Summit Funding, Inc.

Dear Ms. [redacted] This is in response to the complaint (ID [redacted]) that you filed with the Revdex.com (“Revdex.com”) on June 24, 2015.   Summit Funding, Inc. (“Summit”) has treated your concerns with the upmost importance by conducting a thorough investigation regarding your claims....

  We regret to hear that the listing agent, or a non-Summit person, allowed you to start moving into the property without the process resulting in a closed loan. Please understand that a “pre-qualification” or “conditional-approval” is an early and critical step in the loan application process.  However, any communication mentioning “pre-qualification” or “conditional-approval” is not a commitment to lend.  Moreover, when an applicant provides documentation requested by the lender, the application process continues until a final decision is made.   In your situation, our Compliance Department confirmed that you signed and returned an Acknowledgement of Intent to Proceed form dated March 12, 2015.  Since the appraisal fee was a necessary risk for all parties involved, as well as a critical step in the loan application process, we respectfully deny your request to reimburse the appraisal fee. If you would like to revisit this matter, please send copies of any documentation to my attention using the fax number or e-mail address provided below.  Thank you.  [redacted]Summit Funding, Inc.[redacted]################

I purchased my home in 2012 after paying my mortgage consistently for five years I called summit funding to request my PMI be removed. The rep informed me to send in a written letter requesting the removal which I did back in July of 2017. After waiting several weeks without a response I called and spoke with a so called supervisor who tells me somehow it was misplaced but she sees it in the system and to please re-submit. I send in a new request it gets denied I call back inquiring to speak to someone in the department that handles PMI and they don'y have phones ( What?) Ok the new rep (#3) tells me that according to the guidelines you need to have 5 years and 78% LTV I say I believe I am well below that so claims I need to have an appraisal done & it must be ordered through them I send in a request ... Nothing... I call again now the rep says no you have to pay the 20,000 to get it down to the 78% or re-finance or sit and wait continuing to pay us.. Their customer service reps and managers are so incompetent they don't even know their own policies. I just wasted 3 months do to this... I will re-finance which I should have done in the first place but I will make it a point not to do so with Summit funding or have my loan serviced through loan care... Horrible

Review: Several mistakes on this mortgage loan. First the appraiser messed up the appraisal stating it was on well and septic. She did not do her due diligence and put the wrong information. We were told that we would close June 13, 2014. That did not happen because of the appraisal goof. We were then told that we would close on Friday June 20th. That did not happen. We were told that they physically could not get out the paperwork dated for the 20th but Monday June 23, 2014. After we were told that we would close and it was cleared to close on Thursday June 19, 2014. You can't run a business like this or play with people's lives on such an important purchase. My settlement company told me this is the second time in 1 week Summit has messed up closing. Spoke with Marco Vegovich from Sacramento, Ca. All he said was he was sorry and it was unacceptable but couldn't do anything.Desired Settlement: MY CLIENT AND I WANT TO CLOSE TODAY JUNE 20, 2014. I WANT SUMMIT TO STAY TRUE TO THEIR WORD AND NOT SAY THEY ARE SORRY AND DONT HAVE THE STAFF. NOT MY PROBLEM!

Business

Response:

First, I sincerely apologize for not responding until today. Please know that I have made multiple attempts on different days and have been unable to locate an account to review in connection with this matter.

More specifically, an account was not located using any of the details provided within the Consumer Information area on the Revdex.com’s Complaint Overview page on-line. For example, the first and last name, address, daytime phone number, and the e-mail address were not found in our system.

I would like to research and respond to the complaint as soon as possible, but need personal or address information that ties to the subject property for the loan. Finding the loan in our system will enable me to request information from individuals that were involved with the loan file and respond quickly.

Ms. [redacted], please provide me with the loan number assigned to your loan file by Summit Funding, Inc. If you are unable to locate the loan number, then please provide me with the complete address of the property that the loan is (or was) for. You can e-mail this information to me or fax it to ###-###-#### which functions as a phone and fax line.

Thank you both for your time and I hope that you had a great and safe 4th of July weekend.

