Cedar Mortgage

Customer Service

Note: this is a mortgage company called Cedar Mortgage Company with address is in 1670 Hillsdale Ave B, San Jose, CA 95124.

This is a private company owned by Daniel Burke.

At the beginning, this person spoke nicely so I decided to use his service.

I got the good faith estimate (GFE) toward the closing cost.

The YSP (Yield Spread Premium) was $ 500 in the GFE.

Finally we got the loan through him but the YSP became more than $3000.

My understanding is The YSP is the money left on the table that the mortgage broker will put it into his/her pocket.

So I call him to get explanation about why the YSP became that high (more than 500% from the GFE).

Mr. Burke showed who he trully is by became angry at me (accused me wanted the money) and hung up the phone on me.

I felt very dissapointed because I paid his service and this was I got from him.

Never ever hang up on the client who paid for the service.

Client has rights to know what’s going on.

Will stay away from this company and Mr. Burke.

Is Cedar Mortgage legit?
Cedar Mortgage is not a legit business owner or provider. They are not aggressive towards their customer satisfaction and complaint grievance, and hence 1 consumer(s) was/were given a Cedar Mortgage as a negative rating, and only a few left positive feedbacks.
Where is Cedar Mortgage located?
Cedar Mortgage is headquarted at 3190 S Bascom Ave Ste 110 San Jose, CA 95124. We do not have any affiliation with the better business bureau or yelp reviews platform. You can contact Cedar Mortgage by dialing (408) 879-9011 or visit their website cedarmortgage.com.
How much monetary loss is incurred by Cedar Mortgage’s customers?
According to the reviews posted by Cedar Mortgage’s customers, US $3266 was the total loss incurred, and hence the severity of the scam is medium.

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1 Review on Cedar Mortgage

  1. We were apprehensive as the lending market isn't always the easiest when your down payment isn't as high.

    Amazing experience as a home buyer working with Cedar Mortage! In late January my fiance and I found a beautiful home that we wished to purchase. We were apprehensive as the lending market isn’t always the easiest when your down payment isn’t as high.

    Our realtor recommended Hamid from Cedar Mortgage and encouraged us to give it a shot as Hamid was able to help in another similar situation. We worked with Hamid and in less than a month not only was Hamid able to find us a lender but also was able to pull the loan (FHA) and close the deal with an amazing rate!

    If you’re looking for a great broker who can get things done right and fast, and do so with no pain or hassle then Hamid and Cedar Mortgage is your solution!

Reported Loss :3266 $
Severity of Scam :Medium
Reported by : Anonymous
Views :