Home Point Financial Corporation

I would not recommend anyone going through their application process, nor would I wish what I went through to my worse enemyI have no problem not getting approved for a specific mortgage loan, but what I do have a problem with is being dragged for over two months (after pre-approval) letter was grantedAnd let me assure you NOTHING had changed prior to the pre-approval and the final stagesThey dragged the process on for so long, kept asking me for further stuff, and kept telling me if I provide one more documentation, I would be fine, and the moment I did that, there was something elseThey even charged me for the appraisal report, and then asked me to close some of the credit cards, which had $balance on them, and which I had for over yearsI regret closing these, because not only did they further hurt my credit score by requiring me to do all this nonsense, the loan application officer and the processor obviously had no clue what they were talking about until the loan went to underwriting, there was no need to do all of these things that I did for monthsReally the worst experience that I have ever hadNot only was the process unprofessional, but even the staff brought in personal excuses as to why the loan didn't go into underwriting at the right time, kept bringing up family, and how busy they were with other MORE important loansNot once did I feel welcome, nor did I feel like they actually cared about me as a potential customerOnce again, let me assure you nothing had changed between my pre-approval and approval timeEvery day they would tell me if I provide them with one more document, it would be "black and white" approval or not, and after I did it still kept going into circlesThey truly had no idea on how to do their jobPlease don't go through what I went throughI kept all of the documentation, and have all of the proof of what went with my process and how unprofessional they are

Home Point Financial is the folks to work withMy agent is Milissa F [redacted] Excellent she is the reason I have a homeVery knowledgeable in her fieldWent above and beyond to ensure my satisfactionShe also hand held me thru the entire process which made the experience so less stressfulIf you want to get results and the right results go to Home Point Financial Corp in Warwick RI

Complaint: [redacted] I am rejecting this response because: While I did hear from them that they were looking into my complaint, I have not heard from them since 3/11/ No resolution has been met at this time Regards, [redacted]

Dear [redacted] In response to your Revdex.com Complaint# [redacted] , we have issued your refund check Enclosed check# [redacted] in the amount of $for your reimbursement of the payoff required for the refinance of your loan We apologize for the inconvenience this has caused you If I can be of further assistance, please do not hesitate to call me Sincerely,

[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

Complaint: ***
I am rejecting this response because:
The facts in the response from Maverick are incorrect. The response states that I purchased a car for $30,351, not correct. I DID NOT buy a new car. I refinanced a car loan from one CU to another, which I disclosed on 11/when the transaction occured. The loan amount was $26,(not $30k+) and it lowered my payment and my DTI. This was an item that the processor (*** ***s) could not figure out. She also could not figure out that I paid off a car loan at the close of the sale escrow. *** ***s is a complete IT and should be fired. Oh wait, she already was. Even more indication that Maverick knew she was a problem and got rid of her. PROOF that they were at fault and won't admit it.
Regards,
*** ***

I received a check from Maverick yesterday for $286. Thank you so much for your quick response and your help in getting this taken care of. It was a pleasure working with you.
I would like to add that Ian was also pleasant to work with during the process. It was not until I tried to follow up with him regarding the reimbursement that there was an issue.
Thank you again for your responsiveness and assistance in getting my promised re-imbursement
Sincerely,

[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 ***, and find that this resolution is satisfactory to me
Regards,
*** ***

We are currently reviewing the Complaint and timeline of the loan in questionWe have been in contact with *** *** to let her know we recieved her complaint and are working on a resolution

Home Point Financial is the folks to work with.
My agent is Milissa F[redacted]. Excellent she is the reason I have a home.
Very knowledgeable in her field. Went above and beyond to ensure my satisfaction. She also hand held me thru the entire process which made the experience so less stressful.
If you want to get results and the right results go to Home Point Financial Corp in Warwick RI.

[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.

