Mortgage Center, LLC

[redacted] P [redacted] Date Printed: 2/27/ [redacted] **Orange, CT RE: Response to Revdex.com Complaint [redacted] [redacted] – Unsolicited calls Dear Mr [redacted] : Please accept this correspondence as Mortgage Center’s response to your complaint to the Revdex.com in reference to receiving unsolicited calls Mortgage Center LLC, of Southfield, MI, NMLS# [redacted] , received a Revdex.com Complaint via email filed on 2/23/Upon review, it appears the Revdex.com has sent this complaint to Mortgage Center LLC in errorWe have reviewed our phone records back to December 1st, and we have not placed any calls to the two phone numbers listed in the report If further assistance is needed regarding this matter please contact Mortgage Center at ###-###-#### Sincerely, Response Center Mortgage Center LLC

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 why I am rejecting this response appear below:I am certain that on at least one occasion, possibly more, I told Ms [redacted] that it was a multi unit and that I would be converting one unit back into the main part of the house and leaving one unit separateWhen I spoke to Ms [redacted] on 10/she informed me that the terms of the loan agreement would have to change to 15% down instead of 5% because according to her notes, I had in fact told Mortgage Center that it was a mulit unit but they were under the understanding that I would be converting it back to a single family homeI again told her that she was correct in that it was a multi unit but that I had no plans to convert all units back into and I never said I didMy plan was always to keep one unit separate to accommodate my aging and ailing parents when the need arose potentially in the next few yearsMs [redacted] argued with me at that point telling me that the her notes show that it was a multi unit being converted into a single unit and said that the our previous calls had been recordedI strongly encouraged her to go back and listen to them because I was very confident that I never said I was going to convert to a single unitI then asked why, after over a month of working with her was this now coming up and she said that it must have been over lookedClearly from what Ms [redacted] told me on the phone on 10/and according to the notes that she was referencing, mortgage center did in fact have knowledge that it was a multi unit for some time before the appraisalSo their claim that the reason for the all delays was because I failed to tell them is patently falseI again encourage the people at Mortgage Center to listen to the recordings of the conversations because this is a simple way to resolve the matter once and for allNot only will they be able to confirm that I told them early on that it was a multi unit, they will also be able to confirm the fact that Ms [redacted] confirmed this knowledge as being reflected in her notesThe reason for the delay is obviously a lack of proper communication but the error was among their employees, not on my partFurthermore, the response to to my complaint that I continue working with Mr [redacted] to finalize this mortgage deal has been made impossible by themIn a matter of a few days I went from being under the impression I would only need to put 5% down to then being told on the 16th by Ms [redacted] that I would need to put 15% down, which I agreed to just to get the deal moving alongI was then told on 10/by Mr [redacted] that I would need to put 20% down which was quite shocking to me but I again agreed because I was a little over a week away from closing and had no way to secure another source of lendingI was then told by Mr [redacted] that if I had not had the money in my account for days prior that they could not complete the dealI had not had the money in the account for days so moving forward was out of the questionAgain, in a desperate attempt to not have the sale of this home fall through, I asked him if there was anything at all I could do to make this happenIt was on 10/that Mr [redacted] told me I needed to either put 20% plus months worth of payments plus the amount needed to make repairs into an escrow account or put 25% downAt this point the requirements from Mortgage Center for me to come up with close to $30,down (on an $80,sale) up from the original requirement of around $12,, in a matter of days was out of the questionI find it hard to believe that this is the first multi unit home Mortgage Center has ever financed and I find it even harder to believe that a company who overlooked pertinent information, and then went from requiring 5% to 15% to 20% to 25% down in literally a matter of a few days could still blame me for this abysmal lack of customer service and due diligenceI maintain that the error was entirely theirs Regards, [redacted] ***

After investigating the complaint, we found that the member is correct and the PMI payments were not cancelledWe have refunded the correct amount of the escrow account to the memberWe have spoken to the member and they are satisfied with the refundThank you

Ms [redacted] , I apologize that you are having difficulty reaching our officeI understand that our VP of Servicing, [redacted] ***, has reached out to you and will be working on your case, and you are comfortable that your account will handled going forward I understand that your loan will be reviewed for any relief measures that we can extend, and that you are reaching out to your 401K administrator Please keep my contact information in case you feel I can be of assistance going forward [redacted] Vice President of Quality Assurance Mortgage Center ###-###-####

