Intelliloan

We disagree with the Consumer’s statementThe FHA mortgage insurance premium (MIP) rate reduction (of basis points) that was set to go into effect on loan closings on or after 1/27/was a key part of the Consumer’s loan application for a new FHA streamlined refinance Unfortunately, on 1/20/President Trump immediately suspended the FHA MIP rate reduction that was to go into effect This negatively impacted the Consumer who, as a result, could not refinance his FHA loan with a streamlined refinance since he did not reach the required Net Tangible Benefit The Consumer had not returned signed disclosures until 1/30/ We had initially reach out to the Consumer informing him of the FHA rule change that made a FHA streamlined refinance a possibilityWhen the Trump administration repealed the rule we also reached out to the Consumer to let him know that the guidelines had change as a result the action of the new administrationWe informed the Consumer that the rule change was outside of our control and we went over the options on a full document refinanceThe Consumer’s reference to the increase to his loan balance due to the UpFront Mortgage Insurance Premium that FHA charges The Consumer would have received a lender credit as disclosed to cover some of the closing costsWhile we understand the Consumer’s frustration that he was denied, we disagree with his allegations of any deception

We appreciate the opportunity to further evaluate this matter and to have an additional opportunity to clarify the situation, which we have also done during the loan processOn 8-15-2016, the borrowers applied for 30-year fixed rate refinance mortgage with us and the interest rate was locked for days at a rate of 3.375% This was a full documentation loan which required the verification of all items necessary to approve the loan We promptly sent out initial disclosures to the borrowers on the same day of application, 8-15-2016, with instructions to sign the disclosures and return the requested documentation without delay in order to process the loanThe prompt return of signed disclosures and documents was crucial in order to have enough time to process, underwrite, and fund the loan within the rate lock period On 8-22-we had not received requested documentation from the borrower and we made another request to the borrowers On 8-23-2016, we received additional documentation but we still had insufficient documentation for a complete fileWe made repeated attempts to obtain the missing documentation from the borrowers, including our requests on 9-8-2016, 9-10-2016, 9-19-2016, 9-22-2016, and 9-29- Unfortunately, because of the delay in receiving all the necessary documents, the borrowers’ original 30-day rate lock expired and interest rates had moved up from where they were when the borrowers originally locked inWe had not made any agreement with the borrowers to extend the lock period beyond the expiration date As the rate was floating, the rate was subject to change We regret that the borrowers did not have a satisfactory experience and did not close their loan before the lock expiration We will have our Sales Director reach out to the borrowers as a courtesy

On 10/2/2017, Metropolitan Home Mortgage, IncDBA Intelliloan had refunded the $appraisal deposit to the Consumer’s Visa card We have a written confirmation of this refund Consumer should allow to business days for the refund transaction to be settled and to show up on the card We believe this matter is resolved, but should the Consumer need further assistance on this matter, Consumer may reach out to our Accounting departmentThank you

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution would be satisfactory to me. I will wait for the business to perform this action and, if it does, will consider this complaint resolved
Regards,
*** ***

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below
I paid the $450 by credit card over the phone, to Intelliloan directly, not a third party How Intelliloan chose to appropriate those funds was out of my control I stand by my assertion that I only paid the purported "deposit" under the assumption and perceived condition that I would be fully approved for the loan When they claim "certain factors affected the customer's qualifications" it is important to clarify that these were oversights by Intelliloan, not by me, and thus solely the responsibility of Intelliloan that failed to identify these factors prior to insisting I pay a "deposit" of $to move the application forward I provided all requested payment and information upfront It was their underwriter's decision - not mine - to reject the application
Regards,
*** ***

We promptly reached out to the Consumer to address his concern, and we received confirmation from the Consumer that he is satisfied and considers this matter closed We request that this matter be closed as this matter is resolved Thank you

