Paramount Equity Mortgage

Review: I selected Paramount Equity as the mortgage broker to handle a simultaneous purchase and refinance. At first the mortgage specialist was very pleasant to work with and responsive. Confusion began when I was passed off to the loan officer. The loan officer was not updated on information that the mortgage specialist and myself had discussed, or on documentation that I had provided. So I would get requests for information that I had already provided. I was patient with this as I understand confusion occurs from time to time. However, my main issue is that the proceeds that I received after the settlement of the refinance was almost $800 short. When I emailed the mortgage specialist she came back with a reason for the shortage which sounded like an error on Paramount’s end. My response was that I expect to be paid according to the closing documents that were signed at settlement. I have made numbers attempts since that email to contact the mortgage specialist as well as her District Manager to discuss and they have been non-responsive.Desired Settlement: I expect to be paid the moneys as agreed to on the closing documents.

Business

Response:

Thank you for this information. We are looking into the file on our end and will attempt to contact the customer in regards to the requested refund.

Consumer

Response:

I am rejecting this response because:I do not feel the issue has been resolved.

Business

Response:

Our records indicate that the file has been review and title will be refunding the requested about of $787.00. The check will be cut directly to the borrower.

When I first was looking into this company, I looked at the rating they had on here as they were Revdex.com accredited. It read an A+ and I didn't look much more into it because if people had problems then it wouldn't be an A+ I thought. I worked with a very pushy sales person. His name was Brad Johnson. When we were talking in the beginning on the phone he was very aggressive saying to me that if he was able to get the pricing we were looking at would I email him stating it and giving him my word that I would work with his company. I felt very strange at this request because of how he was making me feel as multiple times he repeated the same wording. I felt like he was being emotionally abusive to try and get me to say yes. Finally I said that if he could get the % promised with all the closing cost added in to not be more than $[redacted] then I would go with his company. He came back to me saying that he had done the "shame walk" to the VP's office and that the VP did something that he hardly ever does. He said that he waived the fee for the appraisal and the cost was still coming out almost 300 over what we had agreed upon. In the paperwork I was reviewing it showed the appraisal fee of $495. When I called to question him about this he told me that he did not say that and he would have never said that! He said at first I was wrong and then later said that I had misunderstood once I repeated back the exact wording he had said to me in the prior conversation. If I questioned anything he got very sharp and talking me down as if he had no respect for women and felt they were not important. He promised in emails that he would not give us a quote, he would give us exactly what he could do. I was looking through the paperwork online and things on the uniform application did not at all match the same information on the loan estimate. When I called him he got quite upset and said that I was acting like this paperwork was set in stone. I let him know that I was quite aware that things fluctuate as they got the payoff amount and other numbers. I also saw that the taxes were said to be in escrow and when I questioned him about it he replied angrily that I was wrong and he made sure that it was not in escrow. I calmly referred him to the page where it clearly stated that YES it was in escrow. He said that it was a mistake but to go ahead and sign the papers as is and he would fix it after. I was not comfortable signing papers that were incorrect. He made me feel inadequate as a person and like I knew nothing about what was going on. I am a VERY educated person and knew exactly what was going on and he was rude and lost my business.

I am sad to see the customer reviews don't seem to affect the rating! If I had scrolled and looked at the customer reviews and saw 4 positive, 1 neutral and 9 negative, I would not have looked into anything further. If this is what an A+ rating means from the Revdex.com then the Revdex.com is not representing this company correctly. :(

Review: Bad practice/service of a mortage.

July 8, 2015

Paramount Equity Mortgage

P.O. Box 5914

Santa Rosa, CA 95402

To whom it may concern:

I don't know if this letter will make any difference to anyone, but I have to try.

In September 2014, I refinanced my $90,000 mortgage for a lower rate and payment. In May/April 2015 the same representative, [redacted], from your company, called to offer a new, lower rate at NO cost to me. I questioned him SEVERAL times regarding the cost factors. I was assured several times that there was absolutely no cost to me, including appraisal, closing costs, title fees, etc.

My loan at closing was $89,179 yet I ended up with a new loan of $90,700.

I feel I was smooth talked, and lied to, and I bit hook, line and sinker.

