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  • Report: #450134

Complaint Review: Daniel Peterson

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  • Submitted: Fri, May 08, 2009
  • Updated: Tue, January 01, 2013

  • Reported By:Los Angeles California
Daniel Peterson
1207 Antoine DR. ST 200 Houston, Texas United States of America
  • Phone: 713-956-5363
  • Web:
  • Category: Loans

Daniel Peterson Verified REVIEW: Home Equity Lending, INC commitment to total customer satisfaction. Home Equity Lending, INC past and current approach to business is focused on providing the highest quality loans and financial services to their clients. Houston, TX, Dallas, Austin, San Antonio, Dallas, Fort Worth
*UPDATE: Home Equity Lending, INC pledges their commitment to Ripoff Report Corporate Advocacy, Business Remediation and Customer Satisfaction Program. A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. Home Equity Lending, INC recognized by Ripoff Report Verified

*REBUTTAL Owner of company: Home Equity Lending response to false allegations

*Author of original report: Home Equity Lending $1500 for app fee due to verbal mislead of mortgage approval

*Author of original report: Home Equity Lending - Daniel Peterson - Verbal mislead for mortgage approval - charged app fee of $1500 w/ no approval

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Ripoff Report Verified REVIEW:

EDitors UPDATE: Positive rating and recognition has been given to Daniel Peterson and Home Equity Lending, INC for its commitment to excellence in customer service.

Ripoff Reports discussions with Daniel Peterson of Home Equity Lending, INC have uncovered an ongoing commitment by the company to total client satisfaction. This means that clients can expect that the company will work towards finding a mutually satisfactory resolution to any complaints or concerns. Home Equity Lending, INC listens carefully to client concerns and sees them as an opportunity to learn from past mistakes and become more efficient as a company in the services offered and the support for those services.
.....ripoffreport.com/common/img/rorverified.gif" alt="Home Equity Lending is Rip-off Report Verified" style="border: medium none;">
Ripoff Report Verified .. part of Ripoff Report Corporate Advocacy Business Remediation & Customer Satisfaction Program.A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business..

The information provided in this report is based on comments made by Daniel Peterson during an on-site inspection held by a third party verification company with no biases toward Daniel Peterson Home Equity.

Home Equity Lending, INCs principal Daniel Peterson stated As a successful businessman, he feels it is critical to listen to his clients and respond properly. By always putting his customers first, he hopes to maintain Home Equity Lending, INC as a successful enterprise both now and for many years to come.

Our goal is to provide our clients the best quality, value and professional excellence in the industry." Some of the other things learned in the course of our review that Home Equity Lending, INC truly communicate all aspects of the job in a timely and effective manner.

Home Equity Lending INC. was started in 1998 when Texas home equity loans were first made legal. We have always focused on self-employed and corporate customers so having stated income and asset loans has always been our specialty. Today, we only do commercial loans. We do many loans for high net worth, foreign national individuals and law firms for development and construction. We also do a lot of Church loans and construction loans. 75% + of our business is referral based so that speaks volumes in and of itself.

We keep all of our client information private and do not boast about who are customers are. If we named them, you would have heard of many of them.

We specialize in Texas loans in large metro areas and we are very, very strong in this market. We do SBA, HUD, Church, multi family, hotel, RV Parks, Hard Money loans, self-storage, construction, gas stations and convenience stores. We also do lines of credit for businesses and have several + $25M LOC's working now for clients. If you are looking for the best deal on your commercial loan, especially in Texas, you should give us a call.

We are very pleased with the responsiveness that he and his employees show us. They are serious about meeting commitments, and deliver on all their promises."

Daniel Peterson Home Equity Lending provides commercial loans. Their goal is to continue to provide solid loans as they state that they have for the last 16 years. The company states that they have never had one bank shut them down and they have never been asked to buy back a loan.

The company receives through the internet, referrals and phone calls. Once a perspective client initiates services, they prequalify them and wait for a letter from their lender before taking in a file. They are a broker and they take the file in, process it and turn it over to the bank. The bank then takes care of the closings. Daniel Peterson Home Equity usually tries to follow up with customers after their experience with them and thank the customer for their business and ask for referrals.

Home Equity Lending, INC takes employee satisfaction seriously as well. Employee feedback and surveys reveal comments such as this: "Home Equity Lending, INC provides a very positive environment to work. Opportunities for suggestions and improvements are encouraged. They are truly concerned about our contribution to the company and providing growth opportunities for us. He takes the time to listen and communicate with employees and customers." Rip-off Report was pleased to learn that Home Equity Lending, INCs past and current approach to business is focused on its pledge to total commitment towards client and employee satisfaction.

