• Report: #221303

Complaint Review: Aapex Mortgage

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  • Submitted: Sun, November 19, 2006
  • Updated: Mon, June 11, 2007

  • Reported By:Chicago Illinois
Aapex Mortgage
801 W Bloomingdale Ave Brandon, Florida U.S.A.

Aapex Mortgage And Starlite Funding Deceptive Practices ripoff Brandon Florida

*Author of original report: Aapex/ Starlite funding - proof in paperwork

*UPDATE EX-employee responds: Slander?liable?

*Author of original report: More Clarifications

*Consumer Comment: Just one more question Brenda

*Consumer Comment: Brenda lets talk about slander

*REBUTTAL Individual responds: Apex?

*Author of original report: Lines of Positive Credit

*Author of original report: The Lies Continue

*Consumer Comment: " Processor response a bit harsh"

*UPDATE Employee: Response. to Mrs Zannetha's Complaint

*UPDATE Employee: Response. to Mrs Zannetha's Complaint

*UPDATE Employee: Response. to Mrs Zannetha's Complaint

*UPDATE Employee: Response. to Mrs Zannetha's Complaint

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Ms. Brenda Ramsey of Starlite Funding/ Aapex Mortgage informed me that I was eligible for a mortgage after she pulled my credit report and requested a $450.00 application fee for the appraisal and processing, etc. She emailed the application 3 times before it had the correct amount of the loan listed. It was grossly overstated the previous times. After she recieved the fee, she forwarded my application to another individual and told me she couldn't do the loan due to the information on my credit report. She cited mortgage lates as the casue. The late payments on my credit report were the same before and after I provided the application fee. Therefore, if the mortgage lates were the cause, then she should have denied me before acceptance of the application fee.

Although the application stated Aapex Mortgage, Ms. Ramsey's correspondence was under the name of Starlite Funding. Therefore, I didn't find any problems with the company when I performed the initial search on the company.

Zannetha
Chicago, Illinois
U.S.A.

This report was posted on Ripoff Report on 11/19/2006 10:08 AM and is a permanent record located here: http://www.ripoffreport.com/r/Aapex-Mortgage/Brandon-Florida-33511/Aapex-Mortgage-And-Starlite-Funding-Deceptive-Practices-ripoff-Brandon-Florida-221303. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
0Author 12Consumer 1Employee/Owner
Updates & Rebuttals

#1 Author of original report

Aapex/ Starlite funding - proof in paperwork

AUTHOR: Zannetha - (U.S.A.)

This is response to "R's" comments. I did not make any false claims in my reports. The BBB case was closed after I made the comments on this website. Please follow the dates. It is quite a coincindence that I did not receive a response until after I responded on this board that she never responded to my BBB complaint. If it wasn't for this board, she would have never responded.

I agree that the proof is in the paperwork. I saved the emails that was sent to me. This includes the email with starlitefunding as the company and one of the documents (the Good Faith Estimate) has Aapex mortgage on the Good Faith Estimate. In addition, if Starlite Funding is not a part of Aapex Mortgage, then why did they respond to my BBB request. The BBB complaint was against Aapex mortgage, not Starlite Funding.

I also did not make any false claims during the application process. If she pulled the credit report as she initially indicated, then there shouldn't have been any suprises. I was straightforward throughout the process.

I am not complaining about being denied for a loan. That happens to people everyday and this is not an E-tantrum. The purpose of this post is to warn other people about Starlite Funding/ Aapex Mortgage. Quite frankly I really hate putting my personal business out on the internet, but if it saves one person from making the same mistake, then it is worth it.

I shall repeat again that Ms. Ramsey informed me that she pulled my credit. In an email sent to me on July 20, 2006, she stated the following; "Ok Your credit is fine and it has met the requirements for 100% Financing but will determine after the review of the Documentation listed on the Attachment." Please understand that I did not request 100% financing. I have a signed contract between me and seller to prove it. After she received my money, the analysis of my credit changed. If Ms. Ramsey was not supposed to pull my credit, that is not my fault. Either she lied about pulling my credit initially or she knew she couldn't do all along and just wanted the money.

In a nutshell, this is a warning for others.

One more thing, why didn't you include your name in the rebuttal.
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#2 UPDATE EX-employee responds

Slander?liable?

