Royal United Mortgage is extremely sensitive to the financial needs of its customers. At times requirements and recommendations are construed as resistance and in this case options discussed and recommendations did not align with what this borrower wanted or expected. In its first attempt...
Royal was unable to find an appraisal management company to go locate or go to the property. In the second attempt Mr. [redacted] was able to find an appraisal company that would work with us but the appraisal outcome was completely unacceptable to the borrower. This borrower would have to make significant repairs to the property due to rotting wood trim, soffit and damaged siding. These were underwriting repair conditions that if not completed would not support the value needed for the loan. (PDF attached of requirements)There was never an intent to "trick" the customer. In every loan we make we are responsible to determine the borrower's ability to repay the obligation under Federal Law. When this application was eventually locked the final loan profile required that escrows be included in the loan payment. Mr. [redacted] attempted to reassure the borrower that doing so changes the financial expectations placed on her throughout the year. In addition to the repairs required from the appraisal, including taxes and insurance in the payment was unacceptable. We regret that we could not provide a loan without the requirements dictated by the appraiser and the loan profile. Please be advised that the appraisal company will not reimburse for a completed appraisal. Royal United stands willing to work with the borrower to complete the transaction if she is willing to do the repairs and escrow for her taxes and insurance but at no time would we attempt to trick or mandate unnecessary loan terms. Respectfully, Royal United Mortgage
Thank you for bringing this to our attention. We take all feedback seriously. Royal United Mortgage immediately opened an investigation and listened to all correspondance with the borrower. After Royal reviewed the calls the compliance department found no claims that the loan advisor advised...
the client that the house would appraise at a certain value. Furthermore, Royal United Mortgage recieves our leads from internet aggregate sources where potential clients input their information. Below is the snip it from the lead where Mr. [redacted] indicated the house would appraise at 190,000. Please know that Royal United Mortgage is very sensitive to this topic and would never order an appraisal if we knew the value wouldn’t be supported by an independent HVCC appraiser. Rest assured Mr. [redacted]’s comments will be shared with our training department to help improve our customer service.
The appraisal service was disclosed within 72 hours in writing and verbally of taking a completed application. Which is inside the timing requirements of federal and state regulations. Royal United Mortgage apologizes that the customer was not satisfied with our services; however, all fees were disclosed to the borrower.
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this response/resolution is satisfactory to me.
Regards,
[redacted]
Thank you for the feedback, we take all feedback seriously. The loan advisor that was initially on your account is no longer with our company. However, through notes with our appraisal management company it appears that the borrower cancelled the appraisal and asked to withdraw from the loan....
If there was any miscommunication between the loan advisor and borrower Royal United Mortgage greatly apologizes and would love to continue the process with Miss [redacted]. Please contact our portal on our website and a licensed loan advisor will respond quickly.
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that the response would not resolve my complaint. For your reference, details of the offer I reviewed appear below.
