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BBB Accreditation

A BBB Accredited Business since

BBB has determined that Paramount Equity Mortgage, LLC 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.

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Reason for Rating

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

Factors that raised the rating for Paramount Equity Mortgage, LLC include:

  • Length of time business has been operating
  • Complaint volume filed with BBB for business of this size
  • Response to 55 complaint(s) filed against business
  • Resolution of complaint(s) filed against business


Customer Complaints Summary Read complaint details

55 complaints closed with BBB in last 3 years | 34 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 9
Billing/Collection Issues 1
Delivery Issues 1
Guarantee/Warranty Issues 2
Problems with Product/Service 42
Total Closed Complaints 55

Customer Reviews Summary Read customer reviews

14 Customer Reviews on Paramount Equity Mortgage, LLC
Customer Experience Total Customer Reviews
Positive Experience 4
Neutral Experience 1
Negative Experience 9
Total Customer Reviews 14

Additional Information

BBB file opened: February 02, 2004 Business started: 09/03/2003 in CA Business incorporated 08/05/2011 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:

Department of Business Oversight
1515 K St. Suite 200, Sacramento CA 95814
http://www.dbo.ca.gov
Phone Number: (866) 275-2677
The number is 4170047.

Type of Entity

Limited Liability Company (LLC)

Business Management
Mr. Matthew Murray, Chief Marketing Officer Mr. Hayes Barnard, Founder Mr. Mike Berte, President Mr. Matt Dawson, VP of Mortgage Operations Mr. David Lippe, Vice President Ms. Michele Magee, Chief Marketing Officer Mr. Narish Parsad, Marketing
Contact Information
Principal: Mr. Matthew Murray, Chief Marketing Officer
Business Category

Mortgage Brokers Mortgage Lender Real Estate Real Estate Services Loans Real Estate Loans

Service Area
BBB serving northeast California is the HQ BBB for Paramount Equity Mortgage. Complaints are referred to them for processing. The company is currently doing business in Oregon, Washington, California, Arizona, Virginia and Utah.
Industry Tips
Payday Loans & California Law Ways to Pay off Student Loan Debt Who to Turn to With Your Home Loan Modification

Customer Review Rating plus BBB Rating Summary

Paramount Equity 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

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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)

7/27/2016 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: I was informed I was approved for a refinance and bill consolidation. I was made to pay 450.00 for an appraisal. The appraiser made certain repair requirements to my home at the cost of 450.00 to continue with the loan. Paid and made the repairs. After a long process of exchanging phone calls paperwork which took about two months. I was informed via mail I was not approved. The customer rep assured me I was approved, made me pay for house repairs and appraisal. Please do not waste your time and money with this company.

Desired Settlement: Refund for the appraisal.

Business Response: Our Records indicate we are we are sending the borrower a check for $450.00 appraisal refund.

Consumer Response:  
Better Business Bureau:

I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me.

7/20/2016 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: I initially sought to switch from a 30 year loan to a 15 year loan. The loan officer went through gathering my information and ordering the appraisal. I voiced concerns of the appraisal coming in too low, and asked how that would affect my loan. Instead of answering my questions he instead prattled on about how it couldn't possibly come in that low. It came in low and the loan would have to be modified in order to qualify. I directly told the loan officer to cancel my refinancing twice. Instead of doing so, he continued to negotiate new changes to the loan over the course of seven days. In a text message, the officer stated "I didn't cancel the loan I wanted to work on it first. I have a solution give me a call". This is a blatant disregard of my direct and exact statement to close the refinance "All I want to shave off is my disappointment. Cancel my refinance". This is a flagrant abuse of customer trust, and a mishandling of my business. When I brought up the concerns listed in this complaint, the loan officer got defensive and called me hostile. He then insulted my integrity by claiming that I was being too negative and giving up too easily.

Desired Settlement: Listen to your customers. Comply to demands to cancel actions. Cancel my loan. Never contact me again.

Business Response: Our records indicate that customers contact information has been put in DNC for all forms of contact. Our EVP of Sales **** ******* has attempted to reach borrower and left a voicemail.

Consumer Response:


Better Business Bureau:

I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me.

**** asked that I get in contact with him, which I did. We discussed the issues that rose up, and he was very fair throughout the conversation.


7/13/2016 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: Mortgage Broker kept playing with the numbers on the loan application , when i asked them about them i was told it doesn't show on the end. I had them redo to loan application two time and still tried to sneak in bogus figures and costs. when i got tired of dealing with ****** ******** ***** ****** i was passed onto his Boss **** ******** who was an even bigger lair i finally got tired of them and told them i wasn't interested don't call back but i kept. getting calls so i had to resort in having there number blocked.

Desired Settlement: No need to contact me any further.

Business Response:

Paramount has removed Mr. ****** from all records. Mr. ****** email and phone number have been added to the DNC list.

6/14/2016 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: In September of 2015, I and my wife applied to refinance our primary home loan with Paramount Equity Mortgages, LLC. Our application was handled by *********** *****, senior mortgage specialist who guaranteed that our refinance application would go through because they have handled similar applications before and the financial numbers met their criteria. After we supplied Mr. *********** with all the requested financial and personal information, he re-stated the guarantee that the loan will be closed within 30 to 45 days. We explained that our situation was a little bit more complicated because we had a secondary loan from HCILDA (Los Angeles Housing Community Investment Department) and a subordination request will need to be made. We provided *********** and subsequently all the staff who handled the processing of the case with direct contact numbers of HCILDA and even began a three way email conversation between all parties involved to make sure the process goes through smoothly. HCILDA provided them with the forms and instructions required to process the request and indicated they would be willing to subordinate. After more than than six months of trying to close the loan, Paramount failed to complete the process of closing the loan because they did not follow the simple and clear instructions explained in the form from HCILDA for subordination. During their first attempt the forms were sent to incorrect address without the processing payment. On the second attempt the forms were incomplete/missing requested documents. Finally on the third attempt everything was provided correctly and HCILDA agreed to subordinate. However, by that time, the case was open for over six months and the rate lock was extended for so long, Paramount could not close the loan. *********** explained in the email we would restart the process with a new loan in one month due to regulations. After one month passed, *********** did not respond to inquiries and interest rates went up causing us to lose on good rates.

Desired Settlement: To resolve this matter, we would like Paramount to either: 1) honor their promise and refinance our loan at competitive market rate or, 2) refund our expenses incurred, i.e. appraisal costs paid for the home in the amount of $450 due to the expectation and promise that the loan will be finalized, but was not.

Business Response: Thank you for providing this information. We are looking into the file on our end.

Business Response:

Our records indicate that the original team working on this file have made contact with the customer and are working redoing this file.

Consumer Response:

 
Better Business Bureau:

I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me granted we are able to close the loan.

Currently, we are working again to redo the refinance and so far they have been communicating well and informing me of the status of the case. They have accepted responsibility for the mishandling of the case first time around, and seem to be sincere in wanting to resolve the complaint. They've indicated, that there aren't any obstacles going forward and achieving a resolution. The issue has not yet been resolved, but they've put a good faith effort thus far and I'm optimistic we will be able to achieve our goal.


6/2/2016 Billing/Collection Issues | Read Complaint Details
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Additional Notes

Complaint: I was refinancing my home as I had been through a divorce and needed to get my ex-spouse off of the mortgage and loan. I was contacted by Paramount Equity Mortgage after I had spoken with another Loan Agency, Quicken Loans. The lady from Paramount was able to get me locked into better circumstances and also let me know that there would be no cost to me going into the loan. I let her know that I also would not have any reserves or payments and this was not an issue or a concern when I was first starting this loan process. I had started E-signing documents on February 2nd, 2016. I had to supply documents throughout the next few weeks and a few weeks into the process was stated that I was going to need to pay out of pocket for an appraisal that was going to cost 495.00. I questioned this as I was originally told that there would be no out of pocket expenses, I got the appraisal done, by home came out at 216,500. The loan amount that I am requesting was for 133,000 to debt consolidate and pay the remaining loan off. Long story short, we finally closed all of the documents signing at the end of March, I met with a notary on Easter Sunday to complete the signing of all of the papers. I was told by my loan officer that I would not have a Payment in May and that my first payment would be due June of 2016. I did not read all of the papers I was signing on Easter as I believe I signed and initialed about 50 times, there was a page that was signed that stated my first payment was due May 1st. I was sent a payment notice for May 1st to Paramount and in the same week was notified that my loan had been sold to Freedom Mortgage as of April 16th, 2016 less than 30 days after my original loan closed. I have texts and also an email stating I had no May Payment, Paramount is requesting I make my May payment to them even though they don't carry my loan anymore. Freedom Mortgage is stating my first payment to them is due June 1st, which was what I was originally told and believed to be true.

Desired Settlement: I would like first to know why I am making a payment to Paramount for May when they no longer have my loan and also I would like this payment dropped as I have an email stating I do not have a payment until June 1st and also a text message from my loan officer stating I do not have a payment due in May.

Business Response: Thank you for this information. We are looking into the file on our end and will attempt to contact the customer in regards to the requested refund and information. 

Consumer Response: I am rejecting this response because: I am working on speaking with a **** ******* right now, I missed his phone call and have not had the opportunity to contact him until today, have left a voicemail this morning.

Business Response: The company has completed its research on this matter and we spoke to the customer.

6/1/2016 Problems with Product/Service
6/1/2016 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: I recently refinanced a loan through Paramount Equity Mortgage. I completely regret and wish theres a way to undo this. I was working with ******* ******* out of the California office and I had and am still having the worst experience of my life. At first, ******* was great. He seemed like he really knew his stuff but he was basically lying to me the entire time. Every time I'd ask him a direct question, he would talk in circles and throw out a bunch of information irrelevant to my questions. He would just say its hard to explain but trust me. Here was the situation, he convinced me to switch to an FHA loan because I would save so much money etc. And yes, in 30 years I will end up saving money. When the documents were prepared, I noticed a $4,033 upfront PMI fee on there and I questioned it. ******* told me over and over that I did not have to pay this fee. It would just hover over my loan as "insurance" in case I foreclosed on the house and then I would have to pay it. While his response was favorable, I still didn't feel comfortable about it so I decided I wasn't going to go ahead with the loan. ******* came back and guilted me into going forward with the loan. Promising me that I didn't have to pay this $4k. I even have an email saying the same. So I said ok maybe I'm just being paranoid. If he's willing to put it in writing than it must be true. So the closing and came and went. Not even 2 weeks after my closing, my loan was transferred to another mortgage company. I called the new mortgage company and asked them about this $4,033 to confirm I did not have to pay it. The new company sounded completely confused and didn't understand why my loan officer would tell me this. So I call ******* back and he still insists that I don't have to pay this money. I ask him for proof or something official so I can go over it with the new mortgage company and he has yet to provide me any information. He basically closed my deal and stopped replying to my emails. He refuses to give me his manager's # etc

Desired Settlement: I would have never gone through with this loan if I had known I had to pay this $4,033 and now I'm stuck with it? It doesn't seem right to me. It's *******'s fault for providing me with false information. I work in insurance and if I assured someone in writing that they did not have to pay money and I was wrong? I would be on the hook for that money so I believe Paramount should be on the hook for this as well. I also think they need to re-evaluate this loan officer and his professionalism.

Business Response:

Thank you for this information. We have looked into the file and our records indicate our District Sales Manager has attempted to make contact by leaving a voicemail.

Consumer Response:


Better Business Bureau:

I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me. The district managers, ******* ******, was extremely sincere and helpful. He responded very quickly and is working to get my refund issued. I would like to retract my complaint if possible.

