Directors Mortgage

First, we apologize for the delayed response and appreciate your patience while we review the clients concerns. There are clearly two issues that Mr*** would like addressedThe first being that he was under the impression that he would receive $1,back at closingThe second being the
payment issue Response regarding the amount due at closingDuring the loan process, Mr*** negotiated a $1,home repair credit into the purchase/sale agreementMr*** was counselled by the Loan Officer and the Buying Agent that this amount would come in the form of a Seller CreditThis seller credit can only cover fees that the buyer actually incurs, it’s not allowed to be provided as cash back to the borrower in a purchase transactionThe seller credit initially negotiated was $5,and the borrower received a total of $7,towards closing cost at closing, which used $1,of the $1,credit negotiated as that was the amount of the buyer feesIn addition, the borrower did receive $2,cash back at closing Response regarding the payment issueThe loan was sold to an investor on 11/23/We provided the borrower with the transfer of servicing notice as required and we are prohibited from collecting payments once the transfer is completeWe have researched internally who may have called the borrower and come to the conclusion that likely the investor called as we don’t have record of making that call, nor would we attempt to collect a payment on a loan which we no longer hold. We apologize for the confusion Mr*** has experienced but it does not appear as though any of the allegations noted are accurate. Should there be any further questions, please let us know

Directors Mortgage has three ways for our borrowers toapply for creditThe first is through our web applicationAfter logging on toour website and clicking apply now, consumers would complete the applicationinformation requested, including all personal informationOnce all of
thisinformation has been provided their consent is requested to pull their creditby clicking the appropriate boxThe second way is when the borrower providestheir information directly to one of our licensed loan officers over the phoneand then their permission to obtain a copy of their credit report is requestedverbally at this timeLastly, if the consumer comes in to speak with one ofour licensed loan officers in person they would also provide all theirinformation for the loan application and would sign a borrower’s authorizationform in addition to giving verbal authorization for us to obtain a copy oftheir credit report