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Ripoff Report | Surepoint Lending Review - Tampa, Florida
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Report: #583147

Complaint Review: Surepoint Lending - tampa Florida

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  • Reported By: sandy — wesley chapel Florida United States of America
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  • Surepoint Lending 4860 w. kennedy blvd tampa, Florida United States of America

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Surpoint lending lauren frank supplies you with their home appraisers and then sends craig di cecco  to do an appraisal review to decrease the value of your home in order for surepoint to increase your interest rate, make you bring $5000 to closing or charge you with mortgage insurance. this mortgage company is scamming the public out of money. they need to be stoped.

This report was posted on Ripoff Report on 03/19/2010 07:09 PM and is a permanent record located here: https://www.ripoffreport.com/reports/surepoint-lending/tampa-florida-33609/surepoint-lending-lauren-frank-tampa-florida-583147. 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

Market dictates value of home and appraisers, not lenders, assign that value!

AUTHOR: Customer care - (U.S.A.)

POSTED: Monday, March 29, 2010


I'm sorry you were not satisfied with the apprasied value of your home, but the lender does not dictate or influence the appraised value of any property.  I'm sure you also know that according to HVCC, a lender can have no direct correspondence with appraisers, or in any way influence value.  Lenders order appraisals through an appraisal management company, and that management company assigns the appraiser. Once the report is completed, the management company provides the lender with that report. There is no benefit to us to lower value. Our goal is close loans, so we want the best case scenario for our customers.

Tampa is a declining market with a high rate of delinquency, and a field review was required for your loan. Field reviews are often required in markets such as Tampa to ensure the appraised value is accurate. The field review showed an even further reduced home value on your property. We made adjustments to your loan proposal based on the actual value of your home. Lauren offered you 2 good options based on the updated numbers. One was a proposal that saved you $250 per month.  The second was an option to bring money to closing and avoid PMI, saving even more. You declined both of those offers.

To reiterate, the loan advisor/lender has no influence on the appraised value of your home. We are sorry you were not pleased with your options, but the value of your property is beyond our control and we can only base our final offers on documented and verified information.

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