A loan officer from Mortgage Investors Corporation (MIC) came to my house on 14 JUN 2011 and pitched their 3/1 ARM hybrid loan. I was concerned with the total cost of the refinance (over $8k) and asked if they offered any other loan products. I was told no, even though over the phone a MIC employee ensured me that they offered several different loan products to "fit my needs"- apparently a lie. I expressed my concern with the Loan Officer about the closing cost, I told him I'd like some time to go over the numbers, which the Loan Officer had misrepresented by using my original home loan balance instead of the current balance which was paid down by $7k. I asked the Loan Officer if I would be locked in by signing the papers. The Loan officer told me that I'd have 8 days to cancel the loan at no cost. I was then told to put down a "good faith" deposit of $1, 344 on my MasterCard. Again, I was told by the loan officer that I would get my money back if I withdrew my application. The next day, 15 JUN 2011, I called MIC to cancel my loan process. I eventually spoke to Christian in Loan Review. I clearly stated to Christian several times that I wanted to cancel my application and he tried to convince me for over 10 minutes that I should continue the process. He clearly stated the he would "freeze" my credit card deposit of $1, 344, and would not charge my card. He said he'd call me back in a week or so to see if I still felt the same way. Within an hour of ending the conversation, I called Christian back again, and again stated that I wanted to cancel my loan application, and refund my $1, 344. He proceeded to use illogical math and reasoning to persuade me to stay with the loan process. He again reassured me that my credit card would not be charged. The next day, 16 JUN 2011, I called again and spoke with Christian, and he finally agreed to withdraw my loan application. On 18 JUN 2011, I checked my credit card account to find that Mortgage Investors Corporation had charged my credit card $1, 344.00. I attempted to call MIC, and no answer.
In general, I feel that MIC sales practices are aggressive, coercive, and misleading. I have dealt with 4 different Mortgage Lenders in the last 2 months, and none have been as aggressive or misleading as MIC.

The other day after receiving numerous calls from mic i decided to pic the phone up. tmrw im suppose to have a appt with them at 9. but after reading all the reviews from all u peoplke im seriously thinking that this is a huge scam and im not about to risk the house of my dreams by signing some goofy paper that they say i will have 3% rate. right now i have 5 and yes it sounded good about the 3 but like i said i have been reading review after review and as sson as im done writing this i am totally cancealing my appt. i want to thank all of u for expressing your opinion and your horrible experiences that u had. for u who got taken I'm sorry. i wish i could of wrote this before u got involved