Sincerely,

******** *******


5/25/2016 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: I selected Paramount Equity as the mortgage broker to handle a simultaneous purchase and refinance. At first the mortgage specialist was very pleasant to work with and responsive. Confusion began when I was passed off to the loan officer. The loan officer was not updated on information that the mortgage specialist and myself had discussed, or on documentation that I had provided. So I would get requests for information that I had already provided. I was patient with this as I understand confusion occurs from time to time. However, my main issue is that the proceeds that I received after the settlement of the refinance was almost $800 short. When I emailed the mortgage specialist she came back with a reason for the shortage which sounded like an error on Paramount’s end. My response was that I expect to be paid according to the closing documents that were signed at settlement. I have made numbers attempts since that email to contact the mortgage specialist as well as her District Manager to discuss and they have been non-responsive.

Desired Settlement: I expect to be paid the moneys as agreed to on the closing documents.

Business Response: Thank you for this information. We are looking into the file on our end and will attempt to contact the customer in regards to the requested refund.

Consumer Response:

I am rejecting this response because:

I do not feel the issue has been resolved. 


Business Response: Our records indicate that the file has been review and title will be refunding the requested about of $787.00. The check will be cut directly to the borrower.

5/10/2016 Guarantee/Warranty Issues | Read Complaint Details
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Additional Notes

Complaint: 1. paramount said if I supply them with a better offer they will meet or beat the offer, competitor had offer of included appraisal, this company made me pay for the appraisal 2. paramount customer representative very unstable, spoke to about 20 different people in my process, with competitor only a couple of years ago only spoke to 1. 3. parmount loan representative tried to bully my insurance company into giving them information, now mind you I'm in a contract and on paper it's OK for them to request this information from my insurance company and this I 110% completely understand. They did request the information and my insurance company stated that my home would not have coverage until the loan with paramount was closed. They called my insurance company to explain the information during a 3 party call, Yes, I was on the phone. My insurance company didn't answer and he left a message then said "I have xxxx on the phone, xxxx can you confirm", I stated this is xxxx on the phone Yes. My insurance company calls me back approximately 10 minutes later stating this individual called them back again and stated that I had left permission on the voicemail to release this information. What? No, that was not my consent. 4. paramount loan rep sent me a text message stating "I would hate to see you throw away $500 on an appraisal based on something as simple as a request for home owners insurance but ok lol. So they called my insurance company trying to bully them into giving them full control of my home owners insurance prior to the loan being closed, then they state I gave them permission to do so and not they are moking me for paying for an appraisal which they really don't care about. 5. as a potential customer of paramount I am extremely disappointed in there character and business professionalism. the loan still needs to be closed... 6. I'm still waiting for a call back from a manager or someone of importance from this company so figured this should speed up the process, talk soon......

Desired Settlement: close my loan, refund my appraisal fee since the better offer supplied wasn't honored, let me move onto a company that will help me get this nightmare over with

Business Response:

Our records indicate the loan was completed this weekend, 5/7 and the desired settlement was reached. If you believe the desired solution has not been reached, please provide additional information so we may assist you in reaching you further.

 

Thank you!

Consumer Response:

I am rejecting this response because:

 even thought the loan was signed I'm not happy with the overall experience, but since it's done I guess I'll have to agree with the offer I was given, the company still did not honor it's meet or beat clause it presented to me.  They'd have to beat a free appraisal as given to them, but whatever.


5/1/2016 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: I was contacted by Paramount to refinance my home. They felt the best way was a VA. loan. I told them I did not want to pay out any money unless they were sure they could do it. Here we are ,two months later and $400.00 out of my pocket for a home apprasial and I am no closer to refinancing then when we started. Their website says they are A+ rated by the BBB. is that true? I have been told that the process is not all legal, and the paperwork I see is not the same as the final documents. As of right now I have not heard from them for two weeks and no longer want to do business with them! I feel they forced me to spend money on an apprasial knowing that the loan would not go thru!

Desired Settlement: Refund my money, return all of me personal information and leave me alone!

Business Response:

Mr. **********

We apologize that we were not able to complete your loan and prove to you that we pride ourselves on taking care of the homeowners we are able to help every day.  As a courtesy, we are refunding the appraisal fee, which I will happily expedite and hope that you will allow us to redeem ourselves and prove to you that we are always striving to offer exemplary service.

We would welcome the opportunity to answer any questions you may have about a mortgage loan and will only provide you with accurate information related to any loan program.

Should you need any assistance, please contact me directly at (**** ********.

**** **** *** **** ********

Consumer Response:  
Better Business Bureau:

I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me. I hope that all my personal info. will be removed!

4/22/2016 Guarantee/Warranty Issues | Read Complaint Details
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Additional Notes

Complaint: I closed two weeks ago and was guaranteed I would have my money within three days and everything I included would be paid within that time frame well I received my money almost two weeks after I signed and all my debts still haven't been paid I got a call from a credit card company saying I was negative on my credit report because I was advised not to pay anything and now I'm late on everything and my credit is taking a toll this company has been the absolute worst to deal with I can never get a truthful answer I called today to see why my funds haven't been sent out and the lady I spoke with said she didn't know why but she would work on this company doesn't deserve to be around they are ridiculous.

Desired Settlement: Get my negative credit fixed

Business Response:

Thanks again for the call.  On this complaint, we are doing two things.  First, we have been trying to reach Mr. ******** about the issue.  *** ****** *** **, has been doing this.  Before we can try and resolve the issue, we need to speak with the customer and get information from him on when things were paid off.  This is not anything we can independently obtain.  Once this is done, we will be contacting the escrow company that sent the checks to see where the disconnect happened and get resolution to the matter.  

Thanks

****

4/15/2016 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: Two months ago, I was contacted by Paramount Equity Mortgage Co. to refinance my house with a ***.loan at 3.66% in the amount of $156,000.My goal was to pay off a nagging $2100.00 credit card. I currently owe $148,000 on my home. I currently have a *** loan at 3.50%. ** requires you pay off all debt. My need was $3500 to pay all debt.I was told the only cost to me was$1000 for title transfer plus $450 for home appraisal and $70 for pest inspection.I paid $520 out of pocket for appraisal & inspection.I'm borrowing $8000 to pay $4500 in expenses at a higher interest rate for 30 yrs.At closing they told me i would get a check in the amt. of $1400.the #'s don't add up. It't been nearly two mos.for this transaction.Too long for a refinance and way too much money.Yesterday I cancelled the transaction because it was taking way too long and the numbers were'nt adding and asked for a refund of $520. They refused. The misrepresented this loan. I feel they were defrauding me and abusing the ** system. I'm not getting back all money I'm entitled to.They swear it's a great deal. It is FOR THEM. to me it defies logic.

Desired Settlement: They claim to be a five star business. They did not perform like one and they were ripping me off in the amount $2000. I want a refund of $520 I paid out of pocket and I want nothing more to do with them.

Business Response:

As the customer stated, Mr. ******* spoke with the customer to understand the issues and come up with a resolution.  The results of that phone call is that we are giving the customer the exact deal he agreed to when he signed disclosures up front and we made an exception to honor the original deal and do not require the additional documentation.  This was all done within 24 hours.  Mr ****** then requested a restructure of the loan to a lower loan amount and rate which is below what he is paying now.  Mr. ****** in now was unwilling to discuss this, hung up the phone, and requested to not be contacted again. By severing lines of communication, and not wanting to move forward, we are unable to fulfill the loan per the terms of the original disclosures.  Because of this, we are unable to refund his money as those are costs we incurred and we are able to offer Mr. ****** the loan at the original terms.  Also, the customer has not been working with us for 2 months and we were still within the lock-in period we all agreed to when Mr. ******* spoke to Mr. ******.

Consumer Response: I am rejecting this response because I never asked for anything to be restructured!!  Mr ******* said he would look into matter. I made it crystal clear during his origional call that the transaction was terminated. Mr. ******* interrupted me every time I tried to give my side of the story or explain any issues.

Business Response:

While it appears there is a mis understanding as it relates to the restructuring of Mr. ******** loan, Mr. ******* did honor the original loan terms as outlined in the disclosures Mr. ****** signed.  Because of this, and the fact that the services that were paid for up front were performed, we will not be refunding Mr. ****** his fees.  This policy is clearly outlined in the attached Advanced Fee disclosure that Mr. ****** signed.  We would be happy to complete the loan for Mr. ****** if he so chooses.

Consumer Response: I am rejecting this response because:You did no honor the origional terms. You wanted me to remortgage my home for $156,000 for 30 yrs. @3.625% to pay off a $2100 credit card debt. I currently $148,000 w/23 yrs. remaining @ 3.50%. I told you from the beginning it made no sense. So you wanted me to borrow $8000 to pay off a $2600 credit card debt and a $900 furniture bill with a $1000 title transfer fee . That was all it was supposed to cost me as I was told this by your loan officer **** ********. Add up those numbers and it comes to $4500.  I assumed I would get back $3500 at closing, not $1400 as quoted by your ******** ******* **** *******. Your people deceived me in many ways. I will never do business with you and certainly won't be recommending to anyone else.

4/6/2016 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: I contacted Paramount Equity in regards to obtaining a cash out refi in early January. I worked directly and solely with ***** *******. In the initial correspondence with *****, I provided ALL documentation that he requested in regards to meeting Paramount Equity's pre-approval criteria. ***** looked over my info and told me I would be approved for a refi loan. ***** then asked me to pay the $495 appraisal fee, he assured me he wouldnt ask for the fee if he didnt feel I would be approved by underwriting. He also stated the fee would be refunded if there were any issues moving the loan forward. ***** also ran my credit 4 times in one week which lowered my score by 40 points. I asked why would he run it so much, He told me the score drop would not effect me. Fast forward to late february. I was told since I had a charge off from 2010 and a old lien (which I paid for and had corrected cause I was told things would move foward after clearing up) I wouldn't be approved. I have left message/emails several times to both ***** ******* and **** **** (**** *********) asking why wasnt this looked at back in January before appraisal was done. There has been a lack of customer service with this company. Has been over 45 days.

Desired Settlement: I would like a full refund of $495.00 appraisal fee and the 4 unnecessary credit inquires removed from my credit report asap, and no further contact with Paramount Equity Mortgage.

Business Response:

Ms. *************

Thank you for bringing this concern to me.  I have completed my research on the issue and found that we are still working with the customer and trying to secure their loan.  This should be done in the next 30 days at which time I will send an update to this complaint.

Thanks for your time.

****

4/4/2016 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: I read these reviews before I began my business with Paramount Equity Mortgage on March 9, 2016, and thought it was just a few unhappy customers making claims. I truly did not want to write this review but they took my money. In fact Mr ****** and I discussed these complaints before we started. It saddens me to report this, but I too have had a horrible experience with this company. First of all, after speaking with a rep named ****** ******, he told me I was qualified for their loan program to refinance my mortgage. He told me I would refinance for $424 to cover everything. On March 10, 2016 I provided him with all the necessary documents and he told me my loan would take about 20 days instead of 45 because my response was so fast. He asked me for an appraisal fee of $495 and I paid it the same day. The appraiser was scheduled to come to my home on Saturday March 12, 2016. Well, by Monday afternoon I was told I did not qualify because my appraisal came back at $445. They told me it was too low and they could not work with me. "Denied" I have been going back and forth with Mr ****** to get my money back because if feel ripped off. Not only did they debit my card once, but twice. The first debit of $495 cleared on the 14th and a second debit cleared my account on the 18th after pending for 4 days. I have been asking them to refund my money and they cannot seem to get it done. I keep getting excuses and still to this date it is not done yet. Mr ****** keep telling me he is working on it and gives me excuses. I called my bank (***** *****) immediately and they told me that it will take 15 days to settle this and in the meantime my bank is overdrawn with all types of overdraft fees because of that second payment. The bank says they are familiar with this company and is giving them time to reverse the charges before they step in. I have called emailed, and texted them everyday and all I get is "They are working on it" This is not fair to consumers like me. It is a Ripoff.... I want my money back into my bank account. The entire $990 needs to be refunded because they are not an honest company. They lead me to believe I would refinance my mortgage loan for a lower rate, and save money.... But they stole my money and did not provide me the service they promised. I need a resolution... I am not happy at all with this transaction.

