BBB Business Review

This Business is not BBB Accredited

Southern States Mortgage Company, Inc.

Phone: (704) 987-6600Fax: (800) 341-7273View Additional Phone Numbers16740 Birkdale Commons Pkwy Ste 301, Huntersville NC 28078-4463

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BBB Accreditation

Southern States Mortgage Company, Inc. is not BBB Accredited.

Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.

To be accredited by BBB, a business must apply for accreditation and BBB must determine that the business meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses must pay a fee for accreditation review/monitoring and for support of BBB services to the public.

Reason for Rating

BBB rating is based on 13 factors. Get the details about the factors considered.

This business has no rating because it is out of business.

Customer Complaints SummaryRead complaint details

2 complaints closed with BBB in last 3 years | 0 closed in last 12 months
Complaint TypeTotal Closed Complaints
Advertising / Sales Issues1
Problems with Product / Service1
Billing / Collection Issues0
Delivery Issues0
Guarantee / Warranty Issues0
Total Closed Complaints 2

Customer Reviews Summary Read customer reviews

0 Customer Reviews Customer Reviews on Southern States Mortgage Company, Inc.

Customer Experience Total Customer Reviews
Positive Experience
Neutral Experience
Negative Experience
Total Customer Reviews 0 Customer Reviews

Complaint Breakdown by ResolutionAbout Complaint Details

Complaint Resolution Log (2)
01/17/2014Advertising / Sales Issues | Read Complaint Details

****** ****, the broker, lied regarding the PMI payments and when I would be eligible to stop paying PMI, which lead me to refinance.
I refinanced my property with this Company. ****** ****, the broker, told me numerous times that once i reach the 5 year mark of being in an FHA loan on the same property and 78% loan to value ratio, I can ask the loan holder to assess and take away the PMI portion of my monthly payment. I specifically asked if i need to be in the same loan for 5 years, to which he repeatedly told me no. I have come to find out he was lying. The only reason I refinanced, even though it doubled the PMI portion of my payment, is because I was led to believe that after one year (which makes it 5 years overall), I could call the debt holder and have the PMI portion removed. I closed my refin in Dec 2012.

Desired Settlement
If what ****** promised me is true, I would like info from the Company so I can work with my lender to get my PMI removed. If he lied (which in my discussions with HUD, it seems that he lied), the Company should refi me to a conventional loan with the same interest rate at no cost to me, which is where I would today, if ******'s lies were true.

Business Response
I have reviewed Mr. ****'s complaint as well as all documentation we have on file for him. The loan officer, ****** ****, is no longer an employee of the company. During his tenure with the company, I have not been witness to any complaints against Mr. ****. He has an extensive 10+ years of industry experience and is very knowledgeable and extremely trustworthy.

Mr. **** contacted me in September of 2013 regarding the cancelation of his monthly FHA Mortgage Insurance, I informed him that he needed to contact his current loan servicer to request it to be removed. He was noticeably upset at that time, however there was nothing I could do to satisfy him. As the originator we have no control over his loan, post funding.

There was no further communication with Mr. **** regarding this matter until the day he filed his complaint with the Better Business Bureau which was apprixmately 3 months after our original conversation. I spoke to Mr. **** the day he filed the complaint. He claimed that Mr. **** had lied to him (as he asserts in his complaint) and that he closed his loan with my firm because of a guarantee Mr. **** made regarding his mortgage insurance falling off. I asked Mr. **** to produce documentation regarding this guarantee and he was unable to do so. During my review of the correspondence with Mr. **** prior to his loan closing as well as the entire loan file, there is no indication that a guarantee was ever made. It should be noted that the loan program that Mr. **** provided Mr. **** was an FHA Streamline which saved him over $230 per month.

While researching this I made an interesting discovery. Mr. **** claims that he only refinanced his loan with Mr. **** because he was promised his mortgage insurance would be removed once he was 5 years into his participation in the FHA loan program. The loan that we paid off in December 2012 was originated August 10th, 2010 as evidenced by the note that was provided by Mr. ****'s lender at that time. Mr. **** should also be in possession of this document, as he signed it as part of this prior loan closing. If the guarantee to have the mortgage insurance removed after 5 years from the date of origination of the loan we paid off, he wouldn't be eligible to have the mortgage insurance removed until August 2015.

The removal of monthly FHA mortgage insurance premiums is handled by his loan servicer and HUD. HUD very specifically spells out the conditions under which this takes place. This information is readily available on More specifically the resource that Mr. **** should use to determine when his mortgage insurance will be cancelled is contained within mortgagee letter XXXX-XX which indicates the following:
For mortgages with terms more than 15 years, the annual mortgage insurance premiums will be canceled when the loan to value ratio reaches 78 percent, provided the mortgagor has paid the annual mortgage insurance premiums for at least five years.

