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BBB Accredited Business since

Guaranteed Rate, Inc.

Additional Locations

View Additional Phone Numbers 3940 N Ravenswood Ave, Chicago, IL 60613 http://www.guaranteedrate.com View Additional Web Addresses



BBB Business Reviews may not be reproduced for sales or promotional purposes.

Description



Guaranteed Rate is a Chicago mortgage banker which allows prospective homeowners to apply for and get approved for a home mortgage online, in addition to providing mortgage calculators, credit scores, and other financial information for consumers to use in accessing loans. The company is in the top ten for national lenders and has 170 branches in all 50 states of America.

The company allows for individuals to apply for a mortgage through their loan application, which allows them to customize the rates and conditions of their loan to fit their specific needs. They then gain access to a free credit score report from the three credit bureaus to assist them in seeking their loan and determining how much of a mortgage they can afford. Using the company's automated underwriting service, individuals who qualify for a mortgage can receive their acceptance letter to purchase a home without waiting for a bank and third party.

Their website includes a variety of calculators to allow consumers to determine how much of a mortgage they can afford, whether buying a home is a prudent financial decision for their situation, and how much their monthly payments will be depending on the size of their mortgage. In addition, Guaranteed Rate offers articles regarding financial decisions and financing the purchase of a home, to allow consumers to understand the mortgage and loan process and make appropriate decisions regarding their finances.

Visit the website for Guaranteed Rate to utilize their mortgage and financial calculators, read their articles on financing a new home, and use their loan software to apply for a mortgage.


BBB Accreditation

A BBB Accredited Business since

BBB has determined that Guaranteed Rate, Inc. meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.


Reason for Rating

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

Factors that affect the rating for Guaranteed Rate, Inc. include:

  • Length of time business has been operating
  • Complaint volume filed with BBB for business of this size
  • Response to 56 complaint(s) filed against business
  • Resolution of complaint(s) filed against business


Customer Complaints Summary Read complaint details

56 complaints closed with BBB in last 3 years | 14 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 7
Billing/Collection Issues 12
Delivery Issues 3
Guarantee/Warranty Issues 1
Problems with Product/Service 33
Total Closed Complaints 56

Customer Reviews Summary Read customer reviews

25 Customer Reviews on Guaranteed Rate, Inc.
Customer Experience Total Customer Reviews
Positive Experience 7
Neutral Experience 2
Negative Experience 16
Total Customer Reviews 25

Additional Information

BBB file opened: August 19, 2002 Business started: 10/01/1999 in IL Business started locally: 10/01/1999 Business incorporated 02/10/2000 in IL
Licensing, Bonding or Registration

This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.

These agencies may include:

Illinois Department of Financial and Professional Regulation
100 W. Randolph, 9th Fl, Chicago IL 60601
http://www.idfpr.com
Phone Number: (312) 814-4500

Illinois Department of Insurance
100 W. Randolph St. Suite 9-301, Chicago IL 60601
http://www.idfpr.com/doi
Phone Number: (312) 814-2420

Nationwide Mortgage Licensing System (NMLS)

http://www.nmlsconsumeraccess.org/

Type of Entity

Corporation

Business Management
Mr. Victor Ciardelli, President & CEO
Contact Information
Customer Contact: Customer Success Department
Business Category

Mortgage Bankers Calculating Service Financing Insurance - Auto Insurance - Homeowners Insurance - Life Insurance - Property Loans Loans - Farm & Ranch Loan Originator Mortgage Lender Real Estate Credit (NAICS: 522292)

Alternate Business Names
Guaranteed Rate Insurance
Additional Information

Guaranteed Rate, Inc. has respectfully requested that before filing a BBB complaint, you allow them an opportunity to resolve the issue independent of the BBB. Please contact Guaranteed Rate's Customer Care at 773-328-6467 or CustomerCare@GuaranteedRate.com and a senior manager will assist you with your issue.

For issues received during normal business hours, assistance will be within 2 hours. For non-business hours, assistance will come within 1 business day. Normal Business Hours: M-F 8:30a - 5:30p CST.


Customer Review Rating plus BBB Rating Summary

Guaranteed Rate, Inc. has received 0 out of 5 stars based on 0 Customer Reviews and a BBB Rating of A+.

BBB Customer Review Rating plus BBB Rating Overview

Additional Locations

  • 10 Executive Ct Ste 3

    S Barrington, IL 60010

  • 1699 E Woodfield Rd Ste 320

    Schaumburg, IL 60173 (847) 592-9215

  • THIS LOCATION IS NOT BBB ACCREDITED

    27 Wormwood St Ste 310

    Boston, MA 02210

  • 319 W Ontario St # 2n-a

    Chicago, IL 60654

  • 3940 N Ravenswood Ave

    Chicago, IL 60613

  • 400 Skokie Blvd Ste 450

    Northbrook, IL 60062

  • 506 Higgins Rd

    Park Ridge, IL 60068

  • 600 Hunter Drive

    Oak Brook, IL 60523

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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

BBB letter grades represent the BBB's opinion of the business. The BBB grade is based on BBB file information about the business. In some cases, a business' grade may be lowered if the BBB does not have sufficient information about the business despite BBB requests for that information from the business.
Details

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

BBB Customer Review Rating plus BBB Rating is not a guarantee of a business' reliability or performance, and BBB recommends that consumers consider a business' BBB Rating and Customer Review Rating in addition to all other available information about the business. If the BBB Rating is NR then only Customer Reviews are used for the Star Rating.

Complaint Detail(s)

9/19/2016 Problems with Product/Service | Complaint Details Unavailable
9/2/2016 Billing/Collection Issues | Read Complaint Details
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Additional Notes

Complaint: Multiple problems with Guaranteed rate. Latest being payment related. When I took the mortgage I filled out the paperwork to register for auto-pay, this paperwork stated that I should continue to send my check each month until I am instructed that auto-pay is set-up. So I did just that. For five months. Never receiving confirmation of auto-pay being set-up.Then, August 3, after sending in my check, they take out my payment via auto-pay. I only realized this had happened because of my bank informing me I was overdrawn. I called to resolve and the agent asked me to prove that I had paid twice by emailing in my bank statement - despite confirming that they had received two payments. The agent then advised she would contact me the same day and it would be resolved within 3-5 business days. After a second call on 8/5 I was informed that the previous agent was not available to give me an update and no new notes were on my file. I now sit with $1038 missing from my account which, I was informed today, will be mailed to me once this is resolved and could take up to two weeks.

Desired Settlement: I would like the payment refunded as well as the $35 I incurred in bank charges and a $100 credit on my account for the hassle and stress this has caused.

Business Response: We do appreciate you reaching out with your concerns. We have contacted the proper internal parties and they have confirmed your check has been mailed. Again, thank you for your patience while we worked on getting this resolved for you. 

8/9/2016 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: I saw their TV ad and filled out all their questions, and I had to give my SS number and all my private bank info. Then I get a message that I have to have a purchase price of over $50,000 to apply. Why didn't they tell me that before I gave them all my personal in formation? What are they going to do with my information?

Business Response:

We appreciate the feedback and we apologize for your concern. We request your SSN in order to run free credit scores as part of the ******* Mortgage qualification process. We take your feedback seriously and are looking into more effective messaging that clarifies why we request this information. We assure you that we do not distribute or use your personal information, including your SSN, in any form outside of the requested qualification process. Please let us know if you need additional information or if we have not adequately addressed your concerns.

7/26/2016 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: Guaranteed Rate in FL initiated my loan on my new home. My first payment for July 2016 was mailed to them with a temporary payment coupon on June 17th. Guaranteed Rate received and cashed the check on June 21st. I received notification that Guaranteed Rate had sold my loan to *** Mortgage shortly after sending the check. I was assured at that time, that any payments made to Guaranteed Rate would be immediately forwarded to *** Bank. I am now (July 19th) receiving collection calls from *** Bank, as they have not yet received my July payment. I am told by "****" on July 8th that the payment is being processed, and told by "******" on July 19th that the money was wired to *** on July 12th. *** does not have the payment, nor can any proof be provided that Guaranteed Rate, did in fact, send the payment. No company should be able to keep your money, allow you to get collection calls, when the payment was made 2 weeks before payment was due. I don't understand how they can be allowed to keep someone else's money for that long.

Desired Settlement: I want my payment delivered to *** Bank and I want Guaranteed Rate to tell them it was received on June 21st.

Business Response: Thank you for your feedback. We understand the proper parties in our Servicing department have assited you with this issue.

Consumer Response:
Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.

Sincerely,

L. **** *********

5/17/2016 Advertising/Sales Issues | Read Complaint Details
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Additional Notes

Complaint: i recently purchased a home and have my mortgage through this lender. First of all I started dealing with one lender then out of nowhere started getting an email from another. I had no idea who this person was and that they were g oing to start handling my home loan. This was how the remainder of my loan processing communication through them remained. I would get random emails from multiple people that worked for the same company, no heads up or handoff that someone else would be contacting me. They just randomly emailed me and at the bottom of the email I had to look at their professional picture and credentials to figure it out who they were. Then a month before the closing of my property I got an email with the estimated amount I would bring to closing. I mentioned to the lender (Jeff Karlin) how I expected to bring more money & I was surprised. He mentioned to me that my total came from not only my down payment but the sellers credits. I received this same estimate the Monday before my closing which was on Thursday. The night before I sent lan email to Jeff confirming the amount and who to have cashiers check endorsed to. I received an email that he would confirm amount first thing in the am and get back to me. 3 1/2 hours prior to my closing I received an email stating I would have to bring around $3000 more to closing. I immediately sent email to lender inquiring about the difference in amount and how unprofessional it was to give me such a different amount hours before closing. The lender then contacted me via phone, stated there must have been a glitch in their computer that miss calculated my property taxes. Charging me for 4 months in escrow vs. a year. My biggest issue is as a purchaser I have the right to know how much I have to pay in e resonable amount of time. I received the same closing costs amount twice via email throughout s month and a half of getting my loan set up. Then hours before they change this amount on me. I felt like I was being scamm

Desired Settlement: I would like a credit of the extra amount that I paid. It was very unprofessional to expect someone to pay $3000 more hours to purchasing a property. If I didn't have that extra money in my account my closing would have been postponed and everything not going as planned. I can understand a $500-$1000 differences. But $3000 more is absolutely rediculious! My attorney at closing mentioned the lender usually over estimates the closing amount, and for me to be noticed to bring more in such limited time is unacceptable. That they should at least give a 3 days notice of financial change.

Business Response:

We appreciate your feedback and the opportunity to resolve your concerns. We ask that you please contact our Customer Care team so we can gather the necessary information to look into your situation. We can be reached at ************ or be emailed at ************@guaranteedrate.com between 8:30 am and 5:30 pm (CST). We take your review seriously and hope to connect with you soon. Regards, The Customer Success Team

 

3/1/2016 Billing/Collection Issues | Read Complaint Details
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Additional Notes

Complaint: I was billed for a premium increase in my insurance that did not make sense to me. My premium was being increased because I did not have car insurance during the time that I did not have or drive a car. Why would someone who doesn't drive pay for car insurance. While I was notified of the premium increase, I disputed it and specifically told my contact at the company I needed them to resolve the premium increase problem or I would not be continuing with their business. My contact at the business agreed to resolve the problem and told me " I sent a request to the underwriter we are assigned to at Travelers to see if they could keep the premium the same. I will let you know as soon as I hear back" Instead of notifying me of the resolution, the contact quit the company and I was charged for the premium increase. I told the company on multiple occasions that I did not agree to pay the premium increase and my policy needed to be cancelled if the premium increased. The company has refused to make any adjustments and has not cancelled my policy.

Desired Settlement: I need to be refunded for the premium increase that should not have been charged to me.

Business Response:

Dear Ms. *****

The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 2/22/2016. We appreciate you giving us the opportunity to resolve your issue.  Our Insurance team is working to make live contact with you in the hopes of better understanding your concerns and finding an acceptable resolution. We will remain in direct contact until the issue is closed. If you have any additional questions or concerns, please feel free to contact manager ******* ***** (************) at your earliest convenience

The Customer Success Team

2/18/2016 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: I wanted to write you about some concerns and problems I’ve had with your company. I did a refinance with your company last year. I was promised a $200.00 a month reduction and jumped on it. (I would also like to note I didn’t inquire with your company. One of your ex-employees ***** ***** reached out to me personally) My mortgage payment went from 1700 to 1500 a month. Then last Wednesday I got a letter in the mail from ***** *****. They stated that my escrow account was short $2200.00. Not only was it short, but it would continue to be short unless I raised my payment to 1610 a month. At this point I was furious. I would never had done the refi to only save 90 dollars a month. Especially because we are likely selling at the end of this year which ***** was aware of. I reached out to ***** last week to find out he no longer works for you. *** **** replied and let me know he was working on it. I reached back out Thursday and Friday and he still said he was working on it and would contact me Monday morning. I reached out yesterday when he didn’t call and didn’t get a reply. Yesterday I left a phone message and am still waiting to hear back. I left two more today and have yet to hear back. The problem comes down to the fact that whoever did my loan paperwork estimated my taxes completely wrong. We have a $250,000 home and they based our taxes on just land, at 900 a year (75.00 a month). That makes zero sense as to why they’d be that low. Prior with ******** we were paying 150.64 a month alone in taxes. Why they would estimate this as half of what is was is a huge error made by your company.

Desired Settlement: I would like your company to pay my deficit this year of $2200 or reimburse me my closing fees that I paid your company.

Business Response:

Hello ******,

The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 2/12/16.  Currently one of our region’s managers, **** ******, is trying to contact you to better understand your issue and help resolve this problem.  If you would like to reach out to us directly, please feel free to contact the Customer Care Hotline (************) at your earliest convenience.

The Customer Success Team

Guaranteed Rate

Consumer Response:
Complaint: ********

I am rejecting this response because: One of their "Managers" finally reached out to me.  Basically said he would do nothing.  Their company charged me thousands in finance fees and they are not willing to reimburse anything.  This company is a scam.

Sincerely,

****** ****

2/13/2016 Billing/Collection Issues | Read Complaint Details
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Additional Notes

Complaint: I applied for a loan to complete working on my home. I told GR Loans my situation, the fact that the house was being remodeled, and that the money would be used for finishing the repair projects. At that time, I was told that GR loans would provide a loan for me. If the loan officer would have told me up front that they can not finance a house that is under construction, I would have stopped progress on the loan. The loan officer kept the file open, ordered an appraisal. The house failed the appraisal because the house is being remodeled. It cost me $180 to find out that they would nto give me a loan, even though the loan progressed with GR Loans knowing that the house was not completely done. I feel that I should get all of the $500 deposit back, not a reduced amount.

Desired Settlement: Want a complete refund of the $500 deposit, rather than the reduced amount of $320.00. Also, want my credit report to NOT show that this loan was denied.

Business Response:

Hello,

The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 2/1/2016. Thank you for giving us the opportunity to address your concerns as your business is very important to us. Guaranteed Rate prides itself on client satisfaction and we regret that your experience has been less than satisfactory.

The Customer Success Team is working to make live contact with you in the hopes of better understanding your concerns and finding an acceptable resolution. We will remain in direct contact until the issue is closed. If you have any additional questions or concerns, please feel free to contact the Customer Care Hotline (************) at your earliest convenience.

Respectfully,

The Customer Success Team

1/30/2016 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: My wife and I were pre approved for a loan and made an offer on a house. We were told that the loan would be approved so at direction of Will ***** we paid $500 on a appraisal. Will ***** then told me that he miss calculated and we were denied the loan. We would never had paid for an appraisal if I knew it was a gamble. The thing that gets me is that he(Will *****) admitted to me more then once that is was his mistake not mine. Therefore I believe his company should have reimbursed us for his mistake

Desired Settlement: I would like to be reimbursed the $500

Business Response:

Dear Anthony,

The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint. Thank you for giving us the opportunity to address your concerns as your business is very important to us. Guaranteed Rate prides itself on client satisfaction and we regret that your experience has been less than satisfactory. Unfortunately, we cannot grant your request for a refund of the appraisal fee due to the following reasons: A) Guaranteed Rate does not gain any direct financial benefit from any appraisal fee paid by any of our customers. B) You did receive the service you paid for which was an appraisal of the current value of your property.

A Customer Success Analyst has already spoken to you and will remain in direct contact until the issue is closed. If you have any additional questions or concerns, please feel free to contact the Customer Care Hotline (773-328-6467) at your earliest convenience.

Thank you,
Customer Success Team

1/20/2016 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: I applied for a VA refinance on my home with Guaranteed Rate back in July of 2015. I submitted every form that I was asked to supply the loan officer I was working with, everything from Divorce paperwork, reasons for credit inquiries, bank statements etc.. The process got all the way to the underwriter and then they would ask for something else I need to provide, whether it was another document or to sign something. By this time it was around November! I expressed to them throughout the process, that it was taking a very long time to get this done. I would ask them why it was taking so long? There were times I wouldn't hear anything back. Then I get an email from another person stating that the person who was working on my refinance, was no longer with the company and I was assigned to a new person. This person asked for a few items and a signature. I provided them al of this and was told it will be given to the underwriter for approval. Well, it has been almost two months now. I have sent several emails to ask if there were any updates and I have not received anything. I have expressed to them how upsetting this whole six month process has been. I had told the person that If I had to provide anymore paperwork, That I would want to end the process and receive a refund for the fee I provided to them when I first started the process.

Desired Settlement: I would like them to finish the process now or stop the process and give me a refund.

Business Response:



Hello George

The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB). Thank you for giving us the opportunity to address your concerns as your business is very important to us. We are very sorry to hear about the difficulties you have experience thus far during your loan process and will work diligently to help resolve the situation. We have begun an internal investigation into this case and will have your Loan Officer reach out to you as soon as possible with an updated timeline. We understand that the documentation process can be strenuous, and appreciate your patience. If you have any questions please feel free to contact us directly at (773)328-6467

Thank you,

The Customer Success Team

Consumer Response:
Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.

Sincerely,

George *****

11/23/2015 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: Guaranteed Rate performed and inadequate appraisal of my home. Then asked me to do the work to get the appraisal corrected as I am the one who knows the area. Every single property used to compare did not come close to mine to my home. I have 12 acres valued at $10,000 per acre. Guaranteed Rate hired and appraiser that does not have experience in rural appraisals. Due to the area I live in it is required to extend the radius of the comparable properties. The cost approach of the property was $110,000 dollars difference than the appraisal. Due to the incompetence of the appraiser used I had to hire a local finance company who knows the area.

