American Reverse Mortgage Advisors Dan Peterson Ineffective, rude, incompetent, pathological liar Ladera Ranch California
I am 72 years old and was looking for a reverse mortgage through Lending Tree. What I got was Dan Peterson at American Reverse Mortgage Advisors in Ladera Ranch, California. Although he represented himself as being unusually competent at his job, he was totally incompetent, rude, and in my opinion, a pathological liar.
He worked on my reverse mortgage for 10 weeks, told me were closing at the end of each week, but always came up with an excuse when it actually came to closing. He blamed everyone else...the appraiser, me, the appraisal company, and others. When I confronted him about the number of weeks he'd been working on my mortgage he said it had only been 5 weeks. I have an email from him thanking me for my business that was dated two months earlie, June 8, 2015.
When I fired him, August 6, 2015, he refused to give me the name of the title company that had my files. He is allowed 72 hours to transfer my files to another lender, and used everyone of them knowing I was leaving on vacation August 10, 2015. If he had given me the name my new lender we would have been able to close Monday morning before I left.
His website says he is accredited by the BBB, the BBB says he is not. There is a tiny line next to the logos he has listed on the bottom of his site (including BBB Accredited) that says "This material is not from HUD or FHA and had not been approved by HUD or any other governent agency."
The actual company is United Pacific Realty and Investment, Inc, dba American Reverse Mortage Advisors. Nothing about this person is to be trusted.
2 Updates & Rebuttals
Applicant
Woodstock,Georgia,
USA
A suggestion
#3Consumer Comment
Sun, July 02, 2017
I just decided not to do business with this company. My situation was a little different. When I first started talking with them they proposed a plan including reimbursement of about $7500 of closing and mortgage insurance costs. When it came time to close on the deal, that offer had disappeared, and the settlement statement had no refreence to any reimbursement of those costs. I asked the company to honor their proposal. They refused. And worse, it was always my fault. I hadn't locked in a rate, I hadn't read their program updates, I hadn't asked about the details.... At any rate, I of course decided not to go through with the deal. I don't necessarily think it's a rip off company. But be sure, before you go through with any deal with them, to make sure that it's in line with their proposal.
Dan
Ladera Ranch,California,
USA
We work very hard for our clients
#3REBUTTAL Individual responds
Tue, November 24, 2015
We work very hard for our client and we strive to complete all of our files in a timely matter. We are very sorry that this client got upset over the extra few weeks it took to complete her loan. Sometimes there are situations and circumstances that are out of our control. Sometime there are issues with appraisals that set us back, and we do all we can to get those issues resolved. We have years of experience and never give up on a client, even when we have some hoops to jump through.
We are listed with the BBB, and currently hold an A rating with them. RMA is a dba and is currently the reverse mortgage arm of the parent company. This is common practice when the company offers many different types of mortgage products. We have hundreds of positive reviews located on other websites online, and we strive to ensure every customer has a positive experience working with us.