Complaints

This profile includes complaints for Pinnacle Mortgage Corporation's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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Pinnacle Mortgage Corporation has 4 locations, listed below.

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  Pinnacle Mortgage Corporation

  835 Hanover St STE 301 Manchester, NH 03104-5401

  
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  Pinnacle Mortgage Corporation

  400 Amherst St STE 101 Nashua, NH 03063-4222

  
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  Pinnacle Mortgage Corporation

  1 Merrill Industrial Dr Hampton, NH 03842-1981

  
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  Pinnacle Mortgage Corporation

  203 Turnpike St STE 301 North Andover, MA 01845-5042

  

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:09/25/2024

  Type:Service or Repair 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.

  *** purchased 6 homes over my lifetime. My experience with Pinnacle Mortgage was a nightmare that nearly resulted in us losing a $50,000 deposit on our dream home. Some of the things that went wrong were:Loan officer failing to note our closing date had moved up by two days, from 9/13 to 9/11, despite being notified via email from our attorney Chain reaction from this failure was, we were not notified until Tuesday afternoon that we would not be closing on Wednesday morning. We had movers lined up for Wednesday and a construction crew coming in on Thursday. But because of Pinnacles failures, we had to scramble to put a use and occupancy permit in place.Permit required our closing occur no later than Friday 9/13 at 4:00 for deed recordation. If we did not close by 4:00, Sellers reserved the right to retain our $50,000 deposit.Closing was rescheduled to Friday morning at 10:00 to ensure plenty of time to go on record at **********. Thursday night at 5:00 **** from Pinnacle calls to say we have a problem with an underwriter, and we cannot close tomorrow morning. Turned out the problem was a fabricated issue with a code related to fire extinguishers. Neither **** nor the underwriter ever specified what Code they were referring to. It took Pinnacle mortgage until 2:45 pm on Friday to give us the clear to close message.We raced to the law firm, signed paperwork, and waited for Pinnacles wire to clear. It cleared 8 minutes before 4:00.Luckily the attorney had sent his paralegal to the court so she could wait for him to give her the go-ahead to record the documents. This whole experience was so stressful, and unnecessarily so. It was obvious that people at Pinnacle were not doing their jobs properly, waiting until the last minute, and jeopardizing a substantial sum of my money. We spoke with the President of the company a couple of days later and asked for a refund of the $3669.05 closing costs. He did not respond to this request.

  Business Response

  Date: 01/06/2025

  I am requesting an extension to respond to this complaint.  Because of the nature in which she attempted to extort us when I did speak to her and tried to answer her questions, I engaged our corporate counsel.  I would like to consult with counsel prior to responding. 

  Business Response

  Date: 01/13/2025

  Pinnacle Mortgage Response to Complaint:

  ****-***** ****** made a loan application with Pinnacle Mortgage Corp on 7/29/24.  Pinnacle Mortgage Corp was able to secure a "contigent" loan approval on 8/5/24.  One of the loan approval contigencies was a full Condo Approval because the property the loan was requested for was a condominium.  In order to get full condo approval, Pinnacle Mortgage Corp is required to obtain a 3rd party appraisal following HVCC appraisal code, condo documents from the condo management company or home owners association, condo insurance policies and a "complete" condo questionairre.  Pinnacle Mortgage had a difficult time getting the condo documents, questionairre and insurance in a timely manner from the 3rd parties being the ***************** and/or the condo management company providing them.  Once the questionairre came in items were not complete or fully answered.  Once fully completed other questions arose based on the answers and additional items were needed to get the full condo approval.  The buyer did not at any time "ask Pinnacle Mortgage" if they could accommodate moving up the contract closing date.  They informed us that they were moving the closing date without Pinnacle Mortgage agreeing the loan would be ready to close sooner than the contract closed date provided on the purchase and sales agreement.  Mortgage lenders reserve the right to approve or deny mortgage loans.  They also have the right to request the documentation they feel they need to make a loan decision.  The items requested fall in line with ****** Fae and ******* Mac conventional loan guidelines.  Pinnacle Mortgage Corporation closed and funded Ms. ****** loan on the date provided on the purchase and sales contract provided at application.  Pinnacle Mortgage disagrees with Ms. ****** request to provide her any compensation.  I would also like to point out, when I spoke via telephone and explained all of this to Ms. ****** in response to the email she provided.  Her response was "I don't care, you are going to pay me" and then  continued "I am giving you until Friday to make me an offer".  At no time did Ms. ****** request an actual amount as stated in her BBB complaint.  I consulted with an attorney because I questioned if Ms. ****** behavior fell into the category of extortion based on her threatening to file negative review, complaints and comments with a list of entities if we did not provide financial compensation to her liking.  In addition, she informed me she was an attorney in another state.  

   

  At Pinnacle Mortgage, we strive to provide every applicant with a professional, efficient, and smooth loan application process.  In that process, with many other 3rd parties involved, we cannot always control the process as much as we would like.  I apologized to Ms. ****** on our call for how she explained she felt her experience was and tried to explain the steps that occurred during her loan application process.  Lenders are not required to approve loans.  It is their sole discretion.  Pinnacle Mortgage position is we do not feel Ms. ****** request for compensation is valid nor should we be obligated to provide any compensation giving the facts, circumstances and lending guidelines.