Neil had no reason to request a payoff as we had never signed anything stating we were continuing with this loan. He says he will either see what they can do for me about a loan or see about getting my 0 back for the appraisal, which I would never have gotten if I had known this was not a fixed rate loan. Then I call and speak with Jackie (the assistant to the CEO). After I tell her that Cory has never bothered to get back to me, she states that she will speak with the CEO and then get back to me by days end. I called and left numerous voice mails and messages for both Cory and Jackie and neither one got back to me.
Just a couple of days after my last contact with Neil, I get a call from Americor stating that Neil is no longer with the company and find out from another loan officer that the 2% fixed 30 year loan was really a 2% deferred interet loan. Then, finally after about 2 weeks, Cory calls and says he is having a meeting with the President, CEO, etc to see about getting our 0 back.
This is the best way to manage and repair your business reputation. Consumers want to see how a business took care of business. How those businesses take care of those complaints is what separates good businesses from the rest.
Consumers love to do business with someone that can admit mistakes and state how they made improvements.
I look at the "Brokers Credit" form that he has sent and once I read the "fine print" I see that if I sign this paper I will be locked into a loan with these people and can have my 0 back at close of escrow!
I call Cory back and ask him if he is trying to swindle me the way that Neil did.
Neil started avoiding our phone calls and delayed getting paperwork to us.
We had to get an appriasal for this loan as the appraisal we had 2 months prior for a home equity loan, was supposedly not the right kind for a new loan.
We paid 0 to the appraisal company that Neil had picked out.
In that time, Ive heard it all, and sadly this isnt the first time Ive become aware of a similar situation.
My response here is not defending the lender at all, but rather, hoping to give some insight to help prevent it from happening again and pointing out a few important occurances.