AEGIS Mortgage - AEGIS Lending RIPOFF, Bait and Switch Lending, Misplaced payments, Overall HELL!! Houston Texas
Aegis--where do I begin??!?!?
1) 2 hours before closing, I got a phone call from Chris Minjarez of Mortgage Pros (in Austin, TX) stating that the company we were closing with (Aegis) did not allow escrow accounts. He then said that it wwould not really matter because our mortgage would be sold within the first month anyway. This is was just the final straw of a string of strange occurances with the brokers office/aegis.
We had little choice of refusing the loan--our current home (which we were converting into a rental property) was already leased out, we had not place to go. SO we went to closing, signed the papers and got our keys.
2)About 4 months after making timely payments, we started getting harrassing phone calls from Aegis stating they did not recieve a payment. Although we were sure we had made the payments the argued continiuously. We had set up our escrow acct and made a deposit of 1400.00 which was also misplaced.
After making several "catch up payments" (which were bogus because we had paid on time) we started to scratch our heads. It turned out we had paid both our 80% and the 20% over 3 months ahead EACH.
Not only had thay misplaced/miscredited our payments (and we had the canceled checks to prove it) BUT they filed a negative report on our credit report. EVEN THOUGH we had an apology letter from Aegis with the promise to correct the entry on the credit report, it took almost 4 months to get that entry off.
Our mortgage was never sold and Aegis is terrible to deal with. They always pass you on to someone else who promises to call you right back (which they never do). If we had not been good record keepers we would have lost almost $5000 in extra payments!
Morgan
Hutto, Texas
U.S.A.
4 Updates & Rebuttals
Chris Mtg
leander,Texas,
United States of America
hello information is false
#5REBUTTAL Individual responds
Fri, October 28, 2011
Hello, thank you for this opportunity,
Let me start by saying that i have just now after almost 6 years figured out that this false statment that included my name was being posted on line.
I have been in the mortgage business for over 11 years, and this by far is the most eronious piece of information that i have ever heard. I have gone back to my records on this particular loan and it looks like the clients may have lost or changed jobs right before closing, if I remember correct this caused them not to be able to move forward on closing on there house. I have tried several times to email to contact these clients but it seems as though they may have defaulted on there mortgage and left no forwarding phone numbers, they also will not email or write me back.
I am currently the owner of a mid-size Mortgage company in Central Texas and would hope that an indivudual who has these type of ridiculios claims would show some proof or even go before a mediator to handle a problem like this.
I take my job very serious and helping folks purchase a home and do this in a professional manner is my main objective.
thank you for this opportunity,
Chris MInjarez
Chris Mtg
leander,Texas,
United States of America
hello information is false
#5REBUTTAL Individual responds
Fri, October 28, 2011
Hello, thank you for this opportunity,
Let me start by saying that i have just now after almost 6 years figured out that this false statment that included my name was being posted on line.
I have been in the mortgage business for over 11 years, and this by far is the most eronious piece of information that i have ever heard. I have gone back to my records on this particular loan and it looks like the clients may have lost or changed jobs right before closing, if I remember correct this caused them not to be able to move forward on closing on there house. I have tried several times to email to contact these clients but it seems as though they may have defaulted on there mortgage and left no forwarding phone numbers, they also will not email or write me back.
I am currently the owner of a mid-size Mortgage company in Central Texas and would hope that an indivudual who has these type of ridiculios claims would show some proof or even go before a mediator to handle a problem like this.
I take my job very serious and helping folks purchase a home and do this in a professional manner is my main objective.
thank you for this opportunity,
Chris MInjarez
Morgan
Hutto,Texas,
U.S.A.
My main concern was with the lack of accountability by Aegis
#5Author of original report
Wed, December 14, 2005
--how is it that months worth of payments can simply vanish? Like I said, had we not kept good records we would have taken their word and kept paying money that we did not owe!
Joe
Smithsburg,Maryland,
U.S.A.
You misunderstood-escrow is set up this way
#5UPDATE EX-employee responds
Thu, December 08, 2005
I worked for Aegis and can tell you that they do everything possible to let the customer know about escrows. If you're working through a BROKER who is getting the loan done through Aegis, it's possible that your broker doesn't know his a*s from a hole in the ground.
Anyway, specifically Aegis does not set up escrow at the time of funding. 30 days out from closing (or thereabout) you will receive a package instructing you on how to set up an escrow if that's what you would like. There is a toll-free number you can call for the Houston office and they will need copies of recent tax and insurance bills or receipts to get you set up.
Quite frankly, you aren't getting "screwed" or ripped off if escrows aren't set up because you don't save any money wheter or not you set up an escrow account. Your taxes are the same either way...it's only who you pay them to. By not forcing escrow upon you at close or having you set it up then, you get the OPTION of who you want to pay your escrow to...wheter it be Aegis or American Escrow or putting it aside with an escrow account at your local bank like some people do.
You also don't get the hassle of having the county sit on your tax papers and not get them to the lender in time (you get the bill or a copy of it) so you know how much they are and won't have a surprise increase in your overall payment if it were tied in with a mortgage loan payment. You can always get an extention from the tax man, but not a mortgage company if you can't afford your taxes.
So call Aegis and get the toll-free number to set up escrow. You still can and it's not difficult. Or call American Escrow so you can pay it that way....and if you're short one month on the taxes, they don't care if you're late...an escrow with a lender will cause havoc if you pay it late or they misjudge how much to hold back (let's say if your taxes go up a bunch and that leaves you short)...and that's any lender.
You would also have seen this over and over again in the disclosure paperwork. Did you even bother to read it? It's there in plain English in more ways than one.
Either way...this is more of an inconvenience, not a ripoff since you aren't really out a damned dime whether or not you set up an escrow account...and if you cared to investigate you would have found you can set it up anyway even after you closed.
I don't work for them any longer as I moved out of the area and am no longer near a branch office, but I know that they do take great strides to be up front with people...and with my experience, I can say that no matter how many times I've told people exactly what I mention above, they are too busy with themselves and the process to actually hear it and half the time forget I said it too.
Go get refinanced with Ameriquest or someone like Countrywide and see what happens to you. Now those are scary places!