Ethos Lending

They Have Unprofessional, Rude People

Terrible! Don’t use Ethos Lending. Waste of time. They use kairos appraisers who are a bunch of crooks. They have unprofessional, rude people working for them.

My appraiser was arrogant, unprofessional and incompetent.

I live in NJ and the real estate market in my town has been increasing for a few years now.

My appraisal came in 150,000-200,000 lower than the Comps in my area and what Zillow,

House values and real estate agents value my house at. Even my house value according to my taxes from 2 years ago is 100,000 more than what my house was appraised at.

The appraiser walked around my house making rude comments about my dog who was on a leash and told my 10 year old daughter to get off xbox and play outside.

Unfortunately I’m out $500, lost a loan and the only phone call I received from agora was a whiny sorry nothing else I can do.

Agora does not care about their potential customers and did not make this an easy process.

Wasted my time and my money.

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17 reviews on Ethos Lending

  1. Never imagined this would happen in mortgage lending.

    I was dealing with Randy Fahilga for refinance of my home. He has problems communications from the beginning. They ordered the appraisal and it was appraised low. I asked him if there were any options and never heard back.

    Never imagined this would happen in mortgage lending. Then reached out to mortgage processor, and not response. Then one of the supervisors with last name Fox and its been 2 days and have not heard back. What a company!!

  2. Don't waste your to call their support line for anything.

    All, please review your ESCROW payments they are known to charge extra for no reason and hold more than legally allowed. If there a lawyer out there looking for a case please look at Ethos books. When I called few times for the support line to understand their escrow calculation,

    they don’t understand how escrow works. But they told me, i will get an answer cases opened few time but no reply. whoever works there must be from drop out from elementary school. I will try to contact few lawyers and see what they can do for me and others. Don’t waste your to call their support line for anything.

  3. Clearly they have more money than brains or sense.

    The negative reviews here are spot on. Terrible lender. I am about as qualified a borrower as they can expect. LTV is 25%, (far) more liquid assets in my accounts than I am borrowing, and fully documented annual income at 80% of total loan value. Any more qualified and I wouldn’t need to borrow money. In fact, I don’t.

    Yet, I get a constant parade of inane questions and belated document requests “from underwriters” none of which provides them any meaningful information. In the meantime their estimated closing payment more than doubles because they want to escrow all of this year’s, and next year’s property taxes and property insurance premiums IN ADDITION to requiring monthly payments into escrow for the same sums.

    Never mind that I have never missed a loan payment, or property tax payment for 25 years. They are treating me as if is my first loan, at 80% LTV, and I have only 3 mos savings in the bank. The stupidity of their underwriters is breathtaking.

    I sense that these are the same underwriters who 10 years ago were making loans to undocumented borrowers, at 95% LTV with 3 months of savings in the bank and an annual income at 5% of the loan value. The rate improvement I got by going with these guys at the time I locked are not worth the hassle of borrowing from this brain dead lender. Clearly they have more money than brains or sense.

  4. My broker used ethos for a jumbo loan.

    My broker used ethos for a jumbo loan. After two missed closing dates and more random conditions we switched lenders and closed the loan in 14 days.

  5. I take no pleasure in trashing a company but know that you have been warned!

    Run, run away while you can! I have taken out many, many mortgages over last few decades and I have never experienced such incompetence. Delays, lost docs, more delays, redundant requests for docs that they already received or need again because they took too long to process the loan. We closed (finally) a month ago.

    They are STILL requesting docs from me. The latest was for confirmation of insurance coverage of another rental we have. After days of going back and forth with Ethos and the insurance agent they finally got what they requested and it turned out that the agent had sent the same doc to them months ago! BTW, this is my first online review. I take no pleasure in trashing a company but know that you have been warned!

  6. Horrible

    Horrible, that pretty much sums up my experience with Ethos Lending. It took over 2.5 months to refinance my house. During the process the only way I could find out the status of my loan was to call them. The only time I heard from them is when they needed additional paperwork which quite often was information I had already provided them.

    They strung me along, never knowing where I was in the process. When they finally sent the papers for the final closing the rates they had originally quoted me increased considerably.

    I fought with them to get the costs down, I managed to get some of the costs reduced but when the Notary showed up, they had added additional costs and had the wrong address on the paperwork.

  7. NEVER AGAIN!! My advice to you is avoid this lender.

    I had to send the Notary away. Spoke with them on the phone, they corrected the paperwork but refused to lower and of the costs associated with the loan but I did get them to roll some of the costs into my escrow. This was the most frustrating and infuriating loan I have ever had,

    I was too far into it to cancel and go with another lender, I finally gave in and signed the paperwork. NEVER AGAIN!! My advice to you is avoid this lender.

  8. Worst company.

    Have been working with ethos lending, they ask for the same docs again and again. Loan officers are really knowledgeable, but did not communicate to realtor or title company about delay. Had to extend the contract for a week, and due to negligence of ethos,

    the contract period ended. Seller wanted me to pay interest, hoa for extending contract. Still have not received the cost disclosure, ZERO confidence that we will close the loan even after extending. Loan officer do not take calls anymore, and let it go to answering machine. Worst company.