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below
I am 100% Total Disabled Veteran after Years of serviceBecause of me having many Medical Issues from being in Viet Nam Tours, Granada, Panama and Desert StormI suffer from PTSD and this issue with this Company has make be very upset and having Serve PTSD and Rated at 70% Rating and I'm only a Heavy Pain Killers because of various Medical Issues that I have to live on a daily basisNOW I can't get a New VA Loan, I now Have to Pay out of my Pocket to have to Start all over again in Order for me to be able to Refinance using the Streamline VA Loan and I don't have the Money to do this and this Company Lied and I have the page One Letter with a VA Home Loan Number and when I signed the Papers I was told that it was a VA Loan and then my loan was sold to another Mortage Company under the Conditation that it was a VA LOAN and now I can't USE the VA Streamline Mortage because of Medical Issues they Took Advantage of me and I have Reported this Company to the VA Regional Offices in Phoenix who had informed me that my Loan was Never approved by this Company beauce they Lied toThey should NOT be Allowed to Mislead other Veterans like who was MisleadCase #: *** Sent to Business on: 02/11/Business Info: Intelliloan Park Plaza #Irvine, CA ###-###-#### http://www.metrohmmc.com Consumer Info: ***, *** *** *** *** *** ** *** *** ***@***.net Nature of the Complaint: Sales Issues Consumer’s Original Complaint: In November 2015, I refinanced my Home under the VA Streamline GuidelinesI was deferred two months on my payments as I have done before and I had just lost of my wife of years in July and her income stopped and I had to find a way to pay my billsI got the paperwork and filled out the paperwork and in June 2016, I had the opportunity to get my home again under the Streamline Guarantee set up by the VA for us Veterans where it only takes days to get my home set up and found out be the Cross Point Mortgage that my home WAS NOT a VA Loan, but when I submitted the Page One of my Current Mortgage and it has a VA Number and was told that Metropolitant Mortgage Never Files a the Guarentee Letter to the VA, but Yet my Home is showing that I have VA LoanSo on June 11, I received a Call from the VA Regional Center in Phoenix that My Loan WAS NOT a VA Loan and the Paperwork that I faxed to them said that it was a Fraud and that I was told when I signed the Paperwork that it was a VA LoanI then comtacted Metro Home Mortgage right after that and the person that did my loan said that he would look it up and get that letter sent to the VA and that was the last time I heard from himI have Called Times to Metro and in August after making calls in one day I was finial was transferred to *** *** and again all I got was the Run aroundHe told me that his Legal Department was working on it and would then notify me once they sent to Letter to the VA and then I could Refinance for 2.4% I called again on Feb 2, and left a message with *** *** to his direct Number ###-###-#### again he never called me back and again today Feb 10, at 1:pm Consumer’s Desired Resolution: I want Metro to either pay me for the Inconvience in which I had told *** *** ###-###-#### and he agreed that Compensation would work and I'm having a hard time dealing with the stress of the problemI am a Retired US Navy Combat Veteran and also 100% Total Service Disabled VeteranI also just lost my youngest daughter Oct 11, and again I called so many times to see about refianceing my home, but unitl Metro fixes the Problem, I have LOST OUT in getting my home at 2.9%.Case #: *** Sent to Business on: 02/11/Due to the Misleading of this Mortage Company saying they were offering me a VA Streamline Loan being a 100% Disabled Veteran and because of the Lies I was told and Mislead I have tried since June to Contact this Company with Filing several Complaints with the Revdex.com and *** *** and Was very upset that I had again filed serval Complaints with This Complany and All I get is the Run Around and because they Defrauded themselves and NOT a VA

We are sorry that the customer (“applicant”) did not have a satisfactory experience, however, we disagree and deny the applicant’s allegation or implication of improper activity We do understand that the applicant did not have a positive experience, and we have reached out to the applicant as
a courtesyDuring the loan application process, the applicant’s information and credit is checked for qualification and verification purposes The applicant signed a loan application agreeing to allow for the verification and reverification of such information The applicant applied for a loan program that required an appraisal report. The applicant paid $for the appraisal report that was prepared by a third party independent appraiserThe appraiser was paid after fully performing the appraisal services and preparing the appraisal report on the applicant’s property. A copy of the report was provided to the applicant, and the applicant acknowledged receipt on March 6, 2017. We request that this matter be closed. Thank you

ID ***
Intelliloan strives to provide
its customers with quality service and assist its customers in closing their
loans. Intelliloan denies the customer’s
allegations made against it and believes the complaint is not warranted The customer had locked in his rate on an
FHA
Streamline on March 11, 2015, and then decided to change his loan program to a
Conventional loan with a 4.250% rate on or about March 30, 2015. Intelliloan advised customer of the option to
buy down the 4.250% rate, but the customer did not wish to do this. On
March 30, 2015, Intelliloan provided the customer with a changed circumstance
letter with disclosures On March 31,
2015, Customer signed the acknowledgement of receipt of a revised Good Faith
Estimate and new lock agreement disclosing the terms of the 4.250% rate for the
conventional loan requestedCustomer was required to provide additional
documentation for the conventional loan After this complaint was made on or about May
7, 2015, the customer proceeded to close his loan with us by signing final loan
documents on May 12, 2015.
The appraisal for the transaction
had been fully performed by a third party appraiser, and the customer
acknowledged his receipt of a copy of the appraisal report on April 6, 2015. Intelliloan is unable to accommodate the
customer’s request for a refund of his appraisal fee. Intelliloan is considering this matter
closed

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below
[Provide details of why you are not satisfied with this resolutionPlease respond in this space ONLY]
Regards,
*** ***
When I signed the Contract by Metropolitan Mortgage, they Masked my Contract to seem that It was a VA Home Loan and why did they make it look like a VA with a VA Loan Number and why is it that I keep getting offers from other Lenders saying that my loan is a VA Streamline Loan and now I'm STUCK with having to pay out of pocket in order to have my home once again start from the Beginning to go through a Home Inspection, Refiniance all over again and then I won't be able to get a New Home Loan because my current home if Upside Down.I was told by *** *** about getting Money in order to get this taken care off and then again once call after an other and Until I filed this Complaint, they finally admitted in what they did and Now I can't get a Streamline Loan all because of Metropolitan Mortgage HomeIDON NOT AGREE WITH THEIR RESPONCE AND THEY NEED TO GET THIS RESOLVEDI am a VFW State Field Service Officer from California and my Complain has Begin in Spreading the works to over 328,VFW Memebers in this State