Revdex.com:
I have
reviewed the response made by the business in reference to complaint ID 12652873, and find that this resolution would be satisfactory to me. The VP of the loan dept contacted me personally, I appreciate his response to this matterWe are awaiting a check for the refund of the PMI payments. Once we receive the check, I will consider this complaint resolved
Regards,
*** ***

Mr***,
I have reviewed you loan application it would appear that the confusion over the type of property you intend to purchase is the root cause for the delays in processing your loanWhen you initially spoke with Ms***, and again when you spoke with Ms***, you indicated that
this property was a single family residence, stick builtIt was only after the appraisal process that Mortgage Center was made aware of the fact that this home had been altered to include rentable units, making it a unit buildingThe programs and rules for lending on multiple units homes are far different than they are for a single family home
I understand that you have been in contact with our Lending Manager, *** ***, and that we are still working on getting an approval of you applicationI would encourage you to continue working with him
If there is anything I can do to help, please let me know
*** ***
Vice President of Quality Assurance
Mortgage Center ###-###-####

[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it
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,
*** ***

Mr***,I have reconsidered your request for a refund of your Application Deposit and I have reached the same conclusionThe appraisal of your property was done is good faith, and that you were adequately disclosed that the transaction was approved tentatively, and further information would be gathered to support the facts of the loanI would direct you to the following documents that were provided to you at application:General Disclosures to Mortgage Loan ApplicantsBorrowers Bill of RightsApplication Deposit DisclosureAppraisal NoticeI regret to inform you that we cannot refund the Application Deposit based on the low appraised value of your homeIt is unfortunate that the property did not appraise for the expected value, but the funds were used for real expenses and were not retained by Mortgage CenterTo show that Mortgage Center has acted in good faith, I would like to offer to split the cost of the appraisal and offer to pay $toward the cost of the appraisalIf you like further information, or if you wish to reconsider the withdrawal of your application, please reach out to me directly.Sincerely, *** ***VP of Quality AssuranceMortgage Center ###-###-####

[redacted] P....

[redacted]                                   ...⇄ Date Printed: 2/27/2015
[redacted]Orange, CT 06477                                     �...⇄
RE: Response to Revdex.com Complaint [redacted]
       [redacted] – Unsolicited calls
 
Dear Mr. [redacted]:
 
Please accept this correspondence as Mortgage Center’s response to your complaint to the Revdex.com in reference to receiving unsolicited calls.
Mortgage Center LLC, of Southfield, MI, NMLS#[redacted], received a Revdex.com Complaint via email filed on 2/23/2015. Upon review, it appears the Revdex.com has sent this complaint to Mortgage Center LLC in error. We have reviewed our phone records back to December 1st, 2014 and we have not placed any calls to the two phone numbers listed in the report.
If further assistance is needed regarding this matter please contact Mortgage Center at ###-###-####.
 
 
Sincerely,
Response Center
Mortgage Center LLC

Mr. [redacted],
I have reviewed your application and determined that the process was followed properly. During the loan interview, you were asked to provide an approximate value for your home, which you estimated to be $96,500.00. Using this value to calculate the Loan To Value ratio of 86.53%,...

making you eligible for our CUE 90 No MI 30 year loan product. You were given all appropriate disclosures and decided to proceed with the application. As part of the application process, we are required to order a tri-merge credit report and have the property value verified by an independent residential property appraiser. These two services are billed to us regardless if the loan closes, and cost $20.00 and $450.00 respectively.
When the appraisal was received by Mortgage Center, the property value came in lower than the estimate provide, and at $90,000.00 the LTV rose to 92.78, above the maximum allowed LVT for the program of 90%. Mortgage Center followed the appraisal dispute process with the appraisal company, and was unsuccessful in providing additional comparable properties to support a higher value for you home. Without a loan program that allows a LTV higher than 90%,  the only way we can make the refinance work for you would be to have you bring approximately $2500.00 to the closing or for you to accept a PMI premium on the loan. You chose not to accept either offer and withdrew the loan.
I regret to inform you that we cannot refund the Application Deposit based on the low appraised value of your home. It is unfortunate that the property did not appraise for the expected value, but the funds were used for real expenses and were not retained by Mortgage Center.
If you like further information, or if you wish to reconsider the withdrawal of your application, please reach out to me directly.
Sincerely,
[redacted]
VP of Quality Assurance
Mortgage Center  ###-###-#### s 9485

