Academy Mortgage Corporation

Academy understands the frustration for the length of time that passed to close this loanAcademy will attempt to address several of Mrs***’s concerns directlyMrs***’s desire to be on the loan is understandableThe reason the LO proceeded without her as a borrower was either
miscommunicated or misunderstood. After making an initial joint credit inquiry and gathering some preliminary information the LO recognized that Mrs***, as a student with no income and additional liabilities, would increase the Debt-to-Income (DTI) ratio above the USDA program limitsThe LO then processed the loan without Mrs*** as a borrower, which required another credit inquiry with Mr*** as the sole borrower. The LO also requested an appraisal performed under the USDA program.Sometime after the successful appraisal, in a conversation with the LO, Mrs*** disclosed that her husband received expense reimbursement checks from his employer outside his paychecks for expenses incurred while away from homeThis fact had not previously been disclosed and the LO immediately requested more detailsAfter generating an estimate of the additional income, Mr***’s income was elevated above USDA standards for a family of twoThis required the LO to seek the FHA program to qualify the borrowerWhile it was true that the LO could have attempted to process the loan through the FHA program with Mrs*** as a borrower, the LO processed the loan without her as a borrower because the only effect Mrs***’s situation could have had on the loan qualification would have been to increase the joint liability of the borrowers. Additionally, to attempt to gather all required documents with Mrs*** as a borrower would have caused additional delay in the processThe LO already felt a heightened sense of urgency because of the required change in programsProcessing the loan under FHA program guidelines required a new loan file be created, a new appraisal to be performed under FHA program guidelines, and another credit inquiry for Mr***. From initiation of the FHA loan to closing, it took Academy daysFunding occurred on October 30, Mrs*** requested that Academy absorb feesMrs*** stated that she incurred a $cancellation fee for the insurance binder when the program was changedThe LO was aware that there could be a cancellation fee but was never provided evidence that it was incurredThe LO was prepared to ensure that Academy provided an offsetting lender credit at closing if the fee was incurred and documented, which it was notMrs*** requested that Academy include her on the titled document for the propertyThe title company has prepared a document that would accomplish that request, and the LO has communicated with Mrs*** that the document is ready to sign and that Academy will pay for the recording of the document. The Branch Manager has also attempted to communicate with Mrs***

Ms***, Academy Mortgage Corporation (“Academy”) received the subject complaint from the Revdex.com Servicing Utah (“Revdex.com”) on behalf of Ms*** *** *** *** (“***”) on Monday, March 13, 2017, disputing a credit pull. We appreciate the Revdex.com providing Academy with this
complaint and allowing time to research this issue. We provide our research and response as follows***’s spouse, Mr***, gave Academy’s loan officer ***’s information, including her driver’s license, and authorized Academy to pull credit. Academy’s loan officer reasonably believed he had authorization to pull both Mr***’s and ***’s credit reports. It was later discovered that *** and her spouse are currently separated and in the process of divorce. *** indicated that she will not be involved in the transaction. Therefore, Mr*** should not have provided ***’s information or given authorization to pull her credit. Upon receipt of this complaint, we contacted ***, apologized for pulling her credit without her authorization, and offered to remove the credit pull from her report. We are currently working with our credit vendor to remove the inquiries. Should you require further information, please contact me directly at (801) 233-or by e-mail at mike.h***@academymortgage.com.Mike H***General Counsel

Complaint: ***
I am rejecting this response because:The company is not taking responsibility for the business lack of ethicsIt's message is not only but contradictingI did not call Academy Mortgage, my realtor called me and said we will need to apply with their lender since my loan officer was not availableShe mentioned that Academy Mortgage will call me to get some basic informationWithin five minutes, I received a call from Layne D*** and I explained I was at work and only had a couple of minutesHe said he was just going to verify some basic information and have Chris M*** call meHe never said he was pulling our credit or asked for permissionHe never spoke to my husband *** *** for permission eitherI then received a message from my realtor stating American Mortgage will not give a pre-qualification letter if I did not agree to do business with them.This was the first time I reached out to the individual Chris M*** and advised him I did not authorized to have my credit pulled and if it was pulled I expected a response in writing within daysI waited and it never came so I ordered my credit report and noticed the inquiries in multiple credit reporting companies, none which I authorized.I have never seen an advertisement for this company and I am concerned their biggest strategy is to work in correlation with realtors to lock individuals by following the same illegal tactics they did with usI will like for them to accept the errors, correct our credits and take corrective actions in the process to obtain permission to pull credits.
Sincerely,
*** ***

