First Direct Lending LLC

HelloJust wanted to check in and say I received my money back, and they have finally STOPPED calling me.I am still wanting the hard inquiry off my husbands and mine credit report I was told by them that if a company had already ran my credit for a refinance than it was good for days and I wouldn't get another hard inquiry; that was information as my husband and I both had a hard inquiry by this company Had I known that wasn't true, I wouldn't have ran out credit again

Mr [redacted] assisted in refinancing my homeHe was honest, helpful and efficientThe process only took weeks due to Mr [redacted] extensive knowledge of the policies and proceduresDespite the time difference and distance between Mr [redacted] and I, he was still able to put my apprehensions at ease and maintained an open line of communication and trustHis patience and interpersonal communication skills are qualities that will build and maintain positive relationships with his clientsMr [redacted] made this complicated, confusing process a smooth and enjoyable oneWe appreciate all of his hard workWe would recommend working with Mr [redacted] to our friends and family

First Direct Lending ("FDL") sincerely apologizes for the unsatisfactory experience this consumer had The consumer's phone number has been added to FDL's Do Not Call list, so she will receive no further calls regarding her application A refund of the consumer's appraisal fee was processed on August 2, shortly after the application was withdrawn by the consumer Lastly, the representation by the FDL employee regarding the credit inquiry not having any impact on the consumer's score Although it may appear on the consumer's report as a hard inquiry, as long as credit was pulled within the 45-day shopping period observed by the credit bureaus, the inquiry would have no impact on the consumer's score Below is an excerpt from an article describing how an inquiry impacts a consumer's score and the VantageScore credit scoring model used by all three major credit reporting agencies.How inquiries are scoredInquiries don't count as much as payment history, revolving utilization and other factors that contribute to the calculation of a credit score."A single inquiry typically impacts the score by one to five points," says [redacted] D***, senior vice president of analytics and product management for Stamford, Conn.-based VantageScore Solutions LLCAll three major credit reporting agencies -- Equifax, Experian and TransUnion -- developed the VantageScore credit scoring model, which rolled out in Eight of the top credit card issuers use it.The actual impact of an inquiry can vary according to your credit historyIf you have few accounts or a short credit history, inquiries can cost more pointsThe amount of points deducted may not be the same for each additional inquiry, as they might be scored in rangesPast a certain threshold, the consumer could max out on the damage from numerous credit checks.Hard inquiries stay on credit reports for two years, but the length of time they impact the score depends on the scoring model usedVantageScore takes them into account "generally as long as they remain on the consumer's credit file," according to D***FICO scores, the industry standard, count them for the first year once they appear on the credit report.With both VantageScore and FICO scores, the impact of the inquiry remains constant during the period that it factors into the score.Multiple inquiries generated when rate-shopping for a mortgage, auto or student loan are consolidated by credit scoring models when done within a certain window of timeThe FICO scoring model ignores mortgage, auto and student loan inquiries in the days prior to scoringMortgage, auto and student loan inquiries older than days are lumped as one inquiry whenever they fall within a 14-day spanNewer versions of the scoring model count the shopping period as any 45-day spanAgain, FDL truly regrets it was unable to help the consumer with her financial goals, but hopes that this response provides some clarity and peace of mind regarding her credit score