I ask you, why would anyone spend $1500 to save $23 a month?

There is much more detail to this including a pile of paperwork, different mortgage companies, and answers of problems over the phone that were not true and not return calls from [redacted].

I feel that this young man and the company he represents made false claims and took advantage of me.

I hope this letter will bring attention to these practices so others do not fall for them.

[redacted]Desired Settlement: Help with the restitution and explanation of the mortgage.

Business

Response:

When the consumer refinanced a loan he had previously obtained from Paramount, he was doing so with the believe that our "Paramount Pledge" would entitle him to a loan without any closing costs. Per the terms of our Paramount Pledge, lender credits are applied for some fees but not all. This misunderstanding was the basis for the consumer's complaint. We explained the terms of the Paramount Pledge to the consumer and offered him a refund check in the amount of $300 to cover half the title-related fees the consumer had paid. The consumer agreed to this resolution. To the best of our knowledge we consider this complaint to have been satisfactorily closed.

Consumer

Response:

I am rejecting this response because:i have talked to co. rep as of 7/23/15 at 5 p.m. there is no resolve at this time

Consumer

Response:

Consumer states: While I did accept a refund that was offered I remain dissatisfied because the results of the modification was not worth it and I was told it would be. I tried notifying my contact multiples times and when I did reach him he said that it was out of his hands.

Review: Paramount Equity Mortgage is calling/soliciting consumers in Jax, FL. and is using my co. name and phone number as their caller ID.

Paramount Equity Mortgage is calling/soliciting consumers in Jax, FL. They are using my co. name [redacted] Service) and my phone number (XXX-XXX-XXXX) as their caller ID. I am receiving XX-XXX calls per day from irate consumers stating that my company keeps calling them. After further investigating and asking customer's for more information they state that the person calling say's they are with Paramount Equity Mortgage and are calling because the consumer filled out an application online requesting mortgage information. I called Paramount Equity Mortgage corp. headquarters back in September and informed them of the situation; I was assured that their IT Department would take care of it. It is now November and I am still receiving phone calls from people throughout Jacksonville who are very upset wanting to know why my number keeps calling them. Paramount Equity Mortgage is participating in what is known as Caller ID Spoofing and I am the victim. Paramount Equity Mortgage is deliberately falsifying their telephone number and their name relayed to consumer's caller ID to hide their identity. The number they are using (XXX) XXX-XXXX is my main number and is advertised in multiple yellow page directories; otherwise, I would have it disconnected. My lines and employees are being tied up dealing with irate consumers instead of taking care of my legitimate customers. Not to mention the damage that is being done to my company's name. BOTTOM LINE: PARAMOUNT EQUITY MORTGAGE MUST IMMEDIATELY CEASE FROM USING MY COMPANY NAME AND PHONE NUMBER AS THEIR CALLER ID.Desired Settlement: PARAMOUNT EQUITY MORTGAGE MUST IMMEDIATELY CEASE FROM USING MY COMPANY NAME [redacted] SERVICE) AND PHONE NUMBER (XXX-XXX-XXXX) AS THEIR CALLER ID.

Business

Response:

Initial Business Response

We have spoken with [redacted] and explained the events leading up to this situation. Our telephony provider, [redacted] sold us the same phone number used by [redacted]'s business unbeknown to us at the time. Since becoming aware of this situation as a result of this complaint, we have cancelled the phone number from Paramount's end, and removed it from our phone system so it never again appears in our Caller ID. We have also severed our business relationship with [redacted] In addition, we have apologized to [redacted] for this situation and once she is able to provide us with the name of the individual she spoke with initially spoke with in September; we will determine why this was not adequately addressed when she first brought it to our attention, and conduct training as necessary. We will follow up with her again in two weeks to ensure that it has been satisfactorily resolved.

Review: Harassing phone calls have gone on for several months now from ###-###-####. Most of the time it rings and stops, or hangs up as soon as I answer. I have spoken to someone several times and requested that the calls stop and to be placed on the do not call list with no results.Desired Settlement: I will proceed to report the harassment to the FTC and file a harassment lawsuit.

