Report: #677759

Complaint Review: Embrace Home Loans

  • Submitted: Sun, January 02, 2011
  • Updated: Fri, March 08, 2013
  • Reported By: Anonymous — Powder Springs Georgia United States of America
  • Embrace Home Loans
    25 Enterprise Center, Newport, Rhode Island 02842
    United States of America

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

Yes, I did not listen to thepredecessors that told about the rip off scheme from Embrace Home Loans. They take your money, $375.00, for the appraisel of your home and then send an irreputable appraiser to under appraise your home. At that point they refuse to give you the loan and keep the $375.00. So, read all the reviews before jumping in like I did. It is a scam!

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This report was posted on Ripoff Report on 01/02/2011 11:52 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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Updates & Rebuttals


#1 REBUTTAL Individual responds


AUTHOR: Dave Martin - (USA)

This was a nice review from a family I was able to help, and I've actually received quite a few phone calls over the years from other folks looking for a mortgage. I have since left Embrace, but am still working as a Loan Officer with a bank lending along the east coast. if you are looking for some mortgage information with no obligation, please email me at


dave martin

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#2 Consumer Comment

in response to "consolidation loan misleading"

AUTHOR: Amanda - (USA)

Try not to lie about how many homes you own when making a negative comment about a company..kills your credibility moron.

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#3 REBUTTAL Individual responds

Good experience

AUTHOR: Krikie - ()

I  closed on 2-21-14  (FHA home loan). It took only 3 weeks from the time i gave them a contract to purchase a home until i closed. Paul Janke was friendly, professional, and efficient. I highly recommend this company bc they are direct lender- no waiting for weeks for underwriter, they are right there and get it done that afternoon. ( anyway that's what Experienced)

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#4 Consumer Comment

Obama economy???

AUTHOR: Beast69 - ()

How can you refer to it as 'the Obama economy' when bush put us into debt? Are you trying to say bush had nothing to do with it? Wow...that is ignorance or stupidity beyond belief. You are so wrong, yet you believe it. That's how gw got idiots. (And the republican built electoral college.) 2014 should wipe out the conservatives. The most racist and greedy people on earth. America is watching and will not stand for their trickery any longer. The economy is coming back, yet republicans are fighting every good effort...just to smear one of the most articulate speaking presidents I have ever seen. Pitiful, racist, old white men ARE the republican party. Propaganda isn't as popuplar as it used to be! Yes, people need to think, but you don't have to belittle them with hatred. The person admitted they made a mistake, tried to warn others, yet you felt the need to make it worse. That is why I am scolding you. To give you a taste of your own medicine. How do you like me now??!!

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#5 Consumer Comment

Two bad experiences with Embrace

AUTHOR: Mike P - (United States of America)

I applied to refinance my mortgage for a more favorable rate through Embrace.  The customer service was great with one exception.  I was told I was getting the mortgage, then later on told I was NOT getting the mortgage.  Long story short, the credit reporting agency had not updated a formerly disputed item on my credit report.  Embrace asked me to have the dispute removed and there would be no problem.  I contacted the credit agency, I think it was equifax, and they responded.  I kept contacting Embrace to see if I had been approved finally and, after about 8 weeks of bugging the loan officer, I was told no.  Yes I had done the appraisal but I'm not complaining about that.

Last week (late February 2013), I received another "loan pack" from Embrace so I tried again.  After five minutes on the phone with a different loan officer I was assured I was eligible for refinance.  The agent was again pleasant, professional and went through my credit report with me.  Everything was great except for one thing; he called me back an hour later and said no.  Apparently the same dispute still exists on my credit report and caused the same problem.  My question is this: if it appears on the credit report, and it caused a problem the first time, AND this second agent was viewing my previous application and saw what the previous problem was... why would he tell me, as did the first agent, that I was getting the loan? 

