Loanpal

I was contacted by LoanPal Specialist *** about refinancing my house. Mr. service itself was impeccable, but I cannot say the same about the practices of his employer.
Beginning early this year, Mr. walked us through a process for refinancing our home, and everything went well, until it came time for the appraisal. LoanPal based the amount we qualified for (which they volunteered from the beginning, we never asked for a specific amount) on the values of other similar properties in our neighborhood.
The appraiser valued our house to be worth about $20,000 less than LoanPal estimated, which in turn would have increased our monthly payments, not reduced them. We politely declined to refinance, and Mr. understood.
A few days later, we received a letter from LoanPal, stating our "loan application was denied because of insufficient collateral".

I was contacted by LoanPal Specialist *** about refinancing my house. Mr. service itself was impeccable, but I cannot say the same about the practices of his employer.
Beginning early this year, Mr. walked us through a process for refinancing our home, and everything went well, until it came time for the appraisal. LoanPal based the amount we qualified for (which they volunteered from the beginning, we never asked for a specific amount) on the values of other similar properties in our neighborhood.
The appraiser valued our house to be worth about $20,000 less than LoanPal estimated, which in turn would have increased our monthly payments, not reduced them. We politely declined to refinance, and Mr. understood.
A few days later, we received a letter from LoanPal, stating our "loan application was denied because of insufficient collateral".

On April 13, 2018 Mr *** of LoanPal called me. I had secured a mortgage refi from LoanPal in Nov. 2016. Mr *** asked if I was interested in refinancing . I told him I may be interested in a loan on a different property.. We discussed various loan structures and decided on a $100k loan for 20 yrs @ 4.99% with 2.5 points. Because I was a return customer with excellent credit rating Mr *** told me that LoanPal would credit me with 1 point ($1000) and pay for my appraisal at closing. I agreed to these specifications. During the next few weeks I provided all of the voluminous qualifying documentation that LoanPal requested. I was in regular contact with Mr *** and his colleague ***. There was never a mention of Loan specifics changing. On May 9 I was scheduled to meet with a notary to sign closing docs. The notary emailed me the closing docs late the prior evening and I quickly reviewed all 109 pages online. Later that day I found that the closing statement only refunded $740 instead of $1695 ($1000 for 1 pt +$695 for appraisal) as promised. I called Mr *** the next day and asked why the closing costs didn't include the expected costs. Mr *** couldn't explain the $740 refund and said he would investigate and call me back. After several days and many calls to LoanPal,Mr *** told me that they changed the points and wouldn't be refunding the full $1000. This strikes me as "bait & switch". I was never notified that the points had changed. I am a senior citizen and would like to think that LoanPal wouldn't attempt to scam me as there are laws against elder fraud.

On April 13, 2018 Mr *** of LoanPal called me. I had secured a mortgage refi from LoanPal in Nov. 2016. Mr *** asked if I was interested in refinancing . I told him I may be interested in a loan on a different property.. We discussed various loan structures and decided on a $100k loan for 20 yrs @ 4.99% with 2.5 points. Because I was a return customer with excellent credit rating Mr *** told me that LoanPal would credit me with 1 point ($1000) and pay for my appraisal at closing. I agreed to these specifications. During the next few weeks I provided all of the voluminous qualifying documentation that LoanPal requested. I was in regular contact with Mr *** and his colleague ***. There was never a mention of Loan specifics changing. On May 9 I was scheduled to meet with a notary to sign closing docs. The notary emailed me the closing docs late the prior evening and I quickly reviewed all 109 pages online. Later that day I found that the closing statement only refunded $740 instead of $1695 ($1000 for 1 pt +$695 for appraisal) as promised. I called Mr *** the next day and asked why the closing costs didn't include the expected costs. Mr *** couldn't explain the $740 refund and said he would investigate and call me back. After several days and many calls to LoanPal,Mr *** told me that they changed the points and wouldn't be refunding the full $1000. This strikes me as "bait & switch". I was never notified that the points had changed. I am a senior citizen and would like to think that LoanPal wouldn't attempt to scam me as there are laws against elder fraud.