Letter sent to [redacted] 3/26/2014 
In response to the complaint that Maverick Funding Corp delayed the closing and funding of the above referenced mortgage transaction, we provide the following details:
The above referenced loan was originated by mortgage broker, [redacted] in October 2014.  The loan was received by Maverick Funding on October 21st and approved by underwriting, with conditions, on October 29th.    The initial loan application, Broker credit report and Maverick Funding credit report from October 2013 were used to underwrite this loan, in addition this loan was contingent upon the sale of the previous property for funds required for closing, that transaction occurred January 6, 2014.   On January 9, 2014 the Broker received a letter from the borrower that addressed credit report inquiries, in response to one of the original underwriting conditions.  That letter stated that on 11/27/2013, the borrower purchased a new car.   Maverick Funding had no knowledge of this car purchase, it was not disclosed by the borrower until we received her letter and ran a new LQI Credit report.   With this new information undisclosed debt of $30351, the loan was required to go back to underwriting for re-qualification and approval.  Underwriting suspended the loan due to the debt to income ratio exceeding FHA tolerances at 61%, and requested additional conditions related to the credit changes that needed to be explained by the borrower and cleared by underwriting to approve the loan.   On January 13, 2014 the conditions were received from the Broker and reviewed by underwriting on January 14, 2014, the conditions were insufficient to clear the suspension and approve the loan.   On January 15, 2014 the Broker provided additional conditions which were reviewed by underwriting on January 16, 2014, however, that information prompted additional conditions in order to clear the loan.  The loan documents were signed on January 17, 2014 with these conditions still outstanding.   On January 22, 2014 the broker provided sufficient information to clear the conditions and Maverick funded the loan.  
Based on the information provided and the timeline of the documentation submitted by the broker, Maverick Funding followed proper procedures during the process of this application and did not cause any delay in closing or funding the mortgage transaction.

[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,

Complaint: [redacted]
I am rejecting this response because:
While...

I did hear from them that they were looking into my complaint, I have not heard from them since 3/11/2014.  No resolution has been met at this time.
Regards,
[redacted]

May 26, 2016
Revdex.com of N.J.,
Please be advised that on Monday, May 23rd, 2016, Home Point Financial Corporation forwarded to [redacted] and [redacted] check no. [redacted] in the amount of $1,400.00 via FedEx overnight mail w/a Tracking # of [redacted].  In a telephone...

conversation on Tuesday, May 24th, 2016 Mr. [redacted] confirmed receipt.  This payment was submitted without prejudice and is not an admission of liability or wrongdoing.  The [redacted] have agreed to advise your Bureau that their complaint has been 100% resolved to their satisfaction.Thank you.
Respectfully,
[redacted], Esq.
Compliance Department
Home Point Financial Corporation

Dear [redacted]
 
In response to your Revdex.com Complaint#[redacted], we have issued your refund check.
Enclosed check# [redacted] in the amount of $286.00 for your reimbursement of the payoff required for the refinance of your loan.
 
We apologize for the...

inconvenience this has caused you.  If I can be of further assistance, please do not hesitate to call me.
 
Sincerely,

Review: We were in a purchase transaction with a 30 day escrow. We had provided all of the paperwork for the loan to close with ample time for Maverick to fund our loan. Maverick Funding took an extra 2 1/2 weeks to fund our loan, causing us to be without a home for that period of time. There were 3 transactions total. The people we sold our house to also sold their house. The first escrow closed on time and information was provided for the second escrow. The second escrow closed on time. Their lender took only 2 days to get docs out and 1 more day to fund the loan. The information was provided to our escrow company. Five days later they still could not figure out what they had in front of them. They should have been ready to draw docs within 3 days of the previous escrow closing, instead it took them 12 days. In the meantime we had to move out of the house we sold and because they couldn't fund our loan we (a family of 4) had to live with a friend. The were incompetent and careless. THIS IS THE WORST COMPANY I HAVE EVER DEALT WITH!!!!!!!!Desired Settlement: Their incompetence caused us over $3,000 in expenses just to be able to support our family with food, shelter and clothing for the 14 days we were without a home. Not to mention the stress and anguish of being, for all intents and purposes, HOMELESS.

Business

Response:

We are currently reviewing the Complaint and timeline of the loan in question. We have been in contact with [redacted] to let her know we recieved her complaint and are working on a resolution.