The agents, as I said, were professional and pleasant, but they do a lot of dream-talking prior to telling you no.  I was d**n hopeful, especially the second time around because of the difference the loan was going to make in my life.  It was just another disappointing experience.  What I will never understand is why a lending company can look at my mortgage payment history at my high interest rate, see no missed payments at that rate, and somehow determine that I will be unable to make my payments at a more favorable rate.  Lenders are pigs all the way around.  I've since determined that I am bound and determined to pay off my mortgage and few other remaining debts and never use lending institutions again. 
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#6 Consumer Comment

Embrace Home Loans

AUTHOR: frank - (United States of America)

I must say the loan process was fair and straight forward. The appraisal few I thought was high but the appraiser was thorough and in the ball park for what I was being taxed on.The loan process was time framed around FHA procedures, (3months) my credit was good and I got the loan. I don't know what happened to the person who thinks he was ripped off , but I found the comapny to be good. Frank McLAughlin
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#7 Consumer Comment

"Consolidation Loan" Misleading

AUTHOR: Ashley - (United States of America)

I received a flyer in the mail about a consolidation loan from Embrace. When I called, all the agents were interested in was a new  or refinance of a home loan. I only own 1 home (not my primary residence) that still has an outstanding mortgage and I have a home equity line loan on my primary res. which together equals about 60K. I wanted to consolidate at a lower interest rate and get about 10K spending money. When I told the agent I only wanted 70K he hung up on me. Very unprofessional and rude. I own 4 homes and have excellent credit. I am a lenders dream. Don't understand this company at all.
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#8 Consumer Comment

Well I DO look for negative reports first!

AUTHOR: Rich70072 - (United States of America)

To the guy that says no one would look for negative reports first:
WRONG! I have been coming here for years, checking on companies for negative reports BEFORE I do business with them! YOUR logic is flawed, not the poster's! Why don't you go get a sandwich, or at least learn how to spell it!

With that said... I am about to pick up the phone and call Embrace right now from a direct mail flier. I am a REAL consumer, being screwed by MGC Mortgage at the moment who is trying to foreclose on my house for monies not owed. This is what MGC does.

Their flier says they usually close mortgages within 21 days... I don't believe that, but I have everything ready, so if they can, I would be the prime candidate to close at this speed. We'll find out!

I will report back if and when the loan closes with a report.
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#9 General Comment

Blaming Obama for the housing market crash

AUTHOR: Ken - (United States of America)

In response to "Did you R.T.F.I.? ,read the instructions especially the enclosures?"  (AUTHOR: Archangel55 - Magna (United States of America):

My reason for getting on this web site was to read reviews of Embrace Home Loans, and in doing so came across the entry above, putting the onus for the bursting of the housing market bubble on the Obama administration and the "Damnocrats".  This is simply not true. 

The primary reason for the crash in the housing market was unscrupulous lendors giving loans to people who couldn't afford them, then bundling these home loans in complex investments (remember toxic assets?) and selling them, often to unsuspecting individual investors.  It was the unbridled greed of investment bankers that caused the housing crash, not policies put into place by the Obama administration.  
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#10 Consumer Comment

Logic should ALWAYS be considered...

AUTHOR: Karl - (United States of America)

Dear "Sounds like Sour Grapes to me",

When trying to come up with a phony message (regardless of whether you are for or against), Logic should ALWAYS be considered before deciding what to write. Case in point... you wrote,

"I didn't even look up the negative information about this company.  There isn't a company in this country that you can't find a "negative" report on."

Hmmmm... if you "didn't even look up the negative information about this company", then why am I on Ripoff Reports right now, reading your message regarding negative information about this company? Is it your habit to randomly lookup negative information posted about companies, with the sole purpose of letting all possible interested parties know that you do NOT look up negative information about companies? Logic is missing from your message, in the "catch 22" vein of unlogic! Do you see what I mean?

Take your time... make a sandwhich... have some potato chips... however long and whatever it takes for you to catch on. I am sure that with enough time and effort, you will see what I mean. It is very unfortunate, but your message has a very powerful odor to it, that being of the male-cow excrement genre. Me thinks that it is a company rep who is posing as a caring, overeager former customer, bent on keeping the shine and polish on the company's reputation.... hmmmmmm?

