Complaints

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:08/24/2022

  Type:Order Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I had been approved by James A***** with Temple View Capital for lending on a home in Lexington, NC (the loan agreements began in April 2022). The home was under contract for over three months with several failed attempts by the lender to get an accurate appraisal. The lender, (Temple View) was responsible for hiring the appraisers and getting the reports in time for closing, but the first appraiser just failed to submit the report. We then extended the contract and the second appraiser also failed to submit the report in a timely manner. After the second report was filed, I learned it did not include accurate information about the home (number of bathrooms, etc.). Temple View explained that it was all completely out of their control even though they were the business responsible for hiring them and the only ones that could communicate with them. I could have contested the appraisal, but because the report was filed past the deadline I did not have time to do anything about it. James told me that he could still make the deal work, so I, and the sellers awaited the new terms to only find out that the terms of the new loan were very different from what James had told me I could get. This happened over and over again. James should not sell loans because he doesn’t understand or have the knowledge of what the underwriters are going to need or the company as a whole is very deceitful. I should have suspected the company had some systemic issues right from the beginning because I had to repeatedly resubmit documents and I was continuously misled. I have reached out to an attorney and hope that I might be able to take legal action and get at least part, if not all, of my money back. This was a terrible situation for not only myself, but it also greatly impacted the sellers and the real estate agents. Hopefully, you will also be able to further investigate their legitimacy and end any deceitful activities. I have uploaded emails and formal complaint against the appraiser.

  Business Response

  Date: 09/13/2022

  Temple View Capital has a 14+ year history of exemplary customer service and satisfaction in the commercial lending arena.   We pride ourselves on supporting our clients in growing their business through innovative commercial lending solutions.  With those guiding principles in mind, TVC also adheres to prudent underwriting standards that are industry standard.  After the financial crisis of 2008 put a harsh spotlight on industry wide appraisal practices, the federal government laid out strict guidelines for the independence from undue influence from lenders or borrowers on valuation methods,  TVC follows these best practices in all cases by relying on nationally recognized, independent 3rd party appraisal firms in support of our business.  In addition, we find ourselves in a period of massive market rate volatility influenced by the unprecedented actions of the Federal Reserve in raising rates and attempting to curb inflation.  It is unfortunate that *** **** experienced delays in her project.  But as a seasoned investor, she understands the risks and rewards of flipping houses.  With the exception of our standard $199 application fee, TVC was not the recipient of any 3rd party fees incurred in the processing of this transaction.  Any delays are an unfortunate reality of the business and outside our direct control.  I welcome to discuss the relevant facts of this transaction at any time.     
  
  Best
  Michael N********
  President, Temple View Capital
  **********@mcmcap.com

  Customer Answer

  Date: 09/15/2022

  [To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Answered]
  
   Complaint: ********
  
  I am rejecting this response because: As an experienced real estate investor, I know and understand fully the risks involved with real estate investing and the challenges the ******************* Act brought to the lending institutions. However, the financial loss that I experienced from Temple View Capital's poor oversight had very little to do with strict lending guidelines and was, in fact, because of their inability to manage the third party appraisers they hired. When I say they did not manage the appraiser, I am not suggesting they have control over the reports they file or their findings, but they should be able to get them to submit the reports on schedule as well as making sure they are accurate. Temple View Capital is the firm that is hiring the appraisers and is the only entity that has permission to communicate with them during the entire process. If this principle continues, many investors stand to lose a great deal of money. 

  I was continuously, misguided by the lending agent who reassure me that all of the paperwork was being handled, processed, etc.and that advice allowed the timeline of the contract to expire and as a result, I lost all of the cost associated with getting the property under contract.

  Many of the consumer reviews for Temple View Capital contradicts the president's statement of exemplary performance. I only wish I had read them in advance. I was referred to them by a trusted friend and colleague so I didn't do any research on them... this is where I assume responsibility for this project failing.  

  I am not the only one to have a terrible experience and here is a link from a whistle blower that I found after my terrible experience with them. ********************************************************************************************

  Regards,
  
  ****** ****