Complaint Review: Peoples Banking Unusual - Nationwide
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- Author Not Confirmed
- Peoples Banking Unusual Nationwide USA
- Phone:
- Web: www.bankingunusual.com
- Category: Mortgage Companies
Peoples Banking Unusual Peoples Bank Ripoff/scam Nationwide
*UPDATE Employee: Peoples Bank Customer Service
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This company collects your information for a mortgage loan/refinance and states you are qualified without putting your information through to see if you do indeed qualify. They ask you to pay $400 upfront for an appraisal which comes back low when the loan officer assured you the appraisal would come in at amount the loan officer looked up online. After reviewing the appraisal there were some errors noted in the comparables listed. When asked to have appraiser take a second look at the report was given the run around and weeks went by without even stating if they can do anything with the loan.
Two months have gone by and asked if I could receive a refund for the false appraisal as I had another one done where the value was much higher. I was told sorry we can't do anything. So I ended up going with another mortgage company and found out that if fact I did not qualify for a conventional loan and only qualified for a FHA loan. My appraisal with Peoples Bank was for a conventional loan only. Peoples bank took my information, ran my credit, had me pay $400.00 when they had no clue if I qualified or not. Everything was great from the start however after they received my money and appraisal they avoided me like the plague. Do not use Peoples Bank!
This report was posted on Ripoff Report on 11/14/2014 10:26 AM and is a permanent record located here: https://www.ripoffreport.com/reports/peoples-banking-unusual/nationwide/peoples-banking-unusual-peoples-bank-ripoffscam-nationwide-1188857. 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 Employee
Peoples Bank Customer Service
AUTHOR: Peoples Banking Unusual - (USA)
SUBMITTED: Thursday, September 22, 2016
Dear Anonymous,
At Peoples Bank, we strive to provide great Guest Service for all our Loan Applicants. We are a family-owned company with a reputation of excellence and we have been in business since 1871. We hold an A+ rating with the BBB.
Please allow us to explain: during the initial application and inquiry process, our Mortgage Bankers try to determine what loan product will best fit their Guest's needs. In the process of qualifying a refinance transaction, the Mortgage Banker will conduct research for the area in which the property is located to see if the Guest's estimated value can be substantiated. This step helps to prevent ordering appraisals if the market truly will not support the estimated value. However, though research is conducted please keep in mind Mortgage Bankers are not professional appraisers.
A certified appraiser needs to be hired to conduct and produce this report. All of our appraisals are ordered directly from an Appraisal Management Company (AMC). Peoples Bank does not profit from the order of an appraisal, and this if there are errors or concerns on an appraisal report, all requests for additional research or correction must also be made through the AMC. Appraisals are subjective in nature and no two appraisers will look at property the exact same way. Depending on the market in which the property is located 60-90 days could have a positive or an adverse effect on its value as well.
Without being able to look into your specific loan file, we are unable to address the concern over the Conventional vs. FHA product qualifications. Peoples Bank apologized for any misunderstanding that may have been had during the initial phase of your loan application. If you would like to discuss this matter further, please call Customer Service at 913-681-3030.
Thank you.
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