On April 13, 2018 Mr *** of LoanPal called me. I had secured a mortgage refi from LoanPal in Nov. 2016. Mr *** asked if I was interested in refinancing . I told him I may be interested in a loan on a different property.. We discussed various loan structures and decided on a $100k loan for 20 yrs @ 4.99% with 2.5 points. Because I was a return customer with excellent credit rating Mr *** told me that LoanPal would credit me with 1 point ($1000) and pay for my appraisal at closing. I agreed to these specifications. During the next few weeks I provided all of the voluminous qualifying documentation that LoanPal requested. I was in regular contact with Mr *** and his colleague ***. There was never a mention of Loan specifics changing. On May 9 I was scheduled to meet with a notary to sign closing docs. The notary emailed me the closing docs late the prior evening and I quickly reviewed all 109 pages online. Later that day I found that the closing statement only refunded $740 instead of $1695 ($1000 for 1 pt +$695 for appraisal) as promised. I called Mr *** the next day and asked why the closing costs didn't include the expected costs. Mr *** couldn't explain the $740 refund and said he would investigate and call me back. After several days and many calls to LoanPal,Mr *** told me that they changed the points and wouldn't be refunding the full $1000. This strikes me as "bait & switch". I was never notified that the points had changed. I am a senior citizen and would like to think that LoanPal wouldn't attempt to scam me as there are laws against elder fraud.

On April 13, 2018 Mr *** of LoanPal called me. I had secured a mortgage refi from LoanPal in Nov. 2016. Mr *** asked if I was interested in refinancing . I told him I may be interested in a loan on a different property.. We discussed various loan structures and decided on a $100k loan for 20 yrs @ 4.99% with 2.5 points. Because I was a return customer with excellent credit rating Mr *** told me that LoanPal would credit me with 1 point ($1000) and pay for my appraisal at closing. I agreed to these specifications. During the next few weeks I provided all of the voluminous qualifying documentation that LoanPal requested. I was in regular contact with Mr *** and his colleague ***. There was never a mention of Loan specifics changing. On May 9 I was scheduled to meet with a notary to sign closing docs. The notary emailed me the closing docs late the prior evening and I quickly reviewed all 109 pages online. Later that day I found that the closing statement only refunded $740 instead of $1695 ($1000 for 1 pt +$695 for appraisal) as promised. I called Mr *** the next day and asked why the closing costs didn't include the expected costs. Mr *** couldn't explain the $740 refund and said he would investigate and call me back. After several days and many calls to LoanPal,Mr *** told me that they changed the points and wouldn't be refunding the full $1000. This strikes me as "bait & switch". I was never notified that the points had changed. I am a senior citizen and would like to think that LoanPal wouldn't attempt to scam me as there are laws against elder fraud.

Thank you for this information. Assuring customer care is at the upmost importance to us. Our records indicate all forms of contact information for customer [redacted] have been removed from our systems. We have removed phone number, email and DNC the record in our system.

Had a great experience. Nathan S was great, very knowledgeable and helped me every step of the way.

Had a great experience. Nathan S was great, very knowledgeable and helped me every step of the way.

Had a great experience. Nathan S was great, very knowledgeable and helped me every step of the way.

Had a great experience. Nathan S was great, very knowledgeable and helped me every step of the way.

LoanPal has had my phone number on their robo-call for two weeks. When I pick-up, if their human is not on another call, they call me "Chris" which is not my name. One of the three robo specialists that did communicate said "Chris" had called from my number (I don't think so), and they would remove my phone number from their list. That was four robo-calls ago. If LoanPal can't manage phone calls, I cannot imagine how anyone would trust them with details of securing a mortgage. Owning a land line was once an asset; with companies line LoanPal it is a liability. Stop Robocalls.

LoanPal has had my phone number on their robo-call for two weeks. When I pick-up, if their human is not on another call, they call me "Chris" which is not my name. One of the three robo specialists that did communicate said "Chris" had called from my number (I don't think so), and they would remove my phone number from their list. That was four robo-calls ago. If LoanPal can't manage phone calls, I cannot imagine how anyone would trust them with details of securing a mortgage. Owning a land line was once an asset; with companies line LoanPal it is a liability. Stop Robocalls.

LoanPal has had my phone number on their robo-call for two weeks. When I pick-up, if their human is not on another call, they call me "Chris" which is not my name. One of the three robo specialists that did communicate said "Chris" had called from my number (I don't think so), and they would remove my phone number from their list. That was four robo-calls ago. If LoanPal can't manage phone calls, I cannot imagine how anyone would trust them with details of securing a mortgage. Owning a land line was once an asset; with companies line LoanPal it is a liability. Stop Robocalls.

