NationsChoice Mortgage

I was lied to about the $495 appraisal fee. I just refinanced my home 3 months ago with Greenlight, but I saw that the rate was lower. I called, and submitted all the required paperwork to the guy named Jason **. After looking at all my documents, he said that I would qualify with no problems. So he sent the appraiser out to the house, and charged the $495 fee, that he said, if the loan does go through, he would refund the full $495 to me. Last week he called and said that I qualify, and that he sent the documents to the underwriter to process.

Just yesterday, I called and he said that, my income, for some reasons, now does not qualify, and he can only refund $200 to me. He was very rude in asking me, if I wanted it back or not. I thought he said that his company is very big, and that they don't lie to customers. This is a big time lie, and I wanted everyone in the country to know about this bad practice from this company, particularly this person (Jason **). I called his manager, and left messages, but I never got a return call. It's very hard to get a return calls from this company. I guess they don't care, once they know that they can't make a deal with you.

I had tried going with a mortgage broker but they took too long. I called Nation's Choice and they said since they were a direct lender they could close in 3 weeks. They quoted a rate of 3.75%. I called numerous times asking if we would close on time and if I needed to do anything. I was told, "no". Then I was told my rate had expired and I now had a rate of 4.25%. I said I wanted my $395 back but they would only refund if I signed a document stating I would not speak poorly of them on any website. I refused. I closed at 4.25%.

This company has very poor business practices. At 4.25% they wanted me to sign stating I would not say anything bad and I refused. They tried to have me say I would not refinance with anyone else for 6 months. Again I refused. This company does not know California/Federal and, as a result, delayed my loan so they could make more money by charging a higher interest rate. Avoid this company at all costs unless you want to be ripped off, like I was.

I found Nations Choice Mortgage through the website bankrate.com. The person I spoke to was Mr. S. I told him I wished to refinance my home. He took my personal financial information. He inquired how much I wanted to borrow (a loan of $196,000) and asked if I have a second mortgage, what was my income, credit score, etc. After he took my financial information, there was never any mention of my not qualifying and there was a $495 application fee. He then emailed the forms, including a cc authorization form. An appraiser was sent to my home. Just over a month after I had applied, I received a form letter with the box "excessive obligations" checked. I called Mr. S. He told me I had insufficient income, but he would recheck the numbers and see if anything could be done and call me back.

He never called back. A few days later Mr. S. forwarded me an email stating: "We got an approval at a max loan amount of $159,000. This would mean that you need to bring $62,000 to close. Is this an option for you? "

It is clear from an exorbitant amount requested at closing that Nations Choice Mortgage never had any intention of approving my loan. Mr. S. would have known this as soon as I gave him my financial information during our first conversation, yet he requested a $495 non-refundable application fee and an appraisal. This is highly unethical.

Nations Choice Mortgage is a company that engages in tactics that are deliberately misleading to the consumer. I sent Mr. S. an email stating I would be filing a complaint against Nations Choice Mortgage. Only then did they make me an offer of a $200 refund and I would sign a document stating I would give up my rights to file a complaint. I didn't sign the document as I had every intention of filing complains on consumer websites, so other would be borrowers would be aware of Nations Choice Mortgage's shady business tactics.