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Guidance Residential Reviews (35)

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User Reviewer13242863 time Feb 06, 2019

RE: Revdex.comID#********; Guidance Residential file #*****Dear *** ******:We have received and reviewed the customer's response to our March 6, communication on the issues he presented in his original complaintThe Customer had previously determined to move forward with the transaction which is scheduled to go to closing on or about March 31, 2017.The customer originally applied with us for financing of an investment property on January 25, and confirmed his intention to move forward as an investment transaction on January 26, On January 27, 2017, the customer requested to change the transaction from an investment to an owner-occupied residential transactionRegardless of whether the transaction moved forward as an investment or owner-occupied transaction, an appraisal of the property was requiredThe Customer paid $for the appraisa report on February 1, The appraisal was completed and the appraisal report was provided to the customer on February 6, As requested, the transaction was reviewed as an owner-occupied propertyIt was determined that we could not approve the owner-occupied transaction for the reasons detailed in our prior response to you on March 6, The customer was provided the option of moving forward with the transaction as an investment property or as an owneroccupied transaction with the requirement that funds be held in escrow until the customer provided proof of occupancy (i.eutility bills, address change, driver's license change, etc.)Once the occupancy documentation was provided, the escrow funds would be refunded to the customerThe customer informed us he wanted to move forward as an investment transaction on February 18, Two additional appraisal reports ($each) were required to complete the review of investment transaction totaling $The additional cost would be charged to the customer at closing as part of the closing costsThe customer agreed to the additional appraisal costs on February 24, We also asked the appraisal company to expedite the reports at a cost of $which Guidance Residential paid and did not pass on to the customerA copy of the upgraded appraisal was provided to the Customer on March 3, 2017.The customer has stated that we misrepresented our requirements regarding the listing for sale of his current property in order to process the transaction as owner-occupiedOur account executive suggested that the customer list his current home for CGuidance Residential, LLCsale since the customer stated he was going to occupy the new property.** ****** ***** ***** ***** ***Reston, WA ** ** **, USA te|| ************) fax ********** www.GuidanceResidential.com AS we detailed in our prior response, we have addressed this issue with our account executiveThe customer listed his property as "for sale by owner" at ****** rather than list with a real estate agent/brokerFor sale by owner at ****** is a free serviceThe listing is totally within the customer's control to maintain at that siteThe customer has the option of acting on or ignoring any inquiries about his propertyIt does not appear that the customer incurred any expenses or harm by utilizing thisfree listingRegardless of whether the Current residence was listed for Sale or not, our underwriting and risk assessment would have the same result as explained aboveWhen presented with the options, the customer determined to move forward as an investment transactionWe do not believe that a refund to the customer of the appraisa fee is warranted based on the above information and the Customer's determination to move forward with the transaction as an investment propertyHowever, we are willing to pay for one of the additional investment property reports equaling $as a good faith measureWe will credit this amount to the customer's costs at closingIf the transaction does not close, we will refund this amount to the customer by checkWe believe our response should bring closure to this complaint.Please contact me if you have additional questions,Heidi P


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User Reviewer11142845 time Feb 01, 2019

Hello,
We have researched this complaint and have responded to the customer with an e-mail and a refund of both the application fee and appraisal fee per the attached copy of the e-mail to the customer. We trust that this matter is now resolvedBest regards,
Heidi
P******Guidance Residential, LLC


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User Reviewer12239149 time Jan 31, 2019

