The Federal Savings Bank
Waste of Money
We have a VA loan, The Federal Savings Bank continuously sends mailers every week asking to take over the loan.
I have repeatedly asked to be removed from their spam list.
Sent mailers back to them and they finally stopped sending their sh *t.
Added my mother to title from a terminal illness and without a hiccup this pos bank started sending mailers again just because we added a family member to title at the county recorders office.
Waste is paper waste of money we are sending all the mailers back to their corporate HQ.
Negative reviews everywhere for them for now on. Everywhere
Is The Federal Savings Bank a legit?
The Federal Savings Bank is not running a legit business. They are not aggressive towards customer satisfaction and complaint grievance redressal, Hence 49 consumer[s] submitted negative ratings, and only a few left positive feedback.
Where is The Federal Savings Bank located?
The Federal Savings Bank is headquarted at 300 N Elizabeth St Ste 3E Chicago, IL 60607. You can contact The Federal Savings Bank by dialing (877) 788-3520 or visit their website thefederalsavingsbank.com.
How much monetary loss is incurred by The Federal Savings Bank’s customers?
According to The Federal Savings Bank’s customers, a monetary loss of US $1324 has been reported. The severity of entire incident reports is high.
Highly Recommend for Refinance
We refinanced our home with The Federal Savings Bank…What a Great Experience. No runarounds just the truth. Had been referred by a friend and glad we went with them. They were upfront with everything in the beginning and said what they would do and did what they said. They worked really hard, most everything was online, very easy. Great Rate with no hassle and a short start to finish. We closed, payoff in two days, we took out a little for home repairs that was deposited in two days, and can’t say enough how much I highly recommend. No Scams here or High cost for pulling out a little for repairs.
My loan estimate meant nothing
My loan officer was Anthony Alvarad. He made a nice loan estimate and swore by it. He strung me along till a few days before going to closing and changed the terms of my loan by over .25 percent and $100.00 per month in payments. He was very smug and indifferent about it. I am sure he does this to everyone. In fact he claims to have thick skin and doesn’t care how I feel about him or the situation. He will gaslight and speak to you in a way to make you think you are wrong for being upset.
Theives
They say they will help you and all they do is take money from account and then refuse to help. Larry Minefee is the worst of the group dont use him. He is a liar and a theive
Don't Trust Federal Savings Bank if you are a Veteran
If you’re a Veteran don’t do business with these scam artists. Made it sound like a simple way to refinance but soon snowballed into a big waste of time plus it cost me $675.00 for an appraisal. They then requested document after document that really didn’t make sense. Why would I send them my Living trust information. Financed with another company in 2016. Simple process. These idiots have no idea what they are doing.
Good
Bought a house through this company and I must say they did good by me I was very please with the short time that every thing was process
Even after closing I've had a few questions and have received answers and ongoing support.
Great working with Jonathan M. He was very helpful in answering all my questions promptly via email or phone. The whole process was handled online and they made it as easy and simple as possible. Even after closing I’ve had a few questions and have received answers and ongoing support.
David Gray was my go to throughout our VAL Loan process and he is wonderful!
David Gray was my go to throughout our VAL Loan process and he is wonderful! He was in contact with me about every step of the way. This is the second loan we have worked with David and he is very thorough. Thank you David and The Federal Savings Bank.
I've already referred a colleague who is also in the process of buying a house!
As a first time home buyer the entire process felt very daunting, but Tom Schweighardt was professional and helpful from day one. We got a great rate and closed on time with no issues. I’ve already referred a colleague who is also in the process of buying a house!
David Gray was my go to throughout our VAL Loan process and he is wonderful
David Gray was my go to throughout our VAL Loan process and he is wonderful! He was in contact with me about every step of the way. This is the second loan we have worked with David and he is very thorough. Thank you David and The Federal Savings Bank.
We closed as schedule as well, would definitely recommend them to someone else.
We had a great experience with them in refinancing our mortgage. Every step of the way i was aware of what was going on and what to do next. Everything went as planned and right on time. We closed as schedule as well, would definitely recommend them to someone else.
The experience was easy overall.
My experience with the lender was great. Kevin was great to work with. I found it a little uncomfortable doing all of this over the internet but in time I became comfortable with it.
I didn’t like sending confidential information over the internet though and I wish that all of the documents that had to be signed would have been highlighted or tagged with some sign here tape. The experience was easy overall.
I would use them again.
I see the reviews and they are either 1 or 5. We had good people working with us. E-mail and the phone was very on time. A lot of information required from us but very clear what they required. I would use them again.
I have not complaints.
I was able to get the closing date I needed and a lower interest rate than originally quoted for! My loan officer was willing to answer questions any time day or night. I was able to call his cell phone directly or text him and he would always respond promptly. I have not complaints.
Thanks again to Marquis and his crew at The Federal Savings Bank.
We found The Federal Savings Bank through Lending Tree which gave us three choices of lending institutions to use after deciding to refinance an existing VA Loan. Upon making our choice, we were immediately connected with Marquis Dobbs at The Federal Savings Bank who explained the entire process and what all he’d need to start the loan process.
Having been through this process more recently with our present lender at the time, we knew what to expect and I hate surprises. And Marquis and his team at The Federal Savings bank came through like champs.
They were very polite, not pushy, something our present lender was (and rude to boot) which was part of the reason we didn’t go with them even though they offered a better rate, Customer Service matters and the people at The Federal Savings Bank delivered.
As a Veteran, we’ve dealt with at least four different lenders in home buying or refinancing over the past 45 yrs. Without hesitation, I can say The Federal Savings Ban ranks at the top tier.
Now we just hope they don’t sell our new contract to some second or third tier lender which is what happened the last time around, hence leading to our contacting The Federal Savings Bank. Thanks again to Marquis and his crew at The Federal Savings Bank.
Do not use this bank. Most miserable experience of our lives.
Do not use this bank. Most miserable experience of our lives. Total lack of knowledge regarding our loan. Unprofessional. We incurred over 4 k of hotel expenses and almost lost our house. We ended up staying with them because we had no other choice given the time frame we were stuck with.