| 12/27/2016 |
Yes |
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- Application, originator, mortgage broker
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Web |
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Summary : the Allen Tate Mortgage has a promotion called its " Best Rate Guarantee. '' This Promotion says that if Allen Tate Mortgage can not " meet or beat your offer from another lender, we 'll give you {$500.00} after closing. '' I tried to use this promotion because I secured financing from another lender, which Allen Tate Mortgage could not meet or beat, and later ( after closing ) a representative of Allen Tate Mortgage said I did not qualify for the promotion. I asked for additional detail about why I did not qualify and received only a brief response with no follow-up ( which was promised ). I think this promotion is designed so that it never has to be honored, and do n't think that is allowed in North Carolina.
More Detail : My Allen Tate real estate ( buyer 's ) agent let me know about the Best Rate Guarantee and that is the primary reason I contacted Allen Tate Mortgage. I felt the Best Rate Guarantee was a good promotion : it gives Allen Tate Mortgage an opportunity to earn my business, and if they ca n't " meet or beat '' my best offer from another mortgage company, they provide {$500.00}. During the home-buying process I kept Allen Tate Mortgage aware of any developments in my financing, and provided all documentation per the Best Rate Guarantee promotion. I closed on my new home on XXXX/XXXX/16. On XXXX/XXXX/16 I asked Allen Tate Mortgage to honor the terms of the Best Rate Guarantee ( which, as of this writing, is still advertised at XXXX ). I received this response : " I apologize that I did not respond earlier. I had sent the request in and I can send you the wording on the Best Rate Guarantee offer. Because we do not offer that program, I am sorry but it does not qualify for the {$500.00}. If we had an investor that would do the VA loan according to your qualifications, the BRG would have applied. Due to the fact that we do n't, it is spelled out in the wording of the offering, that in your case it would not apply. I am so sorry. '' I asked for clarification, and did not receive a response.
I researched the Best Rate Guarantee disclaimer provided on Allen Tate 's website ( since I did not get any additional detail from the Sr. Mortgage Consultant ). Per the following portion of the disclaimer : " Best Rate Guarantee is available on all loan programs that Allen Tate Mortgage offers for home purchase, with the exception of ... '' I meet none of the exceptions ( i.e. my loan was not a Jumbo loan, it was not new construction, it was not a bank CRA loan, etc. ). I then researched loan programs and found that my loan program- a 30-year VA Loan- is both very common and also offered by Allen Tate Mortgage ( see XXXX ). Per the guarantee, I secured a loan from another mortgage company, which Allen Tate Mortgage could not " meet or beat. '' This loan program ( VA Loan ) is offered by Allen Tate Mortgage. I also provided all required documentation for the Best Rate Guarantee. Allen Tate Mortgage apparently had a problem securing an investor for my potential loan- but that is not disclaimed on the promotion, and therefore should not be used to deny the benefits of the promotion. Unfortunately, it appears Allen Tate Mortgage can deny consumers the benefit of its Best Rate Guarantee promotion based on a very loose interpretation of the phrase " loan programs '' in the disclaimer. If that is the case, Allen Tate Mortgage apparently never has to honor the terms of the promotion, all the while using it as a prominent feature of their marketing.
The Best Rate Guarantee can be found at XXXX
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| 08/15/2015 |
No |
- Mortgage
- Conventional fixed mortgage
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- Settlement process and costs
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Web |
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I closed on my home on XXXX/XXXX/15 with a mortgage underwritten by Allen Tate Mortgage out of XXXX, NC. On XXXX/XXXX/15, I was contracted by Allen Tate to provide numerous pieces of information previously provided during the credit approval process prior to funding which I can provide back up for. Additionally, they want to come in my home to get more appraisal information on a closed loan 45 days later. They are saying the document I signed indicated I had to help them in any way they required but it says clerical errors and reasonable requests. The loan process is very arduous and I met all requirements and closed on my loan and now am being harassed by the lender. Additionally, it seems as though they have misplaced all the statements, pay stubs, etc in my entire file which they are asking me for again. Upon asking their Compliance Manager, XXXX XXXX where my personal data was and why he could not validate he had it, he said he was investigating further. My mortgage person at Allen XXXX, Nick XXXX will not return any calls on the matter nor tell me if I should forward the XX/XX/XXXX payment to Allen Tate Mortgage or the other company which sent me an email but has not sent me a statement. I am a XXXX year old female XXXX who saved and bought my first home and feel very strongly that this is harassment because of my gender and age as through every step of the process they have avoided my calls, repeatedly asked for additional info, charged a higher rate than originally quoted by a 1/4 point, closed the loan and now are asking for all the info previously sent 45 days after closing, this is terrible and not reasonable. Other consumers should be made aware of these poor and discriminatory business practices and do not listen to your Allen Tate real estate agent if they recommend their mortgage arm. Please help if you can and warn other females to stay away from this company! Thank you fir looking into this matter further.
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| 11/14/2016 |
No |
- Mortgage
- Conventional fixed mortgage
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- Application, originator, mortgage broker
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Web |
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I started the pre-approval process with XXXX XXXX at Allen Tate in XXXX XXXX, SC nearly 2 months ago. I submitted paperwork he requested. He then said he needed more paperwork. I submitted the paperworkwork again. He then asked for more paperwork, which seemed to be redundant. Today, he said he left a VM saying he would no longer be working with me, basically dropping me after submitting all this information. He directed me to the underwriter, who I have called twice with no response. Starting all over will mean my credit score will be lower causing an increase in rate, also I am not sure about his experience as he said he was mistaken about documentation for different loan. Overall, I feel ' hung out to dry ' by my experience and do n't know how to resolve this.
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| 04/09/2017 |
No |
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- Credit decision / Underwriting
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Web |
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Earlier this year, I was pre-approved for a USDA home loan through Allen Tate Mortgage. After providing verification of income, college transcripts, identification records, tax forms, etc. I went under contract on a home and began the process of paying for due diligence and home appraisal. I was then informed about two weeks before my closing date that my loan had been declined ( after paying out close to {$900.00} ). My income, credit score, and other factors all met guidelines for this loan.
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| 07/15/2019 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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| 04/11/2014 |
No |
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- Application, originator, mortgage broker
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Referral |
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| 08/05/2013 |
No |
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- Application, originator, mortgage broker
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Phone |
Servicemember |
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| 02/20/2012 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Credit decision / Underwriting
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Web |
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