Home American Mortgage of Denver

7/20/ [redacted] RE: Revdex.com Case # [redacted] Dear [redacted] : Thank you for bringing this matter to our attention HomeAmerican Mortgage Corporation (“HMC”) appreciates the opportunity to respond to [redacted] ’s concerns Our records reflect that [redacted] and her husband entered into a purchase contract with HMC’s homebuilder affiliate, Richmond American Homes, on or about October 24, [redacted] submitted a loan application to HMC to finance the purchase of her home on November 2, On that same date, an HMC loan officer issued a loan estimate to [redacted] quoting a 3.5% interest rate for the loan The loan estimate specifically disclosed that “[b]efore closing, your interest rate, point, and lender credits can change unless you lock the interest rate.” Additionally, neither the loan estimate nor any of the other initial documents provided to [redacted] represented that HMC would agree to match a lower interest rate offered by another lender The interest rate was not locked at that time Approximately seven months later, in June of 2017, Richmond American Homes advised [redacted] that the antici***ed closing date on her home was July 28, Following that date, [redacted] renewed conversations with HMC regarding loan pricing options Given the increase in interest rates since the date of the initial loan estimate, an HMC loan officer advised [redacted] on July 7, that HMC could no longer offer the loan at the 3.5% interest rate initially quoted Instead, the loan was offered at a rate of 4.5% Given [redacted] ’s dissatisfaction with the quoted rate, on July 10, 2017, HMC Management offered [redacted] a lower rate of 4.375% in the spirit of good customer relations HMC is unable to match the 3.85% interest rate as HMC has never represented that it could or would match another lender’s lower interest rate as proposed As explained in [redacted] ’s purchase contract with Richmond American Homes, [redacted] is not required to use the services of HMC There are other mortgage lenders available that offer similar services and [redacted] is free to choose the provider for those services If [redacted] elects to finance her home through HMC, she will receive all of the promotions offered by Richmond American Homes in the purchase contract’s Promotion AddendumIf she does not, some of those promotions will be forfeited as more fully detailed in the AddendumWe apologize for any frustrations or inconvenience this has caused but this is our final decisionShould [redacted] wish to continue discussions regarding the financing of her home through HMC, we encourage her to contact our Branch Manager, [redacted] ***, at [redacted] Please let us know if you have any questions Sincerely, HomeAmerican Mortgage Corporation

6/21/17 *** *** *** ***
*** *** ***
*** *** ***
*** ** *** RE: Revdex.com Case # *** Dear ***,Thank you for bringing this matter to our attention HomeAmerican Mortgage Corporation (“HMC”) appreciates the opportunity
to respond to *** ***’s concerns. Our records reflect that *** *** entered into a purchase contract with HMC’s homebuilder affiliate, *** *** ***, on or about January 18, *** *** completed a loan application with HMC to finance his home purchase on or about February 2, On May 11, 2017, HMC sent *** *** a notification informing him that his loan application had been preliminarily approved Included in the May 11th notification was a letter of commitment and a request for documentation required to underwrite the loanThe letter of commitment further clarified that additional documentation may be required to be submitted as a precondition to final approval. Following that date, *** *** submitted a number of documents to HMC in response to its May 11th request Upon review of those items, HMC made a determination that additional documentation was needed to submit the loan for underwritingThus, on June 14, 2017, HMC sent *** *** a supplemental request for documentation, which appears to be the subject of the instant complaint.We have reviewed the supplemental request for information and confirmed that it is necessary, appropriate and consistent with industry standards and applicable law HMC is therefore unable to waive the requestWe apologize for any frustration *** *** may have experienced in the course of his interactions with HMCShould *** *** desire to submit the requested documentation or further discuss his concerns, we encourage him to contact HMC’s *** *** *** *** ** *** *** ** *** Please let us know if you have any questions.Sincerely,HomeAmerican Mortgage Corporation

Complaint: ***
I am rejecting this response because nowhere in the response does HomeAmerican Mortgage state it has or will share, review, or forward this information to ** *** that we have provided to dateAs the lender we signed with, HomeAmerican knew about this issue and our request to review to review the issue to resolve since 1/19/2018. It would be helpful to understand if HomeAmerican provided the information about our situation with ** *** and shared the information we provided to justify and warrant review of the escrows to consider reanalyzing or if we have to start from the very beginning again. I have additional documents that I can upload, but HomeAmerican should have all the information I submitted from the Treasurer's and Assessor's office to share with the new servicer.
Sincerely,
*** ***

