I believe that Polaris does not provide the consumer/borrower with conformed copies of the legal and financial documents that it prepares on a timely basis, if at all, prior to or after the consummation of the transaction in conformance with good business practices and federal and state consumer protection laws.
Polaris does not properly advise the consumer of its available loan programs and manufactures loan documents favorable only to Polaris without the consumer's knowledge and, basically, gives the consumer no options and fails to give the consumer proper disclosures pursuant to both the federal and state consumer protections laws and regulations.
Polaris I believe inflates appraisals at the time of a consumer's loan application in order to strip the home owner of his/her equity in the property.
On July I refinanced a house through Polaris Finance. I signed papers for a 30yr fixed 7% mortgage. When I got to the Title Co. To close, Polaris changed the 7% fixed to a 9.99% ARM. Title Co. Rep and I called the loan officer, she stated that she had to change because in two years my credit would be alot better and I could refinance through Centex at a lower rate with no expense out of my pocket. I noticed on my paperwork after the fact that they changed my loan origination and fee from $720 to $2606.11. My closing costs ended up being $2800 difference. They also mistakingly charged me return check charges after they were the ones who made the initial error and I wrote to them REPEATEDLY asking them to straighten out their error even with a letter from my bank stating the error was theirs and not mine. They continued to accrue these fees and the same thing, I would have someone harrassing me daily without any notes in 'their' files stating everything that had already been discussed. I have all of this documented and wish to get out from under this money making rip-off refi immediately. My payments are ridiculous and I still see fees on my account that should not be there. HELP!!! They are ruining my credit and I have to continually provide this information to the credit bureaus anytime I want to 'buy' anything!!!
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