The complaint has been investigated and
resolved to the customer's satisfaction
Resolved
Top Dot MortgageFraud and scam

So you see a fancy advertisement to refinance your high rate mortgage and 'take advantage' of new FHA lower rates and save $250-750 a month with Top Dot. But when you sit down for a quickly closing on a 'RE-FI' as they call it, tons of extra costs are added to your old note balance. $200, 000 old note at 7.5%, on the surface lowers the 7.5% to 6%, but the 200, 000 debt on your house/coop is now $236, 708.50.

When you walked in at 10am to their fancy office in jericho long island, you owed 200K at 7.5%, now you owe 36, 708.50 MORE!!! The monthly may appear lower by $140 dollars, but now your OLD-12-years-left-to-pay, is back up to 20-25-or even 30.

They use a factor LTV--loan to value-and work magic to 'approve your numbers', even do you a favor and let you add your mother-in-law, or son, or nephew, or friend to the 'note' so it looks like you have more income- DO YOUR SELF A FAVOR- wear a tape recorder-and play back the hypnotic jargon- because with five high pressure sales people surrounding you.smiling of course.

Responses

  • Ze
    Ze Shrike Nov 17, 2008

    This company is using deceptive television ads masquarading as news reports about the mortgage industry. They are also violating the Fedral do not Call Registry.

    2 Votes
  • Le
    Lew Jan 26, 2009

    Dealt with them before, ### scammers trying to get away with as much money as possible. Get a Good Faith Estimate up front and shop around you will find better closing cost figures. They lie about everything, if they are talking they are lying. If nobody else can approve you except topdot then they can't approve you either they will just lie to you and waste your time/money. Fix your credit and wait till you can really afford to buy a home, if you are unsure about any lending institutions then use the bank you bank with. They have to see you every week and will be upfront and honest with you. You can also ask a Realtor who has been in the business for a while who they recomend. I am a Licensed Real Estate Professional who prides myself on honesty and integrity, something hard to find today in this world of chaos and deception.
    Lew Skoko
    New Home Galleria
    Orlando, FL

    2 Votes
  • Wi
    william harrison Jan 28, 2009

    for the realtor above, how would you even begin to say "ask a realtor" lol. every realtor has a mortgage comany in thier back pocket and referrals are all part of the game. Talk about surviving off the dead.. And my refinance with topdot was incredible, i found this site before i closed, asked the questions and i closed with a rate my local bank couldnt offer and the costs were only 9k on a 279k loan. If you think thats bad than you need to shop around and get some truly bad qoutes. lol, or maybe ask a realtor HA

    -2 Votes
  • Ch
    charlie Feb 05, 2009

    This company sucks! They told me that they could finance me and I asked if mobile homes was a problem and they said no. I then authorized a appraisal and spent many dollors for it, ... then tried to contact them back the next week and all they would tell me was that they not do mobile homes and now I am out all the money and time for the appraisal. All they did was lie and put me into a more finacial burden because if this.

    2 Votes
  • Ri
    Richie Feb 05, 2009

    I don't think topdot is that bad, they did a loan for me when no one else could and it worked out fine. Look at thier better business bureau profile, 19 years of business and 3 complaints, not too bad to me.

    -2 Votes
  • Jo
    Jon McEwen Feb 16, 2009

    topdot aka bls funding is a total scam. Look at their commercials it says in big red letters "FHA HOTLINE" what a scam. Call this number and you will be directly linked to fha!!!

    Of course the banking dept. miss this.

    Stay away from these scam companies.

    2 Votes
  • Ro
    Roxanner Feb 19, 2009

    To all the consumers that have had a bad experience from TopDot I would suggest you go onto New Jersey Department of Banking and Insurance and file a complaint. I was working with the company on a FHA streamline and they not only had me to do an appraisal which is not necessary or a requirement for a streamline refinanice. When I went to close the loan TopDot had added 3.06% points to the loan which totaled over 12, 000.00 and this amount or points was never apart of the argeement nor was it listed on my goodfaith estimaite. When I asked for the HUD form which has all of the final numbers this is when I discovered the amount that was added without my knowledge. I called and spoke to the loan officer who states he has no idea why the ove 12k was added to the loan. It has been 24 hours and no update on the error. After reviewing the company's record of complaints I see that this is a regular pratice they have trying to take advantge of homeowners. It's a SHAM PLEASE DON"T USE TOPDOT YOU WILL OWE MORE THAN YOU KNOW...I have filed a complaint and I am requesting my appraisal fee back.

    2 Votes
  • Sp
    sparky Feb 23, 2009

    TOPDOT IS THE BEST THAT HAS EVER DONE IT.

    -3 Votes
  • Sp
    sparky Feb 23, 2009

    topdot is a fair and professional organization built behind people who like to help other people. we are a company of integrity, honesty, and full disclosure.

    -3 Votes
  • Ka
    kathyh5921 Feb 24, 2009

    I did a refinance with TopDot and the had me do an appraisal and said I had a value of $295000 and 2 months later our bank said the value was only $240000, also the appraisal says we live in a different county that we do and have a partial basement. We live in FLORIDA!!! No basement. Thinking about contacting a real estate lawyer but is has been 1 1/2 years. Think it will still help?

