- Report: #280915
Complaint Review: American Lending Group - Saint Peters Missouri
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American Lending Group
22 Richmond Center Ct Saint Peters, 63376 Missouri, U.S.A.
Phone:
877-279-2370
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American Lending Group (Jeremy Swisher) ALG/Jeremy Swisher - Thinking About Using ALG? DON'T! SAVE YOUR TIME & MONEY! Saint Peters Missouri
I engaged Jeremy Swisher from American Lending Group on 6/22/07 as the senior loan officer for my mortgage on a house I was purchasing. Jeremy provided me with the GFE (good faith estimate) and TIL (truth in lending) statements, which I was happy with. I was scheduled to close on 7/25/07. Within 10 days from the time of engagement, I provided all necessary documents to Jeremy in order for him to close on 7/25/07. I asked numerous times if he had everything he needed to close, which he confirmed.
5 days before the closing date, the seller died, which delayed the closing until 8/24/07. I lost my lock and we had to renegotiate new GFE and TIL documents which were substantially worse. I swallowed the new terms since the closing delay was on my end not his.
This delay provided Jeremy with 30 extra days to make sure all documents were ready to go by the new closing date. Needless to say, when closing came around Jeremy was not ready to close and he delayed the closing an additional week. I know this doesnt sound like a long time, but the effort it took to close was astronomical. It literally was the equivalent of working a part-time job to manage this process!
Jeremy was extremely hard to reach during the entire process. He would not return phone calls or emails; it took severe badgering to get any sort of response from him. Jeremy lied on several occasions during the 60 day period; saying "everything is ready to go", "the title company has the documents", etc. None of which turned out to be true. He was requesting additional documents up until the day of the close.
When he finally sent the documents to the title company, there were numerous mistakes. He tried to include a number of fees that were not agreed to in the GFE. He doubled some fees and didn't give credit for others. He apologized for several mistakes, however some of the fees (including a $1000 miscellaneous charge) he would not remove. He even apologized for not communicating that charge and said the only thing he could do is give me a $500 credit, which I still have not received.
This is the worst experience I have ever had with a business. It was truly unbelievable. Keep in mind that my fianc and I who applied for this loan have excellent credit (both have FICA scores over 760) and our net worth was enough cover almost 100% of the home price. It's not like this was a sub-prime application...
Unfortunately I was not in a position to start the process over and lose my earnest money. I had already invested too much time and money in American Lending Group, who lied and cheated and took advantage of me.
To top it off I checked the BBB before signing up with American Lending Group and they state "The BBB understands and has no concerns about the company's products, services and type of business." This is unbelievable!!!
Ave Joe
Providence, Rhode Island
U.S.A.
5 days before the closing date, the seller died, which delayed the closing until 8/24/07. I lost my lock and we had to renegotiate new GFE and TIL documents which were substantially worse. I swallowed the new terms since the closing delay was on my end not his.
This delay provided Jeremy with 30 extra days to make sure all documents were ready to go by the new closing date. Needless to say, when closing came around Jeremy was not ready to close and he delayed the closing an additional week. I know this doesnt sound like a long time, but the effort it took to close was astronomical. It literally was the equivalent of working a part-time job to manage this process!
Jeremy was extremely hard to reach during the entire process. He would not return phone calls or emails; it took severe badgering to get any sort of response from him. Jeremy lied on several occasions during the 60 day period; saying "everything is ready to go", "the title company has the documents", etc. None of which turned out to be true. He was requesting additional documents up until the day of the close.
When he finally sent the documents to the title company, there were numerous mistakes. He tried to include a number of fees that were not agreed to in the GFE. He doubled some fees and didn't give credit for others. He apologized for several mistakes, however some of the fees (including a $1000 miscellaneous charge) he would not remove. He even apologized for not communicating that charge and said the only thing he could do is give me a $500 credit, which I still have not received.
This is the worst experience I have ever had with a business. It was truly unbelievable. Keep in mind that my fianc and I who applied for this loan have excellent credit (both have FICA scores over 760) and our net worth was enough cover almost 100% of the home price. It's not like this was a sub-prime application...
Unfortunately I was not in a position to start the process over and lose my earnest money. I had already invested too much time and money in American Lending Group, who lied and cheated and took advantage of me.
To top it off I checked the BBB before signing up with American Lending Group and they state "The BBB understands and has no concerns about the company's products, services and type of business." This is unbelievable!!!
Ave Joe
Providence, Rhode Island
U.S.A.
3 Updates & Rebuttals
ResponseTeam
Saint Peters,Missouri,
United States of America
Jeremy Swisher no longer with American Lending Group...currently with US Wide Financial
#2UPDATE Employee
Wed, October 27, 2010
Dear Ave Joe,
American Lending Group sincerely apologizes for your undesirable experience as we do not take clients interests for granted. We do take responsibility for the hiring of Mr. Jeremy Swisher, as we were unaware of his lack of depth in customer service and compliance within the mortgage lending industry. In our defense, Jeremy Swisher is no longer employed by American Lending Group and has moved on to another mortgage entity, US Wide Financial. Respectfully, disassociate your dreadful experience with him from the American Lending Group title and beware of predatory lenders that are not acting in the consumers best economic interests.
All the best,
RT
Bob
Aliso Viejo,California,
U.S.A.
And the rest...
#3Consumer Suggestion
Wed, November 14, 2007
The rate was one portion of the complaint and to be honest they didn't even complain about that. They went as far as saying they understood they lost the lock and had to pay a higher rate. So what about the rest of the complaint, where's the $500 you promised to rebate them after closing (which I believe is a RESPA violation not a 100% sure)? Why didn't you just credit them at closing, something that could have easily been done by title. I would love to see the original GFE and compare it to the final figures, I am sure it wasn't even close. I think that's called a bait and switch! You wonder why our mortgage industry is in such a mess, well when you get these fly by night loan officers just out to make a quick buck that's the result. Sorry for your experience.
Jeremy
St Peters,Missouri,
U.S.A.
my side
#4REBUTTAL Individual responds
Fri, October 26, 2007
The customer "ave joe" wanted the same rates we quoted him on a 30 day lock, but expected me to extend the rate lock over 45 days past the lock confirmation?? The customer signed a lock confirmation agreement for 30 days I was able to extend his rate lock but due to the increase in rates he would have to pay to keep the same rate. The lock confirmation he signed agreed to close within 30 days which he did NOT. The passing away of the seller pushed back closing which pushed him past the 30 day lock and the lock expired. He then had to go off of current rates available.
