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These companies (NEW SOURCE LENDING, FLORIDA CAPITAL and APPRAISAL SEE) commiserated to charge $435.00 on my credit card before supplying an appraisal of my condo. I am waiting a month and a half now for the refund back to my citibank (wonderful bank!) credit card. I get the run around from everyone I talk with within these companies.
I was instructed to give the credit card number before the REFI was to be accepted or declined (being told by their agent Danny that there was a 98% chance I would receive the REFI). Common sense instead of SCAM would tell me that the appraisal from APPRAISAL SEE, located in California would provide the service before charging my card. FLORIDA CAPITAL had given the authorization to Appraisal See to charge the $435 fee. Unbeknownst to me that FLORIDA CAPITAL was even involved in this REFI!
NEWSOURCE LENDING told me I was declined and NO ONE took ownership to initiate the refund of $435. I had to have Citibank dispute the charge. Nov 8th was the charge date and still today December 19th, I do not have that refund in my account. Citibank is holding on to the credit to my account until they get the money back from Appraisal See. Only Monday did I receive a call from NewSourceLending (Lee) that they had initiated a refund.
I dont find this Ethical or a high integrity operation. Between the THREE of them, they have SCAMMED me for a measly $435. In the meantime I cannot use that money for other expenses. Like FLORIDA CAPITAL doesn't have enough money to take this from me and only on insistence and threats are they now supposedly dealing with it.
BEWARE of any of these companies. As I write this I STILL HAVE NOT received the money even though they promised to do so at an earlier date. Im told time and again….its being worked on!
Just because these pop ups come up on your computer screen (“Put your age in here to find out your refi mortgage payments”). You need to research the reputation of these companies before getting involved with them. Well, then SHAME on the advertisers that put this on the computers without also researching reputations.
Well, then SHAME on the advertisers that put this on the computers without also researching reputations.
Looks like a pattern from these three companies. I applied with New Source Lending (NSL) (Damon/Lee) on 7 December 2012. I was told it would take 14 days to close even with a subordination of my HE line of credit, I could expect a new loan before Christmas. On Dec 12, Appraisal Fee Service sent me an email asking for my CC. In early January I got an updated Good Faith Estimate from Florida Capital Bank Mortgage (FCM) with new fees on it. In late Jan (still no close on the refi) I got another GFE from FCM with new fees, a higher payment and a larger loan balance. I paid my Credit Union a fee to do the paperwork on the HELOC and was told NSL had sent incorrect forms and they were filled out wrong. My loan is only for 40% of the value of my home, so I see no reason it couldn't close. Lee at NSL has pretty much stopped calling or emailing, so I'm thinking the want me to go away.
I still have not received an appraisal so this morning, 25 February. I will contact my bank to back out charges and call around for another lender. The Department of Real Estate (DRE) show complaints on several of their officers and staff at NSL. I intend to file a complaint with the BBB and DRE. Seems like NSL is pretty much incompetent is handling a simple Refi. I'm almost 70 and have been buying and Refi-ing homes since 1973 and never had this much trouble. One home, no rentals, easy Refi for a lender with morals. :(