Mortgage Lenders of America, LLC

Ms [redacted] ,We have completed an internal review of your file and want you to know that we do take all customer concerns very seriously.We will be reversing the credit report pullAfter reviewing the original request you made to the loan originator, he should have followed your request to not have your credit pulled? ? I do apologize for any inconvenience that this caused

Mortgage Lenders of America's goal is to provide excellent customer service to all loan applicants We regret that Ms [redacted] was not satisfied with the solutions offered to her by the Mortgage Loan Originator Federal Law and FHA regulations do not allow multiple appraisals to be done on the type of loan transaction Ms [redacted] applied for Further, the appraisal was transferred to the new lender; therefore, she will be getting the benefit of the appraisal she has paid for Therefore, Mortgage Lenders of America will not refund the appraisal cost Mortgage Lenders of America ranks very high in customer satisfaction on Lending Tree MLOA originates loans in states and have been operating for over years FHA, VA, USDA and Conventional purchase money loans are our focus, delivered through the internet We appreciate the opportunity to respond to Ms [redacted] 's comments and sincerely wish she would have allowed us to complete the loan process

I am rejecting this response because:As you claim that I was aware of the items required to close the loan is not trueIt was NEVER discussed with me the three lines of open credit where neededNot when I first got pre-approved, not through out the entire process Not before the appraisal was done This is a big oversight that Mr [redacted] missed and is his mistakeI gave him everything he asked for, and he should of known this rule before telling me I was all set You will not find in one communication where he told me this very important detail Regards, [redacted]

February 29, Revdex.com Mr [redacted] Re:? Complaint ID [redacted] Dear Mr [redacted] : Thank you for allowing us to address your complaint of February 24, 2016.? First, we apologize if there was misunderstanding related to the mortgage process and services that would be provided.? However, a review of the Loan Estimate given to you on January 17, clearly lists an estimate for the cost for “Title ?" Lenders Title Insurance”.? You voiced concern about not receiving a new Owners Title Policy as part of this transaction, but you are still protected under the original owners policy obtained when you purchased the property.? Basically when you purchased the property, a search of records was conducted to verify that you would be owner of clear title.? Anything occurring or discovered after you received your owners title policy would be covered by your insurance, whether you refinanced or not, until such time as you no longer hold title to the property We have contacted [redacted] ***, the settlement agent in your transaction regarding the undisclosed $wire fee.? Since they did not make us or you aware of the fee in advance, they have agreed to refund the charge.? So, if you chose to have funds wired, expect to receive a $refund check directly from [redacted] ***? ? ? ? We trust your concerns have been adequately addressed.? Thank you again for the opportunity to respond

Response – We received the application for a home loan from the buyers Due to unforeseen circumstances there were some challenges with the property the borrowers selected Once those issues were addressed, there were other challenges in getting the loan completed; however, those issues cannot be discussed due to privacy laws The Loan Officer was in contact with the borrowers and the Loan Officer's supervisor was involved in the situation, also While the loan did not close on the original contract date, it did close on the alternate date that was agreed to by the borrowers It is the goal of all lenders at Mortgage Lenders of America, LLC to work with our Veteran borrowers to ensure a they receive the respect and service they have earned It is unfortunate the closing was delayed; however, the borrowers were able to close on their home and have indicated to the personnel of MLOA they are happy in their new home

Nothing further can be stated without going into the confidential details of the loan file It is very unfortunate this situation occurred Please accept the apologies of Mortgage Lenders of America for your inconvenience.Shelley [redacted] , VP of Compliance

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the responseIf no reason is received your complaint will be closed Administratively Resolved] Complaint: [redacted] I am rejecting this response because: Sorry is nice if I would think you meant it, which I don’tIt use to be that a mans word would even stand up in court as a binding contractNow a days a mans word is worthless especially in your businessYou don’t care about how your customers are treated all you care about is your name and the moneyIn my book I figure you’re going to keep your money so I can only think I should keep my opinion and share it with others that might potentially consider you’re name for doing business that name is MUDI’ll let people know how I was treated and not to trust your businessI hope it was worth all the negative publicity you will get Regards, [redacted]

[redacted] , An internal investigation has been completed. The comments made by the individual involved have been addressed and a formal corrective action has been put in place. I do apologize for the actions of this individual.

