InterContinental Capital Group, Inc.

Prospective mortgage borrowers should beware of ICG at [redacted]) and particularly the Branch Manager, Mr. Yves D. I was the listing agent for a home, and the prospective buyer (not my client) applied for a mortgage through Mr. D. After almost 5 months the deal fell because the buyer's mortgage application was denied. During that time, Mr. D. repeatedly made assurances such as there were only a couple of details to be cleared up, it would just be a day or two before he'd have a good idea of when we'd have a clear to close, loan is nearly finished in underwriting and hope to close next week, loan should go to the closing department on Monday, the buyer has done everything we've asked of him, and "we are going to close this loan". There were unusual delays right from the beginning when the appraisal wasn't ordered in a timely fashion. I am not sure if Mr. D. was deliberately misleading or if he was simply ignorant of the buyer's qualifications for the loan. In either event, the buyer lost the house, the seller lost almost five months of marketing and a strong back up offer. This was an inexcusable performance.

Review: I believe it was on Thursday, July [redacted], that I received a phone call from someone from Intercontinental Capital Group. He presented a case, for his mortgage company, which I feel was very misleading, and filled with what I consider, only partial truths about his company. I explained to him that our current mortgage is almost $200,000 underwater, and our credit is not that good. He told me it didn't matter that we were that much below equity, and he could get mortgages for people whose credit was even in the 500's, and who had claimed bankruptcy. He was very convincing, and even though I was skeptical, I gave him our personal information, because after speaking with him, I firmly believed he could help us refinance. He said he would definitely call me back that day, but he never did. The next day, I called him at the number he gave me, but he was not there. I had to make several calls, to find someone to speak with, and they said someone would call me back.

I did get to speak with someone, who said I could their company could not help me, because we are too underwater in our mortgage. He also said that the person who called me, was within his right, to give me the information he did. I totally understand since I gave my personal information, they had a right to run my credit, but I feel I gave my consent under false pre tenses. I asked them to remove the credit inquiry from my credit report, but they said they can not do it. However, I know from past experiences, they can do it, if they wanted to. I feel in this case, it should be removed, because if they were more honest with me, in the first place, I never would have given them my personal information.Desired Settlement: I want the inquiry removed from my credit report, and I want this company to stop giving other people the misleading information, I was given. I feel they are taking advantage, of people, such as me, who are in a bad situation with their Mortgage. I do not feel their actions are appropriate for an A+ Better Business Rating. They need to be more direct and honest with people before getting their personal information.

Business

Response:

The purpose of this response is to alert the Revdex.com that ICG is in the process of reviewing this complaint and has made an attempt to contact the consumer regarding this issue. Our initial review indicates that [redacted] did indeed make an inquiry and request information regarding her ability to get a mortgage with ICG. Once this information was reviewed, and part of the review is the credit profile, ICG made a decision that a loan was not viable. I understand that [redacted] would like the inquiry removed from her credit but unfortunately an inquiry was made in her attempt to obtain financing, and therefore cannot be removed. [redacted] wishes that she would have known she would not get financing before we pulled her credit but this is a catch 22 as a lending decision could not be made until the credit was pulled.

As such, it appears as though we cannot quell the issue [redacted] has however, we will continue to try and contact her in an attempt to resolve her issue as best we can.

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:

What they are saying is a total lie. They contacted me, I did not contact them. I would have no reason to contact them, since I have been told over and over, by many, many mortgage companies, that it is not possible to refinance my loan. I am much, too much below equity, and I do not qualify for any government programs, such as [redacted] or [redacted]. They are lying just to cover themselves, and I am not giving into them. Their tactics, are despicable. I stand by my previous comments, that their actions, are totally inappropriate for a A+ rated Better Business Accredited Business. Now I feel more than ever, since they have have resorted to lying, that they need to suffer consequences for their actions. As I also stated previously, I do not want them to do, to anyone else, did to me. I believe that is exactly what they will do, if I close this case, and I am refusing to do that.

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

Sincerely,

Business

Response:

[redacted],Just yesterday our Credit Service Provider sent the attached letter in response to our followup inquiry. I sincerely believe that within 2 weeks it should be removed. Please see attached and please follow up with us to let us know if it was resolved. I am sorry this has been such a pain for both of us and I truly hope this resolves the matter. Wishing you a Happy Holiday Season.Sincerely,[redacted]

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.

I will keep an eye on our credit reports within the time frame you mentioned, and hopefully this complaint will be resolved once and for all.

Review: I was contacted by this company on Tuesday June **, 2013 by a [redacted] regarding working on a refinance. We talked regarding rates, what they have available etc. I was then sent over to a loan officer where we talked about what my parameters were regarding a refinance. I was told someone would get back to me that same day. I never heard back from anyone. ON June **, 2013 I called the number that [redacted] gave me as his direct line ###-###-#### and he answered. When I proceeded to tell him who I was he hung up. I called back 5 times and each time I was hung up on. This leads me to believe that this company is not a reputable company and is a scam. My concern is that they took info from me that could put my identity in jeopardy. I did call the main office number and dialed the extension by doing a search by last name on their telephone system and [redacted] is listed as an employee.Desired Settlement: Assurances that my identity has not been compromised by this company and this employee. Something in writing from them regarding this practice and how they plan to handle correcting this.

Business

Response:

Dear [redacted],

After being turned down by several mortgage companies due to a recent chapter 13, I reached out to Ronnie at ICG and he was able to secure and close my FHA loan with a reasonable amount of time. The process did require a manual underwriting which ICG handle perfectly. l recommend them and I plan on using them in the future for all my mortgage needs.

Review: I received a letter in the mail that had [redacted] written all over it and how I was qualified for a reduction on my mortgage insurance premium. I called this company, spoke to a representative. I asked about the reduction on MIP and they took my information so they can run my credit report to see if I qualified and all that and told me someone would call me back after they run my credit report to check if I qualified. Someone called me back but for a refinance. I did not want a refinance. The letter they sent clearly stated that it was for MIP reduction.

This is a private company who has no affiliation with [redacted]. I called [redacted] myself to ask if I was qualified for the MIP reduction and they said I was not. Companies like this should not be able to advertise falsely. I took a hit on my credit for nothing. That's just not fair.Desired Settlement: I want them to take out the hit on my credit due to their false claims. It is not a fair practice that they advertise falsely to get the customers to call them.

Business

Response:

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