Complaint Review: United Northern Mortgage Bankers LTD. - Steven Koerner - Paul Sabo - Don Giorgio - Levittown, New York

United Northern Mortgage Bankers, Ltd. and owner Don Giorgio WON a Class Action Lawsuit Denouncing these Claims Made on Ripoffreport.com. Thus, the company's Better Business Bureau rating of A+ and longtime community standing since 1979. An ex-employee slandered United Northern and lost in court.

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Mr. David Catapano, Your posting on www.ripoffreport.com has come to our attention. Complete customer service and satisfaction is one of our main priorities of United Northern Mortgage Bankers. Your post is confusing and very disturbing as we have no idea who you are. After checking our customer base since 1979, we are unable to locate you as a client. We also have checked public record to see if we could search our database for your home address and neither one of these two properties were financed by United Northern. Harness Lane in Levitown and Bleeker St in Ridgewood, NY. As a matter of fact please visit http://a836-acris.nyc.gov/Scripts/DocSearch.dll/PName and you will find what we did, nothing. You do not even have a mortgage in the State of New York. Can you see why we are confused? Of course we were shocked at your libel statements so we felt it necessary to research your background further. It appears you are the owner of Funding For Dummies. This is an active New York corporation which you advertise as a Mortgage Company, please feel free to go to http://activerain.com/nyccribs. Your company is not and has never been licensed with the New York State Banking Department nor are you even licensed as a Mortgage Loan Officer which your profile so clearly states that you are. Your webpage breaks numerous RESPA guides including but not limited to disclosing APR's next to your interest rates. I suggest you remove this page immediately, however in case you need a copy of it in the future, we would be very happy to provide it to you along with everything else we have. We wish you luck in selling www.fundingfordummies.com for the $1800 that you are asking, you just may need it for your legal defense. https://auctions.godaddy.com/trpItemListing.aspx?ci=6711&domain=fundingfordummies.com. We are pleased to also see you care about Zambia. Another company running out of your address. We can only hope the non-profit papers are in order as the IRS is very particular. We also came across another website called freakencontagious.com, apparently besides being an illegal unlicensed loan officer you are also in marketing. Your website claims you handle 3000 events per year, yet your online calendar is blank. Because you just incorporated on 5/25/2009, it is a little hard to see how you can derive at your numbers. It is illegal to falsely advertise. I hope you have not done that. You are a very busy man David, it also seems that you own another company call checkmatemedia.com and you quote the following: M. Russo, Senior editor of The New York Times as saying "Checkmate media is the Most Inventive Advertising Firm I have ever seen. Everything they touch turns to gold! A one stop shop for all your Advertising needs. They do everything, and do everything well! -M. Russo, Senior editor of The New York Times. We cannot locate such a person at the New York Times. I am sure they would be interested in knowing that someone may be falsely saying they work there. You should be more careful in the future as to whom you receive a recommendation from. Still with all of our investigative research shown here from public record and those items we are choosing not to post, we still have no idea who you are. We were successful in locating the attorney on record for the many corporations that you own which are running out of your business address at 51 Macdougal Street Suite 281 New York, we will use that address and your attorneys when we serve you. If we need you, we will be sure to call you at one of these three phone numbers which you have used for business. 212-203-2568, 917-684-0286, 917-684-1060. Ripoffreport.com is a great website for consumers needing to voice their unhappiness about companies and or their services. You have abused this privilege they have extended to the public. We are at a loss of your motive, is this another business venture for you? To try and get together groups of people to file class action lawsuits? This website has been around for along time and it takes you, a non client of ours or any other mortgage company to post such bogus libel statements. The policy of this website is they will never allow posts to be retracked but we suggest you try.

United Northern is a Licensed Mortgage Banker with real physical locations in New York, New Jersey and Pennsylvania. United Northern was formed in 1979 and continues to operate under all Federal and State guidelines. The mortgage industry has been under scrutiny for many years, with that being said, all mortgage companies; bankers and brokers have audits and compliance inspections by both federal and state officials. If United Northern was operating under the standards in the complaint above, the owners and employees would have been prosecuted and the company would have been dissolved. The Mortgage Process: When an applicant applies for a mortgage for the sake of determining if an individual qualifies for their debt to income ratio, an example interest rate must appear on their initial loan documents. A federal form called a Good Faith Estimate must be prepared and supplied to the applicant and mailed within three business days of the initial application. I ask that all persons that are interested in this topic to please locate your federally required Good Faith Estimate and Truth In Lending document and read it. Most people do not, I am to assume that the disgruntled applicant above decided he should not read the form either. What you will find is that the figures and interest rate shown is for qualifying purposes only and is in no way a commitment to lend or the actual figures that will be shown for closing costs or the interest rate the applicant will close at. The purpose of these required documents are to inform the consumer to spare the above complaints. These forms are also required by law to be signed by the applicant. By signing, the applicant states that they Infact DID read the fine print and understand that the initial rate and fee's are for qualifying purposes only. The only time a interest rate is valid and will carry to closing is when an applicant LOCKS THEIR RATE with the lender. At that time the applicant will receive a lock form stating the terms of their lock with an expiration date, both the applicant and lender will sign this form. If the loan does not close within the lock period, the rate expires and then they would close at the current market conditions. If the loan closed within the lock period all terms remain the same. Many applicants choose to float their rate until they close in hopes the market conditions improve and they will receive a better interest rate for them. Sometimes it works in their favor, other times it does not. The lender usually incurs the same amount of profit whether an applicant locks their loan or not. All companies are in business to make money, lenders are no different. HOWEVER, lenders must follow the law regarding restrictions on their profitability on each loan file. I personally feel that is wrong, but it is the law. Think about it. If you are self employed, does the government step in and tell you that you can only mark up the tires you sell x amount of percent. These are the things that consumers are not educated on. For someone to obtain a mortgage, one of the most important financial decisions of their life and not read anything is crazy. Had the above person did his due diligence and read; he would have understood his initial papers are for qualifying and not what he is closing. I felt compelled to respond to this because his complaint will fuel calls to other lenders, he is passing along bad information. Not to mention that he has exposed himself to a libel suit for posting his complaint. Everyone can complain but when you make false statements of facts you are in trouble. I am sure whoever his attorney is, he has not seen this post because he would have never approved of such statements. My last and final comment is this. All applicants have a choice at closing to close on their transaction or not. If you are not happy with the final terms, do not close. Period. As simple as that. Once those final papers are signed, you have legally agreed to the terms and there is no recourse because you agreed. That is why there are so many papers to sign at a closing. You agree to the terms of the mortgage something like ten times. I have never been to a closing where a loan officer is holding a gun to some persons head. I suggest you pull out your Good Faith and Truth in Lending, actually read it and retract your statement before you end up being sued. On another note, Lenders do not want properties to go into foreclosure. They lose so much money. Lenders are in business to make money off the monthly payments, they do not enjoy not receiving payments, paying for attorneys to foreclose, having properties damaged and selling the home for half of what the lender is owed. They lose tens of thousands of dollars on each property. Also, as an fyi: Escrow accounts are non interest bearing by law and reporting delinquent payments is another expense incurred by the lenders. That is why there are three credit reporting agencies. Some creditors report to one, some two or all three. It's expensive. Employees: If any employees are not paid, why would they still work there? And if that was the case, United Northern would be shut down and they certainly would not have over a hundred employees. Previous Mortgage Compliance Officer Now It Appears "Educator to the Public"