Beware of Fortune Financial and their sales techniques when it comes to locking a rate, quoting a refinance amount and confidentiality.
We did a refinance with this company and they are not on the up and up.
Staff including senior loan officers were incompetent in what information to obtain from us and when.
They even asked for information that they already had obtained creating numerous delays.
Would not submit our Settlement Statement, so we could review for errors, until the night before the closing.
Settlement Statement was of course wrong, because instead of listing the mortgage payoff amount Fortune Financial rounded our mortgage payoff amount to a higher amount.
We never asked for this to be done we were not looking to get cash out, only wanted to refinance our current mortgage to a lower rate, so now if we cancel the closing because of their error we lose our locked rate.
If this doesn’t make you avoid them then maybe this will.
DURING THE LOAN APPLICATION PROCESS THEY SENT US ANOTHER CLIENTS COMPLETE APPLICATION (40 PAGES +), IN ADDITION TO ANOTHER CLIENTS LOAN INFORMATION.
We brought this to their attention and they were not the least bit concerned.
In fact, we went as far as contacting the owner/manager and he could not understand why we were upset!
Their rates no matter how low or appealing are not worth the deception.
Also, make sure you check the Better Business Bureau before proceeding.