Our construction company has a business relationship with Mark S at Homestreet Bank Portland Home Loan Center.
Our construction company is fantastic, built us an amazing home.
This company and the broker is bad news. Homestreet seems like a good bank, but Mark still works for you.
The first day I went to his office the receptionist was working as a gatekeeper to keep an angry customer from seeing Mark.
He was saying he was not up front with this client. I thought maybe it was a misunderstanding and I would be able to determine the facts.
After several visits to the office and several phone calls the loan was slowly done.
Mark’s assistant is really good. Mark set a construction loan at 4.375 about .
50 over the market. Since it was temporary no big deal.
He sold us on a permanent loan at the same rate with a float down provision.
At one point the float down and the rate was 1.00 over the market.
I inquired of this and could not get a callback.
When I wanted to lock I called his office, since he works late he just emails at 10 pm.
Not helpful. He is unreachable, just try calling him.
As the loan came to a close and he continued to be unreachable I called his office and informed him, his assistant, at the conclusion of the construction loan, I would no longer be working with them and will seek permanent financing elsewhere.
I would be working with Chase as they offered a rate .50 under their lowest rate.
I was told that they would be willing to work with Chase to get us that rate….Why is this available now. Too Late.
The Chase financing went smooth, no issues, confusion, deception.
I have more details I could provide but Marks assistant is really good as is stuck covering his mess.
Mark proceeded to offer a loan that was in his best interest and the most profitable for him. My best interest was not considered.
Proceed at your own risk.