AUTHOR: R - (U.S.A.)

The proof is in the paperwork.
Anything with a person's signature over powers their accusations
if you chose to get a certain type of loan and claim to have chose a different loan and where not able to live up to your claims credit wise it is not best suggested that you make false claims on the internet or anywhere, especially if there is proof otherwise.
I would really suggest you remove this post before you cause anymore damage to the company or it's owner.

seeing the link that you posted to BBB, it shows that your claim is now closed. and that is proof that your claims where false, seeing that slf inc is still running strong and that you are the one and only claim of misdoings. Consider this and kind suggestion.
I am sure that many people are sympathetic to your pains of not qualifying for a loan that was out of your reach, but that really is only one person's fault.
As stated by the person who quoted that Brenda is not capable of checking your credit but is capable of submitting your request and returning the outcome, that is not a wrong doing. That is just doing her part.
From what I see , Starlite funding has been around for a long while and is not part of the company you claim. and seeing there is just this one report, your accusations fall short of proving any wrong doing.
It might be best to just delete the post in all and face that you could not live up to your part and just threw an E-Tantrum.
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#3 Author of original report

More Clarifications

AUTHOR: Zannetha - (U.S.A.)

THE BBB NEVER RECEIVED A RESPONSE TO MY COMPLAINT. Here is a link to my specific case and evidence of the numerous times that they contacted you to resolve the issue, but you didn't respond. If you go to the website, press "more" adjacent to the credit status area. http://66.255.18.66/complaint/view/67068105/c/s1f54s#

___________________________________

The application provided to me stated Aapex mortgage on it, not Starlight Funding. I still have the application that was emailed to me.

__________________________



I did not request a 100% mortgage. I requested a 85% mortgage. In addition, I was specifically told my credit was fine. Refer to the correspondence below for additional details. The following statements are excerpts cut and pasted from the email sent to me. They are word for word.

From email correspondence from Brenda, I was told the following:

7/20/2006 ----________________________
"Ok Your credit is fine and it has met the requirements for 100% Financing but will determine after the review of the Documentation listed on the Attachment

Please Fill in ALL the Blanks please do not leave anything out.

There is 2 attachments

1 Is the Documentation List that I will need in order to close your loan the 2nd is the Complete Loan Application Please fill in EVERYTHING

I will need you to overnight the originals
and the Packaging Fee to the Address Listed on the Check List .

Your Closing Costs Based on what you stated to me will be in the $600.00 Range.
I will need your Title Companies Name Number and Address
Insurance Companies Name Number and Address
And the Appraisal Companies Name Number and Address


7/23/2006 --------------------
Brenda,

Please review and modify the paperwork. The puchase price is $109,000. The seller will carry 15% of the mortgage and therefore, the remaining mortage balance is $92,650.00.

"Z"

__________________________________


I would also like to add that she revised the application 3 times before she could get everything right. I also didn't request a hard money loan.
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#4 Consumer Comment

Just one more question Brenda

AUTHOR: Charlene - (U.S.A.)

You state she came to you with a Hard money request, it appears from your own statement that you after finding out she didn't qualify for a conventional ( regular is so non-professional) you said you were left to " hit the hard markets". You never did quite answer why a processor is asking qualifying questions, if you have been in the business any length of time, you know that many states especially Chicago, Illinois, where this woman is apparently posting from has some of the strictest loan originator laws in the country. I am sure that our DRE would not approve of a processor asking qualifying questions or running a consumers credit report. In fact I know they would not be pleased.

You told me to look up Mortgage law or something to that effect, I know if your not license in Illinois, you can get your panties in a wringer even talking to a customer, you need a background check just to telemarket in Illinois.

You also mention in your first response to Ms Z that this was a " flip property". I would ask thatyou cite where you find that flip properties are legal in Illinois in this day and year and or for that matter what state do you know of that allows flipping?

Just as a side note, Cook County is making it almost impossible for Brokers to broker any loans, I suggest you read up on the HB3050 that includes the entire Cook County area, and no longer for subprime borrowers in specific zip codes, HB4050 is for everyone.
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#5 Consumer Comment

Brenda lets talk about slander

AUTHOR: Charlene - (U.S.A.)

