Back in April we gave Cendant Mortgage $250 for a loan lock. Cendant is in NJ but the people we dealt with were physically located at a company generically named "Mortgage Services" in Jacksonville, FL.
We were applying for a VA streamline refinance which doesn't require a credit report or appraisal. It should be easy to process.
Our loan counselor, Erica, didn't know what a VA streamline was and sent us reams of paperwork for a regular loan. She sent us the correct forms a couple weeks later when I called to complain about reading and signing all the mounds of unneccessary paper. That was the extent of the work she did for our loan. She mailed some forms. She did NOTHING else.
They didn't like my husband's special POA needed for me to sign for him. He got one with all their requirements but then they didn't bother to even look at it. Meanwhile, they blithely let our loan lock expire. I called our "counselor" Erica to ask about the loan lock on the day it expired. She didn't even know when it was supposed to expire, further proof she obviously wasn't working on processing our loan.
I called her supervisor, Sharon, to demand they extend our loan lock because they had screwed up. She didn't think Erica did anything wrong. (Well, she was right as Erica didn't actually do ANYTHING.) Sharon had never heard of such a thing as an extension on a loan lock and told me we could get another lock for the current market price which was a full 1% higher.
I demanded our money back. At no point in our conversation did Sharon appear concerned over Erica's failure to process our loan, nor was she concerned over our losing the loan lock. She couldn't have cared less. Business as usual at Cendant.
Cendant Mortgage is a fraudulent company. They are not in the business of getting people loans. They are in the business of collecting $250 from as many people as they can.
Watch out for them, they have many websites they operate under.
www.valoans.com, www.mortgagefamily.com, www.mortgageloanstatus.com
For Veterans, a way to check them out is through their authorization number. Cendant only has one no matter where they are located or what other name they use.
Veterans, call the VA first to verify a company isn't them before you go for a loan. VA ID: 5550640000
Las Vegas, Nevada