Visio Lending

Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and find that this resolution is satisfactory to me Regards, [redacted] ***

This is not a customer service or similar complaint. Mr*** is not a consumer. This is a business to business transaction. Mr*** is a real estate investor and is behind on mortgage payments related to one of his investment properties. He has a history of late
payments. We are under no contractual or legal obligation to offer him a loan modification or repayment plan

The borrower brought up this issue to MBank (Visio Financial's servicer) on 2/2/The problem was rectified on 2/9/Below are transcripts of the emails sent to the borrower confirming that renewal provisions in his loan have been fixedAttached is the full history
of correspondence between the borrower and MBank.sent email to borr (2/9/16)Mr ***,I have reviewed the loan documents and your Note and have verified this loan should be in our system as a year fixed interest, no renewal loan I have requested my Operations dept correct this and reverse the renewal that was done recently and adjust the monthly payment accordingly I will email you again once the changes have been made to your account.Thank yousent email to borr: (2/9/16)Mr ***, Please note that we have updated your account to reflect there is no renewal provisions in the Note terms and we have reversed the renewal that was recently processed The 2/15/payment amount due is $952.37.Thank you

Complaint: ***
I am rejecting this response because: I was offered a repayment plan initially and I submitted it, Clearsprings will not allow me to make payments
Regards,
*** ***

Mr. [redacted] was pre-qualified for a loan based on his initial credit profile and property assessment. He paid the $199 application fee for both loans for a total of $398. He then (as is our typical process) paid to receive appraisals through a third party. The customer was told that once these...

appraisals came back, they were his to keep. This is what has happened. He has ownership of those appraisals, and is free to use them to go to any other lender. After further review of these appraisals and Mr. [redacted]'s personal credit profile, it became clear that these loans would fall outside of our guidelines and would need to go to an exception committee. The guidelines and process were not altered in any way for Mr. [redacted]. This is the same process followed on each loan application we receive. Mr. [redacted]'s loans were not denied or canceled as he claims. In fact, they were approved after the further review of the properties, however they were approved at a lower loan amount than originally requested. For each loan that we close, we take into account third-party appraisals as well as our own internal valuation. It was during this stage of the process that we found that the properties had significant deferred maintenance, which is why his loan approval amount was decreased. At the time of his complaint, Mr. [redacted]'s loans had been approved by underwriting for a lower loan amount and were ready to close. Mr. [redacted] claims this his race and location were taken into account in the approval of his loan for a different amount, which is not the case. Race, ethnicity, sex, gender, nationality or religious affiliation are not a factor in any of our loan approvals.He claims to have spoken with our CEO, which he did not. He spoke with his account executive and never did he ask for the refund that he claims is being denied him. We will refund his two application fees ($398) based upon our loan approval amount being lower than was originally requested. Additionally, he will keep the appraisals paid for and completed by a third party.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.
Regards,
[redacted]