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  • Report:  #1146373

Complaint Review: Union Bank

Union Bank Dan Cobb Deceptive loan practices to collect nonrefundable 'fees' santa monica California

  • Reported By:
    Paul — santa monica California
  • Submitted:
    Tue, May 13, 2014
  • Updated:
    Tue, May 13, 2014
  • Union Bank
    2001 Wilshire Blvd
    santa monica, California
    USA
  • Phone:
    (310) 453-4511
  • Category:

This bank and this loan officer, after submitting all my materials, and after telling me that all my figures are good and everything lines up and I am approved for a mortgage refinance, tells me that I just need to accept the one time non-refundable fee.  I tell him that I've heard this before and that I know that my situation and my loan are difficult, so before I agree to the fee, I need a 100% assurance that I'm approved.  He says, "oh, no problem we have the easiest approval process and ratios on the biz."  Once again, I say that I will not approve this 'fee' unless I am 100% guaranteed that I have been approved and I will be closing a loan within 30 days.  He says, 'Oh, you're a slam dunk, you're totally approved."  I must add that before this he and another loan officer in another office called me repeatedly for days to submit this fee so we can go on.  Then after I agreed, after he guranteed me I'll have a loan, I suddenly didn't hear from him, or anyone.. for days... for weeks...  All of a sudden...silence!   Then I wonder what's happening, so I send him an email.  He tells me it's not looking good.  I didn't pass for a loan.  What??  Was he going to tell me?  He just disappeared. Got his fee and disappeared.  Nothing changed at all with my circumstances or the info I gave him. Just that all of a sudden, I don't have a loan...after they told me I did...and collected this ridiculous fee from me!!!   Completely deceptive and fraudulent.  We had an agreement, Dan.  And you lied to me, so give me my fee back, or I won't waste your time in court over this.  It doesn't bother me to do so.  I'd enjoy it.  It's not about the $495. It's about your deceptive practices.  Collect this fee more than a few times a week and it adds a nice profit to the loans your bank can't give out anyway.  

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