Report: #99913

Complaint Review: Champion Mortgage Company - Lending Tree - CitiFinancial

  • Submitted: Wed, July 21, 2004
  • Updated: Sat, September 17, 2005
  • Reported By: Roanoke Virginia
  • Champion Mortgage Company - Lending Tree - CitiFinancial
    Two Gatehall Drive
    Parsippany, New Jersey

Champion Mortgage Company and Lending Tree and CitiFinancial rip-offs! Parsippany New Jersey

*UPDATE EX-employee responds: Please re-read your complaint

Show customers why they should trust your business over your competitors...

I was having trouble with paying two mortgages on my home and was interested in refinancing to lower my payments and pay off credit cards. I tried Lending and received an offer from Champion Mortgages for a good rate and a fixed 30 year mortgage. I spoke extensively with Dave Haggerty, a loan officer, of Champion and he sent me a final offer in writing with the assurances that Champion would give us an adjustable loan now and recheck the loan in 12 months to see if we could fit the requiements for a better rate and loan.

He stressed that Champion had sold off less than 7% of their 2003 loans and that as a debt-rebuilding loan customer this should not happen to us. I paid every month on time from Feb to Jun 2004 only to receive servicing sale of our loan back to CITI-Financial on July 15. CITI-Financial is the origninal loan company crooks that we had re-financed to get away from.

I called Champion to ask what happened and explain that we could not be under servicing by CITI-Financial again, and that the loan officer, Dave Haggerty had told us that we should not be sold because Champion would re-evalute our loan in 12 months. Champion said they could not help us. It was a done deal. We are back where we started before the re-finance only with higher interest and adjustable loan instead of a fixed rate. Champion didn't help us, they made our burden bigger and sold us right back to the crooks that riped us off in the begining.

Roanoke, Virginia
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This report was posted on Ripoff Report on 07/21/2004 11:24 AM and is a permanent record located here: 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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#1 UPDATE EX-employee responds

Please re-read your complaint

AUTHOR: Michele - (U.S.A.)

As an ex-employee of the company, I am responding to defend Champion Mortgage on this one. Firstoff, as stated in your opening sentence, you went with Champion Mortgage, because they gave you a "good rate on a fixed mortgage. And you took this loan because it "lowered your monthly payments and paid off your credit cards". So all in all, this loan helped you. Correct? The Loan Officer DID stress to you that 7% of the loans get sold off, and that he would evaluate you in 12 months. He did NOT lie to you in any way. You happened to fall into that 7% category of loans that were sold off.

Your real issue here is CITI-Financial. Not anything else. For you to file a report on this website and try to deter other people from doing business with them is almost laughable. There is nothing credible in your report that would warrent any bad business from Champion Mortgage. Find a hobby instead of finding misleading faults with this company.
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