August 19, 2015Dear *** *******:According to MrE** you originally inquired about purchasing an investment property in the Chicago areaMrE** advised you that the purchase of an investment property would require a down payment of at least 20% as well as additional assets for reservesMrE** was subsequently advised that rather than purchasing the property for investment, you would transfer your employment to the Chicago area and the property would be owner occupiedYou indicated to MrE** that you would provide documentation from your employer that you were being transferred to IllinoisYou continued to call MrEi*, but failed to provide any documentation regarding an employment transfer to the Chicago areaMrE** refused to take any further calls from you unless that employment documentation was provided.You registered a complaint with the National Sales Manager, Abdullrahman N********, and your inquiry was forwarded to a different Account Executive, Nejat A*********MsA********* obtained information from you to perform a pre-qualification and obtained your verbal authorization to obtain your credit reportYour inquiry with her was for a second home, rather than an investment or owner occupied propertyAfter reviewing the information provided, including outstanding obligations from your credit records, MsA********* advised you that you would not qualify.As stated in my prior letter, we regret that Guidance Residential will not be able to help you at this time.Regards,Bill M.Senior Vice President


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User Reviewer11131446 time Jan 29, 2019

Complaint: ********
I am rejecting this response because:
You have completely glossed over and disregarded the fact that I was working with Account Rep Nabil E** for months before Nejat A********* came in the picture after repeated, and insistent communication over phone and email You have ignored the dozens of email communications where I begged your company for a response about my file (July 1st onwards) as my closing date was approaching You have ignored that I was supplied a pre qualification letter based on an application submitted to Nabil E** and confirmed by A*********** N******** Your response is arrogant, self righteous, and fradulent You did not address the fact that Nabil E** had my sales contract, personal financial information, and was working with my real estate agent for over a month before he completely disappeared And that the only response I received from your office was "He was busy." You are also lying about my prequalification being denied, because Nejat told me that I was qualified based on my income, and that I would need to move into my condo within a week in order to send the underwriter evidence of residency This was after you pulled my credit Why would she say that if I was not qualified? After I opened a Revdex.com complaint, I received a letter that I was not qualified based on income This is disgusting business practice, and you should be ashamed of yourself.
Regards,
**** *******


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User Reviewer12014986 time Jan 27, 2019

July 30, Dear *** ******:
I have investigated your complaint and find that you did apply for a housing refinance and your application was denied because your property does not meet our financing guidelines; more specifically, more than 10% of the units in your condominium
project have a single owner based on information obtained by the property appraiserThat information was not available to us at the time of your application.However, it appears that our Account Executive may not have fully explained that the appraisal credit would only apply upon a successful completion of your mortgage transactionBased on that possible misunderstanding, I have instructed our Accounting Department to issue you a check, under separate cover, in the amount of $which represents the amount you were charged for the appraisalI trust that my apology and this refund will resolve your complaint with Guidance ResidentialSincerely,
Bill MSenior Vice President


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User Reviewer11557624 time Jan 20, 2019

Complaint: ********
I am rejecting this response because:You have completely glossed over and disregarded the fact that I was working with Account Rep Nabil E** for months before Nejat A********* came in the picture after repeated, and insistent communication over phone and email You have ignored the dozens of email communications where I begged your company for a response about my file (July 1st onwards) as my closing date was approaching You have ignored that I was supplied a pre qualification letter based on an application submitted to Nabil E** and confirmed by A*********** N******** Your response is arrogant, self righteous, and fradulent You did not address the fact that Nabil E** had my sales contract, personal financial information, and was working with my real estate agent for over a month before he completely disappeared And that the only response I received from your office was "He was busy." You are also lying about my prequalification being denied, because Nejat told me that I was qualified based on my income, and that I would need to move into my condo within a week in order to send the underwriter evidence of residency This was after you pulled my credit Why would she say that if I was not qualified? After I opened a Revdex.com complaint, I received a letter that I was not qualified based on income This is disgusting business practice, and you should be ashamed of yourself.
Regards,
**** *******


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User Reviewer12516158 time Jan 17, 2019