    2 Votes
  • Tf
    T fever Mar 09, 2009

    Worked briefly at TopDot back in 2007 in Jericho, NY - their Headquarters. They are all about bringing in more customers and closing the deal. A very competitive environment within. Most of their 'Mortgage Specialists' -as they prefer to be called- are money hungry get rich quick hustlers and hardly anyone had any educational background in finance. Every day, they would have a sales meeting at around 4pm in which was pretty much a 'pep rally' for the salesmen and for them to practice their pitches. Being there reminded me so much of the movie 'Boiler Room'.

    They would regulary be training a 'new class' of mortgage specialist every week in their building which focused primarily on getting customers. Occassionaly, they would bring in some of their 'top producers' wo would boast about their techniques and the fees they charged claiming 'I'm worth it'. Big egos and attitudes and the company is very tightly controlled by family members who are all in key positions.

    I once asked how could they approve a 75 year old man for a 350k -30 year mortgage with no visible income. Did they expect this guy to live to 105 years old? And his closing costs were in excess of 20k. I have done deals in the past with reputable banks like Wells Fargo for double the money but half the closing costs. I was quickly dismissed on the basis that I 'was not cut out for this' and that I asked too many questions. They were right, I'm not a snake oil salesman. Seeing the way the economy melted down, it is no doubt because of organizations like this. Be smart, go to a regular bank. If you get rejected for a loan, chances are you cannot afford it.

    3 Votes
  • Tr
    triumph1 Mar 10, 2009

    topdot is the most honest and caring company I've ever known. They treat you with the utmost respect and deliver great results. The employee's there are based around family and understand everybody's situation like it was there own. I would recommend topdot to everyone I know. A company that has been open for more then 15 years and is still running strong is a great company that will last forever.

    -2 Votes
  • De
    des Mar 17, 2009

    Its funny a lot of the positive comments are written by the companies (Topdot)people. I agree with T Fever. When I saw what I suspected were 'questionable procedures', I was told that I ask too many questions too. These boiler room tactics are what got us here in the first place. While the economy is trying to recover this company and the other predator that advertises like they are part of the government (you knbow who you are) are sending a whole new set of deperados into trouble

    0 Votes
  • St
    stopthescam Mar 19, 2009

    I agree this company sucks the life out of everyone who works with or for it!! Their values are lie cheat and steal from clients and employees. Do not get invested with them you will lose 99% of the time.

    1 Votes
  • Mr
    Mr. fokrap Mar 22, 2009

    i got a 4.5% 30yr fixed from them, honest, caring, and smart as anybody could be.

    -1 Votes
  • Mr
    Mr. fokrap Mar 22, 2009

    Topdot Mortgage is a national mortgage bank that provides personalized loan solutions in a friendly responsive fashion. We were founded in 1995 and we maintain our corporate headquarters in Jericho, NY. We have 13 branch offices and we are licensed in 41 states.

    Our approach
    At Topdot, we’re turning the mortgage industry upside down and shaking out all of the unnecessary jargon, mystery and confusion. The simple truth is that most people don’t know the first thing about what kind of mortgage is right for them or how to go about figuring it out. We want to end all of that by providing straightforward, low-stress loans that really make sense for the borrower. In fact, at our core lies the pledge that every Topdot mortgage must provide a tangible benefit to our client.

    The truth about mortgages is that there’s no one standard solution that’s best for everyone. On the surface, the longest term might look good, but when we dig a little deeper, it could end up costing you more money than necessary. For example, if there’s a chance you may move within five years, a 30-year mortgage may be all-wrong for you. That’s why our customized approach is so important to figuring out what’s best for your individual needs. At Topdot, we spend that extra time getting to really understand you and building a loan that will truly benefit you.

    Our website contains a lot of educational information on mortgages and the mortgage process. So feel free to read up and learn what you need to make this process less mysterious. Or leave the guidance to us by contacting one of our mortgage specialists or applying online through our online application. Either way, we are here to help you get the right mortgage for your personal lifestyle and situation.

    0 Votes
  • Mr
    Mr. fokrap Mar 22, 2009

    Topdot Mortgage is a national mortgage bank that funds over $2.5 billion in residential, commercial and construction mortgages annually. Originally founded in 1995 as a broker, Topdot has since transformed into one of the nation's leading full service, privately owned mortgage lenders. We are headquartered in Jericho, NY, maintain 13 branch locations and are licensed to originate loans in 41 states.

    Topdot Mortgage started off as BLS Funding in 1995. In 2001, the name was changed to Premium Capital Funding LLC (PCF). And on May 1, 2006, we began doing business as Topdot Mortgage (although our legal name remains “Premium Capital Funding LLC DBA Topdot Mortgage”).