I have had numerous conversations with Mr. **** after he filed this complaint with the Better Business Bureau and have explained to the best of my abilities what his options are. I am unable to effect his eligibility to have his mortgage insurance removed and have recommended he work with his current loan servicer to do so. I have offered to be a resource and to assist by looking into refinancing him into a loan that does not have mortgage insurance, assuming he qualifies.

I asked Mr. **** to resolve the complaint prior to us moving forward as I did not want to continue a business relationship with him if he was going to use your organization as leverage against my company. We contend that Mr. **** did nothing wrong and did not guarantee when Mr. ****'s mortgage insurance would be removed. He indicated he would communicate to the Better Business Bureau and let them know that his complaint had been resolved, however he also said that if we did not rectify his situation to his satisfaction that he would reopen the complaint.

I feel as though that Mr. **** is using your system to simply try to get what he wants, not for its intended use which I feel is to protect the general public from unscrupulous business practices.

05/20/2015Problems with Product / Service | Read Complaint Details

Pulled credit without consent using prior application for mortgage
Pulled credit without consent using prior application for mortgage

Desired Settlement
Notify credit company that the credit was pulled without consent

Business Response
I am aware that ********** has indicated that his credit was pulled without his consent. I have spoken to the loan officer who indicates that he was given a verbal authorization by **********. Unfortunately I have no ability to prove either of them right or wrong. It is hard for me to understand why the loan officer would have submitted the request to pull credit without authorization as he would have nothing to gain. I am curious to know if ********** suffered any loss due to this credit inquiry or what his motives are at this point. In speaking with *************************, we were instructed that in order to remove inquiries from a credit report, letters must be sent to all three credit bureaus indicating that the credit pull was in error. If States Mortgage Company were to submit these letters to the credit bureaus I am unsure that ********** would get the result he is looking for as we can't honestly state that we pulled the credit in error; we honestly thought we had authorization so saying otherwise would be providing false information. If I knew more as to what **********'s motives are I may be able to assist further. I can only imagine that if we were to provide the bureaus with letters indicating that both sides were cooperating to fix a misunderstanding that they would be more willing to accept the explanation and help **********.

Industry Comparison| Chart

Mortgage Brokers

Additional Information

BBB file opened: 07/07/2009Business started: 10/03/1997
Type of Entity


Incorporated: October 1997, NC

Contact Information
Principal: Mr. Kevin Casper (Broker in Charge)Mrs. Brenna Olberding (President)
Number of Employees


Business Category

Mortgage Brokers

Alternate Business Names
Southern States Mortgage Funding

1 Locations

  • 16740 Birkdale Commons Pkwy Ste 301 

    Huntersville, NC 28078-4463(866) 482-8723
    (704) 987-6600
    Fax: (800) 341-7273
    Fax: (858) 430-8407

Industry Comparison ChartX

The information in the table below represents an industry comparison of businesses which are of the same relative size. This is based on BBB's database of businesses located in Southern Piedmont/Charlotte, NC. Businesses may engage in more than one type of business. The percent of time the business engages in a type of business is not accounted for. There is no known industry standard for the number of complaints a business can expect. The volume of business and number of transactions may have a bearing on the number of complaints received by BBB.

*Southern States Mortgage Company, Inc. is in this range.


Types of Complaints Handled by BBB

BBB handles the following types of complaints between businesses and their customers so long as they are not, or have not been, litigated:

  • Advertising or Sales
  • Billing or Collection
  • Problems with Products or Services
  • Delivery
  • Guarantee or Warranty

We do not handle workplace disputes, discrimination claims or claims about the quality of health or legal services.


Additional Phone Numbers

  • (866) 482-8723

Additional Fax Numbers

  • (858) 430-8407

BBB Complaint Process

Your complaint will be forwarded to the company within two business days. The company will be asked to respond within 14 days, and if a response is not received, a second request will be made. You will be notified of the company's response when we receive it (or notified that we received no response). Complaints are usually closed within 30 business days.


BBB began including complaint response text in BBB Business Reviews on April 2, 2012.


Industry Tips for Mortgage Brokers


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According to information in BBB files, this company is no longer in business. If you have an unresolved dispute with this company you may wish to seek legal advice.


BBB Customer Review Rating plus BBB Rating Overview

BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.

Customer Review Experience Value
Positive Review 5 points per review
Neutral Review 3 points per review
Negative Review 1 point per review

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BBB Letter Grade Scale

BBB Rating Value
A+ 5
A 4.66
A- 4.33
B+ 4
B 3.66
B- 3.33
C+ 3
C 2.66
C- 2.33
D+ 2
D 1.66
D- 1.33
F 1
NR -----
Star Rating scale

  Average Score
5 stars 5.00
4.5 stars 4.50-4.99
4 stars 4.00-4.49
3.5 stars 3.50-3.99
3 stars 3.00-3.49
2.5 stars 2.50-2.99
2 stars 2.00-2.49
1.5 stars 1.50-1.99
1 star 0-1.49

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