InterContinental Capital Group, Inc.

We regret that [redacted] is interpreting the terms of repayment of her mortgage loan.  The closing of this transaction took place on August **, 2016.  At that time [redacted] executed her note which stated that the repayment period began on October *, 2016.  In September we sent a...

notice of assignment, sale and transfer to [redacted].  In that document it stated that the first payment due per the note, was to be made to Intercontinental Capital Group, and that all subsequent payments were to be made to PennyMac Loan Services, as the transfer of servicing of her mortgage loan would be effective October **, 2016.  (This is referred to as a "goodbye letter").  There was no duplication of payment.  The monies due Intercontinental had no relation to any closing fees or costs, but rather represented the first payment due under the terms of the note.In the event [redacted] is not able to locate this information on her documents, we would be happy to speak with her.  She can reach me directly at ###-###-####.

Thank you for notifying us of this issue. We apologize for the miscommunication and frustration, and are processing the refund. Please accept our apologies, and feel free to contact us directly if you need any additional assistance.

We have attempted to contact [redacted] to discuss his concerns regarding the mailing he received.  We have reviewed the mailer and would like to have a clear understanding of [redacted] specific objections.  Unfortunately, at this time we have not received a response.In the interim we...

have ensured that [redacted] appears on the "do not contact" and "do not mail" lists we maintain, and we have reached out to our mailing service to review these exclusions and make sure that the service has a comprehensive list.  We are also confirming with them that the mailer was indeed sent by them.We regret that [redacted] took issue with the mailer, and would appreciate an opportunity to speak to him to understand how his request for exclusion from contact was not honored.  We're very sorry that he received an additional mailer, and have taken steps to ensure this incident is not repeated.

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 and the matter has been resolved.
Sincerely,
[redacted]

A manager from the office with whom [redacted] and resolved the borrower's complaint by disclosing the results of our internal investigation.  First, by searching our loan origination system, there is only skeletal information about [redacted] in the system, which consists solely of his name,...

home phone number and present address, and the purpose of loan was marked as a refinance.  There is absolutely no other information in the system.  No credit was run through our system.  In an abundance of caution we searched the credit bureau's website and were able to determine that no one employed by ICG ran a credit report on [redacted].We are sorry to hear that [redacted] had a negative experience with a former employee of Intercontinental Capital Group.  As stated in the complaint, that employee is no longer with the company.

Intercontinental Capital Group strives for clarity and transparency in communication.  We are sorry that in this instance it appears that this may not have been the case.The office manager for the branch who initially contacted the customer has made contact again, and after discussion, we have...

been assured by our employee that the misunderstanding about the inquiry has been resolved.  We hope to hear from the customer if there are any remaining issues regarding this complaint.  If necessary, please provide contact information, as the number I have called does not appear to be the best contact number.

Dear [redacted],First, I want to apologize for any misunderstanding or confusion you may have had regarding the mailer you received.  If you received the mailer, it is because based on public records, your [redacted] loan was originated at a time when the MIP was higher.  Unfortunately, the...

only way to reduce the MIP is through a streamline refinance.  The [redacted] does not streamline borrowers directly or reduce the MIP, the only way it is done is through an [redacted] approved lender, like ICG.  This is why the [redacted] was unwilling to assist when you called.  I assure that the mailer was not incorrect and was sent to you for a specific reason based on your current loan's MIP rate.  Again, I apologize for any misunderstanding.  Also, any pull to your credit related to this review was a soft pull, and it will not negatively impact your credit if for more than 14 days.  By this point, any hit to the score has already been recovered.  If you have any other questions related to this matter, please do not hesitate to contact us, we would like to help and we want to make sure all your questions go answered.Kindly,Dustin D[redacted],President and CEOInterContinental Capital Group, Inc

