Daniel Peterson
Houston,#2REBUTTAL Owner of company
Wed, July 08, 2009
I am curious Julie, why hide behind an Alias like Jezelbel if you are really telling the whole truth? Why try to be anonymous? Definition--noun 1. Bible the wicked woman who married Ahab, king of Israel: 1 Kings 21:5-23; 2 Kings 9:30-37 2. Any woman regarded as wicked, shameless, licentious, etc. Your choice of Alias is interesting. Let us sort through your lies and misrepresentations, shall we? 1. Expired license. Our license has never expired. We voluntarily surrendered it so we could get all 50 States through a Federal Charter. This is clear on the State of Texas website, so why did you lie? Why do only one State when you can do all 50? We can now do residential mortgages in all 50 States along with Commercial and multifamily. You do not need a license to do Commercial loans or multifamily which is what your loan request was. We also offer loan modifications for people who are having problems making their payments in 42 states or have unfavorable loan terms. 2. His phone # was out of service Our phone number is working fine and has since 1998. Please call it to see. 800 547 9081 or 713-956-5363 3.He could not keep track of the documents How do you not keep track of an email? If we did such a bad job on your loan request, please provide proof that you actually purchased and closed with a Bank on the 8 unit property in Dallas that you applied for with us. Out of 1000s of mortgage brokers surely someone got you closed if you were truly qualified? 4.The broker forwarded me pre approval docs There is no such thing in commercial lending. We sent you a broker fee agreement and it also says there are no guarantees. We are not the Bank and we do not control approvals. See below copied from BFA. >>>>>>>>>5. Best Efforts Basis: The Broker is representing the Borrower on a best efforts basis only and cannot guarantee the successful placement of any loan. 5. I requested written proof of his work and written reasons why lenders could not approve me. We did a conference call with you and my lender that had the most interest. He told you why you did not qualify. You live 1000 miles away from the property you were to try to manage and you have no experience in multi family management at all. Based on what you report on your income tax returns and cash reserves you did not qualify. Your income did not match your application. Had you not misrepresented several material facts like your income and cash reserves we would have never wasted time trying to get you approved for a loan that you clearly do not qualify. None of this could be known at time of application. The other points the lender made on our conference call with you were valid as well. Being a Foreign National with no SS # made it even more difficult and I explained this to you before application. FYI- Application fee means the fee when a loan package is started or submitted for approval. We only accept and write up deals that sound like they will close based on the representations of the applicant during the initial phone interview. The Commitment fee is the fee after the loan is approved and the Bank has issued a L.O.I. (letter of intent). The Origination or success fee is collected at closing when the loan funds. This is the big check we work for. We were unable to get your loan approved after much work and multiple submissions to lenders. We would have loved to get this loan closed for you if it were possible. Your Broker Fee Agreement clearly spells out there are no guarantees for approval and your rights and remedies. At the end of the day, nothing else could have been done to get you approved on this deal with your situation, as was verifiable at that time, short of loan fraud. We have 1000s of happy customers that have had their loans closed since 1998 and we have never had a complaint until you. We are in good standing with the BBB and all regulatory agencies. We had our Texas State loan audit and passed it with flying colors. I am sorry we were not able to get you closed but you clearly were not qualified. I feel the Banks made the correct decision after all of the facts were uncovered which was impossible to do at time of application. It is what it is. I am sorry that you are so bitter that you would not tell the whole truth and attempt to misrepresent and slander us. If anyone has any questions regarding this posting, I encourage them to contact me directly at (713) 956-5363. Best regards, Daniel Peterson
Jezelbel
Los Angeles,#3Author of original report
Sat, June 20, 2009
October 2008, I sought to finance an 8 unit in Dallas, TX. I submitted an application on www.homeequitylending.com (broker's name is Daniel Peterson). Upon submitting my data to the broker, and over several discussions, the broker said he was 100% sure he could get loan approval. The broker forwarded me pre approval docs, I trusted his word and wired the $1500 fee. Weeks later, he advised me the market had changed and I no longer had a loan approval. I requested written proof of his work and written reasons why lenders could not approve me. There was no response. I consulted a legal advisor and they tried to contact him and the phone # was out of service. An initial letter concerning the matter of a refund for the $1500 was also sent to him via mail and there was no response. Buyer beware.
Jezelbel
Los Angeles,#4Author of original report
Sat, June 20, 2009
In October 2008, I was seeking financing for an 8 unit in Dallas TX. I came across the broker's website and submitted an application. Upon discussing the application further on the phone, this broker advised me that he was able to get my loan approved, and that I was to wire a $1500 app fee. He guaranteed this when I asked him if it was a for sure thing. Presuming this broker was working in my best interest, I trusted him and wired the fee. A week later, the broker advised me the market had changed and that my loan could not be approved. I advised the broker to keep working on my file to continue to look for people who could help me with getting approval. I continually asked for written proof and also rejection letters from banks or lenders that he had connections with but in the whole month that I was emailing him and calling him, he replied saying that he was "busy" and doing "large loans" for either himself or other people. He could not keep track of the documents I sent him two or three times on the property and did not seem focused on finding a lender. I consulted a legal advisor on this matter and when they tried to reach him, his phone # was out of service and was unreachable. I am filing this report because I found out this broker surrendered his broker's license in Aug 08, months before I got in contact. Also there has been no further contact to my inquiries about written proof of his work to get me lenders.