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Prime Source Mortgage Scam

DO NOT BELIEVE A WORD THESE PEOPLE TELL YOU - DO NOT DEAL WITH THEM- NEVER GIVE THEM MONEY NO MATTER WHAT LIES THEY TELL YOU. I was called by Randy Crutchfield about refinancing my mortgage. He told that I was APPROVED for a refinance of my mortgage based on financial information he had from a past loan he had brokered for me. I told him I had purchased a second home since getting the original loan but that it was free and clear and my daughter and son were paying all expenses such as taxes, hoa's, utilities (and I signed and faxed him a statement to that effect. He said it would not affect the approved loan. He then asked me to pay $445 for an appraisal, and when I balked at that, he assured me that if the appraisal came out OK, the loan was a done deal. I paid the fee and the appraisal came out fine. Then after continuing to ask me for more and more financial documents, he finally told me the loan was denied. Regardless of the reasons he gave me for denying the loan, that $445 fee was paid to him based on his promise (lie) that everything was approved and the ONLY other thing required was to pay that $445. I don't care why they finally denied the loan, the only issue is that I was told by him that the $445 and appraisal were all that were needed from me, and that the $445 would be returned to me. I filed a complaint with the BBB and Prime Source responded with more lies and incorrect statements and accusing me of asking them to commit fraud by not reporting that I owned a second home that I have a mortgage on (I have no mortgage on that second home and I obviously reported it to them with a signed document). Thank you.
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6 comments
#1485477

Randy is very shady, dishonest, manipulative, a very bad person. He did this in St. Louis, until he burned all his bridges.

#557058

That *** randy pulled some of the same *** with us. It is a scam he is a liar and a ***!

#520645

The BBB is a scam..they make their money from businesses paying to be accredited. Its extremely hard to get a bad mark since the customer with stop paying and cancel their membership upon bad review.

If you dont want to get scammed it is your duty to research products and be a educated consumer. Its your money and responsibility to be diligent to not be a "MARK".

#520642

Wow, I guess youre to *** to realize you paid a 3rd party appraiser to appraise your property. In fact, this guy never received any commission.

If you told him your credit and ITD ratio was great, he probably told you it wouldnt be a problem to close. Btw, Im not even in the mortage industry, Im a pilot.

#436967

Never heard from Prime Source Mortgage again, nor from the better business bureau about my complaint (they are useless). Obviously these scam artists at Prime Source take a cut of every appraisal fee they collect so thats why they lie that a loan is approved except for the appraisal fee, then take the fee and disapprove the loan.

The $445 they stole from me would have paid for my needed groceries for a month. I sure hope what goes around comes around for these ***

#634687
@Bpjoer

If you know anything about mortgages, you should know that a home loan is never approved and final until an underwriter provides a final approval. Everything else is a pre-approval.

Doesn't sound like a scam to me. Mortgage companies don't make a penny off of appraisals. They WANTED your loan to close. Otherwise they spent a Monty's worth of work for you and didn't make a cent.

It is in their interest to close your loan.

Look at your credit card statement and see who charged you for your appraisal. It wasn't your mortgage company.

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ID
#291978 Review #291978 is a subjective opinion of poster.
Location
Stuart, Florida