Business Profile

Mortgage Broker

Flat Branch Mortgage Inc.

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Complaints

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

Customer Complaints Summary

8 total complaints in the last 3 years.
1 complaint closed in the last 12 months.

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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:06/03/2024
Type:Billing 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.
Flat Branch # ********** We sold the house 04/17/24 . We were in the closing process from March til closing date . We paid them March payment around ****** that's with pay off . They recieved on 04/17/24 . So we should had escrow money refunded . But no we got a letter from flat branch today showing its paid off but showing 126, ****** how can that be ? I even called flatbranch they Gave me a run around . Saying we don't have any escrow money and she said everything was right . Plus they suspose to have money from ************************** of ******* of 1675 .00 that is owed to me . They say they don't have it . It was sent 05/15/24 . Please help if you want documents let us know . I have them. Thanks
Business Response
Date: 06/07/2024
On April 2nd we received and applied the March payment, and on April 12th we provided the attached quote with a breakdown of the total payoff amount. On a mortgage loan, interest accrues in arrears. This means the interest portion of the March payment covered the interest due from the month of February. Since the April payment was still due at the time of payoff, the scheduled interest due for March plus the per diem interest from April 1st through April 23rd was owed in the amount of $884.36.

The attached quote shows that the payoff amount as of April 23rd is $124,219.93. The quote also informs that if the April payment is not paid prior to the end of the grace ******* a late fee of $27.20 should be added. This made your total payoff $124,247.13. On April 23rd we received a payoff of $124,219.93. As a courtesy we waived your April late fee to ensure your payoff funds were applied promptly.
Furthermore, Flat Branch contacted the homeowner's insurance company, American Bankers. The insurance company informed us that they mailed check ********** for $1,499.13 to Flat Branch on 5/16/24. As of today, we still have not received the check. American Bankers confirmed that the check was not cashed and is still outstanding. We requested American Bankers to place a stop payment on the check and to have it be refunded directly to the homeowner, but American Bankers informed us that they cannot initiate a stop and reissue until 6/15/24, and it can only be reissued in the name of Flat Branch.
We confirmed that the refund check was mailed to our PO Box. We will continue to monitor the issue. Once the check has been received or reissued, we will issue the full refund to the homeowner.

Customer Answer
Date: 06/10/2024
Complaint: 21787098

I am rejecting this response because:
There wrong !!! They gave the title company the pay off * Which February was paid alittle late * But Feb and March was paid ***** wasn't paid cause we were closing in ****** We had til 15th * We closed on 17th the title company overnighted the payment * Why they saying 23rd* I have no clue* But there just trying to add more money to rip us off* This not right * ****** said he thinks he may have paid for ***** * He will Check his bank * This Company keeps giving us run around * They owe us back money cause the pay off was the amount owed before we made more payments * There wanting to say owed them more * That's not right *

Sincerely,

****** / *********************
Business Response
Date: 06/12/2024
Please see the attached payment history itemizing how funds were applied as the payoff of your loan. On April 23rd we received the attached check in the amount of $124,219.93 and the funds were applied as indicated below.

$123,164.27 Principal balance
$884.36 Interest through 4/23
$27.20 March late fee
$144.10 Escrow ($57.84 escrow advance +$86.26 final MIP payment)
$124,219.93 Total
This matches the payoff quote generated on 4/12/23 showing the loan is due for the April 1st installment at the time of payoff.
On the attached payment history, you will see an assumption fee, however this was a data entry error that was made when the specialist attempted to waive the April late fee. You were not charged this fee and no funds were applied to it. The Additional Interest Pool Payoff is interest that Flat Branch paid to the investor of your loan as part of the payoff process. You were not charged this interest, and none of the funds you remitted were applied to it.
You stated that another payment may have been sent. Please provide documentation from your bank showing the payment cleared so we can research further.
We hope that this additional information will serve to clear up any further misunderstanding.
Customer Answer
Date: 06/13/2024
Complaint: 21787098

I am rejecting this response because:
So Flat Branch says the total was the amount of the pay off . But There was payments made ****** paid late fee when he paid . So the pay off was set . Then we paid payments So they just get paid extra . We paid every month . It may have been late but ****** paid the fees . We know we paid ***** and ****** believes he paid April . I will have him check the bank . But even though they owe us . For I know atleast one month plus ****** because ****** told them not to pay the insurance . We were closing on the house . So we lost ****** because we cancel the insurance . They can add fees extra but when there a pay off and we still making a payment you owe us back when it's paid.

