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BBB Accredited Business since

RANLife, Inc.

Additional Locations

Phone: (801) 478-4545 Fax: (801) 495-5160 9272 S 700 E, Sandy, UT 84070 View Additional Email Addresses http://www.ranliferealestate.com View Additional Web Addresses


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BBB Accreditation

A BBB Accredited Business since

BBB has determined that RANLife, Inc. meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.


Reason for Rating

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

Factors that raised the rating for RANLife, Inc. include:

  • Length of time business has been operating
  • Complaint volume filed with BBB for business of this size
  • Response to 7 complaint(s) filed against business
  • Resolution of complaint(s) filed against business


Customer Complaints Summary Read complaint details

7 complaints closed with BBB in last 3 years | 4 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 0
Billing/Collection Issues 0
Delivery Issues 0
Guarantee/Warranty Issues 0
Problems with Product/Service 7
Total Closed Complaints 7

Customer Reviews Summary Read customer reviews

2 Customer Reviews on RANLife, Inc.
Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 0
Negative Experience 2
Total Customer Reviews 2

Additional Information

BBB file opened: June 03, 2003 Business started: 10/31/2001 in UT Business started locally: 10/31/2001 Business incorporated: 10/31/2001 in UT
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:

Utah Division of Real Estate
160 East 300 South FL 2, Salt Lake City UT 84111
www.realestate.utah.gov
Phone Number: (801) 530-6747
realestate@utah.gov

Type of Entity

Corporation

Business Management
Mr. Greg Walker, CEO Ms. Marci McLean, Executive Assistant Britton Sharp, Principle Broker Mr. Garr Smith, CFO
Contact Information
Principal: Mr. Greg Walker, CEO
Business Category

Mortgage Bankers Real Estate

Alternate Business Names
Funding Pool, The RANLife Home Loans RANLife Mortgage RANLife Real Estate Inc. Residential Acceptance Residential Acceptance Network, Inc. Residential Processing Center UHAP Service Department

Additional Locations

  • 9272 S 700 E

    Sandy, UT 84070

  • PO Box 521749

    Salt Lake City, UT 84152

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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)

3/27/2015 Problems with Product/Service
1/7/2015 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: We were told we would close our mortgage loan 4 times. They called insurance and we have insurance on the house, but we have never closed. We contacted Ranlife May 8, 2014 for a home loan. They asked for the regular required loan documents such as pay stubs, bank statements, and W2s along with pulling our credit reports. We supplied these documents, and they said we could definitely get a loan through them. We also own 2 other homes. They said they needed an appraisal on the home we were purchasing and one of the other homes for a drive by. They came out and appraised the house we were purchasing for $30,000 less than another local bank had earlier that same month. They charged us $400.00 for one and $300 for the other appraisal. Then they did a drive by on the other house we owned, not the one they told us they were going to do. Then we were given a conditional approval on July 23, 2014 which we met and said we would close by the end of July 2014. Then again on July 25, 2014 we received another conditional approval. They called our insurance company to have them put insurance on the house, and told them that we were closing the next day. So insurance was put on the house. Then, they came back with some additional conditions. We then had to fax them some more documents. Then, they came back with they needed to switch the loan to a conventional loan because of their ridiculous appraisal on the house. Then, they decided FHA, then to an ARM loan, and back to an FHA. They told us at that point we would be closing in 3-5 business days. Needless to say that never happened. Each time we sent them documents they needed something more. We spent over $100 on faxing documents. We received final conditions from them on July 31, 2014. Conditional approvals July 23, July 25, August 25, September 12, September 15. We stopped giving them information because they said they had to wait for my child support to go down. Then once it when down. I talked to ***** once again asked if they would need pay stubs and he said no. They would only need a court document and we could close. We faxed the court document and of no surprise to us, he came back with well I need pay stubs and bank statements. Then sent another email with a long list of documents they needed again. This has now been going on for 6 1/2 months and has caused much stress for us and for the home owner that we are purchasing the house from. When a mortgage company gives you final conditions repeatedly and tells you that you will be closing and it is all a lie, they should be held accountable. We want our money back for the appraisals, the faxing, the paper we had to print all the documents on, and the 6 1/2 months worth of stress. We were also lied to about personnel along the way. We began dealing with ***** ******. Then, a month into it, she called and said she was no longer a loan officer so we need to deal with ***** ******. Only to have ***** call us a month later asking for documents. We said we were dealing with *****. Once we told ***** we had enough, we were then contacted by ***** *******. He promised us he would get the loan closed and that this was ridiculous the way it had been handled. However, nothing changed with him either. People need to be alerted about the scam of this company. We hope for the reimbursement of this mess, and public awareness of what this company does to people.