3/14/18   Denver/Boulder Revdex.com Attention: [redacted]   RE: Revdex.com Case # [redacted]   Dear [redacted]: Thank you for forwarding Ms. [redacted]’s additional concerns. On March 13, 2018, HomeAmerican Mortgage Corporation (“HomeAmerican”) contacted U.S. Bank to advise them of Ms. [redacted]’s complaint and the situation surrounding her property tax escrows.  On that same date, U.S. Bank advised HomeAmerican that it would be escalating Ms. [redacted]’s concerns to its servicing department for review.  If Ms. [redacted] should wish to reach out to U.S. Bank directly, she can contact them toll free at ###-###-####.   Sincerely, HomeAmerican Mortgage Corporation

Complaint: [redacted]
I am rejecting this response because: [redacted] has stated they did not receive any supporting information or background info from HomeAmerican mortgage. I have spoken with [redacted] customer service and consumer advocacy group. who I have now sent them all the information and are being told the issue should be resolved with HomeAmerican because they calculated the escrows. Given HomeAmerican has responded saying [redacted] calculated the escrows and [redacted] has stated HomeAmerican has calculated the escrows, we are consulting with an attorney with the communication in writing from HomeAmerican agreeing it was an error and could be fixed. We closed only on their confirmaton this would be resolved post closing and now feel stuck in the middle and that someone was not honest with us. We have had additional follow-up calls with the Maricopa Country Treasurer's office who has no idea how this happened and have in writing from HomeAmerican on the day and time we were at the closing table this was an error. Since then our questions have not been answered and the matter is not resolved. We now continue to be sent "you signed the documents at closing" and we will re-evaluate at a later day but [redacted] continues to tell us this is an issue with our original lender (HomeAmerican) and they are under the impression our new constuction home will be valuated in the Spring of 2018 and we will have an ACTUAL tax bill in April 2019. The assessor's office has told us that our property will continue to only pay land only taxes for the duration of 2018 and 2019, with our actual tax bill being due after we have the assessment if September 2019. This would make our first non-land/real valuation taxes due in April 2020. Our concern now is we will be stuck paying the miscalculated escrows for 2 years. Currently, our escrow account has $6000. By the end of the year we will have close to $15000 and the only taxes due according to the state are $787. That is an overage of over $14000. We completely support paying a realistic amount that allows eliminates risk by the mortgage company, but what we are currently paying is 2x that. This matter with Revdex.com can be closed, however it is not being closed due to resolution and not resolved to our satisfaction. It would have been appreciated with HomeAmerican worked with USBank and us to resolve like they promised me they would. Thank you to the Revdex.com for  your time and assistance with this matter. 
Sincerely,
[redacted]

7/20/17   [redacted]   RE: Revdex.com Case # [redacted]   Dear [redacted]:   Thank you for bringing this matter to our attention.  HomeAmerican Mortgage Corporation (“HMC”) appreciates...

the opportunity to respond to [redacted]’s concerns.   Our records reflect that [redacted] and her husband entered into a purchase contract with HMC’s homebuilder affiliate, Richmond American Homes, on or about October 24, 2016.  [redacted] submitted a loan application to HMC to finance the purchase of her home on November 2, 2016. On that same date, an HMC loan officer issued a loan estimate to [redacted] quoting a 3.5% interest rate for the loan.  The loan estimate specifically disclosed that “[b]efore closing, your interest rate, point, and lender credits can change unless you lock the interest rate.”  Additionally, neither the loan estimate nor any of the other initial documents provided to [redacted] represented that HMC would agree to match a lower interest rate offered by another lender.  The interest rate was not locked at that time.   Approximately seven months later, in June of 2017, Richmond American Homes advised [redacted] that the antici[redacted]ed closing date on her home was July 28, 2017.  Following that date, [redacted] renewed conversations with HMC regarding loan pricing options.  Given the increase in interest rates since the date of the initial loan estimate, an HMC loan officer advised [redacted] on July 7, 2017 that HMC could no longer offer the loan at the 3.5% interest rate initially quoted.  Instead, the loan was offered at a rate of 4.5%.  Given [redacted]’s dissatisfaction with the quoted rate, on July 10, 2017, HMC Management offered [redacted] a lower rate of 4.375% in the spirit of good customer relations.     HMC is unable to match the 3.85% interest rate as HMC has never represented that it could or would match another lender’s lower interest rate as proposed.  As explained in [redacted]’s purchase contract with Richmond American Homes, [redacted] is not required to use the services of HMC.  There are other mortgage lenders available that offer similar services and [redacted] is free to choose the provider for those services.  If [redacted] elects to finance her home through HMC, she will receive all of the promotions offered by Richmond American Homes in the purchase contract’s Promotion Addendum. If she does not, some of those promotions will be forfeited as more fully detailed in the Addendum. We apologize for any frustrations or inconvenience this has caused but this is our final decision. Should [redacted] wish to continue discussions regarding the financing of her home through HMC, we encourage her to contact our Branch Manager, [redacted], at [redacted]. Please let us know if you have any questions.   Sincerely,   HomeAmerican Mortgage Corporation