Desired Settlement: I would like to have a full refund of $990 and overdraft fees and late charges to my bank account because they debited my card twice and did not deliver what was promised. I'm very disappointed that they lead me on to believe this was a simple process, when it has been a nightmare from day 3. Can someone please help me resolve this issue?

Business Response: The company has completed its research on this matter and we spoke to the customer.  All fees have been credited back to the customer.  

Consumer Response:  
Better Business Bureau:

I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me.

4/2/2016 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: We wanted to refi our house and friends of ours referred us to Paramount Equity and ***** ******* and his team. We started this process in November, before Thanksgiving, with a conventional loan. We switched to a VA loan in December. Here we are now in the 2nd week of March, and still nothing. ***** told us to not pay our house payment in February because it was 'within days of being completed." We ended up paying our payment. Anytime I call, ***** doesn't return my calls in a timely manner or when he says he is going to. I even made a trip from my home in Central California to Roseville to put a face to the name and voice that had been over the phone, hoping to put some fire under ***** to get the ball rolling faster. Once again, ***** promised we would have our declarations on that Thursday. Well, once again, Thursday came and went, so did Friday, and now we are midway in the next week. I have called two people who were higher up, **** Hughes and *** *********, who also said they were "personally" going to take this over and get it finished up. They aren't good with their word either. At this point, I am going to pull all my information with Paramount and I am going somewhere else that can deliver the goods. I would not recommend using Paramount for any mortgage needs. The right hand doesn't know what the left is doing and I am totally done with this company.

Desired Settlement: Finish the job ASAP, otherwise there is no resolution to be had and my complaint stands.

Business Response: We have worked with the customer and have gotten his loan done.  He has stated he tried to take the complaint down but has not heard back from the BBB.  

Consumer Response:
Better Business Bureau:

I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me. If not for **** ****** this issue we feel would have not been resolved, I would only deal with **** and his team over ***** ******* and his team. Due to his efforts is why we goy this done and when he said he would do something he did very pleased with **** but not ***** *******. Thank you ****

2/24/2016 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: I contacted Paramount Equity in regards to obtaining funding for the purchase of a new home in early February. I worked directly and solely with ******** *******. In the initial correspondence with ********, I provided ALL documentation that he requested in regards to meeting Paramount Equity's pre-approval criteria. ******** provided me with a pre-approval letter and my Wife and I went ahead and proceeded to place an offer on a new home. After our offer was accepted and our earnest money had been taken by the Seller, ******** informed me that Underwriting had told him the loan would not work due to the fact that my Wife would not be employed after we made this move. I explicitly told Jonathan that this was the case in the early on conversations and his response to me was that it's irrelevant because all that is important is that my Wife has income and is working currently during the loan process. She is working now and will be during the loan process, so I have clearly been lied to by ********, or he is extremely incompetent, I'm not sure which but possibly both. Either way, we decided to move on to another Lender. I emailed ******** on 2/5/2016 at 08:41AM asking him to cancel the appraisal that he went ahead and already charged my account for, ($490). ******** responded immediately with "Will do". Fast forward to 9 days later, I emailed ******** asking why my $490 had not been refunded and asked that he address the matter immediately. ********'s word for word response was "I told them to cancel it. When we were moving forward they charged the card. Calm down." How unprofessional...And now, here we are, February 23rd and my money STILL HAS NOT BEEN REFUNDED for the service that never took place but he they charged me for. To say the least, my experience with this firm has been total garbage. I hope that they refund my money without me having to take legal action.

Desired Settlement: My desired outcome at this point is for Paramount Equity to follow through on what they say and refund my money that I was unjustly charged. I've incurred interest costs on this charge and would think they would do the right thing and cover those as well. Also, I've spent hours corresponding with Paramount Equity and now the BBB in regards this matter and my time is not free, even though it appears Paramount Equity assumes it is.

Consumer Response:

Paramount finally refunded my money this morning.

Thank you,

2/16/2016 Problems with Product/Service
1/7/2016 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: On 11.13.2015 I called Paramount Equity inquiring about a home loan. After giving my information I was told that I was pre-approved. I signed a contract on a house on 12.1.2015. I was given the green light by mortgage specialist. He said everything was fine not to worry. Around 12.11.2015 problems started to arise. My credit is not perfect by far. There are some challenges. However, funding needed to be in place by 12.15.2015 or I would lose my deposit. On 12.15.2015 I was assured that everything was okay. That I can start preparing for my closing on 1.13.2016. Packing, notifying my landlord etc. On 12.18.2015 I received a call from said mortgage specialist and I was told that the loan will not go through.He wanted to know if I had anymore assets, he claimed that would help. He stated that he tried for 4 days every which way he could. He knew as of 12.15.2015 that I would lose my deposit. Instead of being honest with me I was lied to and lost my deposit anyway. Yes I had credit challenges, but he could have been forthcoming earlier so I would not lose my money. After further research it turned out that I would never have been approved. If he pulled a DU, I would have known that the day I applied on 11.13.2015. A DU is the first thing that should be done when trying to obtain a mortgage loan. It is required by the government.

Desired Settlement: I would like Paroumount Equity to pay me the $1000.00 I lost. It was no fault of my own. I was assured that everything was fine over and over again.

Business Response:

In reviewing the customers file, we did initially approve the customer, without a property, for an FHA Loan on 11/13.  On 12/2, we received the customer purchase contract and started the final approval process.  As part of that process, we went to obtain a case number certificate from FHA (a property is required to obtain this number) and it was declined by ****** as they flagged the customer as defaulting on a debt owned by the federal government.  We attempted to find a solution with a conventional loan.  However, the foreclosure on the credit report is an issue. There was no way for us to find out this information in advance and we did everything we could to help the customer.  Unfortunately with the foreclosure on a federally owned loan, we could not help.

 

1/7/2016 Problems with Product/Service
1/6/2016 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: a man representing paramount equity mortgage contacted me via my cell phone asking for information concerning my property and current scenario on my existing home loan. i told him that i was already working with someone but he insisted that he could beat them on the interest rate and terms. i gave him some info but didn't provide my social security number or give him permission to look at my credit or do an inquiry hard or soft. when he asked me if i knew my current credit scores i started telling him what they were and before i could remember the high score he told me what it was. i let it go at the time but was consecutively contacted by his supervisor to try to further talk me in to taking out a loan with them. i told him that i was already following through on a personal loan as my equity wasn't high enough yet for cash out. he got a little angry and told me that it was stupid to take out a personal loan and that the comps went as high as $180,000 on a home comparable to mine in my city. i told him that i might be willing to do the loan if i could see the comp of $180,000. he said he would email me them but never did. then i got a denial letter in the mail. saying that my loan application was withdrawn for too many inquiries on my credit and they sent me my credit reports from all 3 credit agencies.

Desired Settlement: i want this company to remove any and all inquiries or any other negative marks they have placed on any of my 3 credit reports

Business Response:

Hi *********

We have left 2 messages for the customer to try and resolve the issues.  We have not received a call back yet.  Once we do, we will update the BBB complaint.

Thanks

****

12/31/2015 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: Paramount Equity collected all my information for a refinance loan and I submitted my income taxes to them upfront. I paid for an appraisal at Paramount's request making me believe that the loan would be approved, but the loan was denied by underwriting because of my income according to Paramount. They had my taxes upfront from the beginning and the denial should have been made before they made me pay the $495.00 for appraisal to ********,LLC , which is the company Paramount contracted to do appraisal. File # order # (system now allowing me to type these numbers) These funds were electronically withdrawn from my Wells Fargo checking account.I am requesting a full refund of the appraisal fee of $495.00.

Desired Settlement: I would like a full refund of $495.00 and no further contact with Paramount Equity Mortgage.

Business Response:  We will be refunding the customers appraisal fee as requested.

Consumer Response:

 
Better Business Bureau:

I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me.  The appraisal fee was refunded to my bank account.

 However, my mortgage company has charged me a $30.00 fee for a payoff balance request that Paramount Equity requested on  or about October 5, 2015. 

I am also requesting the refund of $30.00 for this fee charged to my mortgage account at Bank of America.  I believe these are all the fees and payment of this will 

resolve in a final resolution.  Thank you 


12/14/2015 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: This company was referred to me and on or about 8/26/15, I spoke to a Mortgage Consultant (*******) and he started my application over the phone. Both me and my son own the property so ******* included both of us on the loan application. He asked us to submit several required documents. Within a day or so we submitted all the required documents. Upon his review of our application and all of our documents he contacted me and said that we should apply for a FHA Cashout Refi. Loan based on our circumstances. We agreed to continue the process and he said based on his initial review of our file he was 95% certain we would be approved based on FHA program guidelines for a refi. Cashout loan. We talked every day or two for about 10 days regarding our application. He emailed me a loan #, he provided me with info. on accessing their loan center to activate a new account and to get status updates on my loan application. He also requested that I order an appraisal at a cost of $495. Although I felt it was premature to order an appraisal at this stage because the underwriting dept. had not reviewed our file he encouraged me to proceed with the appraisal process. On 9/10/15 I ordered and paid $495 for the appraisal. On 9/15 we were asked to sign eDisclosures and to provide payoff info., etc. It took about a week for the appraiser to inspect the property and I still had not received anything about the appraisal on 09/22nd so I called ******* and he said he would research the matter. I called him back on 9/23rd and he did not say anything about the appraisal but he said that the underwriting dept. denied our loan due to a FHA program guideline technicality. I was upset and I told him he should have asked the underwriter to review our file before asking me to pay for an appraisal. He said he was going to talk to his manager to see if he could override the decision or at least get a refund. I called him on 9/28 and 10/1. He has not responded to me and I have not received an appraisal. I continue to be ignored.

Desired Settlement: This company has been very unprofessional in handling this matter. They stop contacting me, won't return my calls or reply to my emails. As of this day (11/05/15) I have not received an appraisal or anything in writing regarding a loan denial. At the very least I want a full refund of $495 for the appraisal.

Business Response:

I am following up to a complaint for Ms. ******* **********.  I have scoured our databases and we have no record of help Ms. **********, the address below or the e-mail.  I wasn’t sure how to best respond to this.  If the customer can give me more details, we can research further.
******* ******
Chief Marketing Officer, NMLS# ******* **************************************************

Consumer Response: I am rejecting this response because: Paramount Equity Mortgage, LLC should be able to review my loan file by the loan # they assigned to me and my son. They can also use the property address and or our email address; however I left two messages for ******* ****** with the loan # and my phone #. I asked him to contact me asap to discuss this matter. I'm currently waiting to hear from him.

Business Response: We are continuing to work with the client to come up with a satisfactory resolution   ***** ********, our EVP who oversees the loan officer referenced in the complaint is speaking with Ms. **********.  We should have resoltion soon.  Once I do, I will psot it to the BBB website.

Consumer Response:  
Consumer states that the business has contacted her directly and the matter has been resolved to her satisfaction.