My loan was not denied in June of 2015 as stated be Royal United Mortgage . The removal of the disputes did lower my credit score below the minimum threshold as was expected by myself and Royal United Mortgage . So to counter act this lowering , I worked with my credit card companies by paying them enough to lower my debt ratio to them and raising my credit score . They agreed to inform the credit bureaus immediately of my lower debt ratio so my score would rise back above the minimum . This was done , so my score was raised back above the minimum with in days . Ben M[redacted] and Royal United Mortgage knew this was going to happen . If my loan was was denied in June of 2015 then why was the appraisal even done and how was it done ? The owner of the home or her real estate agent do not remember an appraisal being done or giving anyone keys to an appraiser . I also did not pay for the appraisal until June 15th of 2015 after Ben M[redacted] told me an appraisal would and could not even be scheduled until Royal United Mortgage received payment . June only has 30 days , if I paid on the 15th when was my appraisal done and when was my loan denied ? My appraisal for my home now took more than 2 weeks to schedule and complete , that was in the same state not different states like Indiana and Texas . I do not believe an appraisal was ever done and if one was done then I would like a dated copy of it . When my Real Estate agent requested a copy of the appraisal from Ben M[redacted] at a later date for a different lender she was told that Royal United Mortgage did not have an appraisal . I also do not believe Royal United Mortgage my loan in June of 2015 because I have records of them pulling my reports on 6/12 , 6/22 , 7/10 , 7/19 , 7/21 and 7/23 of 2015 . These were all pulled I believe without my consent . The only report I remember consenting to , was pulled on 4/19/2015 . I also have phone logs of calls between Ben M[redacted] and me from July and August of 2015 . I also have copies of completed forms and information requested by Royal United Mortgage from July and August of 2015 . this would be after June . The many inquiries of my credit report was the only reason my credit score dropped . I was told this by both Transunion and Equifax . I was also told by the company Royal United Mortgage uses to pull credit reports , [redacted] , that this is the most likely reason for the drop in my credit score since I had no late payments nor did I purchase or attempt to purchase anything on credit in that time period . Transunion was the one who told me that if [redacted] sent a letter Granting Authorization with a reason to delete the inquiry , that they would be happy to remove the inquires . Equifax also could remove the inquires but only needed my full name , social security number and file number . I then spoke with [redacted] and was told that they could and would do this if I had these instructions e-mailed to [redacted] / Business Customer service . [redacted] would need a letter from Royal United Mortgage authorizing them to withdraw the inquiries . I was told that [redacted] would send an e-mail to Ben M[redacted] and Royal United Mortgage outlining our conversation and instructions . I also sent an email with the instruction and outlining our conversation along with copies of what was sent to me by Transunion and Equifax . Just as with my attempts to contact Ben M[redacted] by telephone directly or thru voice messages , I never received a reply from Ben M[redacted] . I have documents showing the days the credit inquires were made , the date the money for the appraisal was sent to Royal United Mortgage , the logs of calls made and e-mails sent ( I use Skype ) and copies of documents requested and completed forms requested and returned to Ben M[redacted] . These credit inquiries , e-mails and documents are from July 2015 . If my loan was denied in June then why was this information still being requested in July ? I would at least like my appraisal fee returned since I can not receive anything for the great deal of stress Ben M[redacted] and Royal United Mortgage put me thru while I had to scramble to find a new home . To Royal United Mortgage $395 may not seem like much but to a disabled senior citizen , it is alot of money . I do not know if this was incompetence or a scheme but either way , Royal Mortgage should be ashamed .
Regards,
[redacted]
We take all feedback seriously, thank you for bringing this to our attention. Please accept this as our formal response. It is Royal United Mortgage’s opinion that the loan advisor acted in the best interest of the borrower. After reviewing the information Royal feels that there are many false...
claims to this complaint: the loan advisor didn’t screw up the appraisal, we transferred it from another company as they were dragging their feet with the borrower’s loan and the borrower wanted to switch. Royal United Mortgage could not use the appraisal because of the timing requirements of the bankruptcy didn’t satisfy Fannie Mae guidelines, the closing cost did not change from initial application to when the borrower withdrew from the loan, and the borrower is rolling in the borrowers escrows and FHA premium into his definition of closing costs. Royal receives the borrower’s credit scores directly from the credit bureaus. The borrower thought [redacted] was a more reliable source. Royal did explain this to the borrower multiple times. We regret that Mr. [redacted]’s experience was negative and we are very sensitive to the impact of a first impression. Rest assured his comments are shared internally and with our training department to help improve our company.
Revdex.com:I have reviewed the response made by the business in reference to complaint ID[redacted], and have determined that the response would not resolve my complaint. For your reference, details of the offer I reviewed appear below.