Best Regards,

Compliance Analyst II

Phone & Fax #: ###-###-####

E-mail: [redacted]

Review: On or about October 10, 2013, [redacted] of Summit Funding assured us that he would be able to process our loan in time to close on the purchase of a home by October 30, 2013. Based on this assurance, he required us to obtain an appraisal at the price of $409. In reliance upon his assurance, we incurred the expense of $409. As the weeks progressed, Mr. [redacted] informed us that his underwriter had additional questions and required additional documents. Consequently, we obtained an extension of the closing of escrow until November 8, 2013, despite Mr. [redacted] assurance to his clients (included in the signature lines of his email) of a "30-day on-time closing guarantee-on time, every time...100% of the time." On or about the day of the initial closing, October 30, 2013, Mr. [redacted] informed us that he was 99% certain he would not be able to obtain the loan by the extended closing date. We asked him for a refund of the $409 appraisal fee based on his assurance that he could obtain the loan on time, but Mr. [redacted] refused.Desired Settlement: DesiredSettlementID: Refund

Refund of the appraisal fee of $409

Business

Response:

Dear Revdex.com NECAL,

On 12/4/2013, we received your letter dated 11/26/2013, notifying us of a complaint filed by Ms. [redacted]. Please consider this as our response to the complaint.

Having researched this matter, we respectfully deny Ms. [redacted]'s request for a refund of the $409 appraisal fee for the following reasons:

1) Ms. [redacted] and Mr. [redacted] provided us with an executed "Acknowledgement of Intent to Proceed" Form (signed and dated on 10/11/2013);

2) Mr. [redacted] agreed to the collection of the appraisal fee/charge by providing us with the details for his personal credit card. Put another way, it is not Ms. [redacted]'s credit card that was charged; and

3) Following e-mail exchanges in early November regarding our need for continued attempts to obtain valid tax transcripts, we received an e-mail from Ms. [redacted] on 11/7/2013 @ 11:33 AM stating, "We closed on the property. Please refund us the appraisal fee."

Our understanding is that Ms. [redacted] voluntarily withdrew from the loan process with Summit Funding, Inc. Therefore, refunding the agreed upon and valid expense for the appraisal fee under the circumstances described above would be inappropriate.

Respectfully,

Compliance Analyst

Phone: (916) 692-3706

E-mail: [redacted]@summitfunding.net

Review: They have failed to correct my monthly billing according to what they told me on several occosions and are now charging me more money

I was given a escrow refund check incorrectly. when I found out about it I took steps to repay the money before the deadline of January 1st. I was informed by several people including a couple of supervisors that my payment would stay the same or go down. I was also promised several calls back that I never received. Now I am being told my payment is going up because of their mistakes. they have not expressed this in writing. They only attempted to tell me this verbally the last phone call which was the first returned call I have received.

I have been lied to, mislead and deceived as to what I owe and what I will be paying each and every month.

They have also refused to allow me to speak with the people or person making these mistakes.Desired Settlement: I am seeking to have my mortgage payment be put at the numbers I was told on several Occasions. I would also like to be compensated for my time and energy that I had to focus on contacting them instead of doing my own job. This has caused me stress, anxitey and sleepless nights. I am being made to do their job and forced to spend my working hours dealing with long hold times and being mislead. I would like an additional $3000 as compensation. If they continue to mislead and deceive me then

Business

Response:

On 1/27/2014, I received your second message dated 1/26/2014 regarding this complaint.

In follow-up to my initial update on 1/15/2014, please know and understand that my/our delay in responding is not due to refusal. Summit is gathering information

from sub-servicer LoanCare, which includes the details and information that we (Summit) needs in order to provide a complete and accurate response.

Today, I requested another update from our Servicing Department - they manage and faciliate our requests for information and have direct contact with the sub-servicer.

I am expecting more details and updates pertaining to the borrower's escrow account, as well as the loan's total monthly payment amount, all of which will be included in our response to the borrower's complaint.

I am hopeful to receive enough updates by 2/5/2014, enabling me to deliver a meaningful response to this complaint within 10 calendar days of 1/26/2014. Thank you.

