For the purpose of my complaint, Argent Mortgage Company LLC located at 44 South Broadway, 16th Floor White Plains, NY 10604 1-866-345-6334 and Fax 1-800-396-2158 will be referred to simply as Argent Mortgage.
For the purpose of my complaint, Argent Mortgage Company LLC employee Mr. Eliazar Suriel, Division 02- Reg 07 Sales 1-866-345-6334 extension 53617 will be referred to as Mr. Suriel
For the purpose of my complaint, mortgage brokers: Todd Van Ee and Rob Patti of America's Home Loan Corporation located at 1360 Powers Ferry Road, Suite C100 Marietta, GA 30067 1-678-368-9398 and fax 1-775-295-5385, will be referred to collectively as AHLC.
My complaint comprises of the following statements:
I. Argent Mortgage has caused, encouraged, or permitted AHLC to commit unfair and misleading acts in order to induce myself in entering mortgage transactions for my property located at 3729 SW 15th Street, Gainesville, FL 32608.
II. Argent Mortgage has committed unfair and misleading acts in order to induce myself in signing new loan documents subsequent to already closing a mortgage loan with Argent Mortgage, including making fictitious guarantees.
Several weeks prior to closing a loan with another mortgage company, AHLC contacted me and informed me I could save much more money on a home loan if I applied through their office. Representatives of AHLC told me that only their office could offer rates and terms that are favorable to persons of my credit standing. Within the course of several weeks, AHLC engaged me into a mortgage loan with Argent Mortgage.
AHLC used unfair tactics such as bait and switch, offering me appealing terms at the time of application, however switching them at the time of closing. These terms include but are not limited to: higher note and annual percentage rates than previously offered, the presence of pre-paid penalties and terms not mentioned in previous documents or revealed in TILA disclosures.
AHLC also told me that I would be able to obtain a much more favorable refinance within twelve months. However, due to the loan's 36-month prepayment penalty, I would in fact not.
AHLC misrepresented the terms of the adjustable rate provision in loan xxxxxxxxxx-9607. Failing to describe how the loan would in fact adjust, I was unaware of the variable rate feature included with my loan until closing. Upon contacting AHLC by telephone after the closing, AHLC mentioned, Yes, we did tell you the rate terms were fixed, fixed for three years.
AHLC fabricated a stated income amount to maintain my eligibility for the loan, and instructed me to sign off on the amount so I may be approved for the loan.
AHLC denounced the integrity of the Truth in Lending document and told me to ignore the unfavorable rate and cost figures it contained.
AHLC failed to notify me of the possibility of purchasing points to lower or curve my annual percentage rate.
Closing on both loans took place July 13th 2005. One week subsequent to closing, Argent Mortgage employee Mr. Suriel contacted and informed me that I must resign certain closing documents. He mentioned Argent Mortgage lost these documents.
Unhappy with the loan items mentioned above, I told Mr. Suriel that I was hesitant to resign any more loan documents with Argent Mortgage. Mr. Eliazar offered me a check for the amount of $200 and the promise that I would not have to pay a prepayment charge as specified in the original closing documents.
I accepted this arrangement and received a DHL overnight envelope the following day. Following the explicit instructions of Mr. Suriel, I opened and signed the documents enclosed in the envelope, received the check and sealed the envelope for DHL to pick up on the following day.
Mr. Suriel provided very explicit instructions to not copy or record the documents prior to sending them back and to sign in the same color ink, preferably using the same pen and date as I did on the original closing documents.
Mr. Suriel told me that once he received these documents, he would send me the new loan information stating the prepayment changes within 5-10 business days, which I never received.
Within the last year, I have made several requests through Argent Mortgage to get a copy of the new loan documents or speak to Mr. Suriel regarding our transaction, all of which have been denied.
On December 4, 2006 I requested in writing that the prepayment privilege be reinstated. A reply through Argent Mortgage representative Bryan Jourdonnais located at One City Boulevard West, First Floor Orange, California 92868 1-888-311-4721 extension 10302 and fax 1-949-567-2556 also denied this request.
I recommend an immediate and thorough investigation of Argent Mortgage's business acts and practices. I find the conduct and lending practices of this lender to be misleading and unfair to borrowers, more specifically to those with marginal credit or limited credit experience.
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