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Drew Mortgage Associates, Inc.

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Reviews Drew Mortgage Associates, Inc.

Drew Mortgage Associates, Inc. Reviews (1)

Drew Mortgage failed to keep their commitment to refinance my home mortgage and not responding my call or email.On Oct 16, 2012, I got a call from the[redacted] of Drew Mortgage, Shrewsbury, MA. He discussed about the opportunity of lowering the rate by refinancing our home. My appointment was 10/19/2012 and got a very friendly reception, he was very fast in getting me the preliminary documents and very responsive to my calls.He checked my full mortgage credit report and went thru with me different refinancing options for different lower home appraisal values. He asked and got all our signed personal documents and let me know he would do a home appraisal and would get back to me. The Drew Mortgage approved the application at the rate of 3.875%. He was quick to respond until he got my approval for charging my credit card on 12/13/2012. Since then, I emailed him several times and finally one day I stopped by his office on 01/18/2012. He was quick to assure me that he would send me some other paperwork and the process would start rolling again. That was the last the communication. He is not responding my email or calls. My last email to him was on 03/24/2003.I can't understand why they wouldn't respond at all, and I am under the impression this should have been a quick process. Interest rate has increased substantially since then. I have missed the opportunity to refinance my loan at a lower rate. He pulled my credit, and has all my personal information, and now I feel like I need to start over somewhere else, and take another credit and interest hit. Desired SettlementAs customer we have every right to know about the outcome whether it is positive or not. I strongly believe that everybody should be aware of this type of bad customer service, which leads to mental agony and financial loss. I expect they will honor their commitment and refinance as they committed. They should be responsible for interest rate increase and missing my home refinance opportunity.Business' Initial Response Contact Name and Title: [redacted]Contact Phone: XXX-XXX-XXXXContact Email: [redacted]April 4,2013To whom it may Concern I am responding to a complaint that was filed with the Revdex.com on April 1, 2013. **. [redacted] was in the process of doing a refinance on his primary residence on a fixed rate product with a rate of 3.75%. His loan was approved in December and was subject to the home being valued at $260,000.00 based upon current sales comparable to subject and appraisers conformation came in at $230,000.00. At this time [redacted] and I met in my office to discuss the low value. What I had proposed was to see if there were any pending sales in the area that may help the value of his home. At the time in January there were none. Under regulations we cannot speak to appraisers therefore it was recommended that we have an automated value analysis done on the property. This could possibly show other recently sold homes that were not used in the appraisal. However this only showed that the value was similar to what the appraiser had come up with. While I had not seen any comparable properties that had sold in his area in February, I did take the time on a weekly basis to check and see what was coming on the market. Recently, I did notice a property was listed on agreement and during a conversation with [redacted] we discussed that once this property sells it may be time to look at values again. At the same time I discovered that [redacted]'s email was now going into my "junk email". I immediately forwarded him a copy of his email which was categorized "junk" and asked him to give me a call at his convenience. We have agreed to watch for additional sales and offered to reimburse for the appraisal fee to [redacted] if his home value in relation to loan amount does not fit program guidelines.Sincerely,[redacted] #XXXXX

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Description: Mortgage Bankers, Mortgage Lender, Mortgage Brokers

Address: 49430 Road 426 Ste C, Palm Beach, Florida, United States, 33480

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