The company agent Kyle Ellerbrock quoted 3% refinance for my investment property in Maryland in the last week of April 2013. I specifically asked him if the no closing cost means that the closing cost will be bundled into the loan amount since I had heard many horror stories. He mentioned that it will not happen because as a Costco member he has a great deal where the lender provided discount will take care of the closing costs as well as appraisal. He sent me a good faith estimate and I pointed to charges of $2000 and he apologized and agreed to send a corrected version. However, in the mean time he left the company (the turnover in this company seems to be high) and Mr. Paul Dover took over. I repeated my conditions with him and he mentioned that if Kyle had agreed to no closing cost, the company will honor it. He asked to review the tape and then he let me know there will be no charges. However, as the deal went further on, Paul mentioned that Kyle made mistake and the company will not pay $2000. In the mean time, the interest rate had shot high up, so I had no alternative than to go ahead with the deal. I was provided GFE/ HUD 1 on the last day and I discovered I am paying further $2000 which has been bundled into the loan amount. In total I paid $4000 as closing cost, which needs to be refunded. I informed the company manager Mr. Matt Drexler about this situation but he took no action. I complained on BBB and the company said it will pay appraisal fee back, which it did not.
Bottom line: The company agent Kyle Ellerbrock quoted no closing cost for refinance. However, the company dishonestly bundled $4000 closing cost in the refi amount at the end. Never do a business with this company- no one should face the ordeal as I have gone through.
The issues with this company are numerous. I applied thru Lending Tree and this was one of the lenders that contacted me. The loan officer was very pleasant and I was pre-approved for a refinance immediately. Then the issues started.
All the disclosures showed the appraisal fee would be $395 yet they charged me $445 - no response to a request for a refund of the difference.
I was forced to close 4 credit accounts in order to get my loan approved - because I had a whopping balance of $6.00 on one and $16.21 on another and they were calculating that as a monthly bill when it clearly was not a monthly bill. he other 2 accounts I had paid in full before applying. I knew closing the accounts would lower my score since it would cause my credit utilization to go up but was told I had no choice.
I was very clear from the beginning that I had to close and fund before the end of the month due to having an FHA loan and was told it could be done. When it came down to it, I was repeatedly told that my loan wasn't a priority for closing because I wasn't a purchase so it cost me an additional $575 in interest to close late. As a result I was told I wouldn't have a payment until Sept 1st - at closing on a Monday evening - surprise! My first payment was due 3 weeks after funding. As a result I was told I would be refunded the appraisal fee - that was a week ago and haven't seen it yet. No reason a refund to my atm card should take 7-10 days - ever.
The lack of response to emails and phone calls was very unprofessional. The website claims they are so fast as a result of their technology but if your people don't review the loan documentation in a timely manner what difference does it make?
Overall I was very disappointed with this company and would never recommend them to ANYONE or use them for any future financing needs.
Wyndham Capital Mortgage Inc Reviews
The company agent Kyle Ellerbrock quoted 3% refinance for my investment property in Maryland in the last week of April 2013. I specifically asked him if the no closing cost means that the closing cost will be bundled into the loan amount since I had heard many horror stories. He mentioned that it will not happen because as a Costco member he has a great deal where the lender provided discount will take care of the closing costs as well as appraisal. He sent me a good faith estimate and I pointed to charges of $2000 and he apologized and agreed to send a corrected version. However, in the mean time he left the company (the turnover in this company seems to be high) and Mr. Paul Dover took over. I repeated my conditions with him and he mentioned that if Kyle had agreed to no closing cost, the company will honor it. He asked to review the tape and then he let me know there will be no charges. However, as the deal went further on, Paul mentioned that Kyle made mistake and the company will not pay $2000. In the mean time, the interest rate had shot high up, so I had no alternative than to go ahead with the deal. I was provided GFE/ HUD 1 on the last day and I discovered I am paying further $2000 which has been bundled into the loan amount. In total I paid $4000 as closing cost, which needs to be refunded. I informed the company manager Mr. Matt Drexler about this situation but he took no action. I complained on BBB and the company said it will pay appraisal fee back, which it did not.
Bottom line: The company agent Kyle Ellerbrock quoted no closing cost for refinance. However, the company dishonestly bundled $4000 closing cost in the refi amount at the end. Never do a business with this company- no one should face the ordeal as I have gone through.
Maryland Homeoner Germantown Maryland
The issues with this company are numerous. I applied thru Lending Tree and this was one of the lenders that contacted me. The loan officer was very pleasant and I was pre-approved for a refinance immediately. Then the issues started.
All the disclosures showed the appraisal fee would be $395 yet they charged me $445 - no response to a request for a refund of the difference.
I was forced to close 4 credit accounts in order to get my loan approved - because I had a whopping balance of $6.00 on one and $16.21 on another and they were calculating that as a monthly bill when it clearly was not a monthly bill. he other 2 accounts I had paid in full before applying. I knew closing the accounts would lower my score since it would cause my credit utilization to go up but was told I had no choice.
I was very clear from the beginning that I had to close and fund before the end of the month due to having an FHA loan and was told it could be done. When it came down to it, I was repeatedly told that my loan wasn't a priority for closing because I wasn't a purchase so it cost me an additional $575 in interest to close late. As a result I was told I wouldn't have a payment until Sept 1st - at closing on a Monday evening - surprise! My first payment was due 3 weeks after funding. As a result I was told I would be refunded the appraisal fee - that was a week ago and haven't seen it yet. No reason a refund to my atm card should take 7-10 days - ever.
The lack of response to emails and phone calls was very unprofessional. The website claims they are so fast as a result of their technology but if your people don't review the loan documentation in a timely manner what difference does it make?
Overall I was very disappointed with this company and would never recommend them to ANYONE or use them for any future financing needs.