Lenox Financial Mortgage Corp

February 26, 2014
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[redacted] L[redacted]
RE: Revdex.com Case#[redacted]
Dear Mr[redacted],
Please let this letter serve as Lenox
Financial Mortgage Corporation's ("Lenox") response to your complaint with the
Revdex.com posted February 26, 2014. We have reviewed your complaint carefully and
investigated your concerns
Lenox received notification from the RevDex.com alleging that we failed to deliver as promised by our radio advertising
for a no cost loan. Please note the
verbiage from our radio advertisement – "CHOOSING SUCH A LOAN COULD AFFECT YOUR
INTEREST RATE AND YOU WILL BE RESPONSIBLE FOR ANY FOR ANY EXISTING LENDER
PAYOFF FEES" In addition, our radio advertising states that not all loans
apply
After reviewing your loan file, we determine
that the interest rate you selected on your loan was a fixed rate 3.75% rate
with a year loan term. Your loan was
locked on 11/08/2013. The Lender Origination
Credit for the rate and term you selected was $397.35, which was applied
towards your overall closing costs. Due
to the rate being so low, there was not enough lender origination credits to
cover all your closing costs
I trust that this response properly
addresses your concerns. Should you have
any additional questions or further concerns, please do not hesitate to contact
Lenox.
Thank you,
[redacted]
VP-Compliance
(949) 681-

This letter is in response to the Complaint ID #[redacted] submitted by Ms. [redacted]...

[redacted], Ms. [redacted] stated in her complaint that Lenox Financial Mortgage Corporation (“Lenox”) had reported her to the credit bureaus as late on her mortgage payment in August 2014 when in fact she had made her mortgage payment on time.
The Lenox Servicing Department has researched and reviewed Ms. [redacted]'s complaint and determined that there was an inadvertent coding error which resulted in Ms. [redacted]’s account reflecting a mortgage late instead of the code which indicated that her mortgage loan had been transferred to a new servicer. Lenox has reached out to the credit bureaus to correct the coding error in Ms. [redacted]’s Credit Report File in order to remove the mortgage late and reflect the transfer of servicing instead.
Lenox has reached out to Ms. [redacted] and sent her the attached letter apologizing for the error, explaining the source of the discrepancy and the steps Lenox has taken to resolve the error.
We hope this meets with your satisfaction. Should you have any questions or need additional information you can contact me at the number or email below.
Sincerely, 
[redacted]
SVP Compliance & General Counsel
Email: [redacted]
Telephone: [redacted]

Ms [redacted]:
This letter is in response to the Complaint ID #[redacted] submitted by Mr. [redacted]. Mr. [redacted] stated in his complaint that due to his loan with Lenox being sold
to another service and, even though he made his payment on time as instructed by
Lenox, that his credit report...

reflected a late payment on his mortgage.
The Lenox Servicing Manager has corresponded with Mr. [redacted] and reviewed his
complaint. Lenox has determined that there was a report coding error in the system
(system glitch) which inadvertently caused the 08/01/2014 mortgage payment to be
reported as delinquent instead of reported as "transferred to a new servicer." The
system coding error has been rectified. Additionally, Lenox has electronically responded
to the credit disputes through e-Oscar and contacted the bureaus to revise the reporting
error. Lenox has sent a written apology and explanation to Mr. [redacted] by email and 
has spoken with him by telephone.
We hope this meets with your satisfaction. Should you have any questions or need 
additional information you can contact me at the number or email below.
Sincerely,

This letter is in response to the Complaint ID #[redacted] submitted by Ms. [redacted]. Ms. [redacted] stated in her complaint that she had been contacted by two Lenox Financial Mortgage Corporation (“Lenox”) loan officers on several occasions and has requested that she not be contacted by Lenox. Ms....

[redacted] had sought Lenox services in the past, therefore Lenox was reaching out to determine if she was interested in further services. At her request and effective immediately, Ms. [redacted] has been placed on our company Do Not Call List and will not be contacted by Lenox employees. We request that the Revdex.com please convey Lenox's apology for any inconvenience or miscommunication during her conversations with any Lenox employees.We hope this meets with your satisfaction. Should you have any questions or need additional information you can contact me at the number or email below.Sincerely,[redacted]SVP Compliance & General Counsel Email: [redacted] Telephone: [redacted]

This letter is in response to the Complaint ID #[redacted] submitted by Mr. [redacted]...

