First Choice Loan Services, Inc.

Review: I started with [redacted] 03/01/2013. On 4 mortgage refi loans. I was told at the time that my credit would be run and that I would have no problem receiving the 4 loans. At that time also, gave him a schedule of my other properties. 6 month into the process I get a call from [redacted] stating I need to have a credit score of 720 or above to receive any loans. I found this to be strange as this was not explained to me before I started the process and my credit was run. [redacted] stated it was their fault and my money for the four appraisals would be returned to me. I have done some research online and all Gov. loans must have a minimum credit score of 720 this has been law for a number of years. I am not a loan professional and this should have been explained before the process ever started. I have emails and text of all correspondents with [redacted] and [redacted] the loan processor.Desired Settlement: I would like a refund for the 4 appraisals. The were $570ea. for a total of $2280

Business

Response:

To Revdex.com:

I attempted to contact this consumer in order to assist in resolving this complaint.

The contact information in your letter does not match the contact information in our loan files for this consumer except a business email address, one of which I cannot be assured is still tied to the consumer. The contact information in the loan files is no longer valid except the work telephone number and the party answering said I would need to reach [redacted] via email.

Please have the consumer contact me at First Choice Loan Services, Inc. [redacted] so that I may assist in the matter.

Regards,

VP, Compliance

First Choice Loan Services, Inc.

Business

Response:

[redacted] was able to go to the Australian Consulate and provide his identity documents to them so that they could provide an Affidavit of Identity to our satisfaction. He and his spouse who were the original parties on the loan both signed our required “release” in the amount of $2,265.00 for refunds of (5) appraisals. I also have his email agreeing to that amount.

[redacted] is still not back in the US but he did provide an address where we may send the checks and that address does match the address on one of his bank statements that he provided to us in the initial loan files. The NJ DOBI said that we were not required to refund his money until we were confident that we have confirmed that we were refunding the same person who made loan application with First Choice. We believe that this has been accomplished. Checks are being mailed out tomorrow from Accounting and I have notified [redacted] via email of this. I asked him to let me know as soon as the person picking up his mail for him in the US has received the envelope.

Regards,

Review: Delay of loan closing. First Choice completed my Appraisal on 09/14 and got title approval even befofe that. So now it 09/28 and they are yet to give me a closing date. I have been told that the delay is due to an internal audit but still without a closing date. Previously was quoted 09/30 as a close date. I have another deal set to close on 10/01, which I will need these funds to complete. I am in jeopardy of loosing my deal along with earnest money.Desired Settlement: I need the funds available from this loan by 09/30, which should have been available at leastt a week ago.

Business

Response:

To: Revdex.com of New Jersey Thank you for allowing us to respond to this complaint. The consumer had already contacted us we were able to address his concerns and expedite the closing. The consumer is satisfied with our actions. The consumer stated to us that he would contact the Revdex.com of New Jersey and close the case. Regards,

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.

Regards,