The Federal Savings Bank

Waste of Money

We have a VA loan, The Federal Savings Bank continuously sends mailers every week asking to take over the loan.

I have repeatedly asked to be removed from their spam list.

Sent mailers back to them and they finally stopped sending their sh *t.

Added my mother to title from a terminal illness and without a hiccup this pos bank started sending mailers again just because we added a family member to title at the county recorders office.

Waste is paper waste of money we are sending all the mailers back to their corporate HQ.

Negative reviews everywhere for them for now on. Everywhere

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11 reviews on The Federal Savings Bank

  1. Obviously some people should not work in customer service.

    Yousuf Shah the mortgage banker, which I was talking to was pressuring me in why I didn’t want to close that same day without looking at his numbers. So we finally agreed on the next day to talk,

    no one called me at the appointed time so I went with the next nicer and kinder mortgage banker. Two days later he called and I said I went with another lender and I said thanks … he called me a$$hole to end our conversation.

  2. Please look at my BBB review for details.

    The worst bank!!!! The worst Loan Officer, Alan Mathoslah, who has 20 years of experience but does not know how to calculate DTI’s before submitting files and wasting his clients time. If you are considering this lender, please re-consider unless you have time and money to waste. Please look at my BBB review for details.

  3. They will waste your time.

    Stay away at all costs. Predatory lending practices. They do not have your best interests in mind. They only want to make money at your expense. They cannot deliver what they promise. They will waste your time.

  4. DO NOT USE THIS BANK!

    WORST EXPERIENCE EVER. LIARS LIARS LIARS!!!!! I would give a negative star if I could. I was lied to from the first phone call. Against my instinct I went forward with the process and every step of the way what I was told from the beginning was not what it was. In some circumstances I understand, but we were told we could expect about 15k back from our equity. In the end we got $0.53.

    That’s right 53 cents. to be off by 15K is to unacceptable. Then after that there no discussion about another issue and in the end I had no choice. They had funded the loan and if I retracted it I would be 2 months behind on my mortgage.

    I will get out of this loan at the first opportunity I can. I have filed a better business Bureau report. I will also ensure that everyone I know get the word they are LIARS and will talk down to you when you catch them in the lie. DO NOT USE THIS BANK!

  5. How can you trust a company when the first they do it lie

    How can you trust a company when the first they do it lie… Total deceitful methods in their advertising and also are in the habit of violating the law since I legally removed myself from Prescreened Credit and Insurance Offers thru the Federal Trade Commission. Plus they prey on Veterans – they are the worst form of low.

  6. Stay away at all costs.

    Stay away at all costs. They cannot deliver what they promise and are very disorganized. Not worth the hassle.

  7. This is a dishonest business.

    This is a dishonest business. They send me official looking notices telling me that my current equity line may be reaching its maturity. My equity line is with another institution so this is a scam to get me to call them. I would never do business with an organization that demonstrates its ethics in this manner.

  8. Couldn't have asked for a better loan officer and bank!

    I had a loan officer that made the whole process of refinancing/streamlining our VA loan as easy as 1,2,3. His name was Tom Franch and I highly recommend him!

    I could call him or email him and ask questions anytime, including weekends AND…he was prompt to answer them. This loan officer deserves an “outstanding” raise! Couldn’t have asked for a better loan officer and bank!

  9. Do your research and LOOK FOR ANOTHER COMPANY!

    Unprofessional and untrustworthy. Horribly disappointed with the mortgage loan experience. Do your research and LOOK FOR ANOTHER COMPANY!

  10. we were just informed we'd have to PAY to get a HIGHER interest rate.

    Another month and a half gone, and the closing is nowhere in sight. AND, we were just informed we’d have to PAY to get a HIGHER interest rate.

    Avoid them like the plague! OR, check other reviews both here and on other websites before you decide to give them your business.

  11. Beyond slow. Does not follow on promises.

    Beyond slow. Does not follow on promises. “In two weeks” turns into another “in about two more weeks”, “on Monday” means “as late in the week as you allow me to slide until you call again, frustrated.” “Next week” turns into….well, you know. Had I not wasted almost FOUR months of my life on this sorry bank,

    I would’ve taken my business elsewhere. Since the loan has YET to close, that may still happen. AVOID!!!!!!!!!!!!! They are as courteous as they can be, but lie lie lie. Even my loan officer bailed on them before the loan closed. What does THAT tell you. Don’t. Give.

North Elizabeth Street 300
Chicago 60607 IL US
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Reviews: 11
Reported Loss : 1324 $
Severity of Scam : High
Reported by : Anonymous
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