12/5/2015 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: We applied for a mortgage refi on 9/11 w/Irvine, CA office over the phone. After being juggled between mortgage specialists and calls not being returned, I was contacted by ****** ********. The loan processor requested the subordination request to my 2nd mtg on 9/30, which they sent out reg mail, because Paramount doesn't work with *****. Paramount claims they didn't receive the subordination as of the morning of 10/26. I advised ****** that if a new subordination needed to be requested, that I was taking my business to another company, as ****** tried to blame the 2nd mtg company. An hour after this conversation, ****** emailed and said our loan docs would be ready to sign later that day. I emailed back and asked if they had received the signed subordination doc, he replied with yes. Docs were signed that night, with the understanding he really received the signed subordination doc. 4 days after signing and 1 day past the right to cancel, I received a phone call from the processor stating they had not actually received the wet signed subordination doc and they had requested a new one, and had submitted the HUD docs to the title company anyway. I have requested several times to cancel this loan process and have yet to hear back if it's been cancelled. I've spoken with the title company and they've said they can't proceed w/out a new HUD because the one they have, isn't accurate. The employees involved have been very dishonest, misleading and arrogant towards me with this whole situation. I should never be told to just sit back and relax and stop stressing by Paramount Equity employees. Not to mention their unethical practices, that would have cost me double interest charges. Now I'm having to start completely over with a new mortgage company for my mtg refi, almost 2 months later of trying to work with Paramount Equity.

Desired Settlement: I want to be refunded for the cost of my appraisal in the amount of $495. I also want the fee for the Subordination cost in the amount of $250 to be waived. I'm having to now pay these fees to another lender due to Paramount Equity's unethical practices.

Business Response:

Thank you for bringing this issue to our attention.  We have research your issues and we will be refunding your appraisal fee.  As for the subordination fee, this cost was not charged to you up-front so we are unable to refund it at this time.  Thank you again for bringing this to our attention and we will be taking the necessary actions internally to ensure it does not happen again.

**** ******
Chief Marketing Officer

Consumer Response:  
Better Business Bureau:

I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me.

12/3/2015 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: Someone from your Colorado office keeps calling in a very creepy, stalkerish type manner. No messages are ever left, and should I be available to pick up the phone, you guys just hang up. This is very unprofessional for a company that is supposed to be conducting business in the Colorado area. My numbers are on the do not call list, but I am left feeling that you have found some kind of legal loophole to exploit to justify your calling. I find that to be utterly immoral and annoying. So much so that because of this behavior, I will never do any business with your company. A simple ****** search for the company name shows prior lawsuits for deceptive practices. The search results for the numbers used to make these creepy stalkerish outbound calls also shows numerous complaints similar to what I've went through. A company that wants to do business is behaving in a manner that is actually driving business away by pissing off its potential client base. Not only that, I've received calls after 8pm in the past. According to the FCC, you are NOT supposed to be calling after 8pm. Should I report you guys?

Desired Settlement: Yes, no further contact by the business. Do not even think of selling or giving my number or info to any affiliates as you will then be violating the market affiliating rules that are governed by law. Delete my information from your database. Stop harassing people in my state as well!

Business Response:

Mr. ***,

 

You phone number has been added to our company "Do Not Call" list so you will not receive any more calls from Paramount Equity.  Thank you for time and if you have any questions, please feel free to give me a call.

 

Sincerely,

 

**** ******

Chief Marketing Officer

Consumer Response:  
Better Business Bureau:

I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me.
I hope they can review the many complaints found simply by doing a ****** search and revise their outbound call policies.

12/3/2015 Problems with Product/Service
11/16/2015 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: Put in for a refinance loan with paramount equity mortgage. I was told I had great credit and should not be an issue. My first mortgage representative had me turn in all my documents and said everything looked great. Beings I'm a veteran they had to put in for paperwork from the veterans administration so I could get a VA loan. Then I was recontacted they said I had to get and appraisal on my house, but everything was looking good and should not be a problem.Set up appraisal which was $495.00 had to pay it up front. Appraisal was done and everything came out good, said should not have issue with loan. Did well and water tests which I had to pay for and also pest inspection. Waited quite awhile to hear back from mortgage company kept saying they were waiting for letter from VA. After almost a month finally heard something back. Then they asked if I needed my spouse on loan because they could do it without, I said reason I wanted spouse on the loan so my home was in both of our names.So we turned in all of our items including tax returns again was assured of no issues.Then after several more weeks I was told now my loan would not go through underwriting because of dept to owe ratio. Why tell me everything was good and it wasn't. Then had to pay for all those items and nothing.I thought that was end of everything but a couple weeks later another loan officer called me said the first guy was young inexperienced and made mistakes. She said loan looked good and the VA had gotten certificate in so should be no problems for loan.Sent in more paperwork for both my spouse and I that they said they needed. Had to give more information on checking and savings accounts made us pay off several of our credit cards and accounts over 7000.00 paid off so it would look good to underwriter. Again nothing. Also they did 3 hard credit checks on us ruined our scores. Not sure why they did that. And after 3 different loan officers I got oh we are sorry that happened.

Desired Settlement: I would like a refund for the appraisal and my credit report restored. This company should not have ran three hard credit checks on both of us. This way I can go to a different company as of right now they ruined my credit score.Thank you Susan Best-Olds.

Consumer Response: Thank you again,

I have been contacted by Paramount Equity Mortgage, and they are reimbursing my appraisal funds. They contacted me and apologized for the inconvenience. I'm hoping they can restore my credit score not sure if they are working on that.

But I do thank you for your timely assistance in this matter it is appreciated.
***** ********** ************.

Sent from my iPad

11/9/2015 Problems with Product/Service
11/6/2015 Advertising/Sales Issues | Read Complaint Details
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Additional Notes

Complaint: I guess it's wise to research this company, before giving information. The last 2 complaints are very similar to my mine. July 2nd, received a call from a "****" from Paramount equity Mortgage. He took information, said he'd get back to me the following week. 3 weeks later I get a call from "******* *****", she was fairly helpful, and tried. July 30th, we were going to close in August, told not to pay the mortgage.August; signed many papers, had to contact them 98% of the time,forcing communication, from them.We were late on mortgage, $50.00 late fee. There was one snag after another keeping us from closing. They helped find our deed it was filed in the wrong county but they said they checked with EVERY county,and couldn't find it. August 17th **** ***** blamed us for not having the right papers signed. We signed the papers she sent us, then the next few papers she sent, then we waited. We paid about $450.00 for an appraisal and waited 7-10 days to hear from them. On September 4th, we received a letter of denial in the mail. Sept. 11, ******* sent an email asking for more signatures. I replied asking about the denial, she said that we can proceed,to disregard the denial letter. Oct 7th we were told we are going to close, when we went over the #'s is when we found out it was an FHA not conventional, didn't know they switched it. Didn't know they had the wrong amount of money we want from our equity, meant we will delay closing for a week. Had to contact them again, was told supposedly **** sent email stating repairs need to be completed,before closing. Friday Oct.16th I called ******* *****,to file a complaint He said he will check in to it and call mon. Tues I left him a msg. He said he put an investigation ticket on the appraisal co, said they told him that we refused to do repairs on our home, not true!Said he'd fix it, hasn't been fixed. We were late on August, Sept, and October mtgs. Seems they blame others for their mistakes. Had to try to make long story short,sorry if not clear!

Desired Settlement: Refund and/or explanation to credit companies, why were late. Contact the company and let them know our concerns, which are; 1- lack of and poor communication from their company to clients/customers.2- need to accept personal responsibilty for mistakes.3- share this with future potential customers.

Consumer Response: I want to share with the BBB and the company that I have received a response and I appreciate the Paramount company for doing their best to fix the situation. They have offered to settle with what I have asked for and no further concern or complaint needs to be addressed. Thanks 

10/20/2015 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: My story is exactly like the last complaint from Aug 14, 2015, except mine didn't take as long, but had the same end result. Everything began very promising, I was trying to refinance my current mortgage loan to a 15 year loan. I was told everything looked great and that there wouldn't be any issues to close the loan by the end of September 2015. Since my husband is currently not working, I was applying by myself. On September 1st I was told the appraisal company would be contacting me to schedule the appraisal appointment, did not hear from the company until Sept 10th. I had to pay $495 for the appraisal. On Sept 4th I was told that they need to run my husband credit report. On Sept 9th I was told that they were working on my loan and that it would be submitted to underwriting and the they should receive an approval no later than the beginning of the next week. On Sept 9th I asked if the appraisal would be done after the loan was approved, they told me it would be before the approval. That should have been a red flag, but I didn't think much of it because I was told the loan would be approved. The week of Sept 14th I was told they need information on my husband mortgage loan where he is a cosigner on his parents property. On Sept 21st I submitted all the information required and on Sept 25th I received an email stating they couldn't approve my loan that the underwriting didn't accept the information provided, where my husband is a cosigner on loan but is not responsible for any of the payments. The loan officer need additional training, so they can stop making false promises. They need to gather all the information prior to making promises that can't be meet because they lack interpretation skills of the information they are looking at.

Desired Settlement: I would like for Paramount Equity to reimburse me the appraisal cost of $495.00. If the loan officer knew how to interpret the information they have, they would have realized that the appraisal was not needed because of the second mortgage that my husband is a cosigner. They should never guarantee an approved loan when they don't have the control over the final decision. I trusted the loan officers and now I am out $495, which I was clear with them from the beginning.

Business Response: Hello,

Thank you for bringing this customer issue to our attention.  I have been spending the last 10 days researching this issue and we have tried numerous times to contact the customer so that we can understand her issues and come to a resolution on this matter.  however, we have not been able to contact the customer and she has not called us back either.  Until we hear from the customer, there is not much I can do as her information is key to this resolution.  We will continue to try and reach her to resolve this matter.

Thank you.

****

Business Response: *** ******,

I apologize for the mail you received.  The response was sent in error.  Brian is having your refund sent through as you explained.  My name is **** ****** and I am the ***** ********* ******* for the company.  If you need anything else, please don;t hesitate to reach out.  My phone number is *************

Thank you.

Consumer Response:  
Better Business Bureau:

I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me. "****** called BBB complaint handler and left a voicemail and stated that she received her full refund for the appraisal on Saturday 10/17/2015 and she waited until the check cleared today 10/20/2015. The complaint is resolved to her satisfaction and thank you. "

10/20/2015 Problems with Product/Service
9/19/2015 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: These guys called and offered me a no cost refinance that ended up costing me quite a bit. Dont know how they can call and say they have an a+ rating with the bbb when all i see is how they scam people. Always got different stories about fees and time lines and refunds. This business has a+ qualities. All they do is lie to people and take there money. I cant count how many lies i was told, and just to top it found out another lie today when i got a letter saying my loan had already been sold. They said they dont sale the loans and they finance them . Not even 30 days after closing. This is worst experience i have ever had with a mortgage company . They dont deserve an rating

Desired Settlement: Would not like them to be able to people they have a + rating with bbb . Think they should be investigated on how many complaints i have now read them. Don't think it fair to prey on people. Lie to them and take there hard worked for money. They already robbed me dont let rob anyone else

Business Response:

First of all, Paramount is very disappointed that the ******’s had a bad experience with us.  We strive to ensure the thousands of customers we help every month have a great experience and end the process with us happy.

 

I have reviewed all of the information I can on the ******’s loan and wish I had more.  Paramount does not record all of its phone calls, so many of the claims Mr. ****** has about costs changing are difficult to verify. However, I was able to verify that the loan officer did say that there would be no fees for this loan.  This is a mistake made by the loan officer, as they should have stated we do not charge lender fees.  Because of this mistake, we will be refunding the money the ******’s brought into escrow, which is $1,699.  This money will be added to the $2,232 lender credit Paramount gave them to help lower the money required to close the loan. 

