Guidance Residential

July 30, 2015Dear [redacted]: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 appraiser. That 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 transaction. Based on that possible misunderstanding, I have instructed our Accounting Department to issue you a check, under separate cover, in the amount of $425 which represents the amount you were charged for the appraisal.I trust that my apology and this refund will resolve your complaint with Guidance Residential.Sincerely,Bill M.Senior Vice President

August 19, 2015Dear [redacted]:According to Mr. E** you originally inquired about purchasing an investment property in the Chicago area. Mr. E** advised you that the purchase of an investment property would require a down payment of at least 20% as well as additional assets for reserves. Mr. E** 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 occupied. You indicated to Mr. E** that you would provide documentation from your employer that you were being transferred to Illinois. You continued to call Mr. Ei*, but failed to provide any documentation regarding an employment transfer to the Chicago area. Mr. E** 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[redacted], and your inquiry was forwarded to a different Account Executive, Nejat A[redacted]. Ms. A[redacted] obtained information from you to perform a pre-qualification and obtained your verbal authorization to obtain your credit report. Your inquiry with her was for a second home, rather than an investment or owner occupied property. After reviewing the information provided, including outstanding obligations from your credit records, Ms. A[redacted] 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

[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:
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]

[redacted]
[redacted]Bloomfield NJ [redacted] 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 complaint.To: Accounting DepartmentDate: 7/30/2015Please issue a check in the sum of $ $425.00In favor of Company Name: [redacted] Address: [redacted]Bloomfield, NJ [redacted]Deliver To: [redacted] When:Particulars (Explain Fully) AmountResolve consumer complaint re: GR [redacted] & [redacted] Appraisal Fee Refund $425.00Total $425.00Requested by: Approved Date Bill M[redacted] See E-Mail 7/30/2015Best regards,Heidi P[redacted]Guidance Residential, LLC

My name is Mohammad Asif with account number 8300042905 and email [email protected]
I have been a guidance residential customer since more than 10 years. If I had any deficiencies of paper work, the guidance residential's would let me know and then I would handle the rest. But last year in 2016, my insurance was expired and there was no letter sent to me letting me know its expired. I only received one letter about the condo policy inside insurance, so I took my insurance from allstate right away and sent them asserting that I didn't receive any letters or reminders from the guidance residuals about the condo building insurance. On the contrary, the letter I have received from guidance in 2017 was asking for condo association insurance. I talked to them many times and took the insurance from the state farm to fulfill the need. Now they are asking for insurance of 2016 which has already passed, and at the time they didn't buy any insurance for me or send me any paperwork. It shows that guidance is misusing its authority because I am not responsible to pay the 2016 insurance which they bought for me in 2017. My insurance for 2017 delayed, and in 2017 was the time they only bought the policy for me and send me the papers yet they didn't do anything for me in 2016. Although the policy was reversed since I bought my insurance now, they were asking for around 1,800 dollars from me because of doing nothing for me in 2016. We are a four-unit condo building where everyone shares and pays the bills. I asked the representative why he didn't buy or send any insurance for me in 2016 and if something happened to the building he would be responsible for the insurance, but he said no. I told him why he asked money for 2016 then, and so kindly told him not to charge any money. They didn't give me proper information and they didn't give me any reminder to buy insurance for me in the period of 2016. I don't know where else to go for that problem, so please solve the unfairness.

Review: I have refinance in my house back in Jan 2014, Guidance Residential has intentionally miss inform me of the terms of my refinance contract. They fraud me to sign a contract terms, that is not what we discuss in our meetings.

We agreed on refinance with the following condition;

1. I will pay a mortgage payments of $772 a month for 15 years I pay extra $18 processing fee that never been maintained in the original application

2. My interest rate is been calculated and charged month, rather than calculated daily and charged monthly as every other mortgage loan do.Desired Settlement: I would like to adjust the term of my contract to reflect what we agreed on.

Business

Response:

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

Review: It started out with the interest of getting refinanced with guidance. I was referred to rep. [redacted] who is a nice person and at first explained the process and fees and supposedly it took about 2days to get preapproved with them after they looked at my credit history. Meanwhile, I had to prepare all the docs and supporting paperwork talking to [redacted] during process and thinking its a done deal also he convinced me to rent my home instead of selling and waiting to sell after market gets better. The fees that we had to pay which is $99 credit and $375 appraisal is deducted from closing costs, so kept calling to see after 2 then 3 weeks he kept saying almost done then all of a sudden the email came saying we regret we can't work with you at this time. I don't have a problem with that answer but why did you look at my credit in first place and see what you needed and have me believe that everything is fine and do the appraisal. When I called [redacted] he said that you had a short sale and some payments weren't made so that's why but let me see what I can do even though the short sale was cleared the whole amount was waived and after that I left him an email and message and no return calls so at this point I think its misrepresentation and the services was not delivered as promised .Desired Settlement: The disputed charges on my credit card to be returned .

Business

Response:

In

response to the Revdex.com complaint #[redacted] from **. [redacted]

…

I have reviewed the circumstances and agree with **. [redacted] that

we should not have asked for a $375.00 property appraisal fee and completed an

appraisal on **. [redacted]’s property. After the application, credit, and

underwriting evaluation, it seemed apparent that we would not be able to help

**. [redacted]. The $99.00 application fee was reasonable for both the credit and

underwriting evaluation.

Attached please find my letter to **. [redacted]. We are sending him a

check in the amount of $375.00 as a refund of the property appraisal fee.

Regards,

SVP, Chief Operating Officer

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: In or around the beginning of January 2013 I spoke [redacted] a loan representative concerning refinancing my home.

I submitted a pre loan application, and upon completion was advised that I met the requirements to move forward with applying for a loan. At this point I explained that my past taxes had to be refilled and that I was in the process of taking care of these issues. I also explained that our deed still listed a guardianship which was dissolved due to our sons death. At this point I asked [redacted] if I should wait for these issues to be resolved or should we still move forward. He suggested that we could still move forward and instructed me that I could take my taxes to my local tax office and file my taxes. We filled out a tax request form for the IRS to get our past tax transcripts in accordance with the loan process, Which came back incomplete, and after this I still was advised that I could move forward. At the completion of the loan I was denied for these issues, which where already discussed before hand.Desired Settlement: At the vey least I would like to be refunded my appraisal fee.

Business

Response:

Please see the attached response letter.