This business is not BBB accredited.

Marketplace Home Mortgage LLC

Additional Locations

Phone: (952) 831-3111 View Additional Phone Numbers 7380 France Ave S Ste 200, Edina, MN 55435 View Additional Email Addresses http://www.marketplacehome.com View Additional Web Addresses


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BBB Accreditation

This business is not BBB accredited.

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

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


Reason for Rating

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

Factors that affect the rating for Marketplace Home Mortgage LLC 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


Customer Complaints Summary Read complaint details

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

Customer Reviews Summary Read customer reviews

3 Customer Reviews on Marketplace Home Mortgage LLC
Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 0
Negative Experience 3
Total Customer Reviews 3

Additional Information

BBB file opened: July 07, 1997 Business started: 12/01/1995 Business started locally: 12/01/1995
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:

Minnesota Department of Commerce
85 7th Pl E Ste 500, Saint Paul MN 55101
http://www.commerce.state.mn.us
Phone Number: (651) 539-1500
general.commerce@state.mn.us

Minnesota Secretary of State
180 State Office Bldg, 100 Rev. Dr. Martin Luther King Jr. Blvd., Saint Paul MN 55155
http://www.sos.state.mn.us
Phone Number: (651) 296-2803

Type of Entity

Limited Liability Company (LLC)

Business Management
Keith White, President Mike Beerling, Controller Michael Bergum, CEO Dar Medcalf, AVP Human Resources Jon Peterson, Branch Manager/VP
Contact Information
Principal: Keith White, President
Business Category

Mortgage Brokers Reverse Mortgage Mortgage Lender

Service Area
Minnesota, Wisconsin, Iowa, Nebraska, North Dakota and Florida.
Alternate Business Names
Loans at Wholesale.Com LLC Marketplace Home Mortgage East LLC Marketplace Home Mortgage West LLC
Products & Services

According to the information provided by Marketplace Home Mortgage LLC, they offer residential mortgage broker services, specializing in FHA loans.


Customer Review Rating plus BBB Rating Summary

Marketplace Home Mortgage LLC 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

  • THIS LOCATION IS NOT BBB ACCREDITED

    10160 Foley Blvd NW Ste 200

    Coon Rapids, MN 55448 (763) 786-8500

  • THIS LOCATION IS NOT BBB ACCREDITED

    14300 Nicollet Ct STE 300

    Burnsville, MN 55306 (952) 882-0040

  • THIS LOCATION IS NOT BBB ACCREDITED

    1501 E Superior St

    Duluth, MN 55812 (218) 728-3322

  • THIS LOCATION IS NOT BBB ACCREDITED

    610 Main St N STE 100

    Stillwater, MN 55082 (651) 439-4941

  • THIS LOCATION IS NOT BBB ACCREDITED

    7100 Northland Cir N Ste 119

    Brooklyn Park, MN 55428 (763) 432-4640

  • THIS LOCATION IS NOT BBB ACCREDITED

    7380 France Ave S Ste 200

    Edina, MN 55435 (800) 900-4135 (877) 436-8600 (952) 831-3111

  • THIS LOCATION IS NOT BBB ACCREDITED

    800 S Plaza Dr

    Mendota Heights, MN 55120 (651) 256-2050

  • THIS LOCATION IS NOT BBB ACCREDITED

    8360 City Centre Dr

    Woodbury, MN 55125 (651) 379-0371

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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)

