• Report: #848337

Complaint Review: Reliance First Capital

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  • Submitted: Sat, March 03, 2012
  • Updated: Fri, March 30, 2012

  • Reported By: William — Montgomery Alabama United States of America
Reliance First Capital
14120 Ballantyne Corporate Place Charlotte, North Carolina United States of America

Reliance First Capital Verified REVIEW: Reliance First Capital commitment to customer satisfaction. Reliance First Capital continues to provide a superior level of customer service to homeowners looking for mortgage solutions.
*UPDATE: Reliance First Capital LLC (NMLS # 58775) enrolls in the Ripoff Report Corporate Advocacy, Business Remediation and Customer Satisfaction Program. A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. Reliance First Capital is recognized by Ripoff Report Verified

*Consumer Comment: To Larry Karpen and company

*Author of original report: Setting the Record Straight

*UPDATE Employee: Further Clarification

*Author of original report: Confidence Restored

*Author of original report: Rebuilding Confidence

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Ripoff Report Verified REVIEW:

EDitors UPDATE: A positive rating and recognition has been given to Reliance First Capital, LLC (NMLS # 58775) for its commitment to excellence in customer service. As a direct-to-consumer mortgage lending firm, they know that their customers are their number one priority so providing great customer service is always their focus. Their dedication to superior customer service is fortified by continuous employee training on many levels. Furthermore, I think its important to point out that their Mortgage Analysts go through rigorous testing and background checks by the Federal Government, State Governments and by the organization itself. Also, every one of their Mortgage Analysts is registered with the National Mortgage Licensing System & Registry (NMLS) as is the company (NMLS ID: 58775). All of this should give you, the consumer, a strong level of comfort when dealing with both their company and their Mortgage Analysts.

Most of the information provided in this report is based on comments made by Larry Karpen during an on-site inspection held by a third party verification company with no biases toward Reliance First Capital.

Reliance First Capital handles millions of phone calls per year, works with hundreds of thousands homeowners and has closed billions of dollars in loans. The Company has thousand of satisfied customers across the nation who have obtained their financial goals and improved their lives because of the dedicated mortgage specialists at Reliance First Capital who provided excellent customer service.

Larry Karpen, a Vice President at Reliance First Capital, has spoken with Ripoff Report and he further confirmed their Companys commitment to customer service. As a direct-to-consumer lending firm and we never forget that we are here to serve our customers, explained Karpen. So much so, that after a loan is funded, we ask all of our customer to complete a survey and rate their experience. We showcase the results on our website for all to see as well as comments/testimonials that our customers have authorized us to provide. That is just one way how we continue to ensure that our dedication to superior customer service is maintained.
Reliance First Capitall is Rip-off Report Verified
Ripoff Report Verified .. part of Ripoff Report Corporate Advocacy Business Remediation & Customer Satisfaction Program.A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business..



At Reliance First Capital, the entire process begins and ends with our experienced Mortgage Analysts, continued Karpen. And, as stated previously, theyve been put through rigorous testing and background checks by the Federal Government, State Governments and by our organization. Also, every one of our mortgage analysts are registered with the National Mortgage Licensing System and Registry (NMLS). In addition, consumers can be comforted to know that any information collected by our Mortgage Analysts is entered into and kept in our secure password-protected proprietary loan origination system, so you can be sure your information is safe. The safety and confidentiality of personal information is, and will always remain, of paramount importance to Reliance First Capital. Headquartered in Melville, NY, the Company has helped thousands of homeowners realize their financial goals by refinancing a current mortgage or procuring a new home mortgage. With over $1.5 billion dollars in loans originated, the Company has six origination centers located in Tennessee, Pennsylvania, New York, Ohio and North Carolina. The Company serves homeowners in 25 states across the nation and has recently been voted a TOP TEN company by customers on LendingTree.com. The Company offers a wide range of loan programs including FHA, conventional, VA, Jumbo, USDA and more, and works with consumers with all types of credit history.

The typical standard mortgage transaction starts when the consumer contacts Reliance. The client is then assigned an analyst to discuss the desired goals. Once a product is chosen, permission is obtained to run the clients credit. Upon favorable review of the credit report an appraisal is ordered for the client property. If the appraisal is in accord with the loan requested a customized loan program is formulated, client documents are obtained, and a loan package is put together and then forwarded to the underwriting department. The underwriters can approve, deny or request additional stipulations from the client. If all the paperwork is approved a title search is conducted. The final step in the process is to set the closing date and to fund the loan.

