Mortgage Lenders of America - Unethical business practice

Posted on Friday, February 18th, 2011 at 11:29pm CST by 03a25d9c

Product: Loan Refinance

Company: Mortgage Lenders of America

Location: 8400 W. 110th Street Suite 500
Overland Park, Ks, 66210, US

URL: http://www.mortgagelendersofamerica.com/

Category: Other

A sales agent from this company offered to waive a $375.00 appraisal fee on a refinance after not returning our calls for 2 weeks. I had originally given him my credit card information to charge this fee but was later told my credit card would not be charged if we went ahead and closed this loan. After this loan was closed I recieved a charge on my credit card statement from a third party appraisal service. The sales agent is now stating that a credit was given to account for this fee on my settlement statement. The credit he is referring to is a $1000.00 lender credit which was never disclosed to me as part of this $375.00 fee. On multiple occasions I was specifically told from this agent that my credit card would not be charged. In addition I never gave this mortgage company authorization to forward my personal credit card information to a third party. This unethical business practice caused my out of pocket expenses for this loan to be $375.00 more than the offer I accepted.


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