Ms. [redacted],
I apologize that you are having difficulty reaching our office. I understand that our VP of Servicing, [redacted], has reached out to you and will be working on your case, and you are comfortable that your account will handled going forward.
I understand that your loan will be...

reviewed for any relief measures that we can extend, and that you are reaching out to your 401K administrator.
Please keep my contact information in case you feel I can be of assistance going forward.
[redacted]
Vice President of Quality Assurance
Mortgage Center  ###-###-####

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 why I am rejecting this response appear below:I am certain that on at least one occasion, possibly more, I told Ms. [redacted] that it was a multi unit and that I would be converting one unit back into the main part of the house and leaving one unit separate. When I spoke to Ms. [redacted] on 10/16 she informed me that the terms of the loan agreement would have to change to 15% down instead of 5% because according to her notes, I had in fact told Mortgage Center that it was a mulit unit but they were under the understanding that I would be converting it back to a single family home. I again told her that she was correct in that  it was a multi unit but that I had no plans to convert all 3 units back into 1 and I never said I did. My plan was always to keep one unit separate to accommodate my aging and ailing parents when the need arose potentially in the next few years. Ms. [redacted] argued with me at that point telling me that the her notes show that it was a multi unit being converted into a single unit and said that the our previous calls had been recorded. I strongly encouraged her to go back and listen to them because I was very confident that I never said I was going to convert to a single unit. I then asked why, after over a month of working with her was this now coming up and she said that it must have been over looked. Clearly from what Ms. [redacted] told me on the phone on 10/16 and according to the notes that she was referencing, mortgage center did in fact have knowledge that it was a multi unit for some time before the appraisal. So their claim that the reason for the all delays was because I failed to tell them is patently false. I again encourage the people at Mortgage Center to listen to the recordings of the conversations because this is a simple way to resolve the matter once and for all. Not only will they be able to confirm that I told them early on that it was a multi unit, they will also be able to confirm the fact that Ms. [redacted] confirmed this knowledge as being reflected in her notes. The reason for the delay is obviously a lack of proper communication but the error was among their employees, not on my part. Furthermore, the response to to my complaint that I continue working with Mr. [redacted] to finalize this mortgage deal has been made impossible by them. In a matter of a few days I went from being under the impression I would only need to put 5% down to then being told on the 16th by Ms. [redacted] that I would need to put 15% down, which I agreed to just to get the deal moving along. I was then told on 10/19 by Mr. [redacted] that I would need to put 20% down which was quite shocking to me but I again agreed because I was a little over a week away from closing and had no way to secure another source of lending. I was then told by Mr. [redacted] that if I had not had the money in my account for 60 days prior that they could not complete the deal. I had not had the money in the account for 60 days so moving forward was out of the question. Again, in a desperate attempt to not have the sale of this home fall through, I asked him if there was anything at all I could do to make this happen. It was on 10/21 that Mr. [redacted] told me I needed to either put 20% plus 6 months worth of payments plus the amount needed to make repairs into an escrow account or put 25% down. At this point the requirements from Mortgage Center for me to come up with close to $30,000 down (on an $80,000 sale) up from the original requirement of around $12,000 , in a matter of days was out of the question. I find it hard to believe that this is the first multi unit home Mortgage Center has ever financed and I find it even harder to believe that a company who overlooked pertinent information, and then went from requiring 5% to 15% to 20% to 25% down in literally a matter of a few days could still blame me for this abysmal lack of customer service and due diligence. I maintain that the error was entirely theirs. 
Regards,
[redacted]

After investigating the complaint, we found that the member is correct and the PMI payments were not cancelled. We have refunded the correct amount of the escrow account to the member. We have spoken to the member and they are satisfied with the refund. Thank you.