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Top dot mortgage is a loan modification company that was advertised on Fox New to lower you mortgage rate and get back on tract even with bad credit. I was told that you have to give 2,500 which would be placed in a trust fund if nothing could be done it would be returns to you within 60 days its now going on 4 months. If any one at their is facing this same problem with this particular company let get together and stay a lawsuit against company .

I was then told that I need to make a large sum of money to stop forclosure on home and make three consecutive payments from my current loan company before anything else could be done. However I needed the money from top dot to make this happened by a certain date. The refund has yet to be returned. home still in foreclosure this is a very urgent matter.

Monetary Loss: $360.

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HUD No. 10-018

Brian Sullivan

(202) 708-0685 FOR RELEASE


January 25, 2010


Lender faulted for gross violations of FHA underwriting standards

WASHINGTON – The Federal Housing Administration’s Mortgagee Review Board (MRB) today immediately and permanently withdrew the FHA approval of Premium Capital Funding, LLC, a Jericho, New York-based lender doing business as TopDot Mortgage. Today’s action prevents TopDot from participating in FHA programs and seeks a monetary penalty of $674,000.

In addition, the Government National Mortgage Association (Ginnie Mae) is defaulting and terminating TopDot as an issuer in its Mortgage-Backed Securities (MBS) program and is ending the Company’s ability to continue to service Ginnie Mae securities. Servicing of TopDot’s $181.2 million dollar Ginnie Mae portfolio will be transferred to LoanCare Servicing Center, Inc.

The MRB and Ginnie Mae took these actions based upon TopDot’s numerous and egregious violations of FHA requirements, including failure to document borrowers’ income, evaluate borrowers’ creditworthiness, and approving loans with grossly excessive debt-to-income ratios without compensating factors to justify approval.

“This lender demonstrated a pattern of utter disregard for how we do business and its behavior not only put the FHA insurance fund at risk, but placed their...

Mary Kinney, Ginnie Mae’s Executive Vice President, said “Ginnie Mae’s requirements are in place to protect the borrower and the American taxpayer. Both, Ginnie Mae and FHA are working aggressively to ensure that borrowers are not harmed by the misdeeds of lenders. These lenders are on notice that they must strictly adhere to Ginnie Mae and FHA regulations to maintain their status within HUD programs.”

While TopDot may appeal FHA’s withdrawal by submitting a written request for a hearing before an Administrative Law Judge within 30 days, the filing of an appeal does not delay the actions announced today. A complaint seeking civil money penalties will be served on TopDot in due course and the Company will have the opportunity to contest the imposition of the penalties before an Administrative Law Judge.

The U.S. Department of Housing and Urban Development (HUD) is also continuing to evaluate the conduct of individuals who participated in TopDot’s violations of FHA requirements and will move quickly to take appropriate action against those individuals.

If TopDot is your mortgage company, see HUD’s website for more information about the status of your loan and the next steps for borrowers. FHA and Ginnie Mae have taken several steps to minimize the disruption to borrowers whose loans are serviced by TopDot and are committed to protecting all FHA-insured borrowers and the American taxpayer.

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We saw the add and called.Went through an application process and after getting the cost summary we decided not to go with them.

When I called our salesman he turned us over to the manager.

The manager was trying to *** us into doing the mortgage but it sounded like he put us on speaker phone and people were laughing at us in the background.We had a bad feeling about using them and after the way we were treated our gut feeling was right.


yes - all of the above and more

I can't believe that there isn't an attorney out there who doesn't want to earn over a billion dollars in suing them on behalf of all of us

I just don't get it!


I called the number from a comercial I sen on TV I was looking to refinace my mortgage , but they told me that I would never get a new loan because of my credit and that my home was underwater!!They tell me that there attorneys could get me a lower rate without refinacing.

I sent them a check for $4500 that was to be 100% refundable .

The loan officer garrented that I would lower my paymet after two months I could not get them on the phone.Is there anyone that can help me Im in foreclosure because of topdot

Otaniemi, Southern Finland, Finland #82128

Yes, I did check the BBB. There are MANY complaints there too!


Topdot is a mortgage bank, not a loan modification company. Any loan done by Topdot Mortgage is based on the borrowers financial capacity. Topdot is a solid company that helps those who deserve better interest rates.




Lish7 please give me a call on this matter


I am not sure if Topdot is a scam or a fraud. What I do know is their fees are really really outrageous.

Take your time and shop around you can save over 50% with another company.

I did.


they are a bank and do home re-fi which is probley why you dont understand because you bought a house you could not afford and are bitter because you are losing it and being behind and upside down sucks try this get a second job and get on time then call topdot so they can help you

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