LoanPal has had my phone number on their robo-call for two weeks. When I pick-up, if their human is not on another call, they call me "Chris" which is not my name. One of the three robo specialists that did communicate said "Chris" had called from my number (I don't think so), and they would remove my phone number from their list. That was four robo-calls ago. If LoanPal can't manage phone calls, I cannot imagine how anyone would trust them with details of securing a mortgage. Owning a land line was once an asset; with companies line LoanPal it is a liability. Stop Robocalls.

In January/February 2018 I was looking into refinancing with LoanPal. I completed the numerous steps and gave my credit card information to charge a $495.00 home appraisal fee. It was then deemed that I was not financially able to refinance on my own. When I received a phone call from the appraiser I cancelled the appraisal and let him know that I was not approved to refinance. The $495.00 was never credit back to my credit card. I opened a dispute with my creditor and contacted the LoanPal representative, ***, that I was working with asking to have the funds placed back into my account. As of today, 5/17/18, I have not received the $495.00 for the pre-paid appraisal that did not transpire. Any assistance you could give me would be much appreciated. Thank you in advance,

Regards,
Judith Clark

In January/February 2018 I was looking into refinancing with LoanPal. I completed the numerous steps and gave my credit card information to charge a $495.00 home appraisal fee. It was then deemed that I was not financially able to refinance on my own. When I received a phone call from the appraiser I cancelled the appraisal and let him know that I was not approved to refinance. The $495.00 was never credit back to my credit card. I opened a dispute with my creditor and contacted the LoanPal representative, ***, that I was working with asking to have the funds placed back into my account. As of today, 5/17/18, I have not received the $495.00 for the pre-paid appraisal that did not transpire. Any assistance you could give me would be much appreciated. Thank you in advance,

Regards,
Judith Clark

In January/February 2018 I was looking into refinancing with LoanPal. I completed the numerous steps and gave my credit card information to charge a $495.00 home appraisal fee. It was then deemed that I was not financially able to refinance on my own. When I received a phone call from the appraiser I cancelled the appraisal and let him know that I was not approved to refinance. The $495.00 was never credit back to my credit card. I opened a dispute with my creditor and contacted the LoanPal representative, ***, that I was working with asking to have the funds placed back into my account. As of today, 5/17/18, I have not received the $495.00 for the pre-paid appraisal that did not transpire. Any assistance you could give me would be much appreciated. Thank you in advance,

Regards,
Judith Clark

In January/February 2018 I was looking into refinancing with LoanPal. I completed the numerous steps and gave my credit card information to charge a $495.00 home appraisal fee. It was then deemed that I was not financially able to refinance on my own. When I received a phone call from the appraiser I cancelled the appraisal and let him know that I was not approved to refinance. The $495.00 was never credit back to my credit card. I opened a dispute with my creditor and contacted the LoanPal representative, ***, that I was working with asking to have the funds placed back into my account. As of today, 5/17/18, I have not received the $495.00 for the pre-paid appraisal that did not transpire. Any assistance you could give me would be much appreciated. Thank you in advance,

Regards,
Judith Clark

Senior Mortgage Specialist *** was in charge of processing the refinance of my home. He said that I would be required to pay a $495.00-appraisal fee, that personal checks were not accepted, and that I could pay via credit or debit card. I was uncomfortable doing so, but I told him my credit card number, its expiration date, and security code. I told *** I needed time to put two rooms of my home in order before the appraisal. Shortly after speaking with *** I received a call from his manager, who asked me questions concerning my desire to postpone the appraisal. I told him my reason, He then asked: "What is wrong with your home?" I replied: "Nothing!" The manager said appraisers were not interested in the appearance of rooms, which is ridiculous and untrue. In essence, that manager questioned my veracity and insulted my intelligencve, which aroused my indignation. Consequently, I cancelled the loan request during that conversation. No appraisal was performed, but a review of my credit card statement revealed that LoanPal had charged $495.00 to my credit card account on May 3, 2018. Naturally, I requested a refund. To date I have not received it. In addition, I received a "Statement of Credit Denial, Termination, or Change", citing "Credit application incomplete," "Inadequate collateral," and "Unacceptable property" as reasons, which is a disservice to me. If LoanPal were fair and just, it would have acknowledged that it was I who cancelled the loan and it would have cited "Insufficient
data - property" due to the fact that no appraisal was performed.