• Report: #1057560

Complaint Review: optimum first mortgage

  • Submitted: Sat, June 08, 2013
  • Updated: Sat, June 08, 2013

  • Reported By: joshb — los angeles California
optimum first mortgage
8900 warner ave fountain valley, California USA

optimum first mortgage, mike timoschuk rip-off loan officers - appraisals required but no loans fountain valley California

*REBUTTAL Owner of company: Loan Was Denied

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After discussing with several mortgage brokers, I chose to work with Optimum First.

After encouraging discussions with Mike Timoschuck, and full documentation of income and asset situation, I locked into TWO loans on two properties that I own.  I was instructed to get appraisals on the properties, which came back with appropriate pricing levels.  I was told all was in order and waited further instructions.  These appraisals cost me over $1000. 

After weeks of no news, I finally received emails that my loans were CANCELLED.  I called Mike immediately but did not reach him, i sent DOZENS of emails, but recieved NO response.  More phone calls, more emails.  And ZERO RESPONSE from Mike at Optimum First.  When I finally managed to reach him, he said they were "still working on it". 

Weeks went by, and no news.  Again, dozens of emails.  No response.   Now it has been months, and apparently the loans are inactive.  I spent over $1000 on appraisals and did not recieve ANY NEWS on my loans and why they were cancelled.

I feel that this is a scam.  Perhaps they are working with appraisers to get homeowners to spend money with no intention of giving loans.  Common business practice would include a phone call or a detailed email about what happened, why I spent $1000+ with this company when there is no loan at the end. 

I would avoid Optimum First.  And I woudl avoid Mike Timoschuck at all costs.

This is not a reliable or trustworthy businesss.

 


This report was posted on Ripoff Report on 06/08/2013 02:59 PM and is a permanent record located here: http://www.ripoffreport.com/r/optimum-first-mortgage/fountain-valley-California-92708/optimum-first-mortgage-mike-timoschuk-rip-off-loan-officers-appraisals-required-but-no-1057560. 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:
0Author 0Consumer 1Employee/Owner
Updates & Rebuttals

#1 REBUTTAL Owner of company

Loan Was Denied

AUTHOR: optimum first - ()

I apologize but the loans were denied because the transcripts from the IRS showed differently then what was filed on the tax returns. Mike then had to rework the loans and try to get them approved with another lender but the loans were just not approvable. The appraisal fees were paid to the appraiser and we didnt profit $1 on those. That being said that is no excuse for Mike not calling you. I wish you had contacted before posting this as if there are any problems I would like to resolve them. I could have issued a refund for your appraisal if I had found we had dropped the ball somewhere or as a matter of customer service. If any other customers are thinking about doing business with us please do not let this review stop you as 99% of our loans have a very smooth process with no hitches. We typically fund over 2000 loans per year so having a few negative reviews online is almost unavoidable in this business. Now if we had only funded 200 loans per year and had several negative reviews that would definetly indicate a problem. Over the last 5 years you will find some negative reviews about us, when searching the web, but remember we've funded over 10,000 loans during that time period. Please also research us at trustlink.org as we have over 1000 positive reviews on that website. Please call me if you ever have any questions, Matthew Dohman, President at 714-415-3203 x127, Thanks.

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