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the responseIf no reason is received your complaint will be closed Administratively Resolved]
Complaint: ***
I am rejecting this response because: I don’t agree that Mortgage Lenders need to have title insurance when I already have itYou’re nickel and diming your customer needlesslyEvery time I would ask questions of my representative he would not answer them.Secondly I did not choose the expedited way because it did cost more when it was suppose to be includedAgain you are nickel and diming your customersYour representative lied to me and it seems you people don’t care about your word in a business deal and what it cost your customers in time and money.These are serious items that should lower your rating with the Revdex.com and customer satisfaction rating, you probably lied about those too
Regards,
*** ***

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the responseIf no reason is received your complaint will be closed Administratively Resolved]
Complaint: ***
I am rejecting this response because: Sorry is nice if I would think you meant it, which I don’tIt use to be that a mans word would even stand up in court as a binding contractNow a days a mans word is worthless especially in your businessYou don’t care about how your customers are treated all you care about is your name and the moneyIn my book I figure you’re going to keep your money so I can only think I should keep my opinion and share it with others that might potentially consider you’re name for doing business that name is MUDI’ll let people know how I was treated and not to trust your businessI hope it was worth all the negative publicity you will get
Regards,
*** ***

I (Mortgage Loan Originator *** ***) told (the
applicant) that mobile homes are prevalent in his area and I can't do those
loans. He knows we were told to proceed
with ordering the appraisal, that we didn't need the inspections he paid for the
purpose of our loan. He is just
still
frustrated because he doesn't have final loan approval
I (Mortgage Loan Originator *** ***) asked both the
buyer and the buyer's real estate agent whether it was a true modular or a
mobile home. I talked to the agent prior
to ordering the appraisal to verify it was a modular home, which he stated it
was. I called him to make sure we should
order the appraisal. The burden lies
with the buyer's agent.
When I called (the applicant) to tell him the bad news-
that it was a mobile home, he stated it wasn't my fault. I would have had no way to know it was a
mobile home. (The applicant) told me his
wife is the one that was upset and blew up before talking to (the applicant) and
filed both complaints on *** and the Revdex.com.
She didn't know what had happened prior to ordering the appraisal and
who really was to blame.
Now, I think he's still upset because they don't have
final approval on their loan with the other bank, so he's still upset about the
expenditure
Mortgage Lenders of America received the following
e-mail from the applicant:
To whom it may concern:
This email is in response to *** ***'s request for
clarification and explanation of our claim against Mortgage Lenders of America
with the Revdex.com, and should, in NO WAY, be considered a
retraction of the original claimThat should be the burden of the compliance
departmentThe compliance department should also be handling matters on their
own time and with their own resources, instead of expecting that the lender
agent or the potential customer handles their jobThis is one of the many
things I do not appreciate about MLOAYour organization doesn't accept
responsibility for their shortcomings
While I do not consider our experience with MLOA to be a
pleasant one, I do agree that the breakdown of communication that occurred
during our process of trying to secure financing happened on many levels,
including, but not limited to your organization
Mr*** did everything in his power to make the
process a smooth and pleasant one, and for no reason of his own, our request
was denied by MLOA
The request was denied simply because the property in
question was not modular, but rather manufactured, and while we were under the
impression that this was no issue when trying to secure financing; however
apparently, it is an issue when it comes to your company policy
I do believe that there were many misunderstandings that
took place between the buyer's agent, the lender, and myself and my wife
Because of these misunderstandings, I accrued many
seemingly unneccesary expenses during the process, and therefore was not
satisfied with the process overall
The bottom line is this:
There was some knowledge of the possibility of the
property not being securable by MLOA, and when there was ANY possibility of the
transaction completing, there should not have been any more services ordered
that would impact the finances of the borrower
I personally like ***; I think he did his best, given
the information provided, but because of processes beyond his control, I had to
spend money out of my pocket to get services paid for that should have never
been ordered in the first place
In this particular case, after the house was deemed
non-financable, your company should have ponied up and either paid for the appraisal,
or ensured that the appraisal that I was burdened to pay for, could have been
transferred to my name and any other party without further cost to myself
Regards,
*** ***
RESPONSE FROM MORTGAGE LENDERS OF AMERICA:
It is always unfortunate when an applicant is not able to
purchase a home they have selected. There
are several issues that require clarification:
1)
There are
few lenders in the United States that will make a long term mortgage loan on a
mobile home. *** is a seasoned Loan
Originator that would not allow a borrower to knowingly pay money for an
appraisal on a mobile home. It appears
these questions were asked of the buyer’s real estate agent, with incorrect
responses. Both the applicant and the
Loan Originator relied on those answers.
2)
It is not the practice of Mortgage Lenders of
America to reimburse applicants for expenses associated with a loan application
when the loan is not consummated.
3)
Mortgage Lenders of America’s Compliance
Department is responsible for responding to all complaints; therefore this Revdex.com
inquiry was channeled through this department.
Mortgage Lenders of America is a company that
does business via the internet. The loan
originators are licensed in states. MLOA
believes it is our business purpose to help people obtain the American dream of
homeownership. We originate loans that
are backed by FHA, VA and USDA. We also
originate conventional home loans. Even
though we would like to approve every loan applicant; that is not
possible. Once again, we are sorry for
any misunderstanding

