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Francis Colonial Mortgage


Country United States
State Texas
City Fort Worth
Address 5112 GOLDEN LN
Phone (682) 224-9517
Website http://franciscolonialmortgage.com/

Francis Colonial Mortgage Reviews

  • Oct 14, 2019

Understaffed and unresponsive

Run, don't walk away. He held the seller in escrow for eight weeks promising he could close a loan and he never closed. On the lender letter he provided he entered his phone number wrong - off by one digit. Does this speak to his level of professionalism and accuracy? You find yourself calling constantly for updates and it doesn't just go to voicemail - it says the voicemail is full. There's no office line and as far as I can tell and no supporting staff. He goes radio silent for a week at a time and you are left wondering do you terminate the contract? Do you hang on hoping he can close the loan? If I could list a negative number of stars I would. He needs to be shut down.

  • Aug 29, 2019

DO NOT DO BUSINESS YOUR WERE WARNED

DO NOT do business with this shady unethical brokerage. If you have landed on this page THERE IS A REASON. Please pay attention to all the red flags.

1. They will not tell you their upfront fees after I have asked several times

2. They issue fake pre approval letters with out filling out an application

3. When asking questions, they are selective on which question they will answer

4. All they care about is how the closing cost will be paid because of course that’s how they get paid

5. Google them, no reviews or only bad reviews; also the name of the company changed ( I wonder why)

Here’s my story…

Where do I start… My loan originator was Kimberley Greene NMLS# 217916 [email protected] 972-621-1496 (contact information to confirm the person). DONT LET HER SOUTHERN BELLE SOFT PERSONALITY FOOL YOU.

I spoke with Kim about 2 months prior to having her pull my credit report. I was upfront honest and fully transparent about my financial, income, asset, downpayment situation, and she assured me that she had a program available. I re-asked those questions a few times prior to ensure because other lenders indicated that there were no such programs available for my situation.

I gave Kim permission to pull my credit and she confirmed once again that she had a program available. I then created a binder which had all of my required documents and hand delivered her my information. She states that I would have to sign a disclosure form and fill out an application etc and she would send me the documents before I left for vacation. That never happened. In fact, she emailed me my (FAKE) pre-approval letter 2 weeks later. She told me I can go out and find a lot and a builder.

**I was so excited told my mother, my boyfriend, and my daughter.

I went searching for 2 weeks for a lot and builder; wasted my gas, time, and money. I was very stressed. Through out my search Kim and I were in constant communication so she was very aware of my every move. Then she told me I needed a buyers agent and referred me to Derick Townsend. I told her that name sounded very familiar and she never mentioned that he was the actually owner of Francis Colonial Mortgage. So I decided to google his name and sure enough I see that he was the owner. I contacted Derick and briefly spoke to him and he was suppose to be my buyers agent but then never heard from him again.

Then I finally found the perfect lot and builder. I told Kim this and now I wanted to know the terms of the loan and what are the fees once again. Kim was very vague about the fees estimating around 3-6%, which im sure it was on the higher end of 6%. She states that my interest rate would increase by 2% and I could not refinance after 5 years. I told her I do not agree to those terms and requested to negotiate it down to 1% or find another lender/program she said okay she would. Then 2 days later she states that the programs have changed and no program are available and It is impossible to get the program I wanted with my situation.

After thinking back about the whole situation from start to finish I believe this company tried to play me from the beginning. ALL the red flags were there but I really wanted this home so I ignored them. I felt so embarrassed to tell my family and my daughter who came with me and the builders who I spoke with that the loan fell through. So I felt like I was driving around town with a fake preapproval letter looking stupid.

I requested my binder with all of my information back from Kim. I drove 40 mins to meet her at a hair salon. I had to walk in the salon, as soon as I arrived the ladies were smirking and I am sure Kim told them something about the situation, which is embarrassing.

PS I made sure to tell the person who referred me to her not to refer anyone else to save their reputation.

The blessing in all of this is; after telling my boyfriend this and crying, he proposed to me the next day and told me to get my binder back from Kim and now we are going with a different (Actual lender) to build our dream home.

I BELIEVE IN KARMA!

  • Jun 27, 2019

Service

I take it there are some bad experiences, from time to time, but these guys delivered the goods, as advertised, Also, in addition, the company does pay 2.75 BPS along with solid pricing as well. The only way I can see compensation changing if it impacted the loan due to pricing, rate extensions, etc.

I like my odds with them.

  • Mar 22, 2019

This guys runs a mortgage company out of his bedroom. He gets you to work for his highly unorganized and dysfunction company by telling you he pays 2.75% and he pays the day of closing which is a complete lie.

He calls lenders and tells them to remove files out of your name, lies to you tells you he is sending a CDA to the title company that never happens, changes your compensation the day of closing after he enters the fees into the lenders system incorrecty and the files wont pass the high price mortgage test and lies and says a "ghost" or the "processor" changed your compensation to ZERO or very close to ZERO after he promised 2.75%.

He denies any responsiblity then say his non existent lawyer says he was told to cease all contact.

He cost clients thousands by not ordering appraisals, overcharging their credit card for appraisals and bait and switching clients loans programs...causing several unnecessary expenses and loans the close 2 months later

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