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San Diego, Orange and Imperial Counties
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Description

This company offers mortgage brokerage services.

BBB Accreditation

A BBB Accredited Business since

BBB has determined that Sovereign Lending Group Incorporated 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 the rating for Sovereign Lending Group Incorporated 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 Summary Read complaint details

1 complaint closed with BBB in last 3 years | 1 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

0 Customer Reviews on Sovereign Lending Group Incorporated
Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 0
Negative Experience 0
Total Customer Reviews 0

Additional Information

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BBB file opened: October 23, 2013 Business started: 03/07/2005 in CA Business started locally: 03/07/2005 Business incorporated: 03/07/2005 in CA
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:

California Bureau of Real Estate
1651 Exposition Blvd, Sacramento CA 95815
http://bre.ca.gov/
Phone Number: 1 (877) 373-4542
Fax Number: (916) 263-8641
The license number is 01516574.

Department of Business Oversight (DBO)
7575 Metropolitan Dr #108, San Diego CA 92108
http://www.dbo.ca.gov/
Phone Number: (866) 275-2677
Fax Number: (619) 682-7217
The license number is 603J231.

Type of Entity

Corporation

Business Management
Mr. Daniel Holtz
Contact Information
Principal: Mr. Daniel Holtz
Number of Employees

15

Business Category

Mortgage Brokers

Alternate Business Names
Sovereign Lending Group
Industry Tips
Financial Industry Foreclosure Rescue Companies Loan Modifications

Additional Locations

  • 18400 Von Karman Ave #550

    Irvine, CA 92612 (800) 817-0201 (949) 509-2900

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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

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BBB reports on known significant government actions involving business' marketplace conduct.

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Additional Phone Numbers

  • (800) 817-0201(Phone)
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Complaint Detail(s)

9/4/2014 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: Sovereign Lending contacted me about refinancing my home. During our conversation I stressed that I have been through this process many times and my home does not appraise enough to refinance. I did not want to proceed. I was promised over and over by Arjun D. *****, Mortgage Banker, that if the loan would not go through, I would get a full refund for my expenses. There seemed to be no doubt that he will be able to get me the loan. I have many emails and a voice mail from Mr. ***** promising me the refund, so I proceeded with the paperwork. My expenses include a $500 cash advance to my credit card, a $25 fee for the cash advance, 24% interest on that cash advance and a $20 fee from Sovereign Bank for a faxed payoff statement. I have all documentation of expenses. With no surprise to me, my home did not appraise enough to refinance as Mr. ***** had expected. I have contacted Mr. ***** numerous times over the past three weeks to give me confirmation on the refund. He has communicated back, but has yet to confirm a date of the refund. I appreciate everything Mr. ***** tried to do, but I informed him at the beginning of the issues I've had before. All I am asking is for the refund that I was promised all along.

Desired Settlement: I want to be reimbursed for my expenses as promised in emails and verbally in a voice mail.

Consumer Response: I have discussed my situation with a representative of Sovereign Lending & have come to an agreement that is greatly appreciated. I am considering this claim resolved to my satisfaction. Regards, ******** *****

BBB's Final Determination: Consumer accepted resolution offered by the business.