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January 22, 2018Re: Revdex.com Compliant #***To Whom It May Concern:We have researched the complaint in regards to this applicant’s transactionAs a company, Victorian Finance believes in helping all borrowers achieve the dream of home ownershipWe go to great lengths and efforts to exhaust all loan
options available for our applicantsIn this particular case, there were compounding variables that we could not have foreseen during the early stages of a pre-qualification.As part of the mortgage application process, we are provided with credit and basic income information we can use to determine if a pre-qualification is possibleThis information alone is not enough to approve an application to lendIt is only after the potential borrower has completed and sent their application to Victorian Finance can we proceed with our due diligence and full reviewRegulations prevent us, in many cases, from proceeding too far into the process without the applicant’s consentIn some cases, while performing our due diligence additional information is presented that we were unaware of causing challenges to approving our applicant for a mortgageIn every case, Victorian Finance will work diligently with our applicants to overcome those challengesHowever, this particular case was one of those situations where information, not available in the early stages, was discovered and changed the outcome of our earlier analysis.We empathize greatly with the frustration of this consumerThis is felt on both sides of the transaction when we are faced with challenges we are unable to overcomeOur main goal is to provide opportunities for a consumer to finance their new home! It is never a pleasant experience when we are unable to do so and costly to both the consumer and the mortgage lender in time, monetary costs, and efforts.As a measure of good relations with our consumers, Victorian Finance will be refunding the full appraisal deposit collected from the consumer in the amount of $$was previously refunded between the filing of this complaint and the date of this response as part of our standard procedures when an application is not approvedThe remaining balance of $will be refunded to the consumerThe amount of the appraisal will be covered by Victorian Finance.While this is not the ideal outcome of an approved application both the lender and the consumer had originally hoped for, we hope this will show our willingness to work with our customers.Chris B*** Compliance Manager Victorian Finance, LLC