| These complaints were
listed with the
Bad Business Bureau
Regarding World Saving Bank. |
Submitted: 8/31/2004 4:25:56 PM
Modified: 8/31/2004 4:26:00 PM
|
| World
Savings And Loan ripoff This company wouldnt accept
my appraisal report done by their own people once
they realized I was black and then had another done
which came in under the current market value
Piscataway New Jersey |
www.worldsavings.com,
worldsavings.com, world savings, worldsavingsbank.com,
world savings bank, http://worldsavings.com, http://www.worldsavings.com
Company
World Savings And Loan
Address:
345 Hoes Lane
Piscataway New Jersey 08854
U.S.A.
Phone Number:
Fax: |
I was looking to do a
loan with World Savings and Loan. This company is
completely prejudice. There is no other way to look
at this. I had a black loan officer who works for
them, and also stated that there were alot of shady
doings going on at this business, but I guess she
has bills to pay as she is still there.
I had an appraisal done by their own people (which
they told me they only use their appraisers) after
which my appraisal came in high as expected. Well
they weren't to please when they realized that they
had to commit to my loan, so they stated that my
debt ratio was off. LIARS!! My husbands salary was
$120k and mine was $80K, with no other debt. WHAT
THE...... So they declined our loan and stated we
should try back in 3 months, well we did and this
time they had another appraisal done, which they
made us pay for stating that it was a different loan
package.
This time they told us the appraisal came in under
what we needed. Let's say $123K less than the
current market value of our home. Our home is newly
built 3500 square feet, every upgrade imaginable and
lots of others. The selling price to build it at
that time without any additions was $570K, they
appraised our home for $480! When we told them about
the previous appraisal they had just done three
months back, they stated that the company they used
they were no longer using their services. They had
me speak with a district appraisal manager, and the
manager of the loan servicing dept.
Both who gave me the run around until I started to
scream RACISM. Then I was told that they would
refund me my appraisal deposits. Which they did, but
they were short $20. Now I had to find another
company at the last minute, which was a total
nightmare and I ended up with another LOSING Broker.
Also, the broker stated that several loans that she
has brought in for over $500K for minority home
owners, excuses were given and these loans were
denied. I submitted my information to the New Jersey
Banking and Insurance Division, who then passed it
on to another office.
Which of course, I have not heard from as of yet. I
did receive my appraisal fees minus $20, but I am
upset because the loan I was promised was at a rate
of 1.9%. My oldest daughter is going to college and
I really needed a lower interest rate. Please don't
ever fill out the information that states, what is
your ethnic background. It is definately used
against you!!!!
Betty
Princeton, New Jersey
U.S.A.
|
|
Submitted: 9/2/2004 7:50:18 AM
Modified: 9/2/2004 7:50:00 AM
|
| World
Savings Hidden Clauses Caldwell, Warren New Jersey |
www.worldsavings.com,
worldsavings.com, world savings, worldsavingsbank.com,
world savings bank, http://worldsavings.com,
http://www.worldsavings.com
Company
World Savings
Address:
worldsaving.com
Caldwell New Jersey
U.S.A.
Phone Number:
Fax: |
Shortly after my 26,I
closed on my home in March of last year and believed
that I got a good deal considering that I was a
young first time buyer. Everyone, including family
had assured me that I had gotten a good rate. I
purchased the home with a conventional loan via
world with an interest rate of 5.25.
Prior to closing, the loan officer who was assigned to
me, did not process my paperwork and allowed all my
information to sit on his desk for over 1 month.
Mind you, during this time, he told me, my attorney
and the seller that everything was fine and that my
closing date would be in Dec. 2002. I had already
put my deposit down on the home and was told that my
mortgage was approved.
I waited and waited and didn't hear back from the
officer, when I finally got intouch with him, he
told me that I had to resubmit all of the paperwork
world required, because they had expired. I was in
disbelief. Based on his assurance that the house
would close, I had given my notice to my landlord
and had to move out within the next couple of weeks.
