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Prime Choice Funding, Inc. complaints

17852 East 17th Street Suite 107
Tustin, CA 92780
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(714) 744-0200

http://www.primechoicefunding....

Customer Service: Monday Through Friday 7:00 AM-6:30 PM PST

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Total Amount in Dispute:
$50,414.00

Total Amount Settled:
$50,414.00

Complaint Experience

100%

Complaint Resolution Index (CRI)

BCA's Summary and Analysis:

Our complaint history for this company shows the company gave proper consideration to complaints presented to them.

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Complaint Closing Statistics

8 complaints against Prime Choice Funding, Inc. closed in last 3 years.
Complaints Type of response
0 Making a full refund, as the consumer requested
1 Making a partial refund
6 Agreed to make an adjustment
0 Refusing to make an adjustment
1 Refuse to adjust, relying on terms of agreement
0 Unanswered

8 complaints against Prime Choice Funding, Inc.

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3/27/2020

RESPONSE: Agreed to make an adjustment Amount in Dispute: $50,000.00 Amount Settled: $50,000.00

Customer Complaint

3/11/2020

Predatory Lending and an absolutely horrendous company to deal with. "Senior Loan Officer" Chris misled us with bait and switch tactics to get us to refinance with them; he was given all our information for taxes and insurance and quoted us a payment based on the actual numbers. A few months into our refinance, our Escrow was over drafted. When we inquired about it they claimed its because our taxes and insurance changed which they did not; this led to them increasing our monthly payment by over $800. It took an act of God to get it straightened out and multiple managers not to mention countless hours of my time on hold waiting to talk to someone who was competent. The best part is, this was only the first of 4 times they've done this to us in the 4 years since we refinanced. Multiple follow up messages to Chris were either ignored, or he passed the buck to the servicing company to which the loan was sold. Resolution Sought Their company claims a "Rate Protection Guarantee No Cost Refinance" "When your loan funds with Prime Choice Funding Incorporated, You will automatically be enrolled into our 10-Year Rate Protection Guarantee.* If your rate drops within the first 10 years, WE will issue a lender credit to pay for your underwriting, title and escrow fees, and provide a free appraisal on your refinance to obtain the lower rate." They are currently sending mailers advertising 2.75 interest rates.

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Company Response

3/12/2020

Thank you for bringing this matter to our attention as it is important to us. We would love to have you call in and speak with Chris's Manager so we can help you to understand and or find some resolve. In reviewing your claims above, there is some obvious confusion. Prime Choice Funding has nothing to do with the collection or payments on your mortgage and or the monthly escrows, only the serving lender. Escrows, at times, can be frustrating for homeowners and thats understandable. Please call us and we will be happy to guide you with any resolution. Also, please send us whatever information you have for the "10 year rate protection guarantee." I would love to see it and if its something that can be accommodated. Have a great day!

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Customer Rebuttal

3/26/2020

It appears the company responded to my complaint asking to call them for a resolution but did not provide a point of contact. I would like them to provide a direct point of contact and contact number to contact them, preferably from whoever responded to this complaint.

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Company Final Response

3/27/2020

Please contact Anthony Kyirtsis at 714-263-1612 or by email at AKyritsis@primechoicefunding.com

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1/5/2020

RESPONSE: Agreed to make an adjustment Amount in Dispute: $0.00 Amount Settled: $0.00

Customer Complaint

12/27/2019

I am receiving deceptive mail from this company. I have been in mortgage lending for over 25 years and they are sending out misleading and inaccurate information. I know they are lying and misleading, but the average person will not know. They need to be stopped so I am forwarding their mail to the CFPB as they are lying through their teeth and aren't even quoting rates properly. REMOVE me from your mailing list immediately. And stop lying to consumers. There is no need to lie to someone to earn their business and you definitely won't earn their trust. Resolution Sought Remove me immediately from their mailing list. Stop lying in advertising mailers, learn what is required of you by the CFPB and stop being deceptive. Trying to pass off a conventional loan when you are clearly showing an FHA loan. Lies, deception, you should be ashamed of yourselves.

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Company Response

12/30/2019

You have been effectively removed from our marketing lists and will no longer continue to receive mail from our company. In response to your allegations of our deceptive advertising, we can assure you that we are not lying and all rates and programs are legitimately available to qualifying consumers at the time that the advertisement is produced. There is nothing deceptive or false about them.

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Customer Rebuttal

1/2/2020

thank you for removing me. I do however still believe that you are providing unavailable rates/terms/etc. hopefully any consumer who works with you will double check and get everything in writing and will understand the difference between FHA and Conventional financing and Mortgage Insurance.

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