Desired Settlement: I would like a refund of the $400.00 appraisal fee

Business Response:

Hello!

The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 11/11/2015. Thank you for giving us the opportunity to address your concerns as your business is very important to us!

We apologize for any frustrations you experienced during your loan process, but want to clarify that it was not Guaranteed Rate who preformed the appraisal on your home.  Appraisals are conducted by a 3rd party appraisal company.   Unfortunately, we cannot grant your request for a refund of the appraisal fee due to the following reasons: A) Guaranteed Rate does not gain any direct financial benefit from any appraisal fee paid by any of our customers. B) You did receive the service you paid for which was an appraisal of the current value of your property.  If you still feel the appraisal was unjust, please contact the appraisal company directly.  If you have any questions regarding the company that preformed your appraisal, we would be more than happy provide the information for you.

Guaranteed Rate will consider this specific issue resolved.  If you have any other questions or concerns, please feel free to contact our Customer Success team at (773) 328-6467 or CustomerCare@GuaranteedRate.com.

Cheers
Colleen ******
Customer Success Team

Consumer Response:


Complaint: ********

I am rejecting this response because:  It is Guaranteed Rates who hires the 3rd party, not myself.   Guaranteed Rate did not contact the appraisal company or do anything to assist me with correcting the issue except ask me to do the work in contacting a real estate agent.   The effort of at least questioning the appraisal should of been made but wasn't. 

Sincerely,

Cynthia ******

10/21/2015 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: on June 23 after a strong recommendation from my realtor I called Joann Larson with Guaranteed Rate in *************** and was told that I was pre qualified for a house that I was looking at. The only stipulation was that I pay off a small loan that I had. I paid off the loan as requested and started going forward on the house getting all required inspections and corresponding on at least 20 occasions with Guaranteed rate... forward 45 days later and 2 days before we were scheduled to close, I was told that a final review of my file showed I was not qualified for the house because of an error on their end regarding the monthly payment I had on a different loan. Seems******* had put a payment in that was only 1/2 of what the actual payment was not what was on our credit report .************* the branch manager who was at least a little helpful told me that he had me again qualified for the house if I paid off and closed a credit card.. Again forward 3 weeks and just before closing I was told that nope still not qualified after talking to a different lender (Amerifirst) I was told that no reputable company would have ever qualified me for that house. now I am out well over $1500 dollars and now no one with the ********************* office of Guaranteed rate will return my calls.

Desired Settlement: I would like to be made whole for all expenses associated with this loan. I in good faith went forward with the purchase of a house based on the word of an employee of your company. That employee mistakenly entered incorrect information on my application. Because of this error the seller has requested to keep my earnest deposit and I'm out the cost of all inspections. Not to mention hours of time spent trying to get this resolved, unnecessary travel printing and faxing.

Business Response: Initial Business Response /* (1000, 5, 2015/09/18) */ Dear Mr.******* The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 9/4/2015. Thank you for giving us the opportunity to address your concerns as your business is very important to us. We are investigating this issue and will make live contact with you within 1 business day. Guaranteed Rate prides itself on client satisfaction and we regret that your experience has been less than satisfactory. If you have any additional questions or concerns, please feel free to contact the Customer Care Hotline (XXX-XXX-XXXX) at your earliest convenience. Respectfully, ********* ***** VP of Customer Success Initial Consumer Rebuttal /* (3000, 7, 2015/09/30) */ (The consumer indicated he/she DID NOT accept the response from the business.) While I did receive an introductory call from ********* ***** VP of Customer Success. After a short conversation with her I was told that she would have the local office call me and they never have. I tried again to reach out to ********* before the deadline to respond and she has not returned my calls. This issue was clearly a mistake made by their employees that has cost me over $1500. All I asked was that because of their error they compensate me for my loss. I have all emails and copies of the paperwork that show the mistakes that were made. I would be willing to take this to BBB Arbitration if not I will be filing suite in small claims court. If I were you I would steer clear of Guarantied Rate I am very dissatisfied with this company. Final Business Response /* (4000, 9, 2015/10/09) */ Dear Mr.******* The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 9-04-2015. Thank you for giving us the opportunity to address your concerns as your business is very important to us. This email response is a follow up to earlier conversations between yourself and our Customer Success Team. It's my understanding that our Customer Success Department Head, Karin Straehl, has been in contact with you regarding this issue and is awaiting your reply. Please feel free to contact the Customer Care Hotline at (XXX) XXX-XXXX at your earliest convenience. Respectfully, ************** Customer Success Final Consumer Response /* (4200, 11, 2015/10/17) */ (The consumer indicated he/she DID NOT accept the response from the business.) While I have accepted a "gift" as a resolution for my inconvenience it was much less then I lost due to their incompetence. But because I wanted this over and didn't want to have to drag this out and go to court I grudgingly accepted. So in the end I guess all I can say is avoid Guaranteed Rate and go with a company that you can deal with face to face. Some things like buying a house should not be done online for a reason.

10/19/2015 Billing/Collection Issues | Read Complaint Details
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Additional Notes

Complaint: My mortgage payment is going up $700 per month in escrow collections based on projected taxes for next year that are wrong and not based on actual taxes paid in 2014. They refuse to adjust even after I've submitted all of my tax information.

Desired Settlement: Readjustment of collected escrow based on estimated yearly tax amount of $6800 annually.

Business Response: Initial Business Response /* (1000, 5, 2015/10/06) */ Dear Mrs.******* The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 9/22/2015. Thank you for giving us the opportunity to address your concerns as your business is very important to us. We have investigated this complaint and determined that the adjustment to your escrow was appropriate due to an increase in your property taxes. A letter of explanation dated 9/28/15 was mailed to you with the details of this change. This should resolve the issue to your satisfaction, but if you have any additional questions or concerns, please feel free to contact the Customer Care Hotline at (XXX) XXX-XXXX at your earliest convenience. Respectfully, *************** VP of Customer Success

10/12/2015 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: I was in the process of looking into buying a home. My wife and I found a home we liked. We came to an agreement on price. We got a good faith estimate from **** Egan on July 21st. We are not scheduled to close until September 30th. Today, 5 days before closing, I get the actual monthly payment. I glanced at it and it appeared to be very high. I asked **** if the estimate was the same as the GFE and he assured me it was. I decided to look up the original GFE and I discovered he gave me a quote that was over $300 per month less than what I will actually end up paying. **** said I told him what the taxes were. The first thing I was doing when looking at homes was checking taxes, so I knew the tax amount, and I never said it was $7k per year, which is what he based his quote on. **** placed the blame on me for telling him the tax amount. I'll give him the benefit of the doubt and consider that he may have misheard what I said, but isn't this something an expert should be looking up? I don't know of many homes in Illinois with taxes that low in the price range we were looking at, and I can easily find tax information on multiple websites. I will say the error that was made did help to eliminate all of the competition for this company. The reason I did not place the full $300 error on the company is because I did read their GFE and I knew I'd have to pay insurance, which for some reason they don't bother to estimate, but they have no problem underestimating other things to lure you in.

Desired Settlement: I'd like the company to pay for their mistake. If it's not the whole thing, they should be paying part. $300 per month over 30 years is over a $100,000 error. I think a fair settlement is for them to pay half of what they left underestimated, since I now have no idea if I could have gotten a better deal somewhere else. They eliminated competition with a false estimate. Not to mention, they have found a way to ruin what was supposed to be a happy time in our lives.

Business Response: Initial Business Response /* (1000, 5, 2015/10/01) */ Dear Mr.********* The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 9-25-2015. Thank you for giving us the opportunity to address your concerns as your business is very important to us. Guaranteed Rate prides itself on client satisfaction and we regret that your experience has been less than satisfactory. It's my understanding that your loan officer has been in contact with you and explained that your tax estimate was completed properly and to the best of our ability. It is unfortunate that the taxes were higher than expected but this issue could not have been foreseen. This should resolve the issue to your satisfaction, but if you have any additional questions or concerns, please feel free to contact the Customer Care Hotline at (XXX) XXX-XXXXat your earliest convenience. Respectfully, ********* ***** VP of Customer Success

9/21/2015 Problems with Product/Service | Read Complaint Details
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Complaint: I have continuously contacted Guaranteed Rate which each time has taken 15 to 30 minutes to speak to an Insurance department call center person. I have informed them that the condo association holds the Wind/Hail and Flood policy. Sent a copy of each letter from Guaranteed Rate to the Home owners association and they fax per the letter the information requested with my loan number. Each time, they claim it was received and then a few weeks later it happens all over again.

Desired Settlement: Update flood insurance policy on loan and stop the harassment.

Business Response: Initial Business Response /* (1000, 5, 2015/09/08) */ Dear Mrs. ****** The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 8-31-2015. Thank you for giving us the opportunity to address your concerns as your business is very important to us. Guaranteed Rate prides itself on client satisfaction and we regret that your experience has been less than satisfactory. It's my understanding that our servicing department has been in contact with you and was able to update your loan with the current flood insurance information you provided. This should resolve the issue to your satisfaction, but if you have any additional questions or concerns, please feel free to contact the Customer Care Hotline at (XXX) XXX-XXXX at your earliest convenience. Respectfully, *************** VP of Customer Success

9/1/2015 Billing/Collection Issues
8/31/2015 Problems with Product/Service | Read Complaint Details
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Complaint: On May 10, initial refinance app was in process. $400 appraisal was ordered. Appraisal came back lower then expected and was told by officer that unless I produced $10K, there was nothing he could do. I asked for review of appraisal. Was told that I needed to contact realtors and get comps in my area. It took seven emails to even get a receipt for the appraisal. The officer closed the application without my consent. I eventually produced comps in the area and was told that realtors aren't appraisers and that those values don't mean anything--not sure why I was instructed to get them in the first place? It has been impossible to discuss with anyone at their office.

Desired Settlement: Refund of the appraisal amount ($400) and confirmation that the application has been closed.

Business Response: Initial Business Response /* (1000, 5, 2015/08/20) */ Dear Mrs.******* The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 8/6/2015. Thank you for giving us the opportunity to address your concerns as your business is very important to us. We are very sorry that we were not able to fund your loan due to the appraisal coming in too low. We want to assure you that we did try everything possible to resolve the issue with the appraisal. We apologize for any inconvenience you were caused due to this result. Unfortunately, we cannot grant your request for a refund due to the following reasons: A) Guaranteed Rate does not gain any direct financial benefit from any appraisal fee paid by any of our customers. What we do is help broker that transaction, but 100% of that fee goes directly to the appraiser. B) You did receive the service you paid for which was an appraisal of the current value of your property. We now consider this issue to be resolved. Again, we apologize for any frustrations you experienced and we hope that you would consider working with us again in the future. Should you have any further questions or concerns, feel free to contact our Customer Care Team at either (XXX) XXX-XXXX or ************@GuaranteedRate.com. Best Wishes, *************** Customer Success Manager

8/28/2015 Billing/Collection Issues | Read Complaint Details
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Complaint: 4000 characters is not enough to describe the nightmare we went thru. We began the search for a home on April 22nd, 2015. Our agent suggested we speak to ****************** which we did.***** and i spoke about our options and we came to an agreement that i would use there services. we submitted an application which had them run our credit 3 times per my credit report on 3 different days. We obtained our Pre-approval and began searching for our new home. we began sending in all of our paperwork to **************** as well as ***************** This was the beginning of the issues however i would have never guessed what would follow. We finally got all the issues with the property fixed and could now complete the process. prior to the issues being fixed we where told by guaranteed rate that everything was ready on there end and once the issues where resolved we could close within 1-2 days.before we could process any paperwork my bank account became an issue. i was told that because i used my debit card too much i would have to explain most of the purchases, withdrawals and deposits. I did as requested but it still seemed to be an issue. I was then asked to use my wife's account as she had less activity.we did so and in doing so incurred several wire transfer charges we would have otherwise not have incurred. O.Once they where happy with the banks Our closing was scheduled for June 11th, 2015. On the 11th we received a call from our agent that some paperwork for the HUD had not been completed and that our closing would be moved to the following Tuesday the 16TH. The 16th comes along and we find out our packet is still not ready thus we get delayed yet again to the 18th. We sent email after email looking for a clear answer as to what was going on and if the 18th would in fact be our closing day. On the 18th of June our nightmare begins prior to this the issues we had experienced we could deal with. I received a call from**************** about our packet still not having been delivered after we received our clear to close. we later that day where told by **** that a rush was placed on our packet and we would close on the 19th. we reluctantly agreed and looked forward to the next day. On the 19th at around 2 pm i got a call from **** who asked me if my fiancee was married. I explained that she was as Florida does not recognize legal separation. I also asked why she would be asking this if on our application this was also stated and we also had a conversation on that issue because i had inquired with **** on weather processing a divorce would affect us. ****'s answer to that was yes that there cannot be any pending legal matters. Taking her advice that we wouldn't have any issues, we proceeded with the mortgage. We found out that this was now an issue and that her ex husband would now have to be a borrower on our mortgage. This was the start to this disaster.After this news no one at Guaranteed Rate could be contacted via phone nor email. We where able to get her ex husband to agree and sign the documents. After sending the documents we came to find out they where prepared incorrectly. we finally get in contact with guaranteed rate and a new packet is rushed and sent out to the title company. This packet is sent to be singed by the ex husband and it is also incorrect.it is now June 24th and we send an email making it clear that if this is not corrected and closed by the 26th. We would cancel this and loose our deposits but would seek legal action. This must have rocked the boat because everything seemed to come together. The 26th came along and we where able to close. There are quite a few things that occurred during this whole process which where truly unbelievable. It felt as if not only was this our first mortgage process but also guaranteed rates first process. The additional expenses i incurred aren't the real issue. Its the simple fact that out home buying experience was tarnished. The day of closing was far from a happy day.

Desired Settlement: Because of a lack of attention to detail, our closing was heavily delayed. A lack of professionalism cost us financially with unnecessary expenses. Our home buying experience should have been a happy one. Ours was the exact opposite. Because of Guaranteed Rate's lack of attention to detail and professionalism, we now have an extra person on our mortgage and who is considered an owner to our even thou my fiancee and him have been separated for over 10 years. This is truly unacceptable. The only solution to this issue is to refinance the property in order to have that third party removed from the mortgage. Having not completed the closing with him. we would have lost over 9k in good faith money and expenses. we ask for guaranteed rate to step up to the plate and correct this issue. Had they done what we hired them to do, this would have never become an issue to begin with. We asked for Guaranteed rate to provide the funds necessary to close on Re-financing the property in order to remove this 3rd party from this our current mortgage. We also ask for a portion of the expenses caused by your mistakes to also be returned. This cost you will incur is substantially less than what you would have paid in legal fees had we lost our 9k in this process. We are attempting to resolve this and truly hope you clearly see what wrong your Branch in Florida has done. We shouldn't have to pay for the mistakes your office made with this process. Resolving this in this matter will rectify this issue. As much as we would have loved for this to have turned out differently it did not and now has to be addressed. Your reviews claim you provide exceptional service and it seems you the ball was dropped in our case. We hope you see the damage that has been done and choose not to ignore us like the branch in Florida did. Our expectations of you where high when we started this process. Are expectations now are even higher. Hopefully this time you can handle this professionally and with a great attention to detail.

Business Response: Initial Business Response /* (1000, 5, 2015/08/14) */ Dear Mr.******** The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 7/31/2015. Thank you for giving us the opportunity to address your concerns as your business is very important to us. We are investigating this issue and will make live contact with you within 1 business day. Guaranteed Rate prides itself on client satisfaction and we sincerely regret that your loan experience has been less than satisfactory. If you have any additional questions or concerns, please feel free to contact our Customer Care Team at either (XXX) XXX-XXXX or ************@GuaranteedRate.com. Sincerely, ********* ***** Customer Success Manager

8/24/2015 Problems with Product/Service | Read Complaint Details
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Complaint: On January 15, I submitted a package including two year tax returns and complete financials. A credit check was recently made by a car lease company for a car MY COMPANY is leasing, so this has no bearing on me personally. Guaranteed rate was aware of this situation all along. A few days before the scheduled closing in March, I was declined the refinancing of my mortgage on the basis of this car lease. They accused me of 1. hiding it (although it is in my application) 2. Claiming that it is a personal lease (it is not and all the lease paperwork clearly indicates that) and 3. The lease wasn't signed until AFTER I submitted my mortgage application, so at the time of my application, there was no car lease yet. They declined me on the basis of a debt which is not mine. After that, I had not the least problem to secure anew mortgage with a different bank.

Desired Settlement: I will accept $600 despite the additional charges I have incurred.

