Mortgage Express of Fresno, CA on Shaw Ave. Bullied me into a terrible mortgage loan during the final 3 days of my home purchase. They tacked on unnecessary fees and told me that if I did not accept the interest only loan, pay more points and accept a higher interest rate that I would be sued by them, by the real estate agents and by the seller, and lose my down payment.
It was a horrible experience. The loan officers were Roger Reed, Daljeet Singh and Aaron Hamilton. The real estate officer in charge is Hope Lopez. The broker for both companies is Brian Keith Cortez and his brother John Cortez. They own Valley Investment Properties and Mortgage Express. They use a typical bait and switch routine to get customers to sign an agreement and then towards the final due date of the transaction they tack on high fees and interest rates so that they can make more money, all at the consumers expense.
Currently, Roger Reed is the manager of Mortgage Express and Hope Lopez is the manager of Valley Investment Properties. They frequently work together to get clients to accept deals which rip off the consumer but make them a high profit. They secretly make arrangements between the two companies to rip off consumers and other real estate companies. Roger Reed sends his loan officers such as Daljeet Singh to the Easton swap meets to get poor families to accept high interest rate home loans. Hope Lopez sends Paul Perez to accompany Daljeet Singh at the swap meets.
They frequently violate the laws of the California Department of Real Estate such as illegally referring clients to their loan company and not telling them about other mortgage loan companies. They also violate RESPA, Regulation Z, predatory lending laws and the Truth-in-Lending Act.
I feel sorry for other victims of their scams. Brian Cortez, the broker went so far as to have their bouncer/loan officer come to my house and force me to sign documents under threat of bodily harm. I threatened to call the Fresno Police Dept and they finally backed away but they ripped me off by charging 4 points for a home loan. They made 2 points from the bank as a yield spread premium and 2 points by charging me upfront for the purchase of my $500,000 home.
I was totally ripped off in the final three days of the transaction. They lured me in by saying they would beat everyone's rates and not charge me very much. I was told that they would only make 1 point which would be about $5,000 on the loan which is typical for a home loan company.
In the end they made 4 points or $20,000 on the loan! But once they got me to start doing business with them all of their promises disappeared and the real scam started to unfold. It was a truly horrible experience and I hope no one else has to go through what I went through with this terrible company. Mortgage Express and Valley Investment Properties are committing real estate and mortgage loan FRAUD. The company's address is 5020 N. Teilman, Fresno, CA 93711.
Mortgage Express in Fresno, CA ripped me off on a home loan during the final 3 days of the transaction by adding unnecessary fees and raising the interest rates. They used bullying tactics and lawsuit threats to get me to sign. Consumers need to watch out for the crooks at Mortgage Express.
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