Larry Robinson

Compliance Analyst

[email protected]

Direct Line: 916-692-3706

Review: This complaint is directed toward satellite location in Cincinnati,Ohio. We were interested in refinancing our current home and were recommended to Summit Funding. We were to meet Branch Manager [redacted]. The meeting was scheduled for my lunch hour. The hour was quickly consumed as my wife and myself waited for over 40 minutes after our scheduled time for him to show up. There was no familiarity with us or our house during this meeting,I was not bothered by this but if you are spending 350k and 30 years working with a company you would hope for more effort. We were shown comps of our property and were told due to rates and my credit score that we could expect to lower our cost by 250.00 monthly we were ecstatic. [redacted] was to write up the papers that night and we were closing in 30 days. I call [redacted] the next day and the papers were not completed. I set meeting for the following Monday. I left work Monday and called as I was driving to the office. [redacted] forgot the meeting and I was again rescheduled. Left work early again and waited again in the office for over 30 minutes to be greeted by [redacted]. We scheduled the appraisal again took off work. Went great at first until I was told we don't want him appraising your house and the order was cancelled. I was told he would be off the list in 3 days heard nothing for 3 weeks. Called and pleaded with [redacted] for communication after many calls went unreturned. Second appraisal a month after the original. Again left work this time the address was incorrect and appraiser drove right by my house as I watched him. Rescheduled again. Told report would be done in 3 days took over double the time. After multiple of phone calls not returned left work again and met [redacted] at office. Pleaded for communication. Was mocked by Branch Manager asking if I needed two calls a day until the results came back.Long story short the comp they were banking on was sold in 2009 and unusable. Was to be refunded for appraisal & take 10 day it is day 22.Desired Settlement: I would like to get the promised $350.00 refund for the appraisal. I would have been ok with just that if it had been completed as promised. But after writing the above and realizing I had to use 12 hours of PTO dealing with this, I would like the compensation to include an additional $342.00 of PTO lost dealing with tardiness, cancelled meetings, cancelled appraisals, and pleads for communication.

Business

Response:

[redacted]Text below copied from response letter dated 9/19/2014, which is being sent (with an enclosure) via UPS 2nd Day Air. Tracking #: [redacted]

Dear Mr. [redacted],

Review: After trying to get a loan from another lender, we were forced to look for another lender because of some appraisal issues. The sellers agent suggested we go to Mr. [redacted]. The sellers agent explained to Mr. [redacted] the urgency, that we had our deposit at risk and that we needed to close in two weeks. He agreed to take our loan and promised to give us the best service. According to Mr. [redacted] my husband didn't qualify by himself and that I had to be on the loan. I agreed and he checked my credit and told us we were both qualified. Since the beginning we received nothing but terrible service. He would continuously delay our process and blame it on us. Finally in late July when we were finally going to close we get a call from Mr. [redacted] stating that our loan was declined, that they had to check my credit one more time before we could close the loan. It was strange because he never mentioned it before and he never asked for my permission to check my credit again. He never checked my husbands credit. He gave us the bad news that my credit had dropped 30 points and that we were not going to be able to get the loan. While on the phone Mr. [redacted] told us he was going to refund the appraisal fee $495. After numerous unanswered emails and phone call on September he says he is talking to corporate about our refund and that he is "fighting for it." On September 14 he mails a check for $436 not $495. When I was checking my credit report I find out why my credit had dropped. Mr. [redacted] checked my credit 6 times. All these times they were hard inquiries that affected my credit thus the reason it dropped 30 points. Mr. [redacted] never received my permission to check my credit that many times. This is malpractice from Mr. [redacted] part. I asked him about it and never replied. He just ignored my emails. Not only did we not get the house we wanted, we lost $2000 from the deposit which Mr. [redacted] knew it was at risk, time and money lost, and a bad credit report/score all thanks to Mr. [redacted] malpractice.Desired Settlement: I want a full refund of the appraisal/application fee $495 and I want a refund of $2000 because his malpractice lost us our deposit and compensation for ruining my credit report. I am not able to get financing anywhere because of the bad report Mr. [redacted] left me with. Mr. [redacted] did not have permission to check my credit.

Business

Response:

Dear Ms. [redacted],I am writing in response to the complaint (ID [redacted]) (“Complaint”) that you filed with the Revdex.com (“Revdex.com”) on November 15, 2015. Summit Funding, Inc. (“Summit”) has treated your concerns with the utmost importance by conducting a thorough investigation regarding your Complaint. Summit’s investigation did not reveal any wrongdoing on Summit’s behalf. However, it is my understanding that you were fully reimbursed by the branch for the $495 appraisal fee. Regarding the credit inquiries, all credit inquiries by Summit were authorized. We hope that you are satisfied with the appraisal fee refund and that Summit will have the opportunity in the future to serve your lending needs. Sincerely,Best regards,[redacted]

Consumer

Response:

I am rejecting this response because: the amount we were reimbursed was not $495 check your account in records, please provide proof of the credit authorizations. As they were never authorized.

