Resource Financial Network

Attach you will find the Interest Rate Conversion Agreement that relates to the [redacted] mortgage loan with Union Savings BankThe agreement was effective on March 1, with a date of April 1, for the first payment in the amount of $2,The [redacted] made a payment on their loan on March 31, in the amount of $1,This was the amount of their payment prior to the rate conversionThe difference of $was due on the account, which they paid on April 19, I am sorry if there was any misunderstanding and apologize that Ms [redacted] was treated rudely when she called the Bank for an explanationI have advised the manager in that area what occurred and it will be discussed with all the employees

Attached you will find the payment history on [redacted] 's accountShe had a loan with us in which she refinanced with us in The account has been late several times as indicated by the attachmentsPlease let me know if you need any additional informationWe will not be adjusting our reporting to the credit reporting agencies

Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this does not give enough details to resolve my complaint I was contacted by the loan officer yesterday and told him we were moving in a different direction with our loanThis response was given because working with him has been so stressful and even speaking to him on the phone offered stressIf Union Savings Bank would have a loan officer other than MrJ [redacted] contact us we would like to hear what the process of moving forward would look like...it is necessary we start the entire process over and how quickly could we close a loan? Regards, Norman Barker

After researching the facts involved in this situation it became apparent that Union was responsible for the processing delay With that knowledge it was determined that Union will be honoring the expired rate lock agreement and will originate the year loan at the 2.875%, if [redacted] still wants the loan.Also, see attached document

I have had multiple discussions with our Columbus staff regarding this situation. Everyone I have discussed this with has stated that the completion of the bathroom did not occur three days after the appraiser was on site at *** ***’s residence. The expiration of the rate lock was
caused by the delay in completing the bathroomUnion sells all of its fixed rate loans on the secondary market. Rate locks are executed for all fixed rate loans. In a declining rate environment Union will always give the borrower the better of the two rates (locked rate/rate at time of closing). When rates are increasing we are unable to extend rate locks after the expiration unless the delay in processing and closing the loan was Union’s fault. However, when Union has no control over the events that caused the delay they will not honor the rate lock agreement. As stated previously, the delay was not caused by Union.I can understand *** ***’s frustration but it is our position that we were not responsible for the delay and therefore will not honor the expired rate lock agreement

Attached is an email regarding the scope of work that I was to provide pricing on I had been asking for a written list of what repairs were needed on the house because I was very unclear from the appraisal on what the bank wanted repaired; that is where the email begins On Tuesday, March 15, you will see in writing that Sandee is asking me to "supply a repair estimate" Meanwhile, I contacted my realtor and told him how I was okay with providing quotes, that I was just having a difficult time getting a list of needed repairs from the bank My realtor, Tom ***, contacted a friend of his who works at that same bank, Kevin ***, to find out why it was so difficult for the bank to provide me with a scope, that email is included in the attached email thread.I would like clarification on the following:There was no "mistake" made when I was TOLD I have to provide quoteI would like a better reason as to why my quotes were not used when the bank demanded them I feel discriminated against. I was told I have to provide a mold inspection and pricing days prior to closing when not a single word had been said to me regarding any mold inspection or request for pricing at any point during my loan process That is not enough time to have a house inspected for mold and pricing provided There has to be a cut off date that no changes or add ons to the scope of work can be madedays prior to close is not enough time That should have been the FIRST thing the bank wanted an inspection on.I want an explanation as to why the appraiser performed an appraisal without the water turned on and the legal implications of that decision. I want an explanation as to why the appraisal's document is checked "as is" and what that means in legal terms on this form.I want to know why the bank is only accepting the appraiser's price and listed items, when the appraiser only priced out flooring, walls, garage door, and clean up But needed repairs included flooring, walls, plumbing, garage door, and mold removal How does the appraisers price get accepted when it doesn't even include all the needed repairs??????????????????

