Need to file a complaint?
BBB is here to help. We'll guide you through the process.
Complaint Details
Note that complaint text that is displayed might not represent all complaints filed with BBB. See details.
Initial Complaint
09/20/2021
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
I was working with MLD Mortgage to refinance my mortgage. They ordered a home appraisal for which I had to pay $450, which they said will be reimbursed at closing.Apparently, the home appraisal they ordered was not the correct one. Then they asked that now I need to pay another $450 for another home appraisal which they claim will again be reimbursed at closing.I opposed that I have already paid for a home appraisal and if they ordered the wrong one earlier, it is their problem and they need to pay for the right one.They said if I didn't pay the additional $450 for the new appraisal I would forfeit the earlier $450 I had paid as it would not be reimbursed.My only option for me was to pay additional $450 for their mistake or lose my original paid $450!Business response
12/06/2022
MLD Mortgage Inc. d/b/a The Money Store( MLD) is in receipt of your BBB Complaint dated 9/21/2021. MLD takes the matter seriously and upon a full investigation, the ********************* found the following:
MLDs Loan originator advised that your loan closed on 10/7/2021 and is set to fund on 10/13/2021.
Please see the attached CD which provides the following: The CD shows $7,172.00 in lender credits which includes the cost of $900.00 for 2 appraisals.
MLD appreciates and values your business and apologizes for any inconvenience that *** have occurred.
If you have any question or further concerns, please do not hesitate to call or email.Initial Complaint
06/30/2021
- Complaint Type:
- Product Issues
- Status:
- Answered
On June 16th, 2021, the Money Store sent me the Disclosure Package which included the interest rate lock-in agreement, and notified me I can close my refinance soon. But I already planed my trip from June 24th to July 28th, 2021 before they committed the refinance would be closed soon and the interest rate is 3%. So I canceled my trip with a loss. Then they started to request the documents which I already provided to them and they told me those were good months ago. But they refuse to accept those documents now after they sent out the Disclosure Package. The disputes are first if the documents which I provided are unacceptable, why wouldn't they inform me earlier? Second, why they started to challenge my documents after they had committed the interest rate. I doubt the interest rate is going up and they regret to give me that low. Finally, if they didn't tell me the refinance would be closed soon, I didn't need to cancel my flight with a loss. And they haven't tried to resolve it.Business response
12/30/2022
TheLoan was waiting for a POA and th eloan has since closed at the rate of 3% lower than at application and closed on 9/8/21.Initial Complaint
06/02/2021
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
Account ********** Loan transferred in April. April’s payment of $1600 was sent to TMS (they acknowledge receiving on 4/8). New servicer has not rec’d that payment. I have called TMS at least 10 times. Each time they treat it as a new issue, promise to escalate it, and then do nothing. They claim to have sent payment to new servicer on 4/15, but will not provide documentation. New servicer says not rec’d. I have had to make duplicate payment to new servicer and still can’t locate the original. Have proof from my bank that TMS got payment, but cannot get proof from them of sending to new loan company. So frustrated!Business response
06/03/2021
Hi, we have checked our database and cannot locate this borrower, we believe that this may belong to The Money Source (TMS) we are MLD Mortgage, Inc DBA The Money Store
*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩
BBB Business Profiles may not be reproduced for sales or promotional purposes.
BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.
When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
BBB Business Profiles generally cover a three-year reporting period. BBB Business Profiles are subject to change at any time. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.
As a matter of policy, BBB does not endorse any product, service or business.
Customer Reviews are not used in the calculation of BBB Rating
Contact Information
30 B Vreeland Road
Florham Park, NJ 07932-1926
Want a quote from this business?
Get a QuoteCustomer Complaints Summary
3 total complaints in the last 3 years.
0 complaints closed in the last 12 months.