Consumer

Response:

Review: [redacted]

I am rejecting this response because:

While I did hear from them that they were looking into my complaint, I have not heard from them since 3/11/2014. No resolution has been met at this time.

Regards,

Business

Response:

Letter sent to [redacted] 3/26/2014

In response to the complaint that Maverick Funding Corp delayed the closing and funding of the above referenced mortgage transaction, we provide the following details:

The above referenced loan was originated by mortgage broker, [redacted] in October 2014. The loan was received by Maverick Funding on October 21st and approved by underwriting, with conditions, on October 29th. The initial loan application, Broker credit report and Maverick Funding credit report from October 2013 were used to underwrite this loan, in addition this loan was contingent upon the sale of the previous property for funds required for closing, that transaction occurred January 6, 2014. On January 9, 2014 the Broker received a letter from the borrower that addressed credit report inquiries, in response to one of the original underwriting conditions. That letter stated that on 11/27/2013, the borrower purchased a new car. Maverick Funding had no knowledge of this car purchase, it was not disclosed by the borrower until we received her letter and ran a new LQI Credit report. With this new information undisclosed debt of $30351, the loan was required to go back to underwriting for re-qualification and approval. Underwriting suspended the loan due to the debt to income ratio exceeding FHA tolerances at 61%, and requested additional conditions related to the credit changes that needed to be explained by the borrower and cleared by underwriting to approve the loan. On January 13, 2014 the conditions were received from the Broker and reviewed by underwriting on January 14, 2014, the conditions were insufficient to clear the suspension and approve the loan. On January 15, 2014 the Broker provided additional conditions which were reviewed by underwriting on January 16, 2014, however, that information prompted additional conditions in order to clear the loan. The loan documents were signed on January 17, 2014 with these conditions still outstanding. On January 22, 2014 the broker provided sufficient information to clear the conditions and Maverick funded the loan.

Based on the information provided and the timeline of the documentation submitted by the broker, Maverick Funding followed proper procedures during the process of this application and did not cause any delay in closing or funding the mortgage transaction.

Consumer

Response:

Review: [redacted]

I am rejecting this response because:

The facts in the response from Maverick are incorrect. The response states that I purchased a car for $30,351, not correct. I DID NOT buy a new car. I refinanced a car loan from one CU to another, which I disclosed on 11/27 when the transaction occured. The loan amount was $26,618 (not $30k+) and it lowered my payment and my DTI. This was an item that the processor ([redacted]s) could not figure out. She also could not figure out that I paid off a car loan at the close of the sale escrow. [redacted]s is a complete IT and should be fired. Oh wait, she already was. Even more indication that Maverick knew she was a problem and got rid of her. PROOF that they were at fault and won't admit it.

Regards,

Review: I worked with [redacted], Loan Consultant, to refinance my FHA loan in February. He originally told me that my cash to close amount would be around $800. I understood that this was estimated and was ok with the amount being a little off. On Feb 24th Ian emailed me that we were ok to close. I asked if I would need to get a certified check for the cash to close and he said I did not. He emailed me later that day stating that I did not need to provide a check when signing the forms because he was still working out the cash to close amount. I met with a rep from the title company to sign paperwork that day. On Feb 26th he emailed me that he could not get the cash to close amount lowered from $1005 and I needed to get a certified check for this amount and FedEx it to the title company using the label they provided, which I did that day. The check did not reach the title company until the week of March 3rd and my old loan was not paid off until then. Because of this delay, more interest had accrued on my loan and the pay off amount had increased by $286.06. Ian emailed me on Friday 3/6 to make me aware of this and stated that "I spoke with the executives at my company and they said if you pay the $286.06 today they will send you out a reimbursement for these funds", otherwise, my refi would be cancelled. I did pay this amount to [redacted] and my refi processed. I emailed Ian on April 1st to check the status of the re-reimbursement, and left voice mails for him. He did not respond. I emailed [redacted] Branch Vice President, on April 21st and also left multiple voice mails for him, none of which were responded to. Mr. [redacted] did answer my call at one point, but after stating who I was he said he would need to call me back in 10 minutes, took my #, and then never called me back. I am frustrated with the broken promise of the reimbursement, and even more by their total non-responsiveness to my emails & calls.Desired Settlement: To be reimbursed by Maverick in the amount $286, as was stated in writing.