Business

Response:

We spoke with Mr. [redacted] regarding this complaint on 11/24/2014. At that time, we stated that we had purchased a lead from a lead provider, that someone had falsely completed. The name associated with the lead form was a female rather than Mr. [redacted]. In addition, Mr. [redacted]'s phone number was falsely entered as well. In the course of completing this form, the individual provided Express Written Consent (EWC), which gave us permission to call that number regardless of it being listed on any federal or state Do-Not-Call lists. Since we had no knowledge or way of knowing that the lead was false, we attempted to call his number 18 times over the course of 38 days. In all cases but one, the call was picked up by an answering machine. When we finally spoke with Mr. [redacted] and he indicated he was "not interested" we added his phone numbers to our Internal Do-Not-Call List, and no subsequent calls were made. We apologized for the frustration caused to Mr. [redacted], but believe we fully acted in compliance with all federal and state regulations, and our internal policies. A copy of our "Consumer Do-Not-Call Policy" has been attached for further reference.

Consumer

Response:

The calls finally stopped, but it took unwarranted action on my part, after experiencing great inconvenience and many disturbances. Most of the automated calls that I did attempt to answer were disconnected right before I pick up after 2 rings, or immediately after picking up the phone.I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me.

Review: Paramount Equity Mortgage, LLC have consistently and repeatedly called our home insisting that we have signed and submitted an application for refinancing, when have never submitted an application for any service in connection with this business. I have requested to be removed from their call list, but this business has yet to comply with my request. The last individual I spoke with was [redacted].Desired Settlement: I would like to be permanently removed from their call list and no longer receive any calls from this company.

Business

Response:

After researching Mr. [redacted]'s complaint, it appears that we attempted to call him once per day on 6/20, 6/21, 6/24, 6/26, 7/10, and 7/21. All of these attempts went to an answering machine. On 8/5 Mr. [redacted] spoke with [redacted] and requested he be added to our Internal Do-Not-Call List. On the same day, Mr. [redacted] spoke with [redacted] and again requested to be added to our Internal Do-No-Call List. It has been confirmed that his phone number is on our Internal Do-No-Call List as requested by Mr. [redacted]. A copy of our Consumer Do-Not-Call Policy is attached for further reference. We believe we have satisfied this complaint.

Paramount Eqty called me yesterday saying I applied for a loan with them then later said I filled out a request on some web site I had never heard of. They must have been watching other companies with spyware and found me appliying for a loan. He went on to say how wonderful they are.. By the way they called me 5 times yesterday. I finally answered on the 3rd as I was off work and wondered what they wanted. I told him to call back at 4:30 but he called me back at 3:43 and 4:12, not 4:30 like I said. So I did not answer and I wanted to check on their credibility on line once home. I see these not so nice comments and decided not to do business with them and replied to his email saying do not call me back. He sent me an email showing they were rated very high with Revdex.com. I wonder if it is fake or missing some crucial information. Well today I got 4 calls so far. 10:20 am, 12:20 pm 1:58 pm, and 4:53 pm. The notes below are correct they call and call and don't give up. I have caller ID. He said they are not brokers, yet he said they sell the mortgages so that does make them a broker. I would rather just get my loan from the bank so I don't have to pay the middle man.

Paramount Equity Mortgage ,LLC 8781 Sierra College Boulevard Roseville, CA 95661

My previous complaint was all a misunderstanding with Joel Yaeger I am satisfied with he work completely.

Gwendolyn Davis

Review: Paramount Equity calls my house night and day everyday. This has been going on for months. Usually we don't answer the call, but we've started to and everytime we answer they hang up on us. It doesn't matter if I answer the phone or my husband does. It's like they're trying to find out our work/activity schedule. No one has ever talked to us from there. The number is coming from their local branch in Spanish Fork, UT. The number is 801.201.7055. If they don't stop I'm going to report them to the police.Desired Settlement: I want them to stop calling my house. They shouldn't be listed as a legitimate business and get your recommendation.

