So, 5 weeks into the process (perfect credit, all necessary docs received, closing scheduled) they ask me to sign a closing disclosure. When I read it, it has the wrong loan amount, wrong payment, etc. I asked them to correct it before I signed.
They honestly told me that I needed to sign incorrect documents before they could correct them! Literally, the VP of Closing told me that in order for her to be "in compliance", I had to sign documents that were not accurate. She said that the docs were just an estimate and not the final.
When I told her that I would not legally sign a document knowing that it is wrong, she said they would have to start the entire loan process over. I mean, if the docs are that "unimportant", why does the entire loan hinge on my signature of wrong documents? Something is not right here.
BORROWER BEWARE. I canceled the entire loan process after having to come out of pocket $600 for an appraisal and I haven't got the survey bill yet.... Not to mention the people were rude, they never communicated with each other so any new person involved would have to be backfilled on all aspects of the loan.
I don't know, maybe they can help in difficult cases. If you have great credit, great income, and plenty of assets to back the loan, and it is a straightforward mortgage, I highly recommend searching elsewhere for your lending needs. Do not use TexasLending.com
Pre-approved for new construction home loan. Where do I start? We had all of the requested documentation to our loan processor 2 months prior to close. We gave $25K down and were given a closing date. All good, right? NOPE My husband and I make $10K a month, clearly enough to fund the $2500 per month house payment. He has 15 years at his job and I have 2 at mine with another 12 in my industry (only 2 jobs in that 12 yrs). The only debt we have is 1 car, 1 credit card, & 1 student loan for a total of $25k. Credit scores 668 & 700. The day before we were supposed to close, I emailed our processor asking for the the money order amounts we needed to have for closing since we hadn't heard anything from the company after all signatures, funds, and conditions were received (about 2 weeks). The morning of closing I receive an email (in response to mine) stating that we would not be able to close today due to a few forms missing from the builder. I guess they were just going to let us show up to the closing...? After that day, everything started to fall apart. Condition after condition after condition came back. Silly things like, there is a $5 difference between a tax refund and what was deposited. Need to account for that. A condition for FIVE dollars? We were even asked 4 separate times for documentation that the processor had for the previous 2 months. Most conditions required us to pay money (certified copies of this, special requests of that...) and wait for the items to arrive. Things, that CLEARLY should have been requested when we initially submitted the information. This tells me that our ppwk was never submitted to the underwriter PRIOR to our original closing date. Yet, no one had the balls to tell us. Our loan was also transferred to a new loan processor toward the end of the process. Due to this issue, we basically had to start all over. She is a complete NITWIT! Meanwhile, we are incurring daily fees from storage, new appliance/furniture delivery, movers, our child home healthcare move (with a terminal illness), etc. We got to a point that we were a month past our closing date and had given 30 day notice to our landlord (based on schedule closing date which we are now a month over) who rented our home out beginning Nov 1. So we have to be out in 3 days....and still no closing date or no where to go. I asked numerous times for a supervisor number, someone I could talk to about the process but was told that it was against their policy to give out supervisor information. So we have been stuck with this loan processor who has no idea what she is doing. Even our builder said this is THE WORST lender they have ever worked with before and will never work with them again. I wish I could go into all the details about our experience but I don't have the time. We have literally shed blood, sweat, and tears. We have lost sleep and our appetites. PLEASE BEWARE AND STAY CLEAR OF THIS COMPANY!
TexasLending.com Reviews
So, 5 weeks into the process (perfect credit, all necessary docs received, closing scheduled) they ask me to sign a closing disclosure. When I read it, it has the wrong loan amount, wrong payment, etc. I asked them to correct it before I signed.
They honestly told me that I needed to sign incorrect documents before they could correct them! Literally, the VP of Closing told me that in order for her to be "in compliance", I had to sign documents that were not accurate. She said that the docs were just an estimate and not the final.
When I told her that I would not legally sign a document knowing that it is wrong, she said they would have to start the entire loan process over. I mean, if the docs are that "unimportant", why does the entire loan hinge on my signature of wrong documents? Something is not right here.
BORROWER BEWARE. I canceled the entire loan process after having to come out of pocket $600 for an appraisal and I haven't got the survey bill yet.... Not to mention the people were rude, they never communicated with each other so any new person involved would have to be backfilled on all aspects of the loan.
I don't know, maybe they can help in difficult cases. If you have great credit, great income, and plenty of assets to back the loan, and it is a straightforward mortgage, I highly recommend searching elsewhere for your lending needs. Do not use TexasLending.com
Pre-approved for new construction home loan. Where do I start? We had all of the requested documentation to our loan processor 2 months prior to close. We gave $25K down and were given a closing date. All good, right? NOPE My husband and I make $10K a month, clearly enough to fund the $2500 per month house payment. He has 15 years at his job and I have 2 at mine with another 12 in my industry (only 2 jobs in that 12 yrs). The only debt we have is 1 car, 1 credit card, & 1 student loan for a total of $25k. Credit scores 668 & 700. The day before we were supposed to close, I emailed our processor asking for the the money order amounts we needed to have for closing since we hadn't heard anything from the company after all signatures, funds, and conditions were received (about 2 weeks). The morning of closing I receive an email (in response to mine) stating that we would not be able to close today due to a few forms missing from the builder. I guess they were just going to let us show up to the closing...? After that day, everything started to fall apart. Condition after condition after condition came back. Silly things like, there is a $5 difference between a tax refund and what was deposited. Need to account for that. A condition for FIVE dollars? We were even asked 4 separate times for documentation that the processor had for the previous 2 months. Most conditions required us to pay money (certified copies of this, special requests of that...) and wait for the items to arrive. Things, that CLEARLY should have been requested when we initially submitted the information. This tells me that our ppwk was never submitted to the underwriter PRIOR to our original closing date. Yet, no one had the balls to tell us. Our loan was also transferred to a new loan processor toward the end of the process. Due to this issue, we basically had to start all over. She is a complete NITWIT! Meanwhile, we are incurring daily fees from storage, new appliance/furniture delivery, movers, our child home healthcare move (with a terminal illness), etc. We got to a point that we were a month past our closing date and had given 30 day notice to our landlord (based on schedule closing date which we are now a month over) who rented our home out beginning Nov 1. So we have to be out in 3 days....and still no closing date or no where to go. I asked numerous times for a supervisor number, someone I could talk to about the process but was told that it was against their policy to give out supervisor information. So we have been stuck with this loan processor who has no idea what she is doing. Even our builder said this is THE WORST lender they have ever worked with before and will never work with them again. I wish I could go into all the details about our experience but I don't have the time. We have literally shed blood, sweat, and tears. We have lost sleep and our appetites. PLEASE BEWARE AND STAY CLEAR OF THIS COMPANY!