Business

Response:

Dear [redacted]

In response to your Revdex.com Complaint#[redacted], we have issued your refund check.

Enclosed check# [redacted] in the amount of $286.00 for your reimbursement of the payoff required for the refinance of your loan.

We apologize for the inconvenience this has caused you. If I can be of further assistance, please do not hesitate to call me.

Sincerely,

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.

Business

Response:

I received a check from Maverick yesterday for $286. Thank you so much for your quick response and your help in getting this taken care of. It was a pleasure working with you.

I would like to add that Ian was also pleasant to work with during the re-fi process. It was not until I tried to follow up with him regarding the reimbursement that there was an issue.

Thank you again for your responsiveness and assistance in getting my promised re-imbursement.

Sincerely,

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,

I would not recommend anyone going through their application process, nor would I wish what I went through to my worse enemy. I have no problem not getting approved for a specific mortgage loan, but what I do have a problem with is being dragged for over two months (after pre-approval) letter was granted. And let me assure you NOTHING had changed prior to the pre-approval and the final stages. They dragged the process on for so long, kept asking me for further stuff, and kept telling me if I provide one more documentation, I would be fine, and the moment I did that, there was something else. They even charged me for the appraisal report, and then asked me to close some of the credit cards, which had $0 balance on them, and which I had for over 15 years. I regret closing these, because not only did they further hurt my credit score by requiring me to do all this nonsense, the loan application officer and the processor obviously had no clue what they were talking about until the loan went to underwriting, there was no need to do all of these things that I did for 2 months. Really the worst experience that I have ever had. Not only was the process unprofessional, but even the staff brought in personal excuses as to why the loan didn't go into underwriting at the right time, kept bringing up family, and how busy they were with other MORE important loans. Not once did I feel welcome, nor did I feel like they actually cared about me as a potential customer. Once again, let me assure you nothing had changed between my pre-approval and approval time. Every day they would tell me if I provide them with one more document, it would be "black and white" approval or not, and after I did it still kept going into circles. They truly had no idea on how to do their job. Please don't go through what I went through. I kept all of the documentation, and have all of the proof of what went with my process and how unprofessional they are.

Review: Multiple charges have been added to a reverse mortgage. They have added these charges to a balance that is being charged interest. They gave no prior notice that these charges would be added, and They will not provide any type of bill or itemization of the charges they have added to the balance of the reverse mortgage.Desired Settlement: Unless they provide an acceptable and legal reason for the charges they have added; I want the charges removed from the balance, along with any interest that has accrued on that balance.

Business

Response:

January 2, 2014

Re: Mortgage Loan [redacted]

Dear Mr. [redacted],

I am sorry and surprised to see that you are unhappy with the Reverse Mortgage loan that you closed with us in August of 2012.

While I am not specifically aware of what issues or concerns you have since we have not heard any complaint nor issue since your loan closed, I can assure you that there were absolutely no in appropriate fees charged on your loan.

As you may recall, your loan terms and final numbers were discussed prior to your closing and reviewed again during the closing. In addition, you had the federally mandated 3 business day right of rescission during which to change your mind and/or cancel your loan.

In reviewing your HUD-1 Final Settlement Statement, I see that we did not charge any fees to you from our company at all; no Origination fee or any fees paid to Maverick Funding.

The only fees charged were the ones paid to Third-party vendors and required by the terms of the loan; all of those fees are well within the required guidelines set by local and Federal law.

We would be happy to review each charge line by line with you if you would like to insure you understand what the total charges were and what services were provided for each fee.

Again, I am sorry to hear of your complaint and will do whatever we can to help resolve your issues and concerns.

Thank you.

Regards,

Consumer

Response:

Review: [redacted]

I am rejecting this response because: