Pathfinder Financial Solutions - Dianna Merrick Ripoff Mortgage Broker, Credit Scores, Dianna Merrick, Out $350.00 PLUS! Thornton, Colorado Springs Colorado
Dianna Merrick with Pathfinder Financial, came to our home, showed us mortgage options, pulled our credit & told us that we should seek a credit repair service to help raise our score.
She later gave us varied numbers of interest rate & payments, which greatly differed from our 1st meeting. We used the credit repair service she suggested, a hefty monthly amount for each of us (& a sign-up fee for both). She needlessly pulled our credit 8 times over a month (which decreased each of our scores over 40 points) which prohibited the 2nd mortgage refi. We were told by Dianna that we would need to subordinate the 2nd & 3rd positions on our mortgage, due to the credit scores decreasing, & would have to pay them each a subordination fee. When asked, she told us that we would receive that subordination fee back, by her company, if the 2nd & 3rd positions declined. At closing, all documents were signed for the 1st mortgage, but as the last day approached for finalization, Dianna told us the 2nd position had declined the subordination ($200 paid in a cashiers check). Due to them not staying in 2nd position, the first refinance would not complete, as well as the 3rd position (subordination fees paid of $150).
When asked why she went to the table without the subordination agreements, she would not answer. It was her fault not having the subordination docs prepared for closing, we were expecting our $350 refunded due to her errors. We tried once more, by getting a second mortgage drawn up, with the understanding that she would bring us a cashiers check immediately in the amount of $350 (the subordination fees) due to her errors.
Upon contact with her today, she indicated to me that this would be rolled into the closing, and would only be available at the time of funding. We have decided NOT to use her or her company due to the lies and irreparable issues she has caused. Dianna refuses to reimburse us the $350 subordination charges she promised to pay us back due to her errors in the refinancing process. You can certainly understand why we won't be using this company to refinance!
This is a secondary complaint again Pathfinder Financial Solutions. The initial credit scores were pulled on June 1st to initiate a mortgage program. This would have been good for a full 30 days to release to a mortgage lender. Unfortunately, Pathfinder Financial also pulled credit on myself and my husband without consent on June 19, June 22, July 5, July 13, July 19, July 20, and July 21st. This has caused our credit score to drop over 40 points in the past month, making it extremely difficult to obtain a mortgage with the now low credit scores. Pathfinder Financial had no reason to pull our credit that many times, especially without our knowledge. We now have to face the credit reporting agencies and explain the circumstances to them, and hope that the inquiries will be dropped. We would like to have Pathfinder Financial write a letter explaining that there was no reason to pull our credit that many times, and all but 1 should be removed permanently from our credit file We are requesting that Pathfinder Financial use a company called Veracity Credit Repair, where Pathfinder Financial Services will be paying for the services until these inquiries are removed.
Dianna Merrick from Pathfinder Financial Solutions has pulled our credit on numerous occasions. The only time she was authorized to pull credit on myself and my husband was the start of our business relationship, on June 1st, 2006. At that time, she downloaded it to my laptop and specifically told me NOT to tell anyone she gave me a copy of the credit report, or she would face serious trouble and fines. She told me she would legally be held responsible if someone knew she had given me my credit report through her company. She again pulled credit and continued to send me a copy of the report on different occasions, once again on 7/18 and again on 7/19/06. She again told me to keep my ?mouth shut? or she would be in serious trouble for giving me a copy of the report from Pathfinder Financial Solutions.
Dianna Merrick from Pathfinder Financial Solutions faxed me on 7/28/06 a copy of the new application and information on a new loan, asking me to have my husband fill out the form, sign in and date it for 6/22/06, a different day. She has also met me in a McDonalds parking lot in Longmont to retrieve a filled out letter from my husband before she notarized it without him there.
Pathfinder Financial Solutions is now being investigated by the Better Business Bureau, and the Department of Regulatory Agencies of Colorado for Mortgage Realtors.
I hope they never receive their license to practice mortgage brokerage in Colorado, due to the issues Dianna Merrick has caused me now and in my future!
Susan
Arvada, Colorado
U.S.A.
2 Updates & Rebuttals
Susan
Arvada,Colorado,
U.S.A.
How long have you been in this business??
#3Author of original report
Wed, August 16, 2006
I don't know if someone can really understand my frustration, unless they have been through it themselves.
If you have been in the business for over 5 years, you should know that there are times you can pull credit for just about anything. I am not dumb. I know that having one single inquiry on my credit can damage it and drop it just 2 points below what the underwriter requires. We DO NOT hit our credit unless absolutely necessary.
So yes, the credit score DID drop 40 points due to them pulling credit. I was advised this by the credit reporting agencies, as well as the subordination refusal on the 2nd mortgage holder. I have also looked at all credit reports myself and also determined as such. I do not put incorrect information out there just so people can read it and be frightened...it actaully happened.
So, unless you have seen my credit reports, DO NOT assume that my credit was not hit and dropped due to their errors. They are a mortgage broker and according to them, each and every investor that they used pulled my credit (without my knowledge and approval). Mycreditreport is not a reputable website, and it does not fix what has happened to my credit. Plus, by your stating " If it does, it probably won't drop much"....well, it was pulled enough times to make it drop THAT much! "most credit scores are not affected by multiple inquiries from auto or mortgage lenders within a short period of time" - Well, in the amount of time they had to pull the credit, it DID make it drop! These were not be treated as a single inquiry, so it did have a HUGE impact on the credit scores.
I have looked at my credit report. I take advantage once a year and get a copy of a free report, as well as any problems that might have occurred during the years time. This just happens to have made a HUGE impact on the process to now fix someone elses errors. There is no legal way to "fix" your credit, trust me, they also told me to work with a company for a hefty price of $50.00 per month for each of us (myself and husband) and a sign up fee of over $125.00 to start the service. Well, surprise, that didn't do any good either! It made things worse!
Once again, you don't know my credit situation. THERE IS NO PAYMENTS OUTSTANDING, DUE OR OVERDUE, and there never will be - NO COLLECTIONS, NO BANKRUPTCY, NOTHING....so, unless you know what has truly happened, don't make me out to be a criminal and show the world that I don't pay my bills, or anything else on time or at all. This rip-off report was due to an inconsiderate mortgage broker company that did NOT know what they were doing. I know how to read my credit, and have for some time now! I know how to dispute the reports myself and am in the process of doing so. I know how to take care of it - this is for those poor people who might have contact with this awful company!
I don't need to apply for anything, my credit was a high 770 when I started, now it is dangerously low due to this company. I actually have someone working on my file that is willing to work around the other companies that nicely ruined my outstanding credit.
Have a great day!
FLGirl
Tampa,Florida,
U.S.A.
Hmmmm
#3Consumer Suggestion
Tue, August 08, 2006
Susan,
Although I can understand your frustration, I've been in the mortgage business for over 5 year, there are a few things I'd like to point out.
First in regards to the inquiries on your credit, there is no way that your score dropped 40 points due to them repulling your credit score. Here is a direct quote from mycreditreport.
"Fallacy: My score will drop if I apply for new credit.
Fact: If it does, it probably won't drop much. If you apply for several credit cards within a short period of time, multiple requests for your credit report information (called inquiries) will appear on your report. Looking for new credit can equate with higher risk, but most credit scores are not affected by multiple inquiries from auto or mortgage lenders within a short period of time. Typically, these are treated as a single inquiry and will have little impact on the credit score."
This will hopefully give you a little more insight on how your credit score can change.
Also, my suggestion to you is to take a look at your credit report and fix it. I would say the drop in your credit score is due to negligence of forgetting to make a payment or the collections being rereported.
If you take a look at the website they will go step by step with how to read your credit report and how to dispute items. You do not have to pay some company to have this done, it just takes a little time of reading and research.
Also go to all three bureau websites; equifax, experian, transunion.
Work on this first then apply.