We are in the process of researching this complaint as the Loan Officer is no longer with the company. We will reach out to the consumer to try and resolve his compliant Thanks, *** *** ***

In response to Mr***'s complaint, Mortgage Lenders of America, LLC responds:Due to the private nature of communication between the Mortgage Loan Originator and Mr***, the full details of the mortgage loan application process cannot be stated in this complaint After
reviewing e-mails and interviewing the Mortgage Originator, it appears that Mr*** allowed Mortgage Lenders of America to order the appraisal, and signed the credit card authorization form used to pay for the appraisal.Mortgage Lenders of America has no control over the appraisal process The process of choosing an appraiser is automated and handled by a third party so that the appraiser remains independent and is not able to be influenced in his decision on value After the appraisal was received by Mortgage Lenders of America, the value of the property was not adequate to include the closing costs into the loan amount, as anticipated Once again, Mortgage Lenders of America has no control over the appraised value While we understand Mr***'s disappointment, the entire sum of $went directly to pay the appraiser for his services Our Mortgage Loan Originator worked very hard trying to make this loan Since the loan did not close, he received no compensation for his time and effort Mortgage Lenders of America will not refund the appraisal fee to Mr*** It is always disappointing when a loan is not closed From the documentation in our file, it is apparent that Mr*** was aware of the items that needed to be done in order to close this loan Mortgage Lenders of America enjoys a good reputation of servicing first-time home buyers Our loan originators have deep knowledge of government loan programs, i.eFHA, VA, Rural Housingand are dedicated to help place these home buyers in their first homes

We have reviewed the above file and are responding to the complaintWe do understand that the loan originator included the realtor involved with the real estate transaction in a chain of emailsThe loan originator had been including the realtor in previous emails to provide updates of the status
of the loan process During a chain of email exchanges on December 12, 2016, the borrower had emailed the loan originator sharing the realtors concern about the timing about a credit reporting issueIn answering the question, the loan originator included the realtor to provide the answer to both the borrower and the realtor at the same timeThe borrower stated in the complaint, that there were some financial information that was in the email chainThe information was not any specific financial identifying informationIt was three specific underwriting requests for additional information needed to continue underwriting the fileThese were from the underwriter that asked for clarification of these three itemsOne was requesting proof needed for an income item, one was requesting proof of a credit report item, and the last one was requesting proof of a letter from an attorney regarding a deposit that was made to their bankThe three conditions did not include any personally identifying financial information, rather statements about information that was needed to underwrite the file During subsequent email exchanges on December 13th and December 14th, the borrower requested changes to rework the loan with only one borrowerThe loan originator did inform the borrower that the closing date would need to be moved due to underwriting needing to review the file as one borrower transaction and the addition of income and asset documents requiredThe loan originator manager did speak with the borrower on December 14th to discuss solutions about additional information that was needed, after this phone call the borrower emailed the loan originator that they were withdrawing their file We do not feel that we are responsible for any potential lost money or that we released any personally identifying financial information