Now, I am confident that should you read this message, you may feel compelled to invent some sort of rebuttal, which will be with the intention of injecting the logic which previously was missing from your first message. So, may I say in advance of your rebuttal to all who are now reading the postings on this page, consider the sum of all that is said, then come to your own conclusion. As for me? The odor is MUCH TOO STRONG for me to EVER consider their services... but in all fairness, I am a bit biased because as a general rule, I am VERY suspect of ALL institutions that are in the "business" (smirk, chukle, chuckle) of buying and selling MONEY! But that's just me!

..."just me".
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#11 Consumer Comment

ripped off

AUTHOR: been there - (United States of America) are a f-ing lair.  they ripped people of and they need to be shut down now.
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#12 Consumer Comment

Positive Experience with Embrace

AUTHOR: Random_Login - (United States of America)

I recently closed with Embrace, my experience was an unqualified success.  I have nothing but good to
say about Embrace as a whole, and my loan officer (David Martin).  I received customer support well 
above and beyond what I expected.

The appraiser that was sent out was from locally contracted company. The individual was a local and has been doing appraisals in the area for 15+yrs.  He was fast, and through.  My appraisal came back slightly
lower than I had been anticipating (but still well over what I needed).  I was a little miffed by that until I
started digging and realized that it was spot on  for how the market has slumped, and I was holding on to
the idea of what it was a few years ago when things were better in the market.  

My wife had to quit working due to medical issues and our household income fell by almost 50%.  We
managed for awhile, but it became clear that we needed a "way out".  We decided to refinance the 1st
and second mortgage and throw the car note and a couple CCs into the mix as well.  We had a large
padding in equity over and above the those combined in the house.  However, due to some missed 
CC payments and reduced income a lot of mortgage providers didn't even want to talk to us.

Embrace was up front from the start and said they would try to work with us and get what we wanted.
Embrace was not only able to get us the loan we needed, but also was able to get us a really great rate
(as good as the others who wouldn't give us the time of day).  

In addition, my loan officer (David Martin) went way above the call of duty in helping get things resolved
with my CC creditor and smoothing things with them during the process of my closing (money from 
closing was used to pay off said CC, but the CC company was being difficult).  

I have and will recommend both Embrace and David Martin in particular at Embrace to all who ask.

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#13 Consumer Comment

Did you R.T.F.I.? ,read the instructions especially the enclosures?

AUTHOR: Archangel55 - (United States of America)

This is nonsense!  The appraisal is conducted by a private individual and not by an Embrace Home Loan employee.  If you had read the Terms and Disclosures carefully you would have realized that appraisal fees are non refundable.

Due to the Obama Economy, many homes have lost value, as a result a home that appraised at $200K five years ago no longer has the same value.  If you want to file a complaint, do it at the ballot box in November and get rid of the real problem...The White House denizens and the Senate Damnocrats!
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#14 General Comment

Embrace Homes Scam NOT TRUE

AUTHOR: shay - (United States of America)

It sounds like sour grapes here.  Of course you will not get back the appraiser fee once the appraisal is done.  They need to be paid.  If you think your appriasal is off did you compare what other homes in  your area with the same details were going for.  Because that is also considered in the appraisal.  This company has been very good working with us.
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#15 REBUTTAL Owner of company


AUTHOR: Amy J - (United States of America)

Sorry to disappoint you but it is not just this company, they all do it! Best thing is before you refinance, have a realtor friend give you some recent comps so that you can see if it will appraise. Sometimes the bank appraisals are way off and you can refute them, sometimes, your house just isn't worth what you thought it was. So go in knowing if you will appraise. And be aware, if it is close, it may not go through. BTW-you can usually get a realtor to do it for free, and most even knowing that you aren't selling, are very happy to help.
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#16 Consumer Comment

Good results

AUTHOR: DiddieinWV - (United States of America)

I read the reviews after I applied for a loan with Embrace and must admit I was very apprehensive after reading them but they came thru and everything was finalized in about 6 weeks from the first time I spoke to the loan officer. I saved about 80 thousand dollars by refinacing and using this company because of the low rates.  I was very pleased with using Embrace and would recommend them to anyone. I am not in any way affiliated with Embrace and had never heard of the company until I received the flier in the mail.
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#17 UPDATE Employee


AUTHOR: Honest Abe - (United States of America)

True, there are dishonest people.  Embrace apologizes to this dissatisfied customer. There are over 200 originators that work at Embrace Home Loans and not everyone is honest at all times.  However, Embrace Home Loans has an excellent reputation.  

