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This Complaint is about Sam Nixon, first off there is no Top Dot mortgage at the address you have listed second it is ludacris to say that a mortgage company tried to charge you 36, 000 dollars on a 200, 000 dollar loan amount there is no escrow company in the country that would draw loan documents to charge a borrower 15% it's against federal law to charge more than 5.49% of the loan amount and furthermore who in their right mind would pay 36, 000 to save 1% interest on a loan. Presenting a client with a scenario like that would be a complete waste of anyone's time. If you are going to slander a company at least make the complaint a situation that could possibly happen. My guess is that Sam Nixon works for another mortgage company lied to one of his clients and they went with Topdot instead of him so he decided to act out by writing an outlandish complaint. I would invite anyone who has any complaints about Topdot to call me at [protected] and i would be happy to explain what happened. We have an entire customer relations departement who's only job is to help make sure that all of our clients are happy with the service we provide them. I would like to see you post one of these complaints to the better business bureau where you have to prove the complaint has validity.
The complaint has been investigated and resolved to the customer’s satisfaction.
In response to Taxpayers On The Hook For Ginnie Mae’s Rampant Growth I received a nice Email from the Center for Public Integrity inviting me to take a look at Ginnie Mae’s Troubled Issuers. The data is interesting to say the least.
Problem Issuers by Compare Ratio
Compare ratio is the comparison of a lender’s default rates with other lenders in a geographic region as defined by HUD. For example, if a lender has a compare ratio of 200 percent, the Federal Housing Administration loans made by that lender are defaulting at twice the rate of its competitors in its geographic region. A compare ratio of 200 percent or more is grounds for suspension and a compare ratio of 150 percent or more indicates "a problem" lender, according to FHA Commissioner David Stevens.
Compare Ratios Over 150%
Pine State Mortgage Corporation - 314% - Default Rate 18.86%
Premium Capital Funding, LLC dba Topdot Mortgage - 238% - Default Rate 14.31%
Ideal Mortgage Bankers, Ltd, dba Lend America^ - 235% - Default Rate 14.14%
IndyMac FSB, dba OneWest Bank - 211% - Default Rate 12.67%
First Horizon Home Loans dba First Tennessee - 207% - Default Rate 12.45%
First American Mortgage Trust - 205% - Default Rate 12.31%
First Guaranty Mortgage Corp. - 204% - Default Rate 12.26%
American Financial Resources, Inc. - 202% - Default Rate 12.16%
Weststar Mortgage Corporation - 198% - Default Rate 11.88%
Gateway Mortgage Group - 198% - Default Rate 11.9%
Colonial Bank - 189% - Default Rate 11.38%
MVB Mortgage Corporation - 183% - Default Rate 11.01%
GMAC Mortgage - 171% - Default Rate 10.29%
Allied Home Mortgage Corporation - 168% - Default Rate 10.09%
Taylor Bean & Whitaker Mortgage^ - 163% - Default Rate 9.77%
Shore Financial Services, Inc. dba Shore Mortgage - 159% - Default Rate 9.54%
Your defensiveness & RUDE attitude is exactly what I encountered when speaking with TopDot recently. You must be the President of the joint.