Report: #615291

Complaint Review:

  • Submitted: Sat, June 19, 2010
  • Updated: Tue, August 03, 2010
  • Reported By: Michelle — fort Worth Texas USA
    4100 Alpha Rd Suite #400
    Dallas, Texas
    United States of America

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


We were misled by just to get our business!!! 

My husband and I wanted  to consolidate our 80/20 home mortgage in April 2010.  We thought we would qualify for great rates based on our credit scores (over 800) and other factors. We told our goals and within a few hours, Mortgage Consultant John Chu sent us a great proposal with excellent rates for 15 or 20 year loans. We were on our way to being  happy customers.  However,  we cancelled our application because we were misled by the proposal and speculate it was to attract our business. We want a refund of $429 and no one has addressed our repeated requests for answers.
While scheduling the home appraisal John Chu sent us an alarming email stating,  "When  you talk to the appraiser tell them you need around $175 or don't bother showing up."    I was puzzled because we estimated our home value at $160 so why do we need around $175? Was John Chu implying we coerce the appraiser to falsify his report if needed?  Is this a common practice in the industry? Should I try to give out a cash tip? We ignored John Chu's warning and our home appraised at $170. This meant we no longer qualified for the terms in our GFE so John Chu had to recalculate using the correct information.  We then became discouraged when we reailzed we wouldnt benefit from a 15 or 20 year loan. However we assumed that would have guided us in our options before we even applied and paid the fees.
From that point we discussed many different options to try to close the loan even the option that we take out a personal $6000 loan to pay against the refinance loan.  I became more frustrated and asked John Chu about a 30 year fixed APR and what our credit union was offering in comparsion. John Chu said he would recalcuate the numbers and let us know.  By the next afternoon we still had not received a 30 year APR proposal from  In addition, we never recieved proof of an e-mail thread from John Chu to validate his claim that he sent it like he promised. We thought if John Chu could validate his statements then we could trust this company once again.

Based on the misleading information and questionable sales practices we cancelled our mortage application. We requested a refund of $429 and when we were told it was non-refunadble, we asked for this documented policy since we only found a "commitment fee of $129 is non-refundable" We never received a reply. We called several times and were directed to several differement voice mailboxes and played phone tag once or twice with one supervisor. We sent a complaint e-mail about this process and  CEO Kevin Miller did reply via e-mail stating he would have feedback soon but we are still waiting. As of this letter I have not received any feedback from What a rip off!

We want our money refunded due to the lack of due diligence from John Chu and as well as their apathetic methods to resolve customer complaints.

By the way we easily obtained a 30 year fixed 5.0 APR with our credit union, I wonder why we didn't   
Sick of greedy sales and marketing,

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#1 General Comment


AUTHOR: Greg - (United States of America)

I would not go so far as to say is a "rip-off" but the mortgage banker I worked with and his assistant were clearly either unqualified or extremely constrained by their underwriters.

We attempted to refinance and after about 45 days and continuing information-gathering questions, we went to another mortgage company we had worked with before.  I had misplaced their file or would have started with them in the first place.  Upon finding it, I contacted them and within three weeks - with less information than requested, lower closing costs and 25 basis point reduction in the interest rate - we were closed.

In my opinion, the mortgage banker really didn't know what he was doing and instead of taking a professional "rifle" approach - based on experience, he took the "shotgun" approach - ask for everything and maybe we can get this done.

You may have a good experience with but I believe they do a high volume business and if they lose some clients along the way, so be it.
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#2 Author of original report

very impressive response/answer to concerns.

AUTHOR: Michelle - (USA)

CEO Mr. Kevin Miller of has provided the **best** customer service in answering our complaint and addressing our concerns. We learned the hard way as consumers that we should forward our complaint by mail and fax as well as email to ensure it will reach the correct destination since this caused a delay in our situation.

When Mr. Miller recieved our complaint he took the time to call us late Friday night on a holiday weekend ( 10 PM  07/02/10).  He then spent an hour discussing options and a game plan. VERY impressive. From that point forward Mr. Miller and his staff kept in contact as we worked out a satisfactory resolution. 

I highly recommend and I will share my experience about their CEO who took the time to address my concerns.



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