  9. It will end in heartache, trust me.

    A wonderful combination of ineptitude, indifference and incompetence. Just how bad my experience has been would be hard to explain in a few lines. Suffice it to say that my closing was supposed to happen yesterday, and now I am told tomorrow,

    but as of this writing I don’t yet have a final closing amount as the people at Ethos keep making mistakes on the documents. And they had two months to make this happen!

    I feel cheated and taken advantage of, and of course poorer, as at each juncture somehow the amount I had to bring to the closing kept increasing. I strongly suggest that you avoid this company no matter how favourable you think their rates are. It will end in heartache, trust me.

  10. I would definitely tell my loan agent to avoid this lender the next time I refinance my other properties.

    I did my refinance with Ethos a while ago on my primary property. Even though their rates were good but their service was super bad. They keep asking me for more and more documents. I eventually had to extend my loan for another 10 days.

    Even when the loan was clear to close, it was chosen to be in quality control, and then 2 more conditions came out after that!!! I was so exhausted and tired by the end of the loan that I just want to quit on my refinance. I would definitely tell my loan agent to avoid this lender the next time I refinance my other properties.

  11. Would not recommend at all.

    We have been attempting to refinance with them for more than three months but they keep delaying closing more than three times now. First we had a problem with the appraisal which is done by a company they own some or all of.

    They valued our home using comps from a year ago and it was valued $60,000 + under another appraisal we had done eight months ago. We provided them with accurate comps but they rejected it and charged an extra $111 dollars a month for mortgage insurance because of the value. They are constantly asking for more docs or explanations.

    They will say the file is good but change their minds and require more docs. One was for a credit card that pulled our credit but we don’t know why and no new debit was incurred but that explanation wasn’t good enough.

    Also, they aren’t familiar with subcontractors or business owners’ because they keep requiring balance sheets or other docs that don’t apply or even make sense. Would not recommend at all.

  12. They made what should have been an exciting time in my life a nightmare.

    This was my third mortgage in just my name with different lenders and I have to say it was the worst experience I have ever had. I was asked for the same pieces of information over and over again. In the eleventh hour I had to get a legal document.

    Only a notarized agreement was necessary but they pushed for it to go through the courts. Completely unnecessary, costly and time consuming. We were 2wks from settlement. My broker had to intervene in person. Then a week out we started to get rumblings about not being able to settle on time.

    Three days before they pushed the closing to the next day. Not the end of the world except that I was settling on my old house the same day and had to be out that morning.

    The next day it pushed again only now we were in the weekend. So now I had to find a place to live for four days with my daughter and a dog. Surprise, surprise the date for settlement kept getting pushed and ultimately after eight days and moving 3x we finally went to settlement.

    The stress was off the charts. I had deliveries that had to keep getting rescheduled. My mail was delivered there as I had changed my address but couldn’t get any of it b/c I didn’t own the property so I didn’t have a mailbox key.
    I will never use them again and would never recommend them. They made what should have been an exciting time in my life a nightmare.

  13. This company is horrible!!

    This company is horrible!!!!!!!they made sure our rate lock expired even though all the documents were provided to them weeks before the original closing date. As a result, they assessed us extension fee of $500. Based on other reviews, it is a common practice for this company.

    At this point, we either have to lose our appraisal fee or pay extension fee. We still did not get any final numbers even though settlement was supposed to be 3 days ago. STAY AWAY from ETHOS!!! This company has no professional ethics or integrity,

  14. If zero stars were an option I would unhesitatingly give them that.

    If zero stars were an option I would unhesitatingly give them that. Not only was everything a certifiable fiasco, they took forever, and they asked for the most rediculous things.

    And the garnish that put it all together is that the people were utterly rude every single time we called trying, no begging, to get our loan done. I will never use them again and would encourage everyone else to do the same.

  15. What a waste of time. And what a bunch of idiots.

    Started a loan application in November, was approved, then they asked for more and more information, some of which was really off the wall. After three months, they decided to reject the application. What a waste of time. And what a bunch of idiots.

  16. We will NEVER EVER do any loan or refinancing with Ethos Lending.

    They retracted the loan preapproval a few days before closing escrow for the reason that they did not believe that we will move into the house that we were buying. They wanted to offer us instead an investment loan with much higher interest rate and downpayment.

    This was very inconvenient to us since we had to find a different lender and we had to delay the closing of the escrow. We will NEVER EVER do any loan or refinancing with Ethos Lending. We also lost about $500 for the appraisal that we paid for this lender.

  17. stay away.

    Our story is pretty much the same as everyone else’s that you read here. Bought into a really good interest rate and low fees only to find that Ethos would keep throwing up delays and excuses until the lock ran out. They charged us to lock the rate for 45 days and then made sure we could not close within that window of time…

    so they pocket the fees and then offer to close at a higher rate. It feels like I really got scammed. Either they lied, or my broker lied, regarding the appraisal fees because the appraiser showed up and told me what he was charging and they were charging 50% more than the appraisal was actually quoted.

    If you read the reviews and multiply the fees and upcharges by the number of loan applications they get, they probably don’t even need to underwrite any loans as they probably make a killing on fees they get to keep for not writing the loan. My opinion, stay away.

Kearny Street 222
San Francisco 94108 CA US
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Reported Loss :4332 $
Severity of Scam :Medium
Reported by : Anonymous
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