Complaint Review: SurePoint Lending - Louisville Kentucky

Surepoint is a correspondant lender not a broker. We have our own in-house underwriters and everything. We are the #1 lender in the nation at closing refinances with Lending Tree and we have an A+ rating with the Better Business Bureau.

James, We have a very detailed customer database, and there is not a James from Baton Rouge in our system. If the lead is under a different name, let me know, and I can better address the specifics for you. If you had higher costs upfront, it sounds like you may have been offered an FHA loan, where you have to pay upfront mortgage insurance which is listed in closing costs, and all of your escrow set up would be included in that fee as well. Since you did have a bankruptcy, I would guess those FHA fees, our lender fees, your buydown on your rate, and the cash out (which I understand you said you didnt want) contributed to the total closing costs. Depending on when your taxes are due, the escrow set up can be significant. Regarding the Good Faith documents, those are automatically generated when a loan is opened for you. Those go out in the mail immediately, and you should receive them in 2-3 days from application. Any updates we make to the loan will also generate updated documents and those will be sent out as well. Credit scores can vary by report. I just closed a loan as well, and my score from the credit bureaus direct site are different than the credit report pulled by the lender. Feel free to contact me further if you wish, but since I can not find any lead resembling yours in the system, it is hard for me to address specifics. Customer care, 866-249-9385

I wish borrowers would stop expecting a copy of the appraisal performed on their property or a property they are purchasing. A completed appraisal in a lending/mortgage transaction is for the lender's use, not the borrower! That appraisal belongs to the lender!

I have a similar story to the individual that filed this report only mine is currently ongoing. I went to lower my bills.com wanted to consolidate my 2 loans into one no money out. Speaking with surepoint, over the phone I was told 5%. 2 days before they wanted to close I recieved the truth in lending statement and my first and only copy of a good faith estimate. Reading over the documents a few things tripped off warning lights for me. While my rate was 5% the apr was 5.989% To consolidate $124,000 into one mortgage they had me financing $138,000. $13,000 more then i already owed. he had 3000 coming back to me, something i did not want nor did i ask for, and 10,000 in closing costs. I only was paying one point to get to 5%. I spoke to surepoint and asked about the apr they said Ohh don't worry about the APR that doesn't really mean anything. I mentioned that i may go to a bank and see what they can offer me and was promptly told that a bank would not touch me with my credit score. Now my creditscore... while not the best due to a bankruptcy 9 and a half years ago, was not bad. I subscribe to all three reporting agencies and have for the most part corrected all the mistakes and got the top score over over 700 middle not far behind. The numbers he told me my score was was 60 - 70 points lower then what the agencies where telling me. I am not in the mortgage bussiness nor do i claim to be the brightest financial wizard. I just felt these numbers didn't feel right and sent them off for my brother to look at. I didn't think it was worth while increasing my debt by 13 thousand dollars to save a couple hundred bucks a month in payment. My brother told me they are killing me with fees and suggested I use a local bank and recommended the one he just used. The local bank told me he can save me 7000+ right off the top and lower my monthly payments from the proposal surepoint gave. I have decided to go with the bank rather then surepoint. Mortgages are intimidating bussiness. a lot of numbers thrown around and those in the know... know, those who don't are forced to trust who they choose to not rake them over the coals and look out for their best intrest. If people do not know they are being ripped off, they never report it as such. had it not been for my brother i would have signed away not knowing any better blind to the facts just like i suspect most other borrowers out there.

