Pleasant Valley Home Mortgage Joseph Fox

This company gave us a mortgage and we closed on June 21st. We sent them our first mortgage payment then were contacted a week later by the new owner of our mortgage. They told us that our first payment was late and that we needed to pay them immediately and contact Pleasant Valley for a refund.



Pleasant Valley cashed our check on July 25th. One full month after they went out of business. How is that possible?

I'm in the same boat as everybody else. This company's associates clearly have zero business ethics, and due to their lies and deceptions, they have cost me thousands of the next several years. I'm certainly not finished with them yet.



I've contacted several attorneys regarding this matter. All have said that I have a legitimate claim for suing and recouping damages (I'm sure everyone does); however, nobody will take the case based on contingency, and It doesn't seem prudent to invest even more money into this, due to the probability that the company may have filed for bankruptcy.



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My Story:



In early June, I contacted Pleasant Valley Mortgage. After discussing the rate of 3.875 with Loan Office Mr. Weindel, and receiving all the necessary documents to confirm the legitimacy of this quoted rate, I entered into a contract with Pleasant Valley Mortgage on the same day in order to lock this rate. I received confirmation via a good faith estimate, as well as written confirmation via email, that the rate had been locked for 55 days.



Upon providing Mr. Weindel with all of the requested documents necessary to send my application to underwriting, and after the appraisal was received from the appraiser on 6/19/2013, Mr. Weindel had everything needed to send my loan to his underwriters. Afterwards, Mr. Weindel became very difficult to contact.



Finally on Monday (late June), I received a phone call from Mr. Weindel, and he stated (paraphrasing);



"Due to the skyrocketing interest rates, the investors (purchasers of the assets), are no longer accepting the rates in which Pleasant Valley locked within the last several weeks. So, you have two options; we can lock you in at todays rate of 4.875%, or we cancel your loan application."



So I proceeded to ask Mr. Weindel for everything that he had just told me in writing. His response was; "you should be receiving a letter in the mail summarizing everything." He also mentioned; "I'm going to try to have the appraisal fee refunded to you; however, there is a decent amount of people on the list."



I received a call from a Jack Hoben (manager), who also proceeded to convey the exactly the same information that Mr. Weindel had conveyed prior. He agreed to refund my appraisal, as well as provide me with a written statement summarizing the conversation.



As of today, I have not received any written confirmation, nor the appraisal refund.



I later reached out to Joseph Fox COO (the biggest liar), and he had me sign an acknowledgement/waiver to obtain the appraisal refund. After receiving the form, he told me that my check would be mail via UPS within 48 hours (June 27). I still have not received anything in the mail, nor have i been able to contact Mr. Fox again.



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I will be more than happy to coordinate with any party to ensure that the lies and deceptions of Mr. Weindel, Mr. Fox, and Mr. Hoben, do not go unpunished, and most importantly, so that they can no longer influence anybody else into doing business with them in the future.





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@ Mark



Certainly hope so Mark. It takes special kind of scumbags to do what they did. They costs us thousands, and I certainly don't think that they should be able to hide behind closed doors from any repercussions for their misdoings. Joseph Fox, Jack Hoben, and Michael Weindel are crooked business men, and as you said, I hope they get theirs one day.



Please take a moment to report them individually to the NJ Department of Banking:



https://www16.state.nj.us/DOBI_UIC/servlet/Servlet.idxServlet?div=%27BNK%27

@PennyStock....our situations are suspiciously similar. Jack Hoban (??) e-mailed us and told said our loan processing had been terminated ONE DAY BEFORE WE WERE TO CLOSE. We had been dealing with a "Joseph Potts" and had gotten him every shred of documentation he asked for. As of this writing, it looks like their website has been wiped and their domain name relinquished back to the registrar. They'll get theirs...eventually.

If I can assist anyone needing a mortgage in New Jersey or Pennsylvania, I am a licensed mortgage banker since 1998. Neither myself, nor the company I work for are going anywhere with interest rates on the rise as mortgage bank I am with has had the Voorhees branch for 18 yrs.



We process, underwrite, and close from this office. I primarily deal with purchase transactions, but refinances are fine. We are a direct lender for Conventional, FHA, USDA, VA, Jumbo products, PHFA, and NJ State Bond Programs "Live Where You Work" & " First Time Homebuyer".







Gregory Ferris

NMLS#189104

Licensed Mortgage Loan Originator

gferris@alliedmg.com

Allied Mortgage Group

1000 Haddonfield Berlin Road

Suite 204

Voorhees, NJ 08043

Direct: 609-504-7010

Office: 856-782-2740 ext. 348

Fax: 856-581-8131

www.gregoryferris.alliedmg.com

Licensed Mortgage Banker, State of New Jersey and Pennsylvania

Equal Housing Lender



Smartphone Application

www.gregoryferris.alliedmg.com

The same exact thing happened to me. Appraisal paid for, and then poof, company goes out of business without warning or notice. They also snail mailed me a letter saying I requested a withdraw of my credit (I absolutely did not!). This sounds like mail fraud to me....any suggestions on how to proceed?

The very same thing happened to me. They took my money and ran. We were at the end for closing as well. Rates have gone up a full point since I locked in. That means an additional $13K+ added to my loan. I'll join your law suit.

Stay away!!! Same thing happened to me. Any lawsuits?

Don't do it! Had a closing date. All paperwork cleared to close. Day of closing i could not get in touch with my loan officer. I ffinally was able to contact Jack Hoban. He said 75% of the company was fired and they could not honer their original commitment. Jack promised a refund of the money put out. No call back from Jack! No surprise. DO NOT DO IT! Jack, return my call!



They are out of business!