Business Response: Initial Business Response /* (1000, 8, 2015/08/11) */ Contact Name and Title: ********* ***** Contact Phone: XXX-XXX-XXXX Contact Email: ***************@guaranteedrate.com Dear Mr. *******, The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 7/6/2015. Thank you for giving us the opportunity to address your concerns as your business is very important to us. We are very sorry that we could not close on your loan. Unfortunately, the vehicle you co-signed on must be counted towards your debt-to-income (DTI) ratio. Although it is not a personal lease, you will personally be held financially responsible if the borrower defaults on the payments. We understand that this lease did not yet show up on your credit report at the time of the application; however, your letter of explanation regarding the inquiry on your credit report confirmed that the lease would in fact be added to your report shortly. For these reasons, it is determined that your denial was valid. Again, we are very sorry that we were not able to fund your loan at this time. However, we hope that you will consider working with us again in the future. Should you have any further questions or concerns, please feel free to contact the Customer Care Team at (XXX) XXX-XXXX or ************@GuaranteedRate.com. Sincerely, ********* ***** Customer Success Manager

8/17/2015 Billing/Collection Issues | Read Complaint Details
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Complaint: For lack of space, I can only provide the latest problems, but to summarize, I began a loan application with GR loan officer ******************, locked my rate at 3.625%, and the loan failed to close, because GR did not review what was submitted to underwriting. I extended the sales contract once, and GR still couldn't get it done, so I had to either borrow the money from my father at 5% or lose the deal and my $50k earnest money. ***** (GR) advised me to have a deed of trust and promissory note drawn up and recorded, to make a re-finance quick and easy with no issues. I did that as advised, and bought the house. ***** put me in touch with ************ who was local, to re-finance the home with, if I wished to do so. I shopped rates, closing costs, fees, etc, and could have gone with my personal bank (Bank of America), but chose to stick with GR since you had already put some effort into it, promised lower fees, and you already had EVERYTHING needed, knew all the issues, knew exactly what I needed, and could turn it around quickly.***** told me 20-30 days. We locked at 3.65%. I went through the entire application process (to which I had to make corrections to several of the documents), re-submitted everything, and asked***** (on 4/20) if he would be responsible to make sure this was managed properly, to which he took personal responsibility (see attached).***** promised a $150 re-appraisal, but GR debited another $500 from my account for the appraisal (I had already paid $500 for an appraisal the first go around with ***** (you have now charged a total of $1k to me as of today for appraisals)). I asked ********** for an update on 4/24, and have email documentation of trying to get in touch with***** on 5/7, 5/11, 5/15, 5/29, 6/8, 6/11, and 6/12 (see attached). There are many calls that were made in addition. On the third week of July, I was frustrated and called to ask***** why we had not yet closed yet. He told me that a "tiny" mistake had been made, and my file was put into the wrong program, which might cause a small delay, but shouldn't be a problem. This is where the communication really dropped off. I'm sure it was because GR was trying to find a way to get an exception to the rules of the "wrong program" they put me in. On 6/8, I asked***** to give me an update, On Tuesday, he promised to call me (which he did not). On 6/11, I got him on the phone, but he was "busy" and said he would call me right back (which he did not). On 6/16, I got in touch with*****, voiced my frustration with the lack of coordination, and he made a "personal commitment" to call me back with an update at 2:45 pm (which he did not).... I had to call him around 6pm, and he then promised to give me a solid update the next morning at 10am (which he did not). .... I had to call him from an NC number. All along the way, I called Client relations twice complaining about poor coordination. This is about the point where everything started to come together.***** informed me that I did not qualify for a loan under ******, and the loan would be denied since I hadn't been in the property for 6 months, but he could put me in under Freddie, and close in 1 week, but I will now be at the mercy of the market rate at around 4.0% now. Also, I was advised that it would cost around $6500 to buy back down to the rate I'm currently locked at under the "wrong program". I asked who was responsible for putting me in the "wrong program", but I was advised that these things get pushed through quickly, with little review until due diligence, and loan officers can't be expected to know all the little rules an nuances with mortgage lending..... WHAT???! You guys spit out loads of VERY technical jargon and numbers that I don't understand every time we talk. That should be VERY basic knowledge for a mortgage officer, OR they are AT LEAST obligated to me as a client to take a moment to look it up before screwing me out of all of this time and money.

Desired Settlement: GR has offered to start a new application, but I would now be subject to the current market rates at approximately 3.99%. It would cost me approximately $6500 to buy down the rate to what was originally locked before they put me in an incompatible program, that had no chance of being approved. I want GR to do whatever is necessary to provide me a re-finance loan under the original promised conditions, including the rate that I have locked with them twice, even if it requires them to buy down the rate, since it was their negligence that resulted in the issue.

Business Response: Initial Business Response /* (1000, 5, 2015/07/02) */ Dear Mr.****** The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 6/22/2015. Thank you for giving us the opportunity to address your concerns as your business is very important to us. We regret that your experience has been less than satisfactory. *********** out of our NC office is working on getting a solution that you will find acceptable. I know that you've been in contact and that he has walked you through the details. Please continue to work directly with ***********. If you find the solution proposed unacceptable or have any additional questions or concerns, please feel free to contact the Customer Care Hotline (XXX-XXX-XXXX) at your earliest convenience. Respectfully, *************** Vice President of Client Satisfaction Initial Consumer Rebuttal /* (2000, 7, 2015/07/15) */ (The consumer indicated he/she ACCEPTED the response from the business.) I concur that the company has been in contact with me and, to date, appears to be working on the solution; however, it has been almost 1 month since the complaint was filed, and they have still not closed the loan. My acceptance of their response is completely dependent on GR executing their proposed resolution. Final Consumer Response /* (4200, 17, 2015/08/03) */ (The consumer indicated he/she DID NOT accept the response from the business.) Unless *********** (Branch Manager) is also the Regional Sales Manager, I have NEVER been contacted by a Regional Sales Manager, although I would be glad to speak with one. I have only spoken with Mr.******* and ************ from Customer Service. Today marks the 2-week mark since GR informed of the appraisal issue (7/20/15). Since that time, my rate lock had to be extended (for which GR indicates I am responsible to pay), and no resolution has been put forth between GR and their third party appraisal firm. I spoke with a local mortgage firm and forwarded the appraisal to them. They stated that they did not see an issue with the appraisal or value presented. In short, this is essentially the third opportunity for GR to close this re-finance, and again, they have failed to close. My family continues to incur significant financial consequences of this failure, that I would never have incurred, had I used my local bank. I chose GR originally because of their promise to close quickly. MANY months later, I'm still waiting ONLY because of the rate increases since this all started. GR needs to get it together and make this right. I am still giving them that opportunity, but am still very disappointed. Final Business Response /* (4000, 19, 2015/08/14) */ Dear Mr.****** We have escalated your complaint internally and we regret to inform you that we will not be able to grant your request. Your original loan application was denied due to issues with the appraisal. At your request, Guaranteed Rate was able to obtain an updated appraisal. However, after the underwriter reviewed the updated appraisal, they determined that the original denial would remain in place. It is very unfortunate and disappointing that were not able to close on your refinance loan. We want to assure you that we did try everything possible to resolve the issue with the appraisal. For your inconvenience, we have agreed to cover the cost of both appraisals at no charge to you. We now consider this issue to be resolved. Again, we apologize for any inconvenience you experienced and we hope that you would consider working with us again in the future. Should you have any further questions or concerns, feel free to contact our Customer Care Team at either (XXX) XXX-XXXX or ************@GuaranteedRate.com. Best Wishes, *************** Customer Success Manager

8/10/2015 Problems with Product/Service | Read Complaint Details
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Complaint: On the 27th on May 2015 I started the process of applying for a mortgage loan with GUARANTEED RATE of ***************. After weeks and weeks of going back and forth with said company it was problem after problem with paperwork supposedly on my end. After fixing issue after issue I became no longer interested in doing business with GUARANTEED RATE. On the 9th of June 2015 I contacted ********* of Guaranteed Rate explaining how I no longer needed their services and to stop any and all processes. He acknowledged this and the day after explained to my realtor that not only will I be receiving the down payment of $1000 but that i would not be charged for the appraisl fees because they have not been done yet. The following Monday i noticed the deduction of fees from my account. When I contacted **** he said unfortunately i will have to pay. I asked for proof of the appraisal even being conducted and he sent me an email saying he would send me a copy of it. Its been a week now and i have not heard anything from GUARANTEED RATE. Account_Number: *********

Desired Settlement: DesiredSettlementID: Other (requires explanation) I would like the amount they took out of my account for the appraisal put back into my capitol one account.

Business Response: Initial Business Response /* (1000, 6, 2015/07/29) */ Contact Name and Title:**************** Manager Contact Phone: (XXX) XXX-XXXX Contact Email: ***************@guaranteedrate.com Dear ****** ********, The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 7/14/2015. Thank you for giving us the opportunity to address your concerns as your business is very important to us. I am very sorry to hear that you did not have a great experience with us. At Guaranteed Rate, Inc., our goal is to work with our customers to provide them with the best possible product while making the loan process as smooth and easy as possible. I apologize for any problems or miscommunication you faced while working with us. Please be advised that your submission has been shared with the loan officer and their manager so that we can prevent these issues from occurring again in the future. Regarding the appraisal, it is my understanding that the regional manager sent a copy of the document and this issue has been resolved. If this information is incorrect or if you have any further questions or concerns, please feel free to contact me at (XXX) XXX-XXXX. Thank you again for allowing us to address this matter with you! We hope that that you would consider working with us again and give us the opportunity to change your perception of our company. Sincerely, *************** Communications Manager

8/7/2015 Problems with Product/Service
7/31/2015 Billing/Collection Issues | Read Complaint Details
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Complaint: Don't use this lender if you can help it! The branch manager will pass your loan application process to a person who lives in another state. They weren't knowledgable in dealing with VA loans but claimed they did. We had to go back and forth with them numerous times to get the paperwork corrected; it basically looked like they pencil whipped it. Yes, we were under a pretty tight deadline (25 days) but that is not an excuse to incorrectly complete the paperwork. In addition, they weren't consistent in the documents required for the loan application process. It wasn't until I brought up the fact that we had been divorced that then they asked for the decrees. We asked to cancel the appraisal on the home and they had acknowledged my request. I found out the next day they never cancelled it in time and my account had been charged $500. I then notified my realtor and the branch manager of this error. The branch manager ************, assured me it was a mistake and that they would refund this amount to me. Once they found out I was no longer buying the home, they refused to give me a refund. To top it all off, ************ claimed he mistakenly replied to the wrong customer with the response that he would refund me. Really? If that is true that just means they make these kind of mistakes all the time. If you can help it, find another mortgage broker to use. You can find other ones who will offer the same rates. Do yourself a favor and stay away from this company!!!! Product_Or_Service: Mortgage Broker

Desired Settlement: DesiredSettlementID: Refund They fraudulently charged my account for $500 (only refunded $75 because the actual cost of the appraisal was $425) after I had asked them to cancel the appraisal. They confirmed that everything was on hold yet, my account was still charged. They assured me it was their mistake and that it would be refunded to me. This was a lie; they had no intention of refunding me the money due to their mistake.I wan't the $425 I was charged refunded to me in full.

Business Response: Initial Business Response /* (1000, 18, 2015/07/20) */ Dear Mrs.******** The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 5/8/2015. Thank you for giving us the opportunity to address your concerns as your business is very important to us. This email response is a follow up to earlier phone conversations with you and our Customer Care team. We have investigated this complaint and unfortunately, we will not be refunding your appraisal. This is because your request to cancel the appraisal came after it was already completed. Also, because the actual service requested (a home value appraisal) was successfully provided by the appraiser (i.e. you received the services promised). We regret that your loan experience was less than satisfactory. If you have any additional questions or concerns, please feel free to contact the Customer Care Hotline (XXX-XXX-XXXX) at your earliest convenience. Respectfully, *************** Vice President of Client Satisfaction

7/7/2015 Delivery Issues
6/12/2015 Problems with Product/Service
6/12/2015 Problems with Product/Service | Read Complaint Details
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Complaint: Entered into a loan refinance, working with ******* ********** on 2/2/15, by 4/14/2015, after numerous delays, and text and phone calls that went unanswered, I was informed by ******* ********** that my loan was 'dead in the water'. I was also informed by the processor that the only person who could help was *********** yet he was minimally involved, and impossible to get on the phone. Due to the fact that ******* canceled the loan, I am seeking refund of $500. ******* delayed the process of my loan, and he is the person that canceled my loan. He did not perform.

Desired Settlement: I am seeking refund of $500 charged to my card on 3/1/15

Business Response: Initial Business Response /* (1000, 8, 2015/04/27) */ Dear Mr. ********, The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 4/15/2015. Thank you for giving us the opportunity to address your concerns as your business is very important to us. The Customer Care team has already made live contact with you in the hopes of better understanding your concerns and finding an acceptable resolution. Your request for a full reimbursement of your appraisal fee is something we believe is not appropriate for this situation. Our position is that this should not be reimbursed because... A)Guaranteed Rate does not gain any direct financial benefit from any appraisal fee paid by any of our customers. What we do is help broker that transaction, but 100% of that fee goes directly to the appraiser. B)Since your complaint does not comment on the quality of the appraisal, it implies that you were satisfied with the quality of the appraiser's work. You did receive the service you paid for which was an appraisal of the current value of your property. If you did not receive that letter or have question about it, please feel free to contact the Customer Care Hotline (XXX-XXX-XXXX) at your earliest convenience. Respectfully, ****** B ****** Vice President of Client Satisfaction Initial Consumer Rebuttal /* (3000, 10, 2015/04/30) */ (The consumer indicated he/she DID NOT accept the response from the business.) The charge against my card was required as part of the refinance process. Due to the fact that Guranteed Rate is responsible for insuring timely completion of that process, and failed to manage the process causing the expiration of my locked rate, and canceling my loan without any consultation which renders the appraisal useless. The mismanagement of your team effectively cost me $500, and unlike your name implies, my rate was not guaranteed. Final Business Response /* (1000, 16, 2015/06/01) */ Dear Mr. ********, I went ahead and looked further into your complaint, escalating it to the senior manager within that region. After looking deeper into the issue, it's clear that delays were created by both Guaranteed Rate and yourself; but you felt the bulk of the pain because the loan did not close successfully. As an act of good faith and to compensate you for your frustration with the loan process, we've gone ahead and sent you $250 in same as cash **** gift cards. It was sent overnight via *** on 5/22/2015. If you did not receive this package or have question about it, please feel free to contact the Customer Care Hotline (XXX-XXX-XXXX) at your earliest convenience. Respectfully, ****** B ****** Vice President of Client Satisfaction

6/1/2015 Billing/Collection Issues | Read Complaint Details
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Complaint: I have contacted Guaranteed Rate Loss Draft Dept. 7 X in the past 3 weeks because they will not respond to customer service inquiries. My house has severe hail damage & ins. co. sent me and them the checkI've endorsed themsent them back & now they tell me they are only going to send 1/3 of the check backplease tell me if you know of a contractor who can/will order roofing & siding materials for $3,100. Everytime I speak to one of themthey're nice but they give me the run around. I sent 2 checks in 1 envelope but have only received 1 back2 weeks ago.

Desired Settlement: I want the money the ins. co wrote the check for so I can start the repairs on my house.

Business Response: Initial Business Response /* (1000, 8, 2015/05/19) */ Dear Mrs. ******, I wanted to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 5-2-2015. Thank you for giving us the opportunity to address your concerns. Our Customer Care team has investigated your complaint. According to our Servicing Department's records, as of 5/4/2015 we were still awaiting the return of an endorsed check from you (the 2nd of 3). If you have not already done so, please sign and return that check per the instructions provided; this will allow us to expedite payment to you. Our Servicing department will remain in contact you the remainder of the process to ensure successful closure of this transaction. If you have any additional questions or concerns, please feel free to contact the Customer Care Hotline (XXX-XXX-XXXX) at your earliest convenience. Respectfully, ****** B ****** **** ********* of Client Satisfaction

6/1/2015 Problems with Product/Service | Read Complaint Details
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Complaint: The loan officer, via her e-mail of February 7, 2015 and subsequent phone calls, promised me 1/2 point lender credit (amounting to $1,800) and waiver of application fee ($150) as part of our loan rate discussions. Subsequently to match the rate offered by another lender, Guaranteed Rate (GR) Inc. quoted me 3.50% interest rate; GFE/TIL were provided accordingly. However the GFE was silent on lender credit and waiver of application fee. When I raised this with the loan officer and processor/closer, I was assured that management had already agreed to provide both; though this will not be included on GFE/TIL, both costs will be taken care of at closing. Subsequently I was provided with revised TIL disclosure that showed higher APR and Finance Charge than were disclosed initially. In spite of my repeated inquiries via e-mail and phone ascertaining reasons for change in APR & Finance Charge, no one from GR Inc. cared to provide any explanation. The day prior to closing (closing was on April 22, 2015) when I received HUD-1, I was surprised to note that HUD-1 also did not carry any mention about lender credit or waiver of application fee. I brought this to my attorney's notice who in turn contacted the loan officer. I provided the attorney and loan officer copies of all relevant e-mails that transpired between me and the loan officer earlier in this regard. Meanwhile one branch manager (I presume he is the branch manager) called on my cell at about 4:00 pm EST on April 21st and said curtly: "GR Inc. has incurred a loss ($5,000 or so) by agreeing to price your loan at 3.50%; so there is no question of providing any lender credit. Has GR ever issued you any GFE or disclosure to this effect? You can go and complain to any forum; or if you want we will return all that you have incurred so far, and you can take back your application, and seek loan from somewhere else." This statement of the branch manager left me stunned and shocked. While closing was scheduled hours away (at 9:30 am the next day - April 22), now I am being asked to take back my application if I so desire! Feeling helpless by this atrocious behavior, I had to go in for closing the next day though releuctantly. For reasons best known to itself, GR Inc. refunded me $150 by means of a separate check at closing table, outside of settlement cost, being the application fee waiver. It is pertinent to note that though this was one of the commitments made to me by the loan officer initially, was never included on the GFE, TIL, or HUD-1. However GR Inc. still did not honor its commitment to provide 1/2 point lender credit amounting to $1,800 which was also clearly stated in the loan officer's same e-mail of February 7,2015 that included the application fee waiver of $150. Accordingly I seek $1,800 refund from GR Inc. being the 1/2 point lender credit that was promised to me as part of the loan rate negotiations - ref: loan officer's e-mail of February 7, 2015 and subsequent phone confirmations of loan officer and processor/closer. It may be noted that I was never informed at any stage before closing (till the evening of April 21, 2015) that GR Inc. will not honor the 1/2 point lender credit that was promised by its loan officer via e-mail of February 7, 2015. On the contrary based upon discussions with loan officer and processor/closer subsequent to receiving the initial GFE/TIL, I was continuously led to believe that lender credit and application fee waiver will be provided by GR Inc. at closng. Though I received application fee waiver as reimbursement at closing, I have not received 1/2 point lender credit, which I claim now. I had also stated this fact and provided feedback accordingly on GR Inc. survey that was sent to me post-closing. Surprisngly I never received any acknowledgement or management response to my survey feedback till date (May 9, 2015). But for this I have very good and positive experience and recommend GR; look forward to getting justice.

Desired Settlement: I seek the 1/2 point lender credit of $1,800 that was promised and quoted by Guaranteed Inc.

Business Response: Initial Business Response /* (1000, 5, 2015/05/19) */ Dear Mr. **************, I wanted to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 5-9-2015. Thank you for giving us the opportunity to address your concerns as your business is very important to us. Our Customer Care team has investigated your complaint. Unfortunately, we believe no additional compensation is warranted based off what we have already done in good faith to get this loan closed. We refunded the $150 application fee to compensate you for you frustration with the loan process. Also, we closed the loan at a loss that was equal to the amount that you have asked for in this complaint ($1800). We took a loss on this deal for the sole purpose of getting you the desired rate of 3.50%. We regret any dissatisfaction you experienced during your loan experience. If you have any additional questions or concerns, please feel free to contact the Customer Care Hotline (XXX-XXX-XXXX) at your earliest convenience. Respectfully, ****** B ****** **** ********* of ****** ************

5/22/2015 Delivery Issues | Read Complaint Details
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Additional Notes

Complaint: I was contacted by another mortgage broker wanted to restructure my loan (which is not in my name but this other person who used my home address without my consent). This broker told me the loan was issued by Guaranteed Rate. I now have had to spend considerable time making sure that my home title/deed is still in my name, check my credit report to make sure this person is not trying to steel not only my home but my identity). I have had to contact an attorney for advice. Send communication to ** ******** ******* and **** ****** ****** ******** alerting them to this fraud. I have also sent a certified letter to Guaranteed Rate.