    In the mortgage industry, many companies change their name when they get into trouble or develop a bad reputation. This was not the case with either of our name changes. On the contrary, our name changes marked positive milestones in our corporate history. We became “PCF” when we added a bank to our already existing brokerage. Likewise with Topdot. We knew that our company was something really special and that we offered a markedly better service to our clients. We wanted a name and image to reflect our true personality and offering. “Topdot, ” a completely original word, and our vibrant, fun-loving identity do just that.

    0 Votes
  • Mr
    Mr. fokrap Mar 22, 2009

    I USED THEM BECAUSE OF THE BETTER BUSINESS REPORT ON THE BBB.COM WEBSITE. I TRUST THE BBB MORE THAN ANY ONE PERSON ON AN EMAIL CHAIN. FACT IS NOT EVERY ONE CAN QUALIFY FOR A LOAN AND I AM JUST ONE OF THE LUCKY ONES I GUESS. TOPDOT HAS REMAINED IN BUSINESS WHILE MANY FDIC BANKS ARE GOING UNDER. I THINK THAT PEOPLE WHO ARE COMPLAINING ABOUT THIS COMPANY ARE DOING SO MERELY BECAUSE THEY WISH TO TARNISH THE NAME. I USED THEM, AND SO DO THOUSANDS OF OTHERS. DO NOT BE FOOLED BY RANDOM COMMENTS FROM PEOPLE WHO ARE OBVIOUSLY BIASED.

    READ BELOW --> DIRECT FROM THE BBB.COM SITE...CHECK FOR YOURSELF...DO NOT BE A SHEEP.

    New York BBB Reliability Report for
    TOPDOT MORTGAGE

    A BBB Accredited business since 03/08/2000

    This business has a satisfactory record with the BBB





    Business Contact Information

    Name:TOPDOT MORTGAGEAdditional Business Names:Premium Capital Funding LLC
    Address:125 Jericho Turnpike, Suite 400
    Jericho, NY 11753View Location Map

    Original Business Start Date:1/1/1995
    Principal:David A. Brown, PresidentPhone Number:(516) 870-1000Additional Phone Numbers:[protected]


    Fax Number:(516) 870-1124Email Address:[protected]@topdot.comWebsite:www.topdot.comType of Business:Mortgages



    The information in this report has either been provided by the company, or has been compiled by the Bureau from other sources.

    Program ParticipationBack To Top This business participates in the Bureau’s MIP program and has committed to following ethical business practices. As part of this program, it has agreed to use special procedures consisting of mediation and arbitration, if necessary, to resolve complaints. Click here for more information on BBB accreditation standards.

    Customer ExperienceBack To Top Based on BBB files, this business has a satisfactory record with the Bureau. A “satisfactory record” means that a company has been in business for at least 12 months, and has properly addressed complaints referred to it by the Bureau. The business cannot have an unusual volume or pattern of complaints, or any government actions against it involving its marketplace conduct. The Bureau must understand and have no concerns about the business’s products, services and type of business.

    The company's size, volume of business, and number of transactions may have a bearing on the number of complaints received by the BBB. The number of complaints filed against a company may not be as important as the type of complaints, and how the company handled them. The BBB generally does not pass judgment on the validity of complaints filed.

    Complaint Outcome Statistics:Back To TopComplaint Outcome Last 12 Months Last 12..36 Months Total
    Resolved
    Consumer received part of the requested resolution 2 0 2
    Administratively Judged Resolved
    The Company has responded to the complaint(s) addressing the disputed issues, however, the consumer remains dissatisfied 2 0 2
    TOTAL 4 0 4
    Complaint Issues:Back To TopPlease understand that complaints may concern more than one issue

    Complaint Issue Last 12 Months Last 12..36 Months Total
    Contract Disputes 1 0 1
    Selling Practices 2 0 2
    Service Issues 1 0 1
    TOTAL 4 0 4

    Report as of: 3/22/2009


    Copyright © 2009 BBB of Metropolitan New York, Inc.

    As a matter of policy, the Better Business Bureau does not endorse any product, service, or company. BBB reports generally cover a three-year reporting period, and are provided solely to assist you in exercising your own best judgment. Information contained in this report is believed reliable but not guaranteed as to accuracy. Reports are subject to change at any time.

    The Better Business Bureau reports on members and non-members. Membership in the BBB is voluntary, and members must meet and maintain BBB standards. If a company is a member of the BBB, it is stated in this report.

    0 Votes
  • To
    Topdot Sucks Mar 22, 2009

    Topdot is a SCAM and a RIPOFF!

    Go to the Topdot website.

    The interest they quote you is 5.00%

    The APR is 6.75%

    APR means all the fees Topdot will charge you!

    The proof is in the pudding!

    Topdot is a SCAM and a RIPOFF!

    Call 800.965.6897 and say you want an FHA loan with 0 points no origination fee and no discount fee and see if the rate they quote you is not 6.50%.

    BBB means nothing.

    Call your state Banking Department and file a complaint!

    Topdot is a SCAM and a RIPOFF!

    -1 Votes
  • To
    Topdot Sucks Mar 22, 2009

    As far as:

    I USED THEM BECAUSE OF THE BETTER BUSINESS REPORT ON THE BBB.COM WEBSITE. I TRUST THE BBB

    I work for Topdot because I'm a Crook!

