There is no shortage of complaints about mortgage companies at the Better Business Bureau. But one Washington-based lender and broker was commended by the agency for its lack of complaints.
The BBB serving Alaska, Oregon and Western Washington said it recently recognized Premier Lending Inc. for its "commitment to superior customer service" and named it to its honor roll for the year ending Dec. 31, 2005.
The honor roll distinction is given annually to member companies of the bureau that go an entire year without accruing a single valid complaint, which Premier spokeswoman Dana Pake said is "a feat for any company, but especially for those providing mortgage services."
Honor Roll companies demonstrate a shared effort to support the bureau's philosophy of truth, honesty and fairness in the market place, according to an announcement.
"Mortgage mishaps, such as those practices exhibited by companies like Ameriquest -- a company whose techniques of misleading consumers preyed on some of the most vulnerable consumers (those in the subprime market), give many in the industry an undeserved black eye," Pake said in an e-mailed statement.
"Premier Lending ... works diligently every day to shake that reputation," she added.
Donovan Douvia, founder and chief executive of Premier Lending, said in a written statement, "Everyone at Premier, from receptionist to loan officer to executive staff, strives every day to provide only honest and fair service.
"Earning a place on the Honor Roll is a testament to our business practices and code of ethics."
On a national level, real estate finance is reportedly the 17th most complained-about industry, with 7,455 complaints submitted to the U.S. BBB against mortgage companies last year.
The bureau says complaints against mortgage companies range from misrepresentation of services, misleading consumers about terms of their mortgage rates, asking consumers to pay fees in advance, high-pressure sales tactics that conceal high fees or points, and deceptive and predatory lending practices.