Where was I to go? I got on the phone and called
anyone I could until my complaint got to the
vice-president. He and his staff contacted me and
personally apologized for the officer's actions and
told me that they would pay for my closing cost
because of the problems that I had experienced.
At closing, my husband and I honestly did not remember
World telling us that them paying our closing cost
would result in a five year lien on our home because
they took the funds from the federal government
assistant housing program.
My husband and I found out when we attempted to get an
equity line of credit to do debt consolidation. We
had acquired enough equity in the home but no one
would help us. The first company said that I had two
mortgages on the home and I disagreed with them
because I only knew of one. The second company said
that when they did the title search I only had one
lien which was the 1st mortgage. I was really
confused at this point.
When I asked World what was going on, they informed me
that the closing cost was a grant with a five year
lien. I was shocked. I informed them that on a title
search done on my home, it only showed one lien.
They said that the closing cost was tied into the
first mortgage. They even sent me letter saying that
I could pay off the second lien, however, the money
could not come from the other bank that I am trying
to get a loan from. This is considered predatory
lending.
I went over my closing paper and there was nothing
stating that the money couldn't come from another
lender. Even the pay off letter was sent to a lender
that was willing to give us a loan. For every year
that I live in the home, the loan would be decreased
20%. I tried getting an equity line of credit
through World but was denied.
I don't understand the legal terminology I have read
through the 30+ pages. The attorney was recommended
to us from the seller and was familiar with World so
I felt comfortable dealing with her. In hindsight I
feel so naive.
The one terminology that I have heard through out us
trying to get a equity loan has been predatory
lending. I don't quite understand it but how can
another lender get in trouble for paying off my 2nd
lien when World has given them the written okay to
do so? and Why can't another lender help me?
If someone could answer me, please help me. I feel
trapped and besides myself at this point in time.
All responses and suggestions would be greatly
appreciated.
Georgia
orange, New Jersey
U.S.A.
|
|
Submitted: 10/4/2004 2:04:53 PM
Modified: 10/4/2004 2:05:00 PM
|
| World
Savings Ripoff rapes & pilages the honest and
hardworking Manteca California |
Company
World Savings
Address:
Nationwide, U.S.A.
Phone Number:
800-282-3451
Fax: |
Last December my
husband was hurt and did not work one week. He
called World Savings to let them know our payment
might be 2 weeks late (his next pay period) and they
sent him to the LOAN COUNSELING DEPARTMENT, there
they were understanding and suggested that he spread
our entire December payment throughout a 6 month
period and that way it would help us out financially
and not be considered a late payment. That sounded
good to him so they set up a Jan. to June payment
plan which we paid as agreed.
Recently I had our credit report pulled and found that
WORLD savings REPORTED us 30 days late for all of
the 6 months. When I called and told them that made
no sense we would have had 1 late payment rather
than 6 if they were not so helpfull in thier LOAN
COUNSELING DEPT. They said thats just how they do it
and there is nothing they can change. They suck. A
california contracts attorney tells me they can't do
this.
Joni
Manteca, California
U.S.A.
|
|
Submitted: 1/11/2003 2:36:55 PM
Modified: 11/16/2004 7:26:19 PM
|
| World
Savings & Loan, a subsidiary of Golden West
Financial rip-off by providing incorrect loan
information to induce lending Warren New Jersey
*Consumer Suggestion ..World Savings Bank is a
predatory lender |
World Savings & Loan, a subsidiary
of Golden West Financial
Address:
198 Washington Valley Road, Warren, NJ 07059 -- GWF:
1901 Harrison Street, Oakland, CA 94612
Warren New Jersey 07090
U.S.A.
Phone Number:
800-728-1568
Fax: |
On 12/16/02 I
telephoned our current lender, World Savings & Loan,
concerning refinancing our present mortgage with
them. Their representative, Jacquelyn Cabrera,
quoted me a rate for a 15 year - no point loan of
5.55% with a charge of $1,000 with $35 charged to my
credit card but included in the total charge. World
had a slightly higher rate than several other local
banks but the total expense would be less with a
current lender, or so I thought.