The details of this matter are as follows: "Segoe UI Complaint Involves: Refund Or Exchange Issues Customer’s Statement of the Problem: "Their Bill of Rights states that "First Direct customers have the right to know that they will obtain a loan or receive their money back if they pay for an appraisal"." That is incorrect First Direct Lending’s (FDL) current Borrower’s Bill of Rights (www.firstdirectlending.com) does not state what Ms [redacted] claims Summarizing our current Borrower's Bill of Rights: customers will be treated fairly and with respect; honesty in plain language; a simple experience; copies of disclosures and other documents as required by Federal laws and state statutes; right to receive non High-Cost loan terms; are able to speak to a person within hours; right to see real time status on the loan process; refinance for free [redacted] in the future for life; receive a reasonable net tangible net benefit analysis; and a right to loan process that is free of negotiating and haggling over fees It appears that Ms [redacted] 's daughter located a cached version of our website during a deep dive Google search The URL is not directly associated with Frist Direct Lending, LLC We have confirmed that our current version is correct and does not reflect Ms [redacted] 's claims "I was told that I should receive my money back within 3- days of the refusal of our loan." First Direct Lending’s policy is not to refund appraisal fees for every denied loan as the borrowers are provided copies of the appraisals directly from the approved appraisal company in accordance with the Equal Credit Opportunity ActWe show no record of promising Ms [redacted] a refund of the appraisal fee for her nor her daughter’s property An appraisal is one of the key factors in making a proper and correct determination as to whether the borrower qualifies for loan products in which FDL offers Neither Ms [redacted] , nor her daughter, qualified for a loan with FDL days later I still have not received anything back and of my phone calls to a supervisor have not been returnedAnother of their policies is supposed to be a return call within hours Ms [redacted] spoke with at least two of FDL’s employees listening to her concerns as late as May 6, (the date of this complaint) Ms [redacted] ’s loan, and that of her daughter’s, were both denied for risk and other reasons Complaint Product/Service: home appraisals – One of these requested is for her daughter’s loan Purchase Date: 4/6/ Problem Occurred: 5/4/ Model: Account Number: Order Number: Talked to Company: 5/4/ Talked to Company (2nd): 5/12/and 5/16/ Name of Salesperson: Purchase Price: $ $x Disputed Amount: $ Desired Settlement: That they refund the money immediately ($950.00) for the appraisals that I paid for First Direct Lending, LLC has decided to refund Ms [redacted] the fees for her and her daughter's properties Regards, [redacted] Director of Compliance [redacted] ext***

Ms [redacted] is correct in that she paid for half of the required appraisal fee The full appraisal fee is $450; she paid only half = $ Typically, the borrowers are allowed the option of paying thee remainder of the fee at closing If the borrowers don't complete the loan (fund), First Direct Lending waives the final $even though the borrowers received a copy of the appraisal during the processWe consider this matter closed

Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this proposed action would not resolve my complaint For your reference, details of the offer I reviewed appear below Regards, [redacted] I was and am still very angry with this company After six weeks the a new agent called and said that My worker, ***, was not working with me anymore Someone else would take over This company wanted so much information that I could not keep up with them They wanted me to have a three way call with the IRS after having been sent my tax forms for several yearsI informed them when the loan was first in place that the IRS had found a case of Stolen identity and that they were trying to solve this It did not reflect anything I had done wrong I called The IRS and they could not tell me anything until thecase was settled It is still not settledI will not and should not being treated like this This [redacted] that I worked with was crazy He constantly harassed meI think he did this to others is why he was dismissedThis place is terrible and not be allowed to carry a business where these things are allowed If they has looked at my IRS papers that would have found I paid my total bill each year

[redacted] in the last week These people are scammers Went through three months of stress being told every week we were going to close They even told us not to pay our mortgage because we were going to close that month Two hours before expecting the notary they called to say they messed it up and to pay our mortgage asap This was on the 27thWe got behind on our mortgage because of this The next month we were set to close and the day of, we come to learn FHA didn't even allow cashout refis if you hadn't owned the house for a year AFTER THREE months no one caught this Now no one will return my calls, everyone is in a surprise meeting every time I call Now we are out $for an appraisal for a loan we were never remotely qualified for Stay sway from these people

Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this proposed action would not resolve my complaint For your reference, details of the offer I reviewed appear below.As only excerpts from one my emails were quoted, and there was an additional email from the senior lender from FDL indicating that my July payment was post-marked in enough time and my current mortgage payment would not be marked as late, I still do not see how I am responsible for an appraisal that never transpiredI am still out the two hundred and some odd dollarsAdditionally, the senior lender also indicated that I would hear from a junior lender about to proceed nextThere was no communication thereafter and the emails from FDL stoppedHorrible customer service altogether Regards, [redacted]

Tried to refinance through First Direct, one of the first things we informed them of is that my wife recently changed jobsWe went through the entire process over several weeks and got approval pending the appraisal of our homeAs I was coordinating a date with the appraiser, we were suddenly refunded our appraisal costsA week and a half of trying to get ahold of them, leaving messages, I was finally informed that because my wife recently changed jobs they needed to see months pay at her new locationLet me reiterate that her having a new job was one of things we discussed during the first phone callVERY PISSED that they wasted about a month of our time [redacted] us aroundI would never recommend them

