- Report: #1038423
Complaint Review: Proficio - Colmbia Missouri
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Proficio
2614 Calvert Dr. Colmbia, Missouri, United States of America
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Proficio agent=Trace Bevel lowered cash required when told of other offers from other lenders Colmbia, Missouri
I was contacted by Proficio about a reverse mortgage. I refused to pay for an appraisal or a counseling fee. Proficio paid for both. I am sure the appraisal was legitament because the appraisal came to my home and spent nearly two hours doing the appraisal. Later I received a complete copy of the report, including photographs. I was told that I would have to pay $29,000.00 at closing as I was in a short fall condition. I had offers from other brokers for $23K and $24K respectfully. When I told Proficio about this, they dropped the closing fee to $23K. I have not signed anything other that the application forms as of this date, so I have not been scammed. However, since the closing fee was lessened by $7,000.00, I am somewhat skeptical now. I would like to know if this is still a safe and legitimate offer. It has not been determined as to when and how the short fall cash is to be paid. What kind of document or letter do I need to make sure that I am not being scammed? Let me add that I have been negotiating with Proficio since December, 2012.
2 Updates & Rebuttals
jackspratsr
pensacola,Florida,
Appology to Trace Bevel of Proficio Ventures
#2Author of original report
Sat, March 30, 2013
I would like to take this opportunity to appologize to Trace Bevel. I did not mean to place him in an unfavorable situation. Due to correspondence with other lenders, I became concerned about the actions previously mentioned and came to this site primarily for information concerning my particular situation.
However I did not mis-state any facts. I was told that Proficio wanted my business and was willing to forego some of the fees involved to accomplish this. For that I was profoundly appreciative. However I still think that the "bottom" line should have been stated, not in the beginning, but after negoiations had reached the point, before I had been contacted by other agents.
The branch manager from Proficio has contacted me and indicated that a "truth in lending" document would be forth coming within a few days. I presune that document will contain a "cash to the table" figure as well, as I still want to do business with Proficio.
I think this site performs a valuable service. But I will be more careful of my wording in the future, should I ever avail myself of your services.
I hope this post will serve as a "man up" response.
Thank you,
Lonnie Sutton
Justin Warner
American Fork,Utah,
Trying to be competitive
#3UPDATE Employee
Fri, March 29, 2013
I am the branch manager for the Proficio Mortgage office working on this file. It is disappointing to see that "no good dead goes unpunished." The customer in question recently had a life changing event and after presenting our office with a competitive offer, Mr. Bevell went to bat for this customer.
He approached me about how we could help this borrower, considering all the facts and his current life situation. We always work to provide the borrowers with a cost effective solution, yet, like every business, we are in business to make a profit. We work really hard to be competitive and ensure our clients are getting the best pricing possible. When the borrower presented us a better offer, we took the necessary actions to give him the best scenario.
Proficio Mortgage is a legitimate company who has helped hundreds of people secure reverse mortgages. We are regulated by multiple federal agencies and we only offer FHA insured reverse mortgage.
A few clarifications about the initial statements: 1. The borrower completed one of our web forms requesting information in October of 2012. We contacted him at is request. We have been "negotiating" since October of 2012. We, unlike many of our competitors, paid for his appraisal...we put our money where our mouth is.
By law, the lending documents are legal and binding. The document you need is the Truth in Lending document. Requesting a new Truth and Lending document will solidify those number. Lastly, with a reverse mortgage, after you have signed the final closing documents, you have 3 days to cancel the transaction, without any cost to you.
This is not a scam, nor a rip-off.