Desired Settlement: I want them to confirm in writing that I am not responsible for this loan they gave to this person using my home address. I want them to prosecute this person for fraud. I want them to take responsibility for any identify theft that may occur from them giving this person a loan using my home address without verify the information they were given.

Business Response: Initial Business Response /* (1000, 8, 2015/05/21) */ Dear Mrs. ******, The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 5/7/2015. Thank you for giving us the opportunity to address your concerns as your business is very important to us. We are as disturbed as you that you received this deceptive letter and apologize for any discomfort you experienced because of it. This marketing piece was neither created nor sent to you by Guaranteed Rate. Rather, it was sent illegally by ***********************. We have sent a cease and desist letter to ******* and sent a copy to the ******** ******** ******** We take our customer's and other consumers' privacy very seriously and want to make sure you are protected. We encourage you and any others who have been manipulated by this scheme to also file a complaint against ******* ****** ********* The ******** ******* put's great weight on complaints that come directly from consumers. If you have any additional questions or concerns, please feel free to contact the Customer Care Hotline (XXX-XXX-XXXX) at your earliest convenience. Respectfully, ****** B ****** Vice President of Client Satisfaction Initial Consumer Rebuttal /* (2000, 10, 2015/05/22) */ (The consumer indicated he/she ACCEPTED the response from the business.)

5/8/2015 Billing/Collection Issues | Read Complaint Details
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Complaint: Was pre approved for mortgage through guaranteed rate for purchase of new home. Went through loan application process and was approved by multiple underwriters for mortgage. After loan approval my earnest money deposited was released to seller and loan was to proceed to closure. Guaranteed rate decided for unknown reason with absolutely no explanation given to not fund approved loan with already released earnest money deposit causing loss of deposited money and expiration of contract on house purchase. Absolutely no explanation or remedy has been given or offered at this time

Desired Settlement: I would like restitution of earnest money deposit loss which is 5000 dollars and return of appraisal fee charged by guaranteed rate of 500 dollars

Business Response: Initial Business Response /* (1000, 8, 2015/04/27) */ Dear Mr. ********, The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 4/30/2015. Thank you for giving us the opportunity to address your concerns. We regret that you were loan was denied and that your experience was less than satisfactory. By now you should have received your Denial Letter detailing the reason we could not move forward with your application. If you have not received this letter or have questions regarding its contents please reach out to us at your earliest convenience. Also, we have looked into your case and regrettably we cannot compensate you for your lost earnest money. Our investigation determined that we followed the proper lender guidelines and government regulations with your file. We did send you a Conditional Approval, but not a Loan Commitment Letter which is the final step in the approval process We can truly appreciate your frustration and hopefully the seller will be willing to work something out with you. If you have any additional questions or concerns, please feel free to contact the Customer Care Hotline (XXX-XXX-XXXX) at your earliest convenience. Respectfully, ****** B ****** Vice President of Client Satisfaction

5/6/2015 Billing/Collection Issues | Read Complaint Details
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Complaint: Their VP contacted ME saying it was a good time to re-finance. I asked what I thought was all the right questions: how much would we save, what would it cost and how soon could it be done. I was told it would be "about" a month and it took TWO. ((part of this was blamed on 1 of their employees having to SUDDENLY take maternity leave and that they were unprepared for that to happen))In the underwriting process we received a "approval with CONDITIONS" and even after those conditions were met they continued to request additional documents be initialed on 3 to 4 different occasions, SAME document...requested letters as to WHY we moved from a previous home....requested a letter from my husbands boss as to WHY his pay rate was different on each check because the underwriter didn't seem to understand that some people are paid on a commission type basis, requested multiple documents AND a letter from us as to WHY a deposit into our checking account was an EVEN amount.... ((also more delay because they asked for copies AGAIN from our bank account and even tho I sent those immediately there was more of a delay because they had to request them again because they needed the EMPTY pages at the end of the bank statement))Each time that each of these requests was made I was told AGAIN that it would be just a couple more days until closing and then each time we went into another week. All along the process I was told we would receive just a FEW dollars back at closing. Less than 5 minutes before the actual closing we were told there was a mistake on the closing papers and that we suddenly had to have $1500 for the closing to take place otherwise the process had to started over completely to then change the loan amount to fold that amount into it. Very convenient that our closing date took us right up to the only day we had left that allowed for the 3 days of cancellation and allowed the loan to be FUNDED on the LAST DAY that our payoff information was valid from our then current Mortgage. All that said and done......Re-finance closed and funded and days later I am asked for MORE DOCUMENTATION because now they are having trouble SELLING the Loan because they don't have the documentation the need for the company attemptimg to BUY the loan. These again were papers that they had received from me weeks before but for some reason they could not be located. This is the WORST transaction or dealing that my husband and I have EVER had on a Mortgage Loan! Additional information submitted by consumer on 04/27/2015; ******* ****** has called me today, APril 27, 2015 to say that Guaranteed Rate will do nothing for us. I called their Customer Service Department over 2 weeks ago and this is the first time I have spoken with anyone. It's not until we filed this complaint have I actually spoken with someone.

Desired Settlement: We expected to receive a small amount of cash back and instead had to pay $1,500.00. It was their error in somehow not including our Homeowners insurance in the totals as well as some sort of Mathematical error (words of their VP) in the escrow dollars as a whole ..those 2 errors came to over $1,350....and that came to my husband and I being told the Re-finance could not be closed unless we paid $1500.

Business Response: Initial Business Response /* (1000, 7, 2015/05/04) */ Dear Mr. & Mrs. ********, I wanted to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 4-24-2015. Thank you for giving us the opportunity to address your concerns as your business is very important to us. The delays you experienced were caused by Guaranteed Rate with the main causes being a staffing issue (maternity leave, poor backup) and high volume created due to low interest rates. We regret that your experience was less than satisfactory and have sent you $250 in gift certificates to compensate you for your frustration and stress. If you have any additional questions or concerns, please feel free to contact the Customer Care Hotline (XXX-XXX-XXXX) at your earliest convenience. Also, you have also filed a complaint with the Iowa Division of Banking to which we responded in great detail. I've gone ahead and attached the response from our Compliance Department for your records. Respectfully, ****** B ****** Vice President of Client Satisfaction

4/23/2015 Advertising/Sales Issues | Read Complaint Details
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Additional Notes

Complaint: On 1/16/2015 I was charged a late fee (account #XXXXXXXXXX) by Guaranteed ******** because they claim they "accepted payment" on 1/22/2015, after the 1/16/2015 deadline for the 1/1/2015 bill. Guaranteed Rate also claims they "process" payments as soon as they receive them. However, the payment was sent by my bank (online bill pay) on 12/23/2014. This means that Guaranteed Rate did not process/receive the payment for 30 days (18 business days). Since Guaranteed Rate does not consider the postmark date of the payment nor the date the check was cut, they are in a position that can claim any date they desire to have "received and processed" the payments. To their credit, of the last 24 payments I have made their reports indicted 14 of them have been processed in 3-5 business days and five of them have taken 6-8 business days. However, five of these payments have taken over 10 business days to be processed. The first time I was aware of this exorbitant amount of processing time was when I was assessed my first last fee on 10/16/2014. They described the payment as being "accepted" after 16 business days from when the check was cut and sent. Their resolution was to 1 waive the late fee since it was my first one and 2 advised me to send the checks to a different address - the one reflected on the payment coupon they mail to me that usually arrives after the 21st of each month. The next time a late fee was incurred was 12/16/2014, when they claimed my payment was processed on 12/17/2014, which was 13 business days after the payment was cut and sent. Without my involvement, they did waive the late fee on 12/17/2014. After I learned the late fee was assessed on 1/16/2015, I sent them a secure message on 1/25/2015 asking them for their partnership on how to prevent this from happening in the future. Since I received no response, I called Guaranteed Rate and talked to representative, ******, who told me that there was nothing she could do to waive the late fee, but gave me another address to send my payments to that might have quicker processing (so far it has). She advised me to fax the company in order to get the late fee waived, which I did on 2/3/2015. On 2/14/2015, I received a secure message response from Guaranteed Rate where they declined to waive the late fee and suggested I allow 7-10 business days for my payment to arrive from my bank. I have no problem with a 7-10 day time frame. It is unacceptable for payments to take over 10 business days! I called Guaranteed Rate on 2/18/2015 and talked to representative, *******, and her supervisor, *******. He indicated that we could not prove they received the payment any earlier than they report unless we sent the payments by certified check. Their only suggestion was to enroll in auto-draft payments and indicated that they would elevate our situation to their research department to analyze if the late fee could be waived. On 2/20/2015, Guaranteed Rate sent a letter indicating they reviewed the case and that the late charge is valid, denying the waiver. The ability of Guaranteed Rate to choose any date they'd like to mark the payment "accepted" is reckless and pretty much guarantees they can milk their customers for as many late fees as they'd like without consequence. This tactic is subject to abuse, and without prevention of such abuse it is purely a scam to enact whenever they see fit. Since the discovery of this January late fee, I have been setting up my payments to be sent to them 20 or more business days before their late fee deadlines but I still feel vulnerable to their scam.

Desired Settlement: Cancellation of the late fee assessed on 1/16/2015.

4/17/2015 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: $4004 for the payment we will have to make april 1st because he switched the deal at close as well as cash at close was quoted to be $5000 more than we recieved - it was because his company prepared the final hud estimate according to title 365 and that closing hud was incorrect by another $5000. I called him that night and he made up an answer and has changed his sory 3 times since then, refusing to admit they made a mistake on the payoffs and that he now doesnt have the authority to make our first payment dye May first when he promised that all along the 3 month process we had to close our loan. So I am getting $5000 less than promised on the NOTORIZED FINAL HUD Document at close but he switched the first payment from May first to April 1st

Desired Settlement: $4004 for the extra payment we will have to make April 1st because he switched the deal at close after at least 5 different conversations he quoted the first payment fue May 1st. Cash at close was quoted to be $5000 more than we recieved according to title 365 that incorrect HUD wasprepared by guaranteed rate and was incorrect

Business Response: Initial Business Response /* (1000, 8, 2015/04/06) */ Dear Mr. *****, The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 3-19-2015. Thank you for giving us the opportunity to address your concerns as your business is very important to us. Guaranteed Rate prides itself on client satisfaction and we regret that your experience has been less than satisfactory. We have credited you the first month's payment of $4,004 (the amount in dispute) because your first month's mortgage payment which was setup for the incorrect date (it was setup for 4/1/2015 vs. 5/1/2015 which was 1 month too early). We apologize for the unintentional mistake, our goal is 100% customer satisfaction. This should resolve the issue to your satisfaction, but if you have any additional questions or concerns, please feel free to contact the Customer Care Hotline (XXX-XXX-XXXX) at your earliest convenience. Respectfully, ****** B ******

4/14/2015 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: this was an attempted refinance of a property we currently own. Mortgage company denied the refinance because they do not refinance this type of ******** property. apparently in their due diligence they failed to check what type of condo this was. the employee ordered an appraisal anyway and charged our credit card. I am seeking a refund of the appraisal fee of $795.00 I asked the broker how he could order an appraisal without first checking what type of property this was. he is located in Hawaii and is aware of the volume of ********s throughout the islands. He has ignored my appeal for the refund. His name is ******* ****. His superiors have also not responded. they are ********** and **************. I am filing this complaint to hopefully prevent others from being ripped off by the same bunch of brokers

Desired Settlement: We had attempted to refinance a ******** we currently own. This company was recommended to us on our mortgage statement. Our refinance was denied based on the fact that they do not refinance this type of property. In the due diligence process and credit application we of course listed the property address to be refinanced. the broker apparently didn't notice what type of property this was and went ahead and ordered an appraisal and charged us $795. for this process. I am seeking a refund of this amount. ******* **** and his superiors **** ***** and ****** ******* have all ignored my refund request and the request from the customer service dept at Guaranteed Rate. this has been going on for 4 months now. They have now trashed my credit as this is showing as an outstanding balance on my credit card. I am filing this complaint to hopefully prevent others from being ripped off from these same brokers.

Business Response: Initial Business Response /* (1000, 8, 2015/03/31) */ Dear Mr. *******, The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 3-10-2015. Thank you for giving us the opportunity to address your concerns as your business is very important to us. Guaranteed Rate prides itself on client satisfaction and we regret that your experience has been less than satisfactory. We have agreed to a partial refund of your appraisal fee in the amount of $500. A check is being sent out via UPS this week. If you do not receive this check be Friday April 3rd, please reach out us so we can investigate the issue. We regret any dissatisfaction you experienced with the loan process. If you have any additional questions or concerns, please feel free to contact the Customer Care Hotline (XXX-XXX-XXXX) at your earliest convenience. Respectfully, ****** B ****** Vice President of Client Satisfaction Initial Consumer Rebuttal /* (3000, 10, 2015/04/01) */ (The consumer indicated he/she DID NOT accept the response from the business.) In finally speaking with the regional manager, it seemed to me that if I didn't accept a lessor amount than what was owed to me that I may have received nothing at all. Since this is a lot of money to me, I used the thinking that something is better than nothing here. In reality I would have liked all of the amount $795.00 but apparently this is not to be.

4/7/2015 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: Worked with *** ********** He told me on numerous occasions that he had a "really good feeling" about our mortgage refinance. After giving him every possible detail of my life, he said he would get us into 15-yr note with a lower interest rate, and that he would wrap my credit card debt and car note into the refinance. Shortly thereafter I was paying $1,000 for an appraisal I wasn't sure I needed and for a loan feeall of this charged to my credit card and collecting interest. The final outcome from all this was that *** offered me a 30-yr mortgage at a higher rate than I already had. Why on Earth would anybody take that? Was this whole thing just a scam to get some fees out of me and move on to someone else?

Desired Settlement: Return my $1,000 to me.

Business Response: Initial Business Response /* (1000, 5, 2015/04/06) */ Dear Mr. *****, The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 3-30-2015. Thank you for giving us the opportunity to address your concerns as your business is very important to us. Guaranteed Rate prides itself on client satisfaction and we regret that your experience has been less than satisfactory. It's my understanding that you and your LO (***** ********** have been able to come to a satisfactory agreement, where Guaranteed Rate will be refunding your deposit, the appraisal fee, and the appraisal fee (approx. $550). This should resolve the issue to your satisfaction, but if you have any additional questions or concerns, please feel free to contact the Customer Care Hotline (XXX-XXX-XXXX) at your earliest convenience. Respectfully, ****** B ****** Vice President of Client Satisfaction

2/2/2015 Advertising/Sales Issues | Read Complaint Details
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Complaint: On may 9th *** took out $447 out of my account for a secondappraisal. Prior to that he told me I couldn't get the first loan but guarantees me I can get it by going another way. I told *** that I will not pay for a second appraisal. I told him that I did not have the money. He assured me that I didnt have to worry about it. I did not sign any papers or gave him authorization to take any money out of my account. My daughter spoke with *** on my behalf about 6 months ago and she told him that she wanted him to email him showing both times that I signed for appraisal. He got upset and said when he can find the papers he would. He never did. My daughter spoke with *** today over issue and he told her that the my bank advised him not to talk with her. She told him that she just spoke with ***** at teachers bank and ***** told her that she has been fighting with *** but *** will not show any documentations and there was nothing more she could do. Tom has lied to me, my daughter, and my bank. All I want is my money back. Im on a fixed income and *** robbed from me. Contact my daughter she will speak on my behalf.

Desired Settlement: 447

Business Response: Initial Business Response /* (1000, 8, 2015/01/21) */ Dear Mrs. *******, Thank you for giving us the opportunity to address your concerns. The Sales Manager ***** ******* w/XXX-XXX-XXXX) who managed the application will be contacting you shortly. He will walk you through the legitimacy of the billing so that you better understand it. We regret any frustration your family experienced with the process. If you have any additional questions or concerns, please feel free to contact the Customer Care Hotline (XXX-XXX-XXXX) at your earliest convenience. Respectfully, ****** B ****** Vice President of Client Satisfaction

11/10/2014 Problems with Product/Service | Read Complaint Details
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Complaint: I requested the credit report they used to deny my mortagage and after numerous requests via email and voice mail, ************* has not sent it. By Real Estate law they must send me the report when requested.

Desired Settlement: I want the credit report that I requested.

Business Response: Initial Business Response /* (1000, 5, 2014/11/03) */ Dear Mrs. ******, We can definitely send you the credit report used to make your loan decision. Please contact ************@GuaranteedRate.com and we'll coordinate the transaction. Regards, ****** B ****** VP - Client Satisfaction

11/7/2014 Problems with Product/Service | Read Complaint Details
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Complaint: Although I fall well within the generally understood guidelines for loan to value and credit/payment history, Guaranteed rate force it's customers to escrow their real estate taxes. Since I originated my mortgage with them a couple of years ago, they have miscalculated my taxes from day one and continually forecast into the future and ask me for more money to add to my own. Once again, nothing in my history or in my proven financial solvency suggests that I need real estate tax escrow. This practice should be disclosed up front and would have impacted my decision to use them as my lender

Desired Settlement: Allow me to pay my own real estate taxes and refund my escrow account to me

Business Response: Initial Business Response /* (1000, 8, 2014/10/27) */ Dear Mr. ********, I wanted to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 10/15/2014. Thank you for giving us the opportunity to address your concerns as your business is very important to us. We are investigating this issue and will make live contact with you by 10/31/2014. Guaranteed Rate prides itself on client satisfaction and we regret that your experience has been less than satisfactory. If you have any additional questions or concerns, please feel free to contact the Customer Care Hotline (XXX-XXX-XXXX) at your earliest convenience. Respectfully, ****** B ****** Vice President of Client Satisfaction

10/24/2014 Problems with Product/Service | Read Complaint Details
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Complaint: I started this loan process April 4 2014. I provided all the docs to them they requested 4/9/14. I talk to sales person ***** ******* and he confirmed that he received all my docs. After that every week I received an email from his staff mainly ******* about more documents. I alway gave them everything they asked in timely manner and in some cases same docs multiple time because they are so unorganized and can't find things when they need them. This went on for 3 months.On June 12 2014 they asked me for more info which I provided same day. Two weeks went by no answer again so I called ******* and she said closing should be in week or so. I called them multiple times after two week to get the status and no one called me back. I called ***** ******* direct and he said they didn't tell you need to pay off your second mortgage. I responded no one ever told me that in past 3 month and ******* told me two week ago we are ok to close. Quickly he raised his voice and said I am very busy call me later I have other clients on the line. I told you you have to pay off your second mortgage. This really ****** me off and I hung up the phone. This is the kind of customer service you get when you do 6 mortgages in past ten years with same person and unlimited references. If he would have come me and said ***** we need to pay off this lousy $8000 second mortgage to get this done I would not have an issue. Now they have an audacity to bill me for $450 fee for their services. They should be paying me for waisting my time and not getting the job done in timely fashion. I will never do business with Gaurantee Rate and ***** ******* or recommend anyone.