The company is committed to doing whatever it takes to make the client happy. They state that if any employee senses any customer dissatisfaction at all, then the owner of the company immediately gets involved and tries to resolve it. They state that at this point in time, they think all the necessary steps have been taken to provide the best customer service possible. They do not even accept files anymore until the lender says its okay to accept it to take the guest work out of things. If the lender finds any evidence of fraud, the company would not accept the file. Daniel Peterson Home Equity is happy to be a part of the Corporate Advocacy Business Remediation and Customer Satisfaction Program because they believe it will prevent instances of complaints that they have previously received.

Home Equity Lending, INC recognizes that complaints posted on Ripoff Report (whether true or not) are issues that need to be addressed, not ignored. If handled correctly, complaints can be valuable learning opportunities. With the feedback generated by Rip-off Reports Investigation Home Equity Lending, INC has made organizational changes allowing its clients and employees a more streamlined approach to problem resolution and a commitment to a great client experience.

The company is committed to doing whatever it takes to make the client happy. They state that if any employee senses any customer dissatisfaction at all, then the owner of the company immediately gets involved and tries to resolve it. They state that at this point in time, they think all the necessary steps have been taken to provide the best customer service possible. They do not even accept files anymore until the lender says its okay to accept it to take the guest work out of things. If the lender finds any evidence of fraud, the company would not accept the file.

Daniel Peterson Home Equity is happy to be a part of the Corporate Advocacy Business Remediation and Customer Satisfaction Program because they believe it will prevent instances of complaints that they have previously received.

In summary, after our investigation, Ripoff Report is convinced that Daniel Peterson and Home Equity Lending, INC is committed to quality delivery of services resulting in total client satisfaction.

Read more about why consumers should feel confident when doing business with Daniel Peterson as a member of Ripoff Report's Corporate Advocacy Business Remediation & Customer Satisfaction Program. Yes, its a long name for a program that does a lot for both consumers and businesses alike.

Read about Rip-off Report Corporate Advocacy Business Remediation & Customer Satisfaction Program,.. A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. this program works.

As a matter of policy, when a business becomes a member of the Corporate Advocacy Program they agree to allow Ripoff Report to contact every client who filed a complaint so they can make things right with them. In order to confirm that the complaints were resolved, Ripoff Report is copied on all responses so we can insure that the member business did right by their customer ..

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NOW TO THE ORIGINAL REPORT THAT WAS FILED
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Daniel Peterson Charged $1500 appliation fee before loan was approved.  Verbally guaranteed that the loan would be approved.  Did not furnish written proof of work to find a broker who could approve a loan or not approve. Houston Texas

This broker had an expired license and should not have been practicing. In October 2008, I was seeking financing for an 8 unit in Dallas TX. I came across the broker's website and submitted an application. Upon discussing the application further on the phone, this broker advised me that he was able to get my loan approved, and that I was to wire a $1500 app fee. Trusting his word, I wired the fee.

A week later, the broker advised me the market had changed and that my loan could not be approved. I advised the broker to keep working on my file to continue to look for people who could help me with getting approval. I continually asked for written proof and also rejection letters from banks or lenders that he had connections with but in the whole month that I was emailing him and calling him, he replied saying that he was "busy" and doing "large loans" for either himself or other people.

He could not keep track of the documents I sent him two or three times on the property and was not focused on finding a lender for me. I consulted a legal advisor on this matter and when they tried to reach him, his phone # was out of service and was unreachable. I am filing this report because this person should not be practicing without a license and I recently received emails from him for loan mods. I want my money back.

Julie
Los Angeles, California
U.S.A.

This report was posted on Ripoff Report on 05/08/2009 09:28 PM and is a permanent record located here: http://www.ripoffreport.com/r/Daniel-Peterson/Houston-Texas-77055/Daniel-Peterson-Verified-REVIEW-Home-Equity-Lending-INC-commitment-to-total-customer-sat-450134. 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.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

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REBUTTALS & REPLIES:
0Author 2Consumer 1Employee/Owner
Updates & Rebuttals

#1 REBUTTAL Owner of company

Home Equity Lending response to false allegations

AUTHOR: Daniel Peterson - (U.S.A.)

I am curious Julie, why hide behind an Alias like Jezelbel if you are really telling the whole truth? Why try to be anonymous?


Definition--noun

1. Bible the wicked woman who married Ahab, king of Israel: 1 Kings 21:5-23; 2 Kings 9:30-37
2. Any woman regarded as wicked, shameless, licentious, etc.

Your choice of Alias is interesting. Let us sort through your lies and misrepresentations, shall we?

1. Expired license.
Our license has never expired. We voluntarily surrendered it so we could get all 50 States through a Federal Charter. This is clear on the State of Texas website, so why did you lie? Why do only one State when you can do all 50? We can now do residential mortgages in all 50 States along with Commercial and multifamily. You do not need a license to do Commercial loans or multifamily which is what your loan request was. We also offer loan modifications for people who are having problems making their payments in 42 states or have unfavorable loan terms.

