Professional Mortgage Associates

Review: Dear Sir or Madam,

Recently, I applied for a Reverse Mortgage that was funded in January 2016. The mortgage broker handling the application was Professional Mortgage Associates (PMA) located in Sacramento, CA. This complaint is being lodged because I believe I was misled during the entire process, which took over 5 months; in that the mortgage broker repeatedly stated that I would not be required to pay any closing costs. However, after the loan papers were signed (well over 100 pages) and the loan funded, I reviewed the documents and discovered that the loan broker did not cover all the closing costs as represented. I relied on repeated written and verbal representations on the closing costs and was very surprised to learn that the broker did not cover all the costs without talking with me.Desired Settlement: I contacted PMA and tried to resolve the matter and requested that they reimburse me for the unpaid closing costs totaling $2,048.70. They were very slow to respond and when they finally responded it was very unprofessional. They informed me that they would not pay the costs, but did not even provide any reason as to why they shorted the credit to escrow to cover the costs or how they arrived at the amount ($15,700) that was credited towards closing costs.

I have attached documentation with PMA, including the last correspondence received from them (marked exhibit A) for your review. Please let me know if you need any further information. I look forward to resolving this matter with your assistance.

Sincerely,