    Topdot Mortgage is a national mortgage bank that funds over $2.5 billion

    Madoff was a Crook too!

    He had 50 Billion.

    i got a 4.5% 30yr fixed from them, honest, caring, and smart as anybody could be.

    He has to be a CROOK!

    Call 800.965.6897 and say you want an FHA loan with 0 points no origination fee and no discount fee and see if the rate they quote you is not 6.50%.

    Why has nobody said I called?

    Oh. Watch all the Crooks say I called!

    See for yourself!

    Topdot Mortgage is a SCAM and a RIPOFF!

    They advertise on T.V. with a make believe news cast that states mortgage rates are at 5.00%. What they don't tell you is that it will cost you 4.5 points on every loan (on a $200, 000.00 loan you will pay $9, 000.00). Understand that if you shop around you can find 5.00% with zero points.

    Do not do business with them; they are a SCAM and a RIPOFF.

    On top of the $9, 000.00 fee, they will charge you a $1, 795.00 application fee. Plus they will charge you a doc prep fee, credit report fee and so on. Add that up! You’re paying over $12, 000.00 to Topdot for what. And don't forget that 5.00% is paying about one point (this means that Topdot is making 1% of your loan amount you will not see).

    That means Topdot makes over $14, 000.00 on your $200, 000.00 loan.

    If your mortgage balance is $200, 000.00 when Topdot is done with their fees you'll owe $225, 000.00.

    Topdot was called BLS Funding. BLS Funding was a SUBPRIME lender.
    Now they are called Topdot.
    Now you know what the suprime lenders are doing.

    If you think I'm making this up call Topdot at 800.965.6897 and say I saw your ad on T.V. and I want to refinance my mortgage with the 5.00% rate I saw on T.V.

    Ask if there is an origination fee (Yes. One percent). Then ask if there is any discount fees (Yes. Three and one half percent). If they say there are no points then your rate is 6.5%. This means that because your rate is so high Topdot still makes 5.5 points on your loan.

    Try it call 800.965.6897 and say you want an FHA loan with 0 points no origination fee and no discount fee and see if the rate they quote you is not 6.50%.

    It's plain and simple. Topdot Mortgage is a SCAM and a RIPOFF!

    If you are reading this and think I am making this up and need more proof.

    When you get to the closing take a guess who owns the title company.

    Yes! Topdot.

    So if you thought you were done being ripped-off your wrong. Now Kensington Title starts padding on their fees. Kensington Title charges about $2, 800.00 for title fee. Attorney fee $400.00, electronic documents $250.00, closing agent $795.00, document review $250.00. If you think I'm making this up ask to see a Good Faith Estimate.

    Call 800.965.6897 and ask them to send you a break down of all the fees they charge known as a Good Faith Estimate.

    They normally send one out about one day before you are going to close. So you never know about the fees until it's too late and by this point you have paid from $300.00 to $450.00 for an appraisal.

    Try it! Call 800.965.6897 and tell them you saw the Topdot FHA Hotline number on the Gerry Springer show and want the 5.00% mortgage rate.

    As far as:

    topdot is the most honest and caring company I've ever known. They treat you with the utmost respect and deliver great results. The employee's there are based around family and understand everybody's situation like it was there own. I would recommend topdot to everyone I know. A company that has been open for more then 15 years and is still running strong is a great company that will last forever.

    Topdot is the most honest. They're crooks. Honest crooks. But still crooks.

    Try it! Call 800.965.6897 and tell them you saw the Topdot FHA Hotline number on the Gerry Springer show and want the 5.00% mortgage rate.

    Try it! Call 800.965.6897 and see for youself!

    Try it! Call 800.965.6897 and tell them you saw the Topdot FHA Hotline number on the Gerry Springer show and want the 5.00% mortgage rate.

    topdot is a fair and professional organization built behind people who like to help other people. we are a company of integrity, honesty, and full disclosure.

    Honesty. What their donig is robbing people!
    Full disclosure. They will lie to you!
    Integrity. See for yourself!

    Call 800.965.6897 and ask them to send you a break down of all the fees they charge known as a Good Faith Estimate. Honestly!

    I don't think topdot is that bad, they did a loan for me when no one else could and it worked out fine. Look at thier better business bureau profile, 19 years of business and 3 complaints, not too bad to me.

    Of course not! Your a crook. I don't think crooks are that bad. That' because your a crook!

    Try it yourself!

    Call 800.965.6897 and tell them you saw the Topdot FHA Hotline number on the Gerry Springer show and want the 5.00% mortgage rate.

    Tell them you read this report and want to know if they charge any fees.

    Call 800.965.6897 and ask them to send you a break down of all the fees they charge known as a Good Faith Estimate.

    TOPDOT IS THE BEST THAT HAS EVER DONE IT.

    Of course your a crook. "I think we're the best crooks." That' because your a crook!

    Call 800.965.6897 and tell them you saw the Topdot FHA Hotline number on the Gerry Springer show and want the 5.00% mortgage rate.