6/11/2014 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: Market Place Home Mortgage misrepresented me and I was treated unethically. They use unethical business practices, were dishonest & tried to trick me. I was working with Tony Miller who at the time worked for Keller Williams. Tony found a property on 801 Livingston Ave, St. Paul, MN 55107. Tony told me Draco Properties was willing to do a Contract for Deed. I agreed but I've never done a CD before so I thought my realtor (Mr Miller) would make sure everything is correct. I signed the Contract for Deed on April 1, 2011 and it was a 2 year CD. My CD agreement stated that I NEED to work with Anthony J. Kozlak with Wells Fargo Home Mortgage. I started working with a credit restoration person to start cleaning up my credit so when my 2 yrs are up I would qualify for a mortgage to purchase the house. April 2012 came around the owner of the house (Quint Pillai) called and demanded I talk to AJ Kozlak about trying to get a loan. I knew I wouldn't qualify yet But Mr. Pillai kept calling and threatening me that if I don't contact Kozlak he would pull my CD and I will lose my down payment and he wanted me out of the house. So I contacted Kozlak and he pulled my credit and my score wasn't high enough. January 2013 I was ready to try and secure financing for the house. Again, I contacted AJ Kozlak because they (Quint & Tony) said I had to work with AJ. I tried to contact Kozlak at WFHM but he moved to Market Place. Now at this point I didn't know Kozlak no longer worked for WFHM. Tony didn't inform me of this, but he knew. The CD said I NEEDED to work with AJ Kozlak at WFHM (he no longer works for WFHM). Because it stated I need to work with AJ Kozlak, in my CD contract I called AJ and he started working on financing. That's when I noticed that he was no longer at WFHM; emails were from Market Place Home Mortgage. Throughout the process I received the paperwork and noticed on the paperwork that the purchase amount was not correct. I contacted Kozlak because the $20,000 down payment was being used for other things and it was supposed to be deducted from the purchase price of the house. I called and questioned all the different fees. For example, the $5,910 was the seller's portion. Well they tried to sneak it in and deducted it from my $20,000. I argued with them about it. I called & talked to Tony about it. I also looked at the paperwork and notice that AJ Kozlak's name wasn't on the paperwork it was someone name Mario LeBlanc. Who is Mario LeBlanc? "WHY is LeBlanc on the paperwork and not Kozlak. I told Kozlak I was not signing anything until he changes the information. So I started to question things and found out that Kozlak didn't want to sign the paperwork because he had interest in the house I was purchasing and they never told me that. So he had Mr. LeBlanc put his name on the paperwork because that was a conflict of interest. Why wasn't this told to me early or at all? Kozlak didn't have my best interest because he had interest in the property. I was really upset, now at this point I do not trust any of them.!st no one told me that Kozlak moved from WFHM to Market Place (Tony knew), 2nd no one told me that Mr. Kozlak had investment interest in the house (Tony knew) and Tony never fought for me to get Seller Concessions (which I didn't know what that was) 3rd they tried to trick me into paying the owner's fee ($5,910) out of my down payment. After I found out, I decided to call a different loan company to look over the purchase agreement. I went to iLoan and ILoan said they were defiantly doing some unethical business practices. They didn't give me any Seller Concessions, they tried to deduct the owner's fees out of my down payment and tried to get me to sign their purchase agreement with Mr Blanc information. Also, Kozlak took a file from WHFM to Market Place. Heidi at ILoan found a mechanical lien on the property that no one told me about. If I went with Kozlak they would have left the Mechanical lien on the property. ILoan found it.I talked to an attorney Aaron Lorentz who said there were a lot of unethical business practices that was crossed. This was a NIGHTMARE!

Desired Settlement: I was absolutely outraged by the business practices conducted by 2 representatives of Market Place Home Mortgage with **** ****** and ***** *******. From the beginning of my lease/purchase agreement I was instructed by *************** to secure my mortgage with ***** ****** of Wells Fargo, who is now an employee of Market Place Home Mortgage. I agreed to these terms unsure why the seller suggested this. It was recently disclosed to me by ***** also known as ************ ******, had invested interest in the home (********** property). This was only disclosed to me when I questioned who was ***** ******* and why did my disclosures list him as my loan originator as well as Marketplace Mortgage as the mortgage company. I also questioned the closing cost and the $5,910 deduction from my 20k down payment. At that time,*** informed me he couldn't be listed as the loan originator as he was a party to the sale be rest assured he was the one doing my loan. I had no idea he was a party to the transaction nor the fact that he was no longer with Wells Fargo Home Mortgage. How would this be in my best interest? I was under a false pretense that I was securing an unbiased mortgage with a reputable company and one that I'm familiar with. I currently had another mortgage with Wells Fargo so I was comfortable with securing a loan through WFHM. I had no idea Marketplace Mortgage was involved, pulling my credit, obtaining my financial records, etc as I did not authorize this transaction. This is a very unethical business practice to say the least. I secured a loan with ILoan. My request is that I never got my Seller Concessions which would of been 6% = $11,820 and for the distress the 2 representative caused.

