MLD Mortgage Inc.

Review: I was pre approved for a home loan and invested money in a deposit building inspections and appraisals. They company kept asking for more info everyday and same info over and over. I had to have 4 contract extensions. In the end I did not get the loan and. Because of bad advice from my loan officer my credit was hit more during the process that I could not get a loan any where else.Desired Settlement: I would like a refund of money spent on appraisal and building inspection since I had the preapproval through the company.

Business

Response:

Response:The customer that had a credit score of 560. Do to the many effects of The [redacted], her credit score was increased to 619 at submission of her home purchase of $76,000. Her damaged credit took longer than usual to clean up disputes and verify her recent bankruptcy and foreclosure information. The home she was to purchase was on waterfront property and extra verifications on the appraisal was needed. The customers realtor was constantly pushing to close this home with unrealistic time frames. The customer without a clear to close, ended her lease with her current landlord and put more pressure on The [redacted] to close her loan. At the end of the process, her gift letter was presented to Underwriting and due to the relationship from the giftee, was not sufficient for FHA guidelines. Her gift letter stated that her boyfriend was "gifting" her the money for her home purchase, when in fact her boyfriend was actually her Finance. If her letter was written correctly, stating that her Finance was "gifting" her the money, then this would have indeed meet FHA guidelines