In your rebuttal to Ms Z, YOU took the time to inform everyone and anyone about what you thought of her credit, YOU are the one that said she had no money, YOU said you asked qualifying questions, yet you claim to be a mortgage processor, you can fool some people all of the time, you can intimidate some people all of the time, you don't intimidate me, I see you what you really are.. you couldn't make a quick buck on the woman, so you felt the need to tell the world what a " loser" she was in your eyes.. great job!
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#6 REBUTTAL Individual responds

Apex?

AUTHOR: Brenda - (U.S.A.)

To answer your question,

When you are working on Mortgages, some states say you can not obtain an Application Fee. And Some States say you can. It all depends on the states regulations

However, the Client is responsible for paying their own Appraisals we can not roll this fee into closing. This must be paid in advance from the client.

I believe you are Mixing up the Two companies in your Argument. Which I will be more than happy to go over.

Development You are Mixing Up Traditional Mortgages with Private Placement/ Hard Money & Equity Investments

If you have questions pertaining to Mortgage Laws, Please visit your local Law Enforcement and research the MORTGAGE BROKER REGULATIONS page

And since, Apex Mortgage and Starlite Funding are 2 Separate Entities One side of the company is Mortgage, the Other is Private Funding for Commercial Use. We deal with Private Funding for Projects from 3 Million and Above
( Which is Our Primary Focus)

As For Private Placement your are asking a Private Individual for funding ( Private Investors) . These are Investors that require the clients to pay a not only a Commitment Fee but also to pay for their own Due Diligence.

Please Remember the client Asking us to do a service for them, which we did, and I believe you are Mixing Mortgages with PRIVATE PLACEMENT.

When you are dealing with Private Funding, you can request a Retainer. It is up to the client to decide if they want to move forward, which is not illegal. That is the clients choice to move forward.

We Do NOT charge for Conventional Mortgages. So I believe you were miss lead. She is apparently making you believe that she applied for a Straight Loan through a Local Bank, which is not the facts.

If you took this aggressive, I apologize, your are slandering Starlite Funding Inc. with out cause.

Mrs. Mosss came to us for a Hard Money Private Funding Request. When I could not place her Project I referred her to a MORTGAGE BROKER in the State that she was trying to Purchase the Investment in.

She could have simply picked up the phone and contacted us, our number has been the same for the Last 2 Years

Instead, I was sent a e-mail blast from one of my associates, stating she filed a Complaint on this site I immediately contacted this group, like 6 Months ago when the Investor she was trying to purchase the Investment from called me and stated she filled a complaint with the BBB. Which at that time I contacted them immediately. We left our information and never received a call back.

Please Note: This Company is Not Apex, even though we are affiliated with them and we do have the capabilities of closing traditional mortgages.

We ARE A PRIVATE PLACEMENT COMPANY.

This client came to Starlite Funding Inc. with a HARD MONEY PRIVATE PLACEMENT LOAN REQUEST.

She is convincing you that her Complaint is Traditional Mortgage. Which is NOT THE Facts.
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#7 Author of original report

Lines of Positive Credit

AUTHOR: Zannetha - (U.S.A.)

In addition to the above, I have multiple lines of positive credit. This lady is full of lies. Trust her if you want, but all I have to say is good luck.

I have proof that I am willing to send. Does she?
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#8 Author of original report

The Lies Continue

AUTHOR: Zannetha - (U.S.A.)

Brenda,

The lies continue. As proof that you promised me a loan, I am willing to submit the documentation that you provided to me with the terms of the loan that you promised. Anyone who would like a copy, please feel free to email me directly at z3000zee@yahoo.com When I spoke to you I was clear on my credit situation. At the time it was not good and I informed you about it. In addition, my score was never below 500. I only agreed to fee after you said you pulled my credit and after you said that you could do the loan.

I can pay my bills. I have multiple credit cards, I have mortgages from Citibank, Washington Mutual, and Wells Fargo. I also had other mortgages that I paid off from ABN AMRO and Guaranty Bank. I have credit cards from National City, American Express, and Chase Mortgage. These are reputable companies. Your company is not.

