Complaint Review: Prospect Mortgage
Prospect Mortgage Completely incompetent, unable to actually take a mortgage to closing Internet
Finally, when we simply could not take any more I gave them a 3pm deadline on the 24th to have the commitment letter and to be ready to close on the 29th of May as the contract stipulated. 3pm came and went with no contact. at 4:30pm I had our attorney send out a cancellation to everyone. At 5:22pm I sent a scathing message to all the Prospect clowns advising them of our disappointment and confirming the cancellation. 5 minutes later I get a phone call from Gavin Ales, Head of compliance, apologizing for not calling me back as he had promised and blaming someone else who was apparently supposed to have called me instead. Within minutes of that I finally recieved the commitment letter, peppered with additional conditions that had never been communicated to us before and advising that the commitment would expire 5/29, a date that Prospect said they could not be ready to close anyway.
No one spending this kind of money, and being forced to accept a 6% interest rate, along with incredible fees and charges, should be treated this way. Ray Duran even tried to play stupid with me (wait, maybe he wasn't playing) when I asked for a GFE. He acted like he had never heard of this before and actually wrote back to me that the only thing they charge is $895 for origination and that the rest is only state taxes and title fees. Really? Maybe you can explain then why the GFE that I finally did recieve showed over $4000 in "discount points". And even with that they wanted to screw me for 6.375%.
Really, if your real estate person mentions Prospect Mortgage you should run for the hills. They turned the process of buying our dream into a total nightmare. Criminals from the beginning.
This report was posted on Ripoff Report on 05/27/2012 06:51 AM and is a permanent record located here: http://www.ripoffreport.com/reports/prospect-mortgage/internet/prospect-mortgage-completely-incompetent-unable-to-actually-take-a-mortgage-to-closing-888933. 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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