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A BBB Accredited Business since
BBB has determined that Perl Mortgage, Inc-Belmont Ave. 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 raised the rating for Perl Mortgage, Inc-Belmont Ave. include:
- Length of time business has been operating
- Complaint volume filed with BBB for business of this size
- Response to 2 complaint(s) filed against business
- Resolution of complaint(s) filed against business
Customer Complaints Summary Read complaint details
|Complaint Type||Total Closed Complaints|
|Problems with Product/Service||0|
|Total Closed Complaints||2|
Customer Reviews Summary Read customer reviews
|Customer Experience||Total Customer Reviews|
|Total Customer Reviews||0|
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
Phone Number: (312) 814-4500
Type of Entity
Business ManagementMr. Nathan Britsch, Quality Control Manager Mr. Steven Laner, Executive Vice President Mr. Ken Perlmutter, President Mr. Andrew Stewart, Vice President of Operations
Number of Employees
Mortgage Bankers Financing Consultants Real Estate Consultants Financing Loans Loans - Farm & Ranch Loans - Small Business Real Estate Loans Mortgage Brokers Reverse Mortgage Mortgage Lender Financial Services Real Estate Credit (NAICS: 522292)
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BBB Complaint Process
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Additional Phone Numbers
- (773) 862-1530(Phone)
- (847) 644-7956 (Fax)
Additional Email Addresses
- - eQuote
- - Communication/Mass Email
Complaint Trends - Last 3 Years
Customer Review Trends
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.
BBB Letter Grade Scale
Star Rating scale
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Read Complaint Details
Complaint: My parents and I jointly own a condo that I reside in, in ******************. The condo was purchased in September of 2010 with a 10/1 libor ARM. The mortgage is in my parents' name alone. I began corresponding with ************** of **** Mortgage in October of 2012 about refinancing the mortgage with a fixed rate, since interest rates had gone down significantly. He assured my family that he would be able to help us get a better mortgage payment plan. On January 15th, 2013, Mr. ****** contacted my father, ************, by phone, and we initiated the refinance application. The condo was appraised and all requested financial paperwork was sent to **** Mortgage. The process was very lengthy, but Mr. ****** assured me in writing that there was no danger of the interest rate expiring as he would renew it when needed. On May 8, 2013, Mr. ****** wrote that we had an official loan approval for a 25-year fixed rate refinance at 3.5% interest, but that there were conditions on it. All conditions were met, and we awaited a closing date. On July 15th, after several unanswered inquiries Mr. ****** wrote to say that there were three issues we had to deal with: the interest rate had expired, the appraisal had expired, and "****** the processor said there is an issue with the condo that the condo approval area has. I have asked for them to clarify what we need to get the project approved." When I reminded Mr. ****** that he had said the loan was approved and rate was secure, he replied that same day: "I had been paying for rate extensions on the file for months and months and could not continue to do so. Yes, I had told you I would extend it, in early March. However, I did not anticipate that we would now be in Mid July and the file would still not be closed. Because the market has now turned against us, It would have cost me about 7000.00 to pay for rate extensions. Since there was an issue with the condo project being approved and since we would need a full new appraisal, I knew that would add multiple more weeks to this. I will sit down with ****** tomorrow to go over the file and see if we are even going to be able to get the condo project approved. If not, then anything else is a mute sic point. I am concerned about having to order another full appraisal. I am most concerned about the rate as we would now be subject to current market regarding pricing. I will talk to our lock desk, but I am not hopeful on that front. However, lets wait to see what happens when I speak to ****** tomorrow to determine how best to move forward." Since then, I have received no update in almost a month and several emails have gone unanswered by Mr. ******.
Desired Settlement: Completion of the refinance at the offered rate of 3.5% fixed for 25 years.
Business Response: Initial Business Response /* (1000, 7, 2013/09/04) */ Contact Name and Title: ************** Contact Phone: ************ Contact Email: ******************** We are presently working with *********** and her family to see if we can provide a mortgage that meets her particular needs. Nothing has been resolved at this point but we are working to make her happy.