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Report: #604418

Complaint Review: Pleasant Valley Home Mortgage-Moorestown NJ - Moorestown New Jersey

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  • Reported By: anonymous — Mullica Hill New Jersey United States of America
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  • Pleasant Valley Home Mortgage-Moorestown NJ Harper Drive Moorestown, New Jersey United States of America

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This company lures people in with their promises, then cannot deliver.  They approved my loan, took my money for the appraisal, then decided that they could not approve my loan.  The denial had nothing to do with the appraisal!!!  I told them that my home was on the market and they said it was no problem. Then after they made me pay for the appraisal, they conveniently decided they could not do my loan.  It took over a week for someone to finally return my call.  Someone named John took my call.  He said he was the VP, and that he worked his whole life to be called VP, and asked that I call him Sir.  He actually reminded me three times during the conversation that he was the VP.  He snickered at me and finally said that he did care about my loan since he had plenty of other customers that he could make more money off of!!  I hope everyone shopping for a mortgage reads this and stays away from this company!!!  This company is exactly why the mortgage industry is in the sad shape it's in.  There are plenty of honest people with integrity to do business with. 

This report was posted on Ripoff Report on 05/18/2010 08:47 AM and is a permanent record located here: https://www.ripoffreport.com/reports/pleasant-valley-home-mortgage-moorestown-nj/moorestown-new-jersey-08057/pleasant-valley-home-mortgage-moorestown-njnbsp-scambait-and-switchtook-my-money-t-604418. 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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REBUTTALS & REPLIES:
0Author
9Consumer
0Employee/Owner

#9 Consumer Comment

Gramm-Leach-Bliley act

AUTHOR: Pleasant Valley Home mortgage - (United States of America)

POSTED: Friday, November 02, 2012

After reading all these complaints how is that person not suing them for using there name publicly? I contacted this company before, the rates are always or seem to be the lowest. If they do not take any fees upfront then why do they ask for a credit card and charge it that day for the appraisal? The guy I spoke with was a moron and kept saying he was new and never sold a mortgage before. Like the old saying goes, when it's to good to be true it probably is. I found a lot of the smaller lenders out there gave a more personable approach to the consumer. Research before acting, do not give a dime upfront, including a credit card. A company that would give the names of customer on the internet especially violates the GrammLeachBliley Act and should be fined accordingly.

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#8 Consumer Comment

Another Victim of the "Rate Lock" Ripoff

AUTHOR: Anonymous - (United States of America)

POSTED: Tuesday, October 30, 2012

I was also a victim of the poor practices of this company.

The loan started off well and the representative seemed helpful and attentive. We completed the appraisal and I continued to provide all requested documentation. The rate was attractive and all seemed to be going well. They promised a quick closing.

As we were rounding towards the end of the "Rate Lock Period", the process suddenly slowed. The rep was not nearly as attentive. My emails and phone calls went unanswered for days. They requested more and more documentation. We finally reached a point that I began to become skeptical.

As we were within days of the period ending, I pushed to find out what was going on. I was told that "we would see what we could do to extend the rate lock" and asked for yet more documentation. Finally, I got a call back stating that it would cost me a large daily "fee" to extend the rate lock until we could get the rest of the stipulations taken care of.

At this point I got the sense that this was intentional. I stated that I was going to shop for other lenders while they worked on getting me a quote on the "adjusted" closing costs. I was called back within hours and told that my application was being denied "because of the way that the conversation changed". (Yes this is really what the rep told me).

It seems to me that this company uses the "rate lock extension" as an income source. Other reviews online point to this theory as well. This is a poor business practice and is obviously taking advantage of consumers. I would personally recommend against using this company for your home lending needs.

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#7 General Comment

the OP used Real Names, so that open's him up to have his real name used

AUTHOR: IamGood - (USA)

POSTED: Wednesday, July 18, 2012

If you start throwing your story out on the internet to a Site like Ripoff Report, and you start using real names, then that gives the company that is being complained against the right to rebutt as well.

You cant always hide behind a keyboard.

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#6 Consumer Comment

Confidential

AUTHOR: Heather W. - (United States of America)

POSTED: Wednesday, July 18, 2012

I was considering doing business with this company. However, thanks to John's ignorance of posting personal names, I think not. Business lost = new VP.

