GSF Mortgage

Not impressed with GSF Mortgage – they have had a file since May and are failing to close on time.

Calls to them have been screened and there is “no one else I can speak to” – previous contact said waiting for 1 item to clear in underwriting and would close on time – follow up later said – “no – the file is in line with the underwriter to clear that 1 condition” .. who knows when that will happen and there is a 5 day wait once it gets sent to USDA. Very unprofessional.

I was told that a COO or President would be contacting me back.

That follow up did not happen.

Since my original inquiry on the file, the updates have been slow (contact them on Monday and they respond on Wednesday) and the file has still not been sent to USDA.

This is the least sense of urgency of any lending company I have dealt with.

Even at crunch time there is no increase in focus on the file. No ownership – lack of communication.

Apparent lack of follow up – poor file review – I guess they don’t know what the underwriter is going to ask for and it is customary for the file to be sent to underwriting review multiple times – each with a 48 hour review time.

I am guessing they do not have their own underwriters and are at the mercy of some 3rd party to do their underwriting. – This is a horrible experience.

Have you ever been in a parking lot waiting to back out of your parking stall? Do you know how you feel when a pedestrian is walking behind you and you are stuck.

Most pedestrians realize that you are waiting on them so they put a little pep in their step for the appropriate period of time.

You really don’t mind waiting for those people because there is a shared sense of cooperation.

And how do you feel when the people walking behind your car walk slower or take the longest route possible when they see that you are waiting on them?

It is frustrating because they clearly know that you are imprisoned in this parking space until they move.

You are at their mercy and they clearly do not care about your goals.This is how I feel working with GSF.

They know they are holding up multiple closings on a stacked (domino) closing and yet their process has become even slower.

I wouldn’t use them for any file where you feel like your buyers would want to close on time.

I wouldn’t let a buyer use them on any house you have listed just to protect your seller from this mess.