*** *** and her husband, ***, refinanced their loan with Academy Mortgage Corporation (“Academy”) with a new loan from Academy. At closing of the new loan, Academy collected upfront payments for
homeowners’ insurance premiums and property taxes to include in their escrow account. Up to that point, Academy had been collecting for escrows each month out of the Ament’s payment for the loan that was paid off. Therefore, there was an excess balance in their escrow account of $2,744.41. After receipt and processing of the payoff, a final review of their escrow account was performed on July 22, 2016, and a refund check was cut to the Aments for the amount stated and placed in the mail. The Aments received the check on August 8, 2016. Academy uses a third party sub-servicer to perform its servicing activities. The sub-servicer requires time to be able to receive and process the payoff, to complete a final escrow account review, and to issue any refunds. If Academy’s loan officer stated it would only take a week to complete this process, the loan officer was in error and misunderstood how this process works. Academy apologizes for any stress or anxiety this may have caused. Ms*** contacted Academy regarding the check. Academy notified her that the check was cut on July 22, and was sent in the mail. Ms*** again reached out on August 5, because she had not yet received the refund check. Academy promptly contacted its servicing department who again verified that the check had been cut on July 22, and they should receive it any day. Ms*** notified Academy on August 9, that they did receive the check in the mail. Ms*** then contacted Academy again on August 11, 2016. She said she deposited the check in her account at Chase Bank and Chase put a hold on the funds. Academy reached out to Chase to see if there was anything it could do to assist. Academy verified that there was no writing on the check or anything else to make it suspicious. Chase was unable to discuss any other specifics regarding the account because of customer privacy. Academy maintains sufficient funds in their account and is certain there is nothing wrong with the check. Academy is confident the issue with the hold arises with Chase and not with Academy. Ms*** will have to work with Chase to resolve these issues. Academy responded promptly whenever the Aments reached out with their concerns and assisted them through the process. Academy correctly determined the Aments were due a refund and delivered them a good check for $2,744.41. Academy has stated to Ms*** that it is willing to assist as needed if there are any further issues with Chase that it can help resolve. However, Academy has determined that the current issues are with Chase and not with Academy

Academy sent the file to USDA on 4-The past files that went to USDA were back to us on hoursUnfortunately they got busy and the day we submitted they went from a quick turn time to an day turn timeAdditional to this the seller left on a cruise and is returning this coming Monday which
further delayed our loanThe buyer is signing today and we are planning to sign the seller Monday and fund Monday
During the week of 3/21-3/*** called Academy almost daily for updates*** had forwarded to us previous emails from USDA showing a day turnaround time for processingOn March 25th Academy received an email from *** showing USDA indicating was processing file on March 24th that were received on March 22ndWe told *** we hoped to submit the loan to USDA during that week and hopefully will get USDA approval on Monday the 28th so we can fund on Wednesday
Academy requested an update on the status with USDA and was surprised to find out on Friday the 25th that the *** file was 33rd in line and was not going to be processed soonAcademy also found out that the sellers were going on a cruise the first and would not be able to sign documents until they get back on the 11th
The last time Academy spoke with *** Academy told him we were still waiting on USDA approval and there was nothing we could do to expedite the approvalOn April 5th Academy received an email from *** with final approval on the loan
The loan is scheduled to have seller docs signed on April 11th and close and fund same day

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution is satisfactory to me
I also want to thank Mike for taking care of my problems in a prompt and courteous manner. I have also sent an updated review to yelp.comThank you again
Sincerely,
*** ***

Ms. [redacted], Academy Mortgage Corporation (“Academy”) received the subject complaint from the Revdex.com Servicing Utah (“Revdex.com”) on behalf of Ms. Antoaneta D. [redacted] (“Ms. [redacted]”) on September 2, 2017, regarding an escrow shortage.  We appreciate the Revdex.com providing Academy with this...

