- Report: #590004
Complaint Review: Mortgage Investors Corporation - St. Petersburg Florida
Reported By:
Mike -
La Vergne, Tennessee, United States of America
Submitted:
Updated:
-
Author Not Confirmed
Why?
Mortgage Investors Corporation
6090 Central Ave St. Petersburg, 33707 Florida, United States of America
Phone:
Web:
www.mortgageinvestors.com
Categories:
Business Rating:
(0)
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Mortgage Investors Corporation Amerigroup Mortgage Corporation Review Scam | Complaints INVESTIGATION: Mortgage Investors Corporation / Amerigroup Mortgage Corporations clients, feel safe, confident & secure when doing business with MIC. MICs 100% commitment to client satisfaction, exceptional client experiences & success. Commitment to Rip-off Report Corporate Advocacy Business Remediation & Customer Satisfaction Program, ..A program that benefits the consumer, assures them of complete satisfaction & confidence when doing business. *UPDATE: Mortgage Investors Corporation / Amerigroup Mortgage Corporation recognized by Rip-off Report as a Verified Safe business.
Rip-off Report Investigation:
Editors UPDATE: Positive Rating and Recognition has been given to mortgage-companies/mortgage-investors-c/mortgage-investors-corporation-ddd29.htm for its Commitment to Excellence in customer service.
Rip-off Reports investigation of Mortgage Investors Corporation / Amerigroup Mortgage Corporation uncovers an ongoing commitment to total client satisfaction. This means that clients can expect that MIC will always work towards finding a mutually satisfactory resolution to any complaints or concerns. MIC listens carefully to client concerns and sees them as an opportunity to learn from past mistakes and become more efficient as a company in the services MIC offers and the support for those services.
One top executive in the mortgage lending business stated to Rip-off Report, that MICs chairmans personal philosophy is that service members and veterans are a different class of citizens who deserve the best this nation and his company have to offer in return for their sacrifices to this country. MIC must listen to our clients and respond properly. This is the best way to ensure MIC will maintain a successful enterprise both now and in many years to come.
Another top executive of the company stated to Rip-off Report, that the Chairmans personal business philosophy is based on the premise that MIC strives to add value in its services. We understand that a successful business model is based on value-added services, and client care. MICs mission statement says it all; "Our goal is to provide our clients the best quality, value and professional excellence in the industry." Some of the other things Rip Off Report learned in the course of its investigation: MICs business was established in 1938 to provide borrowers with home loans and realize their dreams of homeownership. MIC has provided hundreds of thousands of service members and veterans with a new home loan that saved every borrower thousands of dollars over the lives of their loans, lowering their monthly mortgage payments and improving their financial positions. MICs unique business model has made it the leading Department of Veterans Affairs guaranteed refinance provider.
Rip-off Report has confirmed that MIC takes quality control very seriously. MIC has recently put a lot of effort into ramping up its Customer Service team and client relation processes including full time availability to borrowers to assist with any issues that develop. Rip-off Report was pleased to learn that MICs past and current approach to business is focused on its pledge to total commitment towards client satisfaction.
MIC recognizes that complaints posted on Rip-off Report (true or not) are issues that need to be addressed and if handled correctly can be valuable learning opportunities. With the feedback generated by Rip-off Reports Investigation MIC has made organizational changes allowing her clients a more streamlined approach to problem resolution and a total overall commitment to her client experience.
In summary, after our investigation, which included discussions with MICs Chairman and President and many of its current associates, Rip-off Report is convinced that MIC has been and is committed to quality delivery of services resulting in total customer satisfaction.
Read more about Mortgage Investors Corporations Commitment to Excellence and Total Consumer Satisfaction and why consumers should feel safe, confident and secure when doing business with a member of Rip-off Report's Corporate Advocacy Business Remediation & Customer Satisfaction Program. ..yes, a long name for a program that does a lot for both consumers and businesses alike.Read about Rip-off Report Corporate Advocacy Business Remediation & Customer Satisfaction Program,..A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. this program works.
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NOW TO THE ORIGINAL REPORT THAT WAS FILED
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Editors UPDATE: Positive Rating and Recognition has been given to mortgage-companies/mortgage-investors-c/mortgage-investors-corporation-ddd29.htm for its Commitment to Excellence in customer service.
Rip-off Reports investigation of Mortgage Investors Corporation / Amerigroup Mortgage Corporation uncovers an ongoing commitment to total client satisfaction. This means that clients can expect that MIC will always work towards finding a mutually satisfactory resolution to any complaints or concerns. MIC listens carefully to client concerns and sees them as an opportunity to learn from past mistakes and become more efficient as a company in the services MIC offers and the support for those services.
One top executive in the mortgage lending business stated to Rip-off Report, that MICs chairmans personal philosophy is that service members and veterans are a different class of citizens who deserve the best this nation and his company have to offer in return for their sacrifices to this country. MIC must listen to our clients and respond properly. This is the best way to ensure MIC will maintain a successful enterprise both now and in many years to come.