[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: ********
I am rejecting this response because:In the response, the agent clearly said that their representative miscommunicated their policyThe timing of this miscommunication is the problemHad it been communicated clearly and according to company guidelines, then I might have not invested more money in the appraisalBut the correct information was given to me after I paid for the appraisal. I had already paid for an inspection, and two appraisalsOne appraisal paid by my son when he tried to apply for residential financing (note: he was rejected yet they are requiring him to be on the title), and one paid by meSo we were already invested into the property over $1000.Also, me choosing to continue the application doesn't absolve guidance of their negligence in this matterThey clearly have a problem with communicating company policy to their representative. The fact that they are going to be making over $100,in profit from this business transaction yet they are unwilling to provide some sort of minute concession to address the undue stress that they caused me and my family is indicative of their lack of concern for the consumer.
Regards,
***** **********


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User Reviewer11100912 time Jan 12, 2019

****** ****** ** ********* ****
*** *Bloomfield NJ ***** MESSAGE FROM BUSINESS:Hello,Please see the attached letter to the customer as a response to this claim We trust that this will resolve the issue Please do not hesitate to contact us further should we still need to resolve something else in this complaintTo: Accounting DepartmentDate: 7/30/2015Please issue a check in the sum of $ $425.00In favor of Company Name: ****** ****** Address: ** ********* ******** *** *Bloomfield, NJ *****Deliver To: ****** ****** When:Particulars (Explain Fully) AmountResolve consumer complaint re: GR ***** & ***** Appraisal Fee Refund $425.00Total $425.00Requested by: Approved Date Bill M**** See E-Mail 7/30/2015Best regards,Heidi P******Guidance Residential, LLC


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User Reviewer12347958 time Jan 11, 2019

[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: ********
I am rejecting this response because: the business did not admit their incompetency in looking at the ut austin contract which stated clearly that the employment is starting sep 1st and the closing to be july 18thThis is more than required month period of paystub to be provided after closing Which is required by their policyThat lack of communication dears, cost us thousands of dollars in lossesWe presented you with several contracts and you failed to verify them just because they r not enrolled in the payroll yetHow about u pick up the phone today and call both of our employers!! It was not enough for Guidance to put a condtion of 10k in held escrow to prove they r "money" not faith based bank but still just to delay the closing to harm us financiallySo to my dear brothers and sisters AVOID guidance if possible and seek an alternative Islamic Financial Bank Thank youBest Regards********
Regards,
******** *******


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User Reviewer8813898

November 4, 2014
Dear [redacted]:In response to your October 29, 2014 correspondence, I have reviewed [redacted]n’s complaint. I do not believe that **. [redacted]’s complaint has any merit. As I understand the complaint, the allegations are that the terms of his mortgage were not...

consistent with the disclosure at the time of application, and further we are inconsistent in the calculation of the monthly profit (interest) payment.On the date of the application, January 6, 2014 the appropriate disclosures, including the Truth in Lending Disclosure (TIL) and our program disclosure titled “Use of a Bankruptcy-Remote Limited Liability Company as Co-Owner and LLC Maintenance Fee (“LLC Fee”)” were electronically submitted to [redacted] and [redacted]. The TIL disclosure disclosed a principal and interest payment of $770.12 for a term of 15 years. The LLC Fee disclosure explains the use of and monthly maintenance fee of $18.75 for the use of an LLC as co-owner related to our unique mortgage product. [redacted]n acknowledged receipt of these documents on January 8, 2014 and indicated his intent to proceed with the transaction. (See attachment designated as Early Disclosures)
The mortgage transaction closed on February 6, 2014. The final TIL disclosure signed by the [redacted]ns is consistent with the early TIL terms, a 15 year term with a monthly payment of $770.12. The [redacted]s also signed the LLC Fee disclosure agreeing to the maintenance fee of $18.75 per month. The [redacted]s were also provided with a “Schedule to Co-Ownership Agreement” which clearly outlines that amortization of their payments over the 15 year term. (See attachment designated as Final Documents)We believe that our response should bring closure to this complaintRegards,Bill M


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User Reviewer7862814

September 28,2015Dear [redacted]:I have received your complaint, have interviewed Mr. Nabil E**, and have reviewed the disclosure documentation provided with your application and mortgage. I find that the early disclosures are consistent with the final charges at settlement.On July 6,2015 at the...

