We submitted an application for a refinance. We applied for a rate of 3.375% on a 15-year fixed with over $1000 in credits after all closing costs.
After spending all day scrambling to get all source documentation to our loan officer (Sherry) and being assured that our loan would be processed quickly so we could lock the rate, we were then told (AFTER a hard pull was done on our credit) that not only was the rate not available but that the 15-year fixed product wasn’t available at all.
Instead, they offered us a 30-year fixed at 4% with nearly $1000 in COSTS. Keep in mind that, the day before, we were quoted a 30-year fixed at 4% with close to $2500 in CREDITS.
This company toots their own horn for their technologically advanced system that makes it clear cut from the start what costs will be by including lender AND third party fees, but all they did was lie, screw up our credit score, and ultimately not deliver on what they promised.
Absolutely unethical. Sure, Sherry did stay up late trying to process our loan, but at the end of the day, she was unable to make things right for us and her follow up was EXTREMELY slow.
I had to follow up multiple times just to get a hold of her.
Additionally, she told me the lender who was supposed to service the loan had there not been an error was supposed to reach out to me.
4 days later and I still haven’t heard from them… nor do I want to at this point.
I don’t have time to wait days for a response, so we just went with another lender who wasn’t as shady and I’m glad we did because rates have jumped back up since then.