2. His phone # was out of service
Our phone number is working fine and has since 1998. Please call it to see. 800 547 9081 or 713-956-5363

3.He could not keep track of the documents
How do you not keep track of an email?
If we did such a bad job on your loan request, please provide proof that you actually purchased and closed with a Bank on the 8 unit property in Dallas that you applied for with us. Out of 1000s of mortgage brokers surely someone got you closed if you were truly qualified?

4.The broker forwarded me pre approval docs
There is no such thing in commercial lending. We sent you a broker fee agreement and it also says there are no guarantees. We are not the Bank and we do not control approvals. See below copied from BFA.
>>>>>>>>>5. Best Efforts Basis: The Broker is representing the Borrower on a best efforts basis only and cannot guarantee the successful placement of any loan.


5. I requested written proof of his work and written reasons why lenders could not approve me.
We did a conference call with you and my lender that had the most interest. He told you why you did not qualify. You live 1000 miles away from the property you were to try to manage and you have no experience in multi family management at all. Based on what you report on your income tax returns and cash reserves you did not qualify. Your income did not match your application.

Had you not misrepresented several material facts like your income and cash reserves we would have never wasted time trying to get you approved for a loan that you clearly do not qualify.

None of this could be known at time of application. The other points the lender made on our conference call with you were valid as well. Being a Foreign National with no SS # made it even more difficult and I explained this to you before application.


FYI- Application fee means the fee when a loan package is started or submitted for approval. We only accept and write up deals that sound like they will close based on the representations of the applicant during the initial phone interview.

The Commitment fee is the fee after the loan is approved and the Bank has issued a L.O.I. (letter of intent).

The Origination or success fee is collected at closing when the loan funds. This is the big check we work for. We were unable to get your loan approved after much work and multiple submissions to lenders. We would have loved to get this loan closed for you if it were possible.

Your Broker Fee Agreement clearly spells out there are no guarantees for approval and your rights and remedies.

At the end of the day, nothing else could have been done to get you approved on this deal with your situation, as was verifiable at that time, short of loan fraud. We have 1000s of happy customers that have had their loans closed since 1998 and we have never had a complaint until you.

We are in good standing with the BBB and all regulatory agencies. We had our Texas State loan audit and passed it with flying colors.

I am sorry we were not able to get you closed but you clearly were not qualified. I feel the Banks made the correct decision after all of the facts were uncovered which was impossible to do at time of application. It is what it is.

I am sorry that you are so bitter that you would not tell the whole truth and attempt to misrepresent and slander us.

If anyone has any questions regarding this posting, I encourage them to contact me directly at (713) 956-5363.

Best regards,
Daniel Peterson
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#2 Author of original report

Home Equity Lending $1500 for app fee due to verbal mislead of mortgage approval

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

October 2008, I sought to finance an 8 unit in Dallas, TX. I submitted an application on www.homeequitylending.com (broker's name is Daniel Peterson). Upon submitting my data to the broker, and over several discussions, the broker said he was 100% sure he could get loan approval. The broker forwarded me pre approval docs, I trusted his word and wired the $1500 fee. Weeks later, he advised me the market had changed and I no longer had a loan approval. I requested written proof of his work and written reasons why lenders could not approve me. There was no response. I consulted a legal advisor and they tried to contact him and the phone # was out of service. An initial letter concerning the matter of a refund for the $1500 was also sent to him via mail and there was no response.
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#3 Author of original report

Home Equity Lending - Daniel Peterson - Verbal mislead for mortgage approval - charged app fee of $1500 w/ no approval

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

In October 2008, I was seeking financing for an 8 unit in Dallas TX. I came across the broker's website and submitted an application. Upon discussing the application further on the phone, this broker advised me that he was able to get my loan approved, and that I was to wire a $1500 app fee. He guaranteed this when I asked him if it was a for sure thing. Presuming this broker was working in my best interest, I trusted him and wired the fee. A week later, the broker advised me the market had changed and that my loan could not be approved. I advised the broker to keep working on my file to continue to look for people who could help me with getting approval. I continually asked for written proof and also rejection letters from banks or lenders that he had connections with but in the whole month that I was emailing him and calling him, he replied saying that he was "busy" and doing "large loans" for either himself or other people. He could not keep track of the documents I sent him two or three times on the property and did not seem focused on finding a lender.

I consulted a legal advisor on this matter and when they tried to reach him, his phone # was out of service and was unreachable. I am filing this report because I found out this broker surrendered his broker's license in Aug 08, months before I got in contact. Also there has been no further contact to my inquiries about written proof of his work to get me lenders.
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