ALG Capital, Inc. ratings, reviews and complaints - Mortgage Services

Complaints and Resolutions

Complaint Experience

N/A

Complaint Resolution Index (CRI)

Complaint Resolution Index (CRI) Explained The Complaint Resolution Index (CRI) is an indicator on how responsive a company is in addressing and resolving customer complaints brought to their attention by BCA. If they are considering doing business with the company, consumers can use this indicator to forecast the likelihood of having their issues addressed if a problem arises. CRI measures the company's customer satisfaction abilities through BCA’s complaint mediation process.

A variety of factors are considered when calculating CRI. This includes how quickly a company responds to complaints, the number of complaints against a company, whether the company addressed complaint allegations, and the outcome of the complaints. CRI is just a subset of the overall rating for the company. Consumers are encouraged to take into consideration the company's CRI, their overall BCA letter rating and other relevant information about the company so they can make a well-informed purchasing decision.

BCA's Summary and Analysis:

Complainants allege the company misrepresents loan terms and conditions, forges signatures, and fails to provide customers with complete sets of paperwork until their 3 day cancellation period has passed. Some complainants claim they signed loan docs with one interest rate, but after funding they discover the final loan documents disclosed a much higher interest rate than previously agreed to. Other complainants report that cash back amounts received were considerably less than expected, or that their monthly mortgage payment increased from between $200 and $700 per month. Many complainants claim that the company added previously undisclosed fees for services totaling thousands of dollars.

The company responds to some complaints by denying complaint allegations, offering to provide copies of signed agreements, offering to work with customers on another refinance, or by denying responsibility for the customer. One or more complaints are unresolved meaning the company failed to properly address the complaint allegations or their response was inadequate.

Our complaint services are free and our team of expert mediators will assist in resolving complaints with businesses.

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Complaint Closing Statistics

0 complaints against ALG Capital, Inc. closed in last 3 years.

Complaints	Type of response
0	Making a full refund, as the consumer requested
0	Making a partial refund
0	Agreed to make an adjustment
0	Refusing to make an adjustment
0	Refuse to adjust, relying on terms of agreement
0	Unanswered

Other Information

Company Info

This company's business is providing mortgage services.

Primary Contact:	Mike McConville
Business Started:	2/14/2006
Social:

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Licensing

As of our last verification on September 11, 2009, this company was not licensed by the Department of Real Estate to perform mortgage services. For the most up-to-date information regarding license status, consumers may contact the DRE by calling (916) 227-0886 or by visiting their website at http://secure.dre.ca.gov/publicasp/prls.asp.

Government Actions

BCA has no information regarding government actions at this time.

Comments and Analysis

We urge caution. Mortgage fraud may take many different forms, so it is not always easily identifiable. It may appear as a subtle material misstatement, misrepresentation, or omission relied upon by an underwriter or lender to fund, purchase, or insure a loan. Mortgage fraud may be perpetrated by one or more participants in a loan transaction, including the borrower; a loan officer who originates the mortgage; a real estate agent, appraiser, a title or escrow representative or attorney; or by multiple parties as in the example of the fraud ring described above. Dishonest players may encourage and assist borrowers in committing fraud because most participants are typically compensated only when a transaction closes.

Other Considerations

The California Attorney General recently sued Michael McConville and his brother Sean for their part in the "Property Tax Reassessment" scam which targeted Californians looking to lower their property taxes. Tens of thousands of mailers were sent out that featured official-looking logos and demanded hundreds of dollars in payments for property tax reassessment and reassessment appeal services. The statements warned homeowners that if payments were not received by the "due date" they faced late fees or would have their file marked "non-responsive" or "ineligible for future tax reassessments." A copy of the press release can be found at: http://ag.ca.gov/newsalerts/release.php?id=1734

Industry Resources

Advertising Reviews

Additional Info

DBAs:

ALG Capital

ALG Mortgage

ALG, Inc.

Websites:
There are no additional web sites.

Contacts:

Customer Service

Other Categories:

Mortgage Services

Addresses:

15455 San Fernando Mission Road, Suite 307, Mission Hills , CA, 91345

Reputation Report

ALG Capital, Inc.

Complaints and Resolutions

Other Information