We appreciate the opportunity to respond to the issues cited by the customer.  Intelliloan strives to provide its customers with quality service and assist its customer in closing their loans.  The customer applied for a mortgage loan with Intelliloan on July 25, 2016 and the loan closed...

on August 1, 2016.  Our Director of Production has reached out to the customer to apologize for the delay in vesting the son on title to the property.  We have reached out to the Title Company to initiate the necessary paperwork needed to change the title vesting.  Our Director will personally work with the customer through the process of changing the title vesting to a successful conclusion.  The loan officer who worked with the customer is no longer employed at Intelliloan.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution would be satisfactory to me.  I consider this complaint resolved.
Regards,
[redacted]

We disagree with the Consumer’s statement. The FHA mortgage insurance premium (MIP) rate reduction (of 50 basis points) that was set to go into effect on loan closings on or after 1/27/2017 was a key part of the Consumer’s loan application for a new FHA streamlined refinance.  Unfortunately, on...

1/20/2017 President Trump immediately suspended the FHA MIP rate reduction that was to go into effect.  This negatively impacted the Consumer who, as a result, could not refinance his FHA loan with a streamlined refinance since he did not reach the required Net Tangible Benefit.   The Consumer had not returned signed disclosures until 1/30/2017.  We had initially reach out to the Consumer informing him of the FHA rule change that made a FHA streamlined refinance a possibility. When the Trump administration repealed the rule we also reached out to the Consumer to let him know that the guidelines had change as a result the action of the new administration. We informed the Consumer that the rule change was outside of our control and we went over the options on a full document refinance. The Consumer’s reference to the increase to his loan balance due to the UpFront Mortgage Insurance Premium that FHA charges.  The Consumer would have received a lender credit as disclosed to cover some of the closing costs. While we understand the Consumer’s frustration that he was denied, we disagree with his allegations of any deception.

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.
[Provide details of why you are not satisfied with this resolution. Please respond in this space ONLY]
Regards,
[redacted]

We have researched Mr. [redacted]’s complaint about his loan not being guaranteed by the VA and we believe this matter is resolved. We are attaching a copy of the VA Loan Guaranty Certificate for this loan showing that the loan has been guaranteed. This should address the Mr. [redacted]’ complaint.  We request that this matter be closed.  Thank you.

On 10/2/2017, Metropolitan Home Mortgage, Inc. DBA Intelliloan had refunded the $450 appraisal deposit to the Consumer’s Visa card.  We have a written confirmation of this refund.  Consumer should allow 3 to 5 business days for the refund transaction to be settled and to show up on the...

card.  We believe this matter is resolved, but should the Consumer need further assistance on this matter, Consumer may reach out to our Accounting department. Thank you.

We do not currently own the Consumer’s mortgage loan as the mortgage loan had been sold to another investor in January 2016, and further, we are informed that the mortgage loan was sold a second time.  We have no legal rights regarding the Consumer’s existing loan.  The Consumer would need to contact his current loan servicer.   As previously mentioned, there was no deception involved as we intended the Consumer’s loan to be guaranteed by the VA, however, the VA rejected guaranteeing the loan.  The Consumer is not owed something because the VA rejected guaranteeing his loan.  The Consumer can refinance under various loan programs to lower his rate.  While we regret that the Consumer is unhappy with his loan, we refute any liability.  We are also not in a position where we could do anything to the Consumer’s existing loan.  We had previously spoken to the Consumer several times about this. If the Consumer decides that he wishes to apply for a new loan with us, we are willing to assist him with that and we will provide him with a closing cost credit of up to $3,000 for any inconvenience.  Consumer may contact our Sales Director for further assistance.

Tell us why here...Our sales manager reached out to Ms. [redacted] personally to discuss the concerns she has with the appraisal.  With the value coming in lower than what Ms. [redacted] was expecting, we offered an alternative loan program that would meet her needs.  Ms. [redacted] decided to move...

forward with the new loan option.  We believe this issue has been resolved.

Our Sales Director had promptly communicated with the Consumer concerning his matter and had reviewed the options that are currently available with the Consumer.  The Consumer’s loan was not eligible to be guaranteed by the VA due to the rate not lowering on his most recent refinance, even...

though it was structured as a VA streamline.  Although the Consumer would not be able to refinance with a VA streamline loan, he could be able to refinance under a different loan program such as a conventional, FHA, or VA full document loan program.  Unfortunately, we cannot send a letter to the VA to fix this matter.  Our Sale Director did not convey to the Consumer that this matter could be solved by sending a letter to the VA by our Legal department or that the Consumer could refinance at 2.4%.  In addition, our Sales Director did not agree to provide compensation to the Consumer.  Our Sale Director conveyed to the Consumer that he may be able to refinance under a different loan program such as a conventional, FHA, or VA full document loan program.  We would be happy to assist the Consumer if he wishes to apply for a new loan.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution would be satisfactory to me.  I will wait for the business to perform this action and, if it does, will consider this complaint resolved.
Regards,
[redacted]