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BBB Accreditation

A BBB Accredited Business since

BBB has determined that Platinum Home Mortgage Corporation 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 Platinum Home Mortgage Corporation include:

  • Length of time business has been operating
  • Complaint volume filed with BBB for business of this size
  • Response to 4 complaint(s) filed against business
  • Resolution of complaint(s) filed against business


Customer Complaints Summary Read complaint details

4 complaints closed with BBB in last 3 years | 2 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 1
Billing/Collection Issues 1
Delivery Issues 1
Guarantee/Warranty Issues 0
Problems with Product/Service 1
Total Closed Complaints 4

Customer Reviews Summary Read customer reviews

0 Customer Reviews on Platinum Home Mortgage Corporation
Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 0
Negative Experience 0
Total Customer Reviews 0

Additional Information

BBB file opened: January 30, 1996 Business started: 09/21/1993 in IL Business started locally: 09/21/1993 Business incorporated 09/21/1993 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
www.idfpr.com
Phone Number: (312) 814-4500

Type of Entity

Corporation

Business Management
Ms. Lori Pelinski, Corporate Compliance Dire
Contact Information
Principal: Ms. Lori Pelinski, Corporate Compliance Dire
Business Category

Mortgage Bankers Real Estate Consultants Real Estate Services Mortgage And Escrow Companies Financing Loans Loans - Small Business Real Estate Loans Mortgage Brokers Mortgage Lender Financial Services Real Estate Credit (NAICS: 522292)

Alternate Business Names
PHMC Mortgage PHMC Mortgage Corporation
Additional Information

Some of these locations may not be accredited.


Additional Locations

  • THIS LOCATION IS NOT BBB ACCREDITED

    1010 Main St

    Lafayette, IN 47901

  • 1021 W Adams St Ste 300

    Chicago, IL 60607

  • THIS LOCATION IS NOT BBB ACCREDITED

    11121 Carmel Commons Blvd STE 130

    Charlotte, NC 28226

  • THIS LOCATION IS NOT BBB ACCREDITED

    1202 E Broadway Blvd Ste 108 & 110

    Tucson, AZ 85719

  • THIS LOCATION IS NOT BBB ACCREDITED

    124 Highway 17 South

    North Myrtle Beach, SC 29582

  • THIS LOCATION IS NOT BBB ACCREDITED

    1333 N Buffalo Dr Unit 210

    Las Vegas, NV 89128

  • THIS LOCATION IS NOT BBB ACCREDITED

    1427 Missouri Ave

    Joplin, MO 64801

  • THIS LOCATION IS NOT BBB ACCREDITED

    1485 Civic Court Circle #1333

    Concord, CA 94520

  • THIS LOCATION IS NOT BBB ACCREDITED

    155 Country Estates Cir

    Reno, NV 89511

  • THIS LOCATION IS NOT BBB ACCREDITED

    160 via Verde STE 250

    San Dimas, CA 91773

  • THIS LOCATION IS NOT BBB ACCREDITED

    1601 Paseo San Luis St. Ste 101

    Sierra Vista, AZ 85635

  • THIS LOCATION IS NOT BBB ACCREDITED

    1672 W Avenue J STE 106

    Lancaster, CA 93534

  • THIS LOCATION IS NOT BBB ACCREDITED

    1831 E 71st St

    Tulsa, OK 74136

  • THIS LOCATION IS NOT BBB ACCREDITED

    20501 S Avalon Boulevard Ste a

    Carson, CA 90746

  • 2200 Hicks Rd
    Ste 101

    Rolling Meadows, IL 60008 (847) 797-9500 (800) 953-6337 (773) 252-5000 (847) 797-5790

  • 2990 N Perryville Rd STE 317

    Rockford, IL 61107

  • THIS LOCATION IS NOT BBB ACCREDITED

    300 Harding Blvd

    Roseville, CA 95678

  • THIS LOCATION IS NOT BBB ACCREDITED

    3031 W March Lane

    Stockton, CA 95219

  • THIS LOCATION IS NOT BBB ACCREDITED

    3319 M St

    Merced, CA 95348

  • THIS LOCATION IS NOT BBB ACCREDITED

    40810 County Center Dr STE 150

    Temecula, CA 92591

  • THIS LOCATION IS NOT BBB ACCREDITED

    437 S Cataract Ave Ste 3

    San Dimas, CA 91773

  • THIS LOCATION IS NOT BBB ACCREDITED

    535 S Cox Street

    Asheboro, NC 27203

  • THIS LOCATION IS NOT BBB ACCREDITED

    5601 Truxtun Ave STE 200

    Bakersfield, CA 93309

  • THIS LOCATION IS NOT BBB ACCREDITED

    5601 Truxtun Blvd #200

    Bakersfield, CA 93309

  • THIS LOCATION IS NOT BBB ACCREDITED

    646 Plank Rd

    Clifton Park, NY 12065

  • THIS LOCATION IS NOT BBB ACCREDITED

    687 W Canfield Ave #201

    Coeur d Alene, ID 83814

  • 800 E Northwest Hwy 614

    Palatine, IL 60074

  • THIS LOCATION IS NOT BBB ACCREDITED

    8383 Greenway Blvd STE 610

    Middleton, WI 53562

  • THIS LOCATION IS NOT BBB ACCREDITED

    861 S Village Oaks Drive #202

    Covina, CA 91724

  • THIS LOCATION IS NOT BBB ACCREDITED

    9227 Haven Ave Ste 100

    Rch Cucamonga, CA 91730

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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)

