ComplaintsforLow VA Rates
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Complaint Details
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Initial Complaint
12/03/2022
- Complaint Type:
- Service or Repair Issues
- Status:
- Unresolved
In 2020 we learned Lender, Low VA Rates, failed, in 2017, due diligence in refinancing a property debt of a home loan originated by Lender fraud - failed duty. Lender admitted not reviewing the underlying appraisal for accuracy or legal compliance of the manufactured home structure on the property. Had it done so, the fraud would have been discovered and the increased debt would not exist. In 2020 we discovered the HUD certification labels missing from the exterior of the manufactured home structure is due to the Labels officially removed after the structure was wrecked in transit and the ‘home’ was then decertified, not legally HUD compliant and not VA financeable. Lender had a fiduciary duty to Veteran to assure legal compliance for the refinanced, increased debt. Prior lender agent, w/ Eagle Home Mtg., (a Lennar Mtg. co.) admits the loan could not legally close without HUD certification in a VA home property loan. In 2020 we reached out to Fleetwood Homes which informed us the structure no longer legally exists. We obtained an IBTS letter confirming the decertified character. Lender, Low VA Rates, has been non-cooperative to resolve the of fraud by misrepresentation - failed professional and fiduciary duty. Fraud statute of limitation is 3 years from discovery – which was Sept. 2020. VA confirmed Lenders are to obtain HUD certification for a manufactured home on the property. Here, Lender failure concealed the underlying fraudulent incurred debt of the property upon Veteran. Real Estate industry have informed us that our property value is "land only", that the decertified, for salvage use, manufactured structure holds no value, and the remedy is removal and replacement. A home property is the most expensive single item purchase the average person ever makes in their lifetime. Fraud cheapens, and ultimately destroys everything it touches. Lender to Either: 1) prove 2017 HUD certification was obtained, or, 2) arrange with Veteran to remove illegal debt imposed.Business response
12/05/2022
The Borrower’s purchased a manufactured home and it was permanently affixed to property in December 2012. We refinanced this loan in 2017. Once a manufactured home is affixed, the “title” issued by the DMV is surrendered. The manufactured home is now combined with the land on the current title.
Loans on manufactured homes require a certification of a HUD label as well as certification of permanent affixture.
I can only assume she is trying to sell the manufactured home separately and therefore she is unable to provide any buyer the “title”.
I can include documentation if needed, but do not want these documents to be public on the BBB.
Please let us know if you need anything else.Thanks,
Business response
12/16/2022
I still have not recevied an email. When i get it I will send over the documentation. I was also alerted you have already been sent these document by our compliance officer Liz H*****.
Thanks,
Customer response
12/19/2022
Complaint: ********
I am rejecting this response because: very simply put, it is a false statement. (See attached)We requested the 2012 and/or 2017 IBTS verification that Lender, Low VA Rates was legally required to have obtained in their 2017 refinancing of the VA home property loan. The ONLY thing Low VA Rates (Ms. H***** included) provided us is the 2020 documentation we sent to them after fraud was discovered connected to loan. Low VA Rates, as Lender, failed legal duty to obtain the IBTS verification in 2017 and disclose the fraud earlier.
The debt was illegally imposed by Lender, Low VA Rates, against us, the Veteran and wife. Low VA Rates has proved that they knew legal duty was to obtain IBTS documentation. The question is, why did they neglect the vital, legal duty? Likely the answer is simply, the money.
The concealed fraud of 2012 was a continued theft against us, by Low VA Rates, Lender, in 2017. Low VA Rates collected over $8K in the 2017 refinance and continued the original illegal debt imposed debt of over $144,900.
And, we are only one voice here. If accepted practice of Lender, Low VA Rates is to neglect/fail legal duties in finance transactions, for profit, it should be more than a red-flag warning to more than the BBB.
We again request that the BBB require that Lender of 2017, Low VA Rates, provide the documentation of:
1) IBTS verification of HUD compliance in 2012 and/or 2017.
2) Verification of DMV surrendered “Title”
Or, we require that Lender, Low VA Rates, admit that it never obtained any 2012 or 2017 IBTS verification document and it had no DMV evidence of any surrendered “title”. If Low VA Rates, as Lender, cannot provide evidence of this legal compliance, to prove it met its legal-fiduciary duty, then Veteran requests full remedy.
That Low VA Rates, as Lender of 2017, initiate the cancelling (paid in full) of this illegally imposed debt against us, and that Lender make arrangements with all necessary “Servicers” to document “paid in full” mortgage to Veteran. Further, that Lender, Low VA Rates initiate the process to remove and to replace the decertified manufactured structure with a legal home of our choosing, of equal or greater value of our intended purchase.
The Veterans' Administration has confirmed to us that it is the duty of Lender to obtain the IBTS verification.
It is our hope that Lender, Low VA Rates, stop playing games and wasting time.
Sincerely,
**** *******, Veteran And **** *******, adversely affected wifeA home property is the most-expensive, single-item purchase that the average person will ever make in their lifetime. Fraud cheapens, weakens and ultimately destroys everything it touches.
Initial Complaint
04/14/2022
- Complaint Type:
- Customer Service Issues
- Status:
- Unanswered
low va rates keep calling me, texting me, emailing me. They wont Bug off
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Customer Complaints Summary
3 total complaints in the last 3 years.
0 complaints closed in the last 12 months.