Leads are generated through internet services such as LendingTree.com or LowerMyBills.com or they are received through telemarketing. Once a lead is generated a sales call is made to discuss the consumers needs and goals where a customized loan program can be established.

The companys standard practice for follow up is that a manager will call all new clients to ensure that their goals are being met and to explain any items that are not understood. The manager also provides a second point of contact with the client. Follow-up is also done when the customer surveys are received. If the customer expressed any issues or concerns a manager will call them to discuss the problems and to find ways on how to improve.

Furthermore, Reliance First Capital is working to enhance current processes by holding weekly staff meetings with personnel. Discussions include what is working well and how they can correct items that need improvement. Employees receive ongoing training and education while employed with the company.

The most common complaint the company receives is that the consumer was not happy with or did not agree with the appraisal report. When this scenario occurs the consumer occasionally demands their money back. Because appraisals are conducted by a 3rd party which is in no way affiliated with Reliance First Capital, the company has no control over which appraisal company is chosen. The work was completed making it that the appraiser is entitled to payment even if the client is not happy. This is explained to the client both before and after the appraisal is done. There have been instances where Reliance has refunded the client out of their own pocket. A standard practice that Reliance uses is to generate a survey after every deal is completed. An example of this is Reliance recently had a client who felt that the appraisal report was not correct. Reliance reviewed the report and even though they found no errors or wrongdoing they refunded the client the cost of the appraisal. The customer was satisfied with the outcome and sent an email thanking Reliance First Capital.

Reliance First Capital ensures that there is a clear and constant communication with their clients. Any customer concerns or issues that arise are handled promptly and efficiently by the customer service department. Since Ripoff Report, every complaint received is now personally addressed by the customer support supervisor via telephone. This occurs usually within the first 24 hours that the complaint is generated. Reliance First Capital has also enrolled in the Corporate Advocacy Business Remediation and Customer Satisfaction Program.

The company feels that it is a benefit to be associated with the Corporate Advocacy Business Remediation and Customer Satisfaction Program. By being a part of the program it shows existing, as well as potential clients that Reliance First Capital has concern for and cares about their clients. It highlights that even great companies get complaints from time to time, and part of a measure of a company is how it handles those complaints.

Reliance First Capital recognizes that complaints posted on Ripoff Report (whether true or not) are issues that need to be addressed, not ignored. They realize, if handled correctly, complaints can be valuable learning opportunities. With the feedback generated by Ripoff Reports review, Reliance First Capital has made organizational changes allowing its clients and employees a more streamlined approach to problem resolution and a commitment to a great client experience.

In summary, after our investigation, which included discussions with Reliance First Capital, Rip-off Report is convinced that the company is committed to quality delivery of services resulting in total client satisfaction.

Read more about why consumers should feel confident when doing business with a member of Ripoff Report's Corporate Advocacy Business Remediation & Customer Satisfaction Program. Yes, its a long name for a program that does a lot for both consumers and businesses alike.

Read about Ripoff Report Corporate Advocacy Business Remediation & Customer Satisfaction Program,.. A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. this program works.

As a matter of policy, when a business becomes a member of the Corporate Advocacy Program they agree to allow Ripoff Report to contact every client who filed a complaint so they can make things right with them. In order to confirm that the complaints were resolved, Ripoff Report is copied on all responses so we can insure that the member business did right by their customer ..

======= NOW TO THE ORIGINAL REPORT THAT WAS FILED

======= Reliance First Capital David Kluesner Not obtaining customer's informed consent Charlotte, North Carolina

I was contacted by Reliance First Capital regarding refinancing my mortgage.  I was required to pay $450 for a home appraisal.  I asked if I could obtain my own appraisal, which would be cheaper.  The agent informed me that no I could not, that it had its own appraisor/contractors.  I was informed that I would receive a copy of the appraisal.  I paid the agent over the phone the appraisal fee. 

I completed the loan refinance package, and was later informed that everything looked good and the company was only waiting on the appraisal.  I was given an expected closing date around mid November 2011.

The agent telephone me a couple of days later and stated that the appraisor was unable to complete the appraisal because a manufactured home was also on the property.  I informed the agent that I was here when the appraisor appraised the property.  The appraisal was completed, therefore, I did not understand why the appraisor could not complete the report.  I asked for a refund of the $450 or a copy of the appraisal I paid for.

The agent informed me that it would deduct $150 from the $450 for the appraisor's expenses.  I explained to the agent that I expected a full refund or an appraisal.  That at no time prior was I informed that I may not get an appraisal after it was paid for, nor was I informed that I would have $150 deducted from the money paid if the appraisor decided he could not complete the appraisal.  I would not have paid for an appraisal if I knew I may not receive an appraisal, or that I could lose $150.  I do not have $150 to pay someone to walk around my property.   

