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Impac Mortgage Holdings

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Impac Mortgage Holdings Reviews (4)

Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this proposed action would not resolve my complaint For your reference, details of the offer I reviewed appear below Whether I did or did not qualify in reality, I was LED TO BELIEVE that I DID qualifyI have attached the PRE-APPROVAL LETTER that Impac provided meSo if I didn't qualify, why did the company provide me a letter that said the opposite? Regards, [redacted]

April 8, [redacted] Re: Complaint [redacted] Dear Mr[redacted] , On April 7, 2015, we received your response to our letter responding to the issues you raised Regarding your pre-approval letter, the letter clearly states, “the pre-approval is based upon our preliminary review of your credit information and your loan application only, and is not a commitment to lend.” The bottom of the letter also clearly states “the preapproval is accurate only as of the date hereof and is subject to change without notice.” Based upon the information you submitted to us prior to our issuance of the pre-approval letter, we were under the belief you had been self-employed for over years, which is requiredHowever, your CPA thereafter informed us that you had been in business for less than years, thereby causing us to not be able to approve you for a loan This is unfortunate, because we would have preferred to have been able to complete a loan with you Please let us know if you have any additional concerns Sincerely, [redacted] * [redacted] Legal Department

Decided to inquire with this company for a home RefiWent through the usual paperwork drill with a fellow named Sergio Tamayo, (Agent, NMLS# 41558)After a while, Sergio disappeared and another person started working on the fileThis person, fast-talking Mike Zylstra, (Agent, NMLS# 363852), went through the final paperwork and then handed it off to their processor, someone named Alexis KhucSoon after Alexis started, we began receiving cryptic and poorly written additional data requests bordering on gibberish, supposedly from the underwriterMy wife diligently sent all the data, only to have the target perpetually moveFinally, sensing that something wasn't right, my wife proceeded to contact both Mike and Sergio to inquire about the strange and contradictory requests (including asking us to somehow 'gin up' dummy documents that never existed) At this time, a new person took over the fileA person by the name of Paul Bae, (Loan Agent Supervisor, NMLS# 902878) started callingBut instead of using their required phone system that records calls, Paul started calling from a line with no recordingPaul's persona was one of a used car salesman, the guy they call in the industry, 'a closer'Paul went on to paint a dim picture, but he was 'on our side', and stated that Mike had made mistakes, but he would fix it, but we would need to get a loan with a higher rateAfter all, to use his own words, 'he doesn't want to over-promise and under-deliver', yet that was exactly what he was doing After calling his bluff on the two remaining items that the underwriter still had problems with (i.e., two trivial issues), he said that he would call me the next dayHe didn'tAfter reflecting on what I had heard and comparing notes with my wife, I pulled the plug on the deal this morningImmediately I received a call from Paul (on that same back phone line) telling me that all the problems had magically gone away I still squashed the deal as I was left with this nagging feeling that these guys thought they had a soft-target and they were going to engage in some predatory lendingAfter reading comments on the Revdex.com site, and looking at the linked legal cases they provide, I can see that my decision to walk from the deal was the correct oneI am planning on filing a complaint with the California Department of Business Oversight on Monday as this ordeal has all the hallmarks of a 'bait and switch' scam

Response submitted to the Revdex.com on April 2, Re: Revdex.com Complaint ID: [redacted] Loan Number: [redacted] Property: [redacted] *** Dear Ms [redacted] , Impac Mortgage Corpreceived your recent complaint to the Revdex.com on March 25, Thank you for bringing this matter to our attention and allowing us the opportunity to address your concernsWe reviewed the issues you raised and respectfully respond as follows: In November of the process of refinancing your home was initiatedTo refinance your home, an appraisal was ordered to complete the processDue to the remoteness of your property, an extra fee of $was incurred and it was miscommunicated to you that the $would be issued as a form of credit when the refinance was completedWe were informed that you were unhappy with the appraisal price and decided to cancel the loan transaction with ImpacIt was at that time you requested that your $additional appraisal fee be reimbursed We apologize that the wording we used to convey this cost to you was not clearA check has been issued to you for the $appraisal fee and was sent on March 31, If you have any further questions, or do not receive your check, please feel free to contact me Regards, [redacted] L [redacted] Impac Mortgage Corp

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Address: 19500 Jamboree Rd, Irvine, California, United States, 92612

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