 

As it relates to Paramount selling their loan, we did in fact do this.  As part of our document packages the ******’s signed, it states that we do not service all of our loans and their loan could be sold at any time over the term of their loan.  They acknowledged this twice, once when we sent the initial disclosures and another time when they signed their final loan papers.  The terms of their loan will not change, just whom they send their payment to.  The one phone call we did have recorded the loan officer stated that their loan would be with Paramount and not their old mortgage servicing company.  I can see how this could be confusing, as the loan was funded with our money but subsequently sold.  Because of this, we will perform additional training to help with this confusion.

 

I am hopeful this resolution is acceptable to the ******’s.  I am always disappointed when one of our employees makes a mistake.  But, regardless of that mistake, Paramount will always do what’s right for the customer and then use the mistake as a training opportunity.

8/14/2015 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: What began as a very promising work relationship and opportunity to refi turned into a major disappointment and unprofessional end. I began working with this office the last week of May 2015. By the 2nd week of July we were nearing the close of my refi. I paid for an appraisal in June and was encouraged to not pay my current mortgage in July because the loan would close prior to July 15th. On July 15th I received a call stating I am unable to refi due to my student loans and debt to income ratio. There were no other options or solutions offered just a sorry and good luck to you... It was unprofessional of Paramount to make promises and not recognize the barrier upon pulling the initial credit report. My loan office, Liv, boasted that she had extensive experience; however, that is hard to believe because this issue was not caught. Now I'm out $450 for an appraisal, a $50 late fee front mortgage company and a $30 fee from my mortgage company for Paramount Equity requesting a pay off amount. I have never paid my mortgage late but trusted the promise that the loan would close before the mortgage was due. This was such an unnecessary and costly ordeal that could have been avoided by working with a loan officer that recognized the issue prior to ordering an appraisal and giving recommendations to skip a mortgage payment. I got a second opinion on my ability to refi and was told at first glance of my credit report that my student loan would make it difficult to proceed; however, I was given options and was not given false hope that has cost me over $500. Paramount Equity talks a good game but does not deliver and has now caused this single mom of 3 another financial hardship when I was looking for relief.

Desired Settlement: Paramount Equity's decision to proceed was a mistake that has cost me time, energy and money. There is no amount my house could have appraised for that would qualify me for the refi based on my student loan so why was it ordered? I would like the appraisal fee of $450, mortgage late fee of $50 and mortgage pay off fee of $30 reimbursed. I trusted my loan officer, Liv, and now I'm out $530 which could have been avoided. I recommend some training for staff so another graduate won't fall victim.

Business Response: Hello,

We spoke to this customer to understand the issues and she is in the process of removing the complaint.  This is the first time I have done this as I just took over this program so please elt me know if I need to do anything else.  Thanks you.

****

Business Response:

We refunded his money because we did move him around to a lot of people, which is what I thought was the best course of action and the right thing to do.  Because he is unhappy, does this effect us at all?  I want to ensure people feel we are responsive to them and helping fix their issue while we better our process from this feedback.  Let me know if this will hurt us.
Thanks
****

Consumer Response:  
Better Business Bureau:

I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me.

8/14/2015 Problems with Product/Service
8/13/2015 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: Bad practice/service of a mortage. July 8, 2015 Paramount Equity Mortgage P.O. Box 5914 Santa Rosa, CA 95402 To whom it may concern: I don't know if this letter will make any difference to anyone, but I have to try. In September 2014, I refinanced my $90,000 mortgage for a lower rate and payment. In May/April 2015 the same representative, ****** ******, from your company, called to offer a new, lower rate at NO cost to me. I questioned him SEVERAL times regarding the cost factors. I was assured several times that there was absolutely no cost to me, including appraisal, closing costs, title fees, etc. My loan at closing was $89,179 yet I ended up with a new loan of $90,700. I feel I was smooth talked, and lied to, and I bit hook, line and sinker. I ask you, why would anyone spend $1500 to save $23 a month? There is much more detail to this including a pile of paperwork, different mortgage companies, and answers of problems over the phone that were not true and not return calls from ****** ******. I feel that this young man and the company he represents made false claims and took advantage of me. I hope this letter will bring attention to these practices so others do not fall for them. ****** ****** **** ***** *** *********** ** ***** ***** ********

Desired Settlement: Help with the restitution and explanation of the mortgage.

Business Response: When the consumer refinanced a loan he had previously obtained from Paramount, he was doing so with the believe that our "Paramount Pledge" would entitle him to a loan without any closing costs.  Per the terms of our Paramount Pledge, lender credits are applied for some fees but not all.  This misunderstanding was the basis for the consumer's complaint.  We explained the terms of the Paramount Pledge to the consumer and offered him a refund check in the amount of $300 to cover half the title-related fees the consumer had paid.  The consumer agreed to this resolution.  To the best of our knowledge we consider this complaint to have been satisfactorily closed.

Consumer Response: I am rejecting this response because:i have talked to co. rep as of  7/23/15 at 5 p.m. there is no resolve at this time

Consumer Response: Consumer states: While I did accept a refund that was offered I remain dissatisfied because the results of the modification was not worth it and I was told it would be. I tried notifying my contact multiples times and when I did reach him he said that it was out of his hands. 

7/9/2015 Advertising/Sales Issues | Read Complaint Details
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Additional Notes

Complaint: I have received 8 calls today between 8am and 1:45pm from various companies claiming that I completed an application for loan modification. The calls came from the following numbers: 775-345-3072 (twice), 623-207-1076, 702-706-0280, 866-269-9419, 313-545-0098, 702-706-0280, and 866-269-9419. The callers claim that I completed an application for a loan modification. That is untrue and my information is fraudulently being passed among these companies. One company claimed to be Loan Depot, another was Paramount Equity Mortgage, and another was from Secure Rights. I have also received 2 emails so far from two different companies. One of them was Loans5000.com.

Desired Settlement: I want to know how my information was received by these companies and how I can delete my information from these companies' databases. The receipt of my information by these companies was fraudulent and must be stopped.

Business Response: We have searched our records and those of our sub-servicer, and neither of us have any record of having funded a loan or performed any loan servicing for this consumer.  In addition, we do not proactively reach out to consumers to offer loan modifications.  These programs would only be discussed when appropriate with our existing servicing customers.

Consumer Response: I am rejecting this response because:  It is dishonest that this business does "not proactively reach out to consumers to offer loan modifications."  It is accurate that I do not have a loan with this company.  But, I did receive unsolicited calls offering loan modification.  

6/30/2015 Problems with Product/Service | Read Complaint Details
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Complaint: I feel that paramount equity misrepresented what they would be able to lower my mortgage payments from $1.845.00 a month to $1.399.00 a month. Loan account ********** 4-1-2015

Desired Settlement: I feel they had received monies for closing cost under false pretenses stating they could lower my payments substantially,then contact me 6 months later stating they miscalculated my taxes and my payments would be pretty much the same as they were before they refinanced my mortgage...not only did they get over $4000.00 in closing cost the ruined my only opportunity to refinance using the HARP program... And now being on permanent disability,is making it very difficult to make the payments on my

Business Response: We mistakenly understated the amount of the escrow impound when we established the consumer's account.  This miscalculation resulted in a shortage and a subsequent increase in the consumer's monthly payment.  Upon discussion with the consumer, he elected to pay the shortage directly and to cancel his escrow accounts.  As a result, his monthly payment is now lower that it was prior to his refinance.  In addition, we sent a refund check to him to cover the late charges he incurred when his payment was insufficient to cover his temporarily higher escrow account. 

The consumer's reference to being on permanent disability reflects a condition that existed prior to his refinance transaction.  Today he is in a better financial situation.  To the best of our knowledge, this complaint has been satisfactorily resolved.

6/30/2015 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: I was misquoted about refunds I would be receiving and an amount that was added to my loan. Total damages total $5100. My experience with Paramount Equity has been less than pleasant; I was consistently misquoted the amount of money I would be receiving through my initial refinance, which occured in Aug/Sept 2014. I was told I would receive $2200 refund from FHA insurance. When the loan came to close, I learned there would be no refund. I was then contacted 6 months later due to a new rate reduction being offered on the mortgage insurance premium I pay. I was told this was not a refinance and there would be no cost incurred by me. I was told I would be saving $105 per month in mortgage insurance monthly. I was also told that my interest rate would be reduced by .25% and so I would be saving around $65 there, totaling $170 in monthly savings. I was already not happy with my previous experience but since they already had all my previous paperwork on file, they said I would not have to send them anything. I was also told I would be receiving $1100 refund from my FHA. Then throughout the closing of this streamline, I was constantly contacted at the last minute and told I needed to submit this piece of information or paperwork to get my loan processed in time. It was very stressful. When the loan finally closed, I learned that there would be (again) no $1100 refund, I was not able to obtain a lower interest rate (so not saving anything there), and I was only saving $41 a month on my MIP! And to top that all off, an additional $1800 has been added to the amount of my loan through closing costs, which I was assured would not happen!!

Desired Settlement: I would like the business to compensate me for both promised refunds, the first being $2200 and the second being $1100. I would also like to be resimbursed for the $1800 which was added to my loan total. This totals $5100 dollars.

Business Response: We also previously responded to this complaint on 6/18/2015.

When the consumer refinanced her loan she understood that she would receive a refund on her Private Mortgage Insurance.  This refund was applied as a credit to her loan amount.  Although, it had been disclosed properly the consumer was expecting a refund check to be mailed to her. 

We also offered and sent her a refund check to her for the closing costs that had been added to her loan amount.  To the best of our knowledge, this complaint has been satisfactorily resolved.


3/25/2015 Delivery Issues | Read Complaint Details
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Additional Notes

Complaint: On January 5, 2015, I began a refinance process with Paramount Equity Mortgage. I was in a refinance process with *****, however I was exploring other options. I was initially assigned to **** ***** in their Phoenix, AZ office. I explained my entire situation including the status of my ***** refinance, credit score, credit report, income, etc. I also told Mr. ***** that I had a two-week old appraisal and the value. I expressed my concerns for a quick refinance process and Mr. ***** stated that this could be completed in two weeks. Based on that assurance, and the promise of no points nor lender fees, I began the application process. I immediately forwarded all documents to Mr. ***** via email, and I was assigned to loan processor ******** ******* in the Roseville, CA office. Over the next two weeks, Ms. ******* assured me that everything was moving along and told me that my loan was in the hands of upper management for final approval. From January 27th to January 30th, I continually attempted to contact Ms. *******, with no response. On February 3rd, Mr. ***** informed me that ******** ******* was no longer with Paramount Equity Mortgage and that he was forwarding my message to her supervisor, ***** ******.Shortly after taking over my loan, Ms. ****** informed me that she was leaving on vacation. However, she stated that she wanted to handle my loan personally for me. On February 11th, I asked for a complete list of items needed to close this loan. By noon the next day, I had sent all 25 items directly to Ms. ******. Then, my account sat for another week with no action while Ms. ****** was on vacation. Upon her return from vacation on Thursday February 19th, I waited for an update on my loan. No such contact was made by Ms. ******. Finally, after another four days of waiting, I contacted both Ms. ****** and Mr. *****. I am now in week nine (9) of this two-week refinance. I have incurred over $2,000 in actual damages due to the stalling tactics of Paramount Equity Mortgage, not to mention the frustration and stress of this ridiculous situation. In my 40 years in business and real estate transactions, I have never encountered such negligence and incompetence as I have over the past nine weeks with Paramount Equity Mortgage.

