Carmel Financial is a respected leader in the finance industryWe strive to assist our customers in any way possibleWith this said, not all requests are able to be completed by Carmel Financial Corporation, as was with this requestWe currently are not in a position to do Subordinations, and do
not have a legal requirement to do so, therefore cannot complete this request
Carmel Financial Corporation has no obligation to subordinateWith that being said, Carmel Financial Corporation did do an exception Subordination on Mr*** previously as customer advised, but was clear with customer that it was an exception that was being doneCarmel Financial had understood
at that time that the reason for doing so was to assist the customer with his monthly expensesAt this time Carmel Financial will not approve a 2nd subordination
Revdex.com:I have reviewed the response made by the business in reference to complaint ID ***, and have determined that the response would not resolve my complaint. For your reference, details of the offer I reviewed appear below.Just not contacting me is one thing, I have to know that they understand there is NO reason to contact me, or my wife; that we don't owe them anything and that they will NOT be reporting against my credit any longer.Regards,*** ***
Dear *** ***-We have reviewed Mr* *** account and the associated credit bureau reporting. The account is reporting correctly. The account status will be reported for years from the date of first delinquency under the Fair Credit Reporting Act (FCRA). The high credit and
credit limit reflect the maximum amount of credit utilized on the account and the highest amount that could have been used when the account was open, respectively. Since the account has been paid, the balance is properly reflected as a $balance. All of these factors conform to the FCRA.Please contact me with any questions
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that the response would not resolve my complaint. For your reference, details of the offer I reviewed appear below
It is true that they did not accept the automatic signature as part of their policy, which was fineHowever, at this point they have been provided a "wet" signature and not given the information requestedSimilarly, they sent me a generic word document saying that the account had been satisfied but the document is not professional in any sense of the termIt does not have any identifying information such as account number, item paid off, etcThe document is also a word document, that is still editable, without any letter head or anything to show that it is an "official" documentI reached out to this company in regards to the lack of information and requested that they send the same letter and simply add an account numberI did not hear anything back from the individual I responded to but got a call from a representative saying it could take hours in order to add my account number to the letter as the manager had to "research what changes they could make to the letter." Who sends out an account pay off document without any information to identify the account? Why does it take hours to add an account number to a document that is easily editable? Why have they not replied to my refinance company and given them the information requested? No, they are not actively working on this issue as they are the beginning and end of the issue thereby are able to resolve it when they decide to do soThe final payment has cleared and there is no reason not to provide myself with what I am requesting nor my refinance company the information they have requestedI have attached their letter to the attachments as an example of the professionalism, or lack thereof, displayed by this company
Regards,
*** ***
Dear *** *** - We will work with Ms.*** to subordinate our UCC-such that we remain in no less than a second position with respect to this property.Sincerely,Joe ***CFO
Dear *** *** - As Ms*** had requested (it may have been in another filed complaint), the proper documents were filed with the credit bureaus to cease her credit reporting on July 9, 2015. Please keep in mind that we have no control over the credit bureaus and their processing of these documents. However, we inquired of Transunion on 8/11/and the reporting had been deleted.Her account has been cancelled and any UCC filings have been released. I believe that this complies with Ms***'s request.Please contact me if you need more information.Joe H***CFO
Dear *** *** - We have been working with Mr*** and his title company to close a new mortgage loan. We have consented to take no less than a second position with our UCC-Fixture Filing. If you have any questions, please contact me.Joe ***CFO
We are an independent finance company
that purchased the loan from The Military Travel Store. Mr*** purchased a ticket from The Military Travel Store and subsequently
cancelled that purchase. For the value paid, Mr*** was promised (by The Military Travel Store) a
replacement
ticket within months. Prior to a replacement ticket being
issued, The Military Travel Store went out of business. Carmel Financial was recently made aware that Mr***’s replacement ticket was not issued and will not be
issued. We have cancelled his account with us and cleared all amounts due to Carmel Financial Corporation
Revdex.com:I have reviewed the response made by the business in reference to complaint ID ***, and have determined that the response would not resolve my complaint. For your reference, details of the offer I reviewed appear below
A “respected leader in the finance industry” would recognize its fiduciary and moral obligations to its customers. It is manifestly untrue to claim that Carmel Financial is not in a position to do subordinations; generating a subordination agreement is no more difficult than generating a lien document, which Carmel Financial does regularly. While the law does not specifically require companies to subordiante liens when there would be no detriment to the company in doing so, Carmel Financial's policy of arbitrarily preventing its customers from improving their financial situation is antithetical to Carmel Financial's claim made here that the company strives to help its customers. It is common-practice for respected leaders in the finance industry to subordinate liens when there would be no detriment to the company’s interest in doing so, and to charge a subordination fee in order to support the costs associated with the activity. Regards,*** *
