Synergy One Lending Inc

Ms***:
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This email responds to the complaint No*** lodged by Mr*** with the Revdex.com regarding his September 30, loan application with Synergy One Lending, Inc. (“Synergy”) Mr*** noted during the processing of his application that it had taken longer than expected to obtain his residential appraisal report. Mr***’s property is located in the State of Maine. The appraisal report was delayed because of simply locating appraisers in in sparsely populated Maine, and then finding one willing to travel to a particular site. Synergy has no control over this geographically driven process
Mr*** also complained about the fee associated with his appraisal, believing that it was too high and that the appraisal management company should not have charged a fee at all. Due to regulations designed to prevent undue influence over appraisers and the values of properties, lenders commonly use an appraisal management company to manage the appraisal process and erect a protective wall between the appraiser and any unauthorized personnel of the lender. A fee is always charged for this service. However, because of Mr***’s continual complaining, we convinced the appraisal management company to waive their legitimately owed fee
Lenders and subsequent purchasers of loans in the secondary market prefer that borrowers establish escrow accounts for tax and insurance payments to make sure the payments are timely made and do not jeopardize their interest in the property securing their loan. Consequently, lenders are charged a fee by loan purchasers for loans with no escrow accounts and lenders pass that fee along to the borrowers because the borrower decides whether or not to have such an account. In Mr***’s case, the loan application initially provided for an escrow. When Mr*** wanted to change the application to eliminate the escrow, Synergy added a standard fee to the loan we hoped to close. Because of Mr***’s unyielding complaints, Synergy waived this fee
When borrowers choose an interest rate for a loan and want to insure that the rate will be available at the time of closing, they “lock” the interest rate. Rate locks are valid for a particular period of time. If, at the expiration of a rate lock, interest rates have increased, borrowers will incur an additional cost to extend the rate lock because the lender is now guaranteeing a rate that is below the market price. In Mr***’s case, his rate lock expired and in order to avoid withdrawal of the loan by Mr***, Synergy again capitulated and waived the rate lock extension fee
In spite of Synergy’s efforts to meet Mr***’s demands regarding his loan, Mr*** decided to withdraw his loan application. Now Mr*** seeks reimbursement of his appraisal report fee which Synergy has passed on to the appraiser for the work performed on Mr***’s behalf. I have attached a copy of the appraisal report for your convenience. Mr*** states that the other lender he chose would not accept appraisal he paid for through Synergy. Whether or not another lender decides to accept or not accept an appraisal is completely out of Synergy’s control. There is no basis for Mr***s reimbursement demand. Synergy has concluded that it has gone above and beyond standard borrower expectations in attempting to serve Mr***. On these basis, Synergy has determined that it will not reimburse Mr*** for the cost of the appraisal report
Thank you for your consideration of this response
*** ***
Synergy One Lending, IncRetirement Funding Solutions

Ms. [redacted]: This email responds to the complaint No. [redacted] lodged by Mr. [redacted] with the Revdex.com regarding his September 30, 2015 loan application with Synergy One Lending, Inc.  (“Synergy”).  Mr. [redacted] noted during the processing of his application that it had taken...

longer than expected to obtain his residential appraisal report.  Mr. [redacted]’s property is located in the State of Maine.  The appraisal report was delayed because of simply locating appraisers in in sparsely populated Maine, and then finding one willing to travel to a particular site.  Synergy has no control over this geographically driven process. Mr. [redacted] also complained about the fee associated with his appraisal, believing that it was too high and that the appraisal management company should not have charged a fee at all.  Due to regulations designed to prevent undue influence over appraisers and the values of properties, lenders commonly use an appraisal management company to manage the appraisal process and erect a protective wall between the appraiser and any unauthorized personnel of the lender.  A fee is always charged for this service.  However, because of Mr. [redacted]’s continual complaining, we convinced the appraisal management company to waive their legitimately owed fee. Lenders and subsequent purchasers of loans in the secondary market prefer that borrowers establish escrow accounts for tax and insurance payments to make sure the payments are timely made and do not jeopardize their interest in the property securing their loan.  Consequently, lenders are charged a fee by loan purchasers for loans with no escrow accounts and lenders pass that fee along to the borrowers because the borrower decides whether or not to have such an account.  In Mr. [redacted]’s case, the loan application initially provided for an escrow.  When Mr. [redacted] wanted to change the application to eliminate the escrow, Synergy added a standard fee to the loan we hoped to close.  Because of Mr. [redacted]’s unyielding complaints, Synergy waived this fee. When borrowers choose an interest rate for a loan and want to insure that the rate will be available at the time of closing, they “lock” the interest rate.  Rate locks are valid for a particular period of time.  If, at the expiration of a rate lock, interest rates have increased, borrowers will incur an additional cost to extend the rate lock because the lender is now guaranteeing a rate that is below the market price.  In Mr. [redacted]’s case, his rate lock expired and in order to avoid withdrawal of the loan by Mr. [redacted], Synergy again capitulated and waived the rate lock extension fee. In spite of Synergy’s efforts to meet Mr. [redacted]’s demands regarding his loan, Mr. [redacted] decided to withdraw his loan application.  Now Mr. [redacted] seeks reimbursement of his appraisal report fee which Synergy has passed on to the appraiser for the work performed on Mr. [redacted]’s behalf.  I have attached a copy of the appraisal report for your convenience.  Mr. [redacted] states that the other lender he chose would not accept appraisal he paid for through Synergy.  Whether or not another lender decides to accept or not accept an appraisal is completely out of Synergy’s control.  There is no basis for Mr. [redacted]s reimbursement demand.  Synergy has concluded that it has gone above and beyond standard borrower expectations in attempting to serve Mr. [redacted].  On these basis, Synergy has determined that it will not reimburse Mr. [redacted] for the cost of the appraisal report. Thank you for your consideration of this response. 
[redacted]Synergy One Lending, Inc.Retirement Funding Solutions