“These Clients were Part of a Lender Fraud Case”
Just a quick message to say thank you for all of your efforts, help, and advice throughout our long and stressful mortgage refinance. We never thought something that was supposed to be quick and easy would turn into such a disheartening 5 month process. With the help of Right Trac we were able to get into a new and "real" mortgage if you will, and finally get some peace of mind. Starting with Eric 8 years ago, up until now, we have been very pleased with you all and will continue to recommend your company to friends and family. I'm sure we will contact you in the future for other refinances. And although we couldn't resolve the issues with the Taylor Bean and Whittaker fraud, we are relieved to be out of that mess and secure in a good mortgage. Joe, one final thing, if you could please share with us the banks/credit unions that could help up with a home equity loan that would be great!
Justin and Nicole
My heart broke for these folks. A number of years ago they did a USDA mortgage with a lender by the name of Taylor, Bean & Whittaker. The chairman of this company is doing some serious time and harmed many people along the way.
When I did the mortgage application I was doing it as a USDA streamline loan which meant the process was pretty seamless and it would be pretty quick. The lender approved the loan and it was sent to USDA for their approval and the loan was denied. It was denied because they indicated they never underwrote the loan way back when and they never got their funding fee.
What happened was TBW kept the $5,000 funding fee which was charged at the time of the original purchase, even though these folks paid the fee and have been making their payments for years and it included a monthly mortgage insurance fee. The current servicer is Bank of America and they also let the clients know, it wasn’t their problem.
Our lender contacted USDA on behalf of these clients to make an exception and approve the loan based on everything that was explained to them and guess what they said, “They were not willing to insure this mortgage for these clients”. Even though I called the local director of USDA, I could get nowhere as well.
I ended up doing a new mortgage for them. It felt great to get the loan closed for them. This time a real mortgage!
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Joe Petrowsky, NMLS #6869
Right Trac Financial Group, Inc. NMLS #2709
110 Main St.
Manchester, Ct. 06042
Office: 860 647-7701 x116
Fax: 860 647-8940
Cell: 860 836-9294
Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.
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