Desired Settlement: I want this "two-week" refinance that has turned into NINE WEEKS and that has been approved ...closed in the next TEN CALENDAR DAYS ... PLUS ... reimbursement for my $2,500 OUT-OF-POCKET losses.

Business Response: Mr. ****** was upset because he felt that his loan was in process longer than expected.  During his initial call with our loan originator, Mr. ****** asked what the quickest timeframe we had closed a loan in was.  In response, he was told two weeks but that each loan is different and can take longer.  We believe that Mr. ****** set his expectations for a two week close, and did not feel we had set proper expectations as we continued to ask for additional conditions.  In an act of good faith, we refunded his appraisal fee.  After restructuring his loan transaction we were able to fund his loan on March 10, 2015.  We believe we have satisfactorily satisfied his complaint.

Business Response: Mr. ****** was upset because he felt that his loan was in process longer than expected.  During his initial call with our loan originator, Mr. ****** asked what the quickest timeframe we had closed a loan in was.  In response, he was told two weeks but that each loan is different and can take longer.  We believe that Mr. ****** set his expectations for a two week close, and did not feel we had set proper expectations as we continued to ask for additional conditions.  In an act of good faith, we refunded his appraisal fee.  After restructuring his loan transaction we were able to fund his loan on March 10, 2015.  We believe we have satisfactorily satisfied his complaint.

2/19/2015 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: Refinanced house with this company based on original quote of what we would be receiving back at closing. We went with this company ONLY based on this lump-sum of money. The other company we would be going with, had us missing 2 months mortgage and was reimbursing us for the appraisal. Ryan emailed me his quote; where we would be getting $1746.58 back at closing, to offset 1 months mortgage and get the appraisal fee back. He had pulled the credit report prior and knew what the pay-off was. Never once communicated this was changing. (There were other misses in communication that cost us money here and there that he failed to communicate also) Due to the holiday he was going out of town and rushed my boyfriend (who he has never spoken with) to sign the papers. He only received $528 back at closing and we had to pay the past months mortgage. If there was anything changing from the original quote it should have been communicate. He knew he would lose our business if he told me so he kept quiet.

Desired Settlement: I would like the additional $1200 that is owed to us.

Business Response: The estimated cash to the borrower that appeared on the initial Good Faith Estimate reflected the borrower receiving $1,746.58.  After a Payoff Demand was received from his current lender, the borrower made an additional mortgage payment rendering the previously obtained Payoff Demand inaccurate.  As a result, the borrower received $528.00 at closing.  The borrower should be receiving a refund from their previous lender in the amount of $1080.60, reducing the difference at closing to $137.90.  As this situation resulted from the additional mortgage payment, we believe we have resolved this complaint.

Consumer Response: I am rejecting this response because: **** told me we needed to pay Decembers mortgage. I had another company that I didn't need to pay Decembers mortgage with. **** promised me that we would be receiving the $1700 at closing due to taking cash out. This was not being considered a "cash-out refinance" due to the amount not exceeding 2%. I would NOT have paid Decembers mortgage if **** didn't tell me to! Why was it not ever communicated there would be a change in the amount received to borrow at closing? Also, when asking when the ($1700) check would be arriving it was never communicated at that point either.

Business Response: When the consumer spoke with our EVP of Sales on 1/30/2015, he explained what had transpired with her previous lender and that this situation was not caused by Paramount.  He refunded her appraisal fee, and worked with her previous lender to track down her funds and obtain her a refund.  At the time, she indicated that this complaint was resolved and promised to clear the complaint with the BBB.

Consumer Response:  
Better Business Bureau:

I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me.

2/18/2015 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: I began the process of re-financing my home on Oct. 20th. That is the day I walked into the office in Phoenix, AZ with all my accompanying paperwork. The loan officer assisting me was named **** *******. I was quoted a closing date of Thanksgiving. This did not happen. Phone calls were hardly returned and if they were, a call came after 5:00 pm. An appraisal was requested which cost me over $475. It took one month for me to get my copy of the appraisal. I had to keep calling and calling Paramount to be told they hadn't received it yet by the appraiser. When we contacted the appraiser, he stated Paramount received his paperwork within the week so we were just strung along. I was quoted next as closing before Christmas. This did not happen either. When I kept asking what the hold up was, I was told it was due to VA taking so long. Next came a termite report which cost me $120. By now, we were at the 2 month mark and threatened to go elsewhere. Phone calls basically stopped. We were suppose o get a call from Eric on Monday, Jan 12th, no call. Another gentleman phoned late on Tues the 13th to say we would get a call by 12:00 pm on Weds. he was sorry for the delay and apologized for our confusion. He stated he didn't know what the hold up was but assured us he was looking into it and we would know something the next day. As of tomorrow, the 20th of Jan., no call, no show, no nothing. We will be at the 3 month mark. We have since found a reputable company and have gone elsewhere. I would like my money to be refunded for both the appraisal and the termite inspection. Due to the length of time which has passed, I can't even use the appraisal for a new re-finance.

Desired Settlement: Reimbursement of $475 for the appraisal and $120 for the Termite Inspection.

Business Response: Our EVP of Sales spoke with the consumer on 2/2/2015, and agreed to refund the cost of the appraisal and pest inspection previously paid by the consumer.  To the best of our knowledge, this complaint was resolved to the consumer's satisfaction.

Consumer Response:  
Better Business Bureau:

I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me.

2/12/2015 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: I work for a company that was involved in a lien removal for a customer of Paramount Equity. Unfortunately, due to issues with the customer and our company we were unable to remove the lien in order for the loan to close. The loan officer began harassing myself and Executives at the company demanding the removal, continuously calling our personal cell phones, and personally insulting us. After several attempts to ask the loan officer to stop calling, a police report was filed and the loan officer was called and told to stop contacting the us on our personal cell phones. The loan officer did not stop, he called and harassed our customer service agents and eventually received the cell phone for the President of the Company, whom he continually called. This sort of harassment and unprofessional abuse of a position is uncalled for.We tried to contact the supervisor of the loan officer and no supervisor would take our call nor would the company acknowledge the employment of the loan officer. This behavior has no place in a professional business network. It should be punished and no longer tolerated.

Desired Settlement: I would like to see the company reprimanded for allowing customer service such as this to continue. I would like to see the employee terminated.

Consumer Response: Consumer states that the business has reached out to her and the issues have been resolved.

2/10/2015 Problems with Product/Service | Read Complaint Details
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Complaint: We were told that we had been accepted for the loan and that we needed to have one of their accepted appraisers appraise our house for $495. We had the appraisal done and paid for it then the Paramount rep called us and said they had gotten more information and canceled our loan.

Desired Settlement: Refund the $495 apprasal fee.

Business Response: Mr. ******* was initially informed that we should have been able to complete his loan.  Unfortunately, information that was not originally available came to light during our underwriting process that prevented us from approving his loan.  Based on his discussions with our District Sales Manager, we believe that Mr. ******* has accepted our apology, has received a refund for his appraisal fee, and considers this complaint closed to his satisfaction.  

Consumer Response:  
Better Business Bureau:

I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me.

2/3/2015 Advertising/Sales Issues | Read Complaint Details
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Additional Notes

Complaint: Paramount Equity calls my house night and day everyday. This has been going on for months. Usually we don't answer the call, but we've started to and everytime we answer they hang up on us. It doesn't matter if I answer the phone or my husband does. It's like they're trying to find out our work/activity schedule. No one has ever talked to us from there. The number is coming from their local branch in Spanish Fork, UT. The number is 801.201.7055. If they don't stop I'm going to report them to the police.

Desired Settlement: I want them to stop calling my house. They shouldn't be listed as a legitimate business and get your recommendation.

Business Response: Based on a review of our call records to the complaintant, we attempted 20 phone calls over a 46 day period from 12/4/2014 through 1/20/2015.  Our first call was answered by the complaint's son who indicated the complaintant was not at home, and that we should call back that evening.  All other call attempts until our final call on 1/20/2015 were picked up by the complainant's answering machine.  It wasn't until 1/20/2015 that our call was answered and we were requested to add them to our Internal Do-Not-Call List which we did, and no other calls were attempted.  We take our obligations under federal and state laws seriously with respect to our telemarketing efforts.  We believe we were compliant and satisfied their desired settlement.

Consumer Response:

 
Better Business Bureau:

I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me.

The whole explanation wasn't exactly accurate, but I'll take it.  They have discontinued calling me and that was the goal.

Thank you,

******* ******

12/24/2014 Problems with Product/Service | Read Complaint Details
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Complaint: I was attempting to refinance my home. I paid for an appraisal and told my loan officer ******* ***** the day they were to withdrawal payment from my checking account. The amount was taken a day before it was supposed to and I suffered two insufficient funds fees from my bank totaling $70 in overdraft fees. ******* assured me the funds would be refunded to me, and this was back in October. I have received no refund to this date.Also, the appraisal was being disputed by me as I felt the appraisal calculation on the value/market value of my home was incorrect. I have not received any further communication from Paramount Equity since November 11th, 2014, and am unable to reach anyone who can help me with the process of my refinance. I just had a conversation from someone from customer service and they looked into my file and I was told it appears my loan has been deemed inactive and not able to be processed.I feel I should have been contacted with this information. I also feel I should be refunded my $500 I paid for the property appraisal as I have researched the comparable market value of properties in my area that have sold in the last 12 months and my home should of been valued for at least $130,000, not the $105,000 as Paramount Equity told me the appraisal came back as.I have also not had the latest appraisal delivered to me for my viewing either so I have no real proof of the actual appraisal that was recently completed or what the property actually appraised for. Thank You,******* *******************

Desired Settlement: $70 for the overdraft fees incurred by withdrawing appraisal fee earlier than authorized and refund of appraisal of $500 for which I have never received via us post or email. I feel I should not pay for an appraisal I have no access to.So I feel my total refund from Paramount Equity should be $570.Thank You,******* *******************

Business Response: Initially, we improperly followed up with with *** *******, and inadequately explained the appraisal process to her.  We spoke with her and reviewed the appraisal with her.  We have refunded the $70 overdraft fee she was charged.  While still unhappy with the appraised value and the appraiser, *** ******* was pleased with our response and was satisfied with the resolution.

Consumer Response: I am rejecting this response because:I have not recieved a refund. They promised me one but I have not recievex the refund. Also, I had asked to have a different appraiser do my appraisal due to a conflict of interest and the failed to provide me with a different appraisal at the time original appraisal was being performed. I wish to have my original appraisal fee of $500 refunded as well.

Consumer Response:  
Better Business Bureau:

I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me.

Business Response: Our EVP of Sales Operations spoke with Ms. ******* on 12/23/2014, and committed to refunding the amount of she previously paid for her appraisal.  Based on this discussion, we believe this complaint to have been satisfied.

12/2/2014 Advertising/Sales Issues | Read Complaint Details
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Additional Notes

Complaint: Paramount Equity Mortgage called a number on the national do not call list. On 10/30/14 claiming I filled out one of their forms. I did not & took their company name, number & address. This is not an A+ company. Rate them an F & fine them for this repeated abuse.

Desired Settlement: Lowe the company rating to an F, fine them publicly & have them go on the news stating they are wrong & the amount of money they were forced to pay.

Consumer Response:

My solution to this problem was to fix it & prevent it from happening again. This was through monetary fines, public embarrassment & a reduction in your grade for this company. What do you suggest to stop this company from violating the federal do not call list?
 

