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Report: #1451594

Complaint Review: Sovereign Lending group - Costa Mesa CA

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  • Reported By: David — Corona CA United States
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  • Sovereign Lending group 3540 Howard Way, suite 200 Costa Mesa, CA United States

Sovereign Lending group appraisal scheme Costa Mesa CA California

*Consumer Comment: Home Apprasial

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I recently received a call from Sovereign Lending group and worked with Joshua Brindle so my wife and I could get a decent refi done on our mortgage since our interest rate was going to be adjusted to 8.5% the next month.  Everything seemed to be going fine until it was time for the appraisal.  I had discussed with the loan officer that the value of our house should come in around $500k.  This didn't seem to be an issue with him.  So when the appraisal was finished he explained that the appraisal came in way too low.  He said it should have come in at $550k in order to complete the loan.  My wife and I were angry but moved on to another lending company.  We explained to our new lender that we had already had an appraisal done and that we had paid for it.  When it came time to close with the new lending company they refused to release the appraisal and explained that it is their policy not to release conventional loan appraisals.  Never mind that Kamron Rowland who is the director of operations indicated that he would release the appraisal.  Now he is going back on his word.  This makes no sense to my wife and I since we paid for the appraisal.  My feeling is that since the loan didn't work out for them they will make it hard for us and the new lender.  Sour grapes!

This report was posted on Ripoff Report on 07/13/2018 09:35 AM and is a permanent record located here: https://www.ripoffreport.com/reports/sovereign-lending-group/costa-mesa-ca-92626/sovereign-lending-group-appraisal-scheme-costa-mesa-ca-california-1451594. 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 Consumer Comment

Home Apprasial

AUTHOR: Laurel - (United States)

POSTED: Saturday, September 19, 2020

Having your home apprasied is a important issue, however it is the Appraisers responsibility to attend to the issue of a "sound home", and review all aspects.  I had a appraisal done and we passed, however the Appraiser commented on how our home could have done better.  And, they were correct with the issues they brought up new stucco, new landscape, and or fencing around the property.  It is not the responsibity of the Mortgage Company to do, so it is the home owner if you want a better appraisal spend the time and money for one.

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