Platinum Home Mortgage Corporation

Initial Business Response / [redacted] (1000, 5, 2015/08/05) */ Ms [redacted] , We received the complaint you submitted and hereby respond to it We certainly understand your frustration regarding the circumstances surrounding the verification of your income that led to Platinum's denial of your loanIt is unfortunate the loan could not have been approved, and we have already refunded your appraisal fee in the full amount of $ However, we must dispute an item of fact in your complaint, which is that you state that you were "at the 'clear to close' stage", and that your "loan was approved." Unfortunately, this was not the caseOnly underwriters can approve a loan after all verifying documentation is received and substantiatedAs you correctly stated in your complaint, we were "unable to verify my income due to my employer not being able to supply this information..." By government requirements, we are required to verify a borrower's income and ability to repay a loanAbsent such, we are not allowed to approve a loan for any borrowerWhile it may be correct that you provided your income information at the beginning of the process, because your employer was unable to provide the required information, your loan could not be approvedAs this is a public forum, we do not feel it respectful of your privacy to include any additional details regarding your income or employment Nonetheless, we can empathize with your situation, and reimbursed your appraisal fee on July in the full amount of $as stated aboveAs for your request that we reimburse your inspection fee in the amount of $350, however, we must respectfully decline to do so because we never required you to have the home inspectedInspections are completely voluntary on the part of the prospective buyer, and are not required by us for loan approvalWe certainly would have liked for things to have gone smoother with your loan application with us, and wish you all the best in your future endeavorsPlease feel free to contact me with any further questions or concerns Initial Consumer Rebuttal / [redacted] (2000, 7, 2015/08/05) */ (The consumer indicated he/she ACCEPTED the response from the business.) I can accept the response based on the full return of the appraisal fee that I received in late July of I was told by the loan officer even via email that I was in the "clear to close" phaseAs for the inspection fee, I am aware this is a service I chose to have based on the fact that I was about to purchase a homeAll that I ask is that your company along with the loan officers advised potential buyers with the correct information and not to mislead themI have wasted a lot of time and money throughout this processBefore a preapproval is given to a buyer all information should have been verified, not after money and time has been wasted

Ms [redacted] Thank you for your thoughtful inquiry, and although we respectfully disagree about the $716, we have decided to stop any efforts to collect these funds from you any furtherWe believe an initial delay in the processing of the initial payment of these premiums at closing triggered a payment by our subservicer, Loan Care, and it caused some confusion when they sought reimbursement When the insurance company received two payments, they returned those funds to you, the consumer, per their standard protocol While we have the right to seek this reimbursement, we prefer to provide our consumers with the highest level of satisfaction, so you will receive no further requests for the return of this moneyWe hope this resolves the matter, but if not, please feel free to contact me at any time Otherwise, wish you all the best in your future endeavors Sincerely, [redacted] In-House Counsel Platinum Home Mortgage Corporation [redacted]

I was unable to alter my previous summary on 7/18/After a payment issue had come up Platinum's management contacted me and were able to resolve the issue within hoursAfter my experience with Platinum I would recommend the company to anyoneThey solved my issue with the company and the management team that helped me was transparent and set clear expectations

Initial Business Response /* (1000, 5, 2015/06/29) */
In response to this complaint you filed with the Revdex.com, we want you to know that we take your concerns very seriously and have reviewed the transaction historyCertainly, we can respect your desire for a quick closing
on the sale of your property, but there are many underwriting and regulatory conditions that must be satisfied before closing, any of which can cause an unexpected delay in the processAs I'm sure your realtor made you aware last week, this transaction had to be cancelled (after your complaint was reported)Unfortunately because the borrower is our customer, due to consumer privacy laws we are unable to comment further on the transaction

