Pacific Bancorp, as they market themselves, aka North American Home Loans, aka North American Home Funding, aka North American real Estate Services, aka PacDex, aka PacDex. Os promotes themselves as a way for good mortgage loan originators to earn all of the income that they themselves generate for a small fee.
For that small fee, of which they allow 3 options, annual contract, monthly contract or per file contract, they claim that they will train, support and provide compliance and that they have all the tools, technology and compliance in place to allow anyone to legally originate mortgage loans in all 50 states. The initial cost of set up with this company, which is above and beyond the above mentioned fees, will vary depending on which pay method you select.
One of many of their FALSE claims is that their proprietary LOC. Os Loan Origination and Compliance System can provide instant state specific and compliant documents that can also be emailed directly to the consumer for signatures and to begin the loan process. This can be viewed by going to www.pacificbancorpbranch.net and clicking on the annoying pop up "training video" they have on the home page.
The truth is once you pay them chances are great you will see the same results I did and you will not ever hear from your sales rep again. The training and support they provide is nothing short of a 30 minute joke of someone reading to you what you can clearly see on a website.
The company also has a zero tolerance policy, which should be clarified as if you make any form of complaint to them you will be terminated, given no explanation and that they have zero tolerance for that.
From the time I went through their "training" process my only form of communication that was once stellar, (prior to paying them that is) was reduced to sparing email replies and 1 time when the "support team" had a person who actually, or accidentally, took one of my numerous calls.
After this "training" was completed, I had basically been thrown to the wolves, to figure out how to work their system and follow procedure and also how to most importantly be able to do business with and through this company.
5 days into this nightmare I had my account SUSPENDED for "inactivity"??? Now come on I have been with them for 5 flipping days and already been suspended for inactivity! I called and my sales rep but somehow he wasnt able to pick up the phone, at least now that the money was sent in. As mentioned, prior to that he took every call or replied within 30 minutes, funny how things change once a disreputable company gets what they are after YOUR money.
I then called for my "branch support" and upon the 2nd call did get someone to actually take my call. I was told that they couldnt figure out why this happened but they would look into it. That was appx 10-11a. At the end of the day I tried calling, of course I only was able to get voice mail, strange, and left a msg that wasnt returned, no surprise.
The next day I promptly tried, yet again, to log into my acct and it still showed as being "suspended for inactivity". I finally sent an email after not getting any feedback around 2-2:30p EST, as to why my acct was still suspended and "lo and behold" I was re-activated about 1-1:30 hrs later and told "it was merely a computer glitch and that happens and whats the big deal"!
Yes, I know, I have been with a company that did an "about face" after getting paid, then after 5 days and was then dealing with being "accidentally" suspended for "inactivity" all while trying to generate business and yet I have to pay them their fees on a set day every single month or I get turned off for that, but hey whats the big deal! Its all good as long as your them!
I have tons of documentation, records, emails, video recordings of the tools they use to lure unsuspecting people in etc.
I even made offers in compromise that would have allowed them to keep some of the money I sent in and I was still going to walk away. My last offer was, if they were going to maintain the position of NO REFUND "BUYER BEWARE", basically their interpretation of what is truly a blatant breach of contract and false and misleading advertising and statements, that I would give them yet another chance to right was was terribly wrong. If they would at least extend my due dates for payments due to them, since the delays were completely 100% their fault, I would continue to try to promote them and deliver business. I was told that while they couldnt make any changes to due dates, even when their own errors caused hardship and delays, that they did in fact accept my offer to terminate but somehow denied my refund, which was tied to that offer, again strange isnt it?
I have no earthly idea how any company that operates in this manner could maintain licenses in all 50 states but promise to do all I can and assist anyone in any way possible to make sure they either change the way they do business or to help see them go out of business so others dont get caught in their fraudulent and misleading operation.
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