Desired Settlement: They need to reimburse me for my time and service fee they are charging me. I had to start this process all over again which also caused interest rate to go up.

Business Response: Initial Business Response /* (1000, 5, 2014/10/10) */ Dear Mr. *****, The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 10/1/2014. Thank you for giving us the opportunity to address your concerns as your business is very important to us. We've reached out to your loan officer (***** ********* to discuss your issue. He'd like to talk to you directly about your complaint. He's stated that he's reached out to you several times, but you refuse to take his calls. We believe that there's simply been a miscommunication between our team and you; we'd like to walk you through it. We respectfully request that you give ***** 10 minutes of your time to resolve this issue. We apologize for the dissatisfaction you felt during your last loan experience. Please contact the Customer Care Hotline (XXX-XXX-XXXX) at your earliest convenience, so we can set up a time for a call with ***** ********* Respectfully, ****** B ****** Vice President of Client Satisfaction

9/22/2014 Problems with Product/Service | Read Complaint Details
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Complaint: As any wise potential homeowner would, we shopped around with several mortgage companies before choosing to go with Guaranteed Rate. After completing a partial application, we were given preliminary information from Guaranteed Rate including loan terms and other information. We were told that we would receive a $1000 lender's credit at closing. This was part of the reason why we chose to use Guaranteed Rate to service our loan. After applying and receiving the Good Faith Estimate (GFE), we noticed that the $1000 lender's credit was not listed. I spoke with my loan officer, ***** ********, and asked why the credit was not listed. I was told that the credit could not be listed on the GFE for "regulatory reasons". I was also told that unless something "fundamentally changed" on our file, we would definitely get the $1000 credit. I thought this sounded strange but I accepted his response. On the evening before closing, I received the HUD-1 settlement paperwork. I immediately noticed that we were only receiving $554.63 of the promised $1000 lender's credit. I immediately contacted my loan officer and was told that we were "only approved" for a credit of that amount. I made my disapproval known to my loan officer but didn't want to jeapordize the closing as it was the next morning. At no point in the application process were we made aware that our application or file had "fundamentally changed" or that we would not be receiving the $1000 credit. This seemed like a classic "bait and switch" situation and was not acceptable. I chose this company because it seemed to have a good reputation. There were other false promises and challenges throughout the process as well, but this was the most significant. Unfortunately, Guaranteed Rate didn't live up to its reputation for us.

Desired Settlement: 445.37. This amount would make the lender's credit total $1000, which is the amount we were told we would receive.

Business Response: Initial Business Response /* (1000, 5, 2014/09/10) */ Dear Mr. ******, The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 9/3/2014 and thank you for giving us the opportunity to address your concerns as your business is very important to us. We agree that a credit was missed and apologize for the oversight; we have already sent a check for $268 via *** overnight. If you have any additional questions or concerns, please feel free to contact the Customer Care Hotline (XXX-XXX-XXXX) at your earliest convenience. Respectfully, ****** B ****** Vice President of Client Satisfaction

9/15/2014 Problems with Product/Service | Read Complaint Details
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Complaint: 1. Took $400 for appraisal on 3/24/14 2. Signed rate lock agreement shortly after. 3.125% for 7/1 ARM. 3. Loan approved on 8/1/14. 3.125% with 2.15 discount points for a 7/1 ARM confirmed via email on 8/4/14. 4. Possible bait and switch on 8/6/14. Broker misread the rate sheet. Rate is 3.75% for 7/1 ARM with 1.9 points even though rate listed on the lender ********** web site is still 3.125% for 7/1 ARM. My credit score is over 800 and my property value is $500,000 and loan amount is $184,000. I qualify for the best rates.

Desired Settlement: 1. Paid $400 on 3/24/14 2. Was "approved" and signed rate lock agreement at 3.125% for a 7/1ARM in April. 3. 8/1/14 approved with ******* at 3.125% for 7/1 ARM with 2.15 points. Paid $850 certified check. 4. 8/6/14. Possible bait and switch. Told they made amistake3.75% for 7/1 ARM with 1.9 points even though ********** published rate for 8/6/14 still 3.125% for 7/1ARM. My credit score is over 800 and property appraised at $500,000. Loan amount $184,000. Sufficient equity. I qualify for best rates. I was locked for 5 months, they strung me along, then did a bait and switch.

Business Response: Initial Business Response /* (1000, 8, 2014/09/03) */ Dear Mrs. *******, The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 8/7/2014. We regret the dissatisfaction you experienced during your loan process. I can assure you that there was no bait-and-switch with your loan. There root cause of the issue is the fact that that your property was non-warrantable, so we could not give you the same rate as you could get by going directly to ******** Also, a key contributor to the delays was the fact that your homeowner's association was not timely in their response to our requests. Guaranteed Rate prides itself on client satisfaction and we truly regret that your experience has been less than satisfactory. If you have any additional questions or concerns, please feel free to contact the Customer Care Hotline (XXX-XXX-XXXX) at your earliest convenience. Respectfully, ****** B ****** Vice President of Client Satisfaction

9/5/2014 Advertising/Sales Issues | Read Complaint Details
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Complaint: We have refinanced our home mortgage using **** ******* and his team from *** ****** ** on 7-9-2014. When I applied, Mr. ******* promised me that my application will be done in less than 30 days. It lasted over 65 days and even after closing they have asked for more documents and signatures for two weeks. Just 48 hours before the closing they presented me with a charge of $1,164 for extension of the interest lock. Once I called to ask if such delay was our fault, **** ******** explained me that it was not our fault and that the delay was caused by subcontractors they used. Based on my experience, such delay is also caused by their internal disorganization as well. Since I was presented with option to pay $1,164 or there would be no closing, I had no option but to pay hoping that they would justify the charges. Mr. ******** tried to justify the charges, but the numbers didn't match his story and the closing settlement statement. Once I asked Mr. ******* and Mr. ******** to document that it was our fault for the delays they stopped responding to me.

Desired Settlement: Since the Guaranteed Rate were not able to document that the delay was our fault, I request that they reimburse us in the full amount of $1,164.

Business Response: Initial Business Response /* (4000, 9, 2014/08/24) */ Dear Mr. ******, The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 8/11/2014. Thank you for giving us the opportunity to address your concerns as Guaranteed Rate prides itself on client satisfaction. Unfortunately, we will be unable to provide the refund requested. This decision was based off the following: A) you were educated on the rate lock extension parameters and were given ample time to research other options/lenders and chose to continue working with us. B) During the rescission period (when you could have legally opted out of the transaction) and you chose not to opt out; we were in daily contact with you during this period. There were delays created by Guaranteed Rate and we picked up several charges to compensate for that mistake. We truly believe we've operated in good faith and regret any frustration you experienced with your loan process. If you have any additional questions or concerns, please feel free to contact the Customer Care Hotline (XXX-XXX-XXXX) at your earliest convenience. Respectfully, ****** B ****** Vice President of Client Satisfaction

8/29/2014 Problems with Product/Service | Read Complaint Details
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Complaint: Mortgage for *** W. ***** St. Unit 1 I submitted an online application for a new purchase mortgage on March 27, 2014. I then talked with **** ***** to discuss my options, and I received a pre-approval letter on March 31. It was approved for up to a sale price of $400,000 with 5% down. I was also comparing rates and service with other mortgage companies while I looked for a house. I contacted **** on April 12 because I was interested in putting an offer on a condo. I wanted to make sure that there would be no problems with getting approved for a loan, and I specifically asked about whether there would be a problem with getting PMI insurance because a couple of other lenders said that I should check. On April 14, I received an email from **** on March 14 that said: "I checked with the PMI companies and you are all good to go we can get you coverage." Based on this information, I went under contract with a seller for a condo and decided to work with Guaranteed Rate. I submitted all of my information, application, and documents by April 22d. The appraisal was completed on April 30. We had a May 13th mortgage contingency in the sales contract, so I asked to get the approval by then. I subsequently received my commitment letter on May 14 with one conditionto submit an explanation of the sale of my previous house in 2010. I sent the description on May 15. I remember that morning well, because I purposely went to work that morning to send the letter even though I had to drive to ******** because my father just had a terrible accident and was going into surgery. I look back at that time and get angry, because I put everything aside to get the letter to your company immediately, and you guys didn't even look at it until right before the closing. A few days later, I called **** and asked if there were any issues, and he said no. I called again a week later to see when I would get my clear to close, and he still said that he hadn't heard if there were any issues, so the clear to close should be done soon. On the afternoon of Friday May 30th, I got a call from **** saying that there was a problem getting PMI insurance (even though he said that it wasn't going to be a problem when I first decided to go with Guaranteed Rate, which is one of the main reasons I chose the company). He said that the underwriters gave it a clear to close for the mortgage, but the PMI insurance company required that I put down another 5% because my last house sale was a short sale. My short sale is obvious on my credit report and I mentioned it to all of the lenders I contacted so I was getting the most complete information before going forward with a purchase. By May 30 (over 2 weeks past the time I submitted the information for the condition on my approval), I had no options but to potentially lose the $18,000+ money I put down on the property. I therefore had to withdraw money from my retirement account so I would not have to lose that earnest money. I submitted all of the paperwork to show that I had the additional 5% on June 3 (Tuesday). It didn't clear until June 10. I have now reviewed my HUD statement and I discovered two charges that should not have occurred. First, Guaranteed Rate gave me a mortgage rate that was guaranteed until June 11. Our initial closing date was June 13, and **** said that I would pay $70 per day to keep the rate. I then decided to change the closing to June 11. We closed on June 11, the last day of my guaranteed rate, but I was still charged $140 dollars ($70 per day, based on the wrong closing date). I was also charged on my HUD an appraisal fee that was already charged to my credit card. That charge was $300. In sum, the following are the costs that were caused by Guaranteed Rate: $1090 for terrible service $140 for incorrect closing date $300 for appraisal $14,000 for misinformation about PMI (tax and penalty for taking money from retirement account).

Desired Settlement: In sum, the following are the costs that were caused by Guaranteed Rate and should be refunded: $1090 for terrible service $140 for incorrect closing date $300 for appraisal Additionally, Guaranteed Rate caused me to spend $14,000 for the misinformation **** ***** gave me about PMI that induced me into working with Guaranteed Rate (tax and penalty for taking money from retirement account). If **** would have told me at the beginning that I needed another 5% (approximately $18,000), I would have bought a cheaper house or taken extra work at my job to cover the cost. Instead, I was put into a situation where I had no choice. Because Guaranteed Rate didn't tell me that I would have to put down 10% (instead of 5%)until after the mortgage contingency, I had to either lose the 5% I already had put down or take money from my retirement account. This will cost me approximately $14,000 in taxes (at 33% because the amount I withdrew put me into the higher tax bracket) and a 10% penalty. These costs could have been avoided if **** told me at the beginning that I would need 10%.

Business Response: Initial Business Response /* (1000, 8, 2014/07/07) */ Dear Mr. **********, The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 6-23-2014. Thank you for giving us the opportunity to address your concerns as your business is very important to us. We apologize for the changing closing date and will be refunding the $140 requested. Unfortunately, we will NOT be refunding the appraisal fee because A) we only collect the appraisal fees for the appraisal company (i.e. received no revenue from this transaction) and B) you received the appraisal service (i.e. got the service requested). Also, all other requests for compensation will NOT be honored as your loan was processed in accordance with the committed pricing and timing. The "misinformation" cited in your complaint stemmed from a lack of a complete disclosure during the application process (i.e. involved a short sale). The property was a short sale, thus it required a higher down payment per underwriting guidelines. Had the short sale information been included in the application process, you would not have had a change in down payment requirements. We hope that this puts this matter to rest. If you have any additional questions or concerns, please feel free to contact the Customer Care Hotline (XXX-XXX-XXXX) at your earliest convenience. Respectfully, ****** B ****** Vice President of Client Satisfaction Initial Consumer Rebuttal /* (3000, 10, 2014/07/21) */ (The consumer indicated he/she DID NOT accept the response from the business.) I appreciate you correcting the error with the closing date and additional charges. I received your check for $140. However, I think you misread the statement about the appraisal. I am not questioning the charge for the appraisal. I agree that I should pay that fee. I was just stating that I think you charged me twice for the appraisalonce on my credit card and again on the HUD statement. The idea that the company wasn't aware of my short sale until May 30 (when they informed me of the problem with the PM insurance) is not based in any fact. First, I told **** ***** about the short sale when I first talked with him. I did that with every company I contacted. After talking with another mortgage company, they told me they couldn't give me PM insurance because of the short sale. That is the reason I called **** ***** on April 12 asking him if I would have any problems getting PM insurance. He told me PM insurance was not a problem on April 14. Based on this information, I placed an offer on the house. I would not have immediately placed an offer on this house if I were told that I needed 10% down to get PM insurance. I would have seen if I could raise the additional 5% or looked for another house. I had no plans to take out money from my retirement account because of the taxes and fees. Let me be clearI was very open about my credit with every mortgage company because I wanted to avoid any surprises (like the one that happened with Guaranteed Rate). Second, by providing me an initial approval, I know that the company pulled my credit reports because **** referenced them in my discussions with him. He outlined my debt and credit scores. These credit reports clearly show that the sale of my previous house was a short sale or something equivalent because they reflect a "charge off " or settlement for the amount owed. Any reasonable loan officer knows this, as every other company I contacted saw this on my credit report and referenced my short sale. At the very least, your company was negligent in reviewing my credit report before offering me an approval letter that stated that I was approved with only a 5% down payment. Finally, Guaranteed Rate gave me a conditional approval on May 14 that asked for a description about the sale of my previous property. It didn't mention anything about problems with PM insurance, and **** didn't say anything about problems with PM insurance. I asked **** if there was a problem with the loan because of this condition, and he said that they just needed a description of my previous sale for my file. I promptly provided that letter on the very next day. If I was told that there was a problem with PM insurance when I received the conditional approval letter, I still would have had time to back out of the sale (we got the mortgage contingency extended three days because Guaranteed Rate didn't meet the initial mortgage contingency date that they promised to me). Overall, there were three times that Guaranteed Rate should have told me about the PM insurance issuewhen I told **** about the short sale, when he (or others) first reviewed my credit report, and when I received my conditional approval on May 14. Unfortunately, I was not told about the PM insurance problem UNTIL May 30, beyond any time where I could have done something that wouldn't have caused me any financial injuries. Because of Guaranteed Rate's actions, I have to pay over $14,000 in taxes and penalties that would have been avoided if the company acted properly. I also take issue with the statement in Guaranteed Rate's response that they provided me with the committed "pricing and timing." Guaranteed Rate did not provide me with the product that they offered and I accepteda loan with a 5% down paymentwhich was material to the whole transaction. In fact, the entire process was full of unfulfilled promises and terrible service. Here is just a partial list of additional problems besides those already detailed in my complaint and this response: 1. My closing was scheduled at 3 pm, and the paperwork was not at the title company until 4 pm. 2. Guaranteed Rate called my employer around 5 pm on the DAY OF THE CLOSING (2 hours after the closing was to begin) to verify my employment. Coworkers tell me that they received a call from Guaranteed Rate that day even though I never listed them as contacts. I only listed a person from our human resources department. This alone violated the confidentiality one would expect from a mortgage company. 3. Nobody was able to give me an accurate amount for how much money I needed to bring to the closing. **** thought I should bring about $30,000, but this was far beyond the $18,000 I actually needed. The title company could not tell me because nothing was sent from Guaranteed Rate until almost 1 hour after the time the closing was suppose to start. 4. I began my application 55 days before the closing, but I did not have a clear to close until the day before the closing (less than 24 hours before I closed). You claim that you can close a loan in 30 days, but you had 55 days to close my loan. If you had done all of the work within 30 days, we wouldn't have had any of these problems. 5. Your customer service department was extremely rude when I tried to determine when I was going to have the clear to close. I talked with them on June 6. Allison Murphy called me and told me that they will have it closed within a day or two. She told me to call her if there were any problems. After I contacted customer service, **** called me and told me that they would have my loan clear to close by the morning of June 9. I called ******* on June 9 and 10 to complain that they I still didn't have the clear to close. Her rude response was: "What do you want me to do about it?" Overall, this entire process was the worst customer service I have had from any company in my entire life. What was supposed to be a happy time was unnecessarily stressful and difficult because of Guaranteed Rate's poor customer service. Guaranteed Rate is solely responsible for the financial loss I suffered from this transaction and should reimburse me for those costs that I would not have had if they had acted properly. Further, they do not deserve the loan-processing fee because of the terrible service they provided. I would be happy to send the company all of the email communication I had with Guaranteed Rate that support my claims. Final Business Response /* (4000, 17, 2014/08/29) */ Dear BBB, As requested, I'm providing evidence that the borrower did NOT get double charged for their appraisal. I've attached a copy of the HUD which documents all of the financial transactions involved with the loan. This is a required legal document regulated by the CFPB. If you look at line #804 on page 2, it clearly states that $300 was paid to "FOR WHATS ITS WORTH REAL ESTATE APPRAISAL". This is a typical amount and it clearly states that this money went directly to the appraisal company "FOR WHATS ITS WORTH REAL ESTATE APPRAISAL". I hope this helps to close this complaint, but please contact me w/questions or concerns. Regards, ****** B ****** VP - Client Satisfaction

8/5/2014 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: *** ********, our loan officer, participated in a bait and switch undocumented modification of our loan rebate terms on the transaction's closing day. An initial offer was made for a 20% down loan that included a $4,300 lender rebate. The loan application was modified to provide 25% down (to appeal to the seller in a competitive market). This did not affect the loan rate or rebate. The rebate amount was listed on the loan application form, but not on the GFE. Subsequently the loan was modified back to 20% down. In a verbal discussion and in email no mention was made of a change in the loan terms. The terms of the original 20% down offer, including the rebate and excluding the total loan amount, were exactly the same as that of the 25% down offer. The loan modification documents did not contain an updated loan application form, nor made any mention of a change in the rebate amount. The APR cited on the updated GFE was lower than the orignal GFE, and not betraying any change in offer loan rebate. Nor did the rate lock agreement make any mention of a change in terms, it was all in line with the original loan proposed. On the day of closing, we enquired why the rebate was not credited to escrow in the closing costs, and after pushing the loan officer to find out what had happened. At first the loan officer stated he didn't know what had happened and would look into it (which contradicts the events he later claimed in the ultimatum email.) We then later recieved a carefully crafted ultimatum email from him stating that the loan had been modified and there would be no rebate. Shocked, we asked to escalate this to his management. We were advised that escalating the complaint would cause management at the company to put a 'hold' on the loan, likely meaning we'd lose the loan and the house. We finally received an email from the loan officer stating that, though they had not provided us with updated documents to sign indicating the loan application had been changed, this was their final offer and to take it or leave it. In addition, at this point, delays solely at the cause of the loan brokerage (which the officer admitted in this final email) ended up costing us $586 in per diem costs to extend the contract with the buyer. Not wanting to lose the house and paying per diem fees for each day of extension, we took the offer, but feel we were defrauded and then held hostage by the brokerage issuing an ultimatum, having found out about this issue only at the very last moment, not having any indication in any signed document, and with seemingly no recourse. The arguments put forth in the ultimatum email from the broker don't hold up to some basic logic. Statements like 'Neither of those forms showed any lender credit on them', are a red herring arguments, as these forms only included updated GFE documents, and not updated loan applications, which is the document the broker claims indicated the presence of absence of a credit. You can't have it both ways. The officer also claims to have discussed the change in loan terms verbally with myself earlier in the proces, which is a falsehood. It was clearly a coverup, given that when we had enquired earlier in the day, the loan officer didn't say "remember when we talked about this", but said "Let me check on that". Then we got the email. This matter has also been brought to the attention of the Federal Consumer Finance Protection Bureau.

