ComplaintsforDirect Home Lending

• Initial Complaint

  02/22/2024

  Complaint Type:

  Customer Service Issues

  Status:

  Resolved

  More info

  *********************************** NMLS ****** has been harassing me on behalf of Direct Home Lending since Jan 31st. I have told him multiple times that I do not want to refinance my home and to stop contacting me, I have told him 3 separate times to stop contacting me and he still has continued to do so.

  Business response

  02/22/2024

  Hi 

  We have made sure you have been removed from any correspondence moving forward.  We apologize if it caused you any stress.  Our system should have immediately removed you but this did not happen so we have manually done so.

  Customer response

  02/23/2024

   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.

• Initial Complaint

  08/16/2021

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  My name is **** A. ******, I recently applied for a home mortgage loan with Direct Home Lending. I gave my consent to them to access my credit report, only. I never agreed to extend my permission to include Advantage Credit Inc., or any other company or agency, with the exception the three Major Credit Bureaus. This is an inde- pent and separate entity, without any legal ties, policy or procedures binding them to Direct Home Lending, which makes them a third party, enabling them to use my credit information in whatsoever manner they deem appropriate, without my consent. I immediately contacted Advantage Credit Inc. and they informed me that the formula their company uses is not the same formula used by the bureaus, TransUnion, Experian or Equifax. It was TransUnion who warned me about being careful when using private companies such as this, rather than the bureaus directly, because these are the ones that are using several different formulas, you can put yourself at risk

  Business response

  09/01/2021

  Hi ****,

  
  

  We did attempt to contact you and did leave you our number to call us back.  Please feel free to call if you would like to ask any questions or get more information.  

  
  

  Lenders are not allowed to pull a TRI MERGE credit reports directly, we are required to use a intermediary.  This is the same for the smallest lender all the way to the largest in the nation.  That being said the intermediaries do not have any formula they use.  The scores are given out only by the 3 main credit bureaus and they just deliver the information that Experian, Transunion and Equifax provide.  Unfortunately, the person you spoke with at Transunion gave you bad information.  You might be wondering why if you pull with a bureau directly your score is better then when a lender does it.  This is because a mortgage is a larger debt so it is scored differently then if you pull your credit or if you go to buy a car.  This different formula is not calculated by anyone other than the actual 3 credit bureaus.  

  
  

  I hope this helped but we would be glad to answer any further questions you may have.

  
  

  Thank you for your time

  Customer response

  11/03/2021

   I am rejecting this response because:
  
  

  In response to your email sent October 25,2021, ID# ********. There were no intermediary or

  Tri Merge reports mentioned, but to my point, I had not been made aware of any other business

  or affiliates involvement with my credit report, only with the exception of Major Bureaus, so I 

  thought. There were no other references made about other ties to Direct Home Lending or entities

  used that might be involved. TransUnion provided me good advice and good information, because

  I contacted Advantage Credit Inc. and they confirmed to me that their formula is different than 

  TransUnion, Equifax or Experian, consequently costing  me my purchase at the time.  The Bureaus

  has always set the standards for the Real Estate market for decades, and they still do. So why is 

  Direct Home Lending using calculations inferior to the Bureaus, passing out the wrong ratings and

  disinformation on their consumers, afterward giving them the responsibility of having it removed.

  My scores were reverent with the Bureaus, for what I needed to do prior to this. My question is why 

  was the Bureaus scores wrong? It's not my first or second time buying a house and with every one

  I bought my lenders used the Bureaus to check my credit report.

  What's going on now?  Please explain.

  
  

  Business response

  11/03/2021

  Hi 

  
  

  
  

  Let me a bit more clear.  No lender in the country pull each of the 3 bureaus directly.  Every lender uses a credit reporting company and there are many.  It is not a choice that is how it works in mortgage lending.  That being said no matter who the credit reporting agency is they will show the exact same scores.  This means if you choose 100 lenders and you have them pull your credit you will get the exact same scores from all of them assuming you do them all on the same day.  You score that we were given at that time was the correct scores given to Advantage Credit by the 2 credit agency.  Advantage does not decide what your score is going to be the 3 credit agencies do.   Whoever you spoke to at advantage misinformed you.  

  
  

  I think I explained to you on the last response but the 3 credit agencies will report your score different on a mortgage pull then any other type of credit pull you do.  However the score 100% of the time is coming for the 3 credit agencies only.  

  
  

  If you want we can call advantage together so they can explain the same information I just typed, please let me know if you'd like to 3 way them.

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