ComplaintsforTop Flite Financial

• Initial Complaint

  02/03/2024

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  I keep getting calls and texts from business and I didn't sign up for service. Someone either typed number in wrong or intentionally used my number.

  

  Business response

  02/05/2024

  A LendingTree mortgage application was submitted with the phone number that was called and texted. We have removed that phone number from our database, there will be no more contact from **. 

• Initial Complaint

  04/24/2023

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I reached out to secure a HELOC with TFF. They would send emails every day to make sure that I had submitted all the necessary documents. Once I submitted everything, I haven't heard from them. I've reached out twice but no response. I'm afraid that I've been defrauded and they're going to somehow take my home away.

  

  Business response

  05/01/2023

  Hello, I apologize for the delay. I am so sorry to hear this.  I am reaching out to the Loan officer and his manager to find out what happened and why there was no further communication. I will let you know as soon as I get more information. Thank you, and again, my apologies. 

• Initial Complaint

  10/28/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  We applied for a cash-put refinance with Top-Flite. They harassed ** for 123 days. Right before closing, they charged us ****** to close on the loan. The day before closing we were locked In at a rate **** percent. They then told us that the rate went up to 4 percent. It ended up being **** percent. ************ forced us to accept this ridiculous amount to close. Even though we were locked in they tried to force us to close at 4 percent and to accept the ****** closing costs. After 123 days we had no choice.

  

  Business response

  01/20/2023

  Hello ****************, and thank you for the opportunity to provide a response.

  First, on the matter of the time it took to underwrite and close Mr. ******* loan, the primary cause of the delay was properly documenting Mr. ******* income in order to soundly underwrite his new mortgage.
  Specifically, one of the 3 sources of income for **************** was his workers comp income. By way of background, Mr. ******* workers comp income was provided to him in the form of a physical check that was mailed to him rather than direct deposited into his bank account. As a result, the ******* indicated to us in the middle of the process he would sometimes cash the check and sometimes he would deposit it directly in his account and his bank statements reflected that. This is an understandable action based on an individuals unique cash flow needs.
  However, underwriting guidelines requires the lender to have two months of bank statements showing the workers comp directly deposited into his bank account. We informed **************** of this and he made the necessary change, but that necessitated waiting two full monthly cycles until his bank statements were available for the Underwriter to review and approve.

  Second, regarding the closing costs and interest rate, Top Flite Financial disclosed to **************** the Initial Loan Estimate on Oct 19, 2021 on his 30 year FHA ****% Fixed Rate with 2% origination points. Its important to note the interest rate was not locked as indicated on the Loan Estimate which he electronically consented receipt of and provided his Intent to Proceed.

  On Oct 28, 2021, the loan amount was requested to be raised, and he was provided an updated Loan Estimate for his 30 year Fixed Rate at 3.625%.

  On Nov 2, 2021, he requested a shorter term and a Loan Estimate was provided to him on a new FHA 20 year Fixed Rate at *****% .

  In early 2022, the request was made to go back to a 30 year Fixed Rate. When the income was finally properly documented for Underwriting, the loan was locked with a final interest rate of *****% with 2 discount points as reflected on the Final Closing Disclosure dated 2.18.22. The interest rate and discount points were higher as interest rates had begun their rapid rise that would continue throughout 2022.

  A key increase in closing costs was Mr. ******* HOI and real estate taxes for his prepaids and escrow account which increased from $2577 on the Initial LE to $6350 on the Final CD when Top Flite had received all the documentation on his HOI Policy and *********** Taxes.

  In preparing our response to you it does appear the origination fee on the final CD was incorrectly overcharged so **************** is due a refund for that difference.

  We have sent the check **************** with interest through the end of this month.

  Thank you again for the opportunity to address your questions and concerns. We hope that we have remedied the situation and we do apologize for the inconvenience this has caused. Thank you for the opportunity to serve you. 

• Initial Complaint

  05/23/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  On February 2, 2022, we started the process to refinance our mortgage with ********* Financial. Over the past 4 months we have had to pay for an appraisal, make repairs to our home based on this appraisal, pay down credit cards, all with the assurance that if we did this, our refinance would close in 2 weeks. That was 4 months ago. We have spent a great deal of money because we were led to believe that if we did so, the refinance would be approved.For example, we were told to pay down a credit card with an account number that we do not have. We were told to just pay the credit card with the balance topflite provided, which we did, providing statements and letters to reflect this payment. Topflite informed us that it was rejected because we didn't pay the correct account. First, we do not have an account with the account number ************************* provided us with and second, we were told to use the balance they provided. We had a card with the same balance. Before paying, we made sure that it was the correct account. We were told it was, making the payment they requested that day, only rejected by Topflite 4 days later for not paying the correct account.Every week it's a different excuse and reason for delay. We have been given the runaround weekly, with different excuses.When it comes to the appraisal, we had to pay $650. Our home was appraised and a list of 8 repairs had to be made, all put 1 were cosmetic. We made the costly, out of pocket repairs, with the assurance that if we do, we can go forward, lock the loan and then, close. This was not the case.On Friday, May 20th, we were told that we would have to pay on 2 credit cards, 1 of which again has the account number we do not have.Weekly we have been given odds that we will close. It has ranged from 99% and last Friday, 91%.We have stopped the process via email to our loan officer, with copies to the CEO.We want the cost of the appraisal refunded.

  

  Business response

  06/06/2022

  Hello, Mr. and *************************, 

  
  Thank you for taking the time to leave us a review. I discussed your loan with the sales team and the sales managers that were involved in your loan. The team did explain that they tried everything they could to make this loan happen for you, as they do for every one of their borrowers. The sales team attempted a rescore to raise your credit score enough to get your loan approved. However, the attempt was unsuccessful due to accounts falling into collections. The Loan Officer did emphasize the importance and necessity of making timely payments on all accounts. In your case, every point and derogatory **** counted. 

  With that said, we cannot refund you for the appraisal. 

  I am sorry we were not able to help you. Top Flite is here when you are ready to refinance your loan. 
  
  Thank you again for your time. We wish you both well. 

  Customer response

  06/16/2022

  [A default letter is provided here which indicates your rejection of the business's response. 
  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this proposed action would not resolve my complaint.  For your reference, details of why I am rejecting this response appear below:
  
  Top Flight Financial's way of doing business is very deceptive.  We were lied to for months.  Because of their dishonesty, we paid a great deal of money for an appraisal as well as cosmetic repairs, only to be told that if we do that, our loan will close.  If Top Flite would have been honest about our chances of closing the loan, we would have not proceeded with the appraisal and further, the repairs. We were strung along every week or so, with a false narrative, giving us false hope.  Dealing with this company was, in a nutshell, a nightmare.  Every week there were new challenges and delays, with new excuses and promises.  

  The right thing to do, is to refund the appraisal costs.  The deception and lies we were given, warrants this request. 

  Regards,
  
  *********************************

*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. ↩