    And my refinance with topdot was incredible, i found this site before i closed, asked the questions and i closed with a rate my local bank couldnt offer and the costs were only 9k on a 279k loan.

    Topdot fees where only $9, 000.00!

    Call 800.965.6897 and tell them you saw the Topdot FHA Hotline number on the Gerry Springer show and want the 5.00% mortgage rate.

    -1 Votes
  • To
    Topdot Sucks Mar 22, 2009

    See for yourself:

    Topdot is a SCAM and a RIPOFF!

    Mr. fokrap writes, " i got a 4.5% 30yr fixed from them"

    Then he writes, "FACT IS NOT EVERY ONE CAN QUALIFY FOR A LOAN AND I AM JUST ONE OF THE LUCKY ONES I GUESS."

    If that is not enough, Mr. fokrap writes, "I USED THEM"

    Then Mr. fokrap writes, "Our website contains a lot of educational information on mortgages and the mortgage process. So feel free to read up and learn what you need to make this process less mysterious. Or leave the guidance to us by contacting one of our mortgage specialists or applying online through our online application. Either way, we are here to help you get the right mortgage for your personal lifestyle and situation."

    See for youself!

    Topdot is a SCAM and a RIPOFF!

    Did he get a loan at Topdot or does he work there?

    He's a CROOK!

    It's hard to repeat a lie! Even if your a crook!

    There is an old saying, If it walks like a duck, looks like a duck and hangs out with other ducks it's probably a duck!

    Topdot is a SCAM and a RIPOFF!

    As far as:

    I THINK THAT PEOPLE WHO ARE COMPLAINING ABOUT THIS COMPANY ARE DOING SO MERELY BECAUSE THEY WISH TO TARNISH THE NAME.

    I'm not complaining! It sound like your the one complaining?

    THE TRUTH WILL SET YOU FREE!

    Call 800.965.6897 and say you want an FHA loan with 0 points no origination fee and no discount fee and see if the rate they quote you is not 6.50%.

    Topdot is a SCAM and a RIPOFF!

    0 Votes
  • Mo
    Mortgage Man Mar 23, 2009

    EVERYONE on this post is an idiot and they don’t know the first thing about banking or their policies and compliance. All the loan officers at Topdot are obviously cleaning up the mess that all the CONSUMERS put themselves into a year or two ago. If you didn’t borrower more money then what you can afford to pay then your mortgage wouldn’t be such a mess. Furthermore, loan officer are coming in a t 9 am and staying until 9 pm to answer all the calls and try to make sense of the garbage mortgage they were put into by their previous L/O. And by the way- TOPDOT mortgage is an FHA endorsed lender-(DO YOU KNOW WHAT THAT EVEN MEANS)- probably not so let me help- it mean TOPDOT does not sell to investors like an ordinary mortgage broker or private bank. Its mean that TOPDOT obviously has to be writing good paper to have such a privileges along with the fact that have been in the better business bureau for over 15 years. Its not the loan officer fault that predatory lending was active a few years ago and now L/O's are doing their best to fix these mortgages. Meanwhile LO's are spending more time at work in front of their computers than they do in front of their families. Cut em a break already. Be KNOWLEGDABLE about your mortgage and DONT GET YOURSELF into MORTGAGES YOU CANT AFFORD-



    B2

    0 Votes
  • To
    Topdot Sucks Mar 23, 2009

    As far as:

    EVERYONE on this post is an idiot and they don’t know the first thing about banking or their policies and compliance.

    That’s not very nice!

    I would like to be called an educated consumer.

    And there are two types of people on this site: Consumers and Crooks!

    All the loan officers at Topdot are obviously cleaning up the mess that all the CONSUMERS put themselves into a year or two ago.

    I guess that’s the Topdot attitude!

    Of course you’re cleaning up the mess. You’re a crook!

    If you didn’t borrower more money then what you can afford to pay then your mortgage wouldn’t be such a mess.

    That’s not very nice!

    I guess this is the way crooks think!

    Furthermore, loan officer are coming in a t 9 am and staying until 9 pm to answer all the calls and try to make sense of the garbage mortgage they were put into by their previous L/O.

    Once a crook always a crook!

    And by the way- TOPDOT mortgage is an FHA endorsed lender-(DO YOU KNOW WHAT THAT EVEN MEANS)- probably not so let me help- it mean TOPDOT does not sell to investors like an ordinary mortgage broker or private bank. Its mean that TOPDOT obviously has to be writing good paper to have such a privileges along with the fact that have been in the better business bureau for over 15 years.

    That's all crooks say, "Check with the BBB."

    Don't take my word!

    Or the BBB!

    Call 800.965.6897 and say you want an FHA loan with 0 points no origination fee and no discount fee and see if the rate they quote you is not 6.50%.

    Tell them you want the 5.00% you saw on T.V.

    See for yourself!

    Call 800.965.6897 and say you want an FHA loan with 0 points no origination fee and no discount fee and see if the rate they quote you is not 6.50%.

