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Infinity Group Services Complaints - 4.375% rate not available

Review all Infinity Group Services complaints

Infinity Group Services
Posted: 2009-06-09 by   Cathy
4.375% rate not available
Complaint Rating: 100 % with 13 votes
Company information:
California
United States

We agreed upon a 30 year fixed loan at 4.375%.
Signed the final loan documents 6/2/09 with right to cancel by 6/5/09.
Received call from IGS processor 6/9/09 to say that our loan could not be funded at 4.375% and that the new rate would be 4.875%.
I said we weren't interested and we'd like our $995 back. She said we wouldn't get our money back because they weren't actually canceling the loan, only changing the terms.
I asked that she have her manager contact me.
Since then I'v been been in touch with the National Association of Consumer Advocates, KFI talk radio, master card, the notary, and the appraisal company involved with the loan.
Please leave a message if you've had a similar experience.
Comments United States Loans
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More Infinity Group Services complaints
Infinity Group Services - home loan
Infinity Group Services - Not Getting Refund as Promised
Infinity Group Services - Fraudulent Re-fi
Infinity Group Services - Loans/Refi
Infinity Group Services - Fraud
Infinity Group Services - Did not honor rate
Infinity Group Services - not honoring the loan rate promised and I signed for
Infinity Group Services - Scam - kahram zamani
Infinity Group Services - Fraud
Infinity Group Services - They are crooks!

Comments

 Sort by: Date | Rating
 73 days ago by   FedUp99 0 Votes
I have had the same bate and switch experience. Started at 4.8% then was told 5.5% and went through the process including approval in August, and now no loan and no response. I will report to the agencies suggested in this email.
my email address is risesmail@gmail.com
 94 days ago by   kathleenaas 0 Votes
Back in May "09 I started with the Infinity Group, paid my fee and appraisal fee. Only to find out the appraisal was too low and the loan would involve points and insurance. We decided to cancell and not proceed with the loan. I continually call about my refund, leaving messages daily. I have not heard back from them and dicided to try the computer, only to find out there are alot of us out there. I'm not real good at this type of thing but I guess I should contact the Better Business Buereau and possibly KFI640 radio, which is where I heard the ad. Thanks for listening.
 100 days ago by   mkuo 0 Votes
Unbelievable how people can get away with this. I have all my email correspondances saved which clearly show their scam techniques. They already know you will not qualify for the modification because there was no H2H modification loan available. But they wait for your payment of $995 to go thru before they break the news to you. I received my invoice from Kahram Zamani I believe because the "case worker" I had was on vacation. His email address is bgoshert@gmail.com.

When my "case worker" came back from vacation, she sent me an email stating she will forward my credit card information to their accounting department. I can only assume she wanted to make sure the payment went thru before she told me anything because the very next day, she sent me an email stating that I was not approved because my dept was too high. Here is a copy of the exact email I received from her:

> I have received file back from our underwriter and
> unfortunately you are not eligible for the H4H program
> sponsored by FHA because your DTI (debt-to-income ratio)
> exceeds the one required by FHA.
> I can move on and request your lender(s) to consider
> granting a loan modification, but I would like to know if
> that is what you would like or have your lender(s) contacted
> you regarding this possibility?
>
> If you have been contacted about a loan mod, please forward
> any correspondence on this matter.
>
> Thank you,
>
> Laura Schwarzkopf
> Sr. Loan Processor
> IGS
> 163 Technology Drive W., Suite #100
> Irvine, Ca 92618
> (949) 267-1609
> Fax (949) 267-1709
> Laura.Schwarzkopf@askigs.com<mailto:Laura.Schwarzkopf@askigs.com>

Crooks!!!
 100 days ago by   FED 0 Votes
Mkuo
I am sorry to hear that you where another victom of Kahram Zamani owner of the worlds worst company in the USA. Can you believe after 1500+ people like yourself he has managed to spend 1.5 plus million dollars of other peoples money and have nothing to show for it. WOW!!!
 100 days ago by   mkuo 0 Votes
I went thru a Hope to Homeowners company thru a radio station website that charged $995 up front. Hope to Homeowners transferred me to IGS. Their offer was that I would pay the $995 up front then I would pay the remaining balance of their $3500 fee once the refinance/modification went thru. Their offer was very appealing: You new mortgage loan would be 90% of the CURRENT market value and the excess of your mortgage would be forgiven. The 10% below current market value would then be a shared equity with FHA.

If you sold your home during year 1, FHA would get 100% of that 10% equity amount.
If you sold your home during year 2, FHA would get 90% of that 10% equity amount.
If you sold your home during year 3, FHA would get 80% of that 10% equity amount.
If you sold your home during year 4, FHA would get 70% of that 10% equity amount.
If you sold your home during year 5, FHA would get 60% of that 10% equity amount.
After year 5, FHA would get 50% of that 10% equity amount.

