Blue Brick Financial

I have not heard from Mr [redacted] until this review I was unaware that we did not issue him a credit at closing I have already resolved this issue by sending out a check on 01/04/for the amount of the appraisal paid by Mr [redacted] as promised and advertisedI understand it was an oversight on our part and should not have taken so long to acknowledge the issue This is not a practice and will not happen again Please express that to the borrower and thank you for bringing it to my attentionDan R [redacted] - Owner

We are not appraisers and do not determine value We have no control over appraisal work and by design don't even have any contact with the appraisers We order and receive appraisals through 3rd party management companies as does all mortgage lenders This seems to be a complaint with the appraiser and/or with appraisal management company Their information is on the appraisal document that the borrower already has We did not receive any funds from the borrower other than authorization to order an appraisal with her payment going directly to the appraisal management company who coordinates the completion of the appraisalWe have questioned the appraiser and requested that he reconsiders the verbiage used to describe and compare the home to other homes with the *** His response was not favorable He was unwilling to change anything We are willing to dispute the appraisal given any pertinent information that the borrower has to offer We are also willing to order another appraisal at the borrowers expense If there is a better outcome, we will be happy to close a qualified loan and would reimburse both appraisals upon closing of the borrowers loan

[A default letter is provided here which indicates your acceptance of the business's response If you wish, you may update it before sending it.] Revdex.com: 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 will wait until for the business to perform this action and, if it does, will consider this complaint resolved Regards, [redacted]

I believe this comment is in result of us not responding to questions that the borrower had on Thursday and Friday of last week. I feel the issue has been resolved and that the borrower is happy with the product she ended up with. Please let me know what more we can do to make the borrower happy

We have tried several investors and all have the same response: Conventional loan limit is okay which was offered to Mr*** but did not accomplish his goals of refinancing... anything above conventional limits (Jumbo product) will not allow for a "hobby farm" generating income on
the residential property (Mr*** has an avocado farm = "hobby farm"). We received word from the final investor last week and then allow the decline letter to go out the applicant. No money has been paid to Blue Brick Financial LLC Unfortunately, we are not able to do the loan that the applicant wants due to the use of the residential property. This is out of the ordinary and no one had any reason to ask if the property was being used as a "hobby farm" before processing a loan for Mr***. We understand his frustration. We will pay for Mr***'s appraisal

I've attached a final Closing Disclosure, that the borrower was provided. It shows all of the costs and a lender credit as follows:COSTS (Cost of doing the loan): $1,(we do not cover the borrower's property taxes, insurance and monthly interest).LENDER CREDIT: $2,016The difference
between Cost (1515.50) and the Credit = 500.50. The borrower paid $for the appraisal. Because we rounded the lender credit to the nearest dollar, she got an extra :) My Processor was off on Thursday and Friday of last week. I had someone call and leave a message for the borrower on Friday, May 6th and he sent a detailed email explaining the above costs and credits. The borrower's processor is back in today and has already left a voice msg for the borrower to call her this morning, Monday, May 9th. If the borrower would like to talk to me direct please have her call me @ ###-###-#### Dan R*** (owner)

I have not heard from Mr. [redacted] until this review.  I was unaware that we did not issue him a credit at closing.  I have already resolved this issue by sending out a check on 01/04/17 for the amount of the appraisal paid by Mr. [redacted] as promised and advertised. I understand it was an...

oversight on our part and should not have taken so long to acknowledge the issue.  This is not a normal practice and will not happen again.  Please express that to the borrower and thank you for bringing it to my attention. Dan R[redacted] - Owner

2 items addressed here:1. This loan was closed for incompleteness.  We have requested income documents several times, verbally and electronically.  We have had the same request for documentation since the origination of the loan refinance.  We received many documents from the...

T[redacted], but never all of the requested items.  There were several attempts to explain that we did not receive everything.  The response from the T[redacted] was ultimately to send their documentation back to them.  Which leads us into the next topic.2. When we received the request for documentation be sent back to the T[redacted], we discovered that ALL of the documentation we received was electronically(via fax).  So we printed the items and sent that documentation back to them.  We never had any originals given to us. We are more than willing to continue the process of refinancing as long as we can obtain the correct documentation from the T[redacted].