The bank has fully responded to the complaint and no new information has been presented by Ms*** so we will not be responding again

Attach you will find the Interest Rate Conversion Agreement that relates to the *** mortgage loan with Union Savings BankThe agreement was effective on March 1, with a date of April 1, for the first payment in the amount of $2,The *** made a payment on their loan on March
31, in the amount of $1,This was the amount of their payment prior to the rate conversionThe difference of $was due on the account, which they paid on April 19, I am sorry if there was any misunderstanding and apologize that Ms*** was treated rudely when she called the Bank for an explanationI have advised the manager in that area what occurred and it will be discussed with all the employees

This in response to Ms*** complaint regarding the purchase of a home and the financing of her mortgage loan through Union Savings BankUnion ordered an appraisal of the property and during the course of the appraiser's review he noted several repairs that were needed to the propertyAs
part of his review and what is industry standard, the appraiser estimated the cost of the repairs needed for the propertyIt is our practice to go with the repair estimate done by the appraiserIf Ms*** was informed otherwise it was an error and I apologize for thatIf the borrower can get the repairs done for less money and the property passes inspection after the repairs are completed, the borrower will receive the remaining fundsI am sorry Ms*** was not pleased with the service she received from Union but everything we did involving the needed repairs was done according to the mortgage industry standard

I have stated previously that we are not addressing any more issues regarding Ms*** complaint.Tell us why here

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below
[To assist us in bringing this matter to a close, we would like to know your view on the matter.]The bank did not tell me it is their practice to use the appraiser's valued repairs as the amount they will hold in escrow In fact, the bank told me I need to provide written quotes by contractors for repairs outlined in an attachment Sandy forwarded to me showing the appraiser's paper of suggested costs of repairs WHY WOULD I WASTE MY TIME MEETING DIFFERENT CONTRACTORS AT THE HOUSE SO THEY COULD PROVIDE ME WITH PROPOSALS/QUOTES IF I KNEW THE BANK WAS NOT GOING TO USE THOSE QUOTES? IF THE BANK INFORMED ME THAT THE APPRAISER'S AMOUNT IS THE AMOUNT THEY WERE GOING TO USE REGARDLESS, I WOULD NOT HAVE TOOK OFF WORK THREE DAYS TO MEET CONTRACTORS AT THE HOUSE FOR PRICING The fact that my legitimate quotes, provided by professionals was completely disregarded by the bank is UNETHICAL, and I feel i've been DISCRIMINATED AGAINST because I am in the construction industry and I was told my quotes were too low, indicating that I have used my connections in the industry to provide low quotes THIS IS DISCRIMINATION I provided legitimate quotes and somehow being punished for it! The purpose of the appraisal, and this is in writing on page 1:of the appraisal report, is to "...provide the lender/client an opinion of the market value of the subject property." The purpose of the appraiser isn't to provide pricing for repairs..that is an opinionated price! My pricing provided by professional contractors should hold more legal, binding power than an opinionated price provided by an appraiser If the bank believed my quotes to be too low, they should have called the companies and asked for the contact names that had quoted me those items and got further explanation or verification This is not the first time the bank has chosen to just "disregard" something From day one, they decided to just disregard the fact that the WATER WAS NOT TURNED ON FOR THEIR APPRAISAL, which is a huge NO-NO! They scheduled the appraisal before the water was turned on and the appraiser marked "as is" on the document Attached is a copy of this appraisal Please also note that the appraisal does not show anywhere a clear scope of work that I need fixed The "scope of work" magically appeared in my email on march 21st, attached is that paper labeled appraisal page Attached are copies of all my legitimate quotes that were conveniently dismissed
*** ***

Union Savings Bank has adequately addressed the issue regarding this mortgage loan application. We will not be responding to any additional comments. Tell us why here

Attached you will find the payment history on *** ***'s accountShe had a loan with us in which she refinanced with us in The account has been late several times as indicated by the attachmentsPlease let me know if you need any additional informationWe will not be adjusting
our reporting to the credit reporting agencies

After researching the facts involved in this situation it became apparent that Union was responsible for the processing delay.  With that knowledge it was determined that Union will be honoring the expired rate lock agreement and will originate the 15 year loan at the 2.875%, if [redacted]...

still wants the loan.Also, see attached document

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this does not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
Refusing to address my complaint it terrible business practice, unethical, discriminatory, neglect, etc.  I would like this moved up the chain of command immediately and a formal legitimately response to my complaints clearly outlined in my complaint dated 5/13/2016.
Regards,
[redacted]

At this time, we are unable to do anything. He had turned down our original offer and we are unable to keep the complaint open as it was time sensitive.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this does not give enough details to resolve my complaint.  I was contacted by the loan officer yesterday and told him we were moving in a different direction with our loan. This response was given because working with him has been so stressful and even speaking to him on the phone offered stress. If Union Savings Bank would have a loan officer other than Mr. J[redacted] contact us we would like to hear what the process of moving forward would look like...it is necessary we start the entire process over and how quickly could we close a loan? 
Regards,
Norman Barker