Embrace Home Loans, Inc.

Embrace Home Loans (Embrace) is in receipt of a notice of complaint from Mr. [redacted] regarding an application he had recently submitted to Embrace, and his dissatisfaction with its ultimate conclusion.  The factual portions of his observations appear to be accurate.  An application...

was received on May 25, for which loan disclosures and supporting documentation was immediately delivered by the consumer.  An appraisal of the market value of the subject property being a requirement for consideration of the application, Mr. [redacted] paid for that service and the appraisal was ordered that same day.  The appraiser arranged to inspect the property on June 1, and delivered his report to Embrace on June 6.  On that same day, Embrace submitted the application file for Underwriting review, and it was at this stage that issues were noted.When the application was first received, the Loan Officer discussed information that was noted on the credit report with Mr. [redacted] relative to a Foreclosure that was referenced from several years earlier.  At that point, the credit report was suggesting that the Foreclosure had occurred circa 2013, and in connection with an earlier bankruptcy.The FHA loan program being considered requires that any Foreclosure activity in the past be completed at least three years prior to the new loan, and the information available to Embrace supported that observation.  Mr. [redacted] had not indicated otherwise, but when FHA approval was requested it was noted that the Foreclosure in question had not been completed until 2015, less than the required three years in the past.At that point, the loan officer for Embrace did attempt to restructure the application under an alternative loan program - not an FHA or Government Loan, but that application was ultimately unable to qualify for approval for other reasons.Embrace is disappointed that it is unable to offer Mr. [redacted] a loan program at this time, but objects to any characterization that it has been deceitful or anything other than professional in its attempts to address Mr. [redacted]'s application for credit.  The complaint seems to suggest that Embrace has benefitted from "taking" their money for an appraisal report, when in fact those funds are delivered in full to the Appraisal Management firm responsible for producing the report.  Embrace does not gain at any level from the fee paid by Mr. [redacted].  Indeed, the only opportunity for gain by Embrace would have been from delivering a new loan to the consumer.  In this instance, we do not find that Embrace has acted with anything other than complete honesty and professionalism.Still, Embrace does appreciate the frustration this consumer feels, and believes that there was no intentional effort of withholding information.  Therefore, at the encouragement of Mr. [redacted], the loan officer, Embrace is prepared to offer a partial refund of the appraisal fee paid by Mr. [redacted] as a Good Faith gesture, if he is prepared to accept it.If you have any questions or concerns, please feel free to contact us at your convenience.[redacted], CCOEmbrace Home Loans, Inc.

I will be willing to pay for a lie detector test and pay to produce the phone conversations we had concerning the loan.  The experience and knowledge that Mr. [redacted] has not exempted him from lying.  It may take a rocket scientist to figure out the actions he made to convince you all that he did the right thing, which he did not. Mr.[redacted] and I talked several times on the phone about the appraisal and I told him that the market price had dropped on my property which was at $150,000 and then I told him that the last appraisal was $90,000 to $100,000. He said he would do some research on appraisal rates in my area and get back with me and he did a few days later. Mr. [redacted] called me back and told me that the value of my house had gone up in this area. After doing his research. He knew the issues and facts and told me it would be sufficient. Embrace staff should denounce deceiving  behavior of staff and employees  that their loan officer has demonstrated.  Before applying for this loan I went to the Better Business Beau in [redacted]. and they gave you all a very high rating which inspired me to continue with the loan. It seems like I chose the wrong loan officer in this company. God does not like for people to lie. There is a place for those who lie and deceive others. You all spoke highly of Mr.[redacted] without considering my character as well. I'm a man of honesty and good charter too.   I am a Army Veteran, a born again Christian and Family Man and I exercise righteousness and have no respect of person. I hope you all will dig deeper and get to the truth of the matter. Thank You for all your help
Regards,
Tyro [redacted]

Embrace Home Loans (Embrace) is in receipt of a notice of complaint from Ms. [redacted] regarding her recent application with Embrace for a mortgage loan refinance.Ms. [redacted] has suggested that she was required to pay for an appraisal report that she feels was undervalued, and failed to indicate a value...