First, United Mortgage at no point said I paid a non-refundable waiver for an appraisal. In fact, the original issue was the amount of untruths including a $495 appraisal that I said I was not going to pay and wanted to void the whole transaction. The only reason I even received a follow up call was because I logged a complaint with the Revdex.com. United lied again saying they would call me back and it should not be a problem with my $200, this was Monday last week, but they never did call me back. This company is outrageous. On Saturday March 19th I received, in the mail, a bill from my home owners insurance company that had United Mortgage as the lender!!! United Mortgage actually sent to my homeowners insurance AFTER I said I wanted out of this fiasco. I have been in the service industry for over 30 years and cannot believe this. I read all the negative reviews via the internet about this company in the last week. It is unbelievable that their business practices are even legal. I hope the Revdex.com can deeper dive into my words and see what is going on. The same guy who is sending you responses is the same guy that lied to me. Such a cover up and a mistreatment to an innocent party. Regards,[redacted]
Thank you for bringing this matter to our attention. The appraisal was canceled on Friday 9/8/2017 due to the fact that we could not move forward with the loan. While we put a lot of effort into getting this loan funded for the borrower, underwriting came across a problem that would not allow us to...
proceed. Royal United is committed to providing excellent customer service and in no way would expect a borrower to pay for a service that was never rendered. A refund was issued Monday 9/11/2017 to the borrower.
We take all feedback seriously, thank you for bringing this to our attention. We have removed all contact information for Mr. [redacted]. Many companies attempt to reach Lending Tree inquiries simultaneously and unfortunately this can lead to multiple calls in a short time frame. We regret that Mr....
[redacted]’s experience was negative and we are very sensitive to the impact of a first impression. Rest assured his comments are shared internally and with our training department to help improve our company.
We take all feedback seriously, thank you for bringing this issue to our attention. The compliance department devoted many hours and carefully listened to the correspondence between the loan advisor and theborrower. In the end it is the compliance department’s opinion the...
borrower misunderstood the importance of not divulging the other mortgages that were not listed on the borrower’s credit report. Royal United Mortgage does a detail review of every loan before the appraisal is ordered. On this loan the borrower’s obligations were uncovered after the appraisal was performed and delivered to the borrower. It is also the opinion of the compliance department the loan advisor acted in the best interest of the client. Due to the Revdex.com being a public forum we are unable to upload any loan documentation or credit reports. Had the findings shown a different result, a different action would have been taken by Royal United Mortgage. Rest assured her comments are shared internally and with our training department to help improve our company.
Royal United Mortgage is extremely sensitive to the financial needs of its customers. At times requirements and recommendations are construed as resistance and in this case options discussed and recommendations did not align with what this borrower wanted or expected. In its first attempt...
Royal was unable to find an appraisal management company to go locate or go to the property. In the second attempt Mr. [redacted] was able to find an appraisal company that would work with us but the appraisal outcome was completely unacceptable to the borrower. This borrower would have to make significant repairs to the property due to rotting wood trim, soffit and damaged siding. These were underwriting repair conditions that if not completed would not support the value needed for the loan. (PDF attached of requirements)There was never an intent to "trick" the customer. In every loan we make we are responsible to determine the borrower's ability to repay the obligation under Federal Law. When this application was eventually locked the final loan profile required that escrows be included in the loan payment. Mr. [redacted] attempted to reassure the borrower that doing so changes the financial expectations placed on her throughout the year. In addition to the repairs required from the appraisal, including taxes and insurance in the payment was unacceptable. We regret that we could not provide a loan without the requirements dictated by the appraiser and the loan profile. Please be advised that the appraisal company will not reimburse for a completed appraisal. Royal United stands willing to work with the borrower to complete the transaction if she is willing to do the repairs and escrow for her taxes and insurance but at no time would we attempt to trick or mandate unnecessary loan terms. Respectfully, Royal United Mortgage
Thank you for bringing this to our attention. We take all feedback seriously. Royal United Mortgage immediately opened an investigation and listened to all correspondance with the borrower. After Royal reviewed the calls the compliance department found no claims that the loan advisor advised...
the client that the house would appraise at a certain value. Furthermore, Royal United Mortgage recieves our leads from internet aggregate sources where potential clients input their information. Below is the snip it from the lead where Mr. [redacted] indicated the house would appraise at 190,000. Please know that Royal United Mortgage is very sensitive to this topic and would never order an appraisal if we knew the value wouldn’t be supported by an independent HVCC appraiser. Rest assured Mr. [redacted]’s comments will be shared with our training department to help improve our customer service.
