Peoples Home Equity, Inc.

Ronald [redacted] was sent his first payment letter 7-17-15 with
instructions to make his first payment to Peoples Home Equity, Inc. due
8-1-15.  He made this payment 8-7-15 to
PHE.  On 7-20-15, he was sent the Notice
of Assignment, Sale or Transfer of Servicing rights directing him to...

make his
September payment due 9-1-15 to [redacted].  [redacted] was utilizing Loan Care
Servicing Center to service their loans.  Mr. [redacted] made his September payment to them on 8-25-15.  [redacted] started using a different
servicing company around this time.  The
Money Source sent Mr. [redacted] a notice to make his October payment to The Money
Source at a different address and Loan Care Servicing Center sent Mr. [redacted] a
goodbye letter.  He made his October
payment to [redacted] 10-2-15.  All
Mr. [redacted]’s payments were paid correctly and on time.  [redacted] has stated Loan Care
Servicing Center did not notify them Mr. [redacted] made his September payment to
Loan Care Servicing Center.  Therefore,
the payment was not recorded correctly with [redacted].  All payment issues between [redacted]
and Loan Care Servicing Center have been rectified.  PHE was not involved in these errors, but
took the steps to assist Mr. [redacted] with getting everything resolved.At this time, [redacted] is working on paying Mr.
[redacted]’s taxes properly.  PHE received
notification from [redacted] 11-19-15 that the taxes were in process of
being disbursed and the check would be cut 11-20-15 and sent overnight to the
taxing authority.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me. We have lodged a similar complaint against [redacted], as we still have not received proper credit for our September payment. The taxes were paid, but we had to log onto the Will County website to make sure it was done properly.
Sincerely,
Ronald [redacted]

After the horrible experience we had with PHE, and then my brothers horrible experience I feel as if people should know that if you want to purchase a home and have dates scheduled for things happen on those dates, this is not the right lender for you! After having our closing pushed back on more than one occassion, we didn't close until a month and a half later than we were scheduled for. The lender lost paperwork and then had to have us provide her with the same documents again. It was pushed back so many times we then had to get all new updated bank statements and have our credit report pulled AGAIN! It was the most obnoxious and unorganized situation I have ever experienced or even heard of! I would NEVER recommend this company to anyone and regret using them for what should have been a joyous time!

Review: I was working with this company to refinance my home in May 2015 and as part the process they had sent over an appraisal management company to appraise my home. As the comparable and other details in the appraisal report was not right, I had informed the mortgage company that I would like to dispute it and they mentioned that I should go through my bank to do it with the appraisal company. I also submitted all the required justification to the mortgage broker who was working on this loan. So I initiated a dispute through my bank and after 2 months, my bank came saying the appraisal company does not talk to anybody other than the mortgage company for questions/disputes regarding appraisal report. I sent an email to the Mortgage broker who assisted me in this process mentioning the same but did not get any response. This company did not assist me and also misguided me & wasted my time and money.Desired Settlement: Since May 2015, I have been shuttling back and forth and wasted my time and energy. So I would like to get my money ($425) back. Please help.

Business

Response:

I have had a chance to review your file. We require an appraisal on loan files and use an independent appraisal management company as a third party as do most lenders. Being a mortgage company, we do not have any control over the appraised value of your property. The correspondence in your file indicates that you were not satisifed with the appraised value. The property appraised for slightly more than your purchase price 10 months earlier which does not seem unreasonable. I do not see any formal request from you for reconsideration of value but did review supporting documentation from you why you felt it should be worth a higher value. During that same time frame May 2015 you told us not to go any further with the loan. Up to that point all emails and text messages seem to have had a timely response between you and the loan originator. The file had subsequently been cancelled. The next correspondence from you was an email October 2015 which went into a spam folder which is why you didn't get a response. It was not because you were being ignored. We were not aware of the contact. We are not sure what you mean regarding disputing your appraised value by going through another bank. I'm not following that part of your comments. Six months have elapsed since your appraisal was completed and appraisals are good for 120 days. If you would like to re-apply for a refinance transaction we would be happy to cover the appraisal cost if your loan goes to closing. Please feel free to contact me direct if you would like to discuss this further. Thank you. [redacted]

Business

Response:

[redacted],This Revdex.com complaint is the first I have heard of your dissatisfaction from a transaction that occured 6 months ago. I would be happy to meet with you to review the details of your file to address your additional comments. I have to correct my prior response regarding your request for reconsideration of value. The documentation you supplied disputing value was reviewed by the appraiser and he responsed accordingly. The information did not change the appraised value and was shared with you at that time. I can forward it to you if you do not have it for your records. You have disputed the value and the appraiser responded. I'm sorry there is still a disagreement and that you elected to cancel your transction but that is your right. The appraisal management companies are third parties to these transactions and they have backed up their work with their response. [redacted]

Consumer

Response:

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

Business ([redacted]) mentioned that the appraiser responded to my comments on the dispute and they had shared the same with me. But I did not get any updates from either them or the appraiser.