• Report: #674354

Complaint Review: Lenders Direct

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  • Submitted: Wed, December 22, 2010
  • Updated: Thu, December 23, 2010

  • Reported By: Tsering — portland Oregon United States of America
Lenders Direct
1403 North Tustin Ave #250 Santa Ana, California United States of America

Lenders Direct Mission Hills Mortgage Bank; Bait and Switch Rate, Negligent and Inefficient Service Santa Ana, California

*Author of original report: Time Waster / Service a Joke

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I'm not normally into complaints, hate trivial things. But this deserves to be put out there in the interest of the public.

This business is a real joke. I've dealt with Roque Amadeus Gonzales (Rocky) and Tiffanie Burns. After about a month into the application process, they issued a new Good Faith Estimate, increasing the interest rate from 3.75 to 4.25 and additional credit charge of $1, 305. Remember these are the times of historic low interest rates in nations history. It was not disclosed in the original Good Faith Estimate (GFE). We went ahead with this increased fee and charge anyway.

Now 1 1/2 months into the loan process, they finally sent the final closing papers to sign on 12-20-10 via notary public at our house, who was not allowed to answer any question from us. Now hear this: a day after the final loan documents were signed by us, they want to cancel the whole thing, on the excuse that they need a portion of September pay stub from my wife, although we provided all the documents they had asked for a month before. These people put the cart before the horse. They ask for supporting documents a month later, after the rates are locked, and final documents are signed! And they refused to refund the $500 appraisal fee we paid. Lenders Direct, good luck enjoying our appraisal money! Now onto someone else's?

We hope this warning may help avoid similar loss and hardship to another applicant.


This report was posted on Ripoff Report on 12/22/2010 12:39 PM and is a permanent record located here: http://www.ripoffreport.com/r/Lenders-Direct/Santa-Ana-California-92705/Lenders-Direct-Mission-Hills-Mortgage-Bank-Bait-and-Switch-Rate-Negligent-and-Inefficien-674354. 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:
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#1 Author of original report

Time Waster / Service a Joke

AUTHOR: Tsering - (United States of America)

Lenders Direct / Gateway Business Bank / Mission Hills Mortgage Bank:

I'm not normally into complaints, hate trivial things. But this deserves to be put out there in the interest of the public.

This company is a real joke. I've dealt with Roque Amadeus Gonzales (Rocky) and Tiffanie Burns. After about a month into the application process, they have added an additional credit charge of $1,305 in the settlement sheet. We went ahead with this increased fee and charge anyway.

Now 1 1/2 months into the loan process, they finally sent the final closing papers to sign on 12-20-10 via notary public. Now hear this: a day after the final loan documents were signed by us, they want to cancel the whole thing, on the excuse that they need a portion of September pay stub from my wife, although we provided all the documents they had asked for a month earlier. These people put the cart before the horse. They ask for supporting documents a month later; and after the rates have been locked and final documents are signed! And they refused to refund the $500 appraisal fee we paid. And unlike in the early stages, the phone manner was abrupt hang ups in the later stages of the loan process.

We hope this warning may help avoid similar loss and hardship to another applicant. We have lost a valuable one and half month that we will never get back.

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