8/6/2015 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: I was in the process of a home purchase and at the "clear to close" stage when the lender was not able to verify my income due to my employer not being able to supply this information because i have been out on disability leave for the past 10 months. My loan was approved based on this same income.Since we were near the closing, I paid $350 for an inspection fee, and $450 for an appraisal fee, that i was told that i can't get back because the appraiser and inspector don't return fees. If platinum home mortgage knew that they couldn't give me a loan why drag it out. I had bee waiting for this home for almost 60 days. Our closing date was extended 3 times. I just want my money back. This is not my fault, the loan was disapproved by the lender not me. Why should i suffer and lose money at the same time.

Desired Settlement: DesiredSettlementID: Refund I would like to be refunded the monies in the form of cash or check. I don't want a credit for what I've paid. I will not use the credit because i do not wish to ever Do business with platinum home mortgage.

Business Response: Initial Business Response /* (1000, 5, 2015/08/05) */ Ms. ******, We received the complaint you submitted and hereby respond to it. We certainly understand your frustration regarding the circumstances surrounding the verification of your income that led to Platinum's denial of your loan. It is unfortunate the loan could not have been approved, and we have already refunded your appraisal fee in the full amount of $450. However, we must dispute an item of fact in your complaint, which is that you state that you were "at the 'clear to close' stage", and that your "loan was approved." Unfortunately, this was not the case. Only underwriters can approve a loan after all verifying documentation is received and substantiated. As you correctly stated in your complaint, we were "unable to verify my income due to my employer not being able to supply this information..." By government requirements, we are required to verify a borrower's income and ability to repay a loan. Absent such, we are not allowed to approve a loan for any borrower. While it may be correct that you provided your income information at the beginning of the process, because your employer was unable to provide the required information, your loan could not be approved. As this is a public forum, we do not feel it respectful of your privacy to include any additional details regarding your income or employment. Nonetheless, we can empathize with your situation, and reimbursed your appraisal fee on July 28 in the full amount of $450 as stated above. As for your request that we reimburse your inspection fee in the amount of $350, however, we must respectfully decline to do so because we never required you to have the home inspected. Inspections are completely voluntary on the part of the prospective buyer, and are not required by us for loan approval. We certainly would have liked for things to have gone smoother with your loan application with us, and wish you all the best in your future endeavors. Please feel free to contact me with any further questions or concerns. Initial Consumer Rebuttal /* (2000, 7, 2015/08/05) */ (The consumer indicated he/she ACCEPTED the response from the business.) I can accept the response based on the full return of the appraisal fee that I received in late July of 2015. I was told by the loan officer even via email that I was in the "clear to close" phase. As for the inspection fee, I am aware this is a service I chose to have based on the fact that I was about to purchase a home. All that I ask is that your company along with the loan officers advised potential buyers with the correct information and not to mislead them. I have wasted a lot of time and money throughout this process. Before a preapproval is given to a buyer all information should have been verified, not after money and time has been wasted.

7/17/2015 Billing/Collection Issues | Read Complaint Details
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Additional Notes

Complaint: In doing a contingency sale we have been delayed on numerous occasions by lender Jeff *******. Jeff ******* has failed to meet his contractual obligation. Stories keep changing as to the reasoning why the delays are recurring. As a result of numerous delays, we have been financially and emotionally damaged by the circumstances. We have been driving 100 miles everyday for daycare and paying $60 a day for loan extensions on our new home.

Desired Settlement: We would like funding to be completed for the sale of our home, as there is no end in sight through this process. We would like for the lender to be identified for his lack of quality service, as there are severe repercussions are at stake for the lack of professional and customer service. We are seeking payment for financial damages incurred while driving 100 miles to daycare everyday and for loan extensions. We are also seeking part of or the entire earnest deposit of $5,000.

Business Response: Initial Business Response /* (1000, 5, 2015/06/29) */ In response to this complaint you filed with the Better Business Bureau, we want you to know that we take your concerns very seriously and have reviewed the transaction history. Certainly, we can respect your desire for a quick closing on the sale of your property, but there are many underwriting and regulatory conditions that must be satisfied before closing, any of which can cause an unexpected delay in the process. As I'm sure your realtor made you aware last week, this transaction had to be cancelled (after your complaint was reported). Unfortunately because the borrower is our customer, due to consumer privacy laws we are unable to comment further on the transaction.

3/30/2015 Delivery Issues
2/3/2015 Advertising/Sales Issues

Customer Review(s)

The customer review(s) below are un-filtered. These positive and negative reviews are not used in the calculation of the BBB Rating. If you wish to file a complaint and request a resolution to your issue please click here. This customer review section is not BBBs complaint resolution system. Customer Reviews are the subjective opinion of the individual who posted the review and not of Better Business Bureau. A customer review is not posted on a business if a BBB complaint on the same issue(s) is also filed. BBB cannot guarantee the accuracy of any customer review and is not responsible for the content of any customer review. Public comments are not customer reviews.

Customer Reviews Summary

0 Customer Reviews on Platinum Home Mortgage Corporation
Positive Experience (0 reviews)
Neutral Experience (0 reviews)
Negative Experience (0 reviews)