Greentree Mortgage Company, L. P.

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Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution is satisfactory to me
Regards,
*** ***

We decided to refinance our mortgage with Greentree Mortgage Company and in particular ASamuel *** He made our experience very pleasant He would keep in contact with with us throughout the process If I ever had a question, he always got back to me very quickly I cannot express just how pleasant and helpful he was during this sometimes complicated processI highly recommend Mr***and Greentree Mortgage

Please let this short reply serve as a response to the complaint filed by *** ** *** dated July 5, 2015. Greentree Mortgage Company, LP("Greentree") established in 1992, is a trusted lending organization with an excellent record of superior customer
service.Greentree initially processed a mortgage application for Mr*** in April, for a home that Mr*** did not end up purchasing. Mr*** submitted a second mortgage application in September, 2014. The interest rate was initially disclosed and accepted by Mr*** at 4.50%. Greentree worked very hard under difficult circumstances in order to obtain mortgage financing for Mr***. The mortgage was processed and the loan closed at 4.50% within a period of thirty (30) days. In addition, Mr*** was granted a Lender's credit and from all indications we have previously received, Mr*** was quite pleased with both the expedient processing of his mortgage loan and the Lender's credit

Absolutely a pleasure to work with this wonderful Mortgage Company. A. Samuel [redacted] worked on my loan and he is such a pleasure to work with. From the start to close, from the initial phone call to the closing of the loan, every detail, every paperwork... EVERYTHING.. was easy and painless. Mr. [redacted] team Tracy [redacted] Melissa [redacted] and many more I am sure who worked in the background made this look like a cakewalk. I have bought and sold many properties.. this one by far was the best experience. I have a loan officer for life now.. going to call Mr [redacted] every time I need a loan... thank you!

What a great experience with Greentree Mortgage Co. Steve C[redacted] helped me from the beginning. I didn't understand how to purchase a home until I talked to Steve, again without him I not sure this was possible for me. The whole Greentree staff was amazing. Thanks again Steve!

What a great experience with Greentree Mortgage Co. Steve C[redacted] helped me from the beginning. I didn't understand how to purchase a home until I talked to Steve, again without him I not sure this was possible for me. The whole Greentree staff was amazing. Thanks again Steve!

Review: This complaint is for an application to refinance a mortgage by the respondent. In the beginning of the process, I gave specific instructions to my loan officer that the amount of monthly savings was so low that any closing costs at all would prevent me from refinancing the loan. Rolling the amount into the loan was not acceptable from the beginning. I was assured that everything would be done to make me happy. From that point forward, I treated to an appraiser who only cared about her schedule and screamed at me when I questioned her rude behavior. I was begged to keep the process moving forward with a new appraiser. I did. The new appraiser was inaccurate in his assessment. He gave me a lower cost per square foot value relative to a recently closed property that lacked all of my upgrades. By that definition, my appraisal should have been equal to the comparable, not less. Instead of making this important, I was told this was a check box. To be clear, no one should be subjecting my financial future to a check box. The appraisal should be accurate as it has other effects for future transactions.

As to the closing costs, I enjoy a mortgage company that cries poor for my closing costs when they can post pictures of the sponsorship of a golf outing to social media the very same day they are telling me they can't waive all of the charges.Desired Settlement: I expect the following:

1. Business to adhere to it's zero closing cost representation. The cost out of pocket to close is zero. It is not rolled into the loan.

2. Errors and omissions from the appraisal are fixed.

Business

Response:

We have satisfactorily addressed any issues and questions with the borrower and he has moved on to closing the loan since. Please let us know if there are any issues.

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.

Regards,

Review: This complaint is for a mortgage product that was for a home purchase that closed on 9/30/2014. This is not for the subsequent refinance application previously submitted.

When the property closed on 9/30/2015, the interest rate was higher than what was represented through the process (4.25% vs. 4.5%). I was sore but figured on refinancing. When the refinance wen through, I discovered that I was not given what I believe to be is a standard rate lock of 60 or 90 days. In five previously purchased properties, I had rate locks of 90 days on each, even though closing was much closer than 90 days from the rate lock. My HUD appears to indicate 15 day rate lock, well below the average of 60 days on all 5 prior transactions. The failure to lock the interest rate and let it float cost me over $10,000 over the life of the loan.Desired Settlement: In exchange for a mutual release of all claims and expungment of all negative reviews from consumer oriented websites the respondent can choose:

1) Refund of the difference between the 4.25% rate quoted and the 4.%% the loan was floated to currently.