Kim "claims" he was in the mortgage business for years, so why did he even mess with an ARM? Shouldn't he have known better being in the mortgage biz? He knew they would readjust to some ridiculous re-payment schedule. Not a good way to solidify your claim. Here are some key points: 1. On all of these claims against Surepoint, few point out their excellent BBB ratings: they have been accredited by the BBB since 1996 and maintain an A+ rating. Based on this, many of the "scam" and "rip off" claims are most likely competitors. 2. The raw amount of information that someone wanting a home loas has to present to say, Lendingtree or Lowermybills.com is utilized by Surepoint to get the best loan rate and repayment possible. 3. In Keith's claim, he nags about showing up to closing and have rate changes and the price of closing going from almost 2000 to 5000. Many things could change your rate between the time you are quoted by a lending at the time you go to the closing table. Keith might have been omitting certain facts: maybe he open a no interest for a year credit card' to buy a HDTV (which lowers credit score and thus raising interest rates on home and car loans). Maybe he did not heed Surepoint advice and not apply for any other loans, which would result in credit being pulled and the score being lowered. 4. As for the closing cost jumping by $3,000-give me a break. Firstly, no loan company would be in business if this happened at their closings, and definitely wouldn't have an A+ rating with the watchdogs at the BBB. It is the ultimate responsibility (since he or she is signing their name to promise to repay) to make sure everything is order BEFORE the closing table. There is no possible way he was simply told at closing his cost was going up by 3,000. If it actually did occur and Keith isn't a CON, then he is juvenile and irresponsible. I would figure someone who had been in the mortgage biz could have handled this whole claim better, don't you. Don't listen to this false claim. Keith is the perfect example of a bad lessee. First, he is dim enough to take on an ARM, something he states AFTER claiming he was in the mortgage biz for several years (that's laughable). Second, the buyer/lessee MUST take ownership of the loan. It is THEIR name and credit on the line. The must be tenacious in knowing every detail of the loan process they are going through AND on an up to the minute basis. And lastly, this is a false claim and if it isn't, then we have some truly bad Keiths in the mortgage business down in Georgia.

Dear Rippedoff in Atlanta, These people should not have went to the closing table with different figures than what you were expecting............now......having said that....let me say this: I am a 15 year vereran of the mortgage industry myself and I cannot believe you didn't learn a thing from all your mortgage years.First of all any old mortgage veteran worth his or her salt would not apply for a mortgage on the internet with one of those marketing companies as you did.....you know that they fire those leads out to hundreds of bankers and brokers all over the nation and even before they call you ....some are pulling your credit..................that is a great way to make your score hit rock bottom.......Next................Didn't you have a friend still in the business that would have done your loan for you with a small fee ???? I wasn't even that well liked in the business,but I could call 10 people right now that would love to do my loan for me......with just a small fee. Now........I don't know anything about this company you complained on but it doesn't really matter...........about 90% of them are breaking the law every minute they operate.....but I just think your complaint is not valid because ... YOU KNEW BETTER THAN THAT !! I'm no sucker,Jeffersonville,In.

Hello Keith, Please be assured that SurePoint Lending abn First Residential Mortgage (SurePoint Lending) takes this complaint seriously. We pride ourselves on providing quality service to our customers and place the utmost importance on the integrity of our employees and our company. As a result, we are distressed when we hear that one of our customers is unhappy with their experience with us. Therefore, we have thoroughly investigated your complaint utilizing all of the information made available to us. SurePoint Lending receives over 100,000 applications per year via the internet through various sources, such as LowerMyBills.com and LendingTree.com. Given this statistic, it makes it difficult for us to deduce who you are with only your first name, city, and state. We will explain the manner in which we performed our search for your file and the results it afforded. We analyzed our entire database by sorting all leads according to lead source. All LowerMyBills leads involving subject properties in Georgia and the first name of Keith were closely examined. Of the files containing the information you provided, none of them match your account of the transaction. The Good Faith Estimates and final rates and closing costs do not reflect those you stated. In fact, of the files that were approved, there was only one loan for which documents were prepared and that closing was canceled prior to the scheduled appointment. We contacted the settlement agent for that particular file and an attorney was never present in order to be asked to leave as a result of the cancellation. In addition, SurePoint Lending does not have any record of a complaint filed by a Keith in Georgia. As you can see, we are having difficulty substantiating your claim. Due to the fact that we can not corroborate your version of the events that took place with limited information, SurePoint Lending is in disagreement with your allegations. We would have been more than happy to resolve your issue if given the opportunity. If this a legitimate complaint filed by a consumer, please call our office and a copy of your appraisal will be forwarded immediately. If you would like to discuss the matter in detail, we want to hear from you so that we may further investigate the matter. SurePoint Lending does not condone or allow this behavior and must address such activity as soon as possible, should we find it has occurred. Sincerely, Client Relations 866-249-9385