Business

Response:

Dear Revdex.com NorCal,

We will send the requested documents directly to Ms. [redacted] on 1/25/2016. Thank you.

Best regards,

Summit Funding, Inc.

Compliance Analyst II

Sacramento, CA

Hours: 8:00 a.m. to 4:30 p.m. (Mon. – Fri.)

Phone & Fax #: [redacted]

E-mail: [redacted]

Review: In 2009 Mr. [redacted] got me approved for my first home loan. 2015 he contacted me to refinance my home. I gave him all the information and necessary paperwork he asked of me. Once I did he said I qualified for a 30yr fixed at 3.25%, which would get me out of a FHA loan at 5%. I was happy with the news because my mortgage payments would drop down $200-$250 a month. So I agreed to sign the paperwork. One of the forms I signed I agreed and paid $450 on an appraisal of my home; again because Mr. [redacted] told me I qualified for a 30yr fixed. Mr. [redacted] then did a credit check on me and found a dispute on a couple [redacted] Credit cards he questioned me about. To my knowledge I had only one and he told me I gave him false information, therefore my debt to income ratio caused me not to qualify to refinance. He should've done a credit check before I paid $450 for an appraisal (I don't get back now).Desired Settlement: I would Like a refund of $450 back that I paid for an appraisal on my home only because Mr. [redacted] told me that I QUALIFIED for a 30yr fixed at 3.5%. I was looking to lower my mortgage payments, not throw away money.

Business

Response:

Hello Ms. [redacted],On 7/14/2015, our Accounting Department had me submit a credit card refund request form, which I did, so the $450 will be placed back onto your credit card instead of a check being issued.My understanding is that the refund must be processed this way due to the payment method (credit card).I will continue to follow-up on this until I see that the credit card refund has been processed - I believe it should happen sometime next week. Thank you.Best regards, [redacted]Summit Funding, Inc.Compliance Analyst IISacramento, CAHours: 8:00 a.m. to 4:30 p.m. (Mon. – Fri.)Phone & Fax #: [redacted]E-mail: [redacted]______________________________________________________________________...⇄ brandi[redacted] [mailto:brandi[redacted]] Sent: Friday, July 10, 2015 3:42 PMTo: [redacted]Subject: RE: Complaint ID: [redacted] (Last Name: [redacted]) - No response from the Revdex.com, but moving on... Thank you Mr. [redacted]. I will now have a nice weekend and you too. Sent from my Verizon Wireless 4G LTE smartphone-------- Original message --------From: [redacted] <[redacted]> Date: 07/10/2015 3:31 PM (GMT-08:00) To: [redacted] <[redacted]> Subject: RE: Complaint ID: [redacted] (Last Name: [redacted]) - No response from the Revdex.com, but moving on... Confirming receipt, Ms. [redacted] – I see there’s no change in address.Once I receive the check, I will personally mail it to you from our Corporate office. Thank you and have a great weekend!

Business

Response:

Hello Ms. [redacted],On 7/14/2015, our Accounting Department had me submit a credit card refund request form, which I did, so the $450 will be placed back onto your credit card instead of a check being issued.My understanding is that the refund must be processed this way due to the payment method (credit card).I will continue to follow-up on this until I see that the credit card refund has been processed - I believe it should happen sometime next week. Thank you.Best regards, [redacted]Summit Funding, Inc.Compliance Analyst IISacramento, CAHours: 8:00 a.m. to 4:30 p.m. (Mon. – Fri.)Phone & Fax #: [redacted]E-mail: [redacted]______________________________________________________________________...⇄ brandi[redacted] [mailto:brandi[redacted]] Sent: Friday, July 10, 2015 3:42 PMTo: [redacted]Subject: RE: Complaint ID: [redacted] (Last Name: [redacted]) - No response from the Revdex.com, but moving on... Thank you Mr. [redacted]. I will now have a nice weekend and you too. Sent from my Verizon Wireless 4G LTE smartphone-------- Original message --------From: [redacted] <[redacted]> Date: 07/10/2015 3:31 PM (GMT-08:00) To: [redacted] <[redacted]> Subject: RE: Complaint ID: [redacted] (Last Name: [redacted]) - No response from the Revdex.com, but moving on... Confirming receipt, Ms. [redacted] – I see there’s no change in address.Once I receive the check, I will personally mail it to you from our Corporate office. Thank you and have a great weekend!