Business Response: Initial Business Response /* (1000, 10, 2014/05/13) */ RE: Response to case #********* ********* ******** To whom it may concern, From the results of our review, we find Mrs. ******** complaint is misleading and find no instances of Marketplace Home Mortgage or it's employees being unethical or dishonest. Mrs. ******** entered into an agreement to purchase a house in 2011. Per her statement Marketplace was not involved with any part of it. No one involved with the transaction at the time had any affiliation with Marketplace Home Mortgage. Mr. ****** did not become employed by Marketplace until November 2012. At that time, Per Mrs. ********'s testimony, she was working with Mr. ****** to get her poor credit history repaired. In our investigation we discovered she was not required to get a loan through Mr. ******, she was to work with him to prove she was eligible for a loan. When Mrs. ******** was ready to apply in April 2013, Mr. ****** correctly and in good judgment referred the loan to another Loan Officer. Mrs. ******** was referred to Mr. ******'s branch manager Mr. ******* to complete the application process. Mr. ******* prepared the application based on the contract for Deed that Mrs. ******** had signed. After the documents were sent to Mrs. ******** she contacted Mr. ******* and explained her reservations with proceeding with the loan application with him. Mr. ******* stated he would abide by her wishes to not apply with Marketplace and in fact, aided Mrs. ******** in transferring her information to a Loan Officer at Wells Fargo. That concluded any involvement Marketplace had with Mrs. ******** and her purchase. It seems, Mrs. ********'s complaints are with those companies and individuals that were part of the transaction to begin with, Her Real Estate Agent, ****************, or ************. None of whom have ever had any involvement with Marketplace Home Mortgage. Mr. ******* treated Mrs. ******** interest with the greatest of care and consideration. Marketplace had no control or detail knowledge of the transaction and is not responsible for Mrs. ******** not receiving any items of her purchase agreement. In Conclusion, our investigation finds Mrs. ********'s interest were clearly made the highest priority by all employees of Marketplace Home Mortgage and she received professional and ethical service during the short time she was considering applying for a loan. Initial Consumer Rebuttal /* (3000, 12, 2014/05/15) */ (The consumer indicated he/she DID NOT accept the response from the business.) The complaint filed with BBB is not misleading it is all factual. ******* J. ****** is an employee of Marketplace Home Mortgage and was my loan officer throughout my process of getting financed. I worked with Mr. ****** when he was with Wells Fargo Home Mortgage and then moved to Marketplace. My loan was moved from WFHM to Marketplace, which I'm sure that's unethical to move files from one company to another. ********** was dishonest because he kept very important information that should of been disclosed to Mrs ********. Mr. ****** had an invested interest in the property I was purchasing and that is a conflict of interest. That information was not disclosure to me(Mrs. ********) by Mr. ******, I found this out. Mr. ****** told me this himself, that he had invested interest in this home. That's a conflict of interest, when the loan officer has invested interest in the property and processing the loan. That's conflict of interest which is unethical business practices. Marketplace was processing my loan until I found out that Mr. ***** was withholding valuable information and I pulled my loan from Marketplace because I did not trust Mr. ****** or Marketplace. I have documentation proving that Mr. ****** was processing my loan. Per your response, I was not working with Mr. ****** to repair my credit (so that statement is false). My lease agreement/CD states, that I NEED to work with **** ****** to secure financing. It was one of the stipulation of my CD agreement. Per your response you stated my loan was referred to Mr. ******* to complete. Mr. ****** should have never referred my loan to anyone else without my knowledge or permission. Per you response, I only signed an application with Marketplace to start the finance process because I was suppose to work with ** ****** but ***** ******* information was