Desired Settlement: We are requesting the settlement of the cost of the appraisals, faxing, paper, and stress of the ordeal.

Business Response: Contact Name and Title: **** ********, VP
Contact Phone: ************
Contact Email: *****@ranlife.com
We will contact the client to resolve the issue.

Consumer Response: We are not willing to provide them with any more information because every time we do they always want more. They have had the "correct" information every time they asked for it. The least amount we are will to accept from them is $800 for all the expenses including but not limited to the appraisal, paper, the cost of all of the faxing of the ridiculous requirements and always needing more documents that no other bank has even heard of someone requiring. The waste of time and gas taking items in to be faxed in town, which at the time was a 15 minute drive. We also want the hard inquiries removed from our credit report. There were at least two for my wife and myself. So our middle ground offer is $800 and the removal of the hard inquiries from our credit reports.

Business Response: The information we are requesting will verify some of the information provided on the loan application pertaining to the client's occupancy. This client has two other properties and is looking to purchase a third which makes this a more complicated file and adds to what needs to be documented. We cannot close the loan unless the information we have requested is provided as it proves that the client is going to occupy the residence he is purchasing. We have tried contacting the client several times to resolve this matter and are still willing to reimburse the client for appraisal cost of $400.00.

Consumer Response: (The consumer indicated he/she DID NOT accept the response from the business.)
Ranlife knew of our situation with other properties and they still promised they could get the loan done. How many people live in the house they are trying to purchase??? In this case we do and have proved that. This just helps explain the ridiculous requirements that they keep adding. We were told this loan was going to be closed at least 5 times. We do not believe them that it will be closed if we submit more information continuing to raise our costs in faxing, paper, and time.
Now I have a bill from Farm Bureau insurance, the insurance company that Ranlife called and told we were closing the next day. The letter states that Ranlife didn't pay the homeowners insurance out of escrow as they promised. The letter states that they can hold us accountable for the insurance premium. The premium is $1222.10. Ranlife is responsible for this payment as well. They contacted Farm Bureau and had them begin the premium lying to them as well telling them we were closing the next day.

Consumer Response: We will accept the $400 back, but we will not sign anything because we are not satisfied at all. This just proves the unreliability and the unfairness of this company. They are not even willing to "right their wrong" We also want to make sure that this incident remains against the company so other consumers are alerted to the games the company plays.

Business Response: RANLife feels that $400 is a middle ground since the client is not willing to provide the information requested to finish the loan. It is important to note that the $400 charge all went to a third party appraiser. If the client is not willing to accept a reimbursement of the appraisal cost as a resolution then we will need to move forward with arbitration.

Consumer Response: (The consumer indicated he/she ACCEPTED the response from the business.)
Since we got Farm Bureau to cancel the policy realizing it has never been in place, we no longer have to hold them accountable for the $1200 Homeowners policy. So we will accept the offer.