2/26/18   Denver/Boulder Revdex.com Attention: [redacted]   RE: Revdex.com Case # [redacted]   Dear [redacted]:   Thank you for bringing this matter to our attention.  HomeAmerican Mortgage Corporation (“HMC”) appreciates the...

opportunity to respond to Ms. [redacted]’s concerns.   Our records reflect that Ms. [redacted] and her husband (the “Borrowers”) entered into a home purchase contract with HMC’s homebuilder affiliate, [redacted], on June 17, 2017.  The Borrowers submitted a loan application to HMC to finance the purchase of their home on or about June 19, 2017.  On or about that same date, HMC prequalified the Borrowers for financing under a U.S. Bank “Core Portfolio” loan program through which first and second mortgage loans are directly underwritten and approved by U.S. Bank and originated by HMC.  HMC received notice of the Borrower’s intent to proceed with the proposed loan transaction on or about June 26, 2017.   Closing on the Borrowers’ home was scheduled for January 19, 2018.  On January 11, 2018, HMC issued a Closing Disclosure to the Borrowers that provided details regarding the terms of the mortgage they had selected, their projected monthly payments, and other costs associated with the transaction, including escrow payments for property taxes.  The escrow payments for property taxes were estimated at $507.18 per month, for a total of $6,086.16 over twelve months. The estimate was based on HMC’s good faith analysis of historic tax rates for properties of similar value in Maricopa County.   Prior to closing, HMC sent the Borrowers’ loan file to U.S. Bank to obtain final approval.  As a condition to final approval of the loan, U.S. Bank directed HMC to contact Maricopa County to confirm the property tax estimate in the January 11th Closing Disclosure, and to update the loan file if necessary based on the county’s feedback. When HMC made contact with a representative of Maricopa County, the representative estimated annual property taxes at $9,692.16, or $807.68 per month for escrow purposes. HMC updated the loan file accordingly and final approval was issued by U.S. Bank. The loan was sold to U.S. Bank following closing on February 12, 2018.    Because the escrow payments at issue were updated at the direction of U.S. Bank pursuant to their underwriting guidelines, and using a property tax estimate provided by an employee of Maricopa County, HMC was not at liberty to recalculate and amend the escrow figures subsequent to closing.  Furthermore, HMC is unable to provide the relief the Borrowers are requesting at this time because the loan has already been sold to U.S. Bank and the servicing of the Borrowers’ loan will be transferred to U.S. Bank as of the date of the Borrowers’ first payment on the loan.    We apologize for any inconvenience the Borrowers may have experienced in connection with the loan process. If the Borrowers have further questions or concerns regarding their property tax escrows, we encourage them to contact U.S. Bank toll free at ###-###-####.   Sincerely, HomeAmerican Mortgage Corporation

Denver/Boulder Revdex.com
Attention: Natasha Liebsock
1020 Cherokee St.
Denver, CO 80204-4039

RE: Revdex.com Case # 75226792

Dear Miss [redacted]:
This letter is response to Ms. [redacted]'s concerns expressed to your office regarding the quality of customer service she feels...