During Christmas week World's paperwork arrived. They
had charged my credit card with $335, vice $35, and
provided a cost estimate of some $3, 273. There were
so many ridiculous charges (many repeats of
information they already had or that other lenders
acquire for minimal charges by internet) listed on
their estimate that I would have laughed had I not
considered it a serious matter. I made several phone
calls concerning the same and different persons, Ms.
Cabrera was on leave, told me that the cost was just
an estimate and not to worry about it. But the
language of some paperwork sent for us to sign also
allowed World to up the loan rate depending on
processing time.
I spent some twelve (12)hours completing World's
paperwork but informing them that I only wanted to
proceed if they honored their original quote to me.
My response letter and paperwork was sent to Ms.
Cabrera with a copy of the letter to Russell W.
Kettell, President/CFO/Treasurer of Golden West
Financial on December 30th.
On 1/3/03 a James Newson of World called me to discuss
the matter. He stated I had "missunderstood" the
$335 part of the quote and that World's charges were
$1,000 but there would be charges "by others." I
cancelled the application. I make this report a week
later having not even heard an apology from World or
Golden.
PS: I have a PhD in the real estate realm , am a RE
broker in several states and hold other real estate
certifications. I do not make these type errors. I
charge World with making quotes they would not honor
in order to increase current income.
Edward W.
Burke, Virginia
U.S.A.
|
|
Category:
Mortgage Companies |
Submitted:
1/18/2005 10:20:56 AM
Modified: 1/24/2005 6:28:28 PM
|
| World
Savings ripoff Predatory Lending Interest Rate Scam
Oakland California *REBUTTAL employee ..This loan was
not explained to you correctly |
Company
World Savings
Address:
Oakland California 94612
U.S.A.
Phone Number:
Fax: |
World Savings advertised a
1.95% refinance rate for the 1st year, 2.95% for the
2nd, and 3.95% for the 3rd, the floating the 4th and
thereafter. But the loan statement failed to disclose
that the real rate is 4.85%, and the 1.95% is portion of
this real rate. The difference
of 2.9% will be deferred and added to the principal
balance of the loan! And the interest rate changes every
month! So in the 2nd month, the difference has been
increased to 2.925%, and keeps adding to my balance.
The disclosure statement is devised to mislead any
consumer by listing an estimate of monthly payment in 30
years. It never mentioned the deferral of interest!
The 4.85% real interest rate is disclosed as a default
rate which is to be applied if we can not make a payment
in time. How can World Saving charge 2 interest rates in
one loan? One to mislead the borrower, and the other to
charge the borrower?
Guy
Oakland, California
U.S.A. |
|
Submitted:
3/3/2005 12:20:10 PM
Modified: 3/3/2005 12:20:00 PM
|
| World
Savings/fidelity Title/harbinger Morgauge world
savings/fideity title/habinger morgage ripoff -no true in
lending-deceptive intrest rate El Dorado Hills - roseville
California |
Company
World Savings/fidelity Title/harbinger
Morgauge
Address:
5137 Golden Foothills Parkway #130
El Dorado Hills California 95762
U.S.A.
Phone Number:
Fax: |
we were not told our intrest
rate at 1.95 would not cover the intrest on this loan at any
time.we were told 1.95 would be a minimum interest only
payment by harbinger,& fideity. at 1.95 we are incuring
defered intrest,our pincipal is increasing, not remaining
the same as we were told it would, several times. we were
rushed though the paper work, not given time to read any of
it. they assured us "they would explain all aspects,it was
very simple, standard loan". we paid off all dept, therefore
there was no need for futher cash to be freed up.(the
rebutals explanation for this type of loan).
harbinger morgauge did not even attend the signing of the
documents(frank lawongo). he cost us an additonal $500.00
when he closed our equity line instead of paying it off as
advised. where dose the truth in lending act come in. doing
bussiness with any of the thee companys will only get you
screwed in lending!