Business Response: We purchased a lead from a lead provider that had been completed by Mr. ***********.  In completing the lead form, Mr. *********** provided his Express Written Consent (EWC) to be contacted regarding his financing needs.  In accordance with federal and state regulations, this EWC allows us to call the phone number regardless of whether or not it appears on any federal or state Do-Not-Call lists.  As such we called Mr. *********** 15 times over a period of 37 days.  In all cases but one, the call was picked up by an answering machine.  When we finally spoke to Mr. *********** we added his phone number to our Internal Do-Not-Call list as requested, and no subsequent call were made.  We believe that we fully acted in compliance with all federal and state regulations, and our internal policies.  A copy of our "Consumer Do-Not-Call Policy" has been attached for further reference.

11/28/2014 Advertising/Sales Issues | Read Complaint Details
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Additional Notes

Complaint: This company has very aggressive marketing practice. They keep on calling, despite the fact we ask them multiple time not to call and remove my number from their list. Please help.

Desired Settlement: Want reimbursement for cellphone usage from there unwanted call.

Business Response: We are in receipt of this complaint and will respond shortly.

Business Response: We are in receipt of this complaint and will respond shortly.

Business Response: After researching our phone records we have been unable to locate any information on this complaintant.  Should we eventually, locate anything we will reach out to her.  As for now, it does not appear that we made any attempts to call her.

Business Response: After researching our phone records we have been unable to locate any information on this complaintant.  Should we eventually, locate anything we will reach out to her.  As for now, it does not appear that we made any attempts to call her.

11/25/2014 Advertising/Sales Issues | Read Complaint Details
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Additional Notes

Complaint: Harassing phone calls have gone on for several months now from ###-###-####. Most of the time it rings and stops, or hangs up as soon as I answer. I have spoken to someone several times and requested that the calls stop and to be placed on the do not call list with no results.

Desired Settlement: I will proceed to report the harassment to the FTC and file a harassment lawsuit.

Business Response: We spoke with Mr. ******** regarding this complaint on 11/24/2014.  At that time, we stated that we had purchased a lead from a lead provider, that someone had falsely completed.  The name associated with the lead form was a female rather than Mr. ********.  In addition, Mr. ********'s phone number was falsely entered as well.  In the course of completing this form, the individual provided Express Written Consent (EWC), which gave us permission to call that number regardless of it being listed on any federal or state Do-Not-Call lists.  Since we had no knowledge or way of knowing that the lead was false, we attempted to call his number 18 times over the course of 38 days.  In all cases but one, the call was picked up by an answering machine.  When we finally spoke with Mr. ******** and he indicated he was "not interested" we added his phone numbers to our Internal Do-Not-Call List, and no subsequent calls were made.  We apologized for the frustration caused to Mr. ********, but believe we fully acted in compliance with all federal and state regulations, and our internal policies.  A copy of our "Consumer Do-Not-Call Policy" has been attached for further reference.

Consumer Response:  
Better Business Bureau:

The calls finally stopped, but it took unwarranted action on my part, after experiencing great inconvenience and many disturbances.  Most of the automated calls that I did attempt to answer were disconnected right before I pick up after 2 rings, or immediately after picking up the phone.

I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me.

11/25/2014 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: I started a refinance applicaton in July 2014 with Paramount Equity Mortgage.I paid for an appraisal, forked over all of my personal data, credit and finacials etc. I was informed that I was approved in mid July, however the company has since continously ignored by phone calls and emails. It is currently Oct and I have no loan with them and no contact. My file is supposedly with the VP of the company for 2 months now. I am very concerned that my personal/financial data has been compromised. The lack of follow up, even a courtesy call or letter stating "we have gone out of business" or "are no longer processing your loan request" would have been better than nothing. Even early on if I didn't initiate a call I wouldn't hear from the company (suspicious to say the least). I need to get my money (plus interest) and my complete loan file returned with assurance that my personal info has not and will not be shared with Parmamount or any of its affiliates. My next step is to file litigation for personal damages due to the gross negligence of this outfit. Buyer Beware DO NOt fall into the same trap that I did.

Desired Settlement: I swiftly demand a full refund (appraisal fees) with applicable interest, my complete loan file returned and a letter from the President/CEO of the company that confirms that my personal info has not and will not be shared with Parmamount or any of its affiliates. I fully expect to receive free credit monitoring (with the 3 Bureaus)for up to 2 years paid for by Paramount Equity Mortgage to ensure that my personal credit has not been compromised.

Business Response: We are in response of this complaint and will respond by 11/7/2014.

Business Response: We have apologized to Mr. ********* for our lack of clarity in turning down his loan application, which resulted in his hope of an eventual loan approval.  As a result, we refunded the appraisal fee to Mr. *********.

10/14/2014 Advertising/Sales Issues | Read Complaint Details
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Additional Notes

Complaint: This company has been calling me (on my cell phone) over and over and over; each time insisting that my husband and I completed an application with them to refinance our mortgage. The first several times they called (multiple times a day), I did not answer it and let it go to voice-mail (but they never left a message); then I finally decided to answer to see what they wanted. I told them that we did not submit an application with them and had actually just completed refinancing our home with ***** ***** (who our loan was initially with). They alleged that their system must have been backlogged and they were just calling because they had just gotten to our application. I reiterated to them that we had NEVER submitted an application with their company and requested that my phone number be removed. I was assured this would be done. This was on 09/08/2014.On 09/15/2014, I received another phone call saying they received our application, etc, etc. I told them they have already called and I asked to be removed from their system before and told them to remove my information immediately. I was reassured that this would be done. On 09/25/2014, to no surprise I got another phone call. I told them to stop calling me and to remove my number. He said that he would and I hung up in his face.These repeated phone calls are a nuisance; especially because they are repeatedly calling me while I am at work. They do not listen and keep ignoring my requests for the calls to stop!

Desired Settlement: It's quite simple...STOP CALLING MY PHONE! Remove my phone number from your system!

Business Response: We are in receipt of this complaint, will acknowledge it to Ms. ******, and will respond within the requested timeframe.

Business Response:

Our initial call attempt was made on 9/5/2014, and went to an answering machine.  This call was made in response to a purchased lead that was obtained through an unaffiliated third-party’s telemarketing efforts, who spoke with ****** ******.  On 9/8/2014 we made two call attempts, one in the morning which went to an answering machine, and one in the afternoon that was answered by ******** ******.  It was during this conversation that she notified us that they had recently refinanced their home, and requested to be added to our Internal Do-Not-Call List, which we complied with.  Unfortunately, when this call was dispositioned in our dialer system it was incorrectly set to “answering machine” rather than “recently refinanced,” which resulted in another phone call on 9/15/2014.   During this call we acknowledged that the disposition was correctly set to “recently refinanced.”  However, this disposition was set to trigger another call 10 days later, which occurred on 9/25/2014.  Thanks to this complaint we were able to determine that this call back setting was incorrect, and have since changed it to ensure no further call attempts are made.  In summary, we made a total of 5 calls over a 20 day period, and spoke to ******** 3 times.  We apologize for the frustration and inconvenience that resulted from our incorrect configuration settings. We have attached a copy of our Consumer Do-Not-Call Policy for your reference.

8/26/2014 Advertising/Sales Issues | Read Complaint Details
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Additional Notes

Complaint: Paramount Equity Mortgage, LLC have consistently and repeatedly called our home insisting that we have signed and submitted an application for refinancing, when have never submitted an application for any service in connection with this business. I have requested to be removed from their call list, but this business has yet to comply with my request. The last individual I spoke with was ******* ******.

Desired Settlement: I would like to be permanently removed from their call list and no longer receive any calls from this company.

Business Response: After researching Mr. *******'s complaint, it appears that we attempted to call him once per day on 6/20, 6/21, 6/24, 6/26, 7/10, and 7/21.  All of these attempts went to an answering machine.  On 8/5 Mr. ******* spoke with ****** ****** and requested he be added to our Internal Do-Not-Call List.  On the same day, Mr. ******* spoke with ******* ****** and again requested to be added to our Internal Do-No-Call List.  It has been confirmed that his phone number is on our Internal Do-No-Call List as requested by Mr. *******.  A copy of our Consumer Do-Not-Call Policy is attached for further reference.  We believe we have satisfied this complaint.

5/13/2014 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: I was solicited by **** ******* from paramount equity on October of last year trying to lower my apr he gave my wife and I the royal run around and he was not able to do it then in January of these year I got a call from him he assured that now he would be able to do it do to price increasing I told him he already had my info on file my wife and I have been at our jobs for well over 20 years and our credit score in the mid 850 I was real firm with him not to run my credit and told him more than once two weeks go by he send some numbers to look at and he said he was sure he could get it done in order for him to get a pay off on a loan he does not need to run my credit is the mortgage company who he needed to talk to two more weeks go by then again he assured me it was going to work then he insisted on running credit again I agreed with the condtion that he was going to be able to put the loan docs together then he stopped answering my calls cause he knew I was going to get really upset with him I call the co direct and asked to speak to his supervisor and it was the next day he returned my call he should have not have run my credit since he had just run it three months prior I protect my credit and he could care less I don't appreciate being solicited and have some one pull wool over my eyes I am really angry with him and his tactics I managed a dealership in my home town and we never run credit on any body we let the banks do it or credit union I respect my clients and the need to do the same I am also seeking legal action againt him and his company they are a fraud

Desired Settlement: they need to be exposed for what they are it its againts the law to run credit on any one he lied to me to get me to agreed that is frudulant

Consumer Response: I was lied on the phone when I was assured that everything was going as fallows it was later that I agreed to them pulling my credit when he send me the info on the 15 year loan and also send me a email telling me that I was able to get additional 300 discount because that was the special that they were having that raised a red flag I have my wife as a witness to my conversation with Andrew that I was firm with him no running my credit and the person that called me from there never said that he would get the appraisal mgr to come to my house that is a lie he said he would call another appraisal company I have proof of all of these they are not worthy of my business after sending my complaint to you I went on yelp and they are a lot of similar reviews to same that happened to me

Business Response: Paramount Equity Mortgage takes any complaint or concern on behalf of consumers seriously.  When such a situation arises, we make every effort to ensure a satisfactory resolution for all parties.  Unfortunately, in this situation we have been unable to reach such a resolution despite numerous phone calls and offers to Mr. ******.  As mentioned in our previous response, and contrary to Mr. ******' claims, we pulled credit with both his knowledge and authorization.  A copy of his March 7, 2014 email providing such authorization is attached to this response.  We believe that we have taken every reasonable approach to find a mutual resolution to this complaint.

Consumer Response: I am mailing you all of the emails that I have beginning on sept 2013 when he gave me the royal run around I not that gifted with computer use so I am mailing you the info that I have including when he re solicited me by calling my home I should have known better any questions please call me at ************

Business Response: As mentioned in our previous response of 4/25/2014, it appears that a resolution with Mr. ****** is not possible.  His desired settlement as mentioned in his original complaint was based on his claim that Paramount Equity Mortgage had pulled his credit report without his knowledge and authorization.  Contrary to Mr. ******' claims (and as stated in our previous response) we pulled his credit with both his knowledge and his authorization.  A copy of his March 7, 2014 email providing such authorization was attached to our previous response.  Given that Mr. ******' claims are without merit, we respectfully ask that this complaint be closed.