complaint and allowing time to research this issue.  We provide our research and response as follows: Academy originated Ms. [redacted]’s loan on August 20, 2016.  On September 2, 2016, her loan was transferred to Academy’s Servicing Center; Cenlar FSB (“Cenlar”), where it is currently being serviced.  Prior to the transfer, Academy sent the required RESPA notice of transfer to her mailing address that contained the updated payment related information for Cenlar.  (See attached transfer notice).  Although the transfer notice references Academy, it is actually Cenlar.  As our sub-servicer, Cenlar services loans in Academy’s name, but the phone number and address are for Cenlar. Ms. [redacted] states that she filed a complaint on August 21, 2017 and was expecting a phone call from a supervisor.  However, we do not have any record of receiving her complaint here at Academy.  Furthermore, there is no Juanita A[redacted] that works at Academy.  We can only assume Ms. [redacted] reached out to Cenlar who did not notify us of her concerns.  We apologize if they have been unresponsive.  For this reason we are grateful you have made us aware of Ms. [redacted]’s concerns and provided us the opportunity to respond.  After receiving the complaint from you, our Loan Servicing Department reached out to Ms. [redacted] on Thursday, September 7, 2017 to attempt to resolve her concerns regarding her escrow account.  We were unable to reach her, so we tried again on Friday, September 8, 2017.  We were told to try back in 30 minutes, but when we called back, we had to leave a voicemail.  We tried to reach Ms. [redacted] again on Monday, September 11, 2017, but our attempt was yet again futile.     Regarding Ms. [redacted]’s escrow account, we believe the escrow shortage is accurate.  Our records indicate that two disbursements for hazard insurance from her escrow account in the previous year.  The first disbursement was on December 20, 2016 for $948.00, which was more than the anticipated $834.96.  Another disbursement was made for hazard insurance on May 10, 2017 for $824.36.  However, we have only received an escrow reimbursement for $660.00, which we received on July 27, 2017, resulting in an escrow shortage.  We have made multiple attempts to reach Ms. [redacted] to explain the escrow shortage, but our calls have been ineffective.  Therefore, if Ms. [redacted] believes this is inaccurate or desires to obtain a more detailed explanation regarding the shortage, she may reach our Loan Servicing Department directly at (844) 568-4718 or by email at [email protected].  We look forward to her correspondence and assisting her with her concerns.  Should you require further information, please contact me directly at (801) 233-3764 or by e-mail at mike.h[redacted]@academymortgage.com. Very truly yours,   Mike H[redacted]General Counsel

Ms. [redacted] called Academy on a Thursday afternoon asking for a prequalification letter. She indicated her lender at a credit union was out of town and she did not plan on using Academy for her loan, but she needed to prequalification letter to make an offer on a house. Academy loan office Chris...

M[redacted] indicated he did not want to provide her with a prequalification letter if she had no intention of using Academy's services.
Academy has confirmed that Ms. [redacted]'s credit was only pulled one time, not twice. Ms. [redacted] provided Academy with her information and requested Academy to pull her credit. Due to Federal laws, Academy cannot remove the single credit pull from the credit bureaus.
Academy will remove Ms. [redacted] from its mailing lists and will no longer contact her.

Ms. [redacted], The disposition of a loan file is determined by Federal statute, and Academy takes compliance seriously.  Academy is required to disposition a loan based on the information provided in the loan file, which does not always coincide with what the consumer believes or says should be the...

final disposition.  Mr. [redacted]’s loan file was reviewed by two underwriters, as is our standard procedure.  Both underwriters determined, based on the information in the loan file and per underwriting conditions, that Mr. [redacted] did not have sufficient funds to satisfy the program guidelines. Therefore, our ECOA Department provided a Statement of Credit Denial to Mr. [redacted] based upon the underwriters’ determination. Please note that we do not notify the credit bureaus of the credit denial, nor do we send the Statement of Credit Denial to anyone else but the consumer.  There is no adverse effect to Mr. [redacted].  We are unable and unwilling to issue a letter to Mr. [redacted] that states an alternate disposition of his file.  It is our position that we appropriately complied with Federal statute, which compels us in this matter.  Should you require further information, please contact me directly at (801) 233-3764 or at [redacted].Mike H[redacted]General Counsel   Tell us why here...

