GMH Mortgage Services

Good Afternoon [redacted] , In response to the above complaint GMH Mortgage will reimburse the $appraisal fee to **& [redacted] ***.We will be sending them a check to the address below[redacted] & [redacted] Redwood City , CA ***Thank you and have a great day!

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the responseIf no reason is received your complaint will be closed as Answered] Complaint: [redacted] I am rejecting this response because:As usual GMH continues to be even more confusing and now yet another so called 'approval but withconditions'which in other words is not an' APPROVAL' its another run around ! From day one GMH has lied about this whole process! GMHhas not followed up on anything! GMH are a SCAM! GMH doesnt know what they are doing! GMH cant be a legitimate business???? Whatand Who are GMH??? Regards, [redacted] And [redacted]

My refi experience with GMH mortgage (Best Rate USA) was horribleI have a credit score, my property appraised at a 65% LTV and my debt to income ratio was 36%, but my loan was deniedWhy? Because the W-income that I make as a CPA doing temporary work, which I've done for YEARS apparently doesn't count in my incomeWhen I called other banks (Wells Fargo and another similar Internet bank) to see if that made sense, they said no, my income meets national Fannie Mae guidelines (under 45% debt to income) and is stable and consistent incomeThis is a solid loanApparently, BEST USA has its own lending guidelines, which are different than nationally accepted standards, and can approve whatever they want To me, something doesn't smell right and I warn others to stay awayThis application process took months and the loan officer, Ron T, let it drag on by not returning my calls or following upI wasted money on an appraisal that can't be used with other banks and I now have a new, unnecessary credit inquiry on my credit report

>*** *** seemed pleased with the loan that was structured for him and was very happy about the pricing. He stated that he had shopped many lenders and finally felt like he found the best deal. He liked GMH Mortgage/BestRate so much that he referred a friend to complete a refinance transaction with GMH/BestRate. At the time of his lothe undiscounted rate was equal to 4%He was to pay .45% in bona fide discount points to reach a rate of 3.875%He was well below the average prime offer rate at this time, which was 4.160% on week ending 10/13/GMH/BestRate does not charge any origination points for financing
Later it was discovered that *** *** was still shopping his mortgageHe was simultaneously requesting current pricing from a different loan officer within the company while he had an application in process and was holding a loagreement
GMH Mortgage would never ask a customer to inflate incomeIncome is validated by our Quality Mortgage/ Ability to Repay guidelines in underwriting
Best Rate/GMH Mortgage is a retail call center and funds loans in our own nameWe are not wholesale mortgage brokersRetail loan officers are paid the same on each transactionThere is no negotiation nor incentive in the loan pricingDual compensation is a term used in wholesale lending
GMH/BestRate collects an upfront deposit, not an application fee, on each transactionThe deposit is used to offset the cost of an appraisal and credit report should the customer decide to withdraw the transactionIf the loan closes, the customer receives the entire deposit back at settlementGMH Mortgage incurred costs in the amount of $and $= $GMH Mortgage Services has already refunded the customer the difference in the amount of $30.77; and will honor the charge back request and send the additional $

Good Afternoon ***, In response to the above complaint. GMH Mortgage will reimburse the $appraisal fee to **& *** ***.We will be sending them a check to the address below
*** & *** ***
*** *** ***
Redwood City , CA ***Thank you and have a great day!

Good afternoon ***, My sincere apologies for not responding soonerWe take complaints very seriously here at GMH MortgageOn 12/30/Elizabeth sent Brian M***, our New England Branch Manager, the information belowBrian called the consumers twice and sent an emailNo response has
been received either by phone or by email. At this time, the consumer’s loan application is approved with conditions, however the income has expired (good through 1/15/17) Should the consumer wish to proceed we would be happy to close the loan for them. Below is an image of the current approval conditions, and the email sent by the branch manager on 1/3/17. Amy A*** |VP Compliance & Systems W Ridge Pike | Building C | Conshohocken, PA 19428P: ###-###-#### | F: ###-###-####

