Commonfund Mortgage Corp.

Revdex.com:I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this does not resolve my complaint.  For your reference, details of the offer I reviewed appear below.If you look at the date of the letter stating that I give Commonund permission to speak to my wife regarding any and all communication it shows the date of OCTOBER 26th 2015... which is almost 1 month into the process which make their claim null and void.. This letter was demanded by the company in order to continue process from that date because they clearly realized their lapse in judgement. The fact of the matter is Common fund is illegally accessing information from clients without getting verbal verification from said client... Common fund's failure and neglect to do this just goes to show the incompetence and unethical behavior of this company. Second, the first credit pull the company did was on SEPTEMBER 9TH 2015 not the 30th which supports my facts that the company pulled my credit score without consent from me the client. Lastly, the companies comical response that they did not know I withdrew my application is at best laughable! I have attached email proof I requested a refund for services after verbally telling them I was not continuing with them. This is the truthful account of the what actually happened not the lies on top of lies Commonfund is claiming.  It's clear from past customer complaints to the Revdex.com that Commonfund has shown to be a company that is sub-par at best when it comes to dealing with their clients.  I will also be following up with the NYS board of licensing regarding the appraiser situation.Regards,[redacted]

This letter is in response to your inquiry dated November 19, 2015. It addresses the specific complaints listed in the Customer's Statement.First, the complaint states that our company pulled the customer's credit report without his authorization. His statement is inaccurate. On 9/30/ 2015 he signed...

both a Fair Credit Reporting Act Disclosure and New York Fair Credit Reporting Act Disclosure both of which state very clearly "we will request a consumer credit report" and "subsequent consumer reports ... may be requested or utilized ... "Copies of those documents signed by the Customer are attached here to. The credit inquiries were made as part of the routine loan commitment process.In addition, he claims that "numerous hits" have " ruined his credit score." There may be other reasons why his credit score was negatively impacted but it certainly had nothing to do with the two inquiries made by this company.Second, the complaint objects to our company not speaking to the customer himself. However, the complainant specifically authorized our loan officer, in writing, to speak with his wife as he is.. unavailable throughout the day". A copy of that written authorization is attached. Further, even if the customers complaint , he states that his wife "had been handling all communications up to that point."We followed the customers expressed directions. His complaint is unfounded.Third, the customer makes a claim of unethical practices by use of a specific appraiser during the loan application process. This claim is specious at best. Please note that the appraisal company, [redacted] is not affiliated with Common fund Mortgage Corp. Use of that firm is not illegal and does not violate any mortgage banking rules or regulations. Moreover, the appraisal obtained as part of the loan valued the property in excess of the loan amount or purchase price. Therefore it in no way negatively affected the outcome or decision of the customer's mortgage application or his credit score.Fourth, the customer complains that our company somehow deceived him into believing that his loan would be funded "without fail" and that we "dragged [him] through 45 days of hell." In fact, the customer applied for the purchase money mortgage on 9/30/2015, received the appraisal on 10/15/2015 and received a formal written commitment on 10/30/2015. This is a typical time-frame for the issuance of such commitments. That written commitment contained a condition regarding proof of rent paid ori their current residence. The customer was unwilling to satisfy that condition. Any reason for not moving forward falls squarely with the customer.Fifth, the customer demands the refund of his application and appraisal fee of $525.00. Customer signed a New York Banker Application Disclosure and Fee Agreement upon application. That document clearly states that the fees are not refundable. A copy of that Agreement is attached. Therefore he is not entitled to a refund.Finally, it should be noted for the record that the customer contacted at least one other lender and began the loan process with a new company. His complaint to the Revdex.com was made on November 4, 2015,just 5 days after the loan commitment was issued. Neither he nor his wife ever contacted Common fund to advise us that he would not be continuing with his loan application. It was only after we received the 11/19/2015 letter from the Revdex.com and a subsequent telephone call from the seller's attorney on 12/3/2015 that we learn that the customer intended to withdraw his application.This is a truthful account of our experience with this customer.Very truly yours,Common fund Mortgage Corp.