ComplaintsforStormfield Capital Funding

• Initial Complaint

  04/25/2024

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  04/21/24 I applied for a bank statement loan against my property. The loan officer took my application and quoted me rates. The terms were sent to me. The original loan officer stopped contacting me after 24 hours. another loan officer told me the terms were now changed and the costs would be much higher. I was told an appraisal was necessary and was conducted. I requested a copy of the appraisal. No appraisal was provided. The 2nd loan officer stopped communicating with me. A third loan officer returned my request for the term sheet. I was sent higher terms and told only these higher costs would be offered to me and the loan was limited to half of the original terms. This was not acceptable. I demanded a full refund of $1100 deposit. I was sent a deposit return for for $30. They said that their office had used up $1070 with legal fees and office fees and nothing more would be returned. I am pursuing action of fraud across state lines with the ****** ******** ****** ** *********** and pursuing federal action against this company for fraudulent business practices with the ******** ********** ******* ******. I am seeking unspecified legal damages in the form of a class action lawsuit against Stormfield Capital Funding

  Business response

  04/25/2024

  This individual requested that we commit mortgage fraud by lending against his personal residence. We informed him that we could not do that. Pursuant to the attached, Letter of Intent (See Refundable Expense Deposit) we offered to return the balance of the Consumers funds after we orders appraisals, background checks, etc. After this individual threatened to sue us, we agreed to return $750 ( even though we have no legal obligation to do so).

  Business response

  04/26/2024

  Most Recent Message

  Date Sent: 4/25/2024 4:00:48 PM
  This individual requested that we commit mortgage fraud by lending against his personal residence. We informed him that we could not do that. Pursuant to the attached, Letter of Intent (See Refundable Expense Deposit) we offered to return the balance of the Consumers funds after we orders appraisals, background checks, etc. After this individual threatened to sue us, we agreed to return $750 ( even though we have no legal obligation to do so).

  Customer response

  05/02/2024

  
  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.
  
  Sincerely,
  
  ******** *******

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