Al
VINELAND,#2Consumer Comment
Sun, October 02, 2005
It is very interesting to see Castle Point Mortgage defend it's actions, but their explanations above are probably an attempt to clear their name. And the individuals who claimed to have a good experience with Castle Point, are probably "plants" by the company. Castle Point Mortgage just what was alleged in the above claim, don't believe anything different. For all of the complaints issued on this site, at least some of it has to be true. I mean read the stories, thsy are all very similar. No one deserves to be "ripped Off".
Joe
Platteville,#3Consumer Comment
Mon, May 02, 2005
This is not the first story I heard about the bait & switch technique...nor will it be the last. I know you got 4 other quotes...and as a competitor, I was probably one of them but with a higher and more realistic quote. Needless to say, not verifying all your info up front was their fault...more likely their incompetence...I would do that first thing and send you a written list of documents that were needed to close, along with RESPA documents on what things cost (without hiding a thing like many do). Did they send you RESPA documents? Did they ever tell you exactly what documents were needed and what the next steps were? Did you get generalizations instead of specifics? Were things different on your closing papers than what you talked about along the way? If things changed, they are supposed to re-disclose fully within 24 hours of closing...not have you sign the changes at closing...that's the law...most bait&switchers never mention that. Why did they use $99K on the value? Is your house a dump? If not, they should have used whichever appraisal was realistic and supported by a minimum of 3 comparable homes in your area within about 1-5 mile radius. Unless you live in the boonies with no other homes SOLD like yours within a year...that's standard. If you're rural then lopping off 5% of the loan limit is reasonable...but not raising the rate. Why'd they get a second appraisal...then use neither of them? Not a good rebuttle on their part on that. To me it looks like someone finally had enough sense to report what's been going on all along...lowball unrealistic quotes, followed up with errors, more errors, bad judgments, and phoney stories of why things changed. Good for you in reporting these people, but you should have taken a quote that started more reasonably in the first place...rather than opting for the cheapest place. You went for the lowest quote like way too many people do...getting suckered in by things that are too good to be true. Next time I hope you don't take the lowball offer....it's usually the one that is the most risky. I would say most appraisers spend about 20 minutes at a home...most of the work is done on the backside you don't see looking up comparable homes, visiting those and photographing them too....and sometimes going to the courthouse to get documentation....5 minutes is too little...an hour is too long.
Bob
Quinlan,#4Consumer Suggestion
Thu, April 07, 2005
In response to the original poster, I feel for her pain. I have represented a number of folks at arbitration where they have been in the same situation. It's been my experience when the mortgage company is dealing with a sub-prime customer sometimes loan companies don't come in with in the target range and when the mortgage company is keeps switching from this loan company to another loan company and they keep changing the rules. The problem is that the mortgage company never tells the customer what is going on they just keep asking for employment verifications or tax returns or a new appraisal because the last one came in too low, etc. Part of the problem is usually because the customer has a credit score too low for prime lenders, but the mortgage company (who doesn't want to lose the customer) doesn't tell the customer how much paperwork is involved with sub-prime loans. Hang in there Linda and since you have a fresh appraisal, seek out another mortgage company. Remember, except for credit report fees, which should be less than $30, you shouldn't have to lay out any pocket money. You can also contact your state regulatory agency that licenses Mortgage companies and mortgage brokers for assistance. Good Luck.
Shelvy
Manassas,#5Consumer Comment
Wed, April 06, 2005
At this time I am writing to your company to show my appreciation for all of the help I received from my MD Loan Officer (Richard Gue) and my processor (Jen Bartock). They were both very efficient, informative and very courteous with their service they gave to me. Anytime I left any message I would receive a phone call back in a timely matter. They both went over and beyond with the help they gave to me, what ever I may have needed during the refinancing time they gave to me. All of this was new to me, and with out the help I received from both of them I don't think it would have been as easy for me as it was. I would also like to thank the appraisal department and the closing department for providing me with a representative to do the appraisal and the closing that were very nice and courteous. -Shelvy
Castle Point
Elkridge,#6UPDATE Employee
Wed, March 23, 2005
In response to Linda from Virginia's comments, we here at Castle Point Mortgage would like to make the following statement: First of all, we respect her right to air her grievance. Unfortunately, she has not provided a complete picture of her experience with Castle Point. While we have no way of verifying all of her accusations, we can unequivocally state that, Linda is responsible for her current situation. Every issue that she describes is a product of the incorrect information she provided us during the process. As with all financial institutions, providing your mortgage company with accurate information is the first step in ensuring a smooth and timely process for your loan. In this case, the information provided was far from accurate. The estimated home value given was not correct, the salaries given could not be validated, and the stated employment record and work history were equally erroneous. All mortgage loans are measured by three main criteria: home value, credit rating, and income. We received incorrect information on two of the three categories. In short, Linda's dissatisfaction is a result of the misinformation she provided from the beginning. Armed with the accurate information, Castle Point would have been able to provide excellent service. We were never given that opportunity. We here at Castle Point Mortgage pride ourselves on exceptional customer service, and strive to have our customer service differentiate us from our competitors. We are in touch with our clients every step of the way, and a team is assigned to each of our customer's cases. This team continuously monitors the status of the loan to alleviate any last minute surprises or delays in the process. While we are far from perfect, we've enjoyed a stellar reputation with our customers, the Better Business Bureau, and all regulatory agencies. We feel for Linda and her current situation. However, we cannot accept responsibility for claims she has outlined in her posting.
