Consumer complaint received 2018-04-28
Company: ADVISORS MORTGAGE GROUP, LLC
State: NJ
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
XXXX XXXX was highly deceptive with his practices in securing a mortgage for our family. Since XX/XX/XXXX I kept asking if he needed more information related to my business account and continually kept telling me that everything was fine. On XX/XX/XXXX I received from advisors mortgage a pre qualified letter with a loan amount of {$630000.00} with a {$32000.00} down payment. After speaking with XXXX over about increasing the loan and getting the secured paperwork for his office I spent {$330.00} to properly pull all the relevant paperwork necessary on the property we were securing a loan for. I had to tell him to do it. That pre approval letter was completely worthless. Had a made an offer and gone to a closing it would have never closed. 

That suggestion came from a knowledgable third party who immediately questioned XXXX 's ethics and knowledge along with the actions of Mortgage Advisors. He explained to me that they should have already done this and that they should be looking closely at my business which I own as part of the loan. Since I'm a XXXX XXXX XXXX individual the lending institutions look at your income and debt ratio 's differently in determining the total loan. He believed the pre-qualification letter was inaccurate and that we would never be able to close. XXXX was clueless, unprofessional and should not be working with anyone trying to secure a mortgage. Mortgage advisors stance on it and lack of any training or attention to details needed in securing an actual closing loan is scary at best. 

His negligence cost us the opportunity to at very least secure a rental unit that building putting our family at risk since our lease is ending soon. XXXX knew all along that timing was a major factor in getting this done right. The reason I sought him out in the first place was through trusted source and I needed a professional. XXXX was continually making excuses as to giving me the proper information in a timely manner. He constantly pushed dates he said all along he would either have things done by or conference/phone calls. 

I finally questioned what he had done in completely destroying any reasonable loan on XX/XX/XXXX. He told me after I continued to find out what the status of the loan amount was so I could put in proper offers told me he had a meeting at XXXX at a coffee shop after being 4 days late and another half hour late for our conference call. His associate from Mortgage Advisors XXXX ( No last name given ) essentially told me I have no viable loan finally after continued questioning. XXXX said they wanted a years worth of business bank statement, my name de-authorized from several credit cards in my wife 's name and my wife off the loan. I provided to them immediately the bank statements. In attempting to get answers about the credit cards they never followed and ignored 3 emails on XX/XX/XXXX. This happens all on the day that XXXX says we are going to be ready to go and it looks great all along. In questioning him about why he didn't get this information together prior his response was to say lets move forward and he should have it in a few days. I explained to him again that I'm out of time and need to have concrete dates and answers from him and XXXX. They just said I was high priority for the office. It was obvious to me I had made a huge mistake believing his office and him. It was one lie after another and the office goes along with the big show they put on all the while it's a waste of time. 

They put my family in huge bind as a result of their negligence. We all knew it was not an easy loan and if they had done their jobs properly this would never have happened. If I had known this weeks ago I would just taken the rental which are very tough to come by in this building and dealt with the purchase in a year. I offered a very substantial co-signer which he said we don't need over and over again. 

He then sent me a text message saying " I would go to another mortgage broker ASAP '' because of me questioning his negligence. He clearly was uncomfortable with me questioning him and XXXX about their negligence in handling the loan correctly. XXXX was well aware of my time line, was already over a week late and had full access to any documents he needed which I repeatedly offered. It was only until XX/XX/XXXX that the truth came out. His and his offices way of dealing with the issue was to ignore all requests for additional actions. They also refused to release my own credit report to me citing " privacy laws ''. I'm not sure if that's true or just another way to make my mortgage application issues more difficult in spiteful manner. I've had to have my credit pulled again as result of his and their offices actions with an real professional. 

XXXX XXXX who I spoke to at their offices about the incident then backed by telling me after all the time and money spent that we should mutually part ways and that his office never received documents. That is a lie. I continually was pushing XXXX to do his job and explained on XX/XX/XXXX and would quickly get him anything he asked for which I did when he asked of it. He is dangerous to anyone trying to secure their loan. XXXX 's way of dealing with what he and said was " The highest priority '' was to go home early on XX/XX/XXXX and head out on vacation.This after he said he was calling me back right away. He never called me back and ignored several emails. He emailed me saying he went on vacation. That certainly isn't the actions of a reputable manager who says he's working to help fix the issues his office and XXXX XXXX said. That's someone who knew they failed completely to follow what are the proper steps in getting a mortgage and then cut me loose when they were questioned why. 

What they did instead of informing me of the issues, keeping me in the loop and asking for the proper documents needed to secure the loan is string me along and then drop my family the minute I complained. They simply didn't want to hear they had completely mismanaged and wasted a month and half 's worth of time I didn't have. They also put my wife and XXXX small children at risk being that our lease ends in XXXX and XXXX XXXX knew it on day one that spoke to him. 

Something needs to be done to restrict, fine and/or bar them from doing this to other families. Who knows they may already done so and I have no idea what other improper actions they may or may not have taken. It's clear thought that the general attitude of this company is to have no compassion, care or professionalism in what they do. I've never written a complaint like this in my life nor am I seeking any money.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with monetary relief