that be sufficient to support a refinance.In addition she has suggested that the appraisal would have been irrelevant in any event, since another resource explained to her that she would not have been able to qualify due to having obtained a Loan Modification within the last 3 years.Embrace has reviewed her file and discussed it with its employees that were involved with the application to get a full understanding of these factors.Ms. [redacted] indicated that she felt the appraisal was undervalued, and had provided some alternative comparable sales nearby to be considered in addition to those selected by the appraiser.  Indeed, Ms. [redacted] provided information about two sales in [redacted], MD, along with an online value estimate for the subject property.  However, the sales she had provided were much farther away from the subject than those selected by the appraiser.  The information provided failed to deliver any indication that the conclusions of the appraiser were in question.  In addition, Embrace's application contains no information about a Loan Modification.  The only reference to the existing mortgage account is on the credit report, which shows that the consumer had disputed the reporting with the credit reporting agencies, and while it had been delinquent at one point, that the monthly payments for the account had been on time for at least the last year.Embrace finds that the appraisal report presents a reasonable estimate of value for the subject property, and that since it apparently did not know about a Loan Modification, even if the suggested limitation were true, Embrace would not have had any reason to consider its impact on the application.Embrace, therefore, disputes the conclusions of Ms. [redacted].  The appraisal information submitted was considered and found to be insufficient to disqualify the appraiser's findings, and the reference to a Loan Modification made no impact upon Embrace's credit decision, whatsoever.If you have any questions or concerns, please feel free to contact me at your convenience. [redacted], VPEmbrace 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 #[redacted]. I understand that by choosing to accept the business response that my complaint will be closed as resolved. 
Regards,
[redacted]

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].
Myself and my current lender have been fighting with Embrace Home Loans to release our VA Home appraisal.  The loan officer, [redacted], lied to us and said they own it and paid for it.  He wanted us to pay Embrace for it, then pay the appraisal company as well, so paying for it twice.  The appraisal company said and shows it was not paid for.  We got ahold of [redacted]'s supervisor, [redacted], and he claimed to be the vice president of the company.  That was a lie as well, because he is just a senior lead loan officer.  He was saying they could not release it.  I spoke with the VA 3 times, and they said they are not telling the truth, and that all they need to do, is sign into the VA portal, and transfer to the new company, and then the new company pays the appraisal company.  It has been over a week trying to get this done, and Embrace is refusing, saying that is not true.  The VA says it is most certainly true, and transfers instantly once they do it, but they are refusing.  This company lies and does not know how to do VA Loans, and consumers need to be warned.
Regards,
[redacted]

Embrace Home Loans is in receipt of a notice of complaint from Mr. [redacted] and has taken the time to review hisobservations incomparison with the notes in hisapplication file.  Further we discussed the loan process in detail withMr. [redacted], the loan officer with whom he was...

communicating,in order to get a complete picture of the situation.   Mr. [redacted] suggests that Mr. [redacted]encouraged him to pay for an appraisal of his property by suggesting that heknew that the value would support his loan request.  He further suggests that this action wastaken in spite of having been twice previously been denied by other lenders dueto insufficient equity. Mr. [redacted] is one of the moreexperienced loan officers on staff at Embrace, and knows that the one issuethat can become an obstacle to someone’s chances is when the value of theproperty is found to be less than anticipated.  As a result he knowsenough to avoid telling any consumer how much their property may beworth.  In this instance, he did confirm that he told Mr. [redacted] that home values had come back since the low points of 2008, but instead ofsuggesting a value, he asked Mr. [redacted] what he thought the value would be,and even encouraged him to contact a local realtor or seek online resources ifhe didn’t have any good idea about the value.  But Mr. [redacted] suggesteda value of $150,000, and when he did, Mr. [redacted] asked why he felt that, to whichthe response was that they had put a big addition on the house, and that shouldmerit the $150k estimate. Mr.[redacted] also mentions the process of receiving and completing the applicationdocuments in an electronic manner, and that Mr. [redacted] described it as being “notrocket science.”  Mr. [redacted] indicates thathe may have used that phrase in their conversation, in the context of hisoffering to walk Mr. [redacted] through the process Indeed, our findings suggest that Mr. [redacted]’scomments to Mr. [redacted] appear to have reflected a reasonable effort toeducate Mr. [redacted] about the loan process, and certainly were not designed toinduce him into any disadvantageous position. We are understanding of the disappointmentthe Mr. [redacted] feels as a result of the appraiser’s report, but do not findthat Embrace or Mr. [redacted] engaged in any inappropriate actions or words tomislead him or cause him harm. If you have any questions or concerns,please feel free to contact me at your convenience.

