows up at your door with all the docs to sign. Couldn't have asked for a smoother, no-hassle process.