Dynamic Equity Partners Reviews (%countItem)
Dynamic Equity Partners Rating
Address: PO Box 85, Huntingdon, Pennsylvania, United States, 19006
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They promised to do a loan for me and cash me out on a house I am remodeling. They charged me $600 for an appraisal that is now totally worthless! They lied about the amount of cash I was suppose to receive at closing. Whenever I confronted them about ripping me off $226,000 they decided to end my whole deal! Now I'm out $600 plus $800 for an insurance policy plus all of the money I spent remodeling my house upto the point of them crushing my deal! These guys are a complete SCAM! They never ever complete deals! They are an absolute FRAUDULENT company and I will report them to the FCC next!!
Hi ***,I am responding to the above referenced complaint. This individual is the most despondent and unreasonable client we have ever had the displeasure of working with. In fact he threatened me with violence in the form of physical confrontation and then alerting me to the fact that he was a registered gun owner and I " better tread lightly" I can send you his stream of inane texts. We performed as required, he was never promised the lump sum of cash at closing. We are a renovation company and we wire funds to borrowers based on a future value of the property as the work is being done. We control the funds so that borrowers dont just abscond with the money and not do any work. In this particular instance this individual grossly misrepresented his credit disposition, he stated his score was a 580 but in fact it was a 508 when we pulled it, he stated he was not in foreclosure but in fact when we accessed the credit he was in active foreclosure. We agreed to still close the loan for him but of course control the flow of funds as the work is being completed as we do for all of our loans. He didnt like this and became very enraged as he had been the entire loan process and began to conjure up aspect of the of how he felt the loan should work but was never stated to him on our end. I have a litany of clients you can speak with all with resounding accolades in relation to our company and the astute level of service we provide. This client simply was very demonstrative from the beginning and that discourse continued through out the entire loan process and finally culminating in a complete melt down when we pulled his credit once the file got to underwriting and saw what was really going on. He is welcome to take the appraisal to another company and we will have it reassigned. We cannot work with someone who threatens and was as wildly furious as this individual was. In fact I am calling the *** state police to send them the texts now which details his threats with physical violence and employing instruments such as firearms so that I may "tread lightly". Please feel free to call anytime. Thank You, Sincerely,Dalton H | Credit Risk Manager
[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 as Answered]
Complaint: ***
I am rejecting this response because this company clearly scammed me out of $1400. Why would they wait to pull my credit until 12hrs before closing? I have done hundreds of rehab loans. I have been in the rehab/house flipping business for over 23yrs. I can't say the same for Dynamic Equity Partners. They have ONLY been in doing loans for less than 3yrs! There is a clear MISREPRESENTATION of what they promised to me and how UNETHICAL they are! I have numerous emails and text messages from the "Dalton" the "Risk Manager" who acted like I was so "disorganized" whenever my wife emailed him the same documents over 10 different times! I even have an email of Dalton saying "Oh I'm sorry I thought that this was a different Tom"? I have never in my life been treated so disrespectful and lied to by a rehab lender. It is STANDARD PRACTICE to pull an individual's credit the moment the lender receives an application!! So why would they charge me $600 for an appraisal plus tell me to pay for insurance on the property to only then MISLEAD me into thinking that I was going to get a loan for $267,500 see the original attachment and Letter of Intent!! Then 12hrs before closing completely change the ENTIRE deal and then cancel the deal whenever I questioned their ethics and standards!! I believe that this company is a COMPLETE FRAUDULENT BUSINESS and they DO NOT close loans because they tried to find whatever reason not to close mine and they were successful doing so. Now I am out $600 for a totally worthless appraisal because NO other lender will accept an appraisal done for someone else! Ontop of the $600 I am also out of pocket $800 for a worthless insurance policy that I'm now stuck paying! I have already turned this FRAUDULENT BUSINESS into the FTC and they need to reprimanded for their UNETHICAL BUSINESS PRACTICES & FRAUDULENT lending practices!