[A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
Revdex.com:
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 will wait until for the business to perform this action and, if it does, will consider this complaint resolved.
Regards,
[redacted]

[A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
Revdex.com:
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 will wait until for the business to perform this action and, if it does, will consider this complaint resolved.
Regards,
[redacted]

below is the email we received when we asked about the appraisal fee.  This email and the tag line in all email signatures "NO COST LOAN" led us to believe that the credit would be to our credit card.  It is instead factored into the credit established to create an escrow account.  That is misleading.Good morning! In the case that your home does not appraise high enough to remove the monthly MI and you opt NOT to go with a Lender Paid MI loan; you do not get reimbursed for the appraisal fee paid up front.  We issue a credit at closing for your out of pocket cost of the appraisal if your loan closes. Please let me know if you have any further questions! Thank you,[redacted]

the reason that they did not commit was there letter stating-no cost 30 year fixed at 3.50 APR,AND CALL NOW AND MAKE NO PAYMENTS FOR 2 MONTHS.WIHCH THEY WILL NOT HONOR'second what would be the reason to KEEP ALL MY PAPER WORK.I WANT IT BACK JUST THROW IT IN AN ENVELOPE PLEASE AND MAIL MY PERSONAL DOCUMENTS YOU HAVE MADE COPIES OF.NO NEED TO HAVE MY S.S NUMBER,MY BANK STATENTS WITH ALL MY ACCOUNT NUMBERS.WHY WOULD YOU NEED THEM? I have 23 e-mails on file with requests  I RECIEVED ON APRIL 5TH AN E-MAILFROM CARRIE F[redacted] THRU CHRIS the letter states we have your appraisal .heading to the underwriters .we should close next week -SORRY FOR THE DELAY CHRIS HELPED ME WITH THE QUESTIONS ON YOUR FINANCES------------------

We are not appraisers and do not determine value.  We have no control over appraisal work and by design don't even have any contact with the appraisers.  We order and receive appraisals through 3rd party management companies as does all mortgage lenders.  This seems to be a complaint...

with the appraiser and/or with appraisal management company.  Their information is on the appraisal document that the borrower already has.  We did not receive any funds from the borrower other than authorization to order an appraisal with her payment going directly to the appraisal management company who coordinates the completion of the appraisal. We have questioned the appraiser and requested that he reconsiders the verbiage used to describe and compare the home to other homes with the [redacted].  His response was not favorable.  He was unwilling to change anything.  We are willing to dispute the appraisal given any pertinent information that the borrower has to offer.  We are also willing to order another appraisal at the borrowers expense.  If there is a better outcome, we will be happy to close a qualified loan and would reimburse both appraisals upon closing of the borrowers loan.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted] and find that this resolution would be acceptable to me; however, the complaint is not in regards to the appraiser. I requested a second appraisal the day the denial notice was emailed to me; and was told by Roger, that "unfortunately" all appraisers would list it as over improved; which is why I I was shocked that our 2nd appraiser came back with a different outcome.  This is the whole reason for the complaint, when I called with this new appraisal, I was turned down and Roger was unwilling to even look at it. I will wait for the business to contact me, to perform this action and, if it does, will consider this complaint resolved.
Regards,
[redacted]

Unprofessional. They overpromise and underdeliver. We went through the refi process for a 10 yr loan, We were told a specific rate & thus proceeded. We provided all financial info in a timely manner. Our credit is strong. No appraisal was needed due to our equity. Melissa was great with the underwriting, and it was ready to go in for a final review. I asked Melissa to verify the rate before we signed the final paperwork from her because my friend who was working with them gave me a heads up that they weren't able to honor the rates they had told other clients. She said she'd have someone contact me. Then, nothing. No one called. My husband asked Melissa about this and she said she'd have someone call. Again, nothing. My husband wrote an email to our other contact there and finally received a response stating we couldn't get the rate we were told initially. My initial contact was with Mike B[redacted].

Everyone that worked on our loan from first contact with the company to closing was a positive experience. Very quickly we were assigned to Loan Processor Julie A[redacted]. She was Wonderful to work with! We came to see that she was highly skilled at her job,cared about us and worked long hours for her clients. It was amazing how quickly she answered every inquiry or request for help with something we made. In her expert hands our personal information was safe, and she she concluded our loan without issues.

Melisa D[redacted] was exceptionally helpful and friendly. I am not a financial expert but I did some research on mortgage options. Once I spoke to Blue Brick Financial, I ended my search and had great service from open to close.

Thank you Melisa!

I have reviewed the response made by the business in reference to complaint ID [redacted] and find that this resolution would be acceptable to me; however, the complaint is not in regards to the appraiser. I requested a second appraisal the day the denial notice was emailed to me; and was told by Roger, that "unfortunately" all appraisers would list it as over improved; which is why I I was shocked that our 2nd appraiser came back with a different outcome.  This is the whole reason for the complaint, when I called with this new appraisal, I was turned down and Roger was unwilling to even look at it. I will wait for the business to contact me, to perform this action and, if it does, will consider this complaint resolved.

Regards,

Had an overall excellent experience, especially working with Julie A[redacted] the loan processor. I'm very pleased with the final result, I got an excellent loan with no expenses.

I was a little surprised at the total time that the entire process took, but that may be specific to my situation and the requirements of the lender.

I have been extremely satisfied with my experience through Blue Brick Financial. There were a lot of of hiccups along the way (half of them were my fault), but my loan processor, Julie A[redacted], worked tirelessly to get the issues resolved and get my loan closed. It was a no cost refi and I pulled cash out. I am a very happy camper!