Not resolved
2 comments

Since I’ve joined the real estate industry in 1998 I have work with many loan officers. Some excellent and some ok, but never came across such an incompetent loan officer like Lucas of this financial institution.

An attorney referred him to my customer, who was interested in purchasing a bank owned property. One of my staff and the customer asked the loan officer if his organization offers 203k (construction loan) and he responded yes. He later inspected the property and thought 203k loan is not needed. After dragging things out for almost 3 months, which includes 2 extensions, the bank finally scheduled an appraisal one week prior to the closing deadline and decided they can’t close the loan, because the utilities are turned off and it’s too late to do anything to save the transaction.

My customer lost an excellent deal, which he and his family was planning to move in to for the holidays. This bank caused a lot of stress and frustration to all parties involve.

Obviously the loan officer didn’t know what he was doing. I will never recommend or deal with this bank again.

Monetary Loss: $7350.

Do You Have Something To Say ?
Write a review

Comments

You will be automatically registered on our site. Username and password will be sent to you via email.
Post Comment
Anonymous
Queens Village, New York, United States #747082

I've read a few comments about Flagstar Bank and I have to admit, this bank makes me sick to the stomach. I refuse to spend more time and energy to read anymore comments.

I'm done. Last but not least...This bank should not be in business and consumers that lost money through this bank, should get it bank.

Anonymous
Columbus, Ohio, United States #746921

100% agree! This is the worst bank in Michigan.

The customer service is awful! Phone calls are returned days later or none at all.

When you do finally talk to a live person, they are rude or tell you they will need to call you back which never happens. As a mid size broker, we have stopped sending our loans to them!

You May Also Like