Review: I was purchasing a coop in [redacted] and was dealing with a mortgage broker affiliated with ICG (based in **), who was then required to send my paperwork to be processed out of their [redacted] offices. Despite having already supplied all of my financial documents to the previous broker, I had to then resubmit everything all over again to the [redacted] office (both brokers knowing my proposed close date was 4/*/2014). My dealings with the [redacted] office commenced on March [redacted], 2014. I supplied all of my documentation once again, as well as paid for an appraisal for the apartment (appraisal company hired by ICG). From then on, the broker in charge was delayed in sending me any of the required documentation for coop approval (ex. [redacted] agreements, Recognition Letter), and informing me of which bank was purchasing my loan. I still was never informed what my mortgage rate was, despite repeatedly asking. Their only excuse was that the underwriter was not getting back to them. While the original Appraisal was conducted April [redacted], I was informed April [redacted] that they needed to conduct yet another appraisal because [redacted] (finally informed of the bank) required a new appraisal because the original appraisal company was blacklisted. I schedule the second appraisal with the building promptly for the next day. I continued to wait and wait over the next few weeks but only received excuses that I'll hear something the next day. I received no news and had to have my attorney and myself repeatedly reaching out to inquire for updates. I was already well past the original close date of 4/*/14. By the end of April (April [redacted]), I needed to vacate my current apartment (anticipating the original closing date), and needed to move my possessions. The current owners (who had vacated the coop I was purchasing) offered to allow me to store my possession in the coop at a rate of $115 per day. I had no other option, and was counting on the ICG broker's repeated promises of "tomorrow, tomorrow." So I agreed to pay the storage fees. However, after all this time, I had lost faith in this company to provide any services (over the past 7 weeks) and needed to fire them on April [redacted], 2014 and obtained the services of another company, which settled the entire mortgage in 2 weeks). I did not expect to encounter any issues in obtaining a mortgage, as my credit was excellent and was paying 20% down payment and was far from being cash poor. My experiences with the company in general as well as their staff were incredibly frustrating as they did not appear to know what they were doing and seemed lost. I would have fired them earlier if I had not trusted their promises that this would be a quick transaction.Desired Settlement: Reimbursement of $2,185 for storage fees (19 days x $115) required due to failure to provide promised services; $450 for cost of appraisal on coop.

Business

Response:

To Whom It May Concern:

The purpose of this letter is to inform the Revdex.com of the progress of this complaint. I spoke with the consumer and am now awaiting some documents from him so that we may work together to hopefully resolve the complaint. When the complaint is resolved, I will promptly notify the Revdex.com. Likewise, if it can't be resolved, I will make sure the Revdex.com is notified.

Sincerely,

[redacted]

[redacted]

[redacted]

[redacted]

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID# [redacted], and have determined that my complaint has NOT been resolved because:

[Your Answer Here]

I am writing to inform you that the complaint has not yet been resolved.

I am continuing conversations with ICG's legal counsel, but we have not yet come to a resolution.

In order for the Revdex.com to appropriately process your response, you MUST answer the question above.

Sincerely,

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me and the matter has been resolved.

Sincerely,

Review: On September **, 2015, a man by the name of Brett called my phone from this phone number- ###-###-####. He represented himself as an employee of Mortgage Lending Direct and asked me questions about my salary, employment, current loan, etc. Just when I was about to give him the last piece of information "to forward to Mike and Brian"- those are his exact words that he used frequently throughout our conversation- it dawned on me that this call came from a local number; Why would a national company have a local number? I told him I needed to call him back and I hung up the phone. I did call Mortgage Lending Direct to inquire about this specific employee and if they have local numbers- the answer to both were no! What kind of company uses these kinds of tactics to try and win customers over to themselves? I'm guessing Intercontinental Capital Group probable has difficulty retaining customers and getting new referrals via word of mouth. consequently, my credit monitoring agency alerted me today that there was a hard inquiry on my account by a Universal Credit Services. I called them and they gave me the number for this company-ICG, who does not even bother to answer the phone when I called- twice. I would like this inquiry to be removed from my credit report as it was not only fraudulently obtained, but also unauthorized. This company has a good rating on Revdex.com- I don't know how, I can only guess that the headquarters is not aware of these underhanded practices the other locations are practicing.Desired Settlement: I want this removed from my credit report and I want no further contact from this company via phone, email, mail- and whatever creative ways of outreach they may try in the future.

Business

Response:

I am so sorry for the delayed response on this case. I believe, according to the loan officer, that the dispute with the consumer was resolved the day the complaint was filed and thus thought the marked it as such. I apologize and will make sure a formal response is filed today. Respectfully, Brad A[redacted], Esq. General Counsel\Compliance | InterContinental Capital Group | [redacted]

[redacted]

Review: InterContinental is mailing misleading information via [redacted] to lead consumers to believe they are with HUD. Their enclosed documentation is titled 'MIP Reduction Case Number Request Form'. The consumer is lead to believe they are communicating with an actual government entity. This is a disceptive practice leading consumers to give personal information to an organization they otherwise wouldn't.Desired Settlement: I want this business to cease all communication with me. I want them to destroy any personal information pertaining to me. In addition, I believe this business practice should be discontinued and any applicable disciplinary action should be taken.