Embrace has the highest rating in the industry positioned in the top ten of the largest originators of Federal Housing Administration (FHA) loans in the country. Embrace Home Loans has an A++ BBB rating.  Embrace stands by their people and their principles to put the customer first.  Embrace will address all complaints and will rectify the situation with any dissatisfied customer.  

We have earned the most prestigious awards for the past 29 years, pioneering customer focused solutions with professionalism, integrity and courtesy.  Embrace invites you to sample the quality of commitment that you deserve.  Please feel free to be our guest and join the over 20 thousand satisfied customers that have experienced being treated with dignity and personal concerned unparalleled in the industry.

God Bless you and God Bless America
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#18 Consumer Comment

Great Experience twice with Embrace

AUTHOR: LT - (United States of America)

I have used Embraced home Loans twice to refinance and had a very positive experience both times; resulting in a great interest rate and I did not have great credit. The are quick easy to deal with and honest.

The home evaluation was right with in line of what I expected! Even a little higher!

I would use them again without hesitancy and would refer my family and friends!!!
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#19 Consumer Comment

Flawed process

AUTHOR: Lamac66 - (U.S.A.)

The job of a media relations specialists is to spin. I was disappointed with Embrace loan process after my closing dat had been changed three times within 24-48 hours prior to set closing date. Each time they wanted explainations about items on documents that should have been caught during the intial document request.

Each time I would provide the requested explaination or documents and would not hear about any problems until the 1-2 days prior to the schedule closing date. Keep in mind that we were told that all documents would be at closing attorney's office 48 hours prior to closing.

The requested explaination and document requests seemed reasonable however the timing was unreasonable. Keep in mind that we were working on the original premise that all documents had to be provided to the closing attorney's office 48 hours prior to closing so that they can review them.

Meanwhile  after we provided said documents my wife and me were under the impression that everything was a go and the closing was still set to take place 48 hours later. We would not hear of any problems until the last minute from Embrace. Then we would get a call from Embrace the day before closing saying they need more documentation or explainations.  This happened three times.

The last straw for me is that after the third time this incident took place the Embrace underwriter stated the closing attorney's need the documents 4 DAYS prior to closing instead of the previous 2 days that had been stated throught this whole process.

The loan officer and underwriter then began too tell me two different things. I lost the chance to purchace a good house because of this along with $500 earnest money, 375 appraisal, 275 home inspection. Then I did some research on the company and found many complaints against them stating the same experiences that I had!! The BBB has them rated as A+. Read the complaints and how the BBB rates companies. The review comments tell the real story!!!
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#20 UPDATE Employee

The problems with appraisals...

AUTHOR: ChipLeakasEmbraceHomeLoans - (United States of America)

Not sure how much this will mean to everyone, but I am from Embrace Home Loans, and there are some things you need to know about what we can do, and what we cant.  We recognize that people will be frustrated, upset even, if the value of their property comes in lower than they anticipated, so we understand the reasons why people voice complaint over that issue.  But here are some important points to know:

1 We do not know what anyones home is worth at any particular time.  We need an appraisal to show that somebody has the equity ( "equity" means that the homes appraised value must be greater than any and all combined current mortgages on this property) to qualify for the loan they want, and that an appraisal is the only way to accomplish that. The home is the collateral for the loan.

2 We cannot even hint to an appraiser that the value needs to be at a certain level to qualify.  Federal Law prevents any such communication with the appraiser by any lender. We are an approved lender for government agencies such as FHA, VA, USDA, Fannie Mae, and Freddie Mac, etc. who insure the loans. Therefore, we must adhere to the strict government agencies policies and guidelines when we offer a government insured loan.

3 We have to provide the appraisal report (produced by the appraisal company) for approval based on the government guidelines that are set by Fannie Mae, Freddie Mac, FHA and similar agencies.  If a situation on someones property doesnt meet with these government guidelines, we have to follow the government agencies direction on the acceptance of this property as collateral for the loan.

