Congressional Bank

October 8, 2014To Whom It May Concern: The Bank has received the second request regarding compliant, case # [redacted] We apologize for the delay in responding, however have updated our contact information as of 9/26/and believe this will eliminate any future delays in responding to customer concerns.After a review of the complainant's file it was determined that American Bank and their employees handled the application in accordance with all applicable laws, regulations and Bank policiesThe applicants applied for a VA loan on July 31, and estimated the value of their primary residence at $175,The appraisal of the property was completed on August 16th and received by the Bank on August 25th with an appraised value of $105,Unfortunately due to the value of the home there were no loan products available and the application was denied because the value of the collateral was not sufficientIn accordance with regulations a copy of the appraisal was provided to the applicants, as well as an adverse action notice identifying the loan denial reasonA Bank employee also spoke to the applicants explaining the circumstances regarding the loan denialAmerican Bank works very hard to satisfy all of our customer needs and to ensure customer satisfaction in each transaction and regret that due to circumstances beyond the Bank's control we were unable to approve the complainant's requestWe have attempted to reach out directly to the applicant, however have not received any additional communication from the messages left.Any additional comments or questions can be directed to the corporate offices at ###-###-####SincerelyKatie D VP, Compliance

September 30, Dear [redacted] American Bank is in receipt of your correspondence from [redacted] , and has responded to his request for a refund of $A letter of explanation and the check in the amount of $were mailed to [redacted] todayAmerican Bank apologized for the poor communication and lack of response he experienced throughout the loan application processAmerican Bank works very hard to satisfy all of our customers' needs to ensure customer satisfactionAfter reviewing [redacted] 's correspondence to the Revdex.com we researched the chain of events and we regrettably determined that his experience was not up to American Bank's standards and as such refunded the appraisal cost associated with their loan application.The Bank strives to maintain a rigorous training program as well as policies and procedures to prevent such situations and customer feedback allows us to further enhance these programs.Sincerely, Joy K, SVP, Compliance Officer

[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 ***, and find that this resolution is satisfactory to me.
Regards,
*** ***

November 7, To Whom It May Concern:
The Bank has received the rejected response in regards to case #***The applicants provided no additional facts in their rejection of the Bank's responseThe Bank stands by its independent review of the loan file and the findings that the application was handled in accordance with all applicable laws, regulations and Bank policiesThe applicants applied for a VA loan transaction and authorized a credit inquiry in order to process a request for creditThe applicants then paid for an appraisal that was completed on August 16th in which the value was returned $70,lower than the applicants estimated value on the loan applicationAgain due to circumstances beyond the Bank's control we were unable to approve the complainant's loan request.Any additional comments or questions can be directed to the corporate offices at ***.Sincerely
Thank you
Katie D***
VP, Compliance
American Bank
***

Good afternoon, Our residential mortgage division receives leads from credit bureaus for customers who have recently reached out to other mortgage companies for refinance opportunities.  If a customer meets the criteria we are seeking in applicants to save money on their mortgage, we...

enter their information in our marketing system and they might then receive a mailer or a phone call.   We apologize for any misunderstanding or concern that the customer faced in receiving our post card offering to review her current mortgage for potential savings through refinance.  [redacted] has been placed on our DNC- Do Not Call list and her name and address have been removed from our system for mailers.   Please contact me if you need further information or wish to receive additional clarification. Sincerely, Barbara C[redacted]Training and Development Manager6701 Democracy Boulevard, Suite 400 ? Bethesda, Maryland 20817###-###-#### Main   ?    ###-###-#### direct     ###-###-#### cellwww.congressionalbank.com

This has been the worst experience ever. With the excuse of many new regulations to comply with, our agent Vince C[redacted] at American stretched this agonizing process over eight weeks.
Always with the excuses for why he could not get back to us ... even got himself off the phone with me one day by saying "I'll call you right back!" Never heard from him until later the next day. More excuses of too many closings.
At our closing, which was at 8 PM because they could not get the paperwork done and over to the closing agent, we were presented with over $9000 in extra closing costs that were NEVER disclosed ... and more excuses for that.
DO NOT do business with these charlatans. Find a bank with integrity

Hey [redacted], 
This is [redacted] from Charlotte, NC. My account code is [redacted] and it has to do with a complaint about American Bank on a mortgage and I got your email back that they haven't responded and I think I know why. I mean, this company is extremely shifty and shady and...