    It’s not the loan officer fault that predatory lending was active a few years ago and now L/O's are doing their best to fix these mortgages. Meanwhile LO's are spending more time at work in front of their computers than they do in front of their families. Cut em a break already. Be KNOWLEGDABLE about your mortgage and DONT GET YOURSELF into MORTGAGES YOU CANT AFFORD-

    Wow! Now it's the borrowers fault!

    You can see for yourself!

    This is an example of how CROOKS think!

    Topdot is a SCAM and a RIPOFF!

    Call 800.965.6897 and say you want an FHA loan with 0 points no origination fee and no discount fee and see if the rate they quote you is not 6.50%.

    Do not do business with them; they are a SCAM and a RIPOFF!

    You can see for yourself!

    0 Votes
  • To
    Topdot Sucks Mar 23, 2009

    Mortgage Man:

    Please go to the Topdot website www.topdot.com

    The interest rate is 5.00%

    The APR is 6.75%

    Since we don’t know the first thing about banking or their policies and compliance.

    Please explain why your ARP is so high?






    Consumer or Crooks?

    You can see for yourself!

    0 Votes
  • Rh
    rh10102 Mar 25, 2009

    I'm a first time dealer with this company. So far, they have been very attentive to my needs. However, they keep asking for all sorts of documents that have me all confused. I still haven't received the good faith estimation. Should I move forward (since we've been working together for 3 months), or should I just call it quits? They haven't charged me a penny yet, except for the FHA appraiser ($375).

    0 Votes
  • Sc
    scam buster Apr 06, 2009

    topdot is heavily advertising on CNBC now. they try to make their commercial look like CNBC itself, even copying the sets and color of background!

    0 Votes
  • Do
    DOGMAN4LIFE Apr 08, 2009

    someone got fired from Topdot and now their pissed off...lol.

    I have worked for many mortgage companies, been in the business for over 12 years. Some good companies some bad companies. Truth is in every company you will have scam artist, sleazy, immoral, loan officers and good hearted, caring, motivated, loan officers. You wont know which is which, ...its a roll of the dice. Its sales. What I can say is I dont know many Mortgage companies with only 3 BBB complaints in over 10 years. And ask yourself a question if Topdot is so bad, and all these complaints are legitimate then why does the BBB only recognize 3 legitimate complaints in 10 years? But sure take what you read in an online blog as a solid and reliable source...lol.

    I would bet almost all of the above complaints come from:

    A. Ex-Employees - People who were decent lo's during the boom, and all of a sudden they arent making money anymore. They tell everyone how great they were during the boom, and its just a tough market, no one is making money right now. Instead of actually working, they make excuses. Most probably surfed the net all day or spent 5 hours analyzing a file that was a turndown to begin with so they didnt have to get on the phone. STOP MAKING EXCUSES FOR YOURSELF...LAST I CHECKED EXCUSES WONT PAY THE BILLS.

    B.Clients who "knew better"- I get calls all day from people who took a variable rate mortgage two years ago because they didnt like the sound of a 6.25% int rate on a fixed loan, so to save themselves $55 a month they took 2 year fixed at 5.75. And now that values have dropped(just like their loan officer said they would), and guidelines have changed(another "line" loan officers use to push you into the deal right?...lol). Too many people looking for the easy out, for an interest rate or a payment they dont deserve or qualify for, most of you made your bed when you told your intial loan officer who had an approved loan for you to take a hike because "you knew better"...lol...what a joke.

    There are also those who have told multiple loan officers they were just going to wait till rates came down...and now that rates are down...so is their property value and now they cant refinance.

    Bottom line is most people who are in trouble right now had life line after life line thrown to them and they continued to refuse the help because they were sure they could get a better deal for a cheaper price. Now when they have no other options they want to blame the last company they worked with. Start taking responsibilty for your own mistakes. You didnt know? Then educate yourself. You werent sure? The be more decisive. You thought you knew better? Then lie in the bed you made and quit blaming everyone else.

    Personally, I work as hard for my clients as they work for themselves. If I call and leave a message and dont get a call back, that file is put at the bottom of the stack. If I ask for documents within 24 hours and get them in 48, expect the same service from me in return. Too many people to help in this market, I wont waste my time with those who dont want the help.

    But for those people who call in and are committed to getting this done in a timley fashion...I will work on their loan as if it were mine. So a heads up to those clients calling in to any mortgage company...the tides have turned...there are more clients than loan officers...you want great service...then be a great customer.

    Topdot is just a company like any other...within the company you will find cutt-throat sales men and women who are trying to survive just like you, as you would in any sales oriented company. You will also find sales professionals who take pride in finding solutions for their borrowers, go above and beyond to help their clients, as you would in any sales oriented company. What does make Topdot standout in my mind is the fact that they are the only company I know that has a credit department who will work to fix your credit for absolutely no charge.

    Bottom Line, if your approved for a 30yr Fixed refinance and its saving you money in this market, then take it. Whether its Topdot, Countrywide, Ditech, LendAmerica...doesnt matter, I'll say it again, if you have an offer on a fixed rate saving you money, better take it because there is a good chance its the last offer your gonna get for a long time. Anyone arguing that point probably hasnt been in the business long or wont be in it for much longer.

