• Report: #1050381

Complaint Review: Ifreedom Direct

  • Submitted: Sun, May 12, 2013
  • Updated: Sun, May 12, 2013

  • Reported By: Jeff — Syracuse Utah
Ifreedom Direct
2363 south foothill drive Salt Lake City, Utah USA

Ifreedom Direct Scam Salt Lake City Utah

*UPDATE Employee ..inside information: Response from iFreedom Direct

*UPDATE Employee ..inside information: Researching Your Complaint

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Austin Coleman with Ifreedom told me that my interest rate would be 3.375%. At closing they had changed my interest rate to 3.875 and told me that nothing could be done. I was left with no choice but to close on a higher rate, costing me thousands of extra dollars over the next 30 years. IFREEDOM IS A SCAM


This report was posted on Ripoff Report on 05/12/2013 08:41 PM and is a permanent record located here: http://www.ripoffreport.com/r/Ifreedom-Direct/Salt-Lake-City-Utah-84109/Ifreedom-Direct-Scam-Salt-Lake-City-Utah-1050381. 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 ..inside information

Response from iFreedom Direct

AUTHOR: iFD Customer Experience Dept. - ()

Dear Jeff,

iFreedom Direct® appreciates the opportunity to respond to your experience, and explain what occurred as the mortgage process can be quite complex.   

You actually had a choice. Austin Coleman, on behalf of iFreedom Direct®, first offered you a loan at 3.375% interest. Mr. Coleman reported that the loan offered would not have met your needs and requirements. So, Mr. Coleman worked to find another option for you. Mr. Coleman offered you a different loan at 3.875%. Though that loan had a higher interest rate, the loan had certain advantages that the original loan did not. You received the disclosures outlining the terms for the 3.875% loan almost three weeks before closing. iFreedom Direct® did not, would not, and could not, according to federal and state laws, spring these terms on you at closing.

 It now appears that there was some confusion about which loan, and its terms, you wished to close on. It seems you wanted to close on the rate from the initial offer. iFreedom Direct® could have closed that loan (without the advantages of the second offer’s terms), but, as Mr. Coleman explained to you, iFreedom Direct® would have had to provide you with certain disclosures and wait a few days. This is not just an iFreedom Direct® requirement but a requirement of federal and state laws. iFreedom Direct® would have liked to close whichever loan you choose and qualified for, but the company had to comply with mortgage regulations. The option of waiting four days, and then closing on the first loan was available to you, but you choose to continue with the second loan terms.  

We at iFreedom Direct® wish that you were more satisfied with your loan experience. We hope this explanation provides more insight on why your loan closed in the manner described above.

Thank you for taking the time to relay your experience.
 
Best regards,

iFreedom Direct® Customer Experience Department

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#2 UPDATE Employee ..inside information

Researching Your Complaint

AUTHOR: iFD Customer Experience Dept. - ()

Dear Jeff,

Thank you for taking the time to provide feedback on your VA loan experience with iFreedom Direct. Our company strives to provide our clients with exceptional service, so if you feel you did not receive that level of treatment we are very interested in learning why.
 
We've had the opportunity to pull up your file and are now talking with the parties involved. As soon as we have all the details, we will be in touch to address the concerns you relayed in this report.
 
Again, thank you for taking the time to relay your experience.
 
Best regards,

iFreedom Direct Customer Experience Department

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