• Report: #487956

Complaint Review: SHORE MORTGAGE

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  • Submitted: Mon, August 31, 2009
  • Updated: Thu, October 01, 2009

  • Reported By: lucynfer — Goodyear Arizona USA
SHORE MORTGAGE
WWW.SHOREMORTGAGE.COM BURMINGHAM, Michigan United States of America

SHORE MORTGAGE Mortgage Company added mystery fee at closing then lending officer assured we would get refund of fee post closing..NOT TRUE! Have yet to receive a penny. Burmingham, Michigan

*Author of original report: Partial refund of fee received

*Author of original report: Partial refund of fee received

* : Best of luck

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Initially I was very happy with the manner that my mortgage application was handled. The response time was quick. However every time my agent or myself questioned closing related fees, we never got a straight answer. Although the fees appeared high, I decided to proceed with the mortgage due to seemingly honest communication with the lending officer.

When it came time for closing, I noticed a $500 fee that was not originally on the good faith estimate and was being added as a discount fee even though the discount fee was 1% and was clearly already there.

At that point, I refuse to hand over any money until I had a chance to speak to lending officer. In the meantime, my agent was communicating with closing officer regarding the mystery fee. The closing officer sent emails to the person in charge of the closing with Shore Mortgage. That person responded by stating that the fee was something the lending officer came up with.

When I contacted lending officer, Rudy Mcdowell he stated he had nothing to do with it and that the mortgage company had just developed a new fee for what he called at-risk loans. Even though, he forgot he had already told us we were getting a higher interest rate so closing fees would be low. He assured me he could do something post-closing and to proceed as planned.

A week after closing, I sent an email asking about the refund. At that time, he went on and on how it was part of the mortgage because it was a difficult mortgage but would go ahead and refund from his own pocket. It is now one month post closing, and I have not received a penny. I have saved all communication emails with him, realtor, closing agent and Shore Mortgage closing personnel.

I will gladly retract everything I have stated if the refund in the amount of $500 is made in a timely manner. Hopefully it got crossed in the mail.

If not, be wary as this is a very shaded practice and consumers could stand to pay more money than anticipated. This mystery fee I was told could not be listed as a line item because FHA would not allow such fee....Obviously there is a reason for that.

This report was posted on Ripoff Report on 08/31/2009 05:18 PM and is a permanent record located here: http://www.ripoffreport.com/r/SHORE-MORTGAGE/BURMINGHAM-Michigan-48009/SHORE-MORTGAGE-Mortgage-Company-added-mystery-fee-at-closing-then-lending-officer-assured-487956. 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:
2Author 1Consumer 0Employee/Owner
Updates & Rebuttals

#1 Author of original report

Partial refund of fee received

AUTHOR: lucynfer - (USA)

As promised by lending officer, today I did receive 1/2 of the $500 refund fee. I am very pleased that this matter can be resolved. Mr. Mcdowell sent a note with the refund indicating that the remainder would be received at the end of October. Although this took longer than desired, I am very happy to report that Mr. Mcdowell is a man of his word. All we ever wanted is what was promised that is all. As I already mentioned in my initial report, we were willing to pay the higher closing fees due to Mr. Mcdowell's attentiveness and communication. We would have even been willing to pay him more for his work if everything had been clear, upfront and at our discretion.

Again I am very pleased to report that this matter is being resolved and that Mr. Mcdowell is true to his word. Perhaps this was something that needed a little bit more time and open-communication. I will update once more once the final payment is made.
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#2 Author of original report

Partial refund of fee received

AUTHOR: lucynfer - (USA)

As promised by lending officer, today I did receive 1/2 of the $500 refund fee. I am very pleased that this matter can be resolved. Mr. Mcdowell sent a note with the refund indicating that the remainder would be received at the end of October. Although this took longer than desired, I am very happy to report that Mr. Mcdowell is a man of his word. All we ever wanted is what was promised that is all. As I already mentioned in my initial report, we were willing to pay the higher closing fees due to Mr. Mcdowell's attentiveness and communication. We would have even been willing to pay him more for his work if everything had been clear, upfront and at our discretion.

Again I am very pleased to report that this matter is being resolved and that Mr. Mcdowell is true to his word. Perhaps this was something that needed a little bit more time and open-communication. I will update once more once the final payment is made.
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#3

Best of luck

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

You're never going to see that money.  I know the person you speak of and I know the culture there; if it isn't in writing, you're simply not going to see it.


You will have to hassle management very hard to get anything like this retracted.   

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