Ms. [redacted] quit her full time job in the middle of looking for a home and went to work for a temporary employment agency. She then typed up her own Verification of Employment Letter stating she was full time (while still at the temporary company) and had someone sign her employers signature on it....

This was the second loan. The first loan was a condo that was not FHA approved. Academy also got an appraisal payment waiver on the appraisal, so Ms. [redacted] did not have to pay $300.00 for the appraisal.
Academy did all it could to qualify Ms. [redacted]. Once it learned of the improper verification of employment, Academy decided to no longer work with Ms. [redacted].

We have reviewed the case of Mr [redacted] While it is distressing that he feels we were dishonest our review of the case has determined that his claims are not supported. The first claim of "questionable rates" has no merit since are price are published online through many varies...

outlets including [redacted] and [redacted] our prices are set one year ahead of time but can change depending on occupancy.the second claim of their being bed bugs in the room. we at sky riders motels pride ourselves on our housekeeping and ensure all room are cleaned and inspected every time  a guest checks-out also we have commercial washers and dryers to ensure all guest linens are sanitized. we also have monthly pest control sprayings to prevent insects and bugs from entering the rooms the most recent spraying occurred on 08/10/2015 and the report states that no bugs were found on the property. the final claim made by MR [redacted] claiming he was given inacuarte receipts also has no base. we use a check inn system to track and record all of the guest payments and we provide all the receipts covering the duration of their stay.we here at sky riders motel pride ourselves in every aspect to ensure the guest has comfortable stay and our online reviews from many guest around the world reflects that we let our work speak for itself and we're truly disappointed it has come to this

Ms. [redacted],
I understand the very first property you chose had an issue because the appraisal came in $5,000 lower than the purchase price. The seller decided that he did not want to drop the price therefore you would have to come in with the additional funds. You weren’t willing to do that...

(understandably so) so you chose to back out of the contract. The second property that you chose to submit an offer became an issue after we found out the property was under litigation and Academy is not able to lend on it per conventional guidelines once our condo approval department reviewed it. Both situations were due to either property issues or the seller not dropping purchase price. Regarding the alleged promises to refund you for the appraisal fees should your home not close, Ms. M[redacted] and Becker deny every making this promise to you. I apologize Academy was not able to get you into a home due to these unfortunate and unforeseen circumstances.
Mike H[redacted]
General Counsel
Academy Mortgage Corporation

Academy Mortgage received a complaint from Mr. [redacted] through internal channels in September 2016.  This current complaint is a restatement of the complaint from 2016.  Upon receipt of the original complaint in 2016, Academy made every attempt with the information already received to...

close the loan for Mr. [redacted].  Unfortunately, Academy was unable to approve the loan.  At that time Academy responded to Mr. [redacted] and apologized.  Additionally, Academy expedited the process to generate a Statement of Credit Denial at Mr. [redacted]'s request.  Given that Mr. [redacted]'s current complaint is a restatement of the prior complaint to which Academy already responded, Academy believes its prior response is adequate in response to this current complaint.

I spoke with Ms. [redacted] today. Academy will be providing her a refund of $800.00.

Our local branch received a complaint letter from [redacted], which is the same as this complaint #[redacted].  We responded to Ms. [redacted] with the enclosed letter, which was signed by our Regional Manager.  Our position and response is the same as stated therein.  Please...

accept the enclosed letter as our response to this complaint.

It is Academy's understanding that the consumer rejected our initial response.  Academy stands by its prior response submitted to the Revdex.com.