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  • Mi
    Mike P. Apr 08, 2009

    Not for nothing, I'm neutral on the matter, but to the guy who said he was "dismissed" aka fired for not being able to cut it. You're talking about reputable banks like Wells Fargo, etc...yea reputable banks who buy the paper that Topdot sells - they're the same bank essentially. Topdot's a corresponding lender - they sell their paper to every major "reputable" bank out there. Maybe you should stop being such a pansy and say that you can't sell, because you don't have to be a snake oil salesman to get somebody a loan. As for consumers who were ripped off, you're right some individual loan officers are ###, but you also have to shoulder some of the blame for being too trusting. Once everyone starts accepting blame mutually, we can all get passed this mess. But really dude, asking questions??? You weren't fired because of that, you were fired because you're interrogating the company you work for on how they train their people and they didn't like it - if you didn't like their practices then quit - because you're sure as hell not going to change them.

    1 Votes
  • Mi
    Mike P. Apr 08, 2009

    In addition I agree with mortgage man...the majority of American consumers are border line mentally ###ed. Case and point "topdot sucks" person - APR is not your interest rate, and you have to qualify according to the government's standards. Most times a 600-620 FICO score (FICO=credit), income (under 50%debt ratio), equity, and a few other factors such has home style, etc...Topdot is a vessel for which you get your loan at wholesale rates as opposed to retail rates. So if ### consumer A walks into Wells Fargo, he will be quoted let's say 5.5% on a conventional loan with no points for arguments sake. Consumer B walks into Topdot and is quoted 4.5% with 3 points...who's the smarter consumer? Why don't you educate yourself on finance before you enter into a discussion for which you will get destroyed. Granted, some loan officers are ### and should be held accountable, but shoulder the blame for calling in off an infomercial and expecting the world. I mean you must be mentally deficient in some way if you can't figure out that marketing is meant to drag you in. But ultimately, you have to sign on the dotted line to seal the deal - if you do that with your so-called high standards of ethics and strong opinions about banks, then you're a hypocrite...or you're a ###. So why not be a smart person and formulate a good argument, like, why did I vote for a President that wants to tax my pension - or cut health care for veterans injured overseas, or increase welfare for lazy [censored]heads, or who is sucking every last dollar from the American people to re-distribute my hard earned money to ###s like yourself who overextended themselves only to turn around and blame ignorance for your woes. And now you want a bailout too??? For making poor decisions, for not being able to say, "hmmm I make $3, 000 a month...my new mortgage will be $3, 200...YEA LET'S DO IT I LOVE THE KITCHEN SPACE." We've raised a generation of mindless ###s who can't think or do things for themselves, and you're the shining example, someone who blames T.V. and marketing on a magic box that shoots pictures and sounds to your living room. I'm so sick of idiots like you, just go get hit by a car...and yes "THAT'S NOT VERY NICE!!!".

    1 Votes
  • Mi
    Mike P. Apr 08, 2009

    "Topdot was called BLS Funding. BLS Funding was a SUBPRIME lender. Now they are called Topdot. Now you know what the suprime lenders are doing." - Another thing, BLS Funding was a broker that morphed into a wholesale bank with major investors, basically every bank you see on T.V. - they were never a sub-prime LENDER. I hate people like you, you're a grown child. And it's Jerry Spring not Gerry Springer...shows what type of intelligence you possess, that you would call an infomercial aired during Jerry Springer - shouldn't you be at work? One more thing before I leave, if most of these so-called scam artists - which some are ### I agree - I'm not defending anybody, but if most of them told you what you would be getting...you would go to the next infomercial and get ripped off by the next guy who told you what you want to hear - OR WHO DREW UP A GOOD FAITH ESTIMATE. They lied to you because they knew you were too stupid for your own good and you can't help yourself. And a good faith isn't legally binding - I could write you a GFE in crayon and I don't even do mortgages, and chances are you would believe that GFE written in crayon. I should probably use pictures as well since you're probably illiterate. Peace I'm out you mental midget.

    1 Votes
  • To
    Topdot Sucks Apr 10, 2009

    Do not do business with them; they are a SCAM and a RIPOFF!

    DOGMAN4LIFE "I work for Topdot because I'm a crook."

    The only thing you did not talk about was how Topdot quotes you a rate without telling you the true cost of the loan.

    This is an example of how CROOKS think!

    Topdot is a SCAM and a RIPOFF!

    Just read how Topdot employees feel about the general public, here are some examples:

    1. Clients who "knew better"-
    2. Too many people looking for the easy out
    3. Start taking responsibility for your own mistakes.
    4. Too stupid for your own good and you can’t help yourself
    5. The majority of American consumers are border line mentally ###ed
    6. We've raised a generation of mindless ###s who can't think or do things for themselves

    See for yourself!

    Topdot is a SCAM and a RIPOFF!

    Mike P. "I work for Topdot because I'm a crook."

    APR means the cost of financing (how much a borrower pays to get the loan.)

    The higher the APR the more Topdot charges you!

    The Truth in Lending!

