• Report: #812292

Complaint Review: Precision Funding Group

  • Submitted: Wed, December 21, 2011
  • Updated: Tue, April 24, 2012

  • Reported By: Tom Johnson — Sewickley Pennsylvania United States of America
Precision Funding Group
226 Haddonfield Rd. Cherry Hill, New Jersey United States of America

Precision Funding Group Norman Lee Tomasello Jr. Mortgage Fraud Cherry Hill, New Jersey

*UPDATE Employee: Explanation

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Precision Funding sent me a letter stating "Your home loan for your property at _________ has gone under review ...... . It is important that you contact us toll-free (888) 274-2182 within 5 days of receiving this notice"
1. I do not own the property at the address referenced
2. There is no debt at all on the property - no mortgage whatsoever
The PFG letter identified "your personal webpage at www.  ............ ." I tried to access the webpage and was denied access.
The PFG letter urged me to contact "our loan representative" and provide my case number as set forth in the letter. I called and first talked briefly with Kristi (SP?) who transferred me to a mortgage specialist: Norman Lee Tomasello Jr. I asked what was the source of the information he had, to which he responded by saying "the public records of your county" and my credit report.
The public records do no show the information set forth in the letter. I have not authorized PFG or any mortgage broker or originator to review my credit report. I am not in the4 market for a mortgage.
I believe that this is a scam targetted at seniors and others in an attempt to get them into new above market mortgages by promising lower rates and easy take out cash.
I asked Normas whether he was licensed and he stated that his NML was 249995, which is a valid NML license number for him.
I urge that those who receive a letter from PFG refer it to the Better Business Bureau and file a report/complaint with the attorney general and department of banking of the state in which you receive such a letter from PFG.  

This report was posted on Ripoff Report on 12/21/2011 09:14 AM and is a permanent record located here: http://www.ripoffreport.com/r/Precision-Funding-Group/Cherry-Hill-New-Jersey-08002/Precision-Funding-Group-Norman-Lee-Tomasello-Jr-Mortgage-Fraud-Cherry-Hill-New-Jersey-812292. 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 UPDATE Employee


AUTHOR: Jen Biderman - (United States of America)

We apologize for what is, apparently, incorrect information contained in a mailer received by the consumer.  Please understand that PFG uses the services of an outside company to gather the customer-specific information contained in the mailers.  The outside company obtains information using what is called a soft pull.  A soft pull means information companies are able to obtain without written permission or authorization.  The customer-specific information that is obtained by the outside company is not reviewed by PFG; rather, PFG relies on that company with regard to the accuracy of the customer-specific information in the mailers.     
Unfortunately, it appears that the customer-specific information contained in the mailer received by this consumer was incorrect.  PFG, however, is in no way targeting seniors, or any other group, for a scam or any other illegitimate purpose.  PFG would like to apologize to the consumer for any inaccurate information that was contained in the mailer that he received, and for any inconvenience he may have experienced.  PFG would like to reiterate that it is not involved in any dishonest business practices and that it does not intentionally send out information that is incorrect.  Since being made aware of the inaccuracies in the information forwarded to the consumer, PFG has contacted the outside company and expressed our concern with regard to the accuracy of the information contained in the mailers, and PFG will continue to monitor the situation.

As for Mr. Tomasello, it seems that the only reason his name is in the title of this complaint is because when the consumer called regarding the mailer, the call was directed to Mr. Tomasello.  If the information in the mailer was not correct, that is not Mr. Tomasellos fault he simply answered the consumers question.  Mr. Tomasello conducted himself with professionalism and courtesy towards the consumer during their conversation, so it is not clear why the consumer felt it necessary to name Mr. Tomasello personally in this complaint.  

PFG is happy to respond to consumer complaints and is constantly seeking to improve our processes and customer service.  We welcome the opportunity to address our customers questions and concerns. 
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