Side Master Home Improvement

Initial Business Response / [redacted] (1000, 5, 2016/09/26) */ Contact Name and Title: [redacted] , EVP Contact Phone: XXX-XXX-XXXX Contact Email: [redacted] @iabfinancial.com When a mortgage loan is closed in another state, the Mortgage Loan Originator requests a quote for full fees from a title insurance company that has a national presenceThe quote that was received for Mr [redacted] 's loan did not include a title service fee for [redacted] Mr [redacted] felt that he was charged twice for a search fee; however, he was charged for a search fee and a title services feeUpon receipt of this complaint, the iAB Mortgage Loan Originator contacted the title company regarding their lack of inclusion of this title search fee on the customer's quoteThe title company has agreed that they should not have charged the fee and has mailed a check in the amount of [redacted] directly to Mr [redacted] This has been communicated to Mr [redacted] by the iAB Mortgage Loan Originator via telephone and email communication on September 23, Mr [redacted] was asked to let us know when he receives the check so this matter can be closed Initial Consumer Rebuttal / [redacted] (2000, 7, 2016/09/27) */ (The consumer indicated he/she ACCEPTED the response from the business.)

Initial Business Response /* (1000, 5, 2015/05/28) */
Contact Name and Title: [redacted], EVP
Contact Phone: XXX-XXX-XXXX
Contact Email: [redacted]@iabfinancial.com
Our customer conducted a transaction with a retailer where the funds were debited from the account instead of credited. ...

Our customer also conducted two additional transactions with the result on that day of his account being overdrawn. Instead of those transactions being denied, the bank allowed those transactions to occur and charged the customer for the three items in which he had insufficient funds to cover them. The customer did not notify us of this situation. Another party who was not an owner on the account called and asked for information and resolution. We informed him that we could not discuss the customer's account with him since he was not a signer/owner on the account. The customer eventually gave him the authority to discuss the matter with us. At that time we informed him that the customer's transaction activity caused three overdrawn items which the bank covered and subsequently charged the customer 3 overdraft fees (per our account dislosure). The overdrafts were caused before the retailer had the opportunity to finally credit his account. Since the retailer failed to credit the account immediately, we refunded one of the fees charged as a courtesy to our customer. However, there were indeed two additional transactions by the customer which caused the account to be overdrawn.
We have yet to even discuss this matter with the account owner who made these transactions and caused his account to be overdrawn. Had the customer contacted us immediately, we would have followed our normal Reg E procedures to address the incorrect transaction. Since the retailer indeed processed the transaction correctly by the time we were notified, there was provisional credit to our customer required by Reg E.
The overdrafts were not all caused by this incorrect transaction as stated in this complaint. The customer did indeed conduct two additional transactions in which one would still have caused the account to be overdrawn.
OFFER:
Again as a courtesy to our customer and as resolution to this complaint, all overdraft fees for this day's activity have been refunded as of May 27, 2015.

Initial Business Response /* (1000, 5, 2016/09/26) */
Contact Name and Title: [redacted], EVP
Contact Phone: XXX-XXX-XXXX
Contact Email: [redacted]@iabfinancial.com
When a mortgage loan is closed in another state, the Mortgage Loan Originator requests a quote for full fees from a title...

insurance company that has a national presence. The quote that was received for Mr. [redacted]'s loan did not include a title service fee for [redacted] Mr. [redacted] felt that he was charged twice for a search fee; however, he was charged for a search fee and a title services fee. Upon receipt of this complaint, the iAB Mortgage Loan Originator contacted the title company regarding their lack of inclusion of this title search fee on the customer's quote. The title company has agreed that they should not have charged the fee and has mailed a check in the amount of [redacted] directly to Mr. [redacted]. This has been communicated to Mr. [redacted] by the iAB Mortgage Loan Originator via telephone and email communication on September 23, 2016. Mr. [redacted] was asked to let us know when he receives the check so this matter can be closed.
Initial Consumer Rebuttal /* (2000, 7, 2016/09/27) */
(The consumer indicated he/she ACCEPTED the response from the business.)