was provided to her by HomeAmerican Mortgage. Ms. [redacted] originally contracted on August 26, 2015 with Richmond American Homes (the affiliated home builder of HomeAmerican Mortgage) to purchase a home designated as home site [redacted]. The original estimated time of completion for this home would have been February 2016. Ms. [redacted] also had an existing home to sell before she could close on the purchase of this new home.
In the ensuing months, Ms. [redacted] sold her existing home and elected to purchase from Richmond American Homes a quick move in home (QMI) located in the Amber Meadows community on October 11, 2015 rather than wait for home in the [redacted] community to be completed. I cannot address what close date might have been represented to Ms. [redacted] by the Richmond American sales person for this QMI home.
Since the time Ms. [redacted] originally contracted to purchase the home in the [redacted] community in August of 2015, the Consumer Financial Protection Bureau (CFPB) implemented a new regulation, as a part of the Dodd Frank financial reform bill, known as the TILA-RESPA INTEGRATED DISCLOSURE (TRID) rule, commencing with loan applications taken on or after October 3, 2015. Since Ms. [redacted] contracted to purchase the home in the Amber Meadows after October 3, 2015, her mortgage loan application was subject to this new TRID rule. Under the TRID rule, lenders are required to provide a customer, such as Ms. [redacted], a newly created document called an initial Loan Estimate (LE) within 3 business days of application and before a newly created document called an initial Closing Disclosure (CD) can be issued. Under the TRID rules, the initial CD must be provided a minimum of three business days prior to closing so that the customer has an opportunity to review the CD and have any questions or concerns the customer might have with the initial CD addressed. While the TRID rule does contemplate that a consumer could waive the 3 business three business day requirement in limited cases of personal emergency, the investors to whom HomeAmerican Mortgage sells the loans it originates will not allow any waivers of this 3 business day requirement.
Given this TRID rule requirement, and the fact that Ms. [redacted] had now contracted to buy a different house from the one she contracted to buy in August, HomeAmerican Mortgage Corporation's Loan Officer, [redacted], was obligated to have Ms. [redacted] complete a new loan application for the [redacted] property which was done on October 12, 2015, one day after Ms. [redacted] signed the purchase contract for this home.
HomeAmerican Mortgage Corporation would like to apologize to Ms. [redacted] if she feels she received less than satisfactory levels of communication from me or from Mr. [redacted] or Ms. [redacted] the Loan Processor. Ms. [redacted] was informed that it would be nearly impossible to achieve a November 4th close date due to the regulatory requirements under TRID. Furthermore, Ms. [redacted] was not fully cooperative in providing the needed documentation requested by Amber which only delayed the loan approval process further.
Given the time restraints of the TRID regulation, Ms. [redacted] was advised that it was imperative that she provide the required documentation ASAP if there was any chance to close on the original close date of November 4th. In the end, in spite of Ms. [redacted]'s lack of full cooperation, her loan was fully approved by HomeAmerican Mortgage on November 4th. Given that this was one of the very first TRID loans HomeArmerican Mortgage closed, and the TRID process was still so new for lenders, consumers and title company alike, both HomeAmerican Mortgage and the title company that handled Ms. [redacted]'s closing had to resolve some new procedural issues before the initial Closing Disclosure (CD) could be finalized. The initial CD was issued to Ms. [redacted] by HomeAmerican Mortgage on November 6 but needed to be revised based on a change in the purchase price of the home. Ms. [redacted] acknowledged receipt of the revised CD on November 10, 2015. Based on Ms. [redacted] acknowledging receipt of the revised CD on November 10, 2015, she was advised by HomeAmerican Mortgage that the first possible closing date permitted under the TRID rules was November 13, 2015. Once Ms. [redacted] was provided with a close date of November 13, 2015, she became upset and combative at which time she contacted me.
Ms. [redacted] requested that I ignore the law, and the requirements of the investor to whom HomeAmerican Mortgage intended to sell this loan, and allow her to close earlier than November 13, 2015. As I told her the law is the law and investor requirements are what they are and I was powerless to change it. I explained to her that the Federal regulation was put in place to protect consumer like her, and that if she felt the need to do so perhaps she should write her congressional representatives to voice her displeasure with the regulation.
In conclusion, in spite of the challenges the entire industry was facing with the new TRID rules, and in spite of Ms. [redacted] being less than fully cooperative, Ms. [redacted]'s TRID compliant loan application was fully approved by HomeAmerican Mortgage in 23 calendar days, and the loan closed in 31 calendar days from date of loan application. Given the new TRID regulation which required that Ms. [redacted] be given time to review the Loan Estimate and 3 business days prior to closing to review the initial Closing Disclosure and Ms. [redacted]'s lack of full cooperation, HomeAmerican Mortgage believes it completed this loan file in a timely manner.
I trust that this letter will address any concerns your office may have with this matter. Should you have any questions, please do not hesitate to contact me at 703-390-1803.
Sincerely,
[redacted]
Regional Branch Manager
HomeAmerican Mortgage Corporation
12220 Sunrise Valley Drive, Suite 400
Reston, VA 20191
NMLS 143769