In addition to this response, why didn't you provide a response to my complaint on the BBB website. Here is a link to my specific case and evidence of the numerous times that they contacted you to resolve the issue, but you didn't respond. If you go to the website, press more adjacent to the credit status area. http://66.255.18.66/complaint/view/67068105/c/s1f54s#


A simple search of the BBB website shows that your company has numerous complaints against AApex. Their are multiple complaints on the website for AApex mortgage. Yes, companies will receive complaints, but most try to resolve them. You will not necessarily find this many either unresolved/ unsatisfactorily resolved complaints for other companies. And quite a few of the complaints are for your specific branch (Brandon, FL).

The BBB website has stated the following about AAPEX mortgage

"Based on BBB files, this company has an unsatisfactory record."

It is true that you can't please them all. But for such a small company, your company can't please a lot of people.

Here is the link to the company report on the BBB website: http://www.bbbwestflorida.org/commonreport.html?bid=6019364

Here is the link to the listings of the AApex mortgage branches in Florida. Almost all of them have the same complaints.
http://search.bbb.org/Results.aspx?n=aapex&add=&c=&st=FL&z=

In your rebuttal, please abstain from the character assasination and slanderous comments and stick to the facts. I have used non-slanderous communication with a proof from a neutral source, please attempt to do the same.
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#9 Consumer Comment

" Processor response a bit harsh"

AUTHOR: Charlene - (U.S.A.)

This is for " Brenda"

I am a mortgage broker and have several issues to address with you.

I am writing this letter in defense of the remarks that Mrs. Zannetha Moss who has made allegations against Starlite Funding Inc.
I am the Processor who handled Mrs. Moss's File, and would like to clarify our position to this complaint. <<<< Here you state you are a Mortgage Processor... the big word here is PROCESSOR, processors do all the " busy work for Loan Officers, THEY DO NOT PULL CREDIT, NOR DO THEY "SHOP AND LOCK LOANS" This is accomplished by a LICENSED LOAN OFFICER.

Mrs. Zannetha Moss Came to Starlite Funding Inc. at the with a Possible Loan scenario. She was attempting to purchase an Investment Property in which She asked for 100% Financing. She was looking for a Non-Owner Occupied investment property.
I asked Mrs. Moss several qualifying questions to help me place her loan. The First question that ANY Mortgage or Private Funding Company would ask is:
" What does your credit look like?" & What is you Debt to Income Ratio ?<<<< Again THE PROCESSOR asked qualifying questions? Hard to believe that your a loan processor asking questions, if so, good, then we know your company engages in unlicensed loan applications.

Mrs. Moss response was " I have Good Credit" & she stated she could service the debt.
Since Starlite Funding Inc. is a PRIVATE PLACEMENT funding Group. I explained to Mrs. Moss what our Procedures were, and if she choose to move forward she would be required to pay a NON-Refundable retainer fee. she was Notified in Advanced of this fee was & would have to pay this Fee if she chose to move forward. <<< RETAINER FEE? So what is your company, a law firm or a mortgage company? There is no such thing as ' RETAINER FEE" APPLICATION FEE IS MORE LIKE IT. Because your company charges borrowers to take an application, it is clear your customer service isn't the best as you have to force them to stay with you, if you didnt charge, they obviously would go else where, I can say, frankly, I don't blame them if everyone in your office is unlicensed and has an attitude such as yours

What does your credit and debt to income look like?<<< the woman said she had good credit, are you new in the business? Some people are embarrassed if they have less then perfect credit. The DTI question is hysterical. how many people know what their debt to income ratio is, do you ask them for the front and back ratio as well? Might as well, oh that's right your ONLY A processor, maybe you don't know how to figure it out???!

1.) This is a Flip Property
2.) She Has NO MONEY
3.) She Has Terrible Credit. <<< OH SO if she had perfect credit you would get this straw buyer a loan right?! Interesting.. oh wait, your only a PROCESSOR, I keep forgetting. Silly me ( sigh)

The information that you said about this woman tells me a couple things about you.

1) Subprime business is horrible ( we know this don't we ( wink), your business is slow, wink again.. and your ticked off, because you can't make a buck on this person .. ( double wink). Your comments about her credit, and other comments about her tell me that your one of the brokers that is about to starve.. yep, your as transparent as the day is long. If you are a processor asking qualifying questions and pulling credit on a borrower, you better be licensed or you will more then rip-off report blogs to worry about.

