West Star Mortgage Do NOT let these people handle your mortgage needs abingdon, Maryland

I find it hilarious that you believe a $16k fine for a multi billion dollar company would reflect the company itself at all. Google has been fined millions and millions of dollars, I'm sure you still use them...?

The fine you speak of can be given for a single typo.

This reminds of the commercial where the guy and girl are going back and forth, "so you believe everything on the Internet" " yea the Internet can't lie..."

As a satisfied consumer, personally, stop reading this bologna which was most likely posted by some individual who quit their job in the middle of the process, or was not able to complete the transaction due to their own fault.

ONE LAST THING, THERE ARE MULTIPLE WESTSTARS IN THE US, MAKE SURE YOU RESEARCH THE CORRECT ONE, ZIP CODE 22192!!

I have to say what i read was not only discouraging that you didn't read any of the documents you signed.. By the way, there are 30 documents 70 signatures all for your protection. WestStar has been doing this for too long and has been built on their integrity to stand behind their products. I think your actual complaint just be addressed federally as just from what you are writing you are upset that fed guidelines require you to have cover that will actually cover the bare minimum replacement costs. Your complaint, shows no validity and ONLY makes you look as if you have a deeper underlining issue, because not a sentence n your complaint makes sense, and as you have already seen you have people supporting my comments. In this industry we rely on the borrowers doing their homework off the information you are provided IF YOU HAVE ANY DOUBTS we then hope the borrower would ask questions. I think your main problem should be with your own homeowners insurance company for not contacting you, for what you make it sound like, something federally required.

No validity in the substance of your report, please have a better complaint then your insurance policy was increased to federal legal requirements.

Signed, MORE and I MEAN MORE THAN A SATISFIED CUSTOMER

WESTSTAR MORTGAGE KNOWS THE PROCESS AND WOULDN'T HAVE BEEN NAMED #47 IN THE LAST YEAR ALONE FOR TOP 100 MORTGAGE COMPANIES LAST YEAR ALONE IN THE UNITED STATES.

ONLY USE WEST STAR MORTGAGE IF YOU WANT TO FIND AN AMAZING DEAL!

JUST TAKE A LOOK AT THEIR HISTORY POSTED ON MORTGAGEROOKS.COM $16,500 FINE

http://mortgagecrooks.com/Union_National_Mortgage_Co.2162011pdf/index.htm

Thank you Susan.

You should re-look through your documents, you will clearly find a page that states your insurance can be increased to cover the original construction of the dwelling.  Apparently, you must not have had adequate coverage from the beginning, had an addition put in, etc. Yes, the LO should have contacted you before this occurred, but yes, you also did sign the document stating this was ok to do.

Lo's can only do so much, and if they are under the assumption that you read the documents before you signed them, you can't fault them for doing their job.  I guarantee there is no benefit reaped for a mortgage company to increase someones coverage, they do not receive incentives, they do not get to charge you more, there are absolutely no benefits, they were most likely just doing their job.

I used WestStar Mortgage, and they were incredible.  Obviously, we know that there is no such thing as a "no-cost" refinance, someone, somewhere has to get paid to complete your transaction.  Where it becomes "no-cost" is when the premium built into the interest rates, has enough within it, to cover all of your closing costs.

I think you just should have paid a little more attention to the dotted line. Also, I am more than positive, after meeting them through my own personal transaction, that upper management would have made anything right, that you did not feel was right. 

WestStar is hands down the BEST MORTGAGE COMPANY IN THE UNITED STATES!

Im amazed that no one in the industry has ever responded to this

For the record, I do not work for WestStar and therefore do not speak for them.  My office is
thinking of becoming a WestStar branch (which is how I found this post), but at the moment Im speaking as a loan originator who has written for GMAC, Washington Mutual, Sound Mortgage and Gateway Funding.

Low-Doc (aka Streamline) refinances are available in certain situations to borrowers with good scores and a proven track record.  They provide the simplest and fastest refinances.  But this refers to the documentation YOU are required to provide.  For instance, you probably were NOT required to provide 3 years of Federal Tax Returns.

The 70 pages you mention are the disclosures that the LENDER is required to provide, for your protection, under the Dodd-Frank and S.A.F.E. acts of 2008 (Federal requirements) plus any state required disclosures.  The lender has no say in this.

You would have gotten that same package of documents no matter where you had refinanced. Your signing of these documents is an acknowledgment that you've read all the regulations and terms. This has nothing to do with WestStar or any other lender.  Its a requirement of the Federal Government.  (Here in Washington State, this runs closer to 85 pages and the documentation varies depending on whether the loan is FHA, VA (the most paper) or conventional (the least paper).

As to insurance, if you borrow $250K, your home has to be insured for that amount.  Picture this:
you owe $250K, your home is insured for $150K, and it burns down.  YOU would now be on the hook to the bank for $100K, payable RIGHT NOW.  Im pretty sure you would not like that situation. 
(In real life, you would not get the loan in that situation.)

Its clear that youre not happy with how things went.  I get that. Ive been doing loans for most of 10 years and I know two things.  First, things arent always explained as well as they could be.  Secondly, people often hear what they want to hear.

I wasnt there for your loan, but the scenario you present sounds typical of any refinance under current Federal Regulations.  To make government-required procedures the fault of the lender is patently unfair.  

I would finally point out that your attorney said, "sign".  If he had found predatory or other illegal practices, he would have said, "walk away and then sue".

Scott C. Lindstrom 
NMLS # 377297 (you can look me up on the National Mortgage Licensing System website)

Susan!

My attorney read the 70 pages and I was told ok to sign them.

There were 0 pages that I signed that gave Westgate the authority to

increase my home insurance.

Yes I SIGNED THEM .. so what

They should have been honest and told me UP FRONT that this was their intention - they said nothing in FACT they denied have anything to do with it several times by phone.  I not until I said, "ok if you were under oath would you still say that WestStar Mortgage had nothing to do with raising my insurance"- Then the answer was "well.. "

So they practice shady business practices!!

Did you really think that any mortgage company wouldn't demand that you insure the house for what you owe them?  Did you read any of those 70 papers you say you signed?