Reply from NSS Lending, LLCMay 7, 2022
5/8/2022
After we received the review, we picked up the phone immediately (you didn't answer). We followed up with a text, and then an email hoping we could talk to you before responding to the review. We attached all the documents to the email we sent, but unfortunately, we can not attach those documents to this response.
Though this was over a year ago(January of 2021) we keep great records. If you recall, your broker, Kara P. brought you to us when things didn't work out with your previous lender.
We provided terms based on the information Kara provided---you had 2 flips in the most recent 36 months, when actually you had only one, the other from 2017. This required the terms to be changed from 90/100 to an 85/100 which was sent to you via email on February 5th, 2021---several days before the closing.
We charge a flat rate of $2500.00 for processing a loan--no matter what size of loan, $50K to $5MM, always $2500. Something that is unheard of in the industry. We are not greedy and we don't corner our borrowers into anything.
Your broker Kara charges points and asked that we put the $3909.00 in commissions on the term sheet we provided you which was sent every time you received a term sheet from us. Only Kara can control her fee.
Claiming WE ADDED a gross amount of fees to the final HUD is just not true.
We do not add fees, nor prepare the final HUD/Closing Statement
That statement is prepared by your closing agent whom you hired.
We have no idea, what the cost of title, legal, government, filing, etc. fees are and thus don't include them on the original term sheet. We emailed you a copy before responding to this review and highlighted in yellow all of those fees.
Because these fees differ from state to state, city to city, our lenders have a disclaimer saying they do not account for 3rd party fees. We can not change those fees, they are customary on all real estate transactions even cash purchases, and as an investor we believe you have seen those fees on past closing statements.
When you expressed your frustration with the fees, we assumed it was our and Kara's fees not the 3rd party closing fees. We told Kara we would pay her out of our processing fee if she would cut her broker commission. She refused. Looking back, we thought you walked away, because of Kara's commissions.
Most of the conversations were between you and your broker, Kara, not between us. In fact, Teri never spoke to you on the phone one time (she does the processing), so your comment that 'Neal and Teri are very smooth talking' in not true.
As for being quiet when you asked us to remove the fees. I have never known Neal to be quiet about anything; he is hyper customer service focused. Again, we attempted to reduce the fees that we COULD control, by asking your broker Kara to reduce her fees and accept a portion of our money.
Remember, we are the ones who did all the work on the file, including getting your previous appraisal accepted by the new Lender which saved you time and the cost of a new appraisal which is typically several hundred dollars. Again, hyper customer service focused.
This 1 Star review is not based on accurate facts. We pride ourselves on fair practices and excellent customer service. We find it odd that you have come back with a negative review 1 year and 4 months later and wonder why now and not back then? We are so sorry this has been weighing on you for this long.
Neal & Teri
NSS Lending, LLC
'Never So Simple' Lending
(312) 391-7875
[email protected]
5/9/2022
Letitia,
We are sorry that we failed to meet your expectations.
We wish you well
Neal & Teri
