United Financial Insurance Group, LLC

Heather ***,I would like to respond to the complaint ID# *** made by Mr*** ***(Customer) with the Revdex.comCustomer first contacted our company on October 25“, anddid not contact us or make a purchase of service on 10/3/2017, as stated in his complaint.Customer also indicates in
his complaint that the Problem Occurred on 10/5/Once again,our records show that Customer did not ever contact our office until 10/25/2017.Customer first contacted our office and spoke with a loan officer on 10/25/at 2:00pm EDT.Customer, was seeking a commercial loan for the purchase and investment of homes in thearea of *** ***Client was requesting a loan of $1,650,Upon review ofinformation and documents provided by Customer, United Financial, on October 26"‘, 2017, didissue a letter of interest to Customer outlining a potential loan and listing parameters underwhich a loan would be offered(attached) At that time, United Financial also submitted toCustomer our Fee Agreement (attached) Both the Letter of Interest and Fee Agreement held anexpiration date of November 3"’ , 2017.The Fee agreement provided clearly states in paragraph 3(b) that the Underwriting/PacakgingFee of $4,is not refundable should the Customer wish to engage."bClient agrees to provide a nonrefundable Underwriting/Packaging fee of $ 4,toUFIG prior to any consulting work performedThis fee will cover initial costs for preparing the clientsloan request and submission to UFIG's investor contact base.”Customer's loan officer had taken a scheduled vacation on October 28"‘ and did not return towork until November 10th, The Loan Officer on October 30*“, did inform Customerthat she was on vacationWhile Customer's loan officer was on vacation, the Customerengaged United Financial to underwrite and secure the requested loan on November 2'“, 2017.A second loan officer covering for the vacationing loan officer covered her desk while she wason vacationThe second loan officer began processing Customer's loan file on Friday,November 3"’At this time preliminary processing and requests of documents from Customerwere made by the covering loan officerShe also researched the per unit price for appraisals tobe ordered on the subject properties and began analyzing the historic financial performance ofthe portfolio.Customers loan officer returned to work on Friday November 10th‘ At this time Customerinformed his loan officer that he had to close on the loan by December 1“, Keep in mindthat Customer had executed the Purchase/Sales Agreement with the seller on September 8*‘,Had United Financial been informed that the Customer was on such a short timeline andgiven the holiday season quickly approaching, United Financial would have not engaged thisloan requestWe informed Customer that it was unlikely we would be able to have his loanapproved and funded by December 15‘, but would do our best in meeting his deadline.The closing of this loan required that we underwrite separate investment propertiesscattered around the *** *** Metropolitan AreaThese are older homes in variousstates of condition, some rented, some vacant and some under repairCustomer is an out ofstate buyer living in *** *** which added to the complexity of the underwriting process.Each of these homes would require an appraisal to be performed, and environmental reportand inspection to be made.The underwriting of the file required that the Customer was to provide proof of funds to closeand that the historical analysis of the properties financially support the loan requestedThesecond loan officer filing in for the officer on vacation, requested proof of funds to close onNovember 7"‘ and began asking questions regarding certain line item expenses of the financials.On November 7*“, we were informed that the seller of the properties had a number of legalissues concerning the properties over the past few years which cause a very high expense forlegal fees reportedWe were also informed that tenants for a number of properties were notpaying their water billsThese unpaid water bills were rolled into the property taxes whichthen becomes the obligation to the property ownerThis along with other factors in the reviewof the financials caused for an extremely tight debt service ratio in qualifying the loan forapproval with our investorsThe second loan officer spent a good deal of time during thisweek, working with the Customer, the representative of the seller, appraisers, and ourinvestorsFrom my review of United Financials' phone records and emails traded with theCustomer and related parties, I do not find any lack of communication as charged in Customerscomplaint with the Revdex.comBetween engagement on November 2"d throughout the absence ofthe Customer's loan officer, the second loan officer did an outstanding job at communicatingwith the Customer and processing of the loan requestWe will be