Embrace Home Loans, Inc. (Embrace) is in receipt of a notice of complaint from Ms. [redacted], and has investigated the circumstances related to this application with the loan officer, Mr. [redacted].Mr. [redacted] advises that he has assisted the consumers on three separate occasions over the last several years...

with the mortgage financing needs - most recently early this year.Our review of the appraisal does not suggest any irregular activities here.  Anytime there are clarifications or updates needed to conclude a report, it is appropriate to direct those questions to the same appraiser.  Lenders are not allowed to direct orders to a different appraisal because they do not agree with the findings of the original appraiser.Still, Mr. [redacted], as a gesture of good faith to an existing customer, has requested that a refund of the appraisal fee be delivered to the consumer, and we have taken steps necessary to conclude that refund.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]. Please add your rejection comments below. I have received no such refund.
Regards,
[redacted]

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 bottom line for me is your customer service is a joke as are you pre approvals. Embrace has scammed $475 out of me not to mention a ton of time. I had to cancel a trip to get my home reappraised due to the incompetence of your staff. Ms. [redacted] was out of the office for most of November and was also unavailable for most of December. Her supervisor helped me briefly but it took multiple phone calls to even get that and all he did was email me the appraisal. I was not advised on the appeal process or any other options. I found it suspicious that I was not told my loan was denied until I asked for a different loan officer because I felt I was being ignored. The last time I spoke to Ms. [redacted] she told me her supervisor would call me back the next day. I am still waiting on that call back. I have even sent a couple of email saying I was still waiting on a phone call. I also called Embrace and wanted to file a complaint against Ms. [redacted] as well as her supervisor and was transferred to the voicemail of some guy but I have not gotten a call back from that person ether. I told Ms. [redacted] in the beginning of this that I could not afford to spend the money on an appraisal if it was not going to work. She lied to me.
Regards,
[redacted]

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. 
Regards,
[redacted]

Mr. [redacted]' observation is correct, in that they did advise us of their intent to take their application to another lender on November 15, and at that time their loan officer provided them with the appropriate details for making the request to transfer the case to the new lender.On November 30, we received correspondence from that new lender, providing us with directions and contact information for transferring that information to them.    Along with that email from the new lender, was a copy of an authorization form that the consumer had provided to the lender, and that form was dated November 15.But Embrace did not receive the formal request from the new Lender until November 30.If we can provide any additional information, please do not hesitate to advise.Thank you.

Embrace Home Loans, Inc. (Embrace) is in receipt of a notice of complaint from Mr. [redacted] over his receipt of an un-requested advertisement from Embrace.  He suggests that he spoke with a representative of Embrace who was not helpful in removing his name from our mailing lists, but instead...

referred to a possibility to Opt Out of future mailings.Embrace engages in a Pre-Screening process as outlined in the [redacted] which allows us to obtain the mailing information for potential consumers and send them information about our programs for the intent of generating interest in those programs.Embrace recognizes that some consumers do not want to continue to receive any such advertisements, and we have set up an internal system to address such requests when they are presented.  The result is that we would act to prevent advertisements from being prepared for those consumer going forward.But, while Embrace can take care of managing its own lists, the whole Pre-Screening process under [redacted], requires that entities that utilize this process must provide the consumer with information about the toll-free number that exists for the purpose of allowing consumers to opt out of ALL future Pre Screening efforts by Embrace as well as any other company using that approach.It is not clear with whom Mr. [redacted], or what about that conversation seems to have troubled him, but we have today confirmed that we have record of one such mailing going to him within the last several months.  We have today marked our files to suppress the selection of his name and address for any future mailings.If you have any additional 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]. Please add your rejection comments below. This company is a fraud! My husbands pay stub was the only one emailed. My wife was not put on the application nor did I disclose her income on 7/13. I have all documents and emails saved to confirm this. Embrace never address the previous complaint in regard to my refund, paying off the remainder of the lease,and pulling my credit 3 times. The only alternative Embrace gave me was to pay the full payoff of the vehicle. I only have 23 months left on the lease. Don't trust this company!  company is deceitful! Do not trust them!
Regards,
[redacted]

Our loan officer did not recall discussing a Loan Modification with Ms. [redacted].  Nor would it have been necessary to ask about it, if it had occurred to him.  Notwithstanding what she might have learned from the 'other lender' that she consulted, Embrace's guidelines for a FHA loan, which is the program for which Ms. [redacted] was being considered, allow for a refinance of a Modified Loan after the consumer has demonstrated at least 12 months of timely payments.Since Ms. [redacted] had been current for at least 18 months on her existing mortgage loan, the Loan Modification issue would have been moot if we had known about it.[redacted], VPEmbrace Home Loans, Inc.

Apologies to Ms. [redacted].  A refund request was prepared on or about May 23 and approved by the supervisor, but was apparently not received in the accounting department.  Upon our receipt of this notice from the Revdex.com we were able to identify the conundrum and the promised refund was initiated yesterday.  It should show as a credit to the credit card used by Ms. [redacted] within a few days.If she has any additional questions, or does not receive the refund as indicated, she can call me directly at [redacted]Thank you. [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].
Before I accept offer , I would like to know the amount of the payment.
Regards,
[redacted]