The complaint has been investigated and
resolved to the customer's satisfactionResolved Embrace Home Loans — Integrity
resolved to the customer's satisfaction
I really start to question the actual knowledge, that the LO's of Embrace Home Loans have, when I'm dished out a pile of BS, just to get me to apply for a mortgage loan through their company. I recieved one of their solicitations once, back in 2009, so I was curious, and spoke with a guy named Ian Aubourg. He tried selling me on a mortgage refinance, went through quoting the rate, the reputation of the company, and then tried to sell me on the fact, that they would take my escrow money, which is supposed to be used to pay my RE taxes and my homeowners insurance, and they'll invest it into a HIGH-YIeld money market account. I then asked him, what types of securities they would invest my moeny in, and he coudn't answer that. Little did he know at the time, that I am a mortgage loan originator, and have been in the industry for 15 years, and that if they did just that, without disclosing to me as to how my money would be invested or didn't give me the choice as to what types of securities to invest my money in, then they would be breaking every TIL, HMDA, and RESPA law. Not only that, but I also questioned, that in the case of a monetary loss, because let's face it, HIGH-YIELD means HIGH RISK, how would I be guaranteed or insured against any such loss, and he could answer that either.