Dear Mr*** We’re sorry to hear that you were frustrated with the process in receiving your home financing through us, although I am happy to see that since your complaint, your mortgage has closed and I hope you are enjoying your new home.
On November 16, 2016, you emailed your dissatisfaction to all parties involved with your loan, and *** ***, our Senior Vice-President contacted you the next day regarding your concerns. In his letter, he described the various issues we experienced in getting your loan approved, particularly in relation to your appraisal. Once those issues were resolved, our Underwriting Department was able to approve your loan the next day. While we understand your frustration, I hope you can appreciate that there were some complications outside of our control that slowed down the loan approval process for your file In your complaint filed with the Revdex.com which we received on November 18, 2016, you also mentioned that you worked with *** ***, who you stated does not work for Platinum, and that is incorrect. Mr*** is a Platinum employee who holds several NMLS licenses, although because he was handling the file in a clerical function, he was not required to be licensed to do so. Your file was originated by *** ***, who is a Florida licensed loan originator for us. I hope this clears up any confusion about the individuals who worked on your loan file, and the capacities in which they performed If you have any further questions or concerns, please feel free to contact me at any time, otherwise, I wish you all the best in your future endeavors and thank you for your patience throughout the process Sincerely, *** *** In-House Counsel Platinum Home Mortgage Corporation ***

Ms[redacted]   Thank you for your thoughtful inquiry, and although we respectfully disagree about the $716, we have decided to stop any efforts to collect these funds from you any further. We believe an initial delay in the processing of the initial payment of these...

premiums at closing triggered a payment by our subservicer, Loan Care, and it caused some confusion when they sought reimbursement.  When the insurance company received two payments, they returned those funds to you, the consumer, per their standard protocol.  While we have the right to seek this reimbursement, we prefer to provide our consumers with the highest level of satisfaction, so you will receive no further requests for the return of this money. We hope this resolves the matter, but if not, please feel free to contact me at any time.  Otherwise, wish you all the best in your future endeavors.   Sincerely,   [redacted] In-House Counsel Platinum Home Mortgage Corporation [redacted]

Platinum Home Mortgage has been stringing us along for a payout of close to $5200.00 that they owe us after refinancing with another company. It is at least a 20 minute wait to speak with a customer service rep every time we call and each time we get a different answer. They have owed payment for over a month and a half and blame our town's mail system even though we have had other correspondence from them through the mail.
DO NOT TRUST THIS COMPANY

Initial Business Response /* (1000, 5, 2015/08/05) */
Ms. [redacted],
We received the complaint you submitted and hereby respond to it.
We certainly understand your frustration regarding the circumstances surrounding the verification of your income that led to Platinum's denial of your...

loan. It is unfortunate the loan could not have been approved, and we have already refunded your appraisal fee in the full amount of $450.
However, we must dispute an item of fact in your complaint, which is that you state that you were "at the 'clear to close' stage", and that your "loan was approved." Unfortunately, this was not the case. Only underwriters can approve a loan after all verifying documentation is received and substantiated. As you correctly stated in your complaint, we were "unable to verify my income due to my employer not being able to supply this information..." By government requirements, we are required to verify a borrower's income and ability to repay a loan. Absent such, we are not allowed to approve a loan for any borrower. While it may be correct that you provided your income information at the beginning of the process, because your employer was unable to provide the required information, your loan could not be approved. As this is a public forum, we do not feel it respectful of your privacy to include any additional details regarding your income or employment.
Nonetheless, we can empathize with your situation, and reimbursed your appraisal fee on July 28 in the full amount of $450 as stated above. As for your request that we reimburse your inspection fee in the amount of $350, however, we must respectfully decline to do so because we never required you to have the home inspected. Inspections are completely voluntary on the part of the prospective buyer, and are not required by us for loan approval. We certainly would have liked for things to have gone smoother with your loan application with us, and wish you all the best in your future endeavors. Please feel free to contact me with any further questions or concerns.
Initial Consumer Rebuttal /* (2000, 7, 2015/08/05) */
(The consumer indicated he/she ACCEPTED the response from the business.)
I can accept the response based on the full return of the appraisal fee that I received in late July of 2015. I was told by the loan officer even via email that I was in the "clear to close" phase. As for the inspection fee, I am aware this is a service I chose to have based on the fact that I was about to purchase a home. All that I ask is that your company along with the loan officers advised potential buyers with the correct information and not to mislead them. I have wasted a lot of time and money throughout this process. Before a preapproval is given to a buyer all information should have been verified, not after money and time has been wasted.