Spectrum One Mortgage Corp

I would like my 1,refunded as it was [redacted] misrepresentation and poor guidance to sign it awayI would like this company to not seek out Veterans in the community with these promises of helping to purchase a home with the VA loan[redacted]

To Whom It May Concern, This is the rare case that we are not able to control in the world of lendingUnfortunately this client did not qualify for the loanOur Processing Agent [redacted] is contracted with many other brokers and sought out a program that our company doesn’t offerAll official loan paperwork was not provided by Spectrum One Mortgage It was provide from another Broker Company We wish this client all the best of luck, unfortunately our firm doesn’t offer the program they were looking to get qualified forSincerely, [redacted]

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below
*** *** assured me I was approved not I might or might notShe was decietful in how she did business I didn't expect to be lied or manipulatedI only wanted some accountability.
Regards,
*** ***

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below
First of all their response is a total lie!!! They straight out told me that they only wanted to deal with me and wanted nothing to do with my wife since she would be a non borrowing spouseThere was no problem until I signed papers and Would Not sign the papers that were included which stated " that I was not married" which I could not signThis company NEVER ran her credit and once I would not sign the statement that I was not marriedFrom that point on if I called to find out what was going on with the loan Jeff would never tell me why or what was going on with the loan and he refused to give an answerBut there was no problem until they demanded I lie in writing that I was not marriedPURE DISCRIMINATION AGAINST HER!!!
Regards,
*** ***

To Whom It May Concern,
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This is the rare case
that we are not able to control in the world of lendingUnfortunately this
client did not qualify for the loanOur Processing Agent *** is contracted
with many other brokers and sought out a program that our company doesn’t
offerAll official loan paperwork was not provided by Spectrum One Mortgage
It was provide from another Broker Company
We wish this client all
the best of luck, unfortunately our firm doesn’t offer the program they were
looking to get qualified for.Sincerely,*** ***

My staff and I tried everything that we could do to get ** *** a new Reverse mortgageUnfortunately his wife is much younger then he is and because of that fact the numbers would not work for ** *** to get a new reverse mortgage** *** is current in a HECM (Reverse) and when get a 2nd reverse
mortgage there needs to be a 5/benefit ratio in order to qualify for the new reverse mortgageThat means that if it costs $5,the borrower must walk away with $25,ore moreIn the case of ** ***'s situation the 5/benefit factor could not be meet.It wasn't till a week or so into the transaction that it was disclosed to my staff that there was a Mrs *** and that she was younger then ** ***For a reverse mortgage the numbers must be factored off the younger of the two spouses. In the case of initially obtaining a reverse mortgage the 5/benefit factor does not need to be metThat is the reason that ** *** was able to get the his first reverse mortgageFurther more even those Mrs *** is younger then ** *** the numbers for his initial reverse mortgage worked and he was able to obtain it.It is always in greatest goal to meet the needs of our clients that we serveIn this case we as company feel that we did everything in our power to help the ***'s and its just unfortunate that the numbers didn't work to meet the 5/benefit ratio. Thank you for your time.*** *** *** *** *** *** ***
*** ** *** *** *** *** *
*** ***
*** ***
***
***
*** ***

I am not sure how to respond to this and it is not in our practice to get into a back and forth dispute match. The bottom line here is the [redacted]'s do not qualify for an new HECM mortgage. We wish them the best of luck in pursuing it with another company if that is what they intend to do so.

I would like my 1,000 refunded as it was [redacted] misrepresentation and poor guidance to sign it away. I would like this company to not seek out Veterans in the community with these false promises of helping to purchase a home with the VA loan.[redacted].

To Whom It May Concern,
This is the rare case
that we are not able to control in the world of lending. Unfortunately this
client did not qualify for the loan. Our Processing Agent [redacted] is contracted
with many other brokers and sought out a program that our company doesn’t
offer. All official loan paperwork was not provided by Spectrum One Mortgage.
It was provide from another Broker Company.
We wish this client all
the best of luck, unfortunately our firm doesn’t offer the program they were
looking to get qualified for.
Sincerely,
[redacted]

My staff and I tried everything that we could do to get [redacted] a new Reverse mortgage. Unfortunately his wife is much younger then he is and because of that fact the numbers would not work for [redacted] to get a new reverse mortgage. [redacted] is...

current in a HECM (Reverse) and when get a 2nd reverse mortgage there needs to be a 5/1 benefit ratio in order to qualify for the new reverse mortgage. That means that if it costs $5,000 the borrower must walk away with $25,000 ore more. In the case of [redacted]'s situation the 5/1 benefit factor could not be meet.
It wasn't till a week or so into the transaction that it was disclosed to my staff that there was a Mrs [redacted] and that she was younger then [redacted]. For a reverse mortgage the numbers must be factored off the younger of the two spouses. 
In the case of initially obtaining a reverse mortgage the 5/1 benefit factor does not need to be met. That is the reason that [redacted] was able to get the his first reverse mortgage. Further more even those Mrs [redacted] is younger then [redacted] the numbers for his initial reverse mortgage worked and he was able to obtain it.
It is always in greatest goal to meet the needs of our clients that we serve. In this case we as company feel that we did everything in our power to help the [redacted]'s and its just unfortunate that the numbers didn't work to meet the 5/1 benefit ratio. 
Thank you for your time.
[redacted]
 
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I would like my 1,000 refunded as it was [redacted] misrepresentation and poor guidance to sign it away. I would like this company to not seek out Veterans in the...

community with these false promises of helping to purchase a home with the VA loan.
[redacted].