Business

Response:

Sear [redacted]We are in response to your complaint to the Revdex.com, and submit the below response.Simply put, the advertisement clearly states that it is not from the Government nor is it from your current mortgage company. The strictly enforced company policy is that all advertisements are reviewed by counsel prior to distribution to ensure compliance with state and federal laws. Specifically this advertisement was reviewed in consideration of Washington Administrative code [redacted] and RCW [redacted]. With regards to this it should be noted that the advertisement clearly states the company’s NMLS number and location. The letter also states, in the same size font as the rest of the letter, that "ICG is not affiliated with the current servicer of the subject note nor is ICG an agency of the federal government." In addition, the information in the letter is all factual, and the letter clearly contains the address, contact information for the company, as well as the HUD Lender ID as to fully disclose the company's license status.We are hopeful that this response clears up and confusion, and should you have any further inquiries - please do not hesitate to contact us.Finally, as you requested, we have removed your name from our mailing list.Respectfully, Dustin D[redacted],President/CEOInterContinental Capital Group

Review: [redacted] at InterContinental Capital Group was handling a refinancing on my fianc's house. I was not named in the contract at all but used my debit card to pay for the inspection on his home. Towards the end of the application process, a credit report showing the recent purchase of a car by my fianc drew attention and the application possibly was not going to be completed. In order to move the process along, I purchased the car from my fianc, putting it in my name and showing that he had paid off the debt, allowing the application for refinance to go through. In order to prove that the car was no longer in my fianc's name, [redacted] took out an auto insurance policy in my name, USING MY DEBIT CARD INFORMATION unbeknownst to me in the amount of $615.57. I believe this activity is illegal and immoral. When confronted about this, [redacted] promised to overnight a check to me to cover the withdrawal. He did not. I have since received back only $300 from [redacted] with him stating he never promised to pay me back the entire amount which is false. He said he would personally cover the entire amount. Again, I believe this activity to be illegal and immoral. I would like the remainder of my money returned to me immediately including interest.Desired Settlement: I would like the remaining balance of what [redacted] stole from my account ($315.57) returned to me immediately with interest on the entire amount of $600 .

Business

Response:

To Whom It May Concern:

I have reviewed the complainant's claims and throughout the hole loan process, it was revealed that the complainant needed car insurance in order to prove the car at issue was hers and not her husband, which would impact his ability to get a home loan. In addition, the car was not insured. The complainant shopped for insurance with my loan officer and agreed on a policy, my loan officer did this as a courtesy. Thereafter, and until this day, she continues to hold the same policy and continues to be insured with this carrier. The insurance she paid for is the insurance she got. As a courtesy, when she complained, the loan officer sent her a check for 300.00. Now the complainant is requesting her entire insurance bill be paid by the loan officer. While there is no reason for ICG to pay this consumers insurance bill, it is only an additional $300.00 and it simply is not enough money to fight over. Therefore, if the complainant is willing to sign a settlement and release, we will issue her the $300.00 she is requesting. I have reached out to the consumer with this information and am awaiting a response. I will update the Revdex.com as information becomes available.

Review: I was contacted by [redacted] at Intercontinental Capital Group and told that I qualified for a re-finance of my mortgage. After giving him personal financial information I was told that he would contact me within an hour. It has been 2 days and I can't reach him.Desired Settlement: I would like to be contacted by a representative of Intercontinental Capital Group to confirm that [redacted] is an employee and that I have not been scammed.

Business

Response:

[redacted],

Review: received a [redacted] notice that appears to be from HUD....references US department of Housing and Urban Development but as you read it the reference is MA office of Consumer Affairs and Business regulation . It lists a page of government references but no indication it is from a company. Another red flag says it was sent by [redacted] but came [redacted].Desired Settlement: If you are going to solicit people state your name clearly. I reversed looked up the phone number to find out it was not from the government.

Business

Response:

We apologize for the late response as we were not aware of the complaint sooner. ICG is extremely cognizant of both federal and state regulations and informal opinions regarding mortgage banking advertising and direct response mail. All of ICG’s mailers are thoroughly reviewed by counsel to ensure that it does not violate any local or federal regulation. The “mailer” that [redacted] received was not meant to deceive in any way. In fact, the mailer clearly indicates that ICG is NOT affiliated with the federal government and is an independent mortgage company. However, ICG prides itself on integrity and fair dealing. We strive for 100% customer satisfaction and we currently hold an A rating with the Revdex.com. We always listen to consumers and welcome their feedback. In response to this complaint, ICG has amended its mailer to more prominently display the company name so their can be absolutely no confusion on the part of consumers. We are confident that the amendment to the mailer will satisfy the concerns [redacted]’s expressed in her complaint. If you require anything further, please do not hesitate to contact me.