Complaint: [redacted]
I am rejecting this response because:The last response received from Academy Mortgage was merely 'we stand by our response'.  This is unacceptable given the number of errors caused by the organization during our loan process and the financial burden placed on our family to resolve their mistakes.  As I stated and will repeat, Academy Mortgage knew of the property in Ohio and are now claiming ignorance.  They delayed a title search and then the title search company did not execute on the request until we phoned the County Auditor to confirm no one had done anything from a search standpoint on our property.  Also, Academy's back office operations were so poorly organized we had to send and re-send documents multiple times, which further delayed our closing and processing within the organization.  In addition, the operations team did not use publiclyavailable resources to help minimize time in the already delayed processing of our loan.  Finally on the actual closing day Academy Mortgage sent the money to the WRONG place.  This had to be pushed, escalated and resolved by us.  Academy Mortgage was refusing to correct their issue and re-issue the money to the right place so we could actually close.  Again, a mistake they are now claiming ignorance which can also be proven but this time through the Federal Reserve. This caused extreme stress by everyone involved.   Just as there are witnesses to prove my discussion with the mortgage broker that the property was in my name and could be used to offset liabilities, I also have many witnesses to testify that the entire process (including funding day) with Academy was simply horrific and is not like anything they have ever seen before.  The realtors, our attorney, the title company ,etc.   Here is my prior response which details the facts once again that Academy Mortgage is refusing to accept ownership for the financial burden they cause to my family.  1) The mortgage company knew I owned property in Ohio.  They failed to begin a title search at the time of inquiry.  Had this started as soon as this was communicated and identified the loan would have been on time. 2) The loan was not delayed because the of transcripts alone.  The IRS transcripts came in well before the confirmation of the Ohio property.  The transcripts came in on May 27th (again had they been requested sooner since this process started in April, then this would not have been an issue).   In addition, your team did not communicate (up front) the added 3 business required by your organization to just sit on information. Again, misleading the actual close date. 3) The title search company utilized by Academy Mortgage did not act on the search request until multiple days late, even with escalation.  This was confirmed by a call to the [redacted].  Had the title search company, used by Academy, begun their process sooner as well we would have not been as delayed.4) The mortgage broker at Academy Mortgage knew the property was in my name.  I know because I directly communicated this to him during a discussion where I have multiple witnesses upon the application process for the loan at [redacted]  I specifically said ' I own the property and since the new mortgage is going in my name only, we may want to use the land as a positive to help offset debt, etc." This was a DIRECT discussion with Jerry overheard by 2 adult individuals who will explain this to a judge. 5) The loan officer Sonia only asked me about the TAXES, she said nothing about needing to run a title search.  I said 'if you need the taxes as part of underwriting, we can get those' however YOU should have access to this information.  It was again communicated to Sonia at the time that the land was in my name.  Now 2 times it had been communicated to Academy Mortgage staff. This was not avoided by me this was COMMUNICATED on multiple occasions.  I explained to Sonia that if the underwriter needed the TAXES we could get those so let's see if they needed the TAXES.  This was  a discussion about the TAXES and not whether or not the property was in my name.  6) To top it all off - On closing date your organization wired the funds TO THE WRONG PLACE!!!! That in of itself is negligent behavior!  We had to help unwind what happened within your horrible back office 'operations'. 7) The team continually lost our records/information sent and we had to resend multiple times further delaying the process.  Not to mention there were items requested from the team that your organization had direct access to (again delaying the time to complete the mortgage) - example TAXES.  Your team made countless mistakes in the process and THAT is what delayed this process.  This process started in April, plenty of time had the team done their job correctly - specifically, ordering transcripts sooner (knowing the issues and delays) and executing a title search ASAP (knowing again in another state takes a longer amount of time).  I will be seeking legal representation because it is clear your facts are incorrect and we are going no where. I am sure the legal system would be interested to understand the truth behind this case and how we have been treated, especially in today's environment and the spotlight on financial organizations.  Sincerely,[redacted] (a concerned citizen for other individuals who may be financially harmed by the negligence of Academy Mortgage)

Complaint: [redacted]
I am rejecting this response because: I am corresponding with Branch Manager, and await his responses. He said he will be looking it coresspondences from LO. 
Sincerely,
[redacted]

Academy Mortgage stands by its prior response sent to the Revdex.com.