2) Refinance of the loan at a rate at or below 4.25% with any and all costs fees and escrow to ameliorate the failure to properly lock the loan being waived. Consumer is willing to wait for the rates to trend to this amount.

Business

Response:

Please let this short reply serve as a response to the complaint filed by [redacted] dated July 5, 2015. Greentree Mortgage Company, L. P. ("Greentree") established in 1992, is a trusted lending organization with an excellent record of superior customer service.Greentree initially processed a mortgage application for Mr. [redacted] in April, 2014 for a home that Mr. [redacted] did not end up purchasing. Mr. [redacted] submitted a second mortgage application in September, 2014. The interest rate was initially disclosed and accepted by Mr. [redacted] at 4.50%. Greentree worked very hard under difficult circumstances in order to obtain mortgage financing for Mr. [redacted]. The mortgage was processed and the loan closed at 4.50% within a period of thirty (30) days. In addition, Mr. [redacted] was granted a Lender's credit and from all indications we have previously received, Mr. [redacted] was quite pleased with both the expedient processing of his mortgage loan and the Lender's credit.

Consumer

Response:

Review: [redacted]

I am rejecting this response because the interest rate was not disclosed until August as changing to 4.5%. The business does not explain why there was no lock in at the lower rate or what happened between April and August nor did they present loan rates between April and August and what the changes were during that time period and why a 90 day rate lock was not employed.The business fails to describe what the difficult circumstances were: two separate Realtors on two separate properties misrepresented the home for sale and failed to disclose material latent defects. Labeling me as the problem is not going to justify the alleged misdeed.As the respondent states, I was initially happy with the service. After the lousy job on the refinance in May 2015, I re examined the records of the September transaction, discovered the irregularities in the rate lock, which prompted me to file this complaint.More information is needed from the business to support their positions.

Regards,

Business

Response:

Please let this short reply serve as a further response to [redacted]'s complaint dated July 5, 2015. Mr. [redacted] unfortunately confuses his mortgage application in April, 2014, which was for a different property, than the application and property for which Greentree closed a loan in September, 2014. The application for the property Greentree closed for Mr. [redacted] in September, 2014, was not submitted to Greentree until September, 2014 and was as a result of an agreement of sale in August, 2014. The interest rate was initially disclosed and accepted by Mr. [redacted] at 4.5%, which is the interest rate at which the loan closed.Mr. [redacted] now complains that he was not granted a rate lock in the spring of 2014 for a property which he had not entered into an agreement of sale for and had not submitted a mortgage application to Greentree for. The mortgage application was submitted to Greentree in September, 2014 and the mortgage loan closed in September, 2014. Unfortunately, a rate lock cannot be completed on a mortgage application without an executed agreement of sale on a specific property. A rate lock therefore could not take place under any circumstances until the agreement of sale was executed in August, 2014 and a mortgage application submitted.

Consumer

Response:

Review: [redacted]

I am rejecting this response because the business still misunderstands my complaint.The contract for the property that was purchased was executed in mid-August 2014. The respondent received all of the requisite paperwork prior to the inception of the contract on August 15, 2014. Had the business locked the rate between 8/15 and 8/29/2014, the prime rate changed little. However, the rate lock was not completed until 7 days prior to closing on 9/22/2014. This resulted in a significant jump in the rate by 0.25%. My argument is that had the respondent been more timely with their processes, I would not have incurred the increased rate. The business has not responded to this aspect of the complaint to date.

Regards,

Business

Response:

In response to Mr. [redacted]'s new variation of his complaint, as previously stated, the mortgage application, initial disclosures and final closing documents all had a fixed rate of 4.50%. Greentree honored this rate and, in addition, included a credit to the borrower towards costs of $1,230. Mr. [redacted] was quite pleased with both the expedient process of his mortgage loan and the lender's credit. Mr. [redacted]'s complaint, now 9+ months post-closing is simply without merit.