Reliance First Capital TRUSTED BUSINESS REVIEW: Customer Satisfaction Commitment: Reliance First Capital remains committed to customer satisfaction. As a direct-to-consumer mortgage lending firm, they know that their customers are their number one priority so providing great customer service is always their focus.
REVIEW UPDATE: April 4 2016: Reliance First Capital remains committed to increased customer satisfaction and has improved their business practices over the years to better serve their customers. Reliance First Capital is truly dedicated to making sure their customers are satisfied and that any complaints which do arise are addressed promptly and fairly.
To date, Reliance First Capital has made good faith efforts to resolve all complaints reported on Rip-off Report. Based on our experience, the member business has proven to be among the top members of the Rip-off Report Corporate Advocacy Business Remediation and Customer Satisfaction Program as a Verified Safe Business™.
Over time and since becoming a member, Reliance First Capital has remained actively engaged and improving the way they address customer service complaints. As an active and current member of the Rip-off Report Corporate Advocacy Business Remediation and Customer Satisfaction Program we are happy to report that now more than ever Reliance First Capital remains committed to improving customer satisfaction.
Remember, no company or individual can ever satisfy 100% of the people 100% of the time. There are no products or services that will always be perfect for everyone and even the best companies will receive complaints from time to time. However, by participating in the Corporate Advocacy Program, the member business has made a commitment to working with its customers to resolve complaints quickly and fairly whenever possible.
Please keep in mind that as a consumer you have some responsibilities as well. Success has many definitions that based on your past experiences, current situation and your perceived expectations. Success with any product or service is always based on the proper application and understanding. The fastest car will not run if you never turn the engine on. Look at how you used the product or service that was provided in relation with the instructions that you received. The Corporate Advocacy Business Remediation and Customer Satisfaction Program will help you get your voice heard but please be prepared with documentation and fair representation of your concern, also have an idea of how the company can fix your concern. Can they offer additional services, extend warranties, offer a fair refund or just get you talking with someone that can help. ..let them know and let us know!
*Any consumer not receiving satisfaction from a member of the Corporate Advocacy Program should email us at editor@ripoffreport.com
Ripoff Report Verified™ .. part of Ripoff Report Corporate Advocacy Business Remediation & Customer Satisfaction Program.A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business..
Ripoff Report Verified REVIEW: EDitors UPDATE: A positive rating and recognition has been given to Reliance First Capital, LLC (NMLS # 58775) for its commitment to excellence in customer service. As a direct-to-consumer mortgage lending firm, they know that their customers are their number one priority so providing great customer service is always their focus. Their dedication to superior customer service is fortified by continuous employee training on many levels. Furthermore, I think its important to point out that their Mortgage Analysts go through rigorous testing and background checks by the Federal Government, State Governments and by the organization itself. Also, every one of their Mortgage Analysts is registered with the National Mortgage Licensing System & Registry (NMLS) as is the company (NMLS ID: 58775). All of this should give you, the consumer, a strong level of comfort when dealing with both their company and their Mortgage Analysts. Most of the information provided in this report is based on comments made by Larry Karpen during an on-site inspection held by a third party verification company with no biases toward Reliance First Capital. Reliance First Capital handles millions of phone calls per year, works with hundreds of thousands homeowners and has closed billions of dollars in loans. The Company has thousand of satisfied customers across the nation who have obtained their financial goals and improved their lives because of the dedicated mortgage specialists at Reliance First Capital who provided excellent customer service. Larry Karpen, a Vice President at Reliance First Capital, has spoken with Ripoff Report and he further confirmed their Companys commitment to customer service. As a direct-to-consumer lending firm and we never forget that we are here to serve our customers, explained Karpen. So much so, that after a loan is funded, we ask all of our customer to complete a survey and rate their experience. We showcase the results on our website for all to see as well as comments/testimonials that our customers have authorized us to provide. That is just one way how we continue to ensure that our dedication to superior customer service is maintained.
