Appllication Fee Scam - They take your fee money based on all your data being good. They then change their mind saying "application incomplete" and deny the loan but keep your fee. All data/forms etc good, appraisal good.
They took $1200 from me for nothing.
They said that all the documents credit report etc were great, prior to taking the fee. The appraisal came in above the expected value.
So evertything was good, They then delayed and sent a letter saying " application incomplete". I called - saying whats going on I have completed and signed and paid and given all the info that was required.
They said, that things changed on their side and they dont want to do the loan, even though my side was good. And that the "incomplete application" is just a computer entry to stop the process. I said, so then give me a refund for the application and appraisal fee because I complied and qualified prir to them canging their parameters. They laughed at me and stopped taking my calls.
In additon to the fee they also wasted a lot of my time and energy and completely jeopardised my ability to get another loan causing a great loss ($5mil) to myself.
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