The appraisal service was disclosed within 72 hours in writing and verbally of taking a completed application. Which is inside the timing requirements of federal and state regulations. Royal United Mortgage apologizes that the customer was not satisfied with our services; however, all fees were disclosed to the borrower.
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this response/resolution is satisfactory to me.
Regards,
[redacted]
Thank you for the feedback, we take all feedback seriously. The loan advisor that was initially on your account is no longer with our company. However, through notes with our appraisal management company it appears that the borrower cancelled the appraisal and asked to withdraw from the loan....
If there was any miscommunication between the loan advisor and borrower Royal United Mortgage greatly apologizes and would love to continue the process with Miss [redacted]. Please contact our portal on our website and a licensed loan advisor will respond quickly.
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that the response would not resolve my complaint. For your reference, details of the offer I reviewed appear below.
My loan was not denied in June of 2015 as stated be Royal United Mortgage . The removal of the disputes did lower my credit score below the minimum threshold as was expected by myself and Royal United Mortgage . So to counter act this lowering , I worked with my credit card companies by paying them enough to lower my debt ratio to them and raising my credit score . They agreed to inform the credit bureaus immediately of my lower debt ratio so my score would rise back above the minimum . This was done , so my score was raised back above the minimum with in days . Ben M[redacted] and Royal United Mortgage knew this was going to happen . If my loan was was denied in June of 2015 then why was the appraisal even done and how was it done ? The owner of the home or her real estate agent do not remember an appraisal being done or giving anyone keys to an appraiser . I also did not pay for the appraisal until June 15th of 2015 after Ben M[redacted] told me an appraisal would and could not even be scheduled until Royal United Mortgage received payment . June only has 30 days , if I paid on the 15th when was my appraisal done and when was my loan denied ? My appraisal for my home now took more than 2 weeks to schedule and complete , that was in the same state not different states like Indiana and Texas . I do not believe an appraisal was ever done and if one was done then I would like a dated copy of it . When my Real Estate agent requested a copy of the appraisal from Ben M[redacted] at a later date for a different lender she was told that Royal United Mortgage did not have an appraisal . I also do not believe Royal United Mortgage my loan in June of 2015 because I have records of them pulling my reports on 6/12 , 6/22 , 7/10 , 7/19 , 7/21 and 7/23 of 2015 . These were all pulled I believe without my consent . The only report I remember consenting to , was pulled on 4/19/2015 . I also have phone logs of calls between Ben M[redacted] and me from July and August of 2015 . I also have copies of completed forms and information requested by Royal United Mortgage from July and August of 2015 . this would be after June . The many inquiries of my credit report was the only reason my credit score dropped . I was told this by both Transunion and Equifax . I was also told by the company Royal United Mortgage uses to pull credit reports , [redacted] , that this is the most likely reason for the drop in my credit score since I had no late payments nor did I purchase or attempt to purchase anything on credit in that time period . Transunion was the one who told me that if [redacted] sent a letter Granting Authorization with a reason to delete the inquiry , that they would be happy to remove the inquires . Equifax also could remove the inquires but only needed my full name , social security number and file number . I then spoke with [redacted] and was told that they could and would do this if I had these instructions e-mailed to [redacted] / Business Customer service . [redacted] would need a letter from Royal United Mortgage authorizing them to withdraw the inquiries . I was told that [redacted] would send an e-mail to Ben M[redacted] and Royal United Mortgage outlining our conversation and instructions . I also sent an email with the instruction and outlining our conversation along with copies of what was sent to me by Transunion and Equifax . Just as with my attempts to contact Ben M[redacted] by telephone directly or thru voice messages , I never received a reply from Ben M[redacted] . I have documents showing the days the credit inquires were made , the date the money for the appraisal was sent to Royal United Mortgage , the logs of calls made and e-mails sent ( I use Skype ) and copies of documents requested and completed forms requested and returned to Ben M[redacted] . These credit inquiries , e-mails and documents are from July 2015 . If my loan was denied in June then why was this information still being requested in July ? I would at least like my appraisal fee returned since I can not receive anything for the great deal of stress Ben M[redacted] and Royal United Mortgage put me thru while I had to scramble to find a new home . To Royal United Mortgage $395 may not seem like much but to a disabled senior citizen , it is alot of money . I do not know if this was incompetence or a scheme but either way , Royal Mortgage should be ashamed .