11/13/2014 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: They led us on until after our closing date and wasted our money. Then decided not to give us a loan. They could have told us much early NO. We contacted Ran Life about a home loan they pre- approved us quite quickly. We put an offer in on a house and moved forward put down earnest money. Paid for two home inspections. We were told we might be able to close early well less then a week from closing they start questioning things that should have be questioned much earlier like past employment from 3 years ago. My husband who was in the air force and is a construction union. Construction is one of those jobs that once the job is done you move on to a new one. Well this held them up for a while and we had to jump throw a lot of hoops. Then my husband was placed on a picketing job for the union because they were protesting a job being given to out of state workers. They then wanted a letter stating that he was not on strike but being paid to picket. After they got that letter they decided that they could not give us the loan because my husband is on probational period for another month and a half with the union. They should have done all this before we had to pay for the 2 inspections that they required and when they wanted. At the time the inspections were all that were holding us up. In the end they wasted our time and the time of our Realtors', and the sellers of the house.

Desired Settlement: We would like to get the money we paid out in earnest money and for the inspections back from the company.

Business Response: Contact Name and Title: **** ********, VP
Contact Phone: ************
Contact Email: *****@ranlife.com
The staff at RANlife worked very hard to make this file work. The challenge was the client's employment history as stated in the compliant. RANLife was never informed that the status of the client's job was probationary until the very end of the process. As part of the process verification of employment was ordered. The client's employer delayed getting the information back due to the HR representative being on vacation. RANLife had no reason to believe the client would be listed as a probationary employee. We will contact the clients and make an effort to resolve the issue with the client.

Consumer Response: (The consumer indicated he/she DID NOT accept the response from the business.)
The called my husband and left a message 2 days ago. We have both tried to contact them multiple times and have left messages but they have not called us back

Business Response: We exchanged messages on the 16th and spoke on the 17th and again on the 20th. We are working towards a resolution.

Consumer Response: (The consumer indicated he/she DID NOT accept the response from the business.)
They suggested that we sell the appraisal we had done on the house and also the structural report as well in an attempt recoup our loses. We contacted 2 Realtors and another bank and they all said that this was not a possibility and they did not think it was legal. They also suggested that we attempt to close on the house in December when my husband's probationary period is over and that the house will most likely still be on the market. We did get our earnest money back but only because there was another offer on the house that we were trying to buy that was accepted. The realtors' office did call the bank to see if the structural inspection could be sold to them they were told no and that it was not legal and they would not need one any way.

Business Response: Contact Name and Title: **** ********, VP
Contact Phone: ************
Contact Email: *****@ranlife.com
The appraisal is a VA appraisal and if another VA loan is attempted on this property withing 6 months they will be required to use it. This can be easily validated with VA. The inspection would be usable. If the new buyer of the home is doing a VA or FHA loan it will most likely be required. Per the client in our last conversation they had not paid for the Engineers report so I do not understand the request for reimbursement.The client was going to find out what the options where with the seller and call us back. We will reach out to the client and come up with a final solution now that we are certain they will not be buying this home.

Consumer Response: (The consumer indicated he/she ACCEPTED the response from the business.)
They finally did refund us the money we paid. The issue we with this company was that we were very open and upfront about our finances and where my husband stood in his employment. We asked multiple times before we even paid for the appraisal if they were sure we could get the loan. We were told multiple times that they did not see any problems. Well in the end there were and we were told that we were going to have to pay for the Engineer's report on the house we were not able to buy. We were not asking them to give us that money unless we were going to have to pay it. The thing that really upsets us is that we started dreaming of having a home of our own again and we did try to keep our feet on the ground about this which why we kept asking if we would be able to even get the loan. Now we are stuck still living with my husbands family. The house we were going to buy has been sold. We have been unable to find one that will suit our needs and ever growing family other then that one in the local market unfortunately houses that require very little work are few and far between here. It could be that we were the rare case for this company but I can honestly say that they were hard to get a hold of most of the time we could call and get voice mail and not hear back for a week or get a email the next day, and I would not recommend them to a friend unless I hated them.

10/27/2014 Problems with Product/Service
4/17/2013 Problems with Product/Service
4/3/2013 Problems with Product/Service
3/13/2013 Problems with Product/Service