Embrace Home Loans, Inc.

Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does satisfy my issues and/or concerns in reference to complaint #***I understand that by choosing to accept the business response that my complaint will be closed as resolved.
Regards,
*** ***

Embrace Home Loans, Inc(Embrace) is in receipt of a notice of complaint from Mr***, and have reviewed his file to determine what might have occurred and how Embrace might respond.Upon our review, a representative of our servicing department reached out to Mr*** to advise that an error
had been uncovered, in that his homeowners insurance policy had been, inadvertently, paid twice, which resulted in an underestimation of his monthly escrow requirement. This did cause his escrow account to become short, and caused an increase in the required monthly deposit to resolve the shortage.Typically, such shortages are resolved by spreading the amount over consecutive months, which seems to have been the catalyst of his complaint. Embrace offered him the opportunity to extend that recoupment period up to months, in order to reduce the amount required each month. Mr*** declined the offer, and desires to repay the shortage more quickly, so he will abide by the month repayment.If you have any questions or concerns, please feel free to contact me at your convenience. *** ***, CCOEmbrace Home Loans, Inc

Revdex.com:I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # ***Please add your rejection comments below. I am due a refund for double insurance payments and an apology for poor record keeping from either Embrace/*** or ***.Regards,*** ***

Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # ***Please add your rejection comments below.
Regards,
*** ***

Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does satisfy my issues and/or concerns in reference to complaint #***It depends on how much a partial refund is considered to be by the Embrace Home Loan company!I understand that by choosing to accept the business response that my complaint will be closed as resolved, but will only accept after hearing how much of a refund I am being offered.
Regards,
*** ***

Embrace Home Loans is in receipt of a notice of complaint filed by Mr*** *** regarding a recent transaction he had for a mortgage loan from Embrace. After taking the opportunity to review the application file, Embrace was finally able to made contact with Mr*** to discuss the
details of the situation.We have concluded that while there was certainly no intentional effort to provide Mr*** with anything less than the terms and conditions for which he qualified, we have identified one area of miscalculation within the preparation of the loan that seems to be the cause of his frustration and concern. There remain a few items that are unclear in terms of execution, and Mr*** is preparing some additional information for us to help address those points.Regardless of that outcome, Embrace has agreed that it will reach out to him for the purpose of restructuring his loan terms as a good faith gesture.If you have any additional questions or concerns, please feel free to contact us at your convenience.*** ***, CCOEmbrace Home Loans, Inc

Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # ***this response was an automated response that the business also said after I questioned about the loanWhen I called, they first did not seem to care to even helpWhen I started asking questions the representatives tone got louder and was very standing off like I shouldn't be questioning anythingI read the advertisement to the rep, and was told that it was assumed that the audience would already know.
Regards,
*** ***

Embrace Home Loans, Inc(Embrace) is in receipt of Ms*** notice of complaint in regard to her recent mortgage application with Embrace, and has reviewed the file and discussed the circumstances with those persons involved to determine what led to the final conclusion.Much of Ms***
account of the processing is correct. The appraisal did come back with a value that was a little less than was anticipated, and there was some delay in processing the application. However, the factor that ultimately led to the final action was not uncovered until the Title Report for the property was received and indicated that there was an extraordinary easement attached to the property.The United States Department of Agriculture (USDA), via this easement, has a perpetual and unrestricted right to farm and harvest produce from about acres of this property - about 3/of the total property acreage. Given the unusual nature of this easement, Embrace turned to *** *** for an interpretation of their lending guidelines on this point. *** *** ultimately advised us that the easement was not an obstacle, but only as long as they did not actively farm and harvest from that acreage. However, since the easement gave USDA the right to do just that, Embrace concluded that the loan could not satisfy the *** *** lending guidelines due to the title situation.Ms*** frustration is certainly easy to understandThe Embrace staff that was assisting her with the file was equally disappointed when it became clear that we could not proceed to the closing of the loan over this issue, after having put a lot of time and effort into the process.However, there was never any attempt or intent to marginalize or restrict her loan opportunities. The appraisal was performed by an independent third party, unrelated to Embrace, and reflects a reasonable, professional assessment of the market value of the property.In regard to the 'selling' of the loan, Embrace, like any other mortgage lender, follows the lending guidelines of *** ***, *** ***, and FHA, which have become standards in determining the measurement of creditworthiness. Embrace does sell its loans on the secondary market to these agencies, but we are responsible for making the appropriate credit decision, and have done so in this instance.Again, we are equally disappointed that a prudent loan program could not be found for Ms***, but the conclusion was based on a title issue related to the property, a factor that was not available to Embrace until the very end of the process.If you have any questions or concerns, please feel free to contact me at your convenience.*** ***, CCOEmbrace Home Loans, Inc