Desired Settlement: Credit of the $586 in per diem fees needed to extend the purchase contract due to Guaranteed Rate's lack of timliness and a credit of the original $4,300 indicated in the loan documents we actually signed.

Business Response: Initial Business Response /* (1000, 16, 2014/08/04) */ Dear Mr. ****, The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 7-28-2014. Thank you for giving us the opportunity to address your concerns as your business is very important to us. Guaranteed Rate prides itself on client satisfaction and we regret that your experience has been less than satisfactory. We have made several attempts to make live contact with you and have been unsuccessful, so we have gone ahead and escalated to our Compliance Department. If you have any additional questions or concerns, please feel free to contact the Customer Care Hotline (XXX-XXX-XXXX) at your earliest convenience. Respectfully, ****** B ****** Vice President of Client Satisfaction

7/22/2014 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: ****** ****** of Guaranteed Rate mortgage is extremely dishonest. I had filled out a online loan application for which $125 was going to be credited at closing. Never got it. ****** doubled the loan origination fee at closing, from what the truth in lending statement had said. He payed me that back out of his personal checking account. He said we were ready to close on time when he hadn't even sent the paperwork to underwriting. We were over two weeks late by the time it was said and done. Now that his company sold the loan, it turns out he started my escrow with only $400. Even though the $1300 summer taxes were due before the first house payment. It was also nearly impossible to get him to answer his phone, and it would take him days to return the call. That is even if you could leave a message, since his voice mail was full more often than not.

Desired Settlement: The $125 from the online loan application. The $1300 escrow shortage reimbursed, or rolled into my mortgage. Also to protect others from making the mistake of using ************* as any loan.

Business Response: Initial Business Response /* (1000, 8, 2014/07/07) */ Dear Mr. *******, The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 6-18-2014. Thank you for giving us the opportunity to address your concerns as your business is very important to us. We regret any confusion or frustration that the post-application process (escrow) has created for you. Customer Care (****** ******* has spoken to you on the phone and it appears that your issue is actually with ******* Title rather than Guaranteed Rate. Please make contact with ******* Title to resolve your escrow issues. We are here as a resource if you are unable to resolve the issue with ******* Title. If you have any additional questions or concerns, please feel free to contact the Customer Care Hotline (XXX-XXX-XXXX) at your earliest convenience. Respectfully, ****** B ****** Vice President of Client Satisfaction

7/10/2014 Problems with Product/Service | Read Complaint Details
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Complaint: I have emails to verify all of this. We were promised a rate on our mortgage. We were going to the home buying process with no unusual events occurring. They raised the rate they were giving us because they claimed we said the deal was off thus releasing them from the agreed upon rate. We never said that. We told them that we had an inspection and had requested the seller make some repairs. The seller did so. THe deal was never in question.

Desired Settlement: Lower the rate on our mortgage and refund us whatever interest we incurred due to the increase. Fire the salesperson (*********) who raised the rate. Or give us $25,000.

Business Response: Initial Business Response /* (1000, 5, 2014/06/17) */ Dear Mr. ******, The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 06-16-2014. Thank you for giving us the opportunity to address your concerns as your business is very important to us. The Customer Care team has already made live contact with you in the hopes of better understanding your concerns and finding an acceptable resolution. We will remain in direct contact until the issue is closed. If you have any additional questions or concerns, please feel free to contact the Customer Care Hotline (XXX-XXX-XXXX) at your earliest convenience. Respectfully, ****** B ****** Vice President of Client Satisfaction Initial Consumer Rebuttal /* (3000, 7, 2014/06/17) */ (The consumer indicated he/she DID NOT accept the response from the business.) It merely says they tried to contact me. It does not mention anything about correcting the issue Final Business Response /* (4000, 16, 2014/07/07) */ Dear Mr. ******, The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 7-2-2014. Thank you for giving us the opportunity to address your concerns as your business is very important to us. We have reviewed your file and spoken to your loan officer. Unfortunately, we will be unable to meet your demand of $25k in compensation. The primary reason is that we cannot find any negligence on our part. The interest rate that you were locked in at was indeed the interest rate at which your loan closed. Please note that we are a regulated industry, so there are government agencies who regularly audit us for regulation compliance. We routinely grade out at the highest level at the end of these audits. Also, we have internal measures in place to proactively protect consumers. This includes both an audit and compliance department. We regret any confusion or frustration that your loan process has created for you. If you have any additional questions or concerns, please feel free to contact the Customer Care Hotline (XXX-XXX-XXXX) at your earliest convenience. Respectfully, ****** B ****** Vice President of Client Satisfaction Final Consumer Response /* (3000, 10, 2014/06/23) */ The company called me once during business hours. I was busy and we agreed they would cal the next day at a certain time. They never called back.

5/14/2014 Delivery Issues | Read Complaint Details
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Additional Notes

Complaint: We took out a mortgage with Guaranteed Rate as part of our purchase of a home in July 2013. According to our mortgage documents, monthly payments were to be as follows: Principal and interest $1,824.52 Property tax reserve $ 638.34 Hazard insurance reserve $ 97.92 Total payment $2,560.78 However, in a letter dated July 29, 2013 setting up our automatic drafting, Guaranteed Rate indicated that our monthly payment was only $2,262.75 per month. Our monthly statements show that this included the correct amount for principal and interest, but only $438.23 in escrow payments rather than $736.26 as stated by the mortgage. This is a shortfall of $298.03 per month in the escrow payment. This was entirely Guaranteed Rate's error. On March 24, 2014, we received Guaranteed Rate's escrow account projection for 2014 with an escrow analysis date of March 11, 2014. This letter projects an escrow account shortfall and also demands that we pay the statutory maximum reserve balance for our escrow account. From the combination of these factors, the letter indicates that we are required to either pay Guaranteed Rate a lump sum of $2,824.86 or an additional $235.41 per month in addition to the now properly calculated escrow payment. In total, this would be a $560.73 increase in our monthly mortgage payments. As you can imagine, this increase poses a significant and unexpected burden on our family. Guaranteed Rate's letter states: The Required Escrow Account balance displays the amount actually required to be on hand as specified by Federal law, State law and your mortgage documents, and may include a cushion of up to 1/6th of your Annual Disbursements. The statement that the required escrow balance is required is contrary to law, false, and misleading. Neither the Real Estate Settlement Procedures Act, 12 U.S.C. § 2601 et seq. ("RESPA"), or the enforcing regulations; Wisconsin law; nor our mortgage documents require any escrow account balance. To the contrary, our mortgage documents state: Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds at the time specified under RESPA and (b) not to exceed the maximum amount a lender can require under RESPA. The mortgage does not specifically require any reserve balance for the escrow, and in fact only authorizes Guaranteed Rate to collect sufficient funds to pay our hazard insurance and city tax, or $9,162.57. The amount Guaranteed Rate actually seeks to retain as a reserve balance is actually the maximum permitted by RESPA, not any amount required by law or our mortgage. To imply otherwise is incredibly misleading. ***** in Guaranteed Rate's customer service department admitted that Guaranteed Rate made the error that resulted in the escrow account shortfall and stated that we should seek relief in writing. On March 25, 2014, we requested that Guaranteed Rate eliminate or reduce the amount of the "required reserve balance" quoted in the escrow account projection. On April 18, Guaranteed Rate sent back a letter stating only "your request for an escrow waiver has been denied" and not addressing our specific concerns. We did not receive this letter until I called Guaranteed Rate on April 24. I spoke to a "supervisor" named ******** at Guaranteed Rate's contractor, who indicated that the "cushion" was agreed upon at closing by "her client." I have not located any documents to that effect. She refused to transfer me to someone at Guaranteed Rate. In the meantime, our mortgage payments will increase on May 1.

Desired Settlement: We request that Guaranteed Rate remove the "reserve balance" requirement. This would reduce the "shortfall" Guaranteed Rate projects to $1,297.76 (or $108.15 per month), rather than $2,824.86 (or $235.41 per month).

Business Response: Initial Business Response /* (1000, 7, 2014/05/05) */ Dear ***** *****, The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 5-5-2014. Thank you for giving us the opportunity to address your concerns as your business is very important to us. We are investigating this issue and will make live contact with you within 1 business day. Guaranteed Rate prides itself on client satisfaction and we regret that your experience has been less than satisfactory. If you have any additional questions or concerns, please feel free to contact the Customer Care Hotline (XXX-XXX-XXXX) at your earliest convenience. Respectfully, ****** B ****** Vice President of Client Satisfaction Initial Consumer Rebuttal /* (3000, 9, 2014/05/13) */ (The consumer indicated he/she DID NOT accept the response from the business.) While Guaranteed Rate has responded to our concern by eliminating the escrow requirement for our mortgage, I cannot say that I am "completely satisfied with the response" as required for me to accept the response, per the BBB's explanation of what that means. Guaranteed Rate made a big error, increased my mortgage payment by $600/month, then ignored my requests and gave me the run around until I reported it to the BBB and the Consumer Financial Protection Bureau. That is not an acceptable way of doing business. Final Business Response /* (4000, 11, 2014/05/14) */ Ms *****, We have escalated your complaint internally and we will be granting your request. Our apologies for any dissatisfaction you've experienced, we truly value you as a customer. Below is a copy of the official confirmation letter being sent to your home. Please contact us immediately if you have additional questions or concerns (************). Regards, ****** B ****** VP - Client Satisfaction May 7, 2014 ***** ***** N36WXXXXX **** ****** Road ********* ** XXXXX Re: Loan Number XXXXXXXXXX Dear Ms. *****: This letter will confirm our actions regarding your complaint filed with the Better Business Bureau.We regret any confusion or hardship surrounding the minimum balance requirement, or cushion, in your mortgage escrow account. After careful consideration, the decision has been made to remove the escrow account requirement from your mortgage loan. Funds currently in your escrow account in the amount of $2,755.37 will be refunded to you, and Guaranteed Rate, Inc. will no longer be responsible for the payments of your real estate taxes, mortgage insurance, and/or homeowner's insurance. Your monthly payment amount is now $1,824.52, next due on June 1, 2014. Effective immediately, you will assume responsibility for the payment of your real estate taxes; however, we will require written confirmation of those payments 40 days after their due date each year. You will also be responsible for the payment of your homeowner's insurance. You must provide proof of payment prior to the expiration dale or' your policy. Failure to comply with these requirements could result in the reinstatement of an escrow account. Rest assured that the deletion of your escrow account in noway changes the terms of your mortgage as outlined in your original mortgage Note. We will work diligently to ensure the proper handling of your loan in the future. If you have any questions; please call us at X-XXX-XXX-XXXX. Sincerely, ******* **** Research Department cc: Better Business Bureau Final Consumer Response /* (2000, 13, 2014/05/14) */ (The consumer indicated he/she ACCEPTED the response from the business.) I reluctantly accept this resolution. While I got the end result that I wanted, it shouldn't take this much work to get a company to listen, particularly a company that advertises itself as having good customer relations.

5/12/2014 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: The first week of January I had gone online to find out more information about refinancing my home. *** at Guaranteed Rate responded to an online inquiry that I placed through **** ***** and we discussed - in great detail - what I needed to refinance as well as the history of the mortgage and modification that I currently have. Over the next couple of weeks I sent over all of the information that they needed in order to process the refinance. I was quoted several prices for items that were involved with the refinance. One of these was the $350 for the Appraisal/Home Inspection. On 02/06/14 I noticed that the $350 was charged to my account for the inspection. Shortly after that, I received notice that they could not proceed with the refinance so neither the refinance nor the home inspection occurred. There should be no charges on my account from Guaranteed Rate since they did not perform the appraisal or the refinance. I requested a refund via e-mail and never heard back from them. There were several questionable things about this company and their fees kept changing when I spoke with them. I do not recommend this company and would like a full refund of my $350 for appraisal services not performed.

Desired Settlement: I would like a full refund of my $350 for appraisal services not performed.

Business Response: Initial Business Response /* (1000, 5, 2014/05/05) */ Dear Mrs. *******, The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 5-1-2014. Thank you for giving us the opportunity to address your concerns as your business is very important to us. Guaranteed Rate prides itself on client satisfaction and we regret that your experience has been less than satisfactory. A Customer Care Specialist has already spoken to you and will remain in direct contact until the issue is closed. If you have any additional questions or concerns, please feel free to contact the Customer Care Hotline (XXX-XXX-XXXX) at your earliest convenience. Respectfully, ****** B ****** Vice President of Client Satisfaction Initial Consumer Rebuttal /* (2000, 7, 2014/05/12) */ (The consumer indicated he/she ACCEPTED the response from the business.) While the written response from Guaranteed Rate is very much a stock response, they did contact me via phone as well and sent a refund check. I am still completely disappointed in how they handled the entire initial transaction, especially the main loan rep, as well as my refund requests that went straight through the company, then credit card company. They have resolved my monetary complaint at this time.

4/23/2014 Billing/Collection Issues | Read Complaint Details
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Additional Notes

Complaint: The loan processing system of this company is broken. They have seemingly no internal means of communication; no ability to effectively meet client's expectations in terms of meeting key deadlines and no regard for the impact of their ineptitude upon their clients. Under no circumstances should any informed consumer select Guaranteed Rate when there are far more qualified lenders ready, willing and able to meet consumers' needs.

Desired Settlement: Close loans on time. --------------------------------------------------

Business Response: Initial Business Response /* (1000, 5, 2014/04/23) */ Dear Mr. ********, The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 4-23-2014. Thank you for giving us the opportunity to address your concerns as your business is very important to us. We are investigating this issue and will attempt to make live contact with you today. Guaranteed Rate prides itself on client satisfaction and we regret that your experience has been less than satisfactory. If you have any additional questions or concerns, please feel free to contact the Customer Care Hotline (XXX-XXX-XXXX) at your earliest convenience. Respectfully, ****** B ****** Vice President of Client Satisfaction Initial Consumer Rebuttal /* (3000, 7, 2014/04/23) */ (The consumer indicated he/she DID NOT accept the response from the business.) I have already been contacted and received no resolution or prospect of such.

3/26/2014 Advertising/Sales Issues | Read Complaint Details
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Additional Notes

Complaint: We moved into a new home this year. The home was built on a property that was divided 5 ways. Our contract stated that the builder would pay all taxes on the undivided property (original parcel). Our first tax liability would be the 2013 taxes (to be billed in 2014). For some unknown reason Guaranteed Rate's escrow division paid taxes on the undivided property even though no bill was ever received, our name is nowhere on that parcel, and there was no tax even due (the builder had paid the taxes). We have worked for several months trying to get this resolved and as of a few days ago I thought our escrow account would be credited the $1787.30 which Guaranteed Rate took from our account for no reason. However, today in the mail I got a notification that Guaranteed Rate now wants me to send in over a thousand dollars or increase my monthly payment by about $100 a month because my escrow balance is too low. The escrow balance would be far above what is needed if they hadn't taken $1787.30 from it and sent it off to the county assessor's office for no reason. It has been impossible to talk to anyone in the escrow department. Someone that I eneded up trying to leave a message with at Guaranteed Rate told me that department didn't have phones. I don't know if it is that the message isn't getting through (I have mailed evidence and received a letter saying that it was received.) or if something else is the problem. Something that should have taken 5 minutes to sort out and fix has taken way too long and the problem only seems to be getting worse.

Desired Settlement: I would like my escrow account credited the $1787.30 owed to me immediately. I would like the account set straight so that this is not an ongoing problem. That means tending to this latest request for additional funds and making sure that the 2014 taxes (for the 2013 year) are paid properly.