Consumer

Response:

I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me.

A check made out to me would be ok although I know I would have been saving a lot more money if I got the 30 year fixed finance like I was told I was getting. Now interest rates have gone back up and I lost out on a low interest rate to refinance. I would never recommend Summit Funding to anyone! Very disappointed and unhappy.It's unfortunate I had to contact the Revdex.com to have this situation handled.Thank you,[redacted]

Consumer

Response:

I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me.

A check made out to me would be ok although I know I would have been saving a lot more money if I got the 30 year fixed finance like I was told I was getting. Now interest rates have gone back up and I lost out on a low interest rate to refinance. I would never recommend Summit Funding to anyone! Very disappointed and unhappy.It's unfortunate I had to contact the Revdex.com to have this situation handled.Thank you,[redacted]

Review: On Nov 1 we made a mortgage payment on Summits online payment center, a 1 time payment and drafted on Nov 3. On Nov 5 I was shopping for our daughters when my debit was declined. I called my wife to check our account & our primary was overdrawn by Summit. That account is linked to my direct deposit and is used for groceries and bills, all funds frozen.We called Loan Servicing and they said it would be fixed - including all fees. We talked to our bank about the overdraft and had to use credit cards, incurring more interest.We gathered info and sent it to our loan officer requesting help. She called back she and said they were able to return the money, we had it Nov 7. When we spoke with Summit Inc we were told my wife made 2 payments or added an additional principal payment. My wife sent a screen shot of the Nov payment showing exactly what our payment was.After work on Nov 7, I went to pick up my wifes pills and my card was declined. We checked and a 3rd draft ($2,716.33) had been deducted, this time they sent a check and we were overdrawn 5 days, no money. Weve worked to reestablish our credit!Through emails and over 57 calls weve spent countless hours working on this, its continued into the holidays, hurting us financially. We were told to make our Nov payment with Decs in 2 checks and send them to CFO Jim Hagen. On Dec 2 we took 2 bank checks for $2,717 to Summit to be sent with a tracking number to Mr Hagen. However, they were only able to copy the checks, so WE sent them USPS certified mail. On Dec 3 at 3:50am we got an email stating Summit received our payment ($2,716.33) and by 10am our account was showing an overdraft our bank then denied. Another email was sent by Summit on Dec 5 at 4:04am saying that a 3rd payment had been taken ($2,716.33). We were told that we must have signed up for auto-draft and had to send proof that we hadnt ever allowed that. We even stated that HAD we signed up, that would have been noted in Nov when the 2nd and 3rd payments were taken.Desired Settlement: I would like the problem fixed for good. For our bank information to be deleted, to receive payment coupons to our actual address (not the address we were renting at before buying the house that we have this loan for) and to be compensated for all of our time and trouble. I can't believe that over two months Summit has been this disruptive to our lives, with the expectations that we drop our lives to fix their screw ups.

Business

Response:

Dear Revdex.com Northeast California,Please know that our office received the initial complaint message on 12/15/2014. On 12/16/2014, our records show that a conference call was held with Mr. [redacted]; wherein, the timeline of events (i.e., payment reversal and reapplication of funds) were explained and Mr. [redacted] seemed to understand what took place.Having received the initial complaint on 12/15, as well as additional information following the conference call on 12/16/2014, please know that I am in the process of responding directly to Mr. [redacted] on or before 12/24/2014. Thank you.Best regards,[redacted]Summit Funding, Inc.Compliance Analyst IISacramento, CAHours: 8:00 a.m. to 4:30 p.m. (Mon. – Fri.)Phone & Fax #: ###-###-####E-mail: [redacted]

Consumer

Response:

Consumer states: They have taken a lot of my time about this case and have not taken responsibility about the double overdraft. I did receive a check for the overdraft. I also have told them to not take anymore funds electronically and I will call back if they do not follow through with this.