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#5 Consumer Comment

I am Shocked

AUTHOR: one - (United States of America)

POSTED: Friday, July 06, 2012

I was seriously considering using Pleasant Valley Home Mortgage and decided to look online for complaints. 

I understand that customers can be unreasonable and leave out key facts in their complaints, but I am absolutely shocked that Pleasant Valley used real names and personal details in their rebuttal. 

I will never do business with a company that violates the privacy of anyone.  The fact that Pleasant Valley hasn't had these personal details removed, or at the very least apologized online speaks volumes.

Maybe this is the way things are done in New Jersey.  No Thanks!

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#4 Consumer Comment

Customer Confidentiality?

AUTHOR: Sunshine State - (United States of America)

POSTED: Sunday, April 22, 2012

I was in the banking industry for years and would never even consider mentioning to another customer that someone was a customer of ours say nothing about blasting the customers first and last names on the internet.  I was considering using this company to refinance our mortgage, but it is obvious from this last post from John the VP that this is not an ethical organization.  I will keep looking.  Thank you.

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#3 UPDATE Employee

Pleasant Valley Home Mortgage - Honesty throughout

AUTHOR: John Baldino, VP of HR/Sales - (United States of America)

POSTED: Monday, January 03, 2011

Robert and Kimberly Stankosh were provided full details of their loan transaction, including the possible time delays while waiting for a subordination agreement. A bait and switch plan would not apply here since the Stankoshs signed a mortgage rate lock agreement and a Good Faith Estimate, both of which are legally binding.

Robert and Kimberly Stankosh allowed their rate to expire, though warned not to do so both via phone conversations and through email. They ignored an opportunity to extend even on the last day of the rate lock period; even at that point, they were well aware that the subordination agreement still had not been approved by Charles Schwab.

It is unfortunate that Robert and Kimberly Stankosh have decided to take to the internet to be active; it would have been wiser to be active to extend their low rate and close on the mortgage application of which they are still desirous.

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#2 Consumer Comment

I believe the "bait and switch" story because it happened to us!

AUTHOR: Abused Client - (United States of America)

POSTED: Wednesday, December 29, 2010

I believe what this consumer wrote because we also were lead astray by Pleasant Valley Home Mortgage Company. They were so responsive when rates were declining and when we went through appraisal, and approval, but once rates started going up our rate lock became unattractive and they became very unhelpful. This company needs to be investigated for their "bait and switch" tactics. They want to string consumers along until they no longer need their business. At this point, consumers have missed other rate opportunities with reputable lenders. Please do not get involved with this company. They are dishonest and deceptive. You will be sorry if you do!!!!

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#1 UPDATE Employee

Pleasant Valley Home Mortgage - Exceptional integrity

AUTHOR: John Baldino, VP of HR/Sales - (United States of America)

POSTED: Thursday, June 24, 2010

According to the complaint, their home was on the market.  Depending on the type of refinance that the client was wanting to do would impact their approval - meaning whether it was a rate and term refinance or a cash out (debt consolidation, for example) refinance.  If the client changed his/her type of refinance, it would affect the original approval.

To be clear, Pleasant Valley Home Mortgage does not collect any money for appraisals.  As a mortgage bank, we clearly follow the guidelines outlined in the Home Valuation Code of Conduct (HVCC).  Any charge paid by the client was done directly through the appraisal management company, as I am sure the client's credit card statement would show.  Please refer to (((Redacted)))
for additional help in understanding current compliance guidelines.
Pleasant Valley is known as a direct lender with high regard for integrity, ethics and customer service.  We try our very best to provide each client with options to meet their financial goals.  It does happen, though, that due to the condition of a home, the sale of a home or other house-related issues, we are unable to provide financing.  The mortgage industry is very careful about the kind of lending it offers today, and Pleasant Valley Home Mortgage takes its role in this seriously.
Unfortunately, since this only complaint is done anonymously, I am unable to comment more specifically; I can only respond to what was offered.
Please review our stellar record on www.bbb.org for more third party information on Pleasant Valley Home Mortgage.


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