First Direct is disappointed to learn that the consumer was unsatisfied with the appraisal she received Appraisals are performed by independent individuals assigned by third party appraisal management companies, meaning First Direct has no control over which appraiser is assigned to a property Based on the information First Direct has, it appears that the appraisal report and appraised value reflected in the report are supported The consumer claims to have a 4,square foot home, but county records (attached) reflect 2,square feet, which is less than the 2,square feet the appraiser reported Unfortunately, First Direct is unable to refund the $appraisal fee to the consumer on this occasion The $fee is only a partial payment towards the total cost of $for the appraisal, the remainder of which First Direct will pay because the consumer's loan did not fund First Direct clearly explains to consumers that the appraisal fee is only refundable prior to the appraisal being performed In this case, the appraisal was performed and the consumer has received an appraisal report at a discount

We are processing a refund request todayThank you for your patience

On Sep 21, 2016, at 1:PM, Office of the President < [redacted] > wrote: Ms [redacted] , thanks for your messages I am writing from the Office of the President I am the Director of Compliance for First Direct Lending, LLC We apologize that you were not able to achieve your goals but the fact that the condo is not approved is out of our hands We are only able to close loans that are in compliance with agency and investor guidelines Although you mentioned that your property was a condo., agency guidelines can differ and that is what it appears to have occurred here See the comment immediately following that [redacted] previously sent to you:“Your condo is not fully approved or established with FMNA.” And as [redacted] mentions, First Direct Lending, LLC paid for the remainder of the valid appraisal of which a copy you received That means that First Direct Lending, LLC is out of pocket on the other half pf the appraisal fee due to the third party appraisal companySpecifically, you paid half ($225) for a full and valid appraisal which results in a benefit to you+ The above is the previous response we sent to Ms [redacted] after a very long email chain She simply refused to accept the valid reasons which we provided She claims to be aware of the guidelines in a prior email If that is sop, she would know that her circumstance had issues that were simply not allowed In addition, she received a copy of a valid appraisal for which only paid half the costRegardless, First Direct Lending, LLC is processing a refund of her $ More time and effort are simply not warranted [redacted] x *** | Fax: [redacted]

I would like First Direct Lending to refund my $It's clear to me that this was a ploy to make a few hundred dollarsThere is no chance that the value of my home declined in two years by $10,with the market value in the area rising by over 3.5% and over $20,in upgrades to the structure Mr [redacted] 's alleged complaint is above Mr [redacted] received an independent third party appraisal for the amount of $ The amount of the appraisal paid directly to the third party is $ Mr [redacted] 's complain that it appears to be "A ploy to make a few hundred dollars" is incorrect In factFirst Direct Lending is responsible for paying the remainder of the full appraisal fee to the third party appraisal management company In essence, it lost money on this one and others like it when the appraisal values come in lower than expected WE can't speak to the "chance the the value of [the] home declined in two years..." That is the responsibility of the independent appraisers and required by Federal Law

Thank you [redacted] your professionalism and help was greatly appreciated! Even with my bad credit you made our refinance a pleasant experience

Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this proposed action would not resolve my complaint For your reference, details of the offer I reviewed appear below As only excerpts from one my emails were quoted, and there was an additional email from the senior lender from FDL indicating that my July payment was post-marked in enough time and my current mortgage payment would not be marked as late, I still do not see how I am responsible for an appraisal that never transpiredI am still out the two hundred and some odd dollarsAdditionally, the senior lender also indicated that I would hear from a junior lender about to proceed nextThere was no communication thereafter and the emails from FDL stoppedHorrible customer service altogether Regards, [redacted]

Again, borrower was very unresponsive during the processFirst Direct was able to complete the loan process but Ms [redacted] would not respond to calls or emails nor furnish required documentation After some time, she called in to complain and yelled at the loan consultant that had taken over the file and had been trying to rach her She refused to cooperate Company policy and federal regulations dictate the a file must be adversed when the customer refuses to cooperate/proceed and within the day federal timeline We consider this matter closed

Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this proposed action would not resolve my complaint For your reference, details of the offer I reviewed appear below I do not consider this resolved and not to my satisfaction You cannot expect someone to answer so quickly They did not respond with adequate reimbursement and have been rude with previous callsI will further my complaint with financial institutions that hold business es accountable for their actions Regards, [redacted]

July 23, Via Email [redacted] ***Revdex.com- Orange County and San Diego RE: [redacted] Complaint # [redacted] Ms***:Thank you for your cooperation and patience in this matterBelow is a summary of Ms [redacted] 'scomplaint.COMPLAINT INFORMATION [redacted] [redacted] E-mail: [redacted] The details of this matter are as follows:Complaint Involves:Advertising IssuesCustomer's Statement of the Problem:This process in refinancing my home has been nothing but a three ring circusFor seven months this is drug onI wasto sign closing documents papers last night July the 15th at PM and no one showed.Complaint Product/Service:Purchase Date: 717/2015Problem Occurred: 717/2015Desired Settlement: Ms [redacted] 's initial file, loan file # [redacted] , was declined on April13, due to incompleteness as was stated in the federally required Statement of Denial (attached.) Specifically, the borrower, Ms [redacted] , didn't provide the necessary documents needed to proceedMs [redacted] re-applied for a refinance again later in April, Her new loan file number was # [redacted] She was conditionally approved for an FHA product on April 28, On May 18, 2015, it was noted that the borrower still had not provided First Direct with a means of payment necessary to obtain her appraisal so the file was suspendedThe appraisal fee was paid on May 22, and the appraisal was ordered the same dayAlso on May 22, the processor noted that there were remaining missing items needed for the file to progress3· On June 5, 2015, Ms [redacted] 's rate was lockedOn June 9th, a specific conditions list of needed items was sent to the borrowerA follemail was sent by the processor to Ms [redacted] asking if she had any questions regarding the conditions listPart of the list contained a request for clarification regarding several variations of her name which needed to be clear to eliminate any potential OFAC violations4· On June 17th, the loan was again suspended for pending missing items5· On July 7th, the loan originator contacted the borrower to advise that he could not move forward until she provided the necessa documentsThis is the date the borrower references in her com aint as the date On July 17th, an appointment made but had to be cancelled due to missing items needed from the borrowerThe borrower was notifiedThe processing team worked very diligently to obtain the missing items7· Several conversations ensued with the borrower and the loan originator wherein the loan originator was attempting to either obtain the missing items necessary to move the file forward or cancel the loan file for incompletenessIt is worth pointing out that the borrower was verbally abusive to not only my loan originator but also to multiple employees on more than one occasionThe Sales Manager reached out to the borrower a few times in July but Ms [redacted] remained either unresponsive or verbally abusiveThe loan file was declined for incompleteness on July 23, 2015.Please note that the staff at First Direct Lending, LLC that interacted with her did so willingly and inattempt to move her file through the processFirst Direct Lending, LLC prides itself on its excellentcustomer service and positive experiencesWe are sorry that the file could not proceed and that Ms[redacted] was not able to obtain the refinance loan product she sought.Her mention that "For seven months this is [sic] drug on" is incorrect.Thank you for your time and efforts regarding this matterPlease advise should you have anyquestions.,Respectfully, [redacted] Once you've had a chance to review the documents, please contact me at [redacted] ext [redacted] or at [redacted] with any questions/requests.Kind regards, [redacted] ***

First Direct is unsure how to further clarify that the loan it is offering is a better loan The Annual Percentage Rate (APR) is a calculation that shows the loan costs over the loan term expressed as a rate, providing consumers with a tool to compare loan products that have different fees and interest rates First Direct's APR is 4.815% compared to the competitor's 5.167% The complainant's request for First Direct to match the higher interest rate of the competitor does not make any sense First Direct concedes that its fees are higher, but that does not change the fact that it is offering a better loan Despite the fact that the loan quoted by First Direct is a lower loan amount, under First Direct's loan, the consumer would have paid off $21,worth of principal, compared to the $20,the consumer will have paid off with the competitor's loan Every single value listed in the Comparisons section of the Loan Estimate indicates that First Direct's loan is the better loanFirst Direct regrets that it was unable to assist this consumer, but is unable to do anything for her at this time because her application has been withdrawn

I want the hard inquiry off mine and my husbands credit We were lied to and tricked into having our credit ran