on the paperwork (which I never signed the final documents). The only conversation I had with Mr. ******* was who are you and why is your name on my paperwork if I'm working with Mr. ******?? That's when I became suspicious and I called Mr. ******* to ask him WHY his name on my paperwork and I don't know who he was. Again, unethical business practices. That's when Mr. ****** said he couldn't have his name on the paperwork because he had interest invested in the property I was buying. Conflict of interest. That's when I started to look into things and pulled the loan from Marketplace and went to a different company. Per your response, Mr. ******* did not help me transfer my loan to someone else. I found a didn't company and I had that company look over the paperwork Mr. *******/Mr. ****** tried to get me to sign. Mr. ****** admitted to having an interest in the home and never disclosed that IMPORTANT piece of information to his client (Mrs. ********). My complaint is directed to the right companies/persons. Marketplace Home Mortgage Place, Mr. ******* and Mr. ******. Final Consumer Response /* (3000, 15, 2014/05/27) */ The consumer indicated he/she DID NOT accept the response from the business.) The complaint filed with BBB is not misleading it is all factual. ******* J. ****** is an employee of Marketplace Home Mortgage and was my loan officer throughout my process of getting financed. I worked with Mr. ****** when he was with Wells Fargo Home Mortgage and then moved to Marketplace. My loan was moved from WFHM to Marketplace, which I'm sure that's unethical to move files from one company to another. ********** was dishonest because he kept very important information that should of been disclosed to Mrs ********. Mr. ****** had an invested interest in the property I was purchasing and that is a conflict of interest. That information was not disclosure to me(Mrs. ********) by Mr. ******, I found this out. Mr. ****** told me this himself, that he had invested interest in this home. That's a conflict of interest, when the loan officer has invested interest in the property and processing the loan. That's conflict of interest which is unethical business practices. Marketplace was processing my loan until I found out that Mr. ***** was withholding valuable information and I pulled my loan from Marketplace because I did not trust Mr. ****** or Marketplace. I have documentation proving that Mr. ****** was processing my loan. Per your response, I was not working with Mr. ****** to repair my credit (so that statement is false). My lease agreement/CD states, that I NEED to work with **** ****** to secure financing. It was one of the stipulation of my CD agreement. Per your response you stated my loan was referred to Mr. ******* to complete. Mr. ****** should have never referred my loan to anyone else without my knowledge or permission. Per you response, I only signed an application with Marketplace to start the finance process because I was suppose to work with ** ****** but ***** ******* information was on the paperwork (which I never signed the final documents). The only conversation I had with Mr. ******* was who are you and why is your name on my paperwork if I'm working with Mr. ******?? That's when I became suspicious and I called Mr. ******* to ask him WHY his name on my paperwork and I don't know who he was. Again, unethical business practices. That's when Mr. ****** said he couldn't have his name on the paperwork because he had interest invested in the property I was buying. Conflict of interest. That's when I started to look into things and pulled the loan from Marketplace and went to a different company. Per your response, Mr. ******* did not help me transfer my loan to someone else. I found a didn't company and I had that company look over the paperwork Mr. *******/Mr. ****** tried to get me to sign. Mr. ****** admitted to having an interest in the home and never disclosed that IMPORTANT piece of information to his client (Mrs. ********). My complaint is directed to the right companies/persons. Marketplace Home Mortgage Place, Mr. ******* and Mr. ******.


Customer Review(s)

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Customer Reviews Summary

3 Customer Reviews on Marketplace Home Mortgage LLC
Positive Experience (0 reviews)
Neutral Experience (0 reviews)
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