[redacted]. Mr. [redacted] stated in his complaint that he had provided a Lenox Financial Mortgage Corporation (“Lenox”) loan officer with personal information via email and that the loan officer was no longer responding to Mr. [redacted]’s requests. Additionally, Mr. [redacted] requests that he not be contacted by Lenox and that his personal information be deleted from all of the Lenox databases.
Our records indicate that Mr. [redacted] had applied for a mortgage refinance with Lenox in May of 2015 and then decided that there was not sufficient benefit for him to refinance and he withdrew his application. Since Mr. [redacted] had sought Lenox services in the past and the interest rates had improved, therefore Lenox was reaching out to determine if his situation had changed and if he may now benefit from a refinance of his mortgage. At his request and effective immediately, Mr. [redacted] has been placed on our company Do Not Contact List and will not be contacted by Lenox employees. We request that the Revdex.com please convey Lenox’s apology for any inconvenience or miscommunication during his conversations with any Lenox employees.
We hope this meets with your satisfaction. Should you have any questions or need additional information you can contact me at the number or email below.
Sincerely,
[redacted], SVP Compliance & General Counsel
Email: [redacted]
Telephone: [redacted]

Dear Ms. [redacted]:This letter is in response to the Complaint ID #[redacted] submitted by Mr. [redacted]. Mr. [redacted] stated in his complaint that he had set up automatic bill pay payment with his bank to ensure that his mortgage payment would be delivered by his bank to Lenox Financial Mortgage...

Corporation (“Lenox”) by the 15" of the month. Lenox claimed that Mr. [redacted]'s mortgage payment was not received until the 19" of the month despite his bank stating that it was sent to arrive by the 15" of the month and they recorded it being mailed on the 12". When Mr. [redacted] contacted Lenox, Lenox refused to refund the late payment because Lenox’s records indicated the mortgage payment was not received until the 19" of the month which was past due. Mr. [redacted] then contacted his bank and requested to change the date of delivery of the mortgage payment to the 9" of the month which worked for five months but then on the sixth month Lenox indicated that it had not received Mr. [redacted]’s mortgage payment until the 19" of the month.Upon receipt of Mr. [redacted]’s complaint on November 25, 2015, the Lenox Servicing Manager researched Mr. [redacted]’s complaint in order to prepare a response and communicate with Mr. [redacted] to address his complaint. The following is a chronology of the events that transpired.First Payment 05/01/15:1) Mr. [redacted]’s loan funded on 03/09/15 with the payment due date set at the first day of each month.2) The first payment was due on 05/01/15 with a 15 day grace period.3) A late fee will be assessed if the payment is not received by Lenox within the 15 day graceperiod. The payment was received on 05/18/15; therefore a late fee was assessed.4) Mr. [redacted]’s 05/01/15 mortgage payment was received by Lenox on 05/19/15 via USPS mail. Borrower’s check was issued on 05/15/15.5) Lenox received a telephone call from the [redacted] Bill Pay Department on 06/01/15 regarding payment received date and payment due date. The Lenox Servicing Representative informed the bank that Mr. [redacted] would need to contact Lenox to discuss any fees and due dates and Lenox could not discuss with [redacted] due to privacy concerns.November 1, 2015 Mortgage Payment:1) Mr. [redacted]’s 11/01/15 mortgage payment was received by Lenox on 11/18/15 via USPS mail. Borrower’s check was issued on 11/09/15.2) On 11/24/15, Lenox received a telephone call from [redacted]’s Bill Pay Department regarding Mr. [redacted]’s mortgage payment received date and payment due date and requested that the late fee be waived. The Lenox Servicing Representative informed the bank that Mr. [redacted] would need to contact Lenox to discuss any fees and due dates and Lenox could not discuss with [redacted] due to privacy concerns. 3) On 12/04/15, Mr. [redacted] contacted Lenox to discuss due date, late fees assessed and bill pay. During this call, Lenox informed Mr. [redacted] that it would waive both late fees as a courtesy accommodation and discussed ACH payments as an option. Mr. [redacted] was interested in signing up for ACH payments and an ACH set up form was emailed to him for completion. Mr. [redacted] indicated he was satisfied with the resolution.We hope this meets with your satisfaction. Should you have any questions or need additional information you can contact me at the number or email below.Sincerely,[redacted] SVP Compliance & General Counsel

