I was referred to Ricardo, the owner of feniks funding in Cerritos through a friend, they had done business before with refi's together and he had purchased cars from my friend working at a dealership. I reached out and told him that I wanted a refi on my current primary residence and was open to doing a refi on an old condo that I had if pricing made sense. I was urged to take money out on the low balance condo and did not want to do that and told his associate to move forward with my bigger loan and I might decide to refi the smaller condo but wanted to complete this specific loan 1st. After getting pricing which was good I was told that there would be no miscellaneous "b.s" fees by Ricardo, just the origination fee and standard fees that are necessary. After getting all the required info like tax statements, paystubs, home owners declarations and hoa info on the condo and whatever else needed I finally was at the point of appraisal and paid for it upfront as requested. After the appraisal the communication started to fall apart. I could not get a hold of anyone at this office including my referral and the other associate helping me (Devin P) Who I had spoken with throughout the whole process multiple times a week for probably 2 months or so. Finally after excuse after excuse I reached out to the only person there willing to help Amelia H. She assured me that all that was holding the process up was an error on the appraiser's side of things and it would be cleared up within a couple day's. Mind you at this point the reps at Feniks funding had been blaming the appraisal company for almost a month now and would not reply to my e mails, text or phone calls any longer. Finally after about another 2 weeks I had a blunt conversation with Ricardo and he stated that he was giving me such a good deal that he couldn't do just 1 loan and when he was told I was only doing 1 loan they let my lock expire, and apparently they were just afraid to tell me. At the time no one had told me my lock had expired and I was told I was just days away from signing final docs whenever I did get any response from anyone. I was furious at this point but tried to work with Ricardo to get a deal though rates had changed I wanted to just get this done because I was already over 3 months in at this time, already paid for the appraisal and rates had gone up and my loan was substantially higher at about 3.675% from when I bought the house. I am writing this review because I have never been jerked around and blatantly lied to like this. I am out the $450 for appraisal but just closed with loan depot with the same rates and substantially less fees and credits to offset my closing costs. savings in just fee's is almost $3,000 and it has been a great experience with loan depot. The way I got jerked around by Ricardo I wouldn't wish this on my worst enemy. When I was shopping for another lender he e mailed and text me out of the blue saying ok, we are ready with final docs. At the time it had been almost 5 months and all the figures changed on the new Le and were substantially higher than the fees others lenders where quoting me, including the initial fees they had promised me. Rates may change however fee's dont. My main motivation for this review which I will be posting wherever else I can is because I was jerked around for over 5 months, with them wasting my time and losing $450. My goal is to save as many people as I can from making the mistake I did and trusting them with my refi and personal information, do yourself a favor. Save time and money and go elsewhere. Do not give these unethical people your business. I can blow off the $450 they cost me but it's the time and stress that bothers me most. Please again do yourself a favor. Take your business elsewhere. read more
