Oceans Capital Network Inc

The settlement that I desire is a refund of all my costs and fees incurred by pursuing this loan with this mortgage broker based on their misrepresentationThe costs that I know of to date are the home appraisal fee

Dear Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that the explanation provided by the business does not resolve my complaint. For your reference, details of the offer I reviewed appear below
The business' reply does not contain a truthful or accurate rendition of what transpired in my loan application I was verbally assured by the loan officer Lorie *** on April that my rate was percent interest with no lender fee and 3rd party fees only that would not exceed $ I told Ms*** that I would not apply for a re-finance unless I knew the rate and the terms and agreed to them She assured me repeatedly that the terms were what I stated above and that there were no lender fees I told her that I would not pay lender fees.The response by this business to the Revdex.com is that the market changed, the rate fluctuated and this is outside of their control As I wrote earlier in my complaint, it was on April - weeks after I applied for the loan -- that Ms*** suddenly informed me that she now needed to charge a lender fee of $- not that the rate changed I was given a unequivocal offer of the terms of the re-finance on April which included no lender fees and an interest rate of percent which lead me to believe that my rate and the terms were locked We agreed on the terms and only on this basis did I proceed with the re-finance. After I incurred an appraisal fee of almost $dollars, the loan officer then changed the terms of the re-finance This is the very definition of a bait and switch I want my appraisal fee refunded; my personal and loan documents destroyed, and for this company to understand that this is not acceptable and for their rating to be lowered by teh Revdex.com
Regards,
*** *** Attorney At Law

We've attached a copy of your appraisal report

Ms***,
We are very sorry to hear you have decided to cancel your
loan processAs you are aware, our rate lock policy requires an appraisal be conducted at your expense prior to locking your interest rate. I've attached copies of the rate lock and appraisal disclosures. Please keep in mind that mortgage rates, a lot like the stock market, move continuouslyIt appears that you were originally Quoted 3.5% on a year fixed with Zero Origination Charges on April 2, 2015. Last week when your appraisal was received the market rate had increased to 3.625%. Any additional charges would be associated with buying the rate down to 3.500%. We try our very best to make our policies and procedures very transparent to maintain a high level of customer satisfactionAt the same time these policies allow the company to keep rates very competetiveWith that said, rates started to improve Friday afternoon and we are hopeful that they will improve early next weekIf you change your mind I'd suggest contacting your loan manager early Monday morning and see if she can get your loan re-submitted
If you have any further questions or concerns feel free to contact me directly*** ***
Operations Manager
***

I have reviewed this complaint and I feel there may be an error. I searched our entire database using the name and phone number and I have no matching records. All of our sales staff has direct dial numbers and the calls are placed out of a master customer database. Please provide the...

phone number that has been calling you so I can track down the source of the calls.

Dear Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that the explanation provided by the business does not resolve my complaint.  For your reference, details of the offer I reviewed appear below.The business' reply does not contain a truthful or accurate rendition of what transpired in my loan application.  
I was verbally assured by the loan officer Lorie [redacted] on April 1 that my rate was 3.5 percent interest with no lender fee and 3rd party fees only that would not exceed $2000.  I told Ms. [redacted] that I would not apply for a re-finance unless I knew the rate and the terms and agreed to them.  She assured me repeatedly that the terms were what I stated above and that there were no lender fees.  I told her that I would not pay lender fees.
The response by this business to the Revdex.com is that the market changed, the rate fluctuated and this is outside of their control.  As I wrote earlier in my complaint, it was on April 15 - 2 weeks after I applied for the loan -- that Ms. [redacted] suddenly informed me that she now needed to charge a lender fee of $998 - not that the rate changed.  I was given a unequivocal offer of the terms of the re-finance on April 1 which included no lender fees and an interest rate of 3.5 percent which lead me to believe that my rate and the terms were locked.  We agreed on the terms and only on this basis did I proceed with the re-finance. 
After I incurred an appraisal fee of almost $500 dollars, the loan officer then changed the terms of the re-finance.  This is the very definition of a bait and switch.  
I want my appraisal fee refunded; my personal and loan documents destroyed, and for this company to understand that this is not acceptable and for their rating to be lowered by teh Revdex.com.
Regards,
[redacted] 
Attorney At Law