Review: This company sent a letter with [redacted] and with no clear indication it was a company unaffiliated with [redacted]. The letter said it was an opt-in for a reduction in my [redacted] mortgage insurance payments. I [redacted] thought it was legitimate and signed it and returned it to the fax number indicated. Upon following up by telephone, they were reluctant to tell me the name of the company. Finally I got a call back from someone who went into a sales pitch, but I am uninterested in what seems to be a duplicitous attempt to get me to refinance.

My worry is that I signed their original document asking me to opt-in, and they could use that to try to refinance my loan or mess with my loan without my informed consent.Desired Settlement: I do not want them to do anything with my information. I provided my phone number and signature. I do not want to refinance my home loan. I do not authorize them to do anything. I do not want to do any business with this company.

Business

Response:

[redacted],First, I am sorry you had any trouble with InterContinental Capital Group, Inc. We take pride in educating our consumers and ensuring that they are versed with regards to the issues surrounding our products. That said, in your complaint, you mention that there is no mention as to who the mailer came from or that we are not affiliated with [redacted]. This is not so, the cover of the letter clearly stated the name of the company, along with our licensing information and address. Then on the actual letter, it says in clear font, in the letter that "ICG is not affiliated with the federal government nor associated with your current servicer." Further, within the letter there is clear information to explain that ICG is a [redacted] approved lender and the ICG [redacted] lender ID is clearly displayed. All of this is within the letter. Additionally, it should be noted that the reason you got the letter is because the [redacted] on your current loan is higher than the current [redacted] being offered for [redacted] borrowers. Further, the only way to lower the [redacted] is to streamline your current loan through a streamline refinance. A streamline is like a regular refinance but without the fees and without the hassle of document verification associated with a regular refinance. As it stands, the [redacted] will not work directly with borrowers to reduce [redacted], the only way for this to be achieved is through a streamline with a [redacted] approved lender, such as ICG. If you do not wish to work with ICG, you should inquire with any other [redacted] approved lender to see if streamlining makes sense for you, especially given the [redacted] rate you have as your loan was originated prior to Jan of this year. Despite this, it is now clear that you are not interested in streamlining your loan with ICG at this time. Therefore, despite you having faxed back the initial inquiry form, we will not be moving forward, and have discarded and destroyed any information received. If you have any other questions related to this matter, please do not hesitate to contact us, we would like to help and we want to make sure all your questions go answered.Kindly,Dustin D[redacted],President and CEOInterContinental Capital Group, Inc

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me and the matter has been resolved.

Sincerely,

Because I'm self employed, I wasn't able to secure the cooperation of most of the well known lenders. Jimmie J[redacted] at ICG worked with me and got me approved at a great rate. I would recommend this company and Jimmie in particular to anyone looking for a home loan. They were the best.

Review: I was contacted to lower my mortgage insurance premium. I was not advised that this was there sly way of "REFINANCING" I was also not informed that this was going to be a hard impact inquiry on my credit score and I want this inquiry reversed immediately. They throw around FHA as if they are affiliated and they are not.Desired Settlement: I want this inquiry removed from my credit score or I will share with every and anyone I know of the trickery and misleading.

Business

Response:

Tell us why here... After receipt of this complaint we interviewed our mortgage loan officer in regards to his interaction with [redacted]. [redacted] called Intercontinental Capital Group (ICG) about lowering her monthly FHA premium rate. During the phone call, the mortgage professional clearly identified himself as a loan officer with Intercontinental Capital Group and discussed lowering [redacted] mortgage payment through an FHA Streamline refinance mortgage program. During the call, [redacted] and the mortgage loan officer discussed options for refinancing and [redacted] provided the loan officer with her name, address and social security number and verbally authorized ICG to run a limited credit inquiry confirming only her mortgage history. A full credit report was not pulled.

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID# [redacted], and have determined that I did not authorize my credit be checked and he kept saying it was an FHA reduction for my mortgage insurance.

In order for the Revdex.com to appropriately process your response, you MUST answer the question above.