Carmel Financial is a respected leader in the finance industryWe strive to assist our customers in any way possibleWith this said, not all requests are able to be completed by Carmel Financial Corporation, as was with this requestWe currently are not in a position to do Subordinations, and do
not have a legal requirement to do so, therefore cannot complete this request
Carmel Financial Corporation has no obligation to subordinateWith that being said, Carmel Financial Corporation did do an exception Subordination on Mr*** previously as customer advised, but was clear with customer that it was an exception that was being doneCarmel Financial had understood
at that time that the reason for doing so was to assist the customer with his monthly expensesAt this time Carmel Financial will not approve a 2nd subordination
Revdex.com:I have reviewed the response made by the business in reference to complaint ID ***, and have determined that the response would not resolve my complaint. For your reference, details of the offer I reviewed appear below.Just not contacting me is one thing, I have to know that they understand there is NO reason to contact me, or my wife; that we don't owe them anything and that they will NOT be reporting against my credit any longer.Regards,*** ***
Dear *** ***-We have reviewed Mr* *** account and the associated credit bureau reporting. The account is reporting correctly. The account status will be reported for years from the date of first delinquency under the Fair Credit Reporting Act (FCRA). The high credit and
credit limit reflect the maximum amount of credit utilized on the account and the highest amount that could have been used when the account was open, respectively. Since the account has been paid, the balance is properly reflected as a $balance. All of these factors conform to the FCRA.Please contact me with any questions
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that the response would not resolve my complaint. For your reference, details of the offer I reviewed appear below
It is true that they did not accept the automatic signature as part of their policy, which was fineHowever, at this point they have been provided a "wet" signature and not given the information requestedSimilarly, they sent me a generic word document saying that the account had been satisfied but the document is not professional in any sense of the termIt does not have any identifying information such as account number, item paid off, etcThe document is also a word document, that is still editable, without any letter head or anything to show that it is an "official" documentI reached out to this company in regards to the lack of information and requested that they send the same letter and simply add an account numberI did not hear anything back from the individual I responded to but got a call from a representative saying it could take hours in order to add my account number to the letter as the manager had to "research what changes they could make to the letter." Who sends out an account pay off document without any information to identify the account? Why does it take hours to add an account number to a document that is easily editable? Why have they not replied to my refinance company and given them the information requested? No, they are not actively working on this issue as they are the beginning and end of the issue thereby are able to resolve it when they decide to do soThe final payment has cleared and there is no reason not to provide myself with what I am requesting nor my refinance company the information they have requestedI have attached their letter to the attachments as an example of the professionalism, or lack thereof, displayed by this company
Regards,
*** ***
Dear *** *** - We will work with Ms.*** to subordinate our UCC-such that we remain in no less than a second position with respect to this property.Sincerely,Joe ***CFO
Dear *** *** - As Ms*** had requested (it may have been in another filed complaint), the proper documents were filed with the credit bureaus to cease her credit reporting on July 9, 2015. Please keep in mind that we have no control over the credit bureaus and their processing of these documents. However, we inquired of Transunion on 8/11/and the reporting had been deleted.Her account has been cancelled and any UCC filings have been released. I believe that this complies with Ms***'s request.Please contact me if you need more information.Joe H***CFO
Dear *** *** - We have been working with Mr*** and his title company to close a new mortgage loan. We have consented to take no less than a second position with our UCC-Fixture Filing. If you have any questions, please contact me.Joe ***CFO
please see attached response and attachments
We are an independent finance company
that purchased the loan from The Military Travel Store. Mr*** purchased a ticket from The Military Travel Store and subsequently
cancelled that purchase. For the value paid, Mr*** was promised (by The Military Travel Store) a
replacement
ticket within months. Prior to a replacement ticket being
issued, The Military Travel Store went out of business. Carmel Financial was recently made aware that Mr***’s replacement ticket was not issued and will not be
issued. We have cancelled his account with us and cleared all amounts due to Carmel Financial Corporation
Revdex.com:I have reviewed the response made by the business in reference to complaint ID ***, and have determined that the response would not resolve my complaint. For your reference, details of the offer I reviewed appear below
A “respected leader in the finance industry” would recognize its fiduciary and moral obligations to its customers. It is manifestly untrue to claim that Carmel Financial is not in a position to do subordinations; generating a subordination agreement is no more difficult than generating a lien document, which Carmel Financial does regularly. While the law does not specifically require companies to subordiante liens when there would be no detriment to the company in doing so, Carmel Financial's policy of arbitrarily preventing its customers from improving their financial situation is antithetical to Carmel Financial's claim made here that the company strives to help its customers. It is common-practice for respected leaders in the finance industry to subordinate liens when there would be no detriment to the company’s interest in doing so, and to charge a subordination fee in order to support the costs associated with the activity. Regards,*** *