Worst mortgage experience EVER!! Buyer beware...
They will give any Tom, Dick and Harry a mortgage license...
Jon, Anthony and Greg's lack of mortgage rules/laws is astonishing. This branch is the definition of tell you what you want to hear to get your business!
After receiving written pre-approval, approval, mortgage commitment, and a emailed copy of the final CD... We were told 48 hrs prior to closing that we couldn't close and had to completely restructure our mortgage from a jumbo to a conventional loan (making us go from 20% out of pocket to 40%). There reason was because they interpreted a law/rule for a self employed vs W2 employee one way and redwood trust (jumbo loan backer) said that is not how the rule is interpreted and denied the loan. How this came up at the 11th hour blows my mind, this was discussed on day one prior to even filling out an application because it was a concern but we were assured this wasn't going to be an issue.
I'm sure they will spin this but I have all this in writing as well as backup. So in order to not be homeless with a wife, and two kids under 3 we did what we had to do to not lose the house.
When speaking with Jon branch manger who by the way never reached out to me, I had to go online and find his phone number and call
Myself, I was told: this is the first I'm hearing about this now and will do some research while at the same time he told me they have 100 mortgages going at once so he doesn't know everyone of the top of his head...That to me says: your just a number and we don't care. Considering this is a HUGE F*** up on they side.
During a pandemic and finical uncertain time to have to generate this amount of money is extremely unsettling. If I were you I would pull my mortgage application and go in a different direction, just a matter of time before they do this again and completely ruin someone's life.
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