Len Rossine At Countrywide Lied and cheated to get re-fi on my house Manalapan New Jersey
I'm naming names -- Len and Cindy Rossine. I was a customer of Countrywide, looking to refinance, and I had the misfortune to be handled by Len Rossine. Recommended by my money manager -- they trade clients -- it was a family sort of situation. Len was taking good care of me. It was in a way that Countrywide especially could, saving me money because there was no middleperson -- Len was Countrywide. That was going to get me the best deal. No way.
Countrywide has policies that are not consumer friendly, like charging a large fee that other brokers don't charge for drawing up papers whether you end up doing the loan or not. But when Len told me I should execute the loan when the paperwork was finished, and take the rate that was current because you can't float a rate once your paperwork is done, he moved into the camp of liars. That was only the most egregious lie, with a hustle before that because I was in on some grandfathered loan application, where he said I might not get a loan once an imminent change of rules came through. No chance. I have perfect credit -- just what any lender is looking for.
Also, Len said that Countrywide's policy is not to let you use the appraisal you pay for if you go elsewhere for your loan. It's odd that he was powerless over this "company policy," which other lenders dont have, after making such a fuss about being Countrywide himself -- or maybe it is the way Countrywide does business. It's nasty any way you slice it, although for me it had a happy ending. I complained to my credit card company, through whom I paid the appraiser, telling them I had no access to my appraisal, and they refunded the fee
Suzanne
Los Angeles, California
U.S.A.
1 Updates & Rebuttals
therealripoff
United States of AmericaSituation
#2General Comment
Thu, December 31, 2009
Suzanne,
After being introduced to Len from my attorney, I came across your comments on this site. I felt strongly enough to register, and possibly rectify this misunderstanding you seem to be experiencing.
People go to banks like Countrywide/Wells Fargo/BoA etc... for piece of mind. The idea that you may pay a little more, but know you are in stable and federally-backed hands. Now Countrywide had problems, but charging customers for a service they provided (i.e. appraisals) is a common practice among bigger banks with their own, in house, appraisers.
I'm not sure if you have ever worked for a major corporation, however if you have you would know that "company policies" are indeed, "company policies." While they may be bypassed or altered in extenuating circumstances, most businesses stick to these policies like glue.
I feel like a small brokerage may have been more fitting for what you were trying to do. You are correct in saying that other "brokers" do not charge bank fees... because they are not banks! They are not federally backed, and are a simple middleman between you and your money :) I went to one before Len and got the same information, just felt safer keeping my money within a bank in these volatile times.
So I guess to each his own. To me, even if I had to pay more money with Len (although it was less expensive) I still would feel better dealing with a federally backed bank. If you want to skimp out and go to a broker so he can find an offshore bank/financier to handle your money, just know what your getting into ahead of time.
But if anything, don't blame Len for knowing his company was merging and therefore could not cut you a break. It seems to me, at least when you posted your comments (may '09), Countrywide and BoA were in the middle of if not beginning their' merger. If you researched the rates you would know that they had been fluctuating too much for a bank to safely float at the time. So it seems he was only looking out for your best interest, and you were upset because you could get your "countrywide" appraisal and bring it somewhere that is not "countrywide."
As a satisfied Len Rossine customer, and refinanced NJ homeowner... I just want to say thank you to Len and his team. Not only did they refi my home but they straitened out my credit and gave me a future financial plan at no additional cost before we even did the deal! That's customer service if I have ever seen it.