Embrace Home Loans is in receipt of *** ***'s complaint requesting information about the re-cutting of proceeds checks from her recent loan. Apparently Embrace had received information regarding the alternative amounts several days earlier and was reviewing to confirm the situation
when the complaint notice was received. We were able to authorize the settlement agent to re-cut those checks on or about September 12.I sent an email to *** *** several days later to confirm that she had received them, but have not had a return response as of yet.If you have any questions or concerns, please feel free to contact me at your convenience.*** ***, CCOEmbrace Home Loans, Inc

Embrace Home Loans is in receipt of a notice of complaint from Mr***, suggesting that Embrace's processing of his application has been inconsistent with his expectations. Mr*** did receive a solicitation that indicated he had been pre-approved based on information Embrace had been
able to identify, and that a final loan approval would be based on the submission of additional information to support his creditworthiness, such as income and collateral verification.Embrace did receive various samples of supporting documents relative to its requests, and in review of them was able to identify that Mr*** had recently arranged for a new consolidation loan that had not been included in his credit file, nor disclosed on the application. The loan officer had contacted them to learn more about the debt terms and to determine how it might be managed so as not to present an obstacle to the mortgage financing.At this time, the loan officer and the applicant are discussing alternative options to bring the application to fruition.Embrace disputes the suggestion that it has acted inappropriately in this instance, or failed to provide professional services to the applicant.If you have any questions or concerns, please feel free to contact me at your convenience. *** ***, CCOEmbrace Home Loans, Inc

Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # *** We didn't get a appraisal fee so far from Embrace, therefore I would ask embrace to refund us for the inspection fee which was 345$.
Regards,
*** ***

Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # ***Please add your rejection comments below.
They (embrace loans) can not give me a response to when any action will be taken or if any at all ,so I rather not deal with them(embrace loans) any more because I think they'er scamming me
Regards,
*** ***

If the loan representative to whom Mr*** spoke advised him similarly to the text that was provided here today, then it would seem that he was made aware of the actual details of the loan program very early in his conversation. He would have been advised that he had been mistaken in the interpretation that the loan offer was for an unsecured consolidation loan, along with additional information that might be appropriate to disclose about the loan - such as the *** *** ***.All of these points were disclosed in the advertisement, and apparently made clear to Mr*** when he spoke with our representative. Of course, Embrace would have preferred that he were interested in pursuing financing via one of its loan programs, as our advertisement was intended to encourage, but apparently he did not.We feel that our advertisement is clear and forthcoming, and appropriately representative of the terms of the loans offered by Embrace

The complainant has not explained the reasons for his rejection, but Embrace stands by its earlier response

Embrace Home Loans is in receipt of a notice of complaint from Mr***, which suggests, among other things, that Embrace has encouraged him to have an appraisal of his home without having any intention of providing financing to him.Certainly, Embrace is in the business of originating mortgage
loans, and does not benefit in any way from simply having an applicant agree to an appraisal of their property. Every dollar collected from the consumer for the appraisal is in turn delivered to the appraisal company, and to do any differently would be an illegal act. Further, Embrace engages several different Appraisal Management Companies to manage the appraisal process for us to ensure that we have no direct contact with the appraiser performing the analysis.Mr*** has provided us with a copy of the appraisal that had been previously performed for his Credit Union, which did produce an estimated value of $195,000. Our review of this report however, indicates that it was a "drive-by" inspection, which means that the appraiser only considered the property from the exterior only. Further, it is noted that two of the three comparable sales used in the drive by appraisal were distant from the subject property (roughly and miles), while the third comparable sale was near by but more than 60% larger in square footage, and contained bathrooms to the subject's 2. The relevant comparability of the comps used in that appraisal are questionable.The appraisal performed for the application he filed with Embrace used comparable sales to measure value, and included a full interior and exterior analysis of the property. The comparable sales used in this report were all from within a half mile of the subject property (indeed are within a quarter mile) , appear from the photographs provided to be comparable to the subject in style and condition, and are all found within a rather tight value range that falls between $110k and $130k.The appraisal used for the Embrace application also includes a full sketch of the property to support the estimate of gross living space for the property, which leads to the appraiser's estimate of GLA at sq ft. The drive by appraiser's estimate of over sq ft is not supported by any data, but we wonder if the drive by might have included the area taken by an exterior deck - which is close to sq ft - to account for the difference. A deck however, is not considered to be Gross Living Area.Embrace is not aware of how the additional lot enters into the analysis. Clearly, the earlier appraisal considered the lot size to be about double that of the second appraisal, and we do not know which is accurate. When there are observances of mistakes or missing information in an appraisal report, the consumer surely has the right and opportunity to challenge the appraisal, and Embrace is prepared to ask the appraiser to reconsider the lot size, and double check the square footage for accuracy.We will ask the appraiser to comment on these issues, but based on the calculations within the reports however, it is not anticipated that any appropriate changes to that information would result in a significant adjustment to the estimated property value. Embrace certainly understands that it is a frustrating circumstance to pay for a service, and not receive the ultimate benefit you had anticipated, but we reject the allegation that its only interest was to encourage Mr*** to have an appraisal done, or that we would in any way profit from that exercise.If you have any questions or concerns, please feel free to contact me at your convenience.*** ***, CCOEmbrace Home Loans, Inc

Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does satisfy my issues and/or concerns in reference to complaint #***I understand that by choosing to accept the business response that my complaint will be closed as resolved.
Regards,
*** ***

Embrace Home Loans is in receipt of a notice of complaint from Ms. [redacted], and has reviewed the application file submitted by her and her husband.  In addition we have reviewed the information therein with Mr. [redacted], and documentation that was available.We certainly understand and appreciate...

their frustration at the acknowledgment that the value of their home was less than anticipated, but we do not find any evidence to suggest that they were 'tricked' into that situation by anyone, least of all, their loan officer.  Mr. [redacted] appears to have taken the appropriate steps to advise them of the value that they would need to qualify for the loan amount being requested, accessed certain online resources to see if those value levels were at least available in that neighborhood, which they were; and allowed them to make the decision.There is evidence to show that they were concerned about being able to demonstrate that value for their home, but in the end they decided to agree to an appraisal of their property.Embrace does not have any sort of resource available to identify market values, beyond those available to the public generally, and as such, we are clear with all consumers - both verbally and in writing, that the appraisal fee is non refundable after the service has been provided.  Embrace retains none of the appraisal fee it receives.  Instead, the entire amount is forwarded on to the appraisal service provider.The suggestion that Embrace or Mr. [redacted] somehow conspired to trick the applicants out of their appraisal fee is simply unfounded.However, at Mr. [redacted]'s suggestion, Embrace is prepared to extend, as a Good Faith Gesture, a partial refund to Mr. & Mrs. [redacted], if they are prepared to accept it.Please feel free to contact me if you have any questions or concerns. [redacted], CCOEmbrace Home Loans, Inc.

Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted]. Please add your rejection comments below. 
The company had to have know that there was a modification on my loan before proceeding as this was explained to them.  I was asked about it when they originally looked into refinancing my mortgage originally.  In order for them to even consider the refinance, they would have had to look at why I had fallen behind in the first place and how I was able to get back on my feet.  So it makes no sense that they would  even consider that they had no knowledge of  a modification to my loan.  The third party immediately brought the modification to my attention right after the credit was pulled so either there is a lack of knowledge on mortgage refinancing on their end or they just pushed forward with the refinance anyway.  I explained that I was on a very meager budget and that the $500 appraisal fee would be a stretch for me.  I was told that the loan would go through based on what they saw on [redacted] as the value of my home and the fact that I had not been late in nearly 2 years on payments.  To say that there was NO KNOWLEDGE of the modification is a false statement altogether and for that I should definitely receive a refund of the appraisal fee.
Regards,
[redacted]

Embrace Home Loans (Embrace) is in receipt of a notice of complaint from Mr. [redacted], and has taken the opportunity to review his loan file in light of his observations.Mr. [redacted] is correct in suggesting that there were inaccuracies on the loan closing documents.  Shortly prior to closing, it...

was brought to our attention that some of the taxes that had been listed as payable by the Seller, were in fact due from the Buyer.  Upon confirmation of such, the amount was removed from the Seller's column on the Closing Disclosure, but it was not, in turn, added to the Buyer's column, as should have happened.  This situation also had the impact of making it appear that the Borrower's new Escrow account for Taxes and Insurance was greater than it needed to be, which was not accurate.A refund was made to Mr. [redacted] based on the presumed excess Escrow balance.When taxes came due for payment, it was realized that they had not been collected at closing from the borrower.  The taxes were paid to the municipality, resulting in a shortage in the Escrow account, and the reason for the increase in monthly payments, as noted in the complaint, was for the recoupment of that shortage, along with a revised analysis of the amount needed to maintain an appropriate Escrow Balance.Such shortages are typically extended over a 12 month period to allow the borrower to cure the shortage over time, but in some instances, 12 months may require a payment adjustment that is difficult for the consumer to manage.  In those instances, Embrace will typically agree to extend the recoupment of the Escrow shortage over a longer period of time, allowing the monthly amount to be reduced.We wrote to Mr. [redacted], and have attempted to reach him by telephone to suggest such an extension of the recoupment period, so that the monthly payment might be more affordable for him.  To date, we have not received a response.Embrace is prepared to revise the recoupment of amounts extended over a longer period of time to help make the monthly payments more manageable for Mr. [redacted], should he desire as much.If you have any questions or concerns, please feel free to contact me at your convenience. [redacted], CCOEmbrace Home Loans, Inc.

Revdex.com:
I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # [redacted].
  I don’t want to accept without knowing how much of a partial refund?  Regards,
[redacted]