How's Aapex coming along? Anymore temporary cease and desist orders this week? Good luck and to the original poster, I am sorry you have had this horrible experience, when you hear about the subprime lending falling its because of people like this, they took advantage of unsuspecting homeowners and potential homeowners.. they are mad, because they can't get all that yield spread from the banks... you see if you would have applied not that long ago, this " processor" would have probably made a truckload of money on you, and you would have never known, but I can almost guarantee that you would not have gotten the rate that you qualified for anyway, you would have gotten the interest rate that padded their pockets the most.

Count your blessings you did not do further business with this company, know that Aapex is suffering some major problems, States are suspending their licenses, and these guys are starving.

And no matter what you do in the future NEVER PAY A MORTGAGE BROKER BEFORE CLOSING.. NEVER. THERE IS NO SUCH THING AS A RETAINER FEE.. THEY CHARGED YOU A FEE SO YOU WOULD NOT SHOP THE RATES .. TRUST ME ON THIS ONE.

God Bless

PS.. STAY AWAY FROM MORTGAGE BROKERS FOR NOW, ESPEICIALLY IF YOU HAVE POOR CREDIT, THEY ARE IN PANIC MODE.. DON'T BE A VICTIM.
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#10 UPDATE Employee

Response. to Mrs Zannetha's Complaint

AUTHOR: Brenda - (U.S.A.)

To Whom it May Concern

I am writing this letter in defense of the remarks that Mrs. Zannetha Moss who has made allegations against Starlite Funding Inc.
I am the Processor who handled Mrs. Moss's File, and would like to clarify our position to this complaint.

Mrs. Zannetha Moss Came to Starlite Funding Inc. at the with a Possible Loan scenario. She was attempting to purchase an Investment Property in which She asked for 100% Financing. She was looking for a Non-Owner Occupied investment property.
I asked Mrs. Moss several qualifying questions to help me place her loan. The First question that ANY Mortgage or Private Funding Company would ask is:
" What does your credit look like?" &

What is you Debt to Income Ratio ?

Mrs. Moss response was " I have Good Credit" & she stated she could service the debt.

Since Starlite Funding Inc. is a PRIVATE PLACEMENT funding Group. I explained to Mrs. Moss what our Procedures were, and if she choose to move forward she would be required to pay a NON-Refundable retainer fee. she was Notified in Advanced of this fee was & would have to pay this Fee if she chose to move forward.

She also informed that if she did move forward we would also pull her credit report, and we would also verify her income. With verifying her employment and verifying Deposits

Mrs. Moss made the decision to move, she paid her retainer fee and submitted her application

What she failed to tell you in her complaint that her credit was BELOW 500 which she did not tell me Until her credit was pulled , and when her financials were reviewed, she did not have any money to service the Debt which she originally stated she did.
There was NO WAY this client was going to qualify for 100% financing and and if she was honest with me upfront, we Informed her immediately
It was Mrs. Mosses decision to take it to the Hard Money Market
She was Also informed she WOULD NOT get 100% Like she wanted.
After informing Mrs. Moss, she could not get the 100% Financing, like she has told the Investor she could do. She made a desperate attempt to locate funding. Asking us to give her some options.
We informed her that there are several avenues she could take.
1.) Getting the Seller to Hold a Seller Second.
2.) Asking the Seller to Give a Sellers Contribution to assist her in closing
It was then when Mrs. Moss revealed she would purchase a Flip Property
Plot Thickens. .....
I don't know who informed this client that she can actually Purchase an Investment Property with Bad Credit and NO MONEY, but when we told Mrs. Moss she couldn't do it. She became aggressive an insisting we try to locate the funding for her.
I explained to her that her credit will not allow her to qualify for 100% financing.
If she even had 1 ( Just One) Positive line of credit or ANY MONEY for that matter. I would have been able to do something. But she did not have any money and Has a History of Not paying her debts.
So
Out of A Desperate Attempt to try to Satisfy a Client who was apparently Did not Agree with my results. Wanted me to Continue Searching for a Lender who would be interested in her loan
Note:
1.) This is a Flip Property
2.) She Has NO MONEY
3.) She Has Terrible Credit.

