Complaint Review: Broker Solutions Inc. - Riverside California
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- Author Confirmed
- Broker Solutions Inc. 11820 Pierce St. #100 Riverside, California USA
- Phone: 949-748-4152
- Web:
- Category: Mortgage Companies
Broker Solutions Inc. New American Funding Deceptive mortgage pre qualification tactics Riverside California
*UPDATE Employee: New American Funding Customer Service Management Response to Complaint
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My wife and I we considering the purchase of a vacation home in another state, as we travel there for Porsche Club events a couple of times each year.
After hearing the radio advertisements, we decided to contact New American Funding to get pre qualified for a mortgage. Filled out the information that was requested, and I was informed that I qualified, without filing a joint credit application on my income alone, and Fico Scores.
After a discission with my wife, we decided not to pursue buying a second home or taking on another mortgage, we could stay in quite a few hotels for 200K. We'd put the money we had saved for the down payment to other uses.
After declining the offer, then the hounding began, emails, phone calls, etc. I recieved a letter stating the loan application had been denied, and our credit scores at the time were included in the denial letter from the three credit reporting agencys. We had excellent scores!
I decided to purchase another collector car, athough this time I decided to finance the purchase instead of paying cash for the entire ammount. I was denied because New American Funding has put detramental comments on my credit report.
First off I never signed a contract for a mortgage, only to run a credit check to see if we were pre qualified for a mortgage.
People Beware!
We had excellent scores, after dealing with New American Funding, our scores have dropped 50 to 80 points! If you decide not to purchase a mortgage with New American Funding, they'll trash you're credit.
We don't have any credit card debt, car payments, charge offs or late payments. we pay our bills on time. For the most part we don't finance anything, we pay cash or we don't buy it. The only loan we have is the mortgage on our Las Vegas home, and we've been here 24 years.
One phone call to New American Funding, and our FICO Scores are trashed! I wouldn't do business with these clowns if they were giving away free money!!!!
This report was posted on Ripoff Report on 01/07/2017 05:58 AM and is a permanent record located here: https://www.ripoffreport.com/reports/broker-solutions-inc/riverside-california-92505/broker-solutions-inc-new-american-funding-deceptive-mortgage-pre-qualification-tactics-r-1348224. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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#1 UPDATE Employee
New American Funding Customer Service Management Response to Complaint
AUTHOR: New American Funding Customer Service Management - (USA)
SUBMITTED: Friday, April 07, 2017
Dear Sir,
New American Funding's Customer Service Management has read your review regarding your mortgage inquiry experience with us and we would like to discuss this matter with you further. We would like to specifically look into your claim that by applying for a loan your credit somehow dropped about 50 points as per the credit bureaus, that is not an accurate amount of points that would be affected by a credit inquiry by a Mortgage Lender. The average points affected is roughly 2-3 points, not 50 points. That large number of points suggests the reporting of a late payment or something else significant, not just a credit inquiry. Regardless off the reason for the drop in your credit score we would like to assist you however possible in determining what exactly transpired and why. Please also allow me to also clarify that an Adverse/Denial Letter does not affect your credit negatively and is not sent to the bureaus. Please contact our Corporate Customer Service Management at 800-450-2010 ext. 7100 anytime Mon-Fri 8am-5pm (PST) so that we may research this matter further and assist accordingly.
Respectfully,
Customer Service Management
New American Funding
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