Complaint Review: Indiana Mortgage Funding USA MOrtgage Funding Matt Esarey - Bloomington Indiana

This rebutal is in response to the complaint made against me and USA Mortgage Funding. First of all, USA Mortgage Funding has nothing to do with this customer as they are merely the brokerage I chose to process this loan after my previous employer, Indiana Mortgage Funding, filed bankruptcy and consequently went out of business. USA Mortgage Funding is a very respectable company with a clean record of service to their community. Their role in this was simply to help this customer by allowing me to process this loan in their name. Without USA, I would have been forced to turn this loan down. Secondly, most mortgage professionals would have turned this loan down from the start because of the customer's below-average financial standing. Rather than turn this down, I knew of one lender that I could get this loan approved with. After getting this approval and seeing the loan go through the underwriting phase and be prepared to close, it was discovered that this lender would have to turn down the file as they would be violating Indiana law by closing it since they had exceeded the 5% fee limit. Once this loan was turned down by this lender, rather than shirk the customer and rid myself of the stress of trying to get this loan done, I looked at a few other lenders to see if I could put a financial package together to help this customer get their house. The customer made a habit of calling me several times each day for updates on the situation even when they knew that I had no new information. Knowing the customer was just anxious about purchasing their first home, I promised to call them when I heard something so they knew everything that I knew about the status of their loan. The customer never complained once through the process and appeared to be very understanding of the difficult task I was faced with. After the credit report expired, an updated one was pulled. This new credit report showed a decrease in the customer's financial standing. Every lender has underwriting guidelines that must be met. Unfortunately, I was unable to find a lender with underwriting guidelines that this customer could meet. I do find it quite interesting that the customer is unwilling to sign their first name to their own complaint. This tells me that this customer lacks confidence in their accusations. It is very easy to attack someone on an internet site unanimously. That is why I feel the customer's accusations lack validity. Finally, I would like to point out that this customer is complaining about paying for their own appraisal. The fact is that two appraisals were done and they completely ditched their responsibility to pay for the first one. Therefore, they were required to pay the appraiser up front on the second one. Their financial responsibility to pay for the first appraisal will now fall onto my shoulders. All-in-all, I am utterly shocked and very disappointed in this apparent act of desperation by a customer that I have invested more time and patience into than any other customer that I am currently working with. It is truly impossible to please every customer. Some understand this while others resort to pointing the finger at others rather than hold themselves accountable for their own situation that they have created themselves.

I do appreciate the fact that USA Mortgage was honest with us. Its not them Im upset with. The fact is, we were strung along by Matt for so long. All he had to do was tell us from the beginning of the process, but everyday he said..Yes we're going to close, yes we have a lender, no your credit isnt a problem. Why did he say to go ahead and get appraisals and insurance if the loan wasnt going to go through? Determining if we were qualified or not shouldnt have taken months, it should have taken a day or 2, and we knew we stood little or no chance of getting a loan. But to drag it out is totally unprofessional. Be upfront. Thats your job. Kudos to USA Mortgage for handling Matts files and thanks for settling this in 2 days.

First of all, we are terribly sorry that the borrowers in this case are having so much trouble with purchasing a home. The facts are this. We, USA Mortgage Funding, assumed this loan from Matt Esaray as a favor to help him through with his loans. We were handed several of his loans and we have been working to sort through them one at a time. Unfortunately, this particular borrower is not qualified to purchase any home big or small. They have serious delinquencies all over their credit and do not even come close to qualifying for the purchase of a new home. They have a 90 day late on their auto loan, they owe more than $13,000 in back child support and one of them even has a credit score below a 500 score. We need a 580 credit score to even be able to consider someone for a purchase loan. The fact that Mr. Esaray may have mislead this borrower, is not and should not be a reflection on us and how we conduct business. In fact, we are the professionals that recognized the situation here and informed them of their loan status. USA Mortgage did not originate this loan process to begin with and were only trying to finish it out for Mr. Esaray.

I am a real estate appraiser that has done work for Matt Esarey, and both USA Mortgage Funding and Indiana Mortgage funding. From my experiance with both companies and Matt Esarey they take their clients and all mortgage files seriously and professionally. I have worked with USA Mortgage Funding for over a year, Indiana Mortgage Funding and Matt Esarey for about 6 months, and have never had any problems with the companies or the individual. I however, was not assigned the appraisal of the property in question, so I cannot comment on this particular file. I can however comment on somethings that may have prevented the loan from going through as planned. Credit scores, judgements, collections, late payments, and the value of the property are just a few of the factors that can pervent loans from working. Again, I have no knowledge of the appraisal or the file in question. I am only offering a few reasons why a loan may not be able to close. Also, I am defending the professional integrity of the two companies and the person in question, with whom I have a professional working relationship. Tony Indiana Real Estate Appraiser