Stay away, far away, from these peopleIn the beginning, things started out nicely The rates were competitive and my loan officer, Charlie Hamilton, seemed professional and genuinely interested in meeting our needs We sent them every document that they wanted, even a few that seemed odd for a lender to ask for Things began to sour when GMH then asked for more and more documentation that was unrelated to our credit worthiness or ability to pay That is when we began to suspect that they really did not want our business and that it was all an elaborate hoax When I asked why certain documents were needed, I was told that what I thought really didn't matter and I could either give them everything they demanded or find another lender Just to make sure that I wasn't dealing with a rogue loan officer, I phoned their office and asked for a manager After speaking with MrJack M*** for only minutes, he began cracking jokes about the frequency of my sex life with my wife That's when I knew that these people were not professionals Fortunately, I had not paid them any money or I would be in court with them right now The only damage to me was the loss of many hours, an invasion into my privacy, and a slight ding on my otherwise perfect credit report There are many good and honest lenders out there GMH is just not one of them I feel lucky to have gotten away before they could do any further harm

Good Afternoon [redacted], In response to the above complaint.  GMH Mortgage will reimburse the $495 appraisal fee to **. & [redacted].We will be sending them a check to the address below.[redacted] & [redacted]
[redacted]
Redwood City , CA [redacted]Thank you and have a great day!

It is the goal of GMH Mortgage Services LLC to provide the customer with the most ethical,...

and streamlined process available by utilizing state of the art technology processes to drive the customer experience and provide the best mortgage loan available to the customer.
Mr. [redacted]'s application was received and the rate was locked on December 22, 2014. Within 12 calendar days the transaction was approved by our underwriting department subject to the appraisal. The anticipated closing date for the transaction was set for January 16 2015. The file was cleared for closing when the appraisal was cleared on January 13th. Our processing staff tried contacting Mr. [redacted] to confirm settlement but he was unreachable. It was later discovered he had been traveling for 3 weeks. Upon his return he withdrew his application with GMH Mortgage for failure to meet a quote he had received from another lender.
GMH Mortgage Services LLC collects an upfront deposit, not an application fee, on each transaction. The deposit is used to offset the cost of an appraisal and credit report should the customer decide to withdraw the transaction. If the loan closes, the customer receives the entire deposit back at settlement. GMH Mortgage incurred costs in the amount of $425.00 and $67.37 = $492.37. GMH Mortgage Services has already refunded the customer the difference in the amount of $2.63.
·         Application Received and Rate Locked: 12/22/2014
·         Appraisal Requested: 12/24/2014
·         Approved with Conditions: 1/3/2015
·         Appraisal reviewed and cleared: 1/13/2015
·         Requested Closing date: 1/16/2015
·         Application Withdrawn: 1/30/2015
·         Deposit Difference Refunded: 2/4/2015

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Answered]
 Complaint: [redacted]
I am rejecting this response because:As usual GMH continues to be even more confusing and now yet another so called 'approval but withconditions'which in other words is not an' APPROVAL' its another run around ! From day one GMH has lied about this whole process! GMHhas not followed up on anything! GMH are a SCAM! GMH doesnt know what they are doing! GMH cant be a legitimate business???? Whatand Who are GMH???
Regards,
[redacted] And [redacted]

My refi experience with GMH mortgage (Best Rate USA) was horrible.
I have a 790 credit score, my property appraised at a 65% LTV and my debt to income ratio was 36%, but my loan was denied. Why? Because the W-2 income that I make as a CPA doing temporary work, which I've done for 8 YEARS apparently doesn't count in my income. When I called other banks (Wells Fargo and another similar Internet bank) to see if that made sense, they said no, my income meets national Fannie Mae guidelines (under 45% debt to income) and is stable and consistent income. This is a solid loan.
Apparently, BEST USA has its own lending guidelines, which are different than nationally accepted standards, and can approve whatever they want. To me, something doesn't smell right and I warn others to stay away.
This application process took 2 months and the loan officer, Ron T, let it drag on by not returning my calls or following up. I wasted money on an appraisal that can't be used with other banks and I now have a new, unnecessary credit inquiry on my credit report.