We hit the Hard Money Market, trying to find anyone who would take her loan. No One was interested in her. I should have dropped this client when she was insisting I go Hard Money.
The Bottom Line is:
1.) She withheld information that was vital to her Project.
2.) She signed and Agreed to a Non-Refundable Fee Agreement BEFORE she retained and Paid for this service. Starlite Funding Inc. She knew the risks and she still engaged in a business relationship with Starlite Funding.

My final statement

Don't sign a Non-Refundable Fee Agreement and engage in a Business transaction if your Credit Sucks.

How can anyone expect a creditor to give you Money when you can't even pay your bills?

Furthermore

If you are a High Risk client. Don't pay a Non-Refundable Fee and then Complain about it, when you have been rejected or Denied.

Don't miss lead the company working for you. because when they start collecting Docmentation, and the information you submit is not what was origionally stated.

it is your Own fault thinking you can slip it by.

Sorry you had a Bad Experience, You can please them all

Sincerely,
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#11 UPDATE Employee

Response. to Mrs Zannetha's Complaint

AUTHOR: Brenda - (U.S.A.)

To Whom it May Concern

I am writing this letter in defense of the remarks that Mrs. Zannetha Moss who has made allegations against Starlite Funding Inc.
I am the Processor who handled Mrs. Moss's File, and would like to clarify our position to this complaint.

Mrs. Zannetha Moss Came to Starlite Funding Inc. at the with a Possible Loan scenario. She was attempting to purchase an Investment Property in which She asked for 100% Financing. She was looking for a Non-Owner Occupied investment property.
I asked Mrs. Moss several qualifying questions to help me place her loan. The First question that ANY Mortgage or Private Funding Company would ask is:
" What does your credit look like?" &

What is you Debt to Income Ratio ?

Mrs. Moss response was " I have Good Credit" & she stated she could service the debt.

Since Starlite Funding Inc. is a PRIVATE PLACEMENT funding Group. I explained to Mrs. Moss what our Procedures were, and if she choose to move forward she would be required to pay a NON-Refundable retainer fee. she was Notified in Advanced of this fee was & would have to pay this Fee if she chose to move forward.

She also informed that if she did move forward we would also pull her credit report, and we would also verify her income. With verifying her employment and verifying Deposits

Mrs. Moss made the decision to move, she paid her retainer fee and submitted her application

What she failed to tell you in her complaint that her credit was BELOW 500 which she did not tell me Until her credit was pulled , and when her financials were reviewed, she did not have any money to service the Debt which she originally stated she did.
There was NO WAY this client was going to qualify for 100% financing and and if she was honest with me upfront, we Informed her immediately
It was Mrs. Mosses decision to take it to the Hard Money Market
She was Also informed she WOULD NOT get 100% Like she wanted.
After informing Mrs. Moss, she could not get the 100% Financing, like she has told the Investor she could do. She made a desperate attempt to locate funding. Asking us to give her some options.
We informed her that there are several avenues she could take.
1.) Getting the Seller to Hold a Seller Second.
2.) Asking the Seller to Give a Sellers Contribution to assist her in closing
It was then when Mrs. Moss revealed she would purchase a Flip Property
Plot Thickens. .....
I don't know who informed this client that she can actually Purchase an Investment Property with Bad Credit and NO MONEY, but when we told Mrs. Moss she couldn't do it. She became aggressive an insisting we try to locate the funding for her.
I explained to her that her credit will not allow her to qualify for 100% financing.
If she even had 1 ( Just One) Positive line of credit or ANY MONEY for that matter. I would have been able to do something. But she did not have any money and Has a History of Not paying her debts.
So
Out of A Desperate Attempt to try to Satisfy a Client who was apparently Did not Agree with my results. Wanted me to Continue Searching for a Lender who would be interested in her loan
Note:
1.) This is a Flip Property
2.) She Has NO MONEY
3.) She Has Terrible Credit.

We hit the Hard Money Market, trying to find anyone who would take her loan. No One was interested in her. I should have dropped this client when she was insisting I go Hard Money.
The Bottom Line is:
1.) She withheld information that was vital to her Project.
2.) She signed and Agreed to a Non-Refundable Fee Agreement BEFORE she retained and Paid for this service. Starlite Funding Inc. She knew the risks and she still engaged in a business relationship with Starlite Funding.