Business

Response:

Based on a review of our call records to the complaintant, we attempted 20 phone calls over a 46 day period from 12/4/2014 through 1/20/2015. Our first call was answered by the complaint's son who indicated the complaintant was not at home, and that we should call back that evening. All other call attempts until our final call on 1/20/2015 were picked up by the complainant's answering machine. It wasn't until 1/20/2015 that our call was answered and we were requested to add them to our Internal Do-Not-Call List which we did, and no other calls were attempted. We take our obligations under federal and state laws seriously with respect to our telemarketing efforts. We believe we were compliant and satisfied their desired settlement.

Consumer

Response:

I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me.

The whole explanation wasn't exactly accurate, but I'll take it. They have discontinued calling me and that was the goal.

Thank you,

Review: I was attempting to refinance my home. I paid for an appraisal and told my loan officer [redacted] the day they were to withdrawal payment from my checking account. The amount was taken a day before it was supposed to and I suffered two insufficient funds fees from my bank totaling $70 in overdraft fees. [redacted] assured me the funds would be refunded to me, and this was back in October. I have received no refund to this date.Also, the appraisal was being disputed by me as I felt the appraisal calculation on the value/market value of my home was incorrect. I have not received any further communication from Paramount Equity since November 11th, 2014, and am unable to reach anyone who can help me with the process of my refinance. I just had a conversation from someone from customer service and they looked into my file and I was told it appears my loan has been deemed inactive and not able to be processed.I feel I should have been contacted with this information. I also feel I should be refunded my $500 I paid for the property appraisal as I have researched the comparable market value of properties in my area that have sold in the last 12 months and my home should of been valued for at least $130,000, not the $105,000 as Paramount Equity told me the appraisal came back as.I have also not had the latest appraisal delivered to me for my viewing either so I have no real proof of the actual appraisal that was recently completed or what the property actually appraised for. Thank You,[redacted]Desired Settlement: $70 for the overdraft fees incurred by withdrawing appraisal fee earlier than authorized and refund of appraisal of $500 for which I have never received via us post or email. I feel I should not pay for an appraisal I have no access to.So I feel my total refund from Paramount Equity should be $570.Thank You,[redacted]

Business

Response:

Initially, we improperly followed up with with [redacted], and inadequately explained the appraisal process to her. We spoke with her and reviewed the appraisal with her. We have refunded the $70 overdraft fee she was charged. While still unhappy with the appraised value and the appraiser, [redacted] was pleased with our response and was satisfied with the resolution.

Consumer

Response:

I am rejecting this response because:I have not recieved a refund. They promised me one but I have not recievex the refund. Also, I had asked to have a different appraiser do my appraisal due to a conflict of interest and the failed to provide me with a different appraisal at the time original appraisal was being performed. I wish to have my original appraisal fee of $500 refunded as well.

Consumer

Response:

I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me.

Business

Response:

Our EVP of Sales Operations spoke with Ms. [redacted] on 12/23/2014, and committed to refunding the amount of she previously paid for her appraisal. Based on this discussion, we believe this complaint to have been satisfied.

Review: We wanted to refi our house and friends of ours referred us to Paramount Equity and [redacted] and his team. We started this process in November, before Thanksgiving, with a conventional loan. We switched to a VA loan in December. Here we are now in the 2nd week of March, and still nothing. [redacted] told us to not pay our house payment in February because it was 'within days of being completed." We ended up paying our payment. Anytime I call, [redacted] doesn't return my calls in a timely manner or when he says he is going to. I even made a trip from my home in Central California to Roseville to put a face to the name and voice that had been over the phone, hoping to put some fire under [redacted] to get the ball rolling faster. Once again, [redacted] promised we would have our declarations on that Thursday. Well, once again, Thursday came and went, so did Friday, and now we are midway in the next week. I have called two people who were higher up, [redacted] Hughes and [redacted], who also said they were "personally" going to take this over and get it finished up. They aren't good with their word either. At this point, I am going to pull all my information with Paramount and I am going somewhere else that can deliver the goods. I would not recommend using Paramount for any mortgage needs. The right hand doesn't know what the left is doing and I am totally done with this company.Desired Settlement: Finish the job ASAP, otherwise there is no resolution to be had and my complaint stands.

Business

Response:

We have worked with the customer and have gotten his loan done. He has stated he tried to take the complaint down but has not heard back from the Revdex.com.

Consumer

Response:

I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me.

If not for [redacted] this issue we feel would have not been resolved, I would only deal with [redacted] and his team over [redacted] and his team. Due to his efforts is why we gy this done and when he said he would do something he did very pleased with [redacted] but not [redacted]. Thank you [redacted]

I have bought several homes and done a few refinances in my time. Paramount Equity was the most unprofessional experience I have ever had with ANY business! I have excellent credit and after 97 days of being lied to, having them not return calls or emails, and other unprofessional behavior I fired them. They evn ignored my request to sit down and discuss why this simple 30 day refinance was taking so long. Totally unprofessional behavior!

I'm reading the reviews & im concerned. I'm in the process of refinancing & so far, my loan agent is doing a great job. Crossing my fingers that everything will continue to go well.
Mele
customer from Texas

Review: I read these reviews before I began my business with Paramount Equity Mortgage on March 9, 2016, and thought it was just a few unhappy customers making claims. I truly did not want to write this review but they took my money. In fact Mr [redacted] and I discussed these complaints before we started. It saddens me to report this, but I too have had a horrible experience with this company. First of all, after speaking with a rep named [redacted], he told me I was qualified for their loan program to refinance my mortgage. He told me I would refinance for $424 to cover everything. On March 10, 2016 I provided him with all the necessary documents and he told me my loan would take about 20 days instead of 45 because my response was so fast. He asked me for an appraisal fee of $495 and I paid it the same day. The appraiser was scheduled to come to my home on Saturday March 12, 2016. Well, by Monday afternoon I was told I did not qualify because my appraisal came back at $445. They told me it was too low and they could not work with me. "Denied" I have been going back and forth with Mr [redacted] to get my money back because if feel ripped off. Not only did they debit my card once, but twice. The first debit of $495 cleared on the 14th and a second debit cleared my account on the 18th after pending for 4 days. I have been asking them to refund my money and they cannot seem to get it done. I keep getting excuses and still to this date it is not done yet. Mr [redacted] keep telling me he is working on it and gives me excuses. I called my bank ([redacted]) immediately and they told me that it will take 15 days to settle this and in the meantime my bank is overdrawn with all types of overdraft fees because of that second payment. The bank says they are familiar with this company and is giving them time to reverse the charges before they step in. I have called emailed, and texted them everyday and all I get is "They are working on it" This is not fair to consumers like me. It is a Ripoff.... I want my money back into my bank account. The entire $990 needs to be refunded because they are not an honest company. They lead me to believe I would refinance my mortgage loan for a lower rate, and save money.... But they stole my money and did not provide me the service they promised. I need a resolution... I am not happy at all with this transaction.Desired Settlement: I would like to have a full refund of $990 and overdraft fees and late charges to my bank account because they debited my card twice and did not deliver what was promised. I'm very disappointed that they lead me on to believe this was a simple process, when it has been a nightmare from day 3. Can someone please help me resolve this issue?

Business

Response:

The company has completed its research on this matter and we spoke to the customer. All fees have been credited back to the customer.

Consumer

Response:

I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me.

Review: My story is exactly like the last complaint from Aug 14, 2015, except mine didn't take as long, but had the same end result. Everything began very promising, I was trying to refinance my current mortgage loan to a 15 year loan. I was told everything looked great and that there wouldn't be any issues to close the loan by the end of September 2015. Since my husband is currently not working, I was applying by myself. On September 1st I was told the appraisal company would be contacting me to schedule the appraisal appointment, did not hear from the company until Sept 10th. I had to pay $495 for the appraisal. On Sept 4th I was told that they need to run my husband credit report. On Sept 9th I was told that they were working on my loan and that it would be submitted to underwriting and the they should receive an approval no later than the beginning of the next week. On Sept 9th I asked if the appraisal would be done after the loan was approved, they told me it would be before the approval. That should have been a red flag, but I didn't think much of it because I was told the loan would be approved. The week of Sept 14th I was told they need information on my husband mortgage loan where he is a cosigner on his parents property. On Sept 21st I submitted all the information required and on Sept 25th I received an email stating they couldn't approve my loan that the underwriting didn't accept the information provided, where my husband is a cosigner on loan but is not responsible for any of the payments. The loan officer need additional training, so they can stop making false promises. They need to gather all the information prior to making promises that can't be meet because they lack interpretation skills of the information they are looking at.Desired Settlement: I would like for Paramount Equity to reimburse me the appraisal cost of $495.00. If the loan officer knew how to interpret the information they have, they would have realized that the appraisal was not needed because of the second mortgage that my husband is a cosigner. They should never guarantee an approved loan when they don't have the control over the final decision. I trusted the loan officers and now I am out $495, which I was clear with them from the beginning.

Business

Response:

Hello,Thank you for bringing this customer issue to our attention. I have been spending the last 10 days researching this issue and we have tried numerous times to contact the customer so that we can understand her issues and come to a resolution on this matter. however, we have not been able to contact the customer and she has not called us back either. Until we hear from the customer, there is not much I can do as her information is key to this resolution. We will continue to try and reach her to resolve this matter.Thank you.[redacted]

Business

Response:

[redacted],I apologize for the mail you received. The response was sent in error. Brian is having your refund sent through as you explained. My name is [redacted] and I am the [redacted] for the company. If you need anything else, please don;t hesitate to reach out. My phone number is [redacted]Thank you.

Consumer

Response:

I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me. "[redacted] called Revdex.com complaint handler and left a voicemail and stated that she received her full refund for the appraisal on Saturday 10/17/2015 and she waited until the check cleared today 10/20/2015. The complaint is resolved to her satisfaction and thank you. "

This is the 2nd time I have worked with Dustin A[redacted]. 6 months ago he helped me with a refi and it was a breeze! Super quick and easy! Fast forward 6 months and my bf and I decide to buy a place together. Between the fact that he is self employed and this was jumbo loan, it was crazy. The amount of paperwork, calls and emails was insane, but Dustin and the loan processor, Roge R[redacted], they kept us in the loop and moving forward! We were able to close in 32 days! It was almost a miracle! I appreciate the extra long hours they put to make sure we could close. Thank you!!

Warning, the worst mortgage company I have ever Dealt with. Was nice at first promised to close in 30 days when I started asking questions they would just lie and make up excuses. Never would call when promised. I never received a full hud breakdown. Don't waste your time with company, unless you are ready to be lied to and given the run around. I submitted a negative review on zillow and Mike S[redacted] the manager told me if I deleted it he would Continue my loan.

Review: Refinanced house with this company based on original quote of what we would be receiving back at closing. We went with this company ONLY based on this lump-sum of money. The other company we would be going with, had us missing 2 months mortgage and was reimbursing us for the appraisal. Ryan emailed me his quote; where we would be getting $1746.58 back at closing, to offset 1 months mortgage and get the appraisal fee back. He had pulled the credit report prior and knew what the pay-off was. Never once communicated this was changing. (There were other misses in communication that cost us money here and there that he failed to communicate also) Due to the holiday he was going out of town and rushed my boyfriend (who he has never spoken with) to sign the papers. He only received $528 back at closing and we had to pay the past months mortgage. If there was anything changing from the original quote it should have been communicate. He knew he would lose our business if he told me so he kept quiet.Desired Settlement: I would like the additional $1200 that is owed to us.

Business

Response:

The estimated cash to the borrower that appeared on the initial Good Faith Estimate reflected the borrower receiving $1,746.58. After a Payoff Demand was received from his current lender, the borrower made an additional mortgage payment rendering the previously obtained Payoff Demand inaccurate. As a result, the borrower received $528.00 at closing. The borrower should be receiving a refund from their previous lender in the amount of $1080.60, reducing the difference at closing to $137.90. As this situation resulted from the additional mortgage payment, we believe we have resolved this complaint.

Consumer

Response:

I am rejecting this response because: [redacted] told me we needed to pay Decembers mortgage. I had another company that I didn't need to pay Decembers mortgage with. [redacted] promised me that we would be receiving the $1700 at closing due to taking cash out. This was not being considered a "cash-out refinance" due to the amount not exceeding 2%. I would NOT have paid Decembers mortgage if [redacted] didn't tell me to! Why was it not ever communicated there would be a change in the amount received to borrow at closing? Also, when asking when the ($1700) check would be arriving it was never communicated at that point either.

Business

Response:

When the consumer spoke with our EVP of Sales on 1/30/2015, he explained what had transpired with her previous lender and that this situation was not caused by Paramount. He refunded her appraisal fee, and worked with her previous lender to track down her funds and obtain her a refund. At the time, she indicated that this complaint was resolved and promised to clear the complaint with the Revdex.com.

Consumer

Response:

I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me.

Review: I started a refinance applicaton in July 2014 with Paramount Equity Mortgage.I paid for an appraisal, forked over all of my personal data, credit and finacials etc. I was informed that I was approved in mid July, however the company has since continously ignored by phone calls and emails. It is currently Oct and I have no loan with them and no contact. My file is supposedly with the VP of the company for 2 months now. I am very concerned that my personal/financial data has been compromised. The lack of follow up, even a courtesy call or letter stating "we have gone out of business" or "are no longer processing your loan request" would have been better than nothing. Even early on if I didn't initiate a call I wouldn't hear from the company (suspicious to say the least). I need to get my money (plus interest) and my complete loan file returned with assurance that my personal info has not and will not be shared with Parmamount or any of its affiliates. My next step is to file litigation for personal damages due to the gross negligence of this outfit. Buyer Beware DO NOt fall into the same trap that I did.Desired Settlement: I swiftly demand a full refund (appraisal fees) with applicable interest, my complete loan file returned and a letter from the President/CEO of the company that confirms that my personal info has not and will not be shared with Parmamount or any of its affiliates. I fully expect to receive free credit monitoring (with the 3 Bureaus)for up to 2 years paid for by Paramount Equity Mortgage to ensure that my personal credit has not been compromised.

Business

Response:

We are in response of this complaint and will respond by 11/7/2014.

Business

Response:

We have apologized to Mr. [redacted] for our lack of clarity in turning down his loan application, which resulted in his hope of an eventual loan approval. As a result, we refunded the appraisal fee to Mr. [redacted].

Review: Put in for a refinance loan with paramount equity mortgage. I was told I had great credit and should not be an issue. My first mortgage representative had me turn in all my documents and said everything looked great. Beings I'm a veteran they had to put in for paperwork from the veterans administration so I could get a VA loan. Then I was recontacted they said I had to get and appraisal on my house, but everything was looking good and should not be a problem.Set up appraisal which was $495.00 had to pay it up front. Appraisal was done and everything came out good, said should not have issue with loan. Did well and water tests which I had to pay for and also pest inspection. Waited quite awhile to hear back from mortgage company kept saying they were waiting for letter from VA. After almost a month finally heard something back. Then they asked if I needed my spouse on loan because they could do it without, I said reason I wanted spouse on the loan so my home was in both of our names.So we turned in all of our items including tax returns again was assured of no issues.Then after several more weeks I was told now my loan would not go through underwriting because of dept to owe ratio. Why tell me everything was good and it wasn't. Then had to pay for all those items and nothing.I thought that was end of everything but a couple weeks later another loan officer called me said the first guy was young inexperienced and made mistakes. She said loan looked good and the VA had gotten certificate in so should be no problems for loan.Sent in more paperwork for both my spouse and I that they said they needed. Had to give more information on checking and savings accounts made us pay off several of our credit cards and accounts over 7000.00 paid off so it would look good to underwriter. Again nothing. Also they did 3 hard credit checks on us ruined our scores. Not sure why they did that. And after 3 different loan officers I got oh we are sorry that happened.Desired Settlement: I would like a refund for the appraisal and my credit report restored. This company should not have ran three hard credit checks on both of us. This way I can go to a different company as of right now they ruined my credit score.Thank you Susan Best-Olds.

Consumer

Response:

Thank you again,I have been contacted by Paramount Equity Mortgage, and they are reimbursing my appraisal funds. They contacted me and apologized for the inconvenience. I'm hoping they can restore my credit score not sure if they are working on that.But I do thank you for your timely assistance in this matter it is appreciated.[redacted].Sent from my iPad