Sincerely,

****** / *********************
Initial Complaint
Date:06/01/2024
Type:Product 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 applied for a home loan- i spoke with *********************. He said i would have my pre approval letter. I have never heard from him again I have sent email text phone calls! this is a very shady thing to do
Business Response
Date: 06/03/2024
Good afternoon, I wanted to confirm receipt of the complaint. **************** is on vacation this week. Upon his return next week, I will complete the investigation into this matter and respond accordingly. Thank you,
Business Response
Date: 06/06/2024
The ** states he had made a few attempts without a response. At the time, he assumed ************** had chosen another option. However, he did attempt contact again, she stated she didn't see his missed calls but wants to move forward with the approval. She will have all the outstanding documents to ** this week.
Initial Complaint
Date:05/10/2024
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 entered into a pending loan agreement with this loan company. The lending company backed out of our agreement not because of my credit worthiness, not because of the property value, but because of a zoning issue they were aware of from the beginning of the process. If they had a policy to not lend on properties zoned in this manner they should not have ordered an appraisal at my expense knowing they would not fulfill their part of the agreement. I would like the cost of the appraisal refunded in full
Business Response
Date: 05/12/2024
I wanted to confirm receipt of the attached complaint. However, can you provide further information that will assist with identifying this specific transaction? For example, was there a specific property for which ************ applied to obtain a loan on? Other details that my assist with identifying the transaction within our system is *************** DOB or last four digits of his SS #.
Thank you,
Customer Answer
Date: 05/14/2024
Property Address205 *****************************
DOB 01 MAY 2002
Business Response
Date: 05/14/2024
I sent the below response Sunday May 12th but have not heard back.
I wanted to confirm receipt of the attached complaint. However, can you provide further information that will assist with identifying this specific transaction? For example, was there a specific property for which ************ applied to obtain a loan on? Other details that my assist with identifying the transaction within our system is *************** DOB or last four digits of his SS #.

Thank you,
Customer Answer
Date: 05/17/2024
property address needed to continue process
*********************************
Customer Answer
Date: 05/17/2024
property addess to continue complaint
*********************************
Business Response
Date: 05/21/2024
Dear ************,
We thank you for the opportunity to look into this matter. While it appears that Flat Branch attempted to assist you with a residential property loan for a property that was zoned commercial, the appraisal revealed a condition that made the loan ineligible for approval. I am happy to discuss the details with you and you are welcome to contact me at **************.
Most kindly,
***************************
Initial Complaint
Date:05/02/2023
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.
I am filing a complaint on Flat Branch Home Loans of **** *** ****** ****** ***** ** **********, due to negligence of releasing a non-monitored insurance claim check. We were suppose to receive this check on April 31, 2023 and have not. After several phone calls to find out if a woman named ***** has mailed this check to us, I am told that she is out of town. My insurance adjuster has done what he can do. If I have to file a lawsuit for negligence, I will!!!..We have our home listed on the market to be sold and we need out insurance check for peril repairs due to storms. Maybe this lady went on vacation with our check or she is just ignoring us for some reason. We are checking into switching mortgage companies bc of how we are treated by this company.
Business Response
Date: 05/05/2023