Castle Point
Elkridge,#7UPDATE Employee
Wed, March 23, 2005
In response to Linda from Virginia's comments, we here at Castle Point Mortgage would like to make the following statement: First of all, we respect her right to air her grievance. Unfortunately, she has not provided a complete picture of her experience with Castle Point. While we have no way of verifying all of her accusations, we can unequivocally state that, Linda is responsible for her current situation. Every issue that she describes is a product of the incorrect information she provided us during the process. As with all financial institutions, providing your mortgage company with accurate information is the first step in ensuring a smooth and timely process for your loan. In this case, the information provided was far from accurate. The estimated home value given was not correct, the salaries given could not be validated, and the stated employment record and work history were equally erroneous. All mortgage loans are measured by three main criteria: home value, credit rating, and income. We received incorrect information on two of the three categories. In short, Linda's dissatisfaction is a result of the misinformation she provided from the beginning. Armed with the accurate information, Castle Point would have been able to provide excellent service. We were never given that opportunity. We here at Castle Point Mortgage pride ourselves on exceptional customer service, and strive to have our customer service differentiate us from our competitors. We are in touch with our clients every step of the way, and a team is assigned to each of our customer's cases. This team continuously monitors the status of the loan to alleviate any last minute surprises or delays in the process. While we are far from perfect, we've enjoyed a stellar reputation with our customers, the Better Business Bureau, and all regulatory agencies. We feel for Linda and her current situation. However, we cannot accept responsibility for claims she has outlined in her posting.
Castle Point
Elkridge,#8UPDATE Employee
Wed, March 23, 2005
In response to Linda from Virginia's comments, we here at Castle Point Mortgage would like to make the following statement: First of all, we respect her right to air her grievance. Unfortunately, she has not provided a complete picture of her experience with Castle Point. While we have no way of verifying all of her accusations, we can unequivocally state that, Linda is responsible for her current situation. Every issue that she describes is a product of the incorrect information she provided us during the process. As with all financial institutions, providing your mortgage company with accurate information is the first step in ensuring a smooth and timely process for your loan. In this case, the information provided was far from accurate. The estimated home value given was not correct, the salaries given could not be validated, and the stated employment record and work history were equally erroneous. All mortgage loans are measured by three main criteria: home value, credit rating, and income. We received incorrect information on two of the three categories. In short, Linda's dissatisfaction is a result of the misinformation she provided from the beginning. Armed with the accurate information, Castle Point would have been able to provide excellent service. We were never given that opportunity. We here at Castle Point Mortgage pride ourselves on exceptional customer service, and strive to have our customer service differentiate us from our competitors. We are in touch with our clients every step of the way, and a team is assigned to each of our customer's cases. This team continuously monitors the status of the loan to alleviate any last minute surprises or delays in the process. While we are far from perfect, we've enjoyed a stellar reputation with our customers, the Better Business Bureau, and all regulatory agencies. We feel for Linda and her current situation. However, we cannot accept responsibility for claims she has outlined in her posting.
Castle Point
Elkridge,#9UPDATE Employee
Wed, March 23, 2005
In response to Linda from Virginia's comments, we here at Castle Point Mortgage would like to make the following statement: First of all, we respect her right to air her grievance. Unfortunately, she has not provided a complete picture of her experience with Castle Point. While we have no way of verifying all of her accusations, we can unequivocally state that, Linda is responsible for her current situation. Every issue that she describes is a product of the incorrect information she provided us during the process. As with all financial institutions, providing your mortgage company with accurate information is the first step in ensuring a smooth and timely process for your loan. In this case, the information provided was far from accurate. The estimated home value given was not correct, the salaries given could not be validated, and the stated employment record and work history were equally erroneous. All mortgage loans are measured by three main criteria: home value, credit rating, and income. We received incorrect information on two of the three categories. In short, Linda's dissatisfaction is a result of the misinformation she provided from the beginning. Armed with the accurate information, Castle Point would have been able to provide excellent service. We were never given that opportunity. We here at Castle Point Mortgage pride ourselves on exceptional customer service, and strive to have our customer service differentiate us from our competitors. We are in touch with our clients every step of the way, and a team is assigned to each of our customer's cases. This team continuously monitors the status of the loan to alleviate any last minute surprises or delays in the process. While we are far from perfect, we've enjoyed a stellar reputation with our customers, the Better Business Bureau, and all regulatory agencies. We feel for Linda and her current situation. However, we cannot accept responsibility for claims she has outlined in her posting.
Lindsay
Peabody,#10Consumer Comment
Tue, March 22, 2005
Although I am sorry for your unfortunate experience, I have to disagree with you 100 percent! In a day and age where "bait and switch" and dishonesty is the norm among mortgage companies, Castle Point Mortgage goes above and beyond trying to provide superior guest service and does so in a timely manner. It is immpossible to please each and every consumer but the fact that that is their goal speaks volumes for them as a company! I've used them to finance my home twice and have several friends that have also used them. They have gone out of their way to get the job done right and I reccomend them to anyone in need of financing.