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.After reviewing your loan file, we determine
that the interest rate you selected on your loan was a fixed rate 3.75% rate
with a 15 year loan term.  Your loan was
locked on 11/08/2013.  The Lender Origination
Credit for the rate and term you selected was $397.35, which was applied
towards your overall closing costs.  Due
to the rate being so low, there was not enough lender origination credits to
cover all your closing costs.There is nothing stating that the rate effects the closing costs. In fact, the opposite is stated by your company agent [redacted] (quoted from our email below) when he claims if the rate falls lower throughout the process - there will still be no cost:
Hi [redacted], 
Here is the 15 yr amortization table to show $714 goes to
principle. You currently put $264 approx to principle and $160 extra to equal
$424 to principle and your payment is about $1600 month. Why not put $714 or an
extra $290 to principle for FREE at the same payment of $1600. You also shave
9.5 yrs off the loan at a savings of $97248 after 15 yrs for free. If you move
in 5 yrs you will have $290 x 60months or $17400 for free. 
Its my job to show the benefit and the math will show $290 more
to equity for no-cost. I will get you to 3.5 if rates drop as we offer a float
down for no cost too. 
Please respond back and I would be glad to finish up the
application. 
Regards, 
[redacted]

RE: Revdex.com Case #[redacted]
Dear Mr. [redacted],
We are in receipt of your message in which you indicate that the second response to your complaint by
Lenox Financial Mortgage Corporation ("Lenox") dated March 14, 2014 ("Lenox Response #2") does not
resolve your complaint. I have carefully reviewed the prior Lenox responses dated February 26, 2014
and March 14, 2014, along with the supporting documentation provided in the responses and the loan
file.
Additionally, I reviewed your complaint, responses and the email you quoted in your rebuttal. The email
quote you provided did not state the date that the email was sent, and thus, it was not clear as to when
the information was sent to you. I was able to locate the email you quoted in your rebuttal and it is
attached. The email is dated October 17, 2013 which is prior to your application being taken and clearly
states that the offer of a float down was dependent on rates going down.
As stated in the Lenox Response #2, although the email stated that the Loan Officer would try to get
your rate down to 3.5% it was contingent on rates going down. Your initial application and disclosures
(provided in Lenox Response #2) verify that you applied for a fixed rate of 3.75% which included an
estimated lender credit of $3,020.00. At that point the rate was not locked in but was floating.
Subsequently, the rate was locked on November 8, 2013 at an interest rate of 3.75%, with an expiration
date of January 7, 2014 and an origination credit of $1,087.50. You were provided with disclosures
dated November 11, 2013 which disclosed the rate lock information and the reduction in the origination
credit (provided in Lenox Response #2), which is indicative of rates increasing since the lender
origination credit was reduced.
Due to delays in providing us with the documentation required to process and close the loan, the time
on the rate lock ran out and a rate extension was required. Revised disclosures were provided which
informed you of the change, indicated the new expiration date and a further reduction in the origination
credit (provided in Lenox Response #2). After the first extension, the rate lock expired once again and
additional disclosures were provided to you along with a new expiration date and another reduction in
the origination credit (provided in Lenox Response #2).
Therefore, you were provided with four sets of disclosures (provided in Lenox Response #2) informing
you of the reduction in the origination credit. Additionally, prior to your loan closing the Loan Officer
sent you a preliminary Settlement Statement which disclosed to you the origination charges on your
loan (provided in Lenox Response #2). At any point during the loan process you were able to discuss any
questions or concerns with the Loan Officer or even cancel your loan if not satisfied. Furthermore,
under federal law, in a refinance transaction the lender is obligated to inform borrowers that they have
a three day right to cancel after the signing of the final loan documents which provides borrowers with
an additional opportunity to review their loan documents, inquire further and even instructs them how
to cancel the loan with no cost to the borrower during that timeframe. The Right to Cancel Notice was
provided in your closing loan document package.
Lenox maintains its stance that it fully disclosed any changes to your loan during the loan process as
required.
Should you have any additional questions or further concerns, please feel free to contact Lenox.
VP -Compliance/General Counsel
(949) 681-5349
cc: Revdex.com