Sincerely,

Business

Response:

It is the policy of Intercontinental Capital Group, Inc. to always obtain authorization from an applicant in order to run credit. That is the basis for the request of the Mortgage Loan Originator and response by [redacted] for her social security number. It is accurate that the proposed transaction was in order to reduce the FHA mortgage insurance through their streamline program.

Review: Same as others who have filed a complaint:

-This company has mailed me misleading advertisements for financial services.

-In their mailing, they misrepresent themselves as an agent of the US Government (HUD).

-They make false claims in the mailing, including how they sent me a notice in a official manner (i.g., "You were notified vi [redacted]").

-The used misleading design tactics (e.g. digital bar codes and logos of other accredited agencies) that are not functional or to spec.

Furthermore, I have been unable to contact the company to address my concerns directly:

-The "contact us" portion of their website is defunct.

-Their website contains several security errors (PHP code - have your web developer debug your site)

-The "live" chat feature reports that they are no longer a client.Desired Settlement: Remove me from your mailing lists. Stop sending people misleading and poorly worded advertisements. Fix your website.

Business

Response:

We have attempted to contact [redacted] at the phone number referenced in the complaint to discuss his concerns about the content of Intercontinental Capital Group (ICG)’s mailer. Unfortunately, [redacted] did not return the voice mail left for him.The assertions made by [redacted] are not accurate. The “logo” he claims to be misleading is the Equal Housing Lender logo which is required on any mailer sent out by a mortgage banker. It is not intended to indicate ICG is a governmental agency. Further, the mailer clearly states “ICG is not affiliated with the current servicer of the subject note nor is ICG an agency of the federal government”. This language illustrates that it was never the intent of ICG to mislead a consumer. The complaint also mentions that the live chat feature on the company’s website is not functional. However, the mailer in no way mentions any website nor is any link provided to go to a website. Rather, the mailer only provides a call in phone number to contact the lender. Additionally, the digital bar code is not meant to mislead but rather it is the only way that ICG can track the mailers it sends out. It is for general marketing purposes only. [redacted] is correct that the mailer was not delivered via [redacted]. This was ICG’s marketing company’s failure to change the mailer to indicate the proper method of delivery and we have been ensured that this will not happen again.ICG takes any consumer complaint very seriously and we are sorry to hear that [redacted] thought the advertisement was misleading. That was never ICG’s intent. That being said, we were hoping to speak with [redacted] to get direct feedback to see if there is anything we can do differently in future mailers.Thank you.

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID# [redacted], and have determined that my complaint has NOT been resolved because:

Thank you for contacting this company. Although they have suggested that their marketing practices are NOT misleading, I have reviewd thir mailer with my lawyer and an advertising agency here in Los Angeles and all agree that this company may be in violation of both FTC and HUD regulations for how they are contacting potential customers. I would recommend that the Revdex.com require this company to review their direct mail advertising practices and reviswe thier mailers so as not mislead potential customers in the future. I would also recommend a more direct address removal method to let people opt out of these unsolicited mailings. I would like to close this matter. Please ask this company to remove my information from their mailing lists (all of them - I see that that send messages under their various company aliases). For the record, the did not have a web address on the mailer. I discovered their website(s) when tying to find a way to contact the company in writing.

In order for the Revdex.com to appropriately process your response, you MUST answer the question above.

Sincerely,

Business

Response:

In response to [redacted]'s last communication we have created a "Do Not Mail" list and have added [redacted] to it to ensure that he does not receive any future mailers from Intercontinental Capital Group. We would still welcome the opportunity to speak with [redacted] as it is always the desire of the company to get direct feedback from consumers so that we may improve our services.Thank you.

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me and the matter has been resolved.

Sincerely,

I was working with Evan A[redacted] from the company and he ran my credit after the first time I authorized it without my permission.he never calls anyone back and I called the company to complain and they didnt care. Horrible people who have no idea how customer service works.

Review: In the last 4 days I have received 2 identical letters from InterContinental Capital Group that cross the line from junk mail 'mortgage refinancing' advertising into phishing. The language in the letter implies that my existing mortgage is eligible for a reduction in PMI, that ICCG has approval from the US Department of Housing and Urban Development to be contact me, and that I should call them to "open a case number" on my behalf. The letter does state that ICCG is not an agency of the federal government. However, the accompanying documentation appears to be photocopies of Department of Housing and Urban Development policies; all pages of this mailer, except the cover letter, have the Department of Housing and Urban Development letterhead at top. The last page of the accompanying documentation has a code 39 barcode that mimics the look of stockholder, retirement investment, etc. communications. I believe this company is intentionally trying to mislead consumers into contacting them and providing information about their existing mortgages. There is no direct reference in the cover letter or loan that the respondent will need to refinance their loan to take advantage of any supposed changes, and that THAT is what ICCG is actually contacting them about.Desired Settlement: That ICCG stop sending these misleading mailers to anyone.

