Dear Sir or Madam:
On March 31st, I requested the services of The Mortgage Exchange (broker) located at 65 Enterprise Lane, Aliso Viejo, CA 92656 for a refinance loan on my home.
Let me begin by saying that my wife and I are extremely upset and disappointed with the services provided by the above company that resulted in fraudulent and incorrect loan documentation. I had requested and applied for an INTEREST ONLY refinance loan with a payment of $1695.83 from Joe Celaschi with The Mortgage Exchange. What I received was a PRINCIPAL and INTEREST loan with a payment of $2069.60 from New Century Mortgage.
Upon having the appraisal and loan application done, on April 22, a notary, Joanne Lang, arrived at my home with documents that were to be signed to complete the loan process. (NOTE; I have a written and signed statement regarding these events by the NOTARY) When reviewing the documents at signing, it was noted that these documents were found to be completely incorrect.
I immediately contacted Joe Celaschi, via phone, with the notary present, he instructed me to sign the documentation stating, There's no problem, I will change these (documents) and send over new correct docs in the morning. Just sign them and I'll take care of it. He then requested to speak to the notary who informed me that he stated to her Just get them to sign the papers and I'll take care of the rest. While I hesitantly signed the documents, I CROSSED OUT all the erroneous information in regards to the incorrect interest, payment amount, etc., all along knowing that this could not be legally processed.
On April 28th, I was called by the Notary and requested to sign the alleged NEW documentation. Upon reviewing the documents at the home of the notary, my wife and I found that these in fact appeared to be correct. The payment information, the interest, the loan amount were all correct so we completed signing these documents.
Unbeknownst to my wife and I, we received a payment coupon from New Century on May 10th stating the new mortgage payment of $2069.60 with a Principal and Interest Only Loan. (we were assured that would not be our payment, as we were told emphatically that our payment would be $1695.83 by Joe C)
I immediately called New Century to verify the information and in turn I called Joe Celaschi who stated, he would take care of this and it was not a problem. I specifically asked Joe about the right of rescission in addition to the 30-day cancellation policy, again he stated this happens all the time and it won't be a problem and to just give him a few days. (Of note, Joe also stated that he was working with three other customers that this had also happened to.)
In addition I spoke to his assistant, Chris George, who also reassured me that he would take care of this and would commit himself to this issue until it was resolved.
On May 17th I called Tiempo Escrow and spoke to Andrea Walker who further confirmed that the wrong loan information was issued and in addition she stated that she could not find any information regarding the payment amount of $1695.83.
On May 25th, Joe stated that he was in contact with New Century and that he was faxing documentation to them regarding the error in addition he was going to call Andrea Walker from Tiempo Escrow to check on documentation. I called New Century Mortgage and Tiempo Escrow to verify such contact; and per New Century and Andrea Walker there was no such call or fax made by Joe.
On May 26th, I called and spoke to Andrea Walker and she verified that the loan was funded with the first set of (incorrect and crossed out) documents dated April 22nd.in addition there was no second set ever sent to her.
I asked her if Joe was in contact with her and she replied that she has yet to hear from him. Andrea further explained that New Century may have sent over the incorrect documents and suggested I speak to a Supervisor of The Mortgage Exchange and a Supervisor of New Century to get a request for new documents set up. Evidently the second set of documents that were correct had mysteriously disappeared.
I immediately called New Century and left a message for a Supervisor as no-one was available, I never recieved a return call.
On May 28th I called New Century Mortgage and spoke with the Account Manager Anthony Puma. The first thing he stated to me was that it was a conflict of interest for him to be speaking with me. When I asked why, as I was a customer, his response was He just was not supposed to do so. He then stated that his manager was informed of my situation and that there was nothing more that New Century could do. He added that all this incorrect information was the result of The Mortgage Exchange, specifically Joe Celaschi.
I asked who Anthony's boss was which he stated Bill Garcia. I called Mr. Garcia immediately only to find his voice mail wherein I left a very detailed message with a request that he call me immediately. To date I have yet to hear from him.
*Upon further investigation of the Mortgage Exchange, I found that the owners name is Susan Parsons who is in violation of name infringement with the Mortgage Exchange from Illinois. I have contacted Mrs. Parsons who as like Joe, has said from the beginning that this would be no problem and would take care of it. She further stated that she would take care of the payment difference until this issue was resolved; I have yet to receive such assistance. She has been just as eluding and deceptive as Joe.
To sum up this whole situation, The Mortgage Exchange and/or New Century has fraudulently completed this Loan Transaction for their benefit. This loan has cost our family approximately $14,000.00 in addition to the hardship we are currently experiencing. New Century Management would always have different excuses as with The Mortgage Exchange as to who made the error, as no one wants to take the blame, but they do want us to continue making the incorrect mortgage payment, as we have now for the past three months. They seem to work together to confuse the consumer such as myself in order to complete the loan transactions. I had mentioned to Andrea Walker that I was seeking legal counsel as well as any and all media and real estate and/or mortgage resources. Of note, coincidently I recently found that Andrea Walker no longer works for Tiempo Escrow, and of course Tiempo Escrow has no documentation as to the second set of documents that were prepared and signed with the mortgage of $1695.83.
I have all copies of e-mails from Joe Celaschi as well as Susan Parsons. I also have a dated timeline of specific calls and responses.
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