Ripoff Report Verified .. part of Ripoff Report Corporate Advocacy Business Remediation & Customer Satisfaction Program.A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business..
At Reliance First Capital, the entire process begins and ends with our experienced Mortgage Analysts, continued Karpen. And, as stated previously, theyve been put through rigorous testing and background checks by the Federal Government, State Governments and by our organization. Also, every one of our mortgage analysts are registered with the National Mortgage Licensing System and Registry (NMLS). In addition, consumers can be comforted to know that any information collected by our Mortgage Analysts is entered into and kept in our secure password-protected proprietary loan origination system, so you can be sure your information is safe. The safety and confidentiality of personal information is, and will always remain, of paramount importance to Reliance First Capital. Headquartered in Melville, NY, the Company has helped thousands of homeowners realize their financial goals by refinancing a current mortgage or procuring a new home mortgage. With over $1.5 billion dollars in loans originated, the Company has six origination centers located in Tennessee, Pennsylvania, New York, Ohio and North Carolina. The Company serves homeowners in 25 states across the nation and has recently been voted a TOP TEN company by customers on LendingTree.com. The Company offers a wide range of loan programs including FHA, conventional, VA, Jumbo, USDA and more, and works with consumers with all types of credit history. The typical standard mortgage transaction starts when the consumer contacts Reliance. The client is then assigned an analyst to discuss the desired goals. Once a product is chosen, permission is obtained to run the clients credit. Upon favorable review of the credit report an appraisal is ordered for the client property. If the appraisal is in accord with the loan requested a customized loan program is formulated, client documents are obtained, and a loan package is put together and then forwarded to the underwriting department. The underwriters can approve, deny or request additional stipulations from the client. If all the paperwork is approved a title search is conducted. The final step in the process is to set the closing date and to fund the loan. Leads are generated through internet services such as LendingTree.com or LowerMyBills.com or they are received through telemarketing. Once a lead is generated a sales call is made to discuss the consumers needs and goals where a customized loan program can be established. The companys standard practice for follow up is that a manager will call all new clients to ensure that their goals are being met and to explain any items that are not understood. The manager also provides a second point of contact with the client. Follow-up is also done when the customer surveys are received. If the customer expressed any issues or concerns a manager will call them to discuss the problems and to find ways on how to improve. Furthermore, Reliance First Capital is working to enhance current processes by holding weekly staff meetings with personnel. Discussions include what is working well and how they can correct items that need improvement. Employees receive ongoing training and education while employed with the company. The most common complaint the company receives is that the consumer was not happy with or did not agree with the appraisal report. When this scenario occurs the consumer occasionally demands their money back. Because appraisals are conducted by a 3rd party which is in no way affiliated with Reliance First Capital, the company has no control over which appraisal company is chosen. The work was completed making it that the appraiser is entitled to payment even if the client is not happy. This is explained to the client both before and after the appraisal is done. There have been instances where Reliance has refunded the client out of their own pocket. A standard practice that Reliance uses is to generate a survey after every deal is completed. An example of this is Reliance recently had a client who felt that the appraisal report was not correct. Reliance reviewed the report and even though they found no errors or wrongdoing they refunded the client the cost of the appraisal. The customer was satisfied with the outcome and sent an email thanking Reliance First Capital. Reliance First Capital ensures that there is a clear and constant communication with their clients. Any customer concerns or issues that arise are handled promptly and efficiently by the customer service department. Since Ripoff Report, every complaint received is now personally addressed by the customer support supervisor via telephone. This occurs usually within the first 24 hours that the complaint is generated. Reliance First Capital has also enrolled in the Corporate Advocacy Business Remediation and Customer Satisfaction Program. The company feels that it is a benefit to be associated with the Corporate Advocacy Business Remediation and Customer Satisfaction Program. By being a part of the program it shows existing, as well