City Capital

Review: Applied for. Home loan from city capital mortgage banking corp through one of their mortgage brokers [redacted], after being per-qualified, finding a home, made an offer which was accepted, secured a lawyer, homeowners insurance, signed a contract, received a commitment letter, paid for an inspection and appraisal, in the week of closing, the mortgage broker disappears!!!!!! No one, and I mean no one( myself (buyer), my lawyer, my agent) was able to get a hold of him via telephone, email, or text. The company, City Capital, refused to give any info about him or his whereabouts. In the end, a week after the arranged closing date after being threatened with a lawsuit, the broker finally returns with an EMAIL stating that the bank had cancelled the loan, with the reason being that e commitment has expired. Now the sellers attorney refuses to return the down payment that was made. Mean while I'm out of my down payment, appraisal fee and inspection fee. I have yet to hear from this mortgage broker [redacted].Desired Settlement: $450 for home inspection$550 for home appraisal$12950 for down payment$1250 attorney fees

Business

Response:

Dear [redacted],

We are in receipt of a letter dated Wednesday September *, 2013 from the Revdex.com in regard to a complaint you filed with them for a home loan application you placed with us. have personally reviewed your complaint and the loan application file and my findings are as follows:

1. We issued our commitment letter with required conditions on 6/**/13. The commitment clearly indicated that it needs to be accepted and fully executed and returned within ten calendar days (item #15 on the commitment). We never received the fully executed commitment.

2. The special conditions set forth on commitment were never met nor satisfied.

3. The closing could not have ever been scheduled because these conditions were never met.

4. [redacted] was questioned in this matter; he indicates that he had numerous meetings and conversations with you, your attorney and your agent.

Finally we sincerely feel bad about the seller's attorney not returning your deposit on contract.

However, we believe this matter is beyond our control and should be referred to your attorney based on the mortgage contingency on the contract of sale in order for you to get your deposit on contract returned.

[redacted] President

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID# [redacted], and have determined that my complaint has NOT been resolved because:

I have more than proof from my attorney, my agent and myself that [redacted] did not do his job in promptly forwarding the commitment letter to my attorney and after learning of the clising date that was agreed upon by both parties involved his reply was "dont worry about it" after his failure to respond to numerous calls, text messages, emails, etc the closing never happened and only after he was threatened to be sued by my attorney he responded with a text message to me say "i was away for the weekend" I have nothing to gain by lying and have lost alot because of [redacted] and his unprofessionalism and lack of work ethics. I have proof both text and emails that proves all my claims.

In order for the Revdex.com to appropriately process your response, you MUST answer the question above.

Sincerely,

Business

Response:

Dear [redacted],

We are in receipt of a letter dated Wednesday September **, 2013 from the Revdex.com in regard to your reply to our answers to your complaints.

Your reply does not change the fact that our commitment letter with required conditions dated 6/**/13 that clearly indicated that it needs to be accepted and fully executed and returned within ten calendar days was never received by us. As well as the special conditions set forth on commitment were never met nor satisfied. Therefore the commitment became null and void as specified on our commitment.

We regret the fact that the sellers are not returning your down payment and we still believe that this matter should be referred to your attorney to get your down payment back based on mortgage contingency on the contract of sale.

Respectfully Submitted

President