• Report: #1088712

Complaint Review: Foundation Mortgage

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  • Submitted: Tue, October 01, 2013
  • Updated: Mon, November 04, 2013

  • Reported By: Goodpenny — Pompano Beach Florida
Foundation Mortgage
33 SE 7th Street Suite N Boca Raton , Florida USA

Foundation Mortgage Richard Malman kept had me pay for services when I was already denied a house loan. Boca Raton Florida

*Author of original report: Stop the Lies

*REBUTTAL Individual responds: the whole truth

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 On April 11, 2013 I went to Foundation Mortgage and spoke to Richard Malman to find out if I could get a mortgage for a house
that I found for sale. After Richard charged me for a credit report and reviewed my job history, my assets, and my bank statements and 2 years of tax returns, he told me I was qualified for a home loan. Over the next 45 days I delivered all the papers he requested and answered all his questions and re-answered most questions twice all the while he kept me assured that I was approved. A lot of additional questions needed to be answered because he failed to copy my information correctly and also said I should sell my other house through him to cover any costs and assured me it would be easier to do both sales through him. He started mixing up the paper work and causing incredible confusion and problems Somehow, he got my renters husband's cell phone number and had his appraiser calling asking him personnel questions and giving him personnel information. [continued below]....

..... Initially, my dad wanted to be on the loan like on my
house that I was selling. He assured me it would not be necessary and would be easier if dad wasn't on the loan. He wanted to close on both houses on the same day. He kept saying that we were on schedule and should close without delay after the 45 days. He charged me for an appraisal on 5-23-13 in the amount of $410.00 to my visa credit card. This amount was denied by my credit card due to
the fact that I never gave him authorization to charge it as I had just sent in my credit card payment. Then on 6-08-13 again without my authorization he charged it again for a higher amount in the amount of $520.00. I had plans to use my credit card as I was out of state traveling and was informed my credit card has reached its limit because he charged it without my authorization, again. He charged more this time as a kick-back scheme.  In the beginning of July I became suspicious of his ability to process the paperwork I provided. When I asked whether he would be available on a Friday to discuss why I keep getting Stihp sheets with recurring questions that I already answered he stated "What's more important Mortgages or golf." He then told me he would be there on Friday to discuss matters further. I received a phone call Thursday stating he will be unavailable due to an important golf game. At that point I felt he was maliciously causing me to go through a lot of leg work for nothing. On 7-1-13 my title company told me that they will help me to straighten out the problems he created. Up until the very last day before the closing all paperwork with the help of the lawyer's staff we provided and answered all the questions the loan processor asked. Mimi the lawyer’s assistant said there was no reason why we should not get the loan after answering all the questions. On 7-18-2013 one day before the closing I called the title company and they told me my loan was denied. Richard Malman then called a short time afterwards and he said that my previous employers said “not nice things about me”. Then he said "it's your job history." He saw my job history on the first day when I paid for the credit check and he said I was approved for a loan. After being told I was denied for the house loan Mimi the title lawyers wife informed me that I was previously denied by a different bank Malman had used. All banks/brokers go to the government for a loan why was I not told I had already been denied more  than once. He kept spreading around my money with no intention of ever getting me the loan.

This report was posted on Ripoff Report on 10/01/2013 03:57 PM and is a permanent record located here: http://www.ripoffreport.com/r/Foundation-Mortgage/Boca-Raton-Florida-33432/Foundation-Mortgage-Richard-Malman-kept-had-me-pay-for-services-when-I-was-already-denied-1088712. 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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Updates & Rebuttals

#1 Author of original report

Stop the Lies

AUTHOR: Goodpenny - ()

#1 I was not fired from the job in question. In addition, the first thing I provided to you was my JOB HISTORY.  You keep mentioning I change jobs as you change your underwear. I work in the auto business and I follow where the work is which is completely normal in my field of employment. I have always been employed and you were well aware of that fact when you took my money!

On June 6,2013, Richard Malman with Foundation Mortgage received the notice saying that my previous employer lied and said I was fired.! Richard had me pay for an $520.00  appraisal on 6-08-2013 (2 days) after knowing the bad reference that a employer had left for me which had sour grapes. Richard Malman had from June 6,2013 to July to ask about this bad reference. He never mentioned it instead he made me get an appraisal and wind mitigation all while knowing this bad reference which could possibly deny my loan. I was unable to defend myself bcause I was never aware of this bad reference becuase if his secrecy. Richard asked for a job reference which is just an opinion of a previous employer. Yet on July 11th almost a month later my rate was allegedly locked in because I believed I was receiving a loan. He led me to believe I was receiving a loan.

Mimi Roy with S.E Title company got me an addendum on July 6,2013 which cost $1000. I never received the $1000 back based on the information Malman gave me and the title company that I would recieving a loan. He led me to believe that I would receive the loan which in turn made the title company believe that I would recieve the loan. The title company made an addendum which was $1000. One thousand dollars of my money was non refundable as the owner of the house also believed I would be recieving the loan and continued after the closing date to add an extension. Had Richard Malman not lied up until the day before the closing I would have never had my money put in jeopardy. Because of RICHARD MALMAN'S underhandedness and deceit that I agreed to go into that contract because he was leading everyone to believe I would receive the loan.

Had Malman notified me when he has received the paperwork at the beginning of this loan of the mix up with my past employer and said this may put my loan in jeapoardy. I would have never agreed to pay for an appraisal, wind mitigation, and an extension. MALMAN received my work history the very first day we started the loan!!!!!!!! The first question I was asked was the work history yet I was denyed a loan based on the first thing he asked of me.

Richard Malman lied and had not communicated or told the truth. He kept the truth from me and the title company. He never spoke the truth until there was government intervention. Even after I asked for specifics after I had already been told by the title company that I would not recieve the loan he still lied and said "my past employer had not nice things to say about me".  The only way to have Richard say the truth was through government intervention. Altogether, I had $1620 taken from me for a loan I would never get but believed I would get the whole time up until the day of the closing!!!!!!!!Lastly, he didn't even have the courage to tell me I had not recieved the loan. The title company called me to tell me this information.

Richard Malman, withholds information to manipulate and withholds information from the client so he can spread the money around to the people in the indusrty.along with his underwriter Lourdes Ortiz. A underwriters job is to pre qualify loan applicants and she was not capable of writing down basic information. She is either dyslexic and a racist. The first information she should have looked at was my job history yet I was denyed a loan on the very first information provided to her. She wasn't capable of writing down my employers or my other properties addresses correctly causing me to have a fraud guard put on my loan. The bank was not able to find a porperty I have because of Lourdes missplelling the address. This fraud could not be taken off once it had been put on my loan. The same occurence happened with my job. She entered information wrong on my work address which caused more problems on my loan becuase my employer could not be found. This added an additonal fraud guard to my loan. Becuase of their incompetance I was alleged to be fraudulent which is a very serious charge!


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#2 REBUTTAL Individual responds

the whole truth

AUTHOR: Richard Malman - ()

 Number one if the the customer told me he had been fired from his job he would have been denied much sooner.  We did everthing possible to get his loan approved, but the underwriter felt that his employment was too risky due to the fact he had change jobs 5 or 6 times in the past 2 years and we received negative empolyment reports from his employers.  The only charges he incurred were payed to an apprasail company and of course we had every intention of getting him his loan.  If we don't close on the loan, we don't get paid

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