Not a bad deal.

So I signed up. I filled out all the paperwork showing my hardship and they had you complete a hardship letter explaining why you needed assistance from this program to avoid foreclosure. I did all the work and all the calculations on their worksheet. Sent it in. My "case worker" went on vacation so they had another rep charge my credit card before my file had even been reviewed. The very next day after they charged my credit card, my "case worker" was back from vacation and I received a call from her stating that I did not qualify for the program because my debt was too high!! Could not believe it! They did nothing on my case and charged $995 for nothing, then told me sorry, but you do not qualify for the hardship package because you are in too much of a hardship??!?!?!

Then they had the nerve to say, well we can try to negotiate with your bank to see if we can come to an agreement for a loan modification with them for the remainder of the $3500 fee, but again there is no guarantee. I asked them to stop everything and lose my file!! They did not do anything at all on my case except charge my card before doing anything, then called me to tell me I did not qualify!

A few days later I found out this "Hope to Homeowners" program never really took off and in fact had not been in force for several months. So there was no chance of me being approved regardless of my financial situation when they took my application since the program did not exist at that time.

I have since been negotiating directly with my mortgage bank and have been able to come to a modification agreement with them directly. I am currently trying to resolve my second.

I will call Nicholas and Butler per the above recommendation. They need to be stopped!
 130 days ago by   DaveR 0 Votes
BTW, they are also looking toward false advertising, failure to perform in good faith, punitive damages (could be some real money?) etc.
 130 days ago by   DaveR 0 Votes
For all those who haven't received any refund or offer of a refund-
Even though Matt Zurbach did finally state he would refund my $995, it didn't happen and I ended up dealing with it through my credit card company. I expect each company has a bit different rules, and I had thought that mine had only a 120 day window to dispute a charge. I was able to meet the the 120 day window, and found out it was for a VERBAL request to cancel the charge. They said they would STILL contest a charge for me AFTER 120 days, but I would have to submit it writing.
I would also strongly suggest everyone, even if you've received a refund, contact Nicholas and Butler in San Diego--619- 325-0492. I have spoken with Mei-Ying there, and they are working a class action lawsuit which will hopefully include 1)the $995 if you haven't gotten it back 2)your appraisal fee (it's no good for a different lender) 3)any costs over the $995/$2995/$3995 you were to pay IGS for loan origination elsewhere 4)the life cost difference between the 30 year/15 year total cost for your new loan (I presume you'll still get one - rates are moving back down) and the one you were to get from IGS.
Good luck to all.
 130 days ago by   JimH 0 Votes
Back in February I contacted them because of a radio ad on KFI for the Hope for Homeowners program. They told me they could get started right away and all they needed was a credit card number for the $995 fee. I then received a pile of documents via pdf to fill out and I spent a week doing all the paperwork. I promptly sent off the paperwork and waited. I waited and waited. I knew that anything involving the government would be slow but after 3 months I contacted IGS and they told me they had no record of receiving any kind of paperwork from me and that the person originally handling my case was no longer with the company. Seeing as how I had already paid them the $995 I was coerced into resubmitting new documents which I promptly did. Almost two months have passed and have not even received a call from them. I contacted my mortgage holders and neither of them has had any kind of correspondence with them regarding my loan. Their web page, by the way, is gone. It says "down for maintenance." I called them today and all I could get were answering machines. Supposedly, someone named Matt Vurvach is supposed to contact me but he has not. At this point I just want my $995 back because from all accounts they have done NOTHING for me. They can't even find my paperwork. It has been a total of 5 months. JimH269567@aol.com
 130 days ago by   rella 0 Votes
Did my due dilligence!!!When we started this process in February they had an A rating under all of their names. I researched them under hud, BBB, and the hope 4 homeowners program as well. They cancelled us today (Kelly to be exact) because my husband "yelled" at her assistant on Monday and then "yelled" at her today. Both accusations are not true. He was just trying to find out why they still needed more paperwork when two weeks ago everything was fine and "in review." Every two weeks we were told that our loan was in process/in review or they needed someother missing paper work. They didn't even send our file to our lender until June 13 and the process was started Feb. 28. They waited the 90 days so that my I couldn't dispute the $995 through my credit card company. I was standing next to my husband the whole time he did raise his voice but never did he yell. They cancelled US and she told me "you will never get your money back!"

