- Report: #1451594
Complaint Review: Sovereign Lending group - Costa Mesa CA
-
Author Not Confirmed
Why?
Sovereign Lending group
3540 Howard Way, suite 200 Costa Mesa, 92626 CA, United States
Phone:
800.817.0201
Web:
N/A
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
Sovereign Lending group appraisal scheme Costa Mesa CA California
I recently received a call from Sovereign Lending group and worked with Joshua Brindle so my wife and I could get a decent refi done on our mortgage since our interest rate was going to be adjusted to 8.5% the next month. Everything seemed to be going fine until it was time for the appraisal. I had discussed with the loan officer that the value of our house should come in around $500k. This didn't seem to be an issue with him. So when the appraisal was finished he explained that the appraisal came in way too low. He said it should have come in at $550k in order to complete the loan. My wife and I were angry but moved on to another lending company. We explained to our new lender that we had already had an appraisal done and that we had paid for it. When it came time to close with the new lending company they refused to release the appraisal and explained that it is their policy not to release conventional loan appraisals. Never mind that Kamron Rowland who is the director of operations indicated that he would release the appraisal. Now he is going back on his word. This makes no sense to my wife and I since we paid for the appraisal. My feeling is that since the loan didn't work out for them they will make it hard for us and the new lender. Sour grapes!
1 Updates & Rebuttals
Laurel
Burbank,California,
United States
Home Apprasial
#2Consumer Comment
Sat, September 19, 2020
Having your home apprasied is a important issue, however it is the Appraisers responsibility to attend to the issue of a "sound home", and review all aspects. I had a appraisal done and we passed, however the Appraiser commented on how our home could have done better. And, they were correct with the issues they brought up new stucco, new landscape, and or fencing around the property. It is not the responsibity of the Mortgage Company to do, so it is the home owner if you want a better appraisal spend the time and money for one.