time of your pre-qualification, you were provided with an estimate of settlement charges that showed charges totaling $1,394.00 for Underwriting, Application, Processing, and Administrative Fees as well as an additional charge of $425.00 for an Appraisal Fee, (copy attached)On July 10, 2015 at the time of your application, you were provided with a Good Faith Estimate (GFE) indicating your origination charges would be a total of $1,394.00 (copy attached)On July 10, 2015 at the time of your application,you were provided with a second estimate of settlement charges that showed charges totaling $1,394.00 for Underwriting, Application, Processing, and Administrative Fees as for an Appraisal Fee, well as an additional charge of $425.00 (copy attached)On September 1, 2015 at the time of settlement, you were provided with a Settlement Statement (HUD-1) outlining fees consistent with the prior disclosures; an Underwriting Fee of $340.00 a Processing Fee of $390.00, an Administrative Fee of $565.00, of $99.00; at total of $1,394.00. This statement also shows that you paid and an Application $425.00 outside of Fee the closing for an Appraisal Fee. (copy attached)On page one of the Settlement Statement (HUD-1) line number 204 shows that the application fee of $99.00 was refunded as agreed upon the successful completion of your transaction. On page two line number 804 shows that you were given a credit of $10.00, the difference between the Appraisal Fee that you paid after authorizing your intent to proceed after application and the actual cost of the appraisal by Evaluation Zone in the amount of $415.00.Also, on page one of the Settlement Statement (HUD-1); line 205 shows that you were given an additional credit of $195.00 for timely submission of your underwriting paperwork.It appears that you may have mistaken the agreement to refund the Application Fee upon successful processing of your application with a refund of the Appraisal Fee. lt also appears that at no time did we disclose any less than $1,394.00 in origination fees.We are sorry for any confusion and trust that our explanation and the enclosed documentation help to clarify the details of your transaction.Regards,William M. Senior Vice President


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User Reviewer8368777

[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 Administratively Resolved]
 Complaint: [redacted]
I am rejecting this response because:
Each statement in your response is a lie.  Mr. E** never, ever, not once, requested an employment letter.  I advised him that I may work remotely.  These conversations all occurred via email and I have all the records.  He then advised me to send all of my financial documentation, which I did.  He then disappeared.  Can you tell me why he wanted my bank statements, employment records, and social security number if he intended to use it and disappear? I advise you to inquire as to why your employee, Mr. E**, feels the need to tell bold faced and blatant lies.  I also question why you defend a business practice of ignoring client calls, no matter your perceptions.  Your Revdex.com status should be revoked and you need to stop labeling yourself as Islamic.  After repeated inquiries, I received this email from Mr. E** on July 17th:
"Eid M[redacted],
yes, I'm working on your file. the corporate will email you the disclosures on Tue inshá Allah."
After I did not hear back from him, I was assigned a new case manager, Nejat, who told me Mr. E** was "busy, I don't know what happened to him" so she was assigned my file.  This was after repeated complaints to Mr. N[redacted].  Can you tell me where in that conversation anything regarding an employer letter came up?  I told both Mr. Eid and Ms. A[redacted] that I would provide whatever documentation was necessary, including any letters from my employer.  Further, I was putting down 20%, whether the conversation was about a primary residence or an investment property.  Check my application. Ms. A[redacted] told me "don't worry, we will make it work either way" and "you need to connect your utilities within a week to show that it's your residence."  Your continued incompetence is a testament to the sham of a company that you are.  I refuse to accept the continued lies that you make about my file and you need to be held accountable.  The complaint has also been lodged with the Federal Trade Commission.
Ms. A[redacted] and I had one conversation, after I had to chase her down.  I am happy to provide the audio of that call.  Either invest in better employees or stop covering up for the lies that they tell.
Regards,[redacted]


