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Business Profile

Mortgage Broker

Amcap Mortgage, LTD.

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Mortgage Broker.

Complaints

This profile includes complaints for Amcap Mortgage, LTD.'s headquarters and its corporate-owned locations. To view all corporate locations, see

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Amcap Mortgage, LTD. has 5 locations, listed below.

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    Customer Complaints Summary

    • 2 total complaints in the last 3 years.
    • 0 complaints closed in the last 12 months.

    If you've experienced an issue

    Submit a Complaint

    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.

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    Complaint type

    • Initial Complaint

      Date:01/30/2023

      Type:Product Issues
      Status:
      Answered
      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.
      For my home loan Amcap misrepresented the facts, deliberately delayed response to surreptitiously overcharged the loan origination fee, and thereby shortchanged me for $11445.00

      Amount of home loan $436000 - date of closing 12/05/2022.
      Loan Origination Fee $2.625% - it should be at 1% max. Excess amount charged is $7085.

      The employee of AMCAP who represented the company vanished in days after this, and she or no one else has responded to me for my complaint to Amcap.

      Business Response

      Date: 07/12/2023

      Good afternoon,

      AmCap Mortgage, Ltd. (AmCap) has received your complaint and thanks you for the opportunity to respond.

      AmCap is sorry to hear that you were not satisfied with your experience; we strive to always provide the best possible service at all times. The complaint information provided appears to be based upon the loan origination fee charged at consummation. AmCap has conducted a review of your loan file. We hope the explanation below will help you better understand this transaction and possible resolution.

      AmCap would first like to note that Mortgage Loan Originator (MLO) Elizabeth ********* has since been terminated. Our records indicate that AmCap received your initial loan inquiry, and the mortgage loan was brokered to an outside creditor, ******* ******* Corp. Ms. ********* conducted your mortgage application, and your loan file was processed, underwritten, closed, and funded with an outside creditor, ******* ******* Corp. All mortgage application and closing disclosures were similarly issued by ******* ******* Corp. Presumably, all loan fees and third-party fees would have been initially disclosed to you in your Initial Loan Estimate, Initial Closing Disclosure and Final Closing Disclosure. 

      AmCap would encourage you to review these documents and provide any documentation which does not appear to have correctly disclosed these charges. Furthermore, AmCap has attempted to request all ******* ******* Corp. loan file documentation including disclosures with no response.

       

      Additionally, if you have any further questions, you may also contact your creditor, ******* ******* Corp. at 1298 West 7th Street, Upland, CA 91786.

       

      It is our sincere hope this explanation has resolved your concerns. 

       

      Please feel free to contact us at [email protected] with any further questions you may have for AmCap.

    Amcap Mortgage, LTD. is NOT a BBB Accredited Business.

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