It is almost 4 months later and as of yet I have receive nothing.  Not a refund nor an appraisal.   Reliance First Capital has not responded my letters.  However, when the company was trying to get my business it seemed as if the agent was calling me everyday.        

This report was posted on Ripoff Report on 03/03/2012 08:48 PM and is a permanent record located here: http://www.ripoffreport.com/r/Reliance-First-Capital/Charlotte-North-Carolina-/Reliance-First-Capital-Verified-REVIEW-Reliance-First-Capital-commitment-to-customer-sati-848337. 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.

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REBUTTALS & REPLIES:
3Author 2Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

To Larry Karpen and company

AUTHOR: voiceofreason - (United States of America)

All y'all managed to do by posting your unnecessary followup 2 weeks after the OP last posted here, was to make your company look worse, and NEEDLESSLY piss the OP off again, after she made it clear she was now satisfied.

Y'all got to know when to do "damage control" posting, and when not to.

Y'all just beat a dead horse back to life, for nothing, and undid the good will the customer had thrown your way 2 weeks prior.

Bottom line that most readers here will take from this is that at the very least, y'all have lousy communication with customers.
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#2 Author of original report

Setting the Record Straight

AUTHOR: A. Rowell - (United States of America)

In response to Mr. Karpen's rebuttal. 

Yes, I did receive a $300.00 credit in November 2011.  However, I had no idea the credit was from Reliance First Capital.  

First, I paid $450.00 for an appraisal not $300.00.

Second, there was nothing on the statement to identify the credit as being from Reliance First Capital.  The statement showed a credit from "PA Moon Township" for $300.00.   First Relaiance Capital was not responding to my contact request, and did not inform me that I was receiving or should have received a credit. 

Third, I regularly check my bank statements online, and do not believe is's necessary to open up every paper statement. 

Forth, the fact that I received a partial refund in November 2011, and did not receive notice of it from First Reliance until March 2012 speaks for itself regarding First Reliance failure to respond to my attempts to contact it regarding the refund.

Fifth, I did not received a complete refund until March 2012.  And that was after I filed a complaint on this site.  

Six, the fact remains that I was not given all the information that was needed to make an informed decision.  I think it's awful that the majority of the complaints I have read regarding Reliance First revolves around its failure to give customers up front information. 

Finally, David Kluesner was always courteous and professional during our conversations.  However, the fact remains that several months passed without my attempts to contact David or the company being responded to.  I do not think it was a lack of caring or trying on David's part.  Based on the similar complaints I have read on this site, I think it may be the company's policy.
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#3 UPDATE Employee

Further Clarification

AUTHOR: Larry Karpen - (United States of America)

Mrs. Rowell,

Thank you for taking the time to update your posting.  And Im glad I was able to assist you with this matter and that your confidence in our firm has been restored.

That said, I would like to clarify the issue a bit more for any customer who reads this post to ensure that they receive a full and accurate account of what happened.

The Rowells, in fact, received their $300 refund on Nov. 4th of last year, just DAYS after
the appraiser visited their property.  Unfortunately, at the time they made this posting, they had not realized that they had already received the refund, as it was credited to their bank account and their bank did not notify them of the credit and they had not checked their bank statements.  Thus, the customers original claim that four months had transpired without any refund was wholly inaccurate.

Having spoken with the Rowells, I believe that their initial post was made out of frustration, and not intended to be malicious.  Nevertheless, the unfortunate result was the posting of false and irrevocable comments about a good man, David Kluesner, and our firm, Reliance First Capital, which cannot now be undone.  So again, I ask anyone who is considering posting comments to this site to contact our company at 866-735-9004 to discuss the matter first.

Sincerely,

Larry Karpen
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#4 Author of original report

Confidence Restored

AUTHOR: A. Rowell - (United States of America)

David Kluesner forwarded my complaint to Larry Karpen.  They were very courteous and diligently worked on my behalf to ensure I received a full refund.  Full refund received.  Thanks to their efforts my confidence in Reliance First Capital has been restored.      
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#5 Author of original report

Rebuilding Confidence

AUTHOR: A. Rowell - (United States of America)

Larry Karpen of Reliance First Capital is diligently working on my behalf and has informed me that I will receive a full refund.  $300.00 has already been refunded and I should receive the balance shortly.  The recent service that I have received from Mr. Karpen, and David Kluesnerl has been very good.  My confidence in Reliance First Capital is being restored.  I will update when the complete refund is received. 
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