- Report: #995645
Complaint Review: New Source Lending - Santa Ana California
Reported By:
Dupped -
San Diego, California, United States of America
Submitted:
Updated:
-
Author Not Confirmed
Why?
New Source Lending
5 Hu tton Ctr Dr #960, Santa Ana, 92707 California, United States of America
Phone:
7144155248
Web:
www.newsourcelending.com
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
New Source Lending Florida Capital Bank, Axis Appraisal New Source Lending shared my credit card info with Florida Capital Bank in Florida. They charged my account for an appraisal, then declined the re fi I had completed. I did not authorize sharing of Santa Ana, California
Danny Granger and his boss Lee at New Source Lending, Santa Ana, had me complete all forms required for a re fi. They were among many who advertise on the computer to give me best rates etc, so you complete the few questions and minutes later you start getting calls. New Source Lending was the one saying they could give me the loan without a lot of paper work and confident they could get the re fi. I chose them.
It was a 99% go for the re fi, but they needed my credit card info for an appraisal before the loan could be completed....not after as I should have been alerted to. I balked at it but was re assured that the credit card would not be charged, it was just for their information so they could continue with the loan process. The appraisal company Axis Appraisal was given the go ahead to appraise my condo pre loan closing.
An appointment was set up and my credit card was charged before the appraisal was completed. Meantime, New Source Lending declined the loan saying I needed to make $500 more a month, however, the Florida Capital Bank in Florida was given my credit card info who passed it on to Axis Appraisal for the charge. I had never heard of an appraisal happening before the loan, but innocent to SCAMMERS in re fi, I went along with the re fi process.
I was reeled in with the Obama re fi lifting regulations as seen on your computer and nabbed by Scammers....New Source Lending, Florida Capital Bank and Axis Appraisal. Beware even in a vulnerable time when you need to re fi, you get hit by SCAMMERS. They will not return $435.00 to my bank so they can return it to me. My recourse is to ALERT the public Look Out.
It was a 99% go for the re fi, but they needed my credit card info for an appraisal before the loan could be completed....not after as I should have been alerted to. I balked at it but was re assured that the credit card would not be charged, it was just for their information so they could continue with the loan process. The appraisal company Axis Appraisal was given the go ahead to appraise my condo pre loan closing.
An appointment was set up and my credit card was charged before the appraisal was completed. Meantime, New Source Lending declined the loan saying I needed to make $500 more a month, however, the Florida Capital Bank in Florida was given my credit card info who passed it on to Axis Appraisal for the charge. I had never heard of an appraisal happening before the loan, but innocent to SCAMMERS in re fi, I went along with the re fi process.
I was reeled in with the Obama re fi lifting regulations as seen on your computer and nabbed by Scammers....New Source Lending, Florida Capital Bank and Axis Appraisal. Beware even in a vulnerable time when you need to re fi, you get hit by SCAMMERS. They will not return $435.00 to my bank so they can return it to me. My recourse is to ALERT the public Look Out.
2 Updates & Rebuttals
Brandon
Temecula,California,
AXIS Has been excellent for me
#2General Comment
Fri, August 09, 2013
Some of the comments in this complaint show that the consumer who felt ripped off does not know very much about residential lending. The consumer says that "who pays for an appraisal prior to a loan" The facts are the almost every one has to pay for an appraisal prior to funding a loan. It is part of the package. Without an appraisal, the loan cannot be underwritten correctly. Does the consumer expect to have a bank lend on a house with out having an appraisal. It's unfortunate if the person taking the credit card information at Florida Bank told the borrower that the credit card would not be charged. My personal experience is with Sierra Pacific Mortgage who also works with AXIS Appraisal, my loan officer told me they would charge the credit card, they usually do, I don't know of any one that would not charge the credit card once it is given. To me it sounds like someone who was upset because their appraisal did not come in at the value they wanted. The appraiser still did the work and deserves to be paid.
Report Attachments
Lee Wapato
Santa Ana,California,
United States of America
Rebuttal to complaint
#3UPDATE Employee
Thu, February 28, 2013
We did not share credit card information with Florida Capital Bank. Information was not shared. Appraisal order was authorized and ordered through Axis, an appraisal management company.
1. Application was received for a home mortgage.
2. Application was reviewed and prequalified.
3. Credit Card information was obtained and an appraisal was ordered.
4. New updated information obtained indicated loan qualification was unlikely.
5. Appraisal was placed on hold.
6. Further analysis and research indicated no other options available.
7. Loan was denied.
8. Return of funds was confirmed subject to a cancellation fee of $15 from Appraisal Management Company.
9. Customer upset about charge of $15, we agreed to work with Appraisal Management Company to return funds.
10. Customer wrote complaint information on this forum.
11. We are continuing to work with the Appraisal Management Company to return the $15 charge.
It is our desire to provide the best service possible. Unfortunately, even when we process a loan to the best interests of the client, sometimes things happen that make it difficult on all of us. If the loan was processed and funded, everyone would be happy. However, because the loan was denied, and even though we took steps to stop the appraisal process, the customer was not happy. I wish we could do more, nevertheless, we must work within the framework (regulatory and procedural) as required.