Jim
rocklin, California
U.S.A. |
Submitted:
3/3/2005 8:01:07 AM
Modified: 3/17/2005 9:46:01 PM
|
| World Savings
Bank ripoff After closing date had been confirmed requested
additional information which was provided and I have not heard
from them since. Boynton Beach Florida *UPDATE ..Silence is
golden or so they think. |
Company
World Savings Bank
Address:
12700 Military Trail
Boynton Beach Florida 33136
U.S.A.
Phone Number:
305-466-0151
Fax: |
Approximately 3 months ago I
applied for a new mortgage with World Savings Bank thru my
mortgage broker. In December of 2004, I received an application
kit and in a seperate letter I was advised that my application
was withdrawn by me or my broker which was not correct. World
Savings had no idea why I would receive both an application kit
and a notice of withdrawal at the same time.
The process continued and I was advised, after numerous requests
on my part that my application had been approved & a closing
date was confirmed with me and my title company. I should add
that I sent a $310.00 application fee along with the
application.
Two days before the schedulde closing I was advised by my broker
that due to ongoing litigation between my condominium
association and the owners of the corporation that manages the
property that the closing was delayed. I contacted my title
company along with my broker and was advised that an
indemnification on the title was needed in order to protect
World Savings interests even though the litigation in no way
affected the value of my condominium and/or put World Savings at
risk.
The indemnification was completed and forwarded to World
Savings. I thought that would close the issue however World
Savings then requested and was sent a letter from my condo
association fully explaining the litigation. I thought that
would due the trick.
After repeated calls to my broker requesting a status update and
being advised that World Savings had not given her any
additional information and a request to speak with a
representative of World Savings, I still have not been notified
by World Savings as to the status of my loan application.
As of this date, March 3, 2005, no one from World Savings has
notified me regarding the status. This delay has caused me to
have to continue paying higher mortgage payments to my existing
lender for the previous two months which amount to approximately
$1,000.00 more then I expected to pay thru World Savings and
that loss does not count the $310.00 application fee.
I cannot understand and other consumers should be leery of a
financial institution like World Savings that treats its
potential customers with the disrespect and lack of
consideration evidenced by my experience. Anyone that applies
for a loan is entitled to know the status at all times.
It would appear that World Savings Bank aggresively solicits
business, gets application fees, makes money and leaves the
consumer in the dark to fend for themselves regardless of the
consequences.
I believe that I should receive a refund for my application fee
and due to World Savings poor business practices, lack of
communication as to the status of my application after it was
approved and all information that they requested subsequent to
that approval given to them, I should also receive the
difference in what I have spent in mortgage payments over the
past two months and what I should have been paying if World
Savings had conducted their business properly ie. an additional
$1,000.00.
Tatyana
aventura, Florida
U.S.A.
Click here to read other Rip Off Reports on World
Savings Bank
|
|
|
Update
Submitted by the original author
Submitted: 3/17/2005 6:02:19 PM Modified: 3/17/2005
9:46:01 PM
|
|
|
Silence is golden or so they
think. |
|
I filed my report on 3/3/05 and
as of this date, 3/17/05, no one from World Savings Bank has
contacted me with an explanation as to why I have had no
communication regarding my home loan. My mortgage broker has
informed me that I am not the only applicant who has had a
problem with them.
I do not understand how this company can do business in such a
slip shod fashion, wasting peoples time and money without even a
bye your leave.
Anyone who does business with this bank should keep in mind the
most famous of buyer/seller quotes, ie. Caveat Emptor!!!
Michael - aventura, Florida
U.S.A. |
| Category: Banks |
Submitted:
2/1/2003 10:31:55 AM
Modified: 2/1/2003 10:31:55 AM
|
| World Savings
Bank Class Action lawsuit against World Savings for RESPA/TIL
violations victimized many consumers Oakland California |
World Savings, World Savings Bank
Address:
Harrison Street, Oakland, CA
Oakland California
U.S.A.
Phone Number:
|
***
An internet search came across this listing for a class action
lawsuit against World Savings for RESPA/TIL violations.
This was posted by the defense attorneys on their website.