    Topdot is a SCAM and a RIPOFF!

    You remind me of Richard Nixon, “I am not a CROOK!”

    Topdot is a SCAM and a RIPOFF!

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  • To
    Topdot Sucks Apr 10, 2009

    Mike P.

    Not for nothing, I'm neutral on the matter, but to the guy who said he was "dismissed" aka fired for not being able to cut it. You're talking about reputable banks like Wells Fargo, etc...yea reputable banks who buy the paper that Topdot sells

    I'm so sick of idiots like you, just go get hit by a car...and yes "THAT'S NOT VERY NICE!!!".

    I could write you a GFE in crayon and I don't even do mortgages,

    ...Topdot is a vessel for which you get your loan at wholesale rates as opposed to retail rates.

    Mike P. "I work for Topdot because I am a Crook!"

    Do not do business with them; they are a SCAM and a RIPOFF!

    Topdot is a SCAM and a RIPOFF!

    Mike P. "Topdot Sucks!"

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  • To
    Topdot Sucks Apr 10, 2009

    Mike P. "I don't even do mortgages."

    Another thing, BLS Funding was a broker that morphed into a wholesale bank with major investors, basically every bank you see on T.V. - they were never a sub-prime LENDER.

    Mike P. "I work for Topdot because I am a CROOK and a LIER!"

    0 Votes
  • Dr
    Dr. Shapiro Apr 14, 2009

    i am currently living in a home that is 95% owned by the bank, which is 95 % Loan to Value. Topdot had me do an appraisal and it came in low and they still managed to help me. I called the FHA hotline and now i have a 4.5% 30 yr fixed loan. i am very impressed with the service. the government fees associated with the loan were alot but they were the same everywhere. topdot charged me a point and an underwriting fee, thats it. they deserved more. closed me in 6 days and they sent me a cake in the mail to thank me for there business. you know what i did...i sent the division manager who helped me in the florida branch tickets to the panthers game. He was a very great rep to deal with. i believe in this company. put it this way people out of the 44 million people who voted this election only 7 million will get help. I was one of the lucky guys i guess. hope this helps some people. i shopped like an animal and at the end of the day topdot really came through for me. thank you to Topdot and their Florida location. you really helped me.

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  • Ma
    Mat Broder Apr 15, 2009

    topdot did my loan and i am happy. the man there named Omar helped me to structure a loan that i could not refuse. i paid of ALL of my bills and lowered my payment by 600 bux. lol i love these guys they are the real deal no issues at all

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  • Jo
    John Mathews Apr 15, 2009

    biggest scam mortgage company on the globe.
    used to be called bls funding but i guess with all there lawsuits
    they had to change name.

    Their commercials say "FHA HOTLINE"!!! WHAT A JOKE.

    A friend of mine closed a loan with them, there closing fees were 15, 000 higher then good faith estimate!! He recinded the loan.

    ONE BIG SCAM.
    STAY AWAY!!!

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  • Jo
    John Mathews Apr 15, 2009

    top dot is the biggest scam mortgage company in the usa

    STAY AWAY OR YOU WILL LOSE YOUR HOUSE

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  • Br
    brh777 Apr 16, 2009

    Complaint Issue Last 12 Months Last 12..36 Months Total
    Contract Disputes 1 0 1
    Selling Practices 2 0 2
    Service Issues 1 0 1
    TOTAL 4 0 4

    Dear Mr. Fokrap,

    I also just looked on the BBB and found that there were two complaints in the last 12 months involving selling practices, as you can see. And this is just what was reported/gathered, i.e. probably not accurate to how many complaints actually exist.

    I agree with all the naysayers, avoid companies whose employees feel it is necessary to defend their practices. No respectable company would allow or need their employees to defend their reputation on a public site.

    Good day, Mr. Fokrap

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  • Co
    Cookie Apr 18, 2009

    Lew the Realtor - Thank you for your comment. I too am a Realtor. I've never worked with or heard of this company until recently when a buyer brought a preapproval from them. I'm already having issues with them. They are not licensed in my state and do not know our area or what our county FHA limits are. Don't know how this is going to work out. Wish me luck!

    William Harrison - In many states, Realtors are not allowed to accept referrals from other service providers (my state included). I work with several different lenders who I believe are honest and integrity driven (like myself). We have a common goal, to satisfy the customer. Congratulations on having a great experience with Topdot. Not all Realtors are the same and I'm sorry if you've had a negative experience with one. If you're ever looking to purchase a home is the Poconos, contact me. I'll show you what honesty is all about.

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  • Bs
    bsedia Apr 26, 2009

    After checking out refinancing on the internet I was contacted by TopDot. The SALESman had all the answers and promised me a GFE but assured me that I didn't really need it because he would take care of me like family! Well that's not any family I want to be a part of. I gave him the benefit of the doubt and after a week and a half of promises but no GFE I told him to forget it. He called me back and promised again to send it and started with the promises and assurances again (boy did he talk fast!). A few days later and still no GFE I emailed him to not contact me again and to make sure that my information was deleted from all their files.

    0 Votes

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