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Doing Business In Florida??: Be Aware!!

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Julio E. Sune Jr. (FL)

Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Florida
The following is the response I received from the State of Florida Department of Banking and Finance regarding a complaint filed against a FL mortgage company due to non-payment of an appraisal fee.

[“Thank you for bringing to our attention your concerns regarding zzz Mortgage Company of X, Florida.

The nature of your complaint is a civil matter over which this agency has no jurisdiction. You may wish to consult a private attorney to determine how best to proceed.

Again, thank you thank you for writing and I trust the problem can be resolved to your satisfaction”]

The case: Broker collected up front $4,000.00 origination fee from the borrower, $750.00 was the agreed appraisal fee. Loan did not close.

PLAN A: Despite numerous requests and strong letters—nothing. Filed complaint with the aforementioned negative results.

PLAN B in effect [Results will be posted in the future]

So, if you are doing business with a Florida Mortgage Broker, make sure you plan ahead for you will not get any help from the FL Dept. of Banking and Finance if and/or when the “chips are down”.

It is also worthy of mention that at the last FREAB (Florida Real Estate Appraisal Board) Meeting (8-6-02) there was an appraiser that got fined $3,000.00 for twice having taking an appraisal fee and NOT completing the assignment.



:evil: :evil: :evil:
 
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