Business Response: Initial Business Response /* (1000, 5, 2013/12/18) */ Dear Mr. ****, The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 12/13/2013. Thank you for giving us the opportunity to address your concerns as your business is very important to us. We have investigated the issue and indeed there was a mistake made on our servicer part. We are in the process of making live contact with you today. We have already made the long-term correction to the account as to avoid a repeat. We are also sending you written confirmation of our error, along with crediting your account the amount requested/required. Guaranteed Rate prides itself on client satisfaction and we sincerely regret that your post-loan experience has been less than satisfactory. If you have any additional questions or concerns, please feel free to contact the Customer Care Hotline (XXX-XXX-XXXX) at your earliest convenience. Respectfully, ****** B ****** Vice President of Client Satisfaction Final Consumer Response /* (2000, 14, 2013/12/30) */ (The consumer indicated he/she ACCEPTED the response from the business.) The account balances appear to be in order at this time. The account activity record is really messy with some of the labeling questionable. The existing labeling (showing invalid entries like paying a tax penalty, etc.) may cause problems in the future if it is ever referenced and considered valid. The whole experience has been horrible. After two and a half months of trying to get the problem fixed it took notifying the BBB to even get Guaranteed Rate to take the case seriously. We had to track down our own money and found it with a 3rd party. We did get our money back, but with absolutely no help from Guaranteed Rate. Then it not only took weeks after we were told all would be fixed to get things right, the company actually continued to make more mistakes (improper billing statements showing we needed to send more money, taking more money from our escrow, etc.) during that period. Please remove or black out the account numbers on the .pdf I sent on 12/19/2013 or remove the file completely. I didn't realize that the .pdf would made public when it was submitted. Thank you for your assistance. Hopefully Guaranteed Rate can keep things straight now. Crossing my fingers... Final Business Response /* (1000, 12, 2013/12/30) */ Mr. ****, Your issue should be 100% resolved now and we again apologize for any inconvenience and frustration. A detailed explanation and the accompanying supporting documentation has been sent to your home on 12/27. If you do not receive the letter by 1/2/2014 or have additional questions, please reach out directly to the ************** from our Research Department. ******* can be reached at ************ during normal business hours. Regards, ****** B ****** VP - Client Satisfaction Consumer Response /* (-5, 18, 2014/02/07) */ I would like to re-open this complaint. I thought and hoped that maybe this was all wrapped up, but it isn't. Consumer Response /* (3000, 20, 2014/02/11) */ **** **** <*****@comcast.net> Mon, Feb 10, 2014 at 8:14 PM To: ********* *******" <*******@chicago.bbb.org> Hi *******, I received my 1098 tax statement from Guaranteed Rate's escrow service. The transactions listed on the lower half of the statement show that we paid a tax on 9/13/13. We did not. This was $1787.30 that they essentially tossed out the window and I was left to track down, find, and get refunded by a third party. Although the money was sent to the county tax collector the tax collector said that the tax number they sent the money under did not belong to us and that no money was due on the account that was paid, so the money was refunded to the actual account holder. Fortunately those people were honest and gave us our money back. Guaranteed Rate helped with this in no way and actually tried for a considerable time to convince us that they had done the right thing. Then Guaranteed Rate again took $1787.30 from my escrow account on 12/19/13. They show this on the 1098 as them paying a "tax penalty" for us. They say they simply had to do this. They claim it is an accounting thing. I would suggest that there is a fair chance whatever they were up to with that "accounting thing" was non-standard and possibly illegal. There explanation was simply that because they had improperly taken $1787.30 from the account they had to do it again to balance. That made no sense. However, at least this second time they did refund the money and I was not forced to track it down on my own. Guaranteed Rate admits completely and fully that we never paid a tax and we never had or paid a tax penalty. However, they refuse to adjust the transaction listing for my account. I have been told: a) ******* ***** tole me that it's my fault. If I would have just sent them more money they wouldn't have had to take another $1787.30 from my account and that's why the "tax penalty" exists. I was told at one point that if I sent them $1200 they could make the "tax penalty" transaction go away. I would not do that. On the other side, everyone is in agreement that there was no tax bill, tax penalty, or balance due. If they would quit messing with my escrow it would have never been underfunded at any given point. (At one point the account was -$600 due only to their messing and they were asking for more money to get it back from being negative.) b) They tell me it shouldn't matter. The IRS supposedly doesn't see the transaction listing. c) I have been sent a letter that I can use as "evidence" that a tax penalty has never been paid. I was asked why the word "penalty" bothered me so much. I am wondering why they think that their letter of evidence would carry more wait than the official record. I have a feeling no one is going to care a bit about their letter of evidence. d) I was told it's the IT department's fault. Evidently the IT department outranks all accountants and business administration and because the IT department is not capable of putting in correct transaction descriptions I am just supposed to understand. I don't. This company can't do much of anything right it seems. Saturday I received a letter in the mail indicating that something had been printed improperly about my February payment due date and that it was OK to pay it late... evidently sometime in the future from when I received the letter with no specifics. The odd thing about this is that my February payment cleared with Guaranteed Rate (as indicated in my online account) several weeks ago and is fully up to date and paid. I have no idea of what the letter is about unless they are going to come back to me in March and try to tell me that I didn't pay my February payment. And that honestly wouldn't surprise me. I would like my transaction records corrected and I'd like them to quit messing with my account in general. When it comes tax time I want them to pay my taxes and not someone else's (this does seem to be a problem for them) and I don't really want to deal with them anymore than the once a month payment I send them. Or I'd like to be let out of my contract and just handle taxes on my own. (I really think a judge would see that as making the best sense and depending upon the day I've been about a hairs breath away from getting some time setup with my lawyer to move in that direction.) We've been fooling around with these ongoing problems since September of last year. I'm completely tired of it. Thanks, **** **** Consumer Response /* (3000, 25, 2014/02/28) */ Guaranteed Rate has sent me a letter indicating that they will not change the record on my account. They insist that the "tax penalty" labeling must stay. They also have agreed that there was never any tax or tax penalty on our property. This is basically doing business with Guaranteed Rate as I have come to know it. In response to the online record showing "tax payment" and the mailed tax form showing "tax penalty" for the same transaction (both erroneous) they have stated that they are going to try to change the online record to show "tax penalty" so that the labeling will match. The proper entry for that transaction and refund should be something along the lines of "we took money out for no reason and then it was refunded". Although they claim the transaction was necessary for their accounting practices it makes no sense to take more money out of an account and then refund it to "correct" a mistake where money was taken out improperly in the first place. (and as far a I can see it corrected nothing... only added more errors to the account) It would seem even if the label I have suggested isn't available any proper accouting system would have a label that would fit better than "tax penalty". I am not asking for the transaction to disappear. It did happen. It shouldn't have happened, but it did. What I have asked is that proper labeling be used. Something that makes it fully clear that the transaction was done by and for Guaranteed Rate and had nothing to do with taxes or tax penalties. Guaranteed Rate says that they are unwilling to comply with this request. Business Response /* (4000, 27, 2014/03/10) */ Dear Mr ****, Below is a copy of a letter being sent directly to your home from out servicing partner. It should answer all of your questions, but if not please feel free to reach out to us again for assistance (Customer Care Hotline: ************ / ************@GuaranteedRate.com). I hope this satisfactorily closes out the issue for you. Regards, ****** B ****** VP - Client Satisfaction "Dear **** **** and **** ****: We have received and processed your request for escrow account cancellation and your completed escrow cancellation application. After review of your mortgage loan account and the applicable escrow cancellation requirements, your escrow account is eligible for cancellation. Any funds currently in your escrow account that have not been applied to real estate taxes, mortgage insurance, and/or homeowner's insurance will be refunded to you, and Guaranteed Rate, Inc will no longer be responsible for the payments of your real estate taxes, mortgage insurance, and/or homeowner's insurance. Effective immediately, you will assume responsibility for the payment of your real estate taxes; however, we will require written confirmation of those payments 40 days after their due date each year. You will also be responsible for the payment of your homeowner's insurance. You must provide proof of payment prior to the expiration date of your policy. Failure to comply with these requirements could result in the reinstatement of an escrow account. Your adjusted payment of $862.50 reflects principal and interest and optional insurance, if applicable. A new statement will be forwarded to you shortly. If you have any questions, please call us at 1- phone . Sincerely, Escrow Department" Consumer Response /* (4200, 29, 2014/03/12) */ (The consumer indicated he/she DID NOT accept the response from the business.) Since the handling of escrow has been the source of all problems this seems to be the best option. However, I have not received this letter yet and have not received the refunded money or an adjusted bill at this time. Once that has all happened I can accept this and close out the case. I don't want to accept and close right now... I accepted and closed the last time Guaranteed Rate proposed what seemed to be an acceptable solution only to have to re-open the case very shortly afterwards. Looking forward to seeing some follow through on this... Thank you. Consumer Response /* (2000, 33, 2014/03/26) */ Re: BBB Complaint Case# ******** (Ref#XX-XXXXXXXX-XXXXXXXX-XX-XXXX) 1 message **** **** <*****@comcast.net> Wed, Mar 26, 2014 at 7:57 AM To: "Better Business Bureau (Do Not Reply To This Email Address)" <***********@bureaudata.com> I have now received a refund of my escrow money and it appears that Guaranteed Rate is going to allow us to just handle the escrow on our own. This seems the best solution at this time. My last payment was processed correctly, so if this complaint can be closed at this time if it has not already been. This company has been horrible to work with. A problem that started in September of last year took until now to get resolved. And the only thing that even got them moving to start with, after months of denying they made a mistake, was reporting them to you. BBB has been of more assistance than the lawyer we used at closing... he seemed to not want to get involved (very frustrating since this same man promised us he would always be there if we ever had a problem). Thank you, **** ****

2/25/2014 Advertising/Sales Issues | Read Complaint Details
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Additional Notes

Complaint: I closed the loan on Dec. 5th, and again on Feb.4th. I had sent them 70 plus documents, and they are telling me that is not good enough. They told me that there would be no further closing costs, but they charged me an additional $150.00 to process the loan through for a second time, eventhough they made the error the first time around!

Desired Settlement: **** ******* who is the senior loan officer with this company reassured me that there would be no further closing costs, and that they would finally fund this loan that didn't go through the first time due to their admitted error.

Business Response: Initial Business Response /* (1000, 5, 2014/02/13) */ Dear Mrs. *****, The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 2-10-2014. Thank you for giving us the opportunity to address your concerns as your business is very important to us. Guaranteed Rate prides itself on client satisfaction and we regret that your experience has been less than satisfactory. We reviewed your complaint and will sending you a $150 gift card (cash equivalent) as compensation. You should receive them via *** early next week. If you have any additional questions or concerns, please feel free to contact the Customer Care Hotline (XXX-XXX-XXXX) at your earliest convenience. Respectfully, ****** B ****** Vice President of Client Satisfaction

2/24/2014 Advertising/Sales Issues | Read Complaint Details
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Complaint: We're very disappointed with our whole experience with Guaranteed Rate, Inc. They pre-approved us for a mortgage on a new home purchase and we filed all the paperwork, signed all the forms, got an appraisal, and even had a closing date (Oct 4, 2014), but they did not approve our loan. We had to go through a different lender to buy our home. When I spoke with our Guaranteed Rate brokering agent over the phone he said we did not owe them anything and that the appraisal they did on the home could be used with the new mortgage company. We did close on the home through Primary Residential Mortgage on October 21 and moved into our home on Oct 26th. We had no further contact with Guaranteed Rate until today (Feb. 8, 2014) when we noticed a charge on our credit card. On Jan 17, 2014 (more than three months after any point we'd done business with them) Guaranteed Rate charged us $300 on our Chase Freedom credit card without contacting us at all. I sent an email to them today when I saw the charge and am waiting for a response from them. I will not pay them the $300 they charged and demand a refund. They did not help us get into our home--they chose not to do business with us and told us we didn't owe them anything. Anything we did owe them should have been charged or brought up at that time or at closing in October of 2013, not three and a half months later and without our consent. It's shady and it's unacceptable.

Desired Settlement: I want a full refund for the $300 charged to my credit card.

Business Response: Initial Business Response /* (1000, 5, 2014/02/13) */ Dear Mrs. *******, The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 2-20-2014. Thank you for giving us the opportunity to address your concerns as your business is very important to us. Guaranteed Rate prides itself on client satisfaction and we regret that your experience has been less than satisfactory. We regret you chose to discontinue working w/Guaranteed Rate and apologize for the confusion stemming from a delayed charge to your credit card. To clarify, the delayed charge was for a home appraisal that was requested by you and successfully performed per terms of contract. We do regret that you were not billed at the appropriate time, fortunately you were able to use this same appraisal with your new lender and avoid paying for a service twice. If you have any additional questions or concerns, please feel free to contact the Customer Care Hotline (XXX-XXX-XXXX) at your earliest convenience. Respectfully, ****** B ****** Vice President of Client Satisfaction

2/24/2014 Problems with Product/Service | Read Complaint Details
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Complaint: My First experience with Guaranteed Rate (GR) was very pleasant obviously as I decided to use you again for this deal. Unfortunately this experience was perhaps the most stressful and unpleasant experience I have EVER gone through. At the completion of what was supposed to be a wonderful new beginning moving to a new area and state I felt emotionally drained and very frustrated. The issues did not begin until my loan officer (**** ******** was let go. I was not informed of this by any member of GR. I was trying to reach him to ensure we were on track and after 3 days of no responses I found his personal cell phone and made contact. He informed me of the situation and who I should work with. From that point on it went down hill. Communication was virtually non existent and as we neared my closing date it was apparent that nobody was following my project closely enough to ensure that it was going to happen. On 1/28 nobody could tell me the status of my loan and would not return my calls. When I did get someone on the phone they were not clear on what was still needed or when things would be finalized. On 1/29 after spending the entire day moving out of my current house I sat down to read my email at 10 pm and found an email from 5 hours earlier saying that I was short 23K in reserve funds... no phone call mind you... I spent the next 2 days providing documentation that proved that these funds did exist but again only with me chasing down people. I found out later that unfortunately the underwriter was off on FRiday 1/31 and nobody reviewed my information on a loan that was to close on Monday 2/3. So on Monday 2/3 I drive 7 hours for a closing that I waited to happen... Mind you I had a flight scheduled for 4pm on 2/4. By 1 pm on 2/3 I was being asked for additional documents that had already been discussed 3 weeks prior as well as new request....again we were scheduled to close at 3pm. By 4 pm the story was that the loan was approved by Wells Fargo and the package was being put together which I was told should take less than an hour and there was no reason it shouldn't go out (esp since it was being done in Central time zone which allowed for an extra hour. I requested confirmation via email or phone call when the package would be sent out. No such communication was provided as this never occurred... The next morning I did not get final notice until 9:30 am that the package was sent to the closing agent.... Then.... at 10:45 (45 mins prior to close) I was told that the Power of Attorney was not valid and that I needed my wife to sign a new one... funny the reason for a power of attorney is because the other party is not available to be there so how was I going to make this happen. We were able to resolve this issue but if I had not been resourceful and called every person I could possibly find that worked on this loan (no help from the individual that assumed responsibility **** ******* I would still have not closed on this loan and most likely had penalties from the seller or worse lost the house all together. I do not wish this type of experience on anyone and do hope that you will carefully consider how you can improve on your customer service! Best regards, ****** ******

Desired Settlement: I believe all fees incurred from Gaurenteed Rate for this service should be refunded.

Business Response: Initial Business Response /* (1000, 5, 2014/02/13) */ Dear Mr. ******, The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 2-8-2014. Thank you for giving us the opportunity to address your concerns as your business is very important to us. Guaranteed Rate prides itself on client satisfaction and we regret that your experience has been less than satisfactory. As your complaint details, the loan officer transition was not handled well. Thank you for your patience during that transition. We will use this as an opportunity to improve our internal processes. To further express our sincere regrets, we are sending you a small gift. Please expect it within 3-5 business days. Hopefully, it will offset some of your dissatisfaction with the service you received. If you have any additional concerns, please feel free to contact the Customer Care Hotline (XXX-XXX-XXXX) at your earliest convenience. Respectfully, ****** B ****** Vice President of Client Satisfaction

2/18/2014 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: Neither did I receive a receipt, nor did I sign anything saying the money would not be refunded if I didn't continue with the broker. I was told the $400 was for the appraisal and the $150 for underwriting. On 29 August I learned I could not close conventionally for the condo I was purchasing hadn't met the FMNA approval requirements. I was told the approval process could take 4-6 months. I then decided not to continue with the mortgage with Guaranteed Rate. I was refunded the $400, but not the $150. I asked to be refunded the $150, but was refused. I asked the broker to show me any paperwork I may have signed saying it wouldn't be refunded. The broker could not produce such paperwork. I believe I am entitled to getting my $150 refunded, for I never signed anything saying it wouldn't be refunded if I chose not to continue with the mortgage.

Desired Settlement: I am asking for $150 to be refunded back to me.

Business Response: Initial Business Response /* (1000, 5, 2014/02/13) */ Dear Mrs. *******, The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 2-4-2014. Thank you for giving us the opportunity to address your concerns as your business is very important to us. Guaranteed Rate prides itself on client satisfaction and we regret that your experience has been less than satisfactory. The Customer Care team and the Regional Sales manager have already made live contact with you in the hopes of better understanding your concerns and finding an acceptable resolution. We will remain in direct contact until the issue is closed. If you have any additional questions or concerns, please feel free to contact the Customer Care Hotline (XXX-XXX-XXXX) at your earliest convenience. Respectfully, ****** B ****** Vice President of Client Satisfaction Final Consumer Response /* (2000, 7, 2014/02/18) */ (The consumer indicated he/she ACCEPTED the response from the business.) Guaranteed Rate refunded the money I asked for.

12/23/2013 Guarantee/Warranty Issues | Read Complaint Details
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Complaint: Loan ( refinance) was incorrectly calculated. 6 months into the loan, mortgage payments went up $1000/mo to provide escrow. Contacted customers service on their irresponsibility for escrow charges. and asked for loan to be made separate and not have escrow be included, since they have incorrectly assessed my loan since the beginning. Upon multiple phone calls, was told I could pay for my own appraisal, and if the loan to value ratio reached 80% ( it does, currently after paying $500 for appraisal on their advice), they are still saying that the loan is too young to apply for pmi removal, and therefore be responsible for my own tax payments. Every phone call has been misleading, and involvement with their company is infringing on my good credit and financial well being. I am responsible enough to have an extra $1000/ month to be able to afford this new loan amount, but their miscalculations and continued wrong information is what gets many people into financial troubles, forcing foreclosure and other legal and financial ramifications. I am tried numerous times to contact the company, speak to advisors, and each time their response has been to blame the wrong doings on the person/supervisor I spoke to in an earlier conversation, with no guidance on moving forward to rectify the situation, not even coming close to ensuring their calculations are correct moving forward. I have never fled a complaint about any company, but their product ( refinancing), service (follow through with customers) and dealings are atrocious and deal with my direct property value and monthly payments. I initially paid $500 for an appraisal to get me out of the situation and told 5 months later it was useless. I would refinance again with a different company so that I am not continued to be negatively affected by Guaranteed rate, but I am now spending money that would otherwise be budgeted and allocated elsewhere on fixing their initial costly miscalculation. I want the new appraisal value that was conducted by THEIR appraiser ($430,000) to count towards my Loan to value ratio, take my monthly PMI payments off, and be allowed to be responsible for payment of my own taxes, instead of continuing to allow a company that cannot perform their job to be in charge.

Desired Settlement: I want the new appraisal information provided $430,000 to count toward my Loan to Value ratio ( principle owed $344,000) which would equal the 80%- and therefore take away my monthly PMI charges and paying this company escrow to pay my taxes, which haven't, and still aren't calculated correctly. I do not trust this company to calculate or be in charge of my escrow anymore.

