PHH Mortgage Bank Account Or Service Complaint

PHH Mortgage Bank account or service department,

Other bank product/service Account opening, closing, or management California

To whom it may concern, My name is - -, I was referred from my former California credit union to apply for a loan ( a Mortgage company from New Jersey PHH mortgage company ) to purchase a condo in -. Beginning of - 2015 that PHH mortgage company approved me at - and informed me I would get a loan package via - / UPS with documents that needed to be signed, information about the company, about the loan, rate etc. within 24-48 hours. I never received that package. Around 6-8 days later ( Friday -/-/15 ) I received an email from the loan processor, who contacted me with his info and informed me that he needed specific documents by Monday -/-/15 to process the loan. I called him up and told him that I was waiting on the package that the orig. loan consultant had told me, so that I can send them over the documents. I was waiting for a week and nothing had come to my address, I even had called the company many times to find out if they had sent the package out.


him all documents such as - forms, income statements etc. and if he does n't get those documents by the - my loan would fall through and I could not continue with the closing process. I scanned my documents and emailed what he wanted. Days later that PHH MORTGAGE company had done an appraisal on the - unit/ condo that I was interested in and undervalued the property ( at - ), therefore PHH suspended / froze the loan because they did n't think the bidding price at - was ACCEPTABLE. In the meantime I paid for a home inspection at - $ plus western union fees, and the PHH Mortgage wants to charge me a non refundable fee at around - $ because the loan fell through. I called them up and said that they have n't rendered me a service because they never called me up or my agent when we wanted some updates on the process, they constantly delayed things and requested documents over and over again.those documents were already submitted by me or by my real estate agent. at the end they undervalued the loft, when the average prices of condos downtown - are around - and up.i believe they intentionally undervalued the loft to collect unreasonable fees from potential borrowers. Via Internet research it seems that PHH IS conducting business like that. It seems to me that this PHH mortgage company was scamming me and afterwards I was checking the Internet out and found out that they are taking advantage of consumers. They have many complaints with the consumer fair protection bureau, there 's is class action lawsuit against them for multiple fraud action. Warmest regards - -