Complaints

• Initial Complaint

  08/11/2023

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  Condo purchase & sale : the sale was done during COVID. After closing my mortgage; I asked for the papers which I was never received. This was a one year mortgage. After 10 months with Tribecca, before selling my house . I called the mortgage broker to tell him that I was planning to sell my house , to ask if there was any penalty fees . He refused to give me the information. He said to contact the company lawyer . I proceed & sold my condo 2 months before the mortgage expiry date and ended up in more than 20 k fees for a mortgage of 245k . **** ******* **** *** ******** ****** **** * ****** ** *********. **** *** ****** * Why they are not providing contract papers ? I believe they do it to hide their fees . I want back $ 2500 broker commission during the purchase transaction & the $ 5000 during the sale.

  Business response

  08/12/2023

  I am writing in response to the customer complaint.  Tribecca has been operating in Ontario for over twenty years and is staffed with highly skilled and knowledgeable personnel predominately from the banking and lending industry.  All of our commitment letters are reviewed and signed by our customers prior to closing.  All closing documents which are based on the signed commitment letter are prepared by our lawyers and sent to our customer’s lawyer for independent review.  We always receive a signed document from the customer and their lawyer indicating that the customer’s lawyer has reviewed all documents with the customer and that the customer understands all closing documents.  All prepayment charges are expressly set out in the commitment letter and are repeated, a second time, in the mortgage documentation.  Once all documents are in order, we instruct our lawyers to close the transaction.  The borrower’s lawyer is responsible to provide the borrower with all closing documents.  We also clarify that the prepayment fee mentioned by the complainant is grossly exaggerated and false when compared to our records.  

  Customer response

  08/12/2023

  
  Complaint: ********
  
  I am rejecting this response because: **** ******* *** *** ********* ** **** **** *** ***** *** ** *** **** *** ****** * **** *** ********* 
  - By Ontario law, a mortgage broker is supposed to disclose everything. It is not the job of the lawyer.  **** * * **** 
  - which company charges insurance cancellation: $1500 ?
  - Why did you ask me to e-transfer separate $2500 to the mortgage broker? 
  - $ 845 for appraisal?  The guy never went to see the condo. 
  This business is full of crucks. 

  Sincerely,
  
  ****** *******

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