Business

Response:

Dear [redacted]:

Review: On the [redacted] of October 2015, I refinanced my home with Intercontinental Capitol Group to purchase a second home. The seller of the second home would get half the funds on the [redacted] of October and the rest by December **, 2015.

I did such with ICG under the promise that they would approve the rest of my loan by December **, 2015 to complete the purchase of the property. Since the signing on October **, 2015, I have contacted the ICG representative, JOSEPH K[redacted] to no avail. The last email I received from him was on November [redacted], stating that all was well and the second closing was on schedule.

Since then there has been no further contact and I have lost the opportunity to finish the second closing. On December [redacted], 2015, I was contacted by a associate of ICG, Tony L[redacted] via email requesting paperwork to continue my application. Paperwork was sent and since then there has been no response.Desired Settlement: I would like ICG to finish the job that was started.

Business

Response:

We apologize for the delay in responding to the complaint, but delivery to us of this complaint was delayed. As [redacted] stated we successfully completed a transaction wherein we facilitated a cash out refinance of his home. Subsequently, we did request preliminary information from him in order to prepare to take an application for his purchase. At that time it was discovered that [redacted] was seeking financing for a commercial property. Intercontinental Capital Group does not finance this type of property. However, as an accommodation, we made inquiries to other lenders to determine if they would be able to facilitate his transaction. Subsequently we were contacted by the real estate broker with whom [redacted] was working and informed that he had found a funding source for his purchase.We regret that there may have been any misunderstanding on our client's part about our ability to make a purchase money loan on this type of collateral which is why our employee never took an application from him.

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID# [redacted], and have determined that my complaint has NOT been resolved because:

[Your Answer Here]

ICG have never communicated with me that there was an issue with the second property being a commercial property. My last email to Joseph K[redacted] was on December **, 2015 requesting any updates or issues they might have, there was no response for this email or phone calls.The closing date was scheduled for December **, 2015, and prior to that date I was assured by Joseph K[redacted] there were no problems, through various conversation and saved emails. I can provided the if needed.Finally, ICG never reached out to me, by my advisor after I filed my complaint with the Revdex.com. My advisor is not the person who signed for a loan, so I do not know why that was done. I can provide all emails and texts that I have saved as proof.

In order for the Revdex.com to appropriately process your response, you MUST answer the question above.

Sincerely,

Business

Response:

Tell us wWe regret that [redacted] is dissatisfied with ICG. We have interviewed several of our staff and gone through our e-mail records. Our understanding from our investigation is as follows: [redacted] filed an application with ICG to refinance his home. The purpose of this refinance was for [redacted] to cash out approximately $500,000 in order to invest those funds in another property. That application was consummated and we were able to provide the client with the cash he requested. [redacted] did discuss using that cash to finance the purchase of another property and to potentially apply to finance the balance of the purchase price. After the consummation of the transaction on his home, [redacted]’s realtor contacted us to advise that [redacted] had used the funds to buy an interest in a corporation that owned a commercial property. That property was “in distress” meaning the mortgage was not being paid. It was [redacted]’s intention to refinance the current mortgage. After making inquiries with one of our lenders, we advised the realtor that we could not take an application for this transaction as it was not what we had understood from earlier discussions with the client. We did not have a program that could: a) finance a commercial property, b) be eligible to “bail out” a distressed mortgage, and c) make a loan to a corporate entity. We did, upon request, further inquire with another lender and we were advised at that time that they also would not consider this financing. Upon our relaying that information, the realtor advised us that [redacted] had secured other financing. At no time did we have an active application on this transaction. hy here...

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID# [redacted], and have determined that my complaint has NOT been resolved because:

[Your Answer Here]

What proof do they have of them rejecting the deal? They made no effort to contact me, and they contacted my advisor in January 2016, after I filed a complaint. The deadline for the signing was December **, 2015. In October 2015, on call with my attorney, we were informed that this deal can be done [redacted].

In order for the Revdex.com to appropriately process your response, you MUST answer the question above.

Sincerely,