ED Magedson – Founder
Optimum First Mortgage8900 Warner Ave. Fountain Valley, CA Fountain Valley, California USA
Optimum First Mortgage Jeff Olson, Senior Loan Officer Misled the mortgage rate. In writing, I was given a rate of 3.75% for 7 ARM mortgage w/no cost. Told loan approved. At last minute told me there had been a mistake and the closing cost would be $3000. Fountain Valley California
I was working with Jeff Olson, Senior Loan Officer of Optimum First to obtain a 7 yr ARM. I was given a rate of 3.75% with NO cost. Was told the loan was approved and he sent me an email confirming the loan would be locked in at 3.75%, no cost. Filled out all the loan papers, and waited to hear from him. He finally returned my calls and told me there had been a mistake. The closing cost of the 7 yr ARM would be $3000.
Needless to say I told him NO.
This is either a case of sheer incompetence or a bait and switch attempt.
This report was posted on Ripoff Report on 08/20/2013 11:27 PM and is a permanent record located here: http://www.ripoffreport.com/reports/optimum-first-mortgage/fountain-valley-california/optimum-first-mortgage-jeff-olson-senior-loan-officer-misled-the-mortgage-rate-in-writ-1077631. 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.
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