Caliber Home Loans

I've been going around in circles with this company for the last year and a half. I needed a simple modification after my husband left and it's turned into the world's largest fiasco. I've submitted full paperwork to them no less than three times and they only (finally) started working with me after I filed a formal complaint with the State of Michigan. I finally got the modification but now they show no record of my last 3 payments and are sending threatening letters AGAIN. Any time you call the ONE phone number provided for them you can't get past the call center to actually talk to someone who can accomplish anything. I honestly don't believe for a minute that this is a legitimate company. I think there's some kind of scam going on.

We recently refinanced our home with Dave [redacted] with Caliber Home Loans. It was an enjoyable experience. Dave went "above and beyond" for us, assisting us every step of the way. He is professional, knowledgeable and personal and very easy to work with. I highly recommend him and Caliber Home Loans. Dave made what can be an arduous situation easy. Call him up if you are in need of financing, he will help you.

The following email sent to the company in reference to having our PMI removed was COMPLETELY IGNORED by Caliber Home Loans. (I have ommitted names/addresses for privacy purposes.)
There is no excuse for a complete lack of response (regardless of the final ruling) when a [redacted] is paying hundreds of $'s for an appraisal in the hopes that thousands of $'s may be saved in the future. Maybe the points made in the email to the company would have changed their ruling and cost them money??
Also, if you try to have your 'Privacy Choices' modified you will have a difficult time. You will recieve no 'enclosed letter' as stated. The phone # to call instead is 'out of service' and the email that you are supposed to use is 'restricted' when you send it.
Finally, the company's Home Page system inexplicably purged my username/password [redacted] their records several months ago. After getting shuffled around in phone-tree purgatory multiple times over a period of at least 1/2hr I was given a 'solution' by a less-than-helpful staff member and the line was disconnected. The solution was not. I have not been able to log on since.



To whom it may concern:

My husband & I recently received a letter dated 3/18/15 re: Account # [redacted] and a copy the re-appraisal by Richard [redacted] dated 3/5/2015. After reviewing all of the documents, I have the following questions:

1) Please provide me with a specific accounting as to how exactly Mr. [redacted] calculated the "Final Estimate of Value" of $685,000?
~ In his appraisal, he used 5 comparable sales & other market information but I cannot for the life of me figure out how he reached the value he did.
~ I am an attorney and have calculated every possible permeantation given the 5 comparables cited/info in his appraisal & there is no way to credibly come to this value.
~ Given Mr. [redacted]'s comparables/information considered/market trends, the value of our home should be valued at no less than $700,000.
2) How can I appeal or challenge the appraiser's estimated value of our home?
~ As stated above, I believe the value assigned by Mr. [redacted] is low and inaccurate
~ I also believe that some of the comparables he used we not in fact acceptable comparables even though they are located within a mile of our address.
a) Comparable Sale #X - XXXXX [redacted] Street:
- Conveniently, there are no interior/exterior photos but looking on Redfin (or any reputable website) you can easily see that the Newland home is:
* 13 yrs older
* located on a major street & in a less desirable area/neighborhood
* abutts a major slope & overhead lines
* the bathrooms/kitchen are not updated & are in significantly worse condition than ours
* the yard/landscaping is overgrown & somewhat unkept
* the curb appeal/exterior of the home is not even close to ours
- Yet despite this obviously inferior property is improperly included as a comparable to reduce the value of our home. This is not acceptable.
b) Comparable Sale #X - XXXXX [redacted] Ln:
- Mr. [redacted] failed to indicate that this is the EXACT same home/floor plan in the same neighborhood tract as our...in fact, it is literally a 1 min walk from our home
- Again, there are no photos but Redfin shows that the Phoenix home is:
* built in the same year
* located in the exact same neighborhood
* the kitchen/bathrooms are updated comparably
* the yard & landscaping are also comparable
* the curb appeal/exterior of the home are comparable
* although the square footage of the Phoenix Ln home is slightly different, the homes are essentially the same
- Yet this very similar property is valued @ $489.22/sq ft
~ In comparison, our home is valued @ $685,000 or $451.22/sq ft
~ The difference between our home & the [redacted] Ln address is nearly $40/sq ft...that is ridiculous & inaccurate.
3) Why must the LTV ratio be below 75% rather than the 80% (which was reference in our contract & your original letter) before PMI can removed?
4) I would like to Re-appraise our home again in the future to try & get the PMI removed. When can we do that again? What are the costs/rules associated with requesting this again?

I thank you in advance for your prompt response to all of my questions and I look forward to your response,
[redacted]

Horrible experience! After working on my credit for nearly a year, my scores finally reached where they needed to be. Then, the runaround! The loan officer we were dealing with wouldn't return calls or emails and when we did catch her, she asked for the same info over and over again. Every week she "had to upload my credit report", whatever that means. So now, after wasting months with them, I am searching for a new lender. These people don't care about their customers.