Review: Summit Funding was our mortgage broker for the purchase of our first home. Our loan was through [redacted] ([redacted] offers a $3,500 grant for first time home buyers. The grant money can be used to cover any closing costs, with any excess to be applied to the loan balance. Our sales contract included a $4,500 seller closing cost concession. At close, 9/4/15, Summit went over the statement with us and explained that the grant money must be applied to closing costs, leaving the seller to only pay the $1,774 difference. As inexperienced first time home buyers, it was all somewhat confusing and not how we thought it works, but they were the professionals and so we signed all the documents. A few days later we confirmed with [redacted] that Summit was wrong. Summit could have applied our grant money, not only to closing costs, but also to principal balance. The entire $4,500 seller concession should have been applied to closing costs, with the rest covered by our grant. This would have left $2,800 grant money remaining to be applied to our loan balance. Instead, this $2,800 went back to the seller.We contacted Summit, who reiterated that [redacted] funds can only be applied against closing costs. We told them they were wrong and to review the [redacted] rules. Summit then admitted that [redacted] had changed the rules in January 2015 and they were not aware of this change. Then told us we signed the settlement statement so there is nothing they can do. We explained to them that this was unacceptable and they were negligent. We asked them to reimburse us for their mistake. They offered to reduce the loan principle by $2,800, but also wanted us to sign a confidential settlement agreement and have tax liability on the amount of loan reduction. We told them that this is unacceptable. Had they not been negligent, our loan balance would be $2,800 lower, we would not have been signing a confidential settlement agreement, and we would not have any tax liability.Desired Settlement: We would like Summit Funding to correct their error and reimburse us the $2,800 we lost due to their negligence without signing some settlement agreement. We would also like Summit to send us a letter stating the reimbursement will be treated as a non-taxable transaction.

Business

Response:

Dear Revdex.com NorCal,

I have been informed that a mutual agreement was reached and that this matter is considered resolved. My understanding is that Mr. [redacted] will receive a letter and/or documentation under separate cover. Thank you.

Best regards,

Consumer

Response:

I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me.

Review: Summit Funding failed to follow the law

I started the process in May [redacted]. I wanted to purchase a home. I was told by *. [redacted] in [redacted] I was approved for a mortgage loan. I was informed I was approved USDA loan and given an approval letter. Moving forward I found a home, I truly had my heart 8-[redacted]. I was given an approval USDA loan letter. Moving forward. I waited and waited and even completed 2 extensions waiting for Summit to complete my loan. I paid appraisal fee and inspection fee for this home. I completed first time home buyers class to get down payment assistance, which was never submitted to [redacted] by Summit. Moving forward days before my closing and keep in my I started this process in August [redacted]. Days before closing my lender Mr. [redacted] informed me and emailed he had been misinformed on how to process student loans & how to process USDA loans. He quit and told me he would turn my file over to the branch manager in [redacted], [redacted], *. [redacted]. I continued to get the run around and was told and emailed mutiple times, that they had other peoples loans to process. I missed out on the home I worked so hard for. Summit would be dishonest and tell me they would process my loan and until this day the loan was never completed. I asked for a copy of my entire file multiple times and the request was never granted. I requested several times for the owner *. [redacted] to call me back and the call was never returned. I was in contact Summits *P of sales MD. and he informed me the matter would be resolved, but it never was and I missed out on the home I worked so hard for,because of Summits negligence. I have in writing my lender was miss informed and Summit never completed my file. It should have never took almost 3 months to complete my file. I attempted to resolve this matter and spoke with *. [redacted] the assistant to Mr. [redacted], but no final response on the outcome of my request.Desired Settlement: I have put in writing my request to Summit Funding

Business

Response:

This response is in connection with the complaint submitted to the Revdex.com ("Revdex.com") by [redacted] on [redacted], [redacted], Case #: [redacted]. Summit Funding, Inc. ("Summit") received written notice of this complaint by mail from the Revdex.com on **/**/[redacted].

Based on my research of this matter, it appears that a telephone conversation was held on (or around) [redacted] 26, [redacted], between Ms. [redacted] and Ms. [redacted] from Summit Funding, Inc. ("Summit"). The phone conversation may have taken place after Ms. [redacted] submitted this written complaint to the Revdex.com and the call was made to Ms. [redacted] cell phone number ending with [redacted].