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User Reviewer7060436

[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.]
Revdex.com: Please also issue refund on application fee $99.00 which I paid twice as per [redacted] I suppose to get refund at closing since there will be no closing so please issue refund for that thanks.
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,
[redacted]


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User Reviewer8128077

[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 Administratively Resolved]
 Complaint: [redacted]
I am rejecting this response because:
Each statement in your response is a lie.  Mr. E** never, ever, not once, requested an employment letter.  I advised him that I may work remotely.  These conversations all occurred via email and I have all the records.  He then advised me to send all of my financial documentation, which I did.  He then disappeared.  Can you tell me why he wanted my bank statements, employment records, and social security number if he intended to use it and disappear? I advise you to inquire as to why your employee, Mr. E**, feels the need to tell bold faced and blatant lies.  I also question why you defend a business practice of ignoring client calls, no matter your perceptions.  Your Revdex.com status should be revoked and you need to stop labeling yourself as Islamic.  After repeated inquiries, I received this email from Mr. E** on July 17th:"Eid M[redacted],yes, I'm working on your file. the corporate will email you the disclosures on Tue inshá Allah."After I did not hear back from him, I was assigned a new case manager, Nejat, who told me Mr. E** was "busy, I don't know what happened to him" so she was assigned my file.  This was after repeated complaints to Mr. N[redacted].  Can you tell me where in that conversation anything regarding an employer letter came up?  I told both Mr. Eid and Ms. A[redacted] that I would provide whatever documentation was necessary, including any letters from my employer.  Further, I was putting down 20%, whether the conversation was about a primary residence or an investment property.  Check my application. Ms. A[redacted] told me "don't worry, we will make it work either way" and "you need to connect your utilities within a week to show that it's your residence."  Your continued incompetence is a testament to the sham of a company that you are.  I refuse to accept the continued lies that you make about my file and you need to be held accountable.  The complaint has also been lodged with the Federal Trade Commission.Ms. A[redacted] and I had one conversation, after I had to chase her down.  I am happy to provide the audio of that call.  Either invest in better employees or stop covering up for the lies that they tell.Regards,[redacted]


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User Yazan S.

This company present themselves as Islamic company that follow shria law. Their action is anything but Islamic. They lie, cheat and have no respect to people's time, money or effort. They call interest rate a profit rate and all their fees are more expensive than any bank I know.
They sell your loan as soon as they sell it to you and work with Interest based banks, check their website yourself. I would stay away from them.


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User Reviewer6644719

Hello,We have researched this complaint and have responded to the customer with an e-mail and a refund of both the application fee and appraisal fee per the attached copy of the e-mail to the customer.  We trust that this matter is now resolved.Best regards,Heidi P[redacted]Guidance...

Residential, LLC


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User Reviewer6959131

RE: Complaint #[redacted]Complainant: [redacted] - Guidance Residential Contract No. [redacted]Dear [redacted]:In response to your correspondence received October 11, 2016, have reviewed [redacted]'s Complaint. The Complaint Concerns fees charged in advance of closing, processing time for her application, the...

