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In Tyler & Longview TX Serving 19 East Texas Counties

BBB Business Review

BBB Accredited Business since 11/01/2001

Service First Mortgage

Phone: (903) 247-0803Fax: (903) 247-08061300 Hollybrook Drive, LongviewTX 75605 Send email to Service First Mortgage

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BBB Accreditation

A BBB Accredited Business since 11/01/2001

BBB has determined that Service First Mortgage 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 16 factors. Get the details about the factors considered.

Factors that raised Service First Mortgage's rating include:

  • Length of time business has been operating.
  • Complaint volume filed with BBB for business of this size.
  • Response to 1 complaint(s) filed against business.
  • Resolution of complaint(s) filed against business.
  • BBB has sufficient background information on this business.

Customer Complaints SummaryRead complaint details

1 complaint closed with BBB in last 3 years | 0 closed in last 12 months
Complaint TypeTotal Closed Complaints
Problems with Product / Service1
Advertising / Sales Issues0
Billing / Collection Issues0
Delivery Issues0
Guarantee / Warranty Issues0
Total Closed Complaints 1

Complaint Breakdown by Resolution

Complaint Resolution Log (1)BBB Closure Definitions
10/17/2012Problems with Product / Service | Read Complaint Details
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Additional Notes

Complaint Category: Delayed completion of service

Complaint: FSM owes me a refund for an appraisal fee. This appraisal was not done due to FSM not being able to continue their service to me.
On Wednesday, September 19, I contact Thomas Holyfield to explain that I could not get the appropriate legal work done on my case that he requested in order to continue processing my loan. I explained that I was aware that the appraisal that was scheduled for Friday, September 21, had not been done and had, in fact, been canceled. Mr. Holyfield first replied that he wouldn't give me the refund. I asked why and stated that there was no policy stating that it was nonrefundable. He then agreed to refund it. I asked him the following day via email to please remember to refund me because I had to pursue a loan with someone else who also required an appraisal. I never heard a response from Mr. Holyfield or his office staff.

Business' Initial Response
One of the supporting documents that we needed for the loan was a copy of her divorce decree.

The divorce decree shows that she was awarded the property (and at that time became responsible for payments, taxes, etc). She was responsible for: The balance due, including principal, interest, tax and insurance escrow, on the promissory note executed by herself and her husband, and secured by deed of trust on the real property awarded in this decree to the wife, which is recorded in the Official Deed Records of their county. The sum of $25,000 payable by her to her ex-husband if, at a future date, she sells the residence awarded to her herein.

Per the borrower, she lived there for a while and then returned the home to her ex-husband. She told us that it was never her house. She just had the right to stay there as long as she chose.

We must go by the terms of the divorce decree since this was signed by the courts. We requested from her proof that he was paid the $25,000 upon the sale or a modification to the decree removing the requirement that she owed the $25,000 to him, and that she gave the home back to him.

Upon pulling the information on the property, we found the following information. On 7/6/2009, a special warranty deed was recorded with her husband as the Grantor and herself. On 5/1/2012, a substitute trustees deed was recorded with her as the Grantor and the mortgage company as the Grantee. The home was foreclosed.

The borrower withdrew her loan on 9/19/2012.

Consumer's Final Response
I did receive a refund as requested after the complaint was filed. Thank you for your help and attention to this matter.

Complaint Resolution: Company resolved the complaint issues. The consumer acknowledged acceptance to BBB.

Industry Comparison| Chart

Mortgage Brokers

Additional Information

top
BBB file opened: 11/28/2001Business started: 01/01/1993Business started locally: 12/01/2000
Licensing

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

These agencies may include:

Texas Department of Savings and Mortgage Lending
2601 N Lamar Suite 201
Austin, TX78705
(512) 475-1350
http://www.sml.texas.gov

BBB records show a license number of 355387 for this company.

Type: TX Savings and Mortgage Lending

Check License Status: http://www.sml.state.tx.us:8080/mblolookup/search.jsp355387

Please note that governmental licensing information may not be current.

Contact Information
Principal: Mr. Thomas L. Holyfield (Branch Manager)
Business Category

Mortgage Brokers

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To Rent or Buy - Which is Right for You

Map & Directions

Map & Directions

Address for Service First Mortgage

1300 Hollybrook Drive

Longview, TX 75605

To | From

LocationsX

1 Locations

  • 1300 Hollybrook Drive 

    Longview, TX 75605(903) 247-0803

Industry Comparison ChartX

The information in the table below represents an industry comparison of businesses which are of the same relative size. This is based on BBB's database of businesses located in Tyler & Longview TX Serving 19 East Texas Counties. Businesses may engage in more than one type of business. The percent of time the business engages in a type of business is not accounted for. There is no known industry standard for the number of complaints a business can expect. The volume of business and number of transactions may have a bearing on the number of complaints received by BBB.

*Service First Mortgage is in this range.

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Types of Complaints Handled by BBB

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

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

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

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BBB Complaint Process

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

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