4/6/2014 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: High pressure sales tactics, promises not kept, and violated my privacy and request not to run my credit, then failed to make good as promised. 9/13 a sales rep (******* ******) calls me. I told him that I did not qualify for a loan & why: I'm unemployed & kitchen has been gutted in prep for remodel, w/new cabinets in the living room. He insisted that I could qualify using retirement savings and that the appraisal would be no problem. We had more conversations about it. I kept insisting I should wait until the kitchen was finished and I didn't want credit inquiries prior to that. I told him I had re-fi'd many times and used to sell real estate, and did not believe I would qualify. When his supervisor, ****** ****, confirmed that "the appraiser can look beyond the state of the remodel," and the lender would not care, and that the rules have changed regarding my income, I agree to submit paperwork, but ask they not run credit, because I did not believe they could do it. 9/27/13 & 10/1 ****** and ****** request documentation via e-mail. 10/2 I sent documents via e-mail to both with this notation, "Please do not run a credit report until I decide to go forward." ******* e-mailed to request my birth date, which I sent. They never asked me for my SS# or my permission to run credit, but apparently got the info off my tax return. (My credit report was run on 10/3.) 10/3, I got an e-mail from ****** ****: "Congratulations on prequalifying for your new loan! You are now one step closer to saving money on your mortgage. My name is *** **** and I will be assisting coordinating you with obtaining disclosures and locking your loan rate while they are still at historically low." I believe we talked the same day, or the next day. ****** congratulated me, again, but, still not convinced that I would qualify, I told ****** my concerns, again. ****** agreed with me. Then I realized he had already run my credit. All of the phone conversations were recorded by Paramount. 10/10, an e-mail from ****** ****** made the refusal of a loan official, but in the meantime, I'm making calls to try and get the credit inquiry reversed. At some point in this process, one of them says they'll "have to listen to the tapes" of the conversations. I know I vocalized the desire not to ding my credit, as well as in writing, and I KNEW they "couldn't" run my credit without my permission. I call both ******* and ****** to complain and time passes as nothing happens, but my credit score goes down, reflecting the inquiry. Someone (****** or *****) encourages me to wait 30 days from the date of credit inquiry to see if it drops off. I start to take notes: 10/28 I called ******, again. Left VM. 11/1 I get ******, and he "goes to check" -- giving me the name of ***** ******* and his phone number. My notes say "will take care of it" under his name. 11/19 I called again - my credit score has not improved. The credit was run on 10/3, more than 6 weeks earlier. I have a note that I spoke to **** *****. 11/19 ***** ******* phone-tag. I leave him a message (Tuesday) to call me Thursday. 11/21 I called and left VM. 11/26 I got hold of ***** -- He says he'll put through a request to back out the inquiry and will let me know how and when. 12/2 I've heard nothing. My credit is still impacted. I call *****--"he's going to see if there's something he can do" regarding getting me a loan, despite the kitchen--he seemed to think there might be something. 12/4 He left me a message to call. 12/5 I call him twice: once leaving a VM, and once leaving word with ****. 12/6 I left word with **** 12/9 I left word, saying, "I'm not going to call again." No response as of 12/16. I had already told them that I had looked up their reputation on BBB when I started this process and that this was my recourse if they could not do anything about correcting their error. During these conversations I was told, repeatedly, that someone would be fired for making the claims they made to get me to apply (******* was backed up by his supervisor, which would seem to indicate a bigger problem).

Desired Settlement: There must be a way to correct an erroneous credit inquiry and have it backed out of the system. They need to do so before I go to the credit bureau. Their "hold-music" touts their customer service guarantees--they might consider paying out in this case. Somebody needs to take responsibility.

Business Response: Our SVP of Sales Operations, **** ******* has been in communication with ****** ********* regarding her complaint. He has apologized for the confusion and for her frustrations with Paramount so far. In addition, he has personally taken over her loan file. During the course of the conversation, it became apparent that this is a challenging loan file due to a major remodel she has currently undertaken on her home. She was satisfied with ****'s apology, and after discussing the actual impact on her credit from a single credit pull, she is no longer concerned about the credit inquiry mentioned in her complaint. We will continue to work closely with ****** in seeking a satisfactory completion of her loan

Consumer Response:  
Complaint: *******

I am rejecting this response because:

My complaint to BBB produced a response from a SVP of Sales Operations on 12/19.  He did a great job of apologizing.  However, once again, he wanted to go through the file and see if there was anything he could put together for me, so that I would be happy.  He was reluctant to take the trouble to back out the credit inquiry that was run against my wishes.
 
A day or so later, he left word for me, I left word for him.  I called him on his cell phone and got him in the car.  We agreed he would call me back the next business day.  On 12/30, not having heard from him in more than a week, I called him.
 
At his request, I send him photos of the property, so he can try to put the loan through.  He repeats what the salespeople said, which is that they are a "direct lender" and "make their own rules" and can make loans others can't.
 
On 1/2, he calls to go over numbers, but seems doubtful he can do anything for me, which is exactly what I thought in the first place, only now I've spent even more time and effort to prove it to him.  Meantime the loan interest rates have gone up.  He says he'll look further.
 
7 days pass.  1/10 He sends an e-mail to say he thinks the best option is to wait until I qualify--my original idea.
 
So, basically, just like the others at this firm, he wants to please me and holds out a false hope, causing me to invest more time and effort, but ultimately is unable or unwilling to actually fix either problem.  I don't have a loan, and the credit inquiry I did not authorize is still on my credit report.


Sincerely,

****** *********

Consumer Response: I'm very disappointed that after 6 months, that credit inquiry is still showing up on my report.  I'd like for Paramount Equity to have them remove it as an error.

Business Response: Please find attached a letter from Cogent Road (the parent company of Funding Suite) acknowledging the removal of the inquiry by Paramount Equity Mortgage on your credit report.  As mentioned this process may take 30 – 45 days for the three credit bureaus to update your credit profile.
 
I trust this will resolve your remaining concerns.
 
If you have any questions, please feel free to contact me.

Consumer Response:  
Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID *******, and find that this resolution is satisfactory to me, which is to say, they did the least they could do.

Sincerely,

****** *********

2/4/2014 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: Mortage specialist will not return phone calls or emails to find out the status of our loan Loan has been going on for over 3months. Trying to refinance a Condo in Florida. This has taken over 3 months and still do not have a close date. They continue to ask for more documents and asking more questions. Now i can not get ahold of anyone. I have called multiple times, sent emails and still no response. This process started around 09/24/2013 and still waiting on whats going on. We have received a couple of Good Faith Estimates and the charge points continue to increase. I should be geeting this cheaper for dealing with incompentent people. This is the worst customer service experience i have ever delt with.

Desired Settlement: I need to know if we are going to get this loan or not and what the closing date is or move on to another lendor who wants my business. I need an answer now.

Business Response: Just prior to the borrower signing loan documents, we learned that his property was a condo hotel and that he rented the property on a weekly basis. We were unaware of this information at the time the loan application was taken. Once we learned of this, we were unable to do this loan. We discussed this with **** ********, who is the brother/business partner of our actual loan applicant. While it was not the outcome he had wished for, he understood the reason we were unable to proceed. In fact, he has since referred us another individual seeking financing. We believe this complaint has been resolved to the satisfaction of Mr. ********.

Consumer Response: (The consumer indicated he/she DID NOT accept the response from the business.)
This is false. I did advise them that we rented the condo during ths summer months. Our condo is not a hotel/condo. In talking with the rep i gave them the HOA (Home Owners Association) for the condo and they told them it was not a condo/hotel. This still does not answer the customer service aspect in not returning phone calls or eamils that left me hanging for three months. And i had to keep calling them to find out whats going on with the loan. They kept telling me to pay the mortage for this month and not pay the next month because we should be closing the loan. This went on for 3 months.

Business Response:

Our SVP of Sales Operations, **** *******, spoke with Mr. ******** and confirmed that he received all of his requested documents on January 13, 2014.  He apologized for our lack of response to his phone calls during the back and forth process that occurred during the underwriting of his loan application, and the previously mentioned issues that arose.  Unfortunately, we were unable to complete the loan for Mr. ********.  He indicated that he understood the reasons, and was appreciative for ****’s follow-up and for the return of his documents.

 

12/13/2013 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: Representative **** ***** refuses to stop calling, texting regarding a loan with Paramount Equity which I declined. Calls are made on Sundays, nights Several months ago I applied for a rate quote with Paramounth Equity mortgage for a home loan. The rate quote and interest were too high for my liking so I declined their offer. Since then, I have been continually hounded and harassed by **** ***** and other employees of Paramount Equity, who refuse to stop calling, texting, leaving messages on both my home phone and cell phone. I estimate I have received about 40 or more messages and calls from Paramount Equity. I have even threatened to contact the police and report elder abuse and the calls and messages continue without abatement. Evidently, the company thinks they can coerce me into getting a loan by continual harassment and aggressive sales tactics. I have received calls from Paramount agents from the following phone numbers and others: 916=394-5858, 5864,5804,5831,etc.

Desired Settlement: Please have Paramount Equity to quit contacting me, drop further attempts to investigate my credit or make any further loan offers or details by mail, phone, text, or any other method. Leave me alone.

Business Response: Initial Business Response
Our SVP of Sales Operations spoke with ******* ********* on 12/4/2013, at which time he expressed our apologies for her experience, and told her that she have been added to our internal Do-Not-Call list. This conversation was followed up with an email confirming this conversation.

Final Consumer Response
(The consumer indicated he/she ACCEPTED the response from the business.) I trust that the company will keep its word and stop contacting me about a home loan. Any further calls, emails or sms messages from them will result in further complaints.

12/2/2013 Advertising/Sales Issues | Read Complaint Details
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Additional Notes

Complaint: Paramount Equity Mortgage is calling/soliciting consumers in Jax, FL. and is using my co. name and phone number as their caller ID. Paramount Equity Mortgage is calling/soliciting consumers in Jax, FL. They are using my co. name ******** ********* Service) and my phone number (XXX-XXX-XXXX) as their caller ID. I am receiving XX-XXX calls per day from irate consumers stating that my company keeps calling them. After further investigating and asking customer's for more information they state that the person calling say's they are with Paramount Equity Mortgage and are calling because the consumer filled out an application online requesting mortgage information. I called Paramount Equity Mortgage corp. headquarters back in September and informed them of the situation; I was assured that their IT Department would take care of it. It is now November and I am still receiving phone calls from people throughout Jacksonville who are very upset wanting to know why my number keeps calling them. Paramount Equity Mortgage is participating in what is known as Caller ID Spoofing and I am the victim. Paramount Equity Mortgage is deliberately falsifying their telephone number and their name relayed to consumer's caller ID to hide their identity. The number they are using (XXX) XXX-XXXX is my main number and is advertised in multiple yellow page directories; otherwise, I would have it disconnected. My lines and employees are being tied up dealing with irate consumers instead of taking care of my legitimate customers. Not to mention the damage that is being done to my company's name. BOTTOM LINE: PARAMOUNT EQUITY MORTGAGE MUST IMMEDIATELY CEASE FROM USING MY COMPANY NAME AND PHONE NUMBER AS THEIR CALLER ID.

Desired Settlement: PARAMOUNT EQUITY MORTGAGE MUST IMMEDIATELY CEASE FROM USING MY COMPANY NAME ******** ********* SERVICE) AND PHONE NUMBER (XXX-XXX-XXXX) AS THEIR CALLER ID.

Business Response: Initial Business Response
We have spoken with ******* ********* and explained the events leading up to this situation. Our telephony provider, ******** sold us the same phone number used by *******'s business unbeknown to us at the time. Since becoming aware of this situation as a result of this complaint, we have cancelled the phone number from Paramount's end, and removed it from our phone system so it never again appears in our Caller ID. We have also severed our business relationship with ******** In addition, we have apologized to ******* for this situation and once she is able to provide us with the name of the individual she spoke with initially spoke with in September; we will determine why this was not adequately addressed when she first brought it to our attention, and conduct training as necessary. We will follow up with her again in two weeks to ensure that it has been satisfactorily resolved.


Customer Review(s)

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Customer Reviews Summary

14 Customer Reviews on Paramount Equity Mortgage, LLC
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