CapWest Kansas City offered refinance plus cash out at 4.8% pending appraisal for about $85, 000. Mr. Lander was the officer. House appraised lower than expected so no cash out available but still $109, 000. High enough to refinance so they said everything was fine. CapWest charged my credit card $475 and then sent a letter to reject my application. Emails were not returned despite repeated sending. Said he tried to reach me by phone but cell, home, and work phone showed no missed calls or messages. Two weeks after rejection finally returned email. They claim is was because my property was not acceptable based on the appraisal and they have nothing to do with the appraisal. I told them I thought this was a scam. Easy to charge and then back out on some technicality. He said he resented that since they were out the money for my appraisal and setting up my account. When I asked what the $475 was for he said it was for the appraisal and other things "that CapWest paid for". How many other approved loans do they do this to each month? I think this is a scam and wonder how much money they are making from turning down loans. Filed complaint with Better Business Bureau. I see there were 11 other complaints that were dismissed by BBB. BBB closed my complaint on Nov 25 even though I had until Dec 5 to respond. Looks like BBB Kansas City is also in CapWests pocket. Suspicious that CapWest still maintains an A+ rating.<br />
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CapWest did finally give me $100 back because of the BBB complaint but said the appraiser cost $375. They will offer no proof. I asked the appraiser what he had been paid and he said that the mortgage company prohibits him from telling me even though I actually paid for the appraisal. That is suspicious. CapWest claims this is an appraisal issue and they are not allowed to address appraisal problems but the house did appraise fine for this area and for what I was asking for.