happy to provide emails andphone records supporting such.Upon return from her vacation, the original loan officer informed the Customer of where westood in the loan process and that since the original Purchase/Sales agreement expired on10/20/2017, prior to our engagement, would he consider a bridge loan to meet his newdeadline of December 1“She also informed Customer, that a closing most likely would nottake place until the end of the year for a conventional loan being that appraisals are taking 30-to-days to completeAgain, at this time, she requested proof of funds to close along withother supporting documents.Yet again, I have reviewed emails and phone records of the loan officer for the week ofNovember 12"‘ thru the 18"‘, with Customer and related partiesI have found that she wasperforming her duties as expectedIn a review of the phone logs, I noted that the Customer didmake numerous calls into the office, in fact, to the point that one could consider the frequencyand number of calls made as being a harassment of the loan officerOn November 20th,between 2:and 4:38pm the Customer called and emailed the loan officer times in thistwo-hour periodThe loan officer was attending a closing and not available to take theCustomers calls at this timeAt 4:22pm, the loan officer did email Customer that she wasdriving back to the office from a closing and would call him at 7:00pm.The loan officer did place a call to the Customer at 7:00pm as promised however, there was noanswer nor a returned callOn November 21“ at 2.54am, the Customer sent an email to loanofficer requesting the she terminate the processing of his loan requestThe loan officerhowever decided to continue her efforts in processing the loan request with our investors anddid have communication with Customer advising such.On November 30th, Customer emailed loan officer that he demanded a refund of TheUnderwriting/Packaging FeeOn December 1“, 2017, loan officer emailed Customer that theUnderwriting/Packaging Fee was non-refundable and stated in the Letter of Interest and FeeAgreement.On December 7"‘, loan officer received another email from Customer again demanding arefundThe loan officer shared the email with me and I request her to set up a call with theCustomer so that I could consider his side of the storyThe loan officer scheduled a call withCustomer and myself for December 12th at 1:00pm ESTCustomer emailed confirmation of thecall on December 11"‘ 1:23pm.On December 12"‘ at 1:00pm, I did place a call to Customer at the number providedThere wasno answerI waited and called again twiceI then sent an email to Customer asking if hewould like to reschedule the call for latter of tomorrow.Customer did call me back later on December 12"“He again requested a refundI pointed outthat payment of the Underwriting/Packaging Fee was not refundable as stated in the FeeAgreementAfter listening to his side of the story, I told him that I would look into theprocessing of his loan request and that if I found reason, I would make an exception and issue arefundHe was thankful that I had taken the time to listen to him and we scheduled a followup call for December13th at 1:00pmDuring this call I inquired as to the status of his loanrequest as I still would like to have his loan fundedCustomer advised that he was alreadyworking with another lender, that he had a loan commitment in hand and that he would beclosing on the loan in three daysI was surprised to hear this, as I have been in the industry foryearsA loan request this complex does not close in a weeks’ timeI immediately told theCustomer that if he sent me a copy of the loan commitment, I would be happy to issue arefundHe advised that he would email me a copy of the commitment that dayWe endedthe call agreeing that we would hold to the previously scheduled call the next day at 1:00pm.I received an email on December 13"“ canceling our scheduled call.Since I have been notified that Customer had contacted the Revdex.com, his private attorney and the*** *** *** ***, I will no longer communicate directly with Customer butthrough the channels he has selected.The Fee Agreement which was accepted and signed by the Customer in paragraph (8) providesfor the resolution of disputesUntied Financial is willing to enter into Arbitration of the matterat any time."Arbitration of Disgutes: The parties hereby agree to submit any dispute or controversy, at lawor in equity, to arbitration under the Commercial Arbitration Rules of the American ArbitrationAssociationSaid dispute shall be heard in the *** ** *** ** *** *** **
*** The prevailing party shall be entitled to legal costs, arbitration costs and arbitrator'sfeesAttorney's fees shall not be awardedJudgment upon the award rendered by the arbitrator maybe entered in any court having jurisdiction thereof’Sincerely,James * L***Managing DirectorUnited Financial Insurance Group, LLC