Due to an employee being out of the office and staffing changes that had recently occurred, there was a delay in sending the endorsed insurance claim check back to Ms. *******. We were contacted on Tuesday, May 2nd by Ms. *******, and she advised that she had not yet received her claim check. Our insurance team promptly responded by shipping the check out that day via UPS tracking number 1Z5A283V0398122006. We confirmed that UPS delivered the package on Thursday, May 4th. The insurance team is attempting to contact Ms. ******* by phone to confirm that she has received the check. Management is working to address the staffing issues and ensure that cross-training is taking place in order to prevent future delays in this process. We sincerely apologize for any inconvenience.
Initial Complaint
Date:11/21/2022
Type:Customer Service 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 HAVE ASKED THIS COMPANY NUMEROUS TIMES, COUNTLESS TIMES, OVER AND OVER AGAIN, NOT TO CALL OR TEXT ME, TO PLEASE CONTACT ME VIA EMAIL. HAVING TO HAVE THEM CALL ME NUMEROUS TIMES, TEXTING, ADDING TO MY EXISTING CALLS, TEXTS, WORK CALLS, WORK TEXTS WORK EMAILS, WORK MATTERS IS TOO MUCH. IT WORKS BEST FOR ME TO CONTACT ME VIA EMAIL AND COMMUNICATE VIA EAMIL. THIS COMPANY IS DISRUPTING MY PROFESSIONAL AND PERSONAL LIFE. I HAVE RECEIEVED NO CO-OPERATION FROM FLAT BRANCH TO UTILIZE EAMIL. CONTACT ME BY EMAIL AND ONLY BY EMAIL, OTHERWISE, I WILL MOVE FORWARD WITH COMPETITOR'S WHO ARE IN COMPLIANCE WITH MY REQUEST.
Business Response
Date: 11/21/2022
The LO (Loan Officer) received the referral via a text stream including the RE agent and Mr. **** Saturday November 19th. The LO indeed spoke to Mr. **** over the phone following the text to discuss the loan process. Since that time, the LO has followed up via text and phone per normal protocol. With that said, the LO is now aware of Mr. ****'s desire to only communicate via email and will honor the request.
Initial Complaint
Date:09/27/2022
Type:Billing Issues
Status:
ResolvedMore 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 a home built by Executive Homes in *****, ********. We were directed to *********************** at Flat Branch Home Loans in *****, ********. He was suggested by them and we were told we will receive a $2500 credit for using Flat Branch. After setting things up with ***** in January, we eventually closed the loan in September 2022. I have a multitude of concerns about *****. Primarily, he is extremely unavailable and did not follow up when expected. However, the primary concern for this complaint involves the $2500 credit we were told we would receive utilizing *********************** for our home loan needs. I spoke to him numerous times up front about the $2500 credit and was assured I would receive this credit at closing. We knew we were bringing over $130,000 to closing and wanted to keep that as low as possible. However, once we were finalizing deals etc. The $2500 credit we were assured we would get by ***** magically disappeared. We were told that money was used for pricing to get a certain interest rate. ***** never discussed this with me prior to utilizing the credit for pricing. I feel the $2500 credit was used as a ruse to get our business and the credit was a phantom never intended to be actually given to us. I never authorized ***** to use the $2500 credit for these purposes and feel the $2500 is still owed to use in the end. I let it be known to ***** directly he never discussed that with me to lock my rate in. I paid $2981.81 to lock in my rate during the process and that was more than enough to do so. The $2500 was never memorialized in any paperwork when used, only in discussions that we would get it. I feel we are owed the $2500 and am requesting a refund from Flat Branch for that amount. I did not want to hold up closing so did not raise a huge concern about it at the time, but it was discussed about my displeasure of using this credit for purposes that were not authorized by myself.
Business Response
Date: 10/03/2022
Flat Branch Mortgage, **** DBA Flat Branch Home Loans would like to confirm receipt of the formal complaint. Since receiving the notification, the Area Sales Manager has been in contact with ****************** and a resolution has been agreed upon. Please let me know if you need anything further.
Thank you,
****************, Compliance Officer
Customer Answer
Date: 10/04/2022
Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.