as potential clients that Reliance First Capital has concern for and cares about their clients. It highlights that even great companies get complaints from time to time, and part of a measure of a company is how it handles those complaints. Reliance First Capital recognizes that complaints posted on Ripoff Report (whether true or not) are issues that need to be addressed, not ignored. They realize, if handled correctly, complaints can be valuable learning opportunities. With the feedback generated by Ripoff Reports review, Reliance First Capital has made organizational changes allowing its clients and employees a more streamlined approach to problem resolution and a commitment to a great client experience. In summary, after our investigation, which included discussions with Reliance First Capital, Rip-off Report is convinced that the company is committed to quality delivery of services resulting in total client satisfaction. Read more about why consumers should feel confident when doing business with a member of Ripoff Report's Corporate Advocacy Business Remediation & Customer Satisfaction Program. Yes, its a long name for a program that does a lot for both consumers and businesses alike. Read about Ripoff Report Corporate Advocacy Business Remediation & Customer Satisfaction Program,.. A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. this program works. As a matter of policy, when a business becomes a member of the Corporate Advocacy Program they agree to allow Ripoff Report to contact every client who filed a complaint so they can make things right with them. In order to confirm that the complaints were resolved, Ripoff Report is copied on all responses so we can insure that the member business did right by their customer .. ======= NOW TO THE ORIGINAL REPORT THAT WAS FILED =======
Reliance First Capital,LLC Robert Ruggiero Refinance Fraud Charlotte, North Carolina
I was contacted by Robert Ruggiero with Reliance. He got my information off an inquiry I made regarding refinancing on the internet. He told me that he felt based on my information provided on the web, he could work something out.
I got several phone calls from this person as well as his manager telling me it should go smooth. My only out of pocket expense would be the 400.00 appraisal fee. He also told me to plan on skipping my payment to my current mortgage company, and enjoy that money, even encouraging me and my husband to "take yourself out, and treat yourselves". The appraisal was completed, and much to my horror, came back at a price we paid 16 years ago when we bought the home. It came back almost 50,000 dollars less that anticipated. He claims he didn't understand, and he would get back to the company that did the appraisal. His last statement to me was on a Friday--that Monday I received a denial in the mail stating I had been denied the refianance due to the appraisal being low, as well as listing some credit issues.
When I tried to contact him to clarify why my credit was being referenced in the denial after being told my credit was good. No response. I tried to contact him on several occassions by email to request a copy of the appraisal, no response for over a week. When he finally did respond he told me he would send a copy. He also told me perhaps I could at least get my home taxes readjusted, since my appraisal had come in so low. I cannot get them to provide a copy of the appraisial. I got all types of calls when Robert and his manager (Ed Bailey) were trying to convince me to work the deal.
My thoughts is the appraisal company and Reliance are working together. They are profiting off people that they feel desperately need help in the economic times.
I do not have 400.00 to lose.
3 Updates & Rebuttals
Steve
pittsburgh,Pennsylvania,
U.S.A.
Not really Loan Originators fault
#4Consumer Comment
Thu, June 14, 2012
Shiela,
I agree with you that Robertss customer service was poor after the low appraisal, but there is absolutely no way that RFC and the appraiser are in cahoots. Large companies like RFC are required to use appraisal management companies (as are most lenders). Robert has no way of knowing what your home will appraise for and the Dept of Banking now prohibits loan originators with speaking with an appraiser beforehand.
Although I understand your frustration, you anger should be directed at your neighborhoods declining home values.
Sean C
Sheila
Stone Mountain,Georgia,
United States of America
RELIANCE FIRST CAPITAL, STILL MISREPRESENTING THE TRUTH
#4Author of original report
Sat, April 03, 2010
Since I'm being made out to be a liar...here is the ENTIRE email string attached. Mr. Ruggiero did not attach the entire email string. I wonder why? I also wonder why I AS OF THIS DATE I HAVE NEVER RECEIVED a copy of the apprasial. The email he attached with the comment "people have already tried to get their taxes adjusted"...was due to the reply on the phone to me by Robert. He said "well, perhaps you can get your taxes adjusted since you didn't get financed. He never contacted me to state I was not approved. I had to continue to call and email before he would respond. AS OF THIS DATE, NO COPY OF A APPRASAL HAVE BEEN PROVIDED!!