This place is now out of business. They took my $450 appraisal money, told me I was approved and then sent an email to me saying there out of business. Now I'm my only recourse is to dispute charges on my CC. Let me know if anyone else is suing. Not sure you can get blood out of a turnip, but they are not only costing us the fees they got, but also interest rates have spiked another .5 % since I was told I locked. That is a pretty big increase during the course of a 30 year mortgage. I think class action suit is in order.

This is a fake company. It is not BBB accredited. There is an alert on this company at BBB site. They surprised me by cancelling my Approved Loan just couple of hours before the Closing. They didn't even inform me about that and no correspondance either. I learned about the cancellation thru my Title Closing company! I am challenging their business practices and invite folks who suffered the same from them. I am suing them and anyone can join me.

AVOID this company!!! They locked me into a rate, and then failed to honor their commitment. I had gone through the application, appraisal, loan processing, and underwriting and was at the point (50 days from my first point of contact with them) where I provided time slots for closing with my loan officer. I then learned he was let go along with at least half their workforce and that the company could not honor their rate quote. They suggested I walk away, or that MAYBE they could offer me a rate about 0.75% higher the following week.



Never do business with a company that can't honor their commitments!!

I had a similar experience to the other posters - delays, changing stories, and hidden fees - specifically a never-announced extra $750 to extend a lock, rather than just letting the rate float, since rates hadn't changed. When they rejected a within-lock closing date.



BBB was no help, though at least they have lowered this company's ratings. They are a predatory, bait-and-switch based company. Stay away.

Do not do business with Pleasant Valley. I contacted them for a simple refinance. Initially, the loan officer David Kaye provided a rate and estimate of outs. As the application process continued,there were addittional fees and charges over time. I also had a harder time getting in touch with David, despite repeated attempts to call or email. When the final numbers came in, they were significantly higher than originally quoted. The lack of communication, hidden costs, and overall unprofessional conduct on David Kaye's part led me to walk away from the refinance. I would never recommend Plesant Valley. Stay far away.

I have been working with Pleasant Valley for months now. At first it was very nice working with them. My loan officer was pleasant and very responsive. Then, after a few weeks, he seemed to change. On multiple occasions he requested forms that I had sent previously, he forgot entire conversations we had, and then claimed that my bank accounts didn't have enough for my down payment and closing costs (because it turns out, he forgot to how to add). I keep most of my money in mutual funds and they wanted a proof of liquidation form from that account. When I spoke to my account representatives (I spoke to 3 people), they had no idea what a proof of liquidation form was. After a few weeks of going back and forth with the mutual fund agents and PV, suddenly this proof of liquation form was no longer needed! After that, PV requested a formal proof of vacancy legal document to finalize the loan approval. I sent the request to my realtor who had no idea what that form was, but advised PV to just add it on as a closing commitment. After a month of going back and forth about what it was PV actually needed, turns out it was just a simple, signed word doc of when the house would be vacant. Just for my own sanity I reached out to a wells fargo underwriter, who was also unfamiliar with what a proof of vacancy form was, but assumed it was related to refinancing. During our last conversation, my loan officer actually started laughing when I mentioned the conflicting information i received from wells fargo and others. He made statements like "I know I've explained it to you before, but you probably didn't understand, so let me explain it again" which I find unnecessary. He also started laughing when I asked to speak with a supervisor or the underwriter herself. In addition to these instances, I was never sent a mortgage commitment (first time buyer, didnt even know that I needed that) until my lawyer started asking for it. And I was just told that since my rate lock is expiring, i'll either have to pay $750 to have it extended for 2 weeks, or wait a full 45 days to lock in another rate. Lesson learned, go with a company that knows what they're doing. Stay away from Pleasant Valley.

Thanks Michael for your help in securing a fantastic rate! While we had hoped to close earlier, you made it no-hassle in closing regardless of the various delays. I would happily recommend Pleasant Valley Home Mortgage and am glad I found you guys on Bankrate.com!

Recently we closed a mortgage contract with Pleasant Valley Mortgage. We had the good fortune to process the deal with Mr Weindel who treated us with the utmost respect and professional manner that I have not experienced dealing with any other loan officers. This type of transaction is stressful & time consuming for the average person to undertake. Mr Weindel guided and supported us every step of the way, There were a lot of obstacles including my wife's unexpected surgery. Most would have left us by the roadside, but not Mr. Weindel. He was always there to assist and provide guidance.

We just refinanced through PVHMC. It was the smoothest, easiest refinance I have ever done. Their rates and closing costs were better than my credit union! I also cannot say enough about our loan officer, Christian Cooper. He was so responsive to emails and reassuring of our concerns that I felt like his only customer.

My broker at Pleasant Valley, Mary, sent an unencrypted email with the Social Security number of both my wife and myself. She then argued that it was safe to do so. I was transferred to VP John Baldino, who laughingly told me that they write millions of dollars and the FBI hadn't shut them down yet. He implied that any fear of identity theft was "my opinion". He blamed me, saying that I could have requested a password (as if I had known my SS would be in an email). I ultimately had to file a fraud alert with Experian to protect myself. I deeply regret ever attempting to business with this company.

If I could give this company zero stars I would. I have been working with them for months now on a refinance. I have a credit score over 750 and no debt to speak of. I provided every piece of requested documentation within 24 hours of it being requested. A model loan candidate. In spite of this, they have stretched out the process forcing the time to a point where I would need to pay to extend my rate lock. They have repeatedly contradicted themselves on the information given to me from one day to the next. In general, I would say that sometimes it is worth paying a little more for quality service and people you can trust. Would you go to the cheapest mechanic who always fails to fix your car?

I called Mr. Fox for a class assignment, the purpose was to compare rates from three different lenders. Needless to say he was knowledgable and pleasant.