My final statement

Don't sign a Non-Refundable Fee Agreement and engage in a Business transaction if your Credit Sucks.

How can anyone expect a creditor to give you Money when you can't even pay your bills?

Furthermore

If you are a High Risk client. Don't pay a Non-Refundable Fee and then Complain about it, when you have been rejected or Denied.

Don't miss lead the company working for you. because when they start collecting Docmentation, and the information you submit is not what was origionally stated.

it is your Own fault thinking you can slip it by.

Sorry you had a Bad Experience, You can please them all

Sincerely,
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#12 UPDATE Employee

Response. to Mrs Zannetha's Complaint

AUTHOR: Brenda - (U.S.A.)

To Whom it May Concern

I am writing this letter in defense of the remarks that Mrs. Zannetha Moss who has made allegations against Starlite Funding Inc.
I am the Processor who handled Mrs. Moss's File, and would like to clarify our position to this complaint.

Mrs. Zannetha Moss Came to Starlite Funding Inc. at the with a Possible Loan scenario. She was attempting to purchase an Investment Property in which She asked for 100% Financing. She was looking for a Non-Owner Occupied investment property.
I asked Mrs. Moss several qualifying questions to help me place her loan. The First question that ANY Mortgage or Private Funding Company would ask is:
" What does your credit look like?" &

What is you Debt to Income Ratio ?

Mrs. Moss response was " I have Good Credit" & she stated she could service the debt.

Since Starlite Funding Inc. is a PRIVATE PLACEMENT funding Group. I explained to Mrs. Moss what our Procedures were, and if she choose to move forward she would be required to pay a NON-Refundable retainer fee. she was Notified in Advanced of this fee was & would have to pay this Fee if she chose to move forward.

She also informed that if she did move forward we would also pull her credit report, and we would also verify her income. With verifying her employment and verifying Deposits

Mrs. Moss made the decision to move, she paid her retainer fee and submitted her application

What she failed to tell you in her complaint that her credit was BELOW 500 which she did not tell me Until her credit was pulled , and when her financials were reviewed, she did not have any money to service the Debt which she originally stated she did.
There was NO WAY this client was going to qualify for 100% financing and and if she was honest with me upfront, we Informed her immediately
It was Mrs. Mosses decision to take it to the Hard Money Market
She was Also informed she WOULD NOT get 100% Like she wanted.
After informing Mrs. Moss, she could not get the 100% Financing, like she has told the Investor she could do. She made a desperate attempt to locate funding. Asking us to give her some options.
We informed her that there are several avenues she could take.
1.) Getting the Seller to Hold a Seller Second.
2.) Asking the Seller to Give a Sellers Contribution to assist her in closing
It was then when Mrs. Moss revealed she would purchase a Flip Property
Plot Thickens. .....
I don't know who informed this client that she can actually Purchase an Investment Property with Bad Credit and NO MONEY, but when we told Mrs. Moss she couldn't do it. She became aggressive an insisting we try to locate the funding for her.
I explained to her that her credit will not allow her to qualify for 100% financing.
If she even had 1 ( Just One) Positive line of credit or ANY MONEY for that matter. I would have been able to do something. But she did not have any money and Has a History of Not paying her debts.
So
Out of A Desperate Attempt to try to Satisfy a Client who was apparently Did not Agree with my results. Wanted me to Continue Searching for a Lender who would be interested in her loan
Note:
1.) This is a Flip Property
2.) She Has NO MONEY
3.) She Has Terrible Credit.

We hit the Hard Money Market, trying to find anyone who would take her loan. No One was interested in her. I should have dropped this client when she was insisting I go Hard Money.
The Bottom Line is:
1.) She withheld information that was vital to her Project.
2.) She signed and Agreed to a Non-Refundable Fee Agreement BEFORE she retained and Paid for this service. Starlite Funding Inc. She knew the risks and she still engaged in a business relationship with Starlite Funding.

My final statement

Don't sign a Non-Refundable Fee Agreement and engage in a Business transaction if your Credit Sucks.

How can anyone expect a creditor to give you Money when you can't even pay your bills?