Mr***, We have completed an internal review of your file and want you to know that we do take all customer concerns very seriouslyThe loan originator that ran the credit report is no longer employed with usThere were records of emails between you and the loan originatorSince we were not
able to determine the authorization, we are reversing the credit report run and it will be removed from your credit reportI do apologize for any inconvenience that this caused.***

We have reviewed the above file and are responding to the complaintWe do understand that the loan originator included the realtor involved with the real estate transaction in a chain of emailsThe loan originator had been including the realtor in previous emails to provide updates of the status
of the loan processDuring a chain of email exchanges on December 12, 2016, the borrower had emailed the loan originator sharing the realtors concern about the timing about a credit reporting issueIn answering the question, the loan originator included the realtor to provide the answer to both the borrower and the realtor at the same timeThe borrower stated in the complaint, that there were some financial information that was in the email chainThe information was not any specific financial identifying informationIt was three specific underwriting requests for additional information needed to continue underwriting the fileThese were from the underwriter that asked for clarification of these three itemsOne was requesting proof needed for an income item, one was requesting proof of a credit report item, and the last one was requesting proof of a letter from an attorney regarding a deposit that was made to their bankThe three conditions did not include any personally identifying financial information, rather statements about information that was needed to underwrite the file During subsequent email exchanges on December 13th and December 14th, the borrower requested changes to rework the loan with only one borrowerThe loan originator did inform the borrower that the closing date would need to be moved due to underwriting needing to review the file as one borrower transaction and the addition of income and asset documents requiredThe loan originator manager did speak with the borrower on December 14th to discuss solutions about additional information that was needed, after this phone call the borrower emailed the loan originator that they were withdrawing their fileWe do not feel that we are responsible for any potential lost money or that we released any personally identifying financial information

Ms***,We have completed an internal review of your file and want you to know that we do take all customer concerns very seriously.We will be reversing the credit report pullAfter reviewing the original request you made to the loan originator, he should have followed your request to not have
your credit pulled I do apologize for any inconvenience that this caused

[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:
Hi I do have emails saying if this is a hard inquiry not to pull my reportI had sent the representative a screenshot, when they pulled my report my score dropped pointsAfter being in contact with the representative I feel they had no knowledge that this was a hard credit hit
Regards,
*** ***

I am rejecting this response because:
It is inaccurate and makes this issue sound like we had were at fault for the loan not closing on time.There were NO ISSUES with the property We had questions about whether there would be issues If the appraiser had been given the correct paperwork in a timely fashion, then those questions would have been resolved.As for the other issues that cannot be discussed due to "privacy laws," there were no other issues Yes, we did have to provide additional documentation, however our loan officer was in the know of the situation ahead of time The reality is that MLOA was behind and took longer than anticipated We only agreed upon the final closing date because the one day earlier that was offered was not guaranteed and we did not want to take the time off of work if we were not sure of the outcome.Yes, our mortgage lender was in contact with us throughout, thankfully However, we are the ones who initiated the contact with his supervisor due to our frustrations at not closing on timeAs consumers we are aware that he is not able to speed things up without help from his superiorsHis supervisors, however, did not make us feel as if they were concerned about our situation at all.Overall, we are accepting in the outcomeMLOA did attempt to make amends However, we will not accept an inaccurate response to our complaint.
Regards,
*** ***

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the responseIf no reason is received your complaint will be closed Administratively Resolved]
Complaint: ***
I am rejecting this response because: I don’t agree that Mortgage Lenders need to have title insurance when I already have itYou’re nickel and diming your customer needlesslyEvery time I would ask questions of my representative he would not answer them.Secondly I did not choose the expedited way because it did cost more when it was suppose to be includedAgain you are nickel and diming your customersYour representative lied to me and it seems you people don’t care about your word in a business deal and what it cost your customers in time and money.These are serious items that should lower your rating with the Revdex.com and customer satisfaction rating, you probably lied about those too
Regards,
*** ***