Sincerely,

*****************************
Initial Complaint
Date:08/09/2022
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 worked with ******* ******** at the ********, Missouri location. He caused me to lose my $5,000 earnest money by not telling me or either agents that he could not get my transcripts from the *** in time to close. If he had notified me before the deadline I could have withdrawn my offer & requested a release of my earnest money.
Business Response
Date: 08/19/2022
To whom it may concern,
Please accept this letter as our formal response to the complaint received 8/9/22 which has been assigned ID # ********. The following are details related to the transaction:
•Date of Application: 6/8/22
•Estimated Closing Date: 6/27/22
•Date application formally withdrawn: 6/20/22
First and foremost, we are disappointed this was not a pleasant experience for the consumer. Flat Branch Mortgage, Inc. DBA Flat Branch Home Loans is dedicated to providing quality services throughout all areas covered under the Flat Branch umbrella.After further investigation with the Loan Officer and Area Sales Manager, a timeline of events has been provided below. -Received a text message from borrower as a referral from a local RE agent. Answered general questions about bankruptcy seasoning and provided information. -Took initial information and prequalified on April 5th -Borrower provided verbally the net income from 2020 and 2021 IRS Taxes when requested -Borrower did not mention the taxes had not been filed in our discussion-Borrower was waiting out a 2yr seasoning date for *** ** so we had to wait for her to make offers based on a possible closing date. -Over the next few weeks, I provided payment estimates for a couple different properties and reached out to check in.-4/6 Emailed updating payment estimates for a property. -5/6 With a general check in on the client, they indicated they made an offer but didn’t need anything from me at that time. (Text msg snip attached to email)-5/9 I provided a payment estimate for a property located at *** ***** ***** **. I was not made aware a contract was being signed for purchase. -6/7 Received a text from Borrower she had a few questions. We discussed the **** ** ******* and how they wanted 20% down to make their purchase approval for **** ***** **. property. She asked if we could get the loan done for less down payment. I believed it was possible based on the information previously provided so they were going to move the loan to my service here at Flat Branch.-6/8 Received a contract from **** ****** – asst. to real estate agent ********* ******* -Locked the loan, disclosed, and started the loan processing. -Both agents were notified a 6/20 closing date would be incredibly difficult unless borrower provided all information for approval Appraisal was fast and clean, and title was acquired. Talked to both agents on the phone directly. ********* ******* ******** Real Estate (buyer) and ****** ****** ***** ** ******* (seller). -6/14 Loan was suspended by ** based on lack of support for self-employed income. - Learned at this point Borrowers had just registered their businesses with the State of MO in 2022 - Additionally, borrowers had just filed their 2019, 2020, and 2021 *** Taxes. Their original filings were submitted with taxes owed to be paid. Then amended returns were filed adding ***** ******* to reduce amount owed.-6/14 Let the agents and title know there was more work to be done and we were still working to validate the borrowers’ businesses for underwriting. We needed more time.-6/15 Communicated with borrower regarding items requested by underwriter to verify businesses.Discussed everything on phone with borrower.-********** ***** could not provide receipts, invoices, or a general paper trail for his Printing business activity, ********.-Borrower ******** had minimal evidence of her business transactions or affiliation with other companies of which her service is provided.-6/15 Notified the Buyer’s agent ********* ******* regarding my concerns about the file earning approval.-6/15-6/17 Worked to find solutions to keep the process moving forward with Borrower.-6/17 Notified the Buyer’s agent ********* ******* “we were at a standstill to get anything else to support their file for underwriting.” I informed ******** via the telephone that the process could not move forward until the self-employment for both she and ***** could be sufficiently verified. -6/19 Sent notice to withdraw the file for lack of paperwork to validate/verify the buyer’s businesses.-6/20 Processor ***** ****** withdrew the file.While I understand the frustration with the lending process, please know that these procedures are in place to protect all parties involved. The transaction was processed timely and attempts were made to overcome the obstacles encountered with the self-employment. Unfortunately, based on the agency guidelines, the limitations with the consumer’s ability to obtain the required documents resulted in theconsumer’s withdrawal of the transaction. The consumer is requesting a refund of the $5000 earnest money retained by the seller. As a lender, Flat Branch Mortgage, Inc. DBA Flat Branch Home Loans is not a party to the real estate contract. In addition, the funds are not maintained by Flat Branch Home Loans during the processing of the loan. For this reason, it is not felt the requested refund is warranted.
Sincerely,
*** *********
Customer Answer
Date: 08/19/2022
Complaint: ********

I am rejecting this response because:
******* at Flatbranch should have notified me that he was not able to get the loan approved before my timeline was up to receive my earnest money back. ******* stated when I went over to Flatbranch that he could do a in house loan where tax return transcripts would not be required.

Sincerely,

******** *****
Business Response
Date: 08/23/2022
As stated in the previous timeline, the LO was not made aware the taxes had not been filed. I've included this portion of the timeline below as a reminder.

-6/14 Loan was suspended by ** based on lack of support for self-employed income.
- Learned at this point Borrowers had just registered their businesses with the State of MO in     2022
               - Additionally, borrowers had just filed their 2019, 2020, and 2021 *** Taxes. Their original
                filings were submitted with taxes owed to be paid. Then amended returns were filed adding
                ***** ******* to reduce amount owed.
-6/14 Let the agents and title know there was more work to be done and we were still working to validate the borrowers’ businesses for underwriting. We needed more time.
-6/15 Communicated with borrower regarding items requested by underwriter to verify businesses. Discussed everything on phone with borrower.
               -CoBorrower ***** could not provide receipts, invoices, or a general paper trail for his Printing
                 business activity, ********.
               -Borrower ******** had minimal evidence of her business transactions or affiliation with other
                 companies of which her service is provided.
-6/15 Notified the Buyer’s agent ********* ******* regarding my concerns about the file earning approval.
-6/15-6/17 Worked to find solutions to keep the process moving forward with Borrower.
-6/17 Notified the Buyer’s agent ********* ******* “we were at a standstill to get anything else to support their file for underwriting.” I informed ******** via the telephone that the process could not move forward until the self-employment for both she and ***** could be sufficiently verified
In addition, a date was not present on the contract for a financing contingency, so it defaults to 25 days, 6/3 or 6/4 if you don’t count the day of Contract. Our involvement took place with the borrower via text on 6/7 which was already past the contingency date.

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Flat Branch Mortgage Inc. is NOT a BBB Accredited Business.