Managing partner of law firm: Gregory Jordan, based in
Pittsburgh, Reed Smith is the law firm. They are defending World
Savings in the court action, so consumers should not contact
them. Consumers should file their complaints against World
Savings with the Office of Thrift Supervision, HUD and/or their
state Attorney General's office.
Posting on the Reed Smith defense lawyer website:
"Kluge v. World Savings Bank, No. 01CV1591 (D.N.J.) - defending
putative class action alleging claims under RESPA, TILA and
civil RICO regarding alleged failure to disclose yield spread
premium; motion to dismiss pending."
Anon
statewide, Florida
U.S.A. |
|
|
Category:
BanksSubmitted: 2/26/2003 12:55:08 AM
Modified: 2/26/2003 2:40:29 PM
|
| World Savings Bank
Slimebags of the Universe PREDATORY LENDING fraud RESPA/TIL
violations Oakland California *Consumer Comment ..Contact info for
ripped off Florida consumers |
World Savings, World Savings Bank
Address:
1901 Harrison Street
Oakland California 94612
U.S.A.
Phone Number:
510-446-6000
Fax: |
I am filing a new report on a
continuing matter with World Savings Bank.
In a letter received yesterday, the World Savings Director of
Field/Fair Lending Compliance (Robert C. Bietz) continues to alter
the facts in their response to the Office of Thrift Supervision.
In an earlier response to the OTS, World Savings Bank sent some of
the documents they were using in their defense. These documents were
altered, or in the case of the appraisal, the amount was different
than what was told to me by the loan officer. The loan application
was altered by the loan officer after I signed it, without my
knowledge or consent. Can you say "fraud" and "forgery", World
Savings?
Then there is some chest-beating on the part of World Savings,
claiming once again that my original loan was denied due to the
facts in the application, even though those same "facts" were
altered by the bank to suit their predatory purposes. One of their
lines in their letter is absolutely priceless: "...will defend any
allegation of wrongdoing to the fullest extent of the law." What's
that, a veiled threat? Screw you, World Savings.
I feel so lucky that I was smart enough not to continue the loan
process with this bank. I got a mortgage through another lender and
was able to get my house.
I continue with my complaint against World Savings so that there is
a record for other consumers when they get screwed by this bank. HUD
and the Florida Commission on Human Relations (civil rights) are
also investigating this bank.
I notice on the internet that there is a class action suit against
this bank for RESPA/TIL violations. This explains the vigorous
assult they continue against my complaint--if there are other
complaints such as a class action, their fines for another similar
case will skyrocket.
If you have been a victim of World Savings, file a complaint with
the
Office of Thrift Supervision
PO Box 7165
San Francisco, CA 94120
WORLD SAVINGS BANK IS A PREDATORY LENDER
Anon
Sarasota, Florida
U.S.A.
|
1. 5/19/2005
2:31:21 PM
2. 3/17/2005
9:46:01 PM
3. 3/3/2005
12:20:00 PM
4. 1/24/2005
6:28:28 PM
5. 11/16/2004
7:26:19 PM
6. 10/4/2004
2:05:00 PM
7. 9/2/2004
7:50:00 AM
8. 8/31/2004
4:26:00 PM
9. 6/19/2004
3:53:54 PM
10. 4/27/2004
10:45:00 AM
11. 3/18/2004
8:04:11 AM
12. 7/15/2003
11:46:13 AM
13. 4/29/2003
10:08:57 AM
14. 2/26/2003
2:40:29 PM
15. 1/29/2003
12:06:36 PM
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Date |
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16. 1/27/2003
2:51:45 PM
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17. 1/11/2003
2:39:49 AM
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18. 1/11/2003
2:39:00 AM
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19. 12/26/2002
1:45:51 AM
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20. 7/10/2002
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21. 6/22/2002
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| 22. 5/7/2002
11:33:52 AM |
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23. 4/23/2002
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| 24. 2/28/2002
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| 25. 12/20/2001
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Copyright © 2003
Mortgage Loan Solutions - All rights reserved.
Revised:10/07/2009.
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