First Choice Loan Services, Inc.

Review: My husband and I lost our house and filed bankruptcy in 2010. Our credit was finally good and we were interested in buying a house. I wasnt sure if we qualified, or what we would need to qualify. I was referred to [redacted] (branch mgr for company) who had his asst, [redacted] ([redacted] contact me. I explained our situation in detail, we filed bankruptcy in 2010 but the foreclosure didnt take place until 2011. I gave her my husband and my information. She pulled our credit report and told me that we qualified and could start looking for a house. She emailed the pre-qualification letter and checked in with me daily to see if we had found a house.We made an offer on a house 5/11/13. Sellers countered w/ some date changes, we accepted and contract was formed on 5/12/13. The contract was emailed to [redacted] 5/14/13. The closing date was to be 6/27/13. We met w/ [redacted] and signed paperwork with her at the Castle Pines Location. About 2 weeks before closing, [redacted] told me to get my student loans deferred, which I did. She told me that everything was fine. 6/19/2013, my realtor emailed [redacted] asking if everything was good with the loan. She replied back that yes, everything was good. The loan objection deadline was 6/20/13.[redacted] called me on 6/21/13 to tell me that loan was dead because we needed to wait 3 years after the foreclosure on our house to qualify for a loan and that we would qualify in April of 2014. She missed the deadline for us to get our earnest money back. This is something that she shouldve known on the first day I spoke with her regarding us not qualifying for the loan. We not only lost our earnest money from her negligence, we lost the money we paid for the appraisal, home inspection and radon test.We spoke w/ Mgr [redacted] who told us he would look into it, then never responded back. I contacted [redacted] ([redacted]) on 7/8/13. He responded back 7/9/13 that he needed a couple days to look into this and would be in contact. Well, we received a response from an angry [redacted] to not ever contact his boss. We never received further communication from anyone at the company.The info that I have for this company I cannot find license info on DORAFirst Choice Loan Services, Inc NMLS # [redacted] Bank NMLS #[redacted] Product_Or_Service: Mortgage loanDesired Settlement: DesiredSettlementID: Other (requires explanation) I would like the money that we had paid out for a purchase of a house that we never qualified for. On top of that, the earnest money that we lost that 1. we should've never paid because we never qualified & 2. the loan officer was negligent and missed the loan objection deadline.Earnest Money $2000Appraisal, inspection & radon test $830.00Out of pocket money = $2830.00Plus the aggravation of not 1 person responding back to us regarding their ne

Business

Response:

Mortgage Division [redacted] SVP Compliance First Choice Loan Services, Inc. [redacted] Morganville, NJ 0775###-###-#### [redacted], Consumer Affairs [redacted]0 Complaint of [redacted] and [redacted] Attention Mr. [redacted]: Please accept this letter in follow up to our earlier response dated 11/25/13 to the complaint filed with your department by the above mentioned borrowers. On Friday the 29th of November, I received a phone call from Mrs. [redacted]. She and I had a nice conversation and I explained many of the points I included in our earlier response. My goal was to provide her with the information behind our lending decision, and the confusion regarding the Foreclosure being included in the Bankruptcy. By giving her this additional explanation, I feel she understood what took place better. She did let me know her dissatisfaction with the loan originator, as well as the Sales Manager she spoke with. I let her know that we had actually made a business decision and closed down the office she worked with. Both the Loan Originator and the Sales Manager who worked on this file no longer work for us. It should be noted however, that we made that choice as a business decision and not entirely as a result of this transaction. I repeated our offer to reimburse her for the money spent on the Appraisal, Inspection and Radon test, which she gladly accepted and thanked me for. We have processed the check request and the funds should be in transit to this week (a cop of the check request is attached). I also discussed the issues related to the return of her earnest money and communicated the bank is not prepared to reimburse her for that money, but that I would help as possible to assist her in getting the funds returned from the seller or the seller’s agent. To that end, I provided her an additional copy of the FHA Ammendatory Clause and the appraisal, verifying the property did appraise for lower than the amount indicated on the form. With these additional actions, I feel confident the [redacted]’ concerns have been addressed, however should you require any further information, please don’t hesitate to be in touch. Respectfully, [redacted] SVP Compliance First Choice Loan Services, Inc. ###-###-####

Consumer

Response:

[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me. I would also like to say that it was a pleasure speaking with Mr. [redacted]

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,