Complaintsfor1st Priority Mortgage, Inc.

• Initial Complaint

  08/19/2021

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Resolved

  More info

  In April 2021, 1st Priority Mortgage had a double look at your mortgage program and when they checked to see if they could get a better mortgage offer for you, whether we used their service or not, they would give us a $50 ******** ******* Gift Card. I was not satisfied with their customer service and decided to use another lender. On May 12th, I asked Ross B***** about the status of our gift card and that we have not received it yet. He replied that it was submitted the previous week to be sent out. I further asked who the 3rd party vendor was and what address he sent it to as our mortgage application had 2 different addresses on it. He said he would get back to me with that information. June 9th, I still had not received the gift card and I emailed asking about the status. HE had not told me any of the info I previously asked for, and he did not respond to this email. July 22nd and Aug 12th, emails sent with no response again.

  

  Business response

  09/02/2021

  To Whom It May Concern:   1st Priority Mortgage, Inc. is committed to providing our customers with excellence in customer service.  Based on our review it appears that Mr. ****** spoke to our licensed Mortgage Consultant in April, but opted to continue with his previous lender. His participation in the 2nd Look program made him eligible to receive a $50 gift card as our thanks for giving us a chance to offer a second opinion. Mr. ****** spoke with our Regional Sales Manager on August 19 to confirm that he had not received the gift card. 1st Priority researched and determined the original gift card had been mailed to his new residence, but took immediate steps to send a replacement. Mr. ******’s address was confirmed and a replacement gift card was mailed out on August 23. Both our Regional Sales Manager and Compliance Manager have reached out to Mr. ****** in an effort to confirm he has received the card, but neither has received a return phone call to confirm.  1st Priority Mortgage, Inc. is dedicated to taking any customers’ concern seriously and focus our efforts to make sure we are addressing such concerns in a timely fashion. Should you have any other questions or concerns, please feel free to contact me directly at the phone number or e-mail address listed below. Sincerely,  Amy L. S******  Compliance Manager
  1st Priority Mortgage, Inc. 

  Customer response

  09/02/2021

  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.  Regards,  ***** ******
  
  
  
  
  

• Initial Complaint

  08/03/2021

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I recently purchased a home and 1st Priority set up all the paperwork for the mortgage. When 1st Priority set up the paperwork they put in the file, that PMI insurance can never be removed for the life of the loan, which is 30 years. PMI insurance should drop off when you payoff 20 percent of your homes value. Because of 1st Priority doing this they are costing me an extra 31 thousand dollars through the life of the loan. I am not rich and times have been tough, nobody should have to deal with stupidity like this.

  

  Business response

  08/13/2021

  1st Priority Mortgage, Inc. is committed to providing our customers with excellence in customer service. Based on our review it appears that Mr. ********* began speaking to our licensed mortgage consultant to determine his options for a purchase transaction in late spring 2016. There are many factors in determining an individual’s loan options, with his permission provided, credit was reviewed and his debts evaluated. The mortgage consultant then reviewed this with him and determined that according to secondary market requirements he would be eligible for an FHA loan. The collateral, credit history and debt to income ratio are a few of the factors that are part of a mortgage loan process.  Program guidelines must be met in each segment of the review for a loan to be ultimately be approved and closed in concert with secondary market requirements. We understand the frustration expressed with the mortgage process and the inability to eliminate FHA’s Monthly Mortgage Insurance (MMI) from his existing loan. FHA requires MMI to remain for the life of the loan when the loan-to-value exceeds 90%. This requirement is detailed in mortgage loan disclosures, including the Informed Consumer Choice and Important Notice to Homebuyer. Several other documents indicate the loan type as FHA, including the pre-qualification letter, loan application, commitment letter, Loan Estimate and Closing Disclosure.
  
  1st Priority Mortgage, Inc. is dedicated to taking any customers’ concern seriously and focus our efforts to make sure we are addressing such concerns in a timely fashion. Should you have any other questions or concerns, please feel free to contact me directly at the phone number or e-mail address listed below.
  
  
  Sincerely,
  
  Amy L. Strauss
  Compliance Manager
  1st Priority Mortgage, Inc.

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