property value listed in the Completed appraisal report and the change in rate and points due to the appraisa report property value.[redacted] Submitted an application for financing with Guidance Residential, LLC ("Guidance") on August 17, 2016. On August 18, 2016, we sent an initial disclosure package to her with information about the transaction including the fees, processing time and requirements, [redacted] signed and returned the document package to us on August 18, 2016. As part of the package, Ms. [redacted] provided a signed intention to Proceed with Transaction document confirming that based on the information provided in the package she wanted to proceed with the processing of her application,In the complaint, [redacted] states she had never paid a lock fee, appraisal fee or condominium questionnaire fee prior to closing in previous transactions with other financiers. The timing of the payment of these types of fees is not uniform across the industry and there is no regulatory provision requiring these fees to be paid at closing. Guidance is not unique in requiring these fees to be paid prior to closing. The initial disclosure package provided to the customer at the time of application provided information about these fees. After receiving the document package, Ms. [redacted] provided her written intent to proceed with the transaction.Regarding the profit rate lock fee and the time to process the application, Guidance provided an informational document about locking the profit rate in the initial disclosure package. This document informs the customer that the average processing time for a transaction is 45 business days. This document further explains that Guidance does not charge a fee to lock the profit rate unless the customer opts to lock the profit rate prior to approval of the transaction ("early lock"). There is a $500 fee to early lock that is refunded to the customer at closing. Customers often choose this option to reserve a low rate that may not be available later in the processing of the transaction. On August 24, 2016, Ms. [redacted] opted to early lock her transaction with a 45 day lock period and pay the $500 fee. Considering this lock periodchosen, the transaction needed to close on or about October 8, 2016.Regarding the profit rate lock and the appraisal, **. [redacted] submitted her application advising an estimated property value of $540,000. Because the transaction was early locked and the appraisal report had not yet been completed, the estimated value stated by the customer was used to lock the rate. Following the [redacted]'s payment of the appraisal fee on August 24, 2016, the appraisal was ordered from an independent appraiser through an appraisal management Company ("AMC"). The lock agreement provided to the customer on August 25, 2016 states that if any of the terms or characteristics of the transaction change, then the terms of the lock agreement could change as well. On October 4, 2016, the Completed appraisal report was reviewed by our underwriting department. Because the report listed an appraised value of $499,000, a decrease in the value of $41,000 Compared to the estimated value reported by the customer, the loan-to-value percent ("TV") of the transaction increased, changing the characteristics of the transaction. This lower property value increased the LTV to 80.65, Because the LTV was now over 80 percent, mortgage insurance needed to be added to the transaction pursuant to federal and investor requirements. The rate and points needed to be reworked due to the increased LTV and to accommodate the cost of the mortgage insurance. On October 6, 2016, our account executive reached out to the customer with options for reworking the rate and points that included lender credits to reduce the impact of the increased points. The account executive also advised that we were contacting the appraisal management company to have a secondary review to assure there were no errors in the report including the comparable sales used to determine the value. On October 6, 2016, the customer emailed the account executive rejecting the possible options and requesting the transaction be canceled and the lock deposit refunded.Additionally, [redacted] stated in her complaint that the house next door to her sold for $534,000 which she felt should have caused her house to appraise at a greater value. She also implied the appraiser worked for Guidance. The property referenced by **. [redacted] sold AFTER the appraisal report was completed and provided to Guidance so it was not considered as a comparable sale to determine the value in the report. [redacted] cancelled the transaction before we could have a secondary review by the AMC. The AMC Selects the appraiser who visits the property and completes the report. All selected appraisers are vetted by the AMC to make sure there is no relationship with Guidance.While the lower property value that caused the change in rate and points was not within the Control of Guidance, we do understand that the reduced value did significantly affect the transaction and the Customer's willingness to move forward. As a result, for customer service reasons, we will refund the customer's early lock fee as she originally requested. A check for the $500 early lock fee will be mailed to the customer within five (5) business days of this letter.We believe our response should bring closure to this complaint.Susan P


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User Reviewer5793992

November 4, 2014Dear [redacted]:In response to your October 29, 2014 correspondence, I have reviewed [redacted]n’s complaint. I do not believe that **. [redacted]’s complaint has any merit. As I understand the complaint, the allegations are that the terms of his mortgage were not consistent with...