Ms. [redacted], Academy Mortgage Corporation (“Academy”) received the subject complaint from the Revdex.com Servicing Utah (“Revdex.com”) on behalf of Ms. [redacted]. [redacted] (“Ms. [redacted]”) on Monday, March 3, 2017, disputing the accuracy of the loan history that was reported to her credit bureaus in...

“September-2016”.  We appreciate the Revdex.com providing Academy with this complaint and allowing time to research this issue.  We provide our research and response as follows.   Academy originated Ms. [redacted]’s loan on April 21, 2015 and began servicing on April 29, 2015.  May 5, 2015, her loan was transferred to Academy’s Servicing Center; Cenlar FSB (“Cenlar”), where it is currently being serviced.  Prior to the transfer, Academy sent the required RESPA notice of transfer to her mailing address that contained the updated payment related information for Cenlar, including their payment address.  (See attached notice and monthly statement).  Additionally, monthly statements have been sent to Ms. [redacted]’s mailing address containing the monthly payment amount, next due date, and payment address.  Furthermore, Ms. [redacted] inquired about the payment address on July 2, 2015, during a phone call with Academy. Ms. [redacted] consistently made her mortgage payments to Cenlar from the date of the first payment due, June 1, 2015 through the payment due date of July 1, 2016. Each of these payments was sent by Ms. [redacted] and received by Cenlar.  The actual date the payment was received and the date to which the payment was applied to Ms. [redacted]’s account is listed below: Payments Received Date Date Payment was Applied June 8, 2015 June 1, 2015 July 6, 2015 July 1, 2015 August 6, 2015 August 1, 2015 September 4, 2015 September 1, 2015 October 15, 2015 October 1, 2015 November 13, 2015 November 1, 2015 December 7, 2015 December 1, 2015 January 14, 2016 January 1, 2016 February 9, 2016 February 1, 2016 March 9, 2016 March 1, 2016 April 12, 2016 April 1, 2016 May 9, 2016 May 1, 2016 June 17, 2016 June 1, 2016 July 8, 2016 July 1, 2016   Based on Ms. [redacted]’s successful 14 month payment history from origination, prior to the month in question, she had demonstrated the necessary knowledge to make her payments to the proper address. On September 30, 2016, Cenlar received a payment that was applied to the August 1, 2016 due date.  Academy then received a payment in the amount of $1,550.00 at the corporate payment address from Ms. [redacted] on October 4, 2016.  This payment was immediately forwarded to Cenlar the next day, October 5, 2016.  This payment was then applied to the next due date of September 1, 2016 by Cenlar.  However the payment was subsequently reversed as it was returned from her banking institution due to a stop payment. Also on October, 5, 2016, Ms. [redacted] called Academy to inquire about a missing payment.  She was advised at that time that no payment had been received.  Academy facilitated a conference call to Cenlar, and Ms. [redacted] made a payment by phone using her checking account.  Cenlar waived the assessed late fee in exchange for the payment by phone.  This payment was posted to the September 1, 2016 due date.  Ms. [redacted] subsequently resumed making her payments directly to Cenlar through 2016 as listed below: Payments Received Date Date Payment was Applied October 21, 2016 October 1, 2016 November 8, 2016 November 1, 2016 December 12, 2016 December 1, 2016   Cenlar received a payment on July 8, 2016, which was applied to Ms. [redacted]’s loan for the July–2016 due date, but then she did not make the next payment until September 30, 2016, which was applied to the next due date of August--2016.  As no payment was received in August–2016 for the August 1, 2016 due date, Cenlar reported the loan as 30 days delinquent to the bureaus in September–2016 for the August–2016 period.  Furthermore, since the payment for the September 1, 2016 due date was not received until October 5, 2016, Cenlar again reported the loan as 30 days delinquent to the bureaus in October–2016 for the September–2016 period. Due to the delinquency for both months mentioned above, the reports furnished in September-2016 and October-2016 are considered proper and comprise the actual payment history including the past due dates.  As such we are unable to report otherwise to Ms. [redacted]’s bureaus pursuant to the Fair Credit Reporting Act (FCRA). Should you require further information, please contact me directly at (801) 233-3764, or by e-mail at mike.h[redacted]@academymortgage.com.Mike H[redacted]General Counsel