Regards,
[redacted]
We take all feedback seriously, thank you for bringing this to our attention. Please accept this as our formal response. It is Royal United Mortgage’s opinion that the loan advisor acted in the best interest of the borrower. After reviewing the information Royal feels that there are many false...
claims to this complaint: the loan advisor didn’t screw up the appraisal, we transferred it from another company as they were dragging their feet with the borrower’s loan and the borrower wanted to switch. Royal United Mortgage could not use the appraisal because of the timing requirements of the bankruptcy didn’t satisfy Fannie Mae guidelines, the closing cost did not change from initial application to when the borrower withdrew from the loan, and the borrower is rolling in the borrowers escrows and FHA premium into his definition of closing costs. Royal receives the borrower’s credit scores directly from the credit bureaus. The borrower thought [redacted] was a more reliable source. Royal did explain this to the borrower multiple times. We regret that Mr. [redacted]’s experience was negative and we are very sensitive to the impact of a first impression. Rest assured his comments are shared internally and with our training department to help improve our company.
Revdex.com:I have reviewed the response made by the business in reference to complaint ID[redacted], and have determined that the response would not resolve my complaint. For your reference, details of the offer I reviewed appear below.
First, United Mortgage at no point said I paid a non-refundable waiver for an appraisal. In fact, the original issue was the amount of untruths including a $495 appraisal that I said I was not going to pay and wanted to void the whole transaction. The only reason I even received a follow up call was because I logged a complaint with the Revdex.com. United lied again saying they would call me back and it should not be a problem with my $200, this was Monday last week, but they never did call me back. This company is outrageous. On Saturday March 19th I received, in the mail, a bill from my home owners insurance company that had United Mortgage as the lender!!! United Mortgage actually sent to my homeowners insurance AFTER I said I wanted out of this fiasco. I have been in the service industry for over 30 years and cannot believe this. I read all the negative reviews via the internet about this company in the last week. It is unbelievable that their business practices are even legal. I hope the Revdex.com can deeper dive into my words and see what is going on. The same guy who is sending you responses is the same guy that lied to me. Such a cover up and a mistreatment to an innocent party. Regards,[redacted]
Thank you for bringing this matter to our attention. The appraisal was canceled on Friday 9/8/2017 due to the fact that we could not move forward with the loan. While we put a lot of effort into getting this loan funded for the borrower, underwriting came across a problem that would not allow us to...
proceed. Royal United is committed to providing excellent customer service and in no way would expect a borrower to pay for a service that was never rendered. A refund was issued Monday 9/11/2017 to the borrower.
We take all feedback seriously, thank you for bringing this to our attention. We have removed all contact information for Mr. [redacted]. Many companies attempt to reach Lending Tree inquiries simultaneously and unfortunately this can lead to multiple calls in a short time frame. We regret that Mr....
[redacted]’s experience was negative and we are very sensitive to the impact of a first impression. Rest assured his comments are shared internally and with our training department to help improve our company.
We take all feedback seriously, thank you for bringing this issue to our attention. The compliance department devoted many hours and carefully listened to the correspondence between the loan advisor and theborrower. In the end it is the compliance department’s opinion the...
borrower misunderstood the importance of not divulging the other mortgages that were not listed on the borrower’s credit report. Royal United Mortgage does a detail review of every loan before the appraisal is ordered. On this loan the borrower’s obligations were uncovered after the appraisal was performed and delivered to the borrower. It is also the opinion of the compliance department the loan advisor acted in the best interest of the client. Due to the Revdex.com being a public forum we are unable to upload any loan documentation or credit reports. Had the findings shown a different result, a different action would have been taken by Royal United Mortgage. Rest assured her comments are shared internally and with our training department to help improve our company.