ComplaintsforCollateral Management LLC
Need to file a complaint?
BBB is here to help. We'll guide you through the process.
Complaint Details
Note that complaint text that is displayed might not represent all complaints filed with BBB. See details.
Initial Complaint
08/04/2023
- Complaint Type:
- Sales and Advertising Issues
- Status:
- Answered
On May 30, 2023 we ordered and paid for a home appraisal with a rush order and due date of June 2. I paid $700 including the $250 rush fee. On the due date, June 2nd, they wrote requesting an additional $100 on top of the already agreed upon price. I called and spoke with a representative on the phone who told me they would not release the report without the additional $100. I shared with them that we had a contract for services for $700 which was already above market rate and that I would not be paying an additional $100. They told me that they had been unable to find an appraiser that would do it for the agreed upon price. I shared with them since I had already agreed to a price of $700 and was never approached about an additional $100 that our original contract stood. They stood by their policy that the appraisal would not be released without that additional payment. I informed them I would be exploring other options including disputing the charge. They did not release the report and insisted on the additional $100. Once I disputed the charges, they ended up releasing the appraisal report on June 29th, a full 4 weeks after our originally agreed upon due date and after we already closed on the house using a appraisal attained from another company. The appraisal report was not provided within a reasonable time frame given the original agreement and was useless as we had already closed on the house.Business response
08/04/2023
This business has been closed for over 18 months. The claimant is filing against the WRONG business.Business response
08/04/2023
The borrower filed a chargeback and was already refunded from the correct business.Initial Complaint
05/16/2022
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
This document only shows I paid $705 for an appraisal of my property. Collateral Management kept $205 of that, for their so called service to get the appraiser. I got an Apple phone in February and opened this document up to find that it then showed the breakdown.....$500 for the appraiser and $205 for Collateral Management. It now has been locked or embedded so that my Apple phone can not view it either! No closing took place. Nations Lending came up with excuses to not go forward with he loan process. This is covert business practices. I want my $205 refunded to me ASAP! Getting an appraiser is not worth the $205 they kept.Business response
06/08/2022
We are a third party service provider that is required in order to ensure compliance is met on the appraisal and service portion. The $205 is disclosed as we have full transparency. There is not secret fee. The appraiser is paid his fee and ours is disclosed. The fee is based on location and product. This is a published fee and doe snot fluctuate. We are not a non profit company. Our fees will also be disclosed to ensure customers understand a fee is involved in these services.Customer response
06/08/2022
Complaint: 17210179
I am rejecting this response because:
The proof I attached ONLY has the appraisal fee of $705. No where in this document does it break down the fee structure! ($500 for the appraiser and $205 for Collateral Management). They are lying to keep their so called good rating and never from the start were transparent. There are numerous complaints about Nations Lending and Collateral Management, for the very same thing.I want my $205 back ASAP! If this is not resolved I will be reporting to the Attorney General of **.
Sincerely,
*************************Business response
06/10/2022
The fee is due to us and we pay the appraiser. Again there is a fee associated with our services which is the difference. you paid the correct fee as disclosed by your leader.
*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. ↩
BBB Business Profiles may not be reproduced for sales or promotional purposes.
BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.
When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
BBB Business Profiles generally cover a three-year reporting period. BBB Business Profiles are subject to change at any time. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.
As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.
BBB Rating & Accreditation
This business is not BBB Accredited
Customer Reviews are not used in the calculation of BBB Rating
Contact Information
2400 E Commercial Blvd STE 1050
Fort Lauderdale, FL 33308-4036
Customer Complaints Summary
2 total complaints in the last 3 years.
0 complaints closed in the last 12 months.