Furthermore

If you are a High Risk client. Don't pay a Non-Refundable Fee and then Complain about it, when you have been rejected or Denied.

Don't miss lead the company working for you. because when they start collecting Docmentation, and the information you submit is not what was origionally stated.

it is your Own fault thinking you can slip it by.

Sorry you had a Bad Experience, You can please them all

Sincerely,
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#13 UPDATE Employee

Response. to Mrs Zannetha's Complaint

AUTHOR: Brenda - (U.S.A.)

To Whom it May Concern

I am writing this letter in defense of the remarks that Mrs. Zannetha Moss who has made allegations against Starlite Funding Inc.
I am the Processor who handled Mrs. Moss's File, and would like to clarify our position to this complaint.

Mrs. Zannetha Moss Came to Starlite Funding Inc. at the with a Possible Loan scenario. She was attempting to purchase an Investment Property in which She asked for 100% Financing. She was looking for a Non-Owner Occupied investment property.
I asked Mrs. Moss several qualifying questions to help me place her loan. The First question that ANY Mortgage or Private Funding Company would ask is:
" What does your credit look like?" &

What is you Debt to Income Ratio ?

Mrs. Moss response was " I have Good Credit" & she stated she could service the debt.

Since Starlite Funding Inc. is a PRIVATE PLACEMENT funding Group. I explained to Mrs. Moss what our Procedures were, and if she choose to move forward she would be required to pay a NON-Refundable retainer fee. she was Notified in Advanced of this fee was & would have to pay this Fee if she chose to move forward.

She also informed that if she did move forward we would also pull her credit report, and we would also verify her income. With verifying her employment and verifying Deposits

Mrs. Moss made the decision to move, she paid her retainer fee and submitted her application

What she failed to tell you in her complaint that her credit was BELOW 500 which she did not tell me Until her credit was pulled , and when her financials were reviewed, she did not have any money to service the Debt which she originally stated she did.
There was NO WAY this client was going to qualify for 100% financing and and if she was honest with me upfront, we Informed her immediately
It was Mrs. Mosses decision to take it to the Hard Money Market
She was Also informed she WOULD NOT get 100% Like she wanted.
After informing Mrs. Moss, she could not get the 100% Financing, like she has told the Investor she could do. She made a desperate attempt to locate funding. Asking us to give her some options.
We informed her that there are several avenues she could take.
1.) Getting the Seller to Hold a Seller Second.
2.) Asking the Seller to Give a Sellers Contribution to assist her in closing
It was then when Mrs. Moss revealed she would purchase a Flip Property
Plot Thickens. .....
I don't know who informed this client that she can actually Purchase an Investment Property with Bad Credit and NO MONEY, but when we told Mrs. Moss she couldn't do it. She became aggressive an insisting we try to locate the funding for her.
I explained to her that her credit will not allow her to qualify for 100% financing.
If she even had 1 ( Just One) Positive line of credit or ANY MONEY for that matter. I would have been able to do something. But she did not have any money and Has a History of Not paying her debts.
So
Out of A Desperate Attempt to try to Satisfy a Client who was apparently Did not Agree with my results. Wanted me to Continue Searching for a Lender who would be interested in her loan
Note:
1.) This is a Flip Property
2.) She Has NO MONEY
3.) She Has Terrible Credit.

We hit the Hard Money Market, trying to find anyone who would take her loan. No One was interested in her. I should have dropped this client when she was insisting I go Hard Money.
The Bottom Line is:
1.) She withheld information that was vital to her Project.
2.) She signed and Agreed to a Non-Refundable Fee Agreement BEFORE she retained and Paid for this service. Starlite Funding Inc. She knew the risks and she still engaged in a business relationship with Starlite Funding.

My final statement

Don't sign a Non-Refundable Fee Agreement and engage in a Business transaction if your Credit Sucks.

How can anyone expect a creditor to give you Money when you can't even pay your bills?

Furthermore

If you are a High Risk client. Don't pay a Non-Refundable Fee and then Complain about it, when you have been rejected or Denied.

Don't miss lead the company working for you. because when they start collecting Docmentation, and the information you submit is not what was origionally stated.

it is your Own fault thinking you can slip it by.

Sorry you had a Bad Experience, You can please them all

Sincerely,
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