When I asked for the copy, he claims my email would not take the file. However, he managed to sent the original loan papers to the same address (which was over 40 pages). I had my home address, and never attempted to even MAIL the copy of the appraisal.
Here are some of the emails that he didn't attach.
--- On Fri, 3/19/10, Sheila HARRIS <wrote:
Robert
United States of AmericaFeelings over fact.
#4REBUTTAL Individual responds
Fri, April 02, 2010
The rip off reports claims that it will only publis fact, This claim about me has no fact or proof, I have attached the string of emails between myself and the customer. I would like for the Rip Off Report to remove my name and my company from this complaint.
--- On Sat, 3/6/10, Sheila H (((Redacted))) wrote:
From: Sheila H (((Redacted)))
Subject: RE: 2ND REQUEST--Fw: NEED STATUS ON HOME LOAN
To: "Robert Ruggiero" <rruggiero@reliancefirstcapital.com>
Cc: "Andre H (((Redacted)))
Date: Saturday, March 6, 2010, 7:45 PM
Robert,
Thanks for all your work on this loan. However, at this point I'm uncomfortable with pursuing this any further.
If the house is appraising that low, I'm not interested in going deeper in debt by owing more overall on a mortgage.
This was my fear on the onset of this whole deal. However, I need thought it would appraise at the price I paid almost 16 years ago.
It now appears I'm $400.00 poorer as a result. In addition, in response to your suggestion we could get our taxes reduced....that's not likely. It is has been tried by several folks in this county much to no avail.
Please have a copy of the appraisal sent as soon as possible.
Sheila
--- On Fri, 3/5/10, Robert Ruggiero <rruggiero@reliancefirstcapital.com> wrote:
From: Robert Ruggiero <rruggiero@reliancefirstcapital.com>
Subject: RE: 2ND REQUEST--Fw: NEED STATUS ON HOME LOAN
To: "Sheila H (((Redacted)))
Date: Friday, March 5, 2010, 9:35 AM
Im sorry Sheila.
I was out of the office most of the week, We got the appraisal in and it came back at 110,000.
The appraiser used 2 foreclosures in the appraisal and that killed the value. We did sent a email
To the appraisal company and we are waiting to hear back, I should get a answer by Monday.
Robert Ruggiero
NMLS ID # 218272
Mortgage Analyst
Toll-Free (866)970-1550 ext.1536
Direct Line (704)970-1536
Mobil (704-761-4957)
Fax (866-678-8495)
Email: rruggiero@reliancefirstcapital.com
From: Sheila H (((Redacted)))
Sent: Friday, March 05, 2010 7:20 AM
To: Robert Ruggiero
Subject: 2ND REQUEST--Fw: NEED STATUS ON HOME LOAN
Robert,
Today is 3/6/08, and we still have no status as to what is going on with this loan.
Can you please contact one of us? Perhaps you are out of the office?
Sheila
--- On Wed, 3/3/10, Sheila H (((Redacted))) wrote:
From: Sheila H (((Redacted)))
Subject: NEED STATUS ON HOME LOAN
To: rruggiero@reliancefirstcapital.com
Cc: "Andre H (((Redacted)))
Date: Wednesday, March 3, 2010, 7:44 PM
Robert,
We had attempted to call you on several ocassions without a return phone call.
We need to understand the status of this loan. The 6th is quickly approaching, and I need to understand when we would possibly close.
Depending your on response, this could possibly determine if we need to make the March payment to Citifinancial.
Please contact us asap.
Andre and Sheila H
(((Redacted))) - Andre Cell
(((Redacted)))- Sheila Cell
(((Redacted))) - Home phone
CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.