Ms [redacted]:
This letter is in response to the Complaint ID #[redacted] submitted by Mr. [redacted]. Mr. [redacted] stated in his complaint that due to his loan with Lenox being sold
to another service and, even though he made his payment on time as instructed by
/>
Lenox, that his credit report reflected a late payment on his mortgage.
The Lenox Servicing Manager has corresponded with Mr. [redacted] and reviewed his
complaint. Lenox has determined that there was a report coding error in the system
(system glitch) which inadvertently caused the 08/01/2014 mortgage payment to be
reported as delinquent instead of reported as "transferred to a new servicer." The
system coding error has been rectified. Additionally, Lenox has electronically responded
to the credit disputes through e-Oscar and contacted the bureaus to revise the reporting
error. Lenox has sent a written apology and explanation to Mr. [redacted] by email and 
has spoken with him by telephone.
We hope this meets with your satisfaction. Should you have any questions or need 
additional information you can contact me at the number or email below.
Sincerely,

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
Per your request here is the complete email from your agent:
Hi [redacted], 
Here is the 15 yr amortization table to show $714 goes to
principle. You currently put $264 approx to principle and $160 extra to equal
$424 to principle and your payment is about $1600 month. Why not put $714 or an
extra $290 to principle for FREE at the same payment of $1600. You also shave
9.5 yrs off the loan at a savings of $97248 after 15 yrs for free. If you move
in 5 yrs you will have $290 x 60months or $17400 for free. 
Its my job to show the benefit and the math will show $290 more
to equity for no-cost. I will get you to 3.5 if rates drop as we offer a float
down for no cost too. 
Please respond back and I would be glad to finish up the
application. 
Regards, 
[redacted]Mortgage Consultant | NMLS ID # 67571 |   Lenox
Financial Mortgage Corp. dba Weslend Financial
toll free 888.945.4105  ext [redacted] | direct [redacted]| fax [redacted] | email  [redacted]@lenoxhomeloans.com
Again there is no mention of additional cost including paying to extend rate locks. Any delays should have been anticipated by you our your representatives and not the burden of the borrower since I promptly returned all requested paperwork. These costs should not be passed on to the borrower.
Regards,
[redacted]

Also goes by the name Weslend Financial. I called them to get a refinance on a rental property and they told me the property just needed to appraise and they would fund at 75% LTV. I got the appraisal (700 dollars) was all set to close on the loan and they changed the loan terms to 70% LTV which would have had me come out of pocket an additional 8,000 dollars. Now I've had to transfer my appraisal to another company which costs me another 275 dollars as well as delay my refinance by about a month and a half. I was refinancing to get out of a high interest hard money loan of 13% and this delay has cost me over 2000 dollars so far. Loan still hasn't closed with the new company because of appraisal transfer issues.

This letter is in response to the Complaint ID #[redacted] submitted by Ms. [redacted], Ms. [redacted] stated in her complaint that Lenox Financial Mortgage Corporation (“Lenox”) had reported her to the credit bureaus as late on her mortgage payment in August 2014 when in fact she had made her mortgage...

payment on time.The Lenox Servicing Department has researched and reviewed Ms. [redacted]'s complaint and determined that there was an inadvertent coding error which resulted in Ms. [redacted]’s account reflecting a mortgage late instead of the code which indicated that her mortgage loan had been transferred to a new servicer. Lenox has reached out to the credit bureaus to correct the coding error in Ms. [redacted]’s Credit Report File in order to remove the mortgage late and reflect the transfer of servicing instead.Lenox has reached out to Ms. [redacted] and sent her the attached letter apologizing for the error, explaining the source of the discrepancy and the steps Lenox has taken to resolve the error.We hope this meets with your satisfaction. Should you have any questions or need additional information you can contact me at the number or email below.Sincerely, [redacted] SVP Compliance & General Counsel Email: [redacted]Telephone: [redacted]

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution would be satisfactory to me.  I will wait for the business to perform this action and, if it does, will consider this complaint resolved.
The only concern that I have is Lenox did not make an effort to notify me of the error.  I discovered the error on my own while checking my credit report.
Regards,
[redacted]