Nations Choice Mortgage ,ASMARTLOAN.com Predatory and fraudelant lending practice Gilbert, Arizona

This company practices deceptive lending practices, when they requested $495 deposit they say it will be used for an appraissal but hide it as an application fee. Ultimately, this company took my $495, gave me the run around for over one month only to deny my loan on their lack of oversight at the end and kept my $495. They NEVER tell you it is non refundable and hide it in small print and they never tell you what it is really for, they try to tell you it is used for cost of appraissal. I would strongly urge anyone considering this company to truly shop around unless you feel like wasting your time and money.

I applied for a refi on my property back on 10/20/09. The loan Officer Kevin Jenkins, did an over the phone application and we discussed my income; He provided me with a good faith estimate that included a $495 deposit when I questioned him about this fee, he stated that it is used to cover the appraisal, It looked very high for the cost of an appraisal when questioned, he said that due to recent changes in lending practices, brokers were no longer able to attain their own appraisers and that the fee was high just to cover whatever the appraisal cost may be and that at closing I would receive the difference. (LIE)

On 11/5 he said he was running into some problem verifying my income. On 11/18 he sends me a document that specifies the denial of the loan. I inquired about my $495 to be refunded, and he forwards my request to his manager Ron Goetz, who is placing the blame on me for not disclosing a schedule C. I provided the verification of income paystubs and W2 they requested during initial application I was very clear with Kevin when I explained to him that I had a business during my application with him, I have e-mails to confirm this disclosure even to the extent that I made him aware how much I net on the business. ALL THEY CARE ABOUT IS KEEPING YOUR MONEY, I SHOULD HAVE KNOW BETTER TO NOT PROVIDE MONEY UPFRONT.  STAY CLEAR OF THIS COMPANY!!!!