4 We dont receive a single red cent from the appraisal fee anyone pays.   That entire amount goes to the appraiser and the appraisal management people, and if the loan doesnt go through, we lose too. It is against government regulations to keep the funds collected on behalf of the appraisal company.  The appraisal companies are paid for their time to research and write the appraisal reports.  Embrace Home Loans is not compensated for "ordering appraisals".

Again, I understand your frustration, but Embrace Home Loans is not out to hurt anyone.  The reality is however, that we are not able to help everyone, either.

Some information relating to Embrace Home Loans and business:
Embrace Home Loans was founded in 1983 and has an A+ Rating with the BBB of Boston.  
(A+ is the highest rating possible). We are licensed in 46 states:

Time and time again, Embrace Home Loans has been recognized for its excellence in the workplace and devotion to community service. These awards reflect our commitment to self-improvement as we grow older and wiser.

  • Inc 5000: 2010

  • 50 Best Small & Medium Companies to Work for in America:2004, 2005, 2007, 2008, 2009

  • The Best Place to Work in Rhode Island: 2006, 2007, 2008, 2009, 2010, 2011

  • Business Excellence Award for community involvement 2006
In the News:

William W. "Chip" Leakas, Social Media Specialist
Embrace Home Loans  NMLS # 2184            
 25 Enterprise Center
 Newport, RI 02842-5201
 Tel: (401) 846-3100 x3305
 Toll Free: (800) 333-3004
  Fax: (401) 851-5621
 Quote: Get Social, get connected!
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#21 Consumer Comment

Sounds like Sour Grapes to me

AUTHOR: Archangel55 - (United States of America)

I didn't even look up the negative information about this company.  There isn't a company in this country that you can't find a "negative" report on.

When I contacted Embrace Home Loans Inc.  I was treated with a great deal of respect and professionalism, the representative has fulfilled every promise made to me and we have had a very positive experience.

As far as undervaluing property by a disreputable appraiser, in order to "rip off" your $375.00 appraisal fee it is a standard in the industry and has been explained by every lender that the appraisal fee is non-refundable, whether your application is accepted or not.  The appraisers are doing their job, and deserve to be paid.  It is rather inconceivable that a company that has been in business as long as Embrace Home Loans would risk their company for that small amount of money.
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#22 Consumer Comment

I had a positive experience

AUTHOR: Rose - (United States of America)

I had a good experience with Embrace Home loans. My loan was processed fast. I got a great rate.

The appraiser was someone from the area and highly regarded with many years of experience. I requested a copy of the appraisal and reviewed it myself as I am a land appraiser and I found the appraisal to contain good comparable sales and to be thorough.The appraised value of my home came back a little higher than I expected and when I reviewed the comps I understood why.

I was pleased with my experience with Embrace. They returned all of my phone calls within the hour any time of day or night. They responded to my emails quickly. I can not speak for anyone else but my experience with Embrace Home Loans was very positive.

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#23 UPDATE Employee


AUTHOR: Jay - (United States of America)

I can understand people when they get upset with us in regards to appraisals, but please look at federal guidelines, specifically the Home Valuation Code of Conduct, which basically means that we as a lender, cannot and we do not have any contact with an appraiser. All appraisals have to be ordered through an appraisal management company, which we have no affiliation with, but because of the guidelines the federal government have in place we can't even ask an appraiser how similar homes in the neighborhood have been selling. Our hands are tied.

We do not get anything in compensation when we order an appraisal we get paid when a loan closes. So just an appraisal means nothing to us until the loan closes. Disappoint falls on both of us, the homeowner and your loan officer.

Because of the appraisal management company receives the money, once again we do not receive the money, the appraisal cannot be refunded. You do get your appraisal because it is yours. If you do order an appraisal and you do not receive the appraisal from yopur loan officer just call and speak to another loan officer and one of us will be glad to send you a copy.

Once again, I know how disapointing it is too have your home at a lower value than you espected.The federal government has these guidlines in place beause they feel it will help with the values of homes, but because of this homeowners are getting hurt more.

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