Business Response: Initial Business Response /* (1000, 5, 2013/10/11) */ BBB: Template for 1st Response to BBB Complaint (Post 1st Contact) Dear Mrs. *****, The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 10/2/2013 Thank you for giving us the opportunity to address your concerns as your business is very important to us. Guaranteed Rate prides itself on client satisfaction and we regret that your experience has been less than satisfactory. We have been attempting to reach you directly the last 2 days, but have been unsuccessful. Our intention is to arrange compensation and to address your long-term escrow concerns. Please contact the Customer Care Hotline (XXX-XXX-XXXX) at your earliest convenience to facilitate a successful conclusion to matters. Respectfully, ****** B ****** Vice President of Client Satisfaction Final Consumer Response /* (3001, 11, 2013/11/15) */ Chicago Better Business Bureau Mail ******* ******* <*******@chicago.bbb.org> FW: BETTER BUSINESS BUREAU COMPLAINT 1 message ****** ***** <********@hotmail.com> Wed, Nov 13, 2013 at 11:09 PM To: "*******@chicago.bbb.org" <*******@chicago.bbb.org> Cc: ****** *** <**********@guaranteedrate.com>, "********@hotmail.com" <********@hotmail.com> Dear *******, I wanted to follow up with my Better Business Bureau complaint. Please find several communications between myself and Guaranteed Rate and let me know what further actions I need to take. I can be reached anytime at (XXX) XXX XXXX or by way of this email. Best, ****** ***** From: ********@hotmail.com To: ***************@guaranteedrate.com CC: ********@hotmail.com Subject: RE: BETTER BUSINESS BUREAU COMPLAINT Date: Wed, 13 Nov 2013 23:47:32 -0500 Hi ***** Thank you for getting back to me. However, I am failing to see why my requests can not be granted. As you pointed out the guidelines that ****** *** puts out are just that, guidelines. If Guaranteed Rate had adhered to these guidelines so strictly, I would have never been allowed to apply for an appraisal for PMI reduction in the first place. However, since we are discussing ****** *** Guidelines, I would like to point out the guidelines that ****** *** provides for loan servicers with respect to managing escrow payments: "As the servicer of a first mortgage, you are responsible for: assuming full responsibility for administering the borrower's escrow deposit. estimating the monthly escrow deposit required to ensure that funds are available to pay each expense as it comes due. (emphasis added) analyzing the account annually to determine that the balance is adequate. (emphasis added) making any adjustments required to meet the estimated future charges." As I have consistantly pointed out, you failed on points two and three from the beginning of my escrow payments. It was only after I pointed this out to you did the issue become apparent and resulted in a increase in $1,000 dollars per month payment increases. The guidelines go on to state: "Borrowers who have been paying into an escrow deposit account will sometimes request that the escrow requirement be discontinued. Generally, as the servicer of a first mortgage, you may waive the escrow deposit account requirements for a conventional mortgage. However, as per Announcement SVC-XXXX-XX, you must not grant a request to discontinue escrow requirements for a borrower who has previously defaulted on the related mortgage loan, has a blemished credit history on other credit obligations, or few cash reserves, since the borrower may have difficulty in making the required tax and insurance payments in a lump sum." As I do not have any default or modification on this loan, nor do I have a blemish on my credit history and given my ability to make and additional $6,000 in payments because of your miscalculations, I also do not have a cash reserve problem. Given all this I reiterate that I am well within my rights to request a waiver for my escrow payments as well as elimination of my PMI as per ****** ***'s guidelines. I look forward to your response. Thank you, ****** ***** From: ***************@guaranteedrate.com To: ********@hotmail.com Subject: FW: BETTER BUSINESS BUREAU COMPIAINT Date: Wed, 13 Nov 2013 22:51:40 +0000 Hello ******, The email below was forwarded to me by ***** ******* Unfortunately, per ****** ***es guidelines, we are not able to waive your escrows or MI at this time. I see that ***** already offered you a refund for the appraisal. I sincerely apologize for the frustration this has caused you, please let me know if these is anything else I can do to help. **** ********** Servicing Manager Description: Description: http://www.guaranteedrate.com/images/grLogoPiped.gif P: XXX-XXX-XXXX F: XXX-XXX-XXXX ****@guaranteedrate.com www.guaranteedrate.com/servicing 3940 N Ravenswood Chicago, IL XXXXX NMLS ID **** Licensing Information: http://www.guaranteedrate.com/licensing.php Description: Description: Guaranteed Rate Equal Housing Lender http://www.guaranteedrate.com/images/icons/vcard-icon.png - My vCard http://www.guaranteedrate.com/images/icons/facebook_icon.png - Find Us On Facebook! http://www.guaranteedrate.com/images/icons/twitter_icon.png - Follow Us On Twitter! http://www.guaranteedrate.com/images/icons/youtube_icon.png - Our YouTube Channel Please note: we care about our security and privacy. Don't include identifying information like account numbers, birth dates and social security numbers in emails to us. Call us instead on secure email options or send the information by fax or regular US mail. CONFIDENTIALITY AND SECURITY NOTICE The contents of this message and any attachments may be privileged, confidential and proprietary and also may be covered by the Electronic Communications Privacy Act. If you are not an intended recipient, please inform the sender of the transmission error and delete this message immediately without reading, disseminating, distributing or copying the contents. Guaranteed Rate makes no assurances that this e-mail and any attachments are free of viruses and other harmful code. From: ****** ***** (mailto:********@hotmail.com) Sent: Tuesday, November 12, XXXX XX:XX PM To: ***** ****** Cc: ********@hotmail.com Subject: RE: BETTER BUSINESS BUREAU COMPIAINT *****, I will need to know whom I can address my concerns with if you feel you have gone as far as you feel you can. There must be some remedy to these issues. To say I am unsatisfied with the level of service I have been receiving from Guaranteed Rate, would be a massive understatement. You allowed an appraisal and a full application for PMI removal to go forth despite what are apparently clear policies that this should not have taken place for a minimum of two years. This was not brought to your attention until I did so. If this was, in fact, company policy, measures should have been in place to prevent this from ever going forward. Returning the appraisal fee is a minimum effort at best. Second, your incompetence in determining my proper escrow payments is appalling. Once again, it wasn't until I brought to your attention that my escrow payments were far below that which is necessary to properly pay my taxes on time, was anything done. The result was that my monthly payments were increased over $1,000 because of your miscalculation. Further, as there is a tax abatement on my property, the taxes did not increase; my payment increased because you were not managing the payments properly. Of course I am unhappy with paying the shortage. My payments increased to more than what I was paying prior to refinancing. Where is the advantage to the refinancing? My understanding is that Guaranteed Rate is in the business of managing mortgages. That includes providing a good faith appraisal of the property, correctly determining payments so that I am provided the information necessary to properly manage my finances and provide the correct amount to put in escrow for my tax payments each quarter. You failed on each of these points. You have failed to provide even close to adequate service in the one area your company is in business to provide. This is not an ancillary service we are discussing here. This is your main business function. While you seem to claim that you are unable to change the policies to which you operate under, clearly that is not accurate. If your policy is to wait until two years before I can apply for a PMI reduction, why was I allowed to move forward? If those policies are malleable enough that I was allowed to move through the entire appraisal and application process, than surely you or someone at your company can see fit that an exception can be made in this case. Therefore it is my contention that the following options be allowed to move forward with respect to my mortgage: 1) As of my last payment my LTV is at 79%. I am eligible to have my PMI removed from my account. Please do so. 2) Management of my escrow account will no longer be handled by you. As you have already demonstrated the lack of doing this correctly, I do not have faith that it will be done so going forward. I will handle this myself. Thank you for your attention in this matter. I await your attention to this matter. Sincerely, ****** ***** From: *******@guaranteedrate.com To: ********@hotmail.com CC: **********@guaranteedrate.com Subject: RE: BETTER BUSINESS BUREAU COMPIAINT Date: Tue, 15 Oct 2013 16:06:39 +0000 ******: I reviewed your letter and discussed with our servicing department. You are asking for two things we can not give you. First, we do not allow applicants to pay their own escrows unless the loan was closed with an 80 LTV or less. You closed with a ninety loan to value. You may obtain a waiver for this but, our requirement is the loan be on our books for two years. We would then do an appraisal to obtain the new value . Your loan does not meet either of the criteria for LTV or servicing period. I know we offered this option to you previously and did the appraisal but, that was done in error and we are offering you a refund of the appraisal fee for this mistake. The increase in payment is due to the tax escrow shortage. As we discussed, and you were aware of, the tax abatement was in place at the time of closing. You keenly knew the taxes would go up and had the money set aside for the increase. When our escrow department did the analysis, the payment went up $1000.00 . That can be remedied with paying the shortage to the servicing department lowering your payment. I think we can agree that the money is due but, you are unhappy with how we are collecting the shortage. ******, I have gone as far as I can go with this and again I offer my apologies for the errors committed before I got involved. If you like, I can put you in contact with the Head of Servicing and you can continue your conversation there to obtain what you are looking for. Let me know how you want to proceed. ***** ****** Operations Manager ************@guaranteedrate.com ****************************************** vCard / Facebook / LinkedIn/ Twitter / A+ BBB Rating o: XXX-XXX-XXXX / m: XXX-XXX-XXXX / f: XXX-XXX-XXXX *** Route ** W., Suite 110E, *********** ** XXXXX NMLS ID: XXXXX Description: Description: Guaranteed Rate Description: Description: Apply now - securely Description: Description: Equal Housing Lender NMLS ID **** / NMLS Consumer Access / Licensing Information Please Note: We care about your security and privacy. Please don't include identifying information like account numbers, birth dates and social security numbers in emails to us. Call us instead for secure email options or send the information by fax or regular US mail. CONFIDENTIALITY AND SECURITY NOTICE The contents of this message and any attachments may be privileged, confidential and proprietary and also may be covered by the Electronic Communications Privacy Act. If you are not an intended recipient, please inform the sender of the transmission error and delete this message immediately without reading, disseminating, distributing or copying the contents. Guaranteed Rate makes no assurances that this e-mail and any attachments are free of viruses and other harmful code. From: ****** ***** (mailto:********@hotmail.com) Sent: Monday, October 14, XXXX X:XX PM To: ***** ****** Subject: RE: BETTER BUSINESS BUREAU COMPLAINT Dear Mr. ******* Thank you for your reply. I do not think your offer of merely refunding me the $500.00 that I paid for the appraisal is satisfactory. As per our conversation on the phone, since refinancing with Guaranteed Rate, your company has made multiple mistakes when it comes to my loa- including, but not limited to: miscalculating my escrow so that I am left making up an extra $1,000 monthly payments at the latter part of the year to bring my escrow to balance, and then once it was brought to your attention that I wanted PMI removed because of that exact mistake, I was sent paperwork for an appraisal with PMI removal instructions only to be told once the appraisal was complete that I am, in fact, ineligible. This are two very transparent examples of mistakes your company has made in a very short amount of time ( less than a year) that I have been a customer with you, not to mention a myriad of customer service complaints. I have never asked for any money from your company as compensation; I have simply asked that now I have legally shown 80/20 ratio value to my property- according to your appraiser ( which, ironically, as with the first appraisal, came in at the exact amount needed, and no more, despite comps in the direct building at much higher values), to get the PMI removed. Given these two mistakes, I also do not trust, at all, that moving forward into the new year, my new escrow will be calculated correctly, since no task that has been completed by your company since I have been a customer has been completed correctly. I simply want the escrow to be removed from my account, and I want to be in charge of paying my own taxes, instead of leaving your company to do it, and having to spend an ongoing micromanaging eye to ensure it is actually being done correctly. That is not what a customer should have to do, and I am beyond disappointed and frustrated with your company, and it has left me with nothing but a bad taste and no good words to pass on. I look forward to hearing back from you in regards to PMI removal ( now at 80/20) and removal of escrow. Regards, ****** ***** From: *******@guaranteedrate.com To: ********@hotmail.com CC: **********@guaranteedrate.com Subject: BETTER BUSINESS BUREAU COMPLAINT Date: Fri, 11 Oct 2013 16:07:13 +0000 Dear Ms. *****: I am following up on our conversation yesterday concerning your Better Business Bureau complaint against GRI. I have spoken with our Servicing Department in length about the issue and have concluded that we should not have offered you the opportunity to do the appraisal on your property in hope of getting eliminating your Mortgage Insurance. Our Servicing Department Manager also informs me that there is a two year rule to attempt this process. There are no exceptions available on this issue. We can however refund your $500.00 that you paid to get the appraisal done. Let me know if you want it in a Prepaid Gift card for $500.00 , this can go out within the next few days or a check payable to you which will take us 2 to 3 weeks to process. I know this is not what you are looking for but it is the only solution I have to offer in this situation. Should you wish to further discuss this matter , please call my office. ***** ****** Operations Manager ************@guaranteedrate.com ****************************************** vCard / Facebook / LinkedIn/ Twitter / A+ BBB Rating o: XXX-XXX-XXXX / m: XXX-XXX-XXXX / f: XXX-XXX-XXXX *** Route ** W., Suite 110E, *********** ** XXXXX NMLS ID: XXXXX Description: ********** Rate Description: Apply now - securely Description: Equal Housing Lender NMLS ID **** / NMLS Consumer Access / Licensing Information Please Note: We care about your security and privacy. Please don't include identifying information like account numbers, birth dates and social security numbers in emails to us. Call us instead for secure email options or send the information by fax or regular US mail. CONFIDENTIALITY AND SECURITY NOTICE The contents of this message and any attachments may be privileged, confidential and proprietary and also may be covered by the Electronic Communications Privacy Act. If you are not an intended recipient, please inform the sender of the transmission error and delete this message immediately without reading, disseminating, distributing or copying the contents. Guaranteed Rate makes no assurances that this e-mail and any attachments are free of viruses and other harmful code. Final Business Response /* (1000, 16, 2013/12/12) */ Dear Mrs. *****, We regret your dissatisfaction with your existing loan. Regrettably, there's no change in the status of your request to A) handle your own escrow and B) to remove PMI. The reason is that A) this loan is required to be serviced (escrow) a minimum of 2 years and there are currently no exceptions to this rule and B) PMI cannot be removed due to the LTV being 90% (80% is required). We admit fault in recommending that you have your home reappraised to drop PMI. We remain willing to refund the entire appraisal amount if you'd accept it (in last communication, you rejected it). Please contact the Customer Care Hotline ************* / ************@GuaranteedRate.com) at your earliest convenience to facilitate a successful conclusion to matters. Respectfully, ****** B ****** Vice President of Client Satisfaction

11/25/2013 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: First he gave my partner and I a pre-approval saying we qualified for the loan. Then he said one of the credit agency was reporting my partner's short sale as a foreclosure. We contacted the credit agency and they said they were reporting it correctly and it was Guaranteed Rate's software that was out of date and reading it incorrectly. So **** said that I could qualify for the loan on my own. Then he said, the I would have to rent out my current house, which I contracted to rent out. Then he said I needed 20% equity in my house and that I needed to get an appraisal which he ordered. The appraisal came back at just over 20% equity. Then he said oops, sorry you now need 30% equity and had me pay close to $20,000 down on my current property. Then he said, oops, since you refinanced your current property in the last year, you don't qualify. I had refinanced with him so he should have known this before making me pay all this money down! Then he said you can only qualify for an FHA loan that requires mortgage insurance of $400/mo. I have an 800 credit score and putting down over 20% on the house I was trying to purchase so there was no way I was going to accept these terms. I did everything he asked and then he had the nerve to charge me for the loan application feed and the appraisal totaling $500 - which was useless. Incompetent and misleading doesn't even begin to describe **** ********* I called the corporate office in Chicago 3 times and no one would call me back.

Desired Settlement: $500

Business Response: Initial Business Response /* (1000, 7, 2013/10/25) */ Dear Mr. *****, The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 10-4-2013. Thank you for giving us the opportunity to address your concerns as your business is very important to us. Guaranteed Rate prides itself on client satisfaction and we regret that your experience has been less than satisfactory. The Customer Care team has already made live contact with you in the hopes of better understanding your concerns and finding an acceptable resolution. Your request for a full reimbursement of both your application and appraisal fee is something we believe is not appropriate for this situation. In terms of an application fee, we will reimburse the full amount. In terms of the appraisal, our position is that this shouldn't be reimbursed because... A) Guaranteed Rate does not gain any direct financial benefit from any appraisal fee paid by any of our customers. What we do is help broker that transaction, but 100% of that fee goes directly to the appraiser. B) B) Since your complaint doesn't comment on the quality of the appraisal, it implies that you were satisfied with the quality of the appraiser's work. We will contact you early next week to conclude this matter. But if you have any additional questions or concerns, please feel free to contact myself or the Customer Care Hotline (XXX-XXX-XXXX) at your earliest convenience. Again, we apologize for any frustration experienced during your loan process. Respectfully, ****** B ****** Vice President of Client Satisfaction Final Consumer Response /* (4200, 13, 2013/11/11) */ (The consumer indicated he/she DID NOT accept the response from the business.) While I appreciate the refund of the application fee, I still do not agree with not refunding the cost of the appraisal since it was ordered per the lenders advice that this was a viable path - which it was not and should never have been presented as an option in the first place. The appraisal was on the property that I already owned, not the property I was trying to get the loan on. The fee was charged by your company so it should be refunded by your company because it was your error to even suggest that. I had to end up selling my 1st property because you had me put down another $20K to pay down the principle on the loan to show 30% equity. I was planning on renting it vs selling it so this bad advice has cost me way more than the $350 appraisal fee. If you think I would ever use your company again, you are crazy. Final Business Response /* (4000, 11, 2013/11/07) */ Dear Mr. *****, The purpose of this letter is to confirm that we are in receipt of your Better Business Bureau (BBB) complaint filed on 10-28-2013. We've gone ahead and sent a refund (via cash equivalent gift card) of the application fee to your home and UPS confirmed it was delivered on 11/6. We maintain our position on the refund of the appraisal fee, that it's not justified as those funds went directly to a third party (the appraisal company). That withstanding, if you decide to refinance this property again, we would be willing to again eat the application and refund the appraisal fee for the new loan. This refund would occur at the closing table and be documented in the HUD. Again, we apologize for any frustration experienced during your loan process. Respectfully, ****** B ****** Vice President of Client Satisfaction


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Customer Reviews Summary

25 Customer Reviews on Guaranteed Rate, Inc.
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