Before you shame people scramick quit making assumptions, you have no idea when people started the process!
 137 days ago by   scramick -1 Votes
DUE DILLIGENCE KIDS. There should be no complaints here if you guys did your due diligence.
The Better Business Bureau link will tell you stay away. You all seem to find a website to complain but never once looked at the BBB website. They have had an F rating for some time now. Shame on you all.
http://www.la.bbb.org/BusinessReport.aspx?CompanyID=100064220
 142 days ago by   Shut Down IGS 0 Votes
I have read all the posts above and could not agree more with how IGS has scammed us the same way.

Briefly we had applied in the beginning of March and paid a up-front fee of $995.00 dollars and $350.00 for the cost of property appraisal. On May 14, 2009 all final loan documents were signed, notarized and finalized. On June 9, 2009 the company's loan processor called to tell us that they were canceling our loan and that some loan manager would call us later. No one from the company ever called back and our calls were never returned.

Please contact me at alvinsfung@aol.com with further information regarding legal options in dealing with IGS.
 142 days ago by   DaveR 0 Votes
In addition to some of the actions noted here, I also contacted the California Association of Mortgage Brokers. Kevin Kilkenny there told me that while they cannot bring any action against a member (Kahram Zumani is a member), they will take a look at my complaint and they will eject any member that violates their standards and ethics. Kevin Kilkenny's e-mail address - kevin@cambweb.org - is listed on their website as well - cambweb.org - as "government Affairs" and "Advocacy".
 143 days ago by   igs is a fraud +1 Votes
Today I called HUD's Inspector General's Office. If you have a HUD-related (includes FHA) loan and believe or suspect IGS is defrauding you or others, please call HUD to report your experience. The number is 800 347 3735. I spoke with Operator 31 who asked that I send details of my suspicions to her via email. If HUD audits them and finds fault, they will suspend or revoke IGS's license and may proceed with criminal prosecution.
 143 days ago by   joelayn 0 Votes
Hey again to all -
I just sent a reply to Lori P and let her know that a representative from IGS called my cell phone today and left me a voice mail message stating that they were sending a refund check. I also received an e-mail from Darrin M. at AM radio station 640KFI in which he sent a copy of an e-mail that e got yesterday from IGS advising him that they would be refunding my $995.00 upfront fee.

Interesting that IGS would e-mail 640KFI before they would contact me.

I will wait for the check to clear before I count my chickens. I am sure that the check will carry a condition letter along with it that stipulates that by cashing the check my husband and I agree to cease any further legal action against IGS. We'll have to wait and see.

Best to you all - feel free to email - my address is obergbaby@hotmail.com
Lori P said that it came back as unrecognized, but I've had that e mail address forever... so Lori P., give it another try
Thanks
 144 days ago by   Lori P 0 Votes
Joelayn -

tried to e'mail you... e'mail address unrecognized?
 144 days ago by   FED 0 Votes
Here is Kahram Zamani cell phone number CEO of Infinity Group Service.I suggest each of you call him on a daily basis to demand your money back.
Kahram Zamani cell # 949-463-3630
 144 days ago by   joelayn 0 Votes
Hello to all. I still have not heard back from the representatives at IGS about the status of my refund. Thank God, our daughter is healing and doing well after her emergency appendectomy on Friday of last week, and I ended up taking out a pay day advance loan so that I could pay her deductable and afford groceries for my family as well. My husband's employer implemented a company wide pay cut last week as well so money was really tight to say the least.

My complaint against IGS that I filed with the BBB is still open and pending, and the information provided to Darren M., the General Sales Manager at AM radio station 640KFI, is being batted around back and fourth with no resolution. I did hear back from the law firm of Nicholas and Butler indicating that they have received my information as well. My report to the California State Attorney General's office is still open and pending. I have not heard back from the reporter over at CBS Channel 2 News, but I'm still hopeful. I did get an e-mail address to file a formal complaint from a law enforcement officer for the City of Irvine. I had planned on being in the Irvine area on Friday of last week on business, but was holding my daughter's hand at Kaiser in Woodland Hills instead.

The individual that I provided my information to on April 17th, Mr. Tony Ho, is no longer with IGS. I spoke with him on his cell phone tonight and he advised me as such. He gave me his cell # during the intital part of this whole mess when I still had hope and faith in humanity.

My husband just came in (he was putting the spare tire on my truck - I got a flat today - another life expense that we cannot afford right now, but would have been able to if IGS had been true to their word) and told me that someone from IGS called him today on his cell while he was at work. He told them to refund our money because we no longer trusted their company.

It's interesting to me that they would call him. They have never spoken with him at all and all communications have been via e-mail or voice mail directed to my attention. I guess they were playing the same game as a five year old with no concept of right or wrong would try, When mom say's no, ask dad, or vice versa. Another indicator of the complete lack of ethics and morality coming from this company.
He says that the representative stated to him that they would process the refund...
We'll wait and see what happens, I'll believe it when the check clears.
Joelayn
obergbaby@hotmailcom
 144 days ago by   igs is a fraud 0 Votes
Yesterday I left the above message that purports that IGS is running a "rate-lock-fraud scheme." Today I heard through the grapevine that IGS is formulating plans to file a lawsuit against me for slander (or, more accurately, libel).