the disclosure at the time of application, and further we are inconsistent in the calculation of the monthly profit (interest) payment.On the date of the application, January 6, 2014 the appropriate disclosures, including the Truth in Lending Disclosure (TIL) and our program disclosure titled “Use of a Bankruptcy-Remote Limited Liability Company as Co-Owner and LLC Maintenance Fee (“LLC Fee”)” were electronically submitted to [redacted] and [redacted]. The TIL disclosure disclosed a principal and interest payment of $770.12 for a term of 15 years. The LLC Fee disclosure explains the use of and monthly maintenance fee of $18.75 for the use of an LLC as co-owner related to our unique mortgage product. [redacted]n acknowledged receipt of these documents on January 8, 2014 and indicated his intent to proceed with the transaction. (See attachment designated as Early Disclosures)The mortgage transaction closed on February 6, 2014. The final TIL disclosure signed by the [redacted]ns is consistent with the early TIL terms, a 15 year term with a monthly payment of $770.12. The [redacted]s also signed the LLC Fee disclosure agreeing to the maintenance fee of $18.75 per month. The [redacted]s were also provided with a “Schedule to Co-Ownership Agreement” which clearly outlines that amortization of their payments over the 15 year term. (See attachment designated as Final Documents)We believe that our response should bring closure to this complaintRegards,Bill M


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User Reviewer6450136

October 16, 2015Dear [redacted];Thank you for taking the time today to discuss your complaint. First of all, let me apologize for any inconvenience and your frustration regarding the fees charged in relation to your recent home purchase and your mortgage with Guidance Residential. I want to assure you that I accept your explanation and will take the appropriate steps to ensure your complaint is voiced to our Human Resources Department and appropriate members of our Executive Management Committee. Second, I will have our Accounting Department prepare a check in the amount of $395.00 to resolve the misstatement of fees and to bring closure to this matter.We at Guidance Residential appreciate your business and hope that we can assist you again in the future.Best regards, BillBill M.Sr. Vice President


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User Reviewer7605914

September 28,2015
Dear [redacted]:I have received your complaint, have interviewed Mr. Nabil E**, and have reviewed the disclosure documentation provided with your application and mortgage. I find that the early disclosures are consistent with the final charges at settlement.
On...

July 6,2015 at the time of your pre-qualification, you were provided with an estimate of settlement charges that showed charges totaling $1,394.00 for Underwriting, Application, Processing, and Administrative Fees as well as an additional charge of $425.00 for an Appraisal Fee, (copy attached)On July 10, 2015 at the time of your application, you were provided with a Good Faith Estimate (GFE) indicating your origination charges would be a total of $1,394.00 (copy attached)
On July 10, 2015 at the time of your application,you were provided with a second estimate of settlement charges that showed charges totaling $1,394.00 for Underwriting, Application, Processing, and Administrative Fees as for an Appraisal Fee, well as an additional charge of $425.00 (copy attached)
On September 1, 2015 at the time of settlement, you were provided with a Settlement Statement (HUD-1) outlining fees consistent with the prior disclosures; an Underwriting Fee of $340.00 a Processing Fee of $390.00, an Administrative Fee of $565.00, of $99.00; at total of $1,394.00. This statement also shows that you paid and an Application $425.00 outside of Fee the closing for an Appraisal Fee. (copy attached)
On page one of the Settlement Statement (HUD-1) line number 204 shows that the application fee of $99.00 was refunded as agreed upon the successful completion of your transaction. On page two line number 804 shows that you were given a credit of $10.00, the difference between the Appraisal Fee that you paid after authorizing your intent to proceed after application and the actual cost of the appraisal by Evaluation Zone in the amount of $415.00.
Also, on page one of the Settlement Statement (HUD-1); line 205 shows that you were given an additional credit of $195.00 for timely submission of your underwriting paperwork.
It appears that you may have mistaken the agreement to refund the Application Fee upon successful processing of your application with a refund of the Appraisal Fee. lt also appears that at no time did we disclose any less than $1,394.00 in origination fees.We are sorry for any confusion and trust that our explanation and the enclosed documentation help to clarify the details of your transaction.
Regards,
William M. Senior Vice President


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Guidance Residential LLC rating

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Category: Consumer Finance & Loan Companies

Address: 11109 Sunset Hills Rd Ste 200, Reston, VA, 20190

Website: http://www.guidanceresidential.com

129 people are currently seeking Guidance Residential contact information.