I want to give you a little brief history. Now I was told, clearly told by their representative, I told him what my goals were, told him exactly what was on line 43 on my tax returns, gave him all my information, time on the job, everything that he knew to make an intelligent, informed decision, and he put me on hold and came back and said, 'I talked to my manager and we can get this done." Well, got everything down, I said 'Listen I don't pay for an appraisal, I don't want to spend any money if this cannot be done the way we've discussed which was not having anybody else on the paper, a co-signer. And, he said no, talked to my manager, it's done. Just give me the information, we're good. So I spent the money for for the appraiser, you know, did all that, which was a lot of money and the company came back and he said, Well now we're gonna have to have somebody on there. And it was just real shifty. They kept going back and forth as to the reason why. And they knew all of this upfront. Everything that they said was the reason they knew that upfront. So I started talking to this gentleman's supervisor. And what he kept trying to sell me on, [redacted], was go ahead and do it now and we'll do it again for free to get the co-signer off 4-6 months down the road because there was a four month window where I would be on the job two years or whatever, and I just thought, you know, why not just wait, give me my money back and I'll come back to you if you do the right thing. Well, and he kept going back to that. Well then the Regional Manager got involved and he was a little more professional. I thought I got the right guy but in the end he started taking the same stance, 'Why don't you just let us do this loan and we'll do it for free six months down the road.' All they were interested, [redacted], was just churning me, getting me through the system. And the guy, the Regional Manager said, 'OK, let me do my research. I'm going to go listen to the Voice, the conversation because we record it. And I said well, can you do me a favor, can you send me a copy of that because your guy did say several things that was totally inaccurate, I'd love to have that for my records. He said Oh no, we're not gonna give you that. And I said, well I looked you up and there were a lot of complaints out there about you guys and the way you do things and it's supported, former employees on one website supported the fact that they don't insure people and do some things that are a little shifty. And he said, Oh well, we take care of all of our complaints that show up online. And that's my whole point, [redacted], the reason I'm telling you this is they're not going to respond unless they see a complaint out there on your website. So if I need to reword mine and clean it up a little bit, make it a little more concise, I'll do that but if you guys don't post, they won't give me a refund. But I would be willing to bet you anything that if you put it on your website, my complaint, that we will get immediate action and they will refund me because he told me that they have refunded people when they complained to the Revdex.com. And it was only the ones, I'm sure, that made it out there and people could read the transactions and stuff. So they're slick, they're super slick and I just hope you can help me with this cause I know I can get my money back but they're not gonna do it unless we cause them a little bit of indigestion. My number is ###-###-####. Again this is [redacted], NC. Talk to you soon.

To Whom It Concerns:
This customer applied for preliminary financing approval- which is what a pre-approval is- we review credit and general income in a phone application -and issue a pre-approval for financing based on credit report and automated Underwriting. 
We use a...

compliant pre-approval template- which states that final approval is subject to a full underwrite of the loan and the customer sending us supporting documents for income.  The borrower's income was not reported through tax returns and W2's- and when we asked for income verification- we could not support a two year history per agency guidelines.  Please reach out to me if any further information is needed.

September 30, 2014
Dear [redacted]American Bank is in receipt of your correspondence from [redacted], and has responded to his request for a refund of $450.00. A letter of explanation and the check in the amount of $450.00 were mailed to [redacted] today. American Bank apologized for the poor communication and lack of response he experienced throughout the loan application process. American Bank works very hard to satisfy all of our customers' needs to ensure customer satisfaction. After reviewing [redacted]'s correspondence to the Revdex.com we researched the chain of events and we regrettably determined that his experience was not up to American Bank's standards and as such refunded the appraisal cost associated with their loan application.The Bank strives to maintain a rigorous training program as well as policies and procedures to prevent such situations and customer feedback allows us to further enhance these programs.Sincerely,
Joy K, SVP, Compliance Officer

October 8, 2014To Whom It May Concern:
The Bank has received the second request regarding compliant, case #[redacted]. We apologize for the delay in responding, however have updated our contact information as of 9/26/2014 and believe this will eliminate any future delays in...

responding to customer concerns.After a review of the complainant's file it was determined that American Bank and their employees handled the application in accordance with all applicable laws, regulations and Bank policies. The applicants applied for a VA loan on July 31, 2014 and estimated the value of their primary residence at $175,000. The appraisal of the property was completed on August 16th and received by the Bank on August 25th with an appraised value of $105,000. Unfortunately due to the value of the home there were no loan products available and the application was denied because the value of the collateral was not sufficient. In accordance with regulations a copy of the appraisal was provided to the applicants, as well as an adverse action notice identifying the loan denial reason. A Bank employee also spoke to the applicants explaining the circumstances regarding the loan denial.
American Bank works very hard to satisfy all of our customer needs and to ensure customer satisfaction in each transaction and regret that due to circumstances beyond the Bank's control we were unable to approve the complainant's request. We have attempted to reach out directly to the applicant, however have not received any additional communication from the messages left.Any additional comments or questions can be directed to the corporate offices at ###-###-####.
SincerelyKatie D
VP, Compliance

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed Administratively Resolved]
 Complaint: [redacted]
I am rejecting this response because:From: [redacted]<[redacted]>Date: Mon, Oct 27, 2014 at 1:26 PMSubject: RE: You have a new message from the Revdex.com of Metro Washington DC & Eastern Pennsylvania in regards to your complaint #[redacted].To: "[email protected]" <[email protected]>
Most of this is a lie. No calls have been returned since the 1st date that I noted on the complaint, until the day I received your email at which time we received a phone message letting us know that it was the lady from American Bank that we filed a complaint against she gave her number we called back immediately since we only couldn't get to the call in time before machine picked up. We left a message to her that we were returning her call, since no one would answer just like in the past. To this day no return call or missed calls are appearing on our voice mail. We just feel that if we were going through Obama's Harp program where no appraisal fees or credit checks were to be set, as we were initially told on the phone, if they couldn't help us than they should have let us know right away, not tell us we were all set, than take our money and run!