Many Violations: Privacy act,changed loan amount lost escrow monies, changed interest rates from original contract, misapplied payment, in appropiate late fees for not processing payments. For not paying employee's and independant venders. For Tax fraud. For Employing unlicensed Loan Officers.
Everything that has been written about this company is a fact. Everyone please go back and look at your original loan contract.
We have (9) loans on residential property they increased the amount of the loan, interest rates and lost escrow monies. I can send anyone evidence if they need.
They process payments late on purpose to make money. They put the payments in miscellaneous accounts and then slander your credit report. They have made up charges to charge people with to make money. They are purchasing insurance for you, even when they have paid the money from the original bill for the insurance company out of escrow, claiming you don't have any insurance.
They are sending foreclosure notice to peoples homes, I have clients calling me every day asking me what the heck is going on the paid their mortgage and insurance, why the foreclosure notice. I truly believe they are misapplying payments and putting them into an miscellaneous funds to purposely foreclose on properties so they will have all these homes to sell for a profit when the market turns around.
I have written , faxed, and spoke to them till I am blue in the face with no resolution. I have reported the to the IDFPR- Division of Banking and Financial Institution in New York.
Also their employees are not licensed.... There is a law now, anyone talking about a loan must be licensed. They have boiler rooms full of people that are not licensed and who instructed to lie and "pitch" unbelieveable 4.35 rates and then they close at a 6.5 rate...
Numerous employees and venders have come to my ofice and told me horror stories about not being paid by them. The owners run away to the cayman Islands when its time to pay. I have proof of this too... Just email me, and I will send you everything ou may need. DO NOT DO BUSINESS WITH THEM.
DON'T GET INVOLVED WITH BANKS THAT YOU NEVER HEARD OF ANYWAY. HAVE YOU EVER SEEN A "UNITED NORTHERN MORTGAGE BANKERS" COMMERCIAL, BILLBOARD, OR EVEN A LOCATION. They are not a real bank. They sell you a loan at a higher rate then sell it to investors and make more money because they beat you out of a good deal, and lied to you and stringed you along right to the closing table.
If anyone else out there has been screwed by "UNITED NORTHERN MORTGAGE BANKERS, LTD" or "Steven Koerner" Or "Paul Sabo", please let me know it you are interested in a class action suit. I am working on one with a very good attorney.
New York, New York