DLJ Financial Inc

Ms***
RE: ID ***
I wanted to provide a 2nd follow up to the original complaintAfter receiving a rebuttal to our response, we
determined that it would be more effective to have our business director *** *** contact the client and address his
concerns directly I'm happy to report after trading messages a few times they were able to speak about the
processOur Director Mr*** and Mr*** had a productive conversation where DLJ outlined the specifics by lender that were unsuccessful in obtaining an approvalPerhaps what I'm most pleased with is Mr*** outlined what our client could do moving forward that would improve Mr***'s ability to obtain financing for his enterprise in the future
Those details were followed up additionally in an email which is listed below for your referenceI'm sincerely hopeful this has been helpful for both parties and we have successfully addressed the concern and provided thoughtful counsel for this clientFinally, I hope that we may be able to assist Mr*** in the future
Best Regards,
*** ***
DLJfinancial

We are in receipt of your letter dated May 6, 2014 regarding an issue raised by an applicant at
DLJ regarding one of our service representatives. We wanted to respond promptly as we take
this type of matter very seriously. We agree that there are two sides to the story and...

appreciate
the opportunity to respond.
We carefully investigated the (ID [redacted]#), and interviewed the team members who worked
with the applicant. Clearly, we are disappointed the applicant had an unsatisfactory customer
experience with our firm. Here is our summary about the case, which hopefully clarifies and
resolves the issue:
4.11.2014 we submitted to the 1st lender.
4.14.2014 the 1st lender declined because the industry is restricted.
4.17.2014 we submitted to Lender #2.
4.22.2014- Our service rep emailed the applicant on status as well as informed them we were
waiting to hear back from the 2nd Lender. (copy of email is attached for reference)
4.30.2014- 2nd Lender declined. (Upon investigation the delay with the lender response was due
to Passover)
4.30.2014- We submitted to a 3'ct lender: Again, we were unsuccessful in gaining an approval
for applicant. This time the lender decision was based on minimum bank deposit and balance
requirements.
4.30.2014- Applicant contacted our Director of Sales. Our Director contacted applicant back
immediately. Our Director outlined all our efforts on their behalf to obtain a business loan they
would qualify for. Applicant indicated to our Director they had never been called ore-mailed
with any updates. Our Director subsequently on the call shared an example ofthe 4.22 dated
email from our service representative to the applicant. According to our Director the applicant
was able to locate our email sent to him while they were on the phone.
We recognize the customers' perception is our reality. While we certainly have records of our
correspondence with the applicant; in their view we didn't stay in contact with them enough in
this process. We should have over communicated every step of the way while we were diligently
trying to identify a program he would qualify for with all our approved lenders. We appreciate
his feedback and will apply their suggestions internally.
Finally, it should be noted the only credit inquiry with the applicant was run by our firm at the
outset of the application process, which was agreed to in advance by the applicant. None of the
lenders we worked with ran the applicant's credit.
We are proud of our reputation of successfully serving hundreds of happy clients, and many are
return clients. In this case we just should have communicated more frequently with this
applicant. Regrettably, despite our best efforts we were unsuccessful in obtaining a solution that
would this applicant would qualify for.
We appreciate the partnership with the Revdex.com and hope this demonstrates our
commitment to clarify and resolve any questions.
Respectfully submitted,
[redacted]
President
DLJ Financial

I started with DLJ financial in July of 2015 they contacted me after I responded on line that I was looking to refinance my home. I was working with [redacted], I provided all the income documentation they needed and I also explained that I needed this done as soon as possible. They requested the same information several times and I provided everything they needed as soon as they asked for it. I signed the disclosures and then they ordered an appraisal, the appraisal was done however there were problems with it when I brought it up they advised it didn't matter. Then when my loan was sent to their senior underwriter [redacted] he then again requested the same financial information I gave to [redacted], again I sent in everything they asked for. It is now the end of September and for the last month I have still not received an approval or denial for my loan. They have been stringing me along I call and email and I am told that it is being worked on. This is ridiculous I have been waiting and waiting I have neither been approved or denied and they collected $450.00 from me upfront for an appraisal and that appraisal was not done properly. Again I am still waiting and I feel I am just being strung along and I am not given an answers.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
The issue with this agency was not their timeline of events, it was the constant misinformation and multiple promised dates to receive a response that was not only missed, but completely unaddressed for a few weeks at a time. When I called for a "status update" the rep said we will have an answer tomorrow, then again tomorrow and then no response for over a week. I called multiple times that week, and the following week with no response, left several voicemails with no response, and emailed with no response.
I stressed the urgency of timeliness of getting confirmation (whether approved or denied for any loan type) upon agreeing to work with this agency, and my constant requests for an update was ignored and put off.
The issue was not whether funding was approved or denied. The manner which everything was handled was highly unprofessional, inconsiderate and of poor ethics. I did not receive any correspondence of the denial from the "two or three additional lenders" until several weeks after my multiple requests for an update, and ultimately after the complaint was made to upper management. To date, I have not received any information about the additional lenders that my file was submitted to, including names of the company, location, lending criteria, etc.
Collectively there were false promises and constant mis-directions about the status of this file, with no information about the "lenders" my file was submitted to.
If the commitment was as thorough as the company president suggests, they would have reached out to at least provide the information on the lenders the file was submitted to, and why it was declined. They chose however, to ignore and avoid this issue in the same manner in which they did while allegedly working on my file. To date, I have absolutely no information about where my file went, or even why it was denied to the last 2 or 3 lenders.
Regards,
[redacted]

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution would be satisfactory to me.  This issue has been resolved and I am content with the matter in which this was handled.
Regards,
[redacted]