I am posting the present message to clarify and expand upon my previous post so that all in this audience fully understand the basis of my claims. My goal is to convince the readers of this thread that the intent of my previous post was not to slander or otherwise discredit IGS with false information, but rather to share the summation of my personal judgments based on my own experience and information shared with me.

It is important when you read my previous post that it is not intended as a statement of absolute fact, but rather it is my personal judgement based upon the best information available to me. My judgement that IGS is running a "rate-lock-fraud scheme" is based upon the following:

1. A person intimately familiar with the day-to-day operations at IGS, who I personally consider trustworthy (and who also probably prefers to remain anonymous; let's call him Jim), told me that IGS employees are consistently misleading their customers into believing they have rate locks when they actually do not. Jim told me that IGS deliberately decieves their customers so that IGS may benefit from day-to-day rate changes in cases where rates drop after customers are told they are locked.

2. A quick google search on "rate lock fraud" revealed the following website: http://themortgageinsider.net/mortgage-fraud/mortgage-lock-fraud-abounds.html. The article in this website describes a scheme in which mortgage originators lie about rate locks to benefit from subsequent drops in market rates. The scheme sounded a great deal like what Jim had claimed IGS is doing on a daily basis.

3. This thread of complaints, as well as others like it, seemed to become more populated and abundant shortly after rates rose between May and June this year. The marked increase in complaints supports the supposition that IGS was floating rates while they were low, and then was unable to (or at least unwilling to pay the costs to) honor their commitments to fund at the quoted rates.

4. I sent an email to IGS asking whether my rate (4.875%) had ever actually been locked. Kirk Smith wrote back that it had been locked, but that it had subsequently expired. Matt Zurbach, Kirk Smith's manager, on the other hand, wrote that it had never been locked. When I talked to Matt later that day, he told me that their computer system indicated that the rate had never been locked, but that he believed it had actually been locked because Kirk Smith told him it had. To my mind, Matt's answer was not convincing and further reinforced my suspicion that IGS was, in fact, running a "rate-lock-fraud" scheme.

I have more information that reinforces my suspicion that IGS was lying about rate locks, but I think the above information is sufficient to convey to the audience of this complaint thread that my original post was not intended as a statement of absolute fact, but rather that it was my personal judgement based on the best information available to me at the time (which happens to be the best information available to me at the present time as well).

I would like to note for the record that my conversation with Matt mentioned in #4 above occured after I posted my previous comment, and that I mention it in my present comment to show that it reinforced the same judgement that I shared in my original post.
 144 days ago by   DaveR 0 Votes
I am happy to have found this site!

I too have fallen victim to IGS and the now infamous Kirk Smith. They failed to fund my 4.5% 30 year loan Kirk said he locked in. I signed all the loan docs early May and June 2nd Kirk told me they wouldn't fund a 4.5% loan. Same story, he pushed for a re-sell at "today's rate" - 5.375! Different people there have confirmed to me verbally that they believe they absolutely NO obligation to fund a loan, even if loan docs are signed. Kirk Smith even stated they could 'unfund' a loan after funding w/o any recourse by the borrower! They initially said they would not refund my $995, then said they would if they couldn't get me a loan "as close as possible" to the 4.5%, and after threat of lawsuit and pursuing a credit card refund, they now verbally state they will return the charge, but it will take 'a couple of days'. Hmmm... where have I heard that before.

Cathy, I sent you an e-mail about Nicholas and Butler as well.
 144 days ago by   Lori P 0 Votes
Dear FED,

I'm sorry you were not able to read between the lines of my previous post. YES, I was obviously thinking of the other 2000 or so, ergo: "I will continue to fight" and "still PISSED AS HELL", etc. Apparently the sarcasm was more subtle than intended with the 'ever so politely, might I add' but the 'Kirk Smith (gag)' should have been a dead give away.

I see no ego in my post what-so-ever...believe me I WAS 'self-checking'. I will state that your sarcasm in your post to B. Whitfield regarding his "DD" did offend me, but that is neither here nor there.

I further apologize that you were offended by the spell check comment, I simply thought you wanted to be read as competent and a person to follow, and believed that by pointing out my own spell-check challenge you would read it in a more humorous manner.

Let's not use this board as a personal battle ground okay? As previously stated we are on the same team, read the "I'm with ya" part. I will continue to do anything I can to help in this battle. Enough said.

Humbly yours,
Lori P.

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