Well, we got a home loan… that’s where the positive ends and justification for one star, though zero stars isn’t an option.
Being first time homebuyers, Catalyst Lending Corporate was recommended to us by an agent and everything that Julie Marquis and Steve Perez told us pointed to a fairly easy process.
With 45 days to closing we came to count on a late afternoon phone call every two or three days with a request for additional documentation which always seemed as though it had been missed
An increase in the cash to close based on “new” calculations, or some other hoop that we had to jump through.
For the last ten days prior to the closing we had to reach out to Steve or Julie for updates and consistently got conflicting information about what was actually happening, what was needed from us, and whether we were going to be able to close on time.
They routinely blamed HUD, the builder, and the seller’s agent for issues that should have been handled proactively and were instead left for the last minute.
The kicker was the evening before our 9am closing Julie called to tell us that we needed to bring an additional $3k to closing.
When we told her we didn’t have that money she replied “we have your bank statements, we know you have it.”
At this point we told her she could communicate only with our agent moving forward.
Our agent, in dealing with Julie, was told that Catalyst knew we had the money and if spending it to close meant we’d have to go without gas or groceries that she’d give us a King Soopers gift card.
Yes, this was actually her suggestion.
On top of this, when we did iron out the details of the additional cash to close, Catalyst was late to actually fund the loan and delayed our closing by almost two hours.
The seller walked away only to have to come back and you can imagine the stress this created.
If you’re looking for a mortgage brokerage who employs hapless, insulting, and rude staff; will require you to manage a very complex process from start to finish
Treats their customers as a commodity rather than human beings; and turn what should be a milestone into a nightmare you should definitely work with Catalyst Lending.
For anyone who desires a different experience run as fast as you can in a another direction.