Ms. [redacted],We are very sorry to hear you have decided to cancel your loan...

process. As you are aware, our rate lock policy requires an appraisal be conducted at your expense prior to locking your interest rate.  I've attached copies of the rate lock and appraisal disclosures.  Please keep in mind that mortgage rates, a lot like the stock market, move continuously. It appears that you were originally Quoted 3.5% on a 30 year fixed with Zero Origination Charges on April 2, 2015.  Last week when your appraisal was received the market rate had increased to 3.625%.  Any additional charges would be associated with buying the rate down to 3.500%.  We try our very best to make our policies and procedures very transparent to maintain a high level of customer satisfaction. At the same time these policies allow the company to keep rates very competetive. With that said, rates started to improve Friday afternoon and we are hopeful that they will improve early next week. If you change your mind I'd suggest contacting your loan manager early Monday morning and see if she can get your loan re-submitted.  If you have any further questions or concerns feel free to contact me directly.[redacted]Operations Manager[redacted]

Review: I entered into an agreement for the terms of my re-finance with loan manager Lorie [redacted] on April 1, 2015. On the basis of her representation of the terms which included no outside lender fees, I entered into the re-finance process with her. After spending hours on paperwork, spending 495 on an appraisal fee and sending her all my personal documents, she contacted me on April 14 and told me that there was a "smidge" difference in the terms which would now include a $1000 dollar lender fee. I told her that this was not our original agreement and refused the new sudden charge. Since then, I have not heard from her. I have written complaining of the misrepresentation and asked if she was planning to honor our agreed upon terms and have not received a response. So, I have now incurred a 495 charge on my charge card and provided all of my personal financial information to someone who engaged in a bait and switch tactic.Desired Settlement: I need a refund of the charge on my credit card for the home appraisal which is now useless to me. And I want my complaint posted to inform other consumers of the shoddy business practices of this company which advertises on bankrate.com.

Consumer

Response:

The settlement that I desire is a refund of all my costs and fees incurred by pursuing this loan with this mortgage broker based on their misrepresentation. The costs that I know of to date are the home appraisal fee.

Business

Response:

Ms. [redacted],We are very sorry to hear you have decided to cancel your loan process. As you are aware, our rate lock policy requires an appraisal be conducted at your expense prior to locking your interest rate. I've attached copies of the rate lock and appraisal disclosures. Please keep in mind that mortgage rates, a lot like the stock market, move continuously. It appears that you were originally Quoted 3.5% on a 30 year fixed with Zero Origination Charges on April 2, 2015. Last week when your appraisal was received the market rate had increased to 3.625%. Any additional charges would be associated with buying the rate down to 3.500%. We try our very best to make our policies and procedures very transparent to maintain a high level of customer satisfaction. At the same time these policies allow the company to keep rates very competetive. With that said, rates started to improve Friday afternoon and we are hopeful that they will improve early next week. If you change your mind I'd suggest contacting your loan manager early Monday morning and see if she can get your loan re-submitted. If you have any further questions or concerns feel free to contact me directly.[redacted]Operations Manager[redacted]

Consumer

Response:

Dear

I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that the explanation provided by the business does not resolve my complaint. For your reference, details of the offer I reviewed appear below.

The business' reply does not contain a truthful or accurate rendition of what transpired in my loan application. I was verbally assured by the loan officer Lorie [redacted] on April 1 that my rate was 3.5 percent interest with no lender fee and 3rd party fees only that would not exceed $2000. I told Ms. [redacted] that I would not apply for a re-finance unless I knew the rate and the terms and agreed to them. She assured me repeatedly that the terms were what I stated above and that there were no lender fees. I told her that I would not pay lender fees.

Review: This company continues to call my phone at all hours, and when I try to explain I am not interested, and to be removed from their call list, they simply hang up and call back.Desired Settlement: A simple apology and to have them stop contacting me.

Business

Response:

I have reviewed this complaint and I feel there may be an error. I searched our entire database using the name and phone number and I have no matching records. All of our sales staff has direct dial numbers and the calls are placed out of a master customer database. Please provide the phone number that has been calling you so I can track down the source of the calls.