Intercontinental Capital Group

Also received deceptive mail from them posing as HUD. I usually junk the dozens of loan shark junk I get every day. Pissed off I gave this any attention thinking that the government was contacting me regarding my loan. This place is trash scamming people. Junk any mail from them.

What everyone is saying about ICG is true.

UPDATE: they finally closed, but this was horrible. The loan processor, the loan officer, and the manager all had very poor communication. They failed to follow up. They never met deadlines. They made false promises from start to finish. I can’t count the number of times I heard «tomorrow» and even «approval should be coming across the fax any moment». unreal. DON’T USE THEM

Like everyone else, I received the misleading mailing from ICG offering MIP reductions for FHA mortgages and made the mistake of sending my information over before doing the proper research. The company rep that contacted me was initially pleasant, but as soon as I told him I was no longer interested (after Googling the company and seeing all the negative reviews and complaints), this completely changed — he became very rude and unprofessional. Just say no to ICG!

Just received the same phony letter. Thanks all for the reviews *tossing in trash can*

ICG sends official look forms to mislead into thinking those forms are coming from the FHA or your lender in an envelope from UPS. Please be extremely careful if you are considering sending your information.

I was disappointed to see a mass mailing from InterContinental Capital Group («ICG») sent via UPS alleging to offer Mortgage Insurance Premium («MIP») reductions for FHA mortgages. The letter included a memo from the from the U.S. Department of Housing and Urban Development, but the letterhead did not reference ICG and instead featured a «Equal Housing Lender» logo. Not until the final sentence of the letter did ICG disclose that it is not affiliated with the current lender nor is it an agency of the federal government. What a sneaky way for a mortgage lender to solicit new refinance opportunities…

Beware of this scammer group. I received a UPS envelope opened it up and the inside contained a notice that appeared to be from HUD regarding reducing my MIP. I was excited because I was thinking, finally something from HUD instead of the constant stream of junk mail I receive regarding the new streamlined mortgage reduction rates. PLEASE READ THE PAPERWORK CAREFULLY, I did not but called them and was immediately able to tell it was a scam, it was then that I began to look closely at the paperwork I received. They even use HUD letterhead on one of the documents. I’m just glad I figured them out before giving them my personal information. They are attempting to mislead people, they are dishonest and are using underhanded tactics.

I was sent paperwork that tried to mislead me into thinking they were from FHA to reduce my MIP payment.
Ignore and throw away.
It is a very dishonest way to get business.

A MINUS Star is what I would give them. I believe that they are a SCAM. Be very very careful. I would not give them any personal information.

Dealing with ICG has been an absolute nightmare. I was referred to them by my realtor whose fiancé works there. At first my loan officer was great and very response. This was my first mortgage so I wasn’t really sure what to expect. I began the process at the end of July. I was told by my loan officer that we should be able to close the end of August/​beginning of September. I had to be out of my apartment by October 1^st and therefore had someone taking over my lease as of that date. At first it seemed as if everything was on track. They asked me for the usual paperwork and documents that are needed for a mortgage. Then I get told that because of the building itself there was going to be an additional week of review but this still put me closing at the beginning to the middle of September. Then as the days and weeks went by they kept being asked for one thing after another. Some of it completely ridiculous and out there. My file went from one underwriting party to the «investors» underwriter. By mid September I still had no date for closing or any idea when it would be happening. I kept getting told by my loan officer «don’t worry you will be closing before the end of the month». My lawyer then scheduled a closing date of ⁹⁄₂₆ (a week after the closing date listed on the contract). However, it was impossible to get an answer from my loan officer. He wasn’t even responsive to my lawyer’s office. When I did get a response i was simply told that there was no update and the reason he hasn’t given me an update is because he didn’t have one. This is unacceptable. If I am due to close in a week then you should do what you have to do to get a response from whomever necessary on what exactly the hold up is, when they expect this to be completed, etc. Finally, I started dealing with the branch manager. He assured me of the same thing, that i would be closing by the end of the month. He was better about keeping me up to date but the closing date of September 26^th was not going to happen. A few days prior they came back and needed yet another document, this time from the condo board. They received this back and on the 26^th and 27^th of September said everything was approved by the investors etc and we shouldn’t have a problem getting everything done in plenty of time for the new closing date of ¹⁰⁄₆ (the seller being very cooperative about being 2 weeks past our original closing date). All of a sudden late in the day on ⁹⁄₂₇ the investors called back the loan for a full condominium review. They were now requesting the condo board to fill out a 61 question, 4 page questionnaire and then would conduct a full financial and legal reivew and determine if the loan would proceed. All of this being done at the 11^th hour. Neither my lawyer nor anyone else I spoke to had ever heard of such a thing. While a condo questionnaire is not out of the ordinary this is something that should have been done in the beginning of the process and not at the end right before closing. Now, at the end of this review I may or may not receive the loan and the deal may fall through completely. If the deal falls through I will not have an apartment, will have to move with my two cats in with family, put all of my belongings in storage, pay an additional month of storage fees, hold off on delivery of furniture I had ordered, etc. Then I will have to start the process all over again either with this condo or another one. This will also result in commuting expenses while I wait to find a new place that are triple my commuting expenses now. I will never do business with ICG again and I urge everyone to stay far away from this company. Nothing is what it seems and they have no idea what they are doing. Despite what they say they are not quicker than everyone else to close mortgages. My experience with them has been a complete nightmare.