My understanding is that Ms. [redacted] spoke with Ms. [redacted] and shared that she was calling on behalf of Mr. [redacted] since he was traveling. During the call, Ms. [redacted] offered apologies and expressed empathy for Ms. [redacted] experience and for not obtaining the home that she was interested in. Ms. [redacted] also clarified that Summit never received the Seller's Affidavit from the Seller, which the [redacted] ("[redacted]") needed. In all fairness and as an attempt to resolve the matter, Ms. [redacted] offered to reimburse the Appraisal Fee and any other inspection fees paid in connection with the loan process. However, when asked about next steps, Ms. [redacted] informed Ms. [redacted] that she will file complaints with various agencies.

Lastly, it is worth noting that Ms. [redacted] received a letter stating, in part, that she was "pre-approved to purchase a home." The word/term "approved" is not used in the letter.

To Ms. [redacted], please confirm whether you will accept a refund of the Appraisal Fee and other inspection-related fees, if any. Thank you.

Respectfully,

Compliance Analyst

Consumer

Response:

Review: 9871824

I am rejecting this response because:

Summit handled my loan very carelessly without any regards to making their wrongs right. I requested the owner call me numerous times before I lost out on the home, I had under contract and Mr. [redacted] never would call me. He is aware of what happened and fails to resolve consumers issues. Due to negligence and incompetent employees working for Summit Funding, consumers are effected. I'm very disappointed that Mr. [redacted] doesn't care enough to return my calls. My original lender [redacted] informed that he was misinformed how to process loans per rural and student loans with he put in writing, along with my first time home buyer certificate that was never submitted. I will move forward with my negligence claims, because Summit Funding as a whole eill not cooperate with assiting me and correcting their negligence. I tried to work with Summit several months patiently to complete my file before I lost the home, because of Summits negligence and was told after I waited several months I was told by *. [redacted] they had other loans to complete, which was emailed to me several times. No consumer should be treated this way. I have focuments supporting my complaints.

Sincerely,

Review: [redacted] started this loan process with us, to purchase our dream home, a returning vet from overseas my credit needed to be bulit up with employer for two years the process started in october of 2014 and ended over easter weekend of 2015 when we recieved paperwork of a denial for our loan. the cost for this through [redacted] sipe was outrages, they apprasier put it was a spring when he clearly new it was a pond, which lend to all kinds of water tests which cost money and the fha which is what [redacted] told us we would be getting the loan from doesnt allow ponds only with a waiver. I was laid off in feb 2015 and they made a huge issue of this when they new I was a seasonal employee, and we also recieved a alert on our credit scores that a summit funding ran a credit check without our permission. We didnt no who these people were ??? and I called and asked who they were thought it was [redacted] or [redacted]. [redacted] said no you two are still with ace, put the paperwork we got was for summit funding, said they were going to do the loan the other lender taking to long. We at this point after spending tyme and money 500.00 for the mis represented pond for a documented springon the apprasial, surveyors water testing and alot of unnecassary grief over the course of 7 months we did not get the home lots of mis communication unansweared calls texes emails not just to us but from the realtor and home owner, who we we all told this loan was going to happen, and with heavy hearts was told by mail over easter weekend that we were not going to get our home just 1 week shy of all the 6 months of redos to start over again I would not recommend this company to anyone.Desired Settlement: we would like to be compensated for all the costs to us for this loan which is in the range of 1,500 there is no compensation big enough to cover a hopeful dream of being home owners, after you have been lead to believe, all is well and its going to happen, and you recieve a single piece of mail that devastates that hope thank u [redacted]

Business

Response:

Dear Mr. [redacted] and Ms. [redacted], This is in response to the complaint (ID [redacted]) that you filed with the Revdex.com (“Revdex.com”) on May 27, 2015. Summit Funding, Inc. (“Summit”) has treated your concerns with the upmost importance by conducting a thorough investigation regarding your claims. While investigating your complaint, Summit’s Compliance Department discovered that you were not charged an appraisal fee. Accordingly, it is Summit’s understanding that an appraisal was not ordered in relation to your loan application. As such, Summit will not consider reimbursement of this cost at this time. If you would like to provide a copy of your appraisal along with proof of payment of the appraisal invoice, please do so by using the email address or fax number provided below. Thank you. Best regards, [redacted]Summit Funding, Inc.Compliance Analyst IISacramento, CAHours: 8:00 a.m. to 4:30 p.m. (Mon. – Fri.)Phone & Fax #: [redacted]E-mail[redacted]