Another top executive of the company stated to Rip-off Report, that the Chairmans personal business philosophy is based on the premise that MIC strives to add value in its services. We understand that a successful business model is based on value-added services, and client care. MICs mission statement says it all; "Our goal is to provide our clients the best quality, value and professional excellence in the industry." Some of the other things Rip Off Report learned in the course of its investigation: MICs business was established in 1938 to provide borrowers with home loans and realize their dreams of homeownership. MIC has provided hundreds of thousands of service members and veterans with a new home loan that saved every borrower thousands of dollars over the lives of their loans, lowering their monthly mortgage payments and improving their financial positions. MICs unique business model has made it the leading Department of Veterans Affairs guaranteed refinance provider.
Rip-off Report has confirmed that MIC takes quality control very seriously. MIC has recently put a lot of effort into ramping up its Customer Service team and client relation processes including full time availability to borrowers to assist with any issues that develop. Rip-off Report was pleased to learn that MICs past and current approach to business is focused on its pledge to total commitment towards client satisfaction.
MIC recognizes that complaints posted on Rip-off Report (true or not) are issues that need to be addressed and if handled correctly can be valuable learning opportunities. With the feedback generated by Rip-off Reports Investigation MIC has made organizational changes allowing her clients a more streamlined approach to problem resolution and a total overall commitment to her client experience.
In summary, after our investigation, which included discussions with MICs Chairman and President and many of its current associates, Rip-off Report is convinced that MIC has been and is committed to quality delivery of services resulting in total customer satisfaction.
Read more about Mortgage Investors Corporations Commitment to Excellence and Total Consumer Satisfaction and why consumers should feel safe, confident and secure when doing business with a member of Rip-off Report's Corporate Advocacy Business Remediation & Customer Satisfaction Program. ..yes, a long name for a program that does a lot for both consumers and businesses alike.Read about Rip-off Report Corporate Advocacy Business Remediation & Customer Satisfaction Program,..A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. this program works.
=====================
NOW TO THE ORIGINAL REPORT THAT WAS FILED
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Mortgage Investors Corporation Amerigroup Misleading loan practices, high pressure sales St. Petersburg, Florida
This is a very shady operation. I now understand how lenders can mislead borrowers into singing up for an unhealthy loan.
I'll start from the beginning. I've had several people at my place of work tell me how they'd recently refinanced down to as low as 4.0% fixed. I'm currently 2 years in on a 30 year fixed at 6.125 %. I'm also a veteran, so am eligible for the VA streamline refinancing.
This company cold-called me one evening, and I just happened to be in the mood to entertain the idea of refinancing. They then scheduled an appointment for a loan rep to visit me and go through the details.
The loan rep shows up, and instead of discussing my needs/wants/status, he starts going through a flip-file presentation. I felt as if he was trying to sell me a timeshare. It was really silly. The presentation, itself, really talks down to people of average intelligence. "This is a mortgage... watch out for the interest monster!! Ohhhh!!"
Basically the presentation was designed to sell me on getting into a 3/1 ARM hybrid loan. I wasn't given any other options on a loan. Not fixed, or 5/1 ARM hybrid, or anything else. So, apparently, they either really needed to sell these 3/1 ARM's or that's all they had. Nothing else was ever even discussed, at all.
After the presentation, we went through the 'math' of the loan. The way they go about this is VERY misleading:
First, they use your loan amount, minus the $7k+ in fees that will be added, to try to sell you on how much you'll be saving each year.
Secondly, they are misleading about what causes interest rate hikes, and they are misleading in the fact that they certainly CAN go up 1% every year, and likely WILL considering that we've been at record low rates for years now. The loan rep kept stressing that a 'bad economy' will cause rate hikes.. which isn't exactly true. (Considering that the economy is in poor shape now, and we are at record low interest rates)
In addition to the above, he was rolling my savings (the reduction in payment) into my loan balance every year. So on one hand, they tell you your payments will be reduced by X amount, and in the same breath they will roll X amount off of your loan balance. This was, I thought, extremely misleading, and not explained very well.
In addition to the cheesy sales pitch, the lack of actual loan options, and the misleading math, there was the high pressure sale. After I spent 10 minutes explaining why I was not interested, and NOT going to sign a contract that evening, he had to call his boss (using my home phone) in Florida. I then had to talk to his boss for 15 minutes or so and explain my position. It was a solid argument. I had to debate this guy over the phone about why I didn't want to go to contract with them.
I explained that even if they offered me a 2% fixed rate right then and there, that I would NOT go to contract that evening, and that I would have to do some research on their company and loan practices before signing ANYTHING. Even after that, I had to spend additional time arguing my position.
I highly recommend staying far, far away from this company.
