Customer ReviewsforBay Equity, LLC

I've been working with this ********************* group for several months now as a first time homebuyer. I realize now that maybe they just get paid off how many applications they process or something. Because once they have your information from you, they disappear on you. As a first time homebuyer, I needed questions answered as to why my preapproval only lasted 30 days and why on my first approval I had a FHA loan and then months later I only had a conventional loan and a way lower approval rate of $300k. They have been completely avoiding my calls, emails and voicemails. I cant believe that they would be so unprofessional as this. If they only want to work with people who have a downpayment already saved of $15000 and up, they should make that known. They completely leave you hanging throughout the process and are only out to make money off approving or getting applications pushed through. There is no way I have an $18K down payment and they wont explain why they approved my materials with such high down payment and closing costs. This is not what we had discussed when I came to them. I feel taken advantage of and deceived. They wouldnt communicate on why they kept needing to make new applications after 30 days. I see now that they probably get paid or something for starting new applications with people. They must get some commission or something because otherwise it doesnt make sense not to actually really try to help someone find a home.

Good afternoon ****************,

Bay Equity takes seriously the satisfaction of our borrowers. Reaching out to you directly to inform you that we had an email transmission failure from our end that blocked all your emails to *********************, your loan officer. As such, she couldn't respond to your emails because she never got them. It was an IT technical issue that ********************* had absolutely no fault in the matter.

We are sorry this happened, and I invite you to give us your further input to reach out to ********************** or contact me directly. I am happy to attempt to explain the circumstances in further detail and to see if there is anything else we can do to help. (I also took the liberty of leaving you 2 messages at your number in the days prior.)

Thank you in advanced.
Respectfully,

We worked with ***********************, *********************** and ***************. I will also start by saying we had a 45 day closing so plenty of time to get things done. My first red flag, and when I should have switched, was when we were approved and I asked ****** for that days interest rate.. he told us *****% (failing to mention that would be if we bought the interest rate down for 5k+) Our realtor told us they should be able to crunch any number for us and they should be getting back to us in a timely manner. Every question I asked it took days/week to respond. ****** gave us misinformation regarding gift money, wrong numbers multiple times, kept telling us "you are in great shape!" whenever I would ask what else we could be doing for a smooth process, which was a lie. The only date we were ever told was our closing date all documents need to be in by. We had submitted every document they asked for, the day they asked for it. April 25, *** comes into the picture, we had never heard of her or spoken to her. She informs me we need to submit 15+ documents, some of which we had to request from our bank which is not quick, in 7 business days or they would cancel our closing! Our realtor and attorney had never heard of cancelling a closing.. She also did not start our employment verification until then. She was extremely rude to our employer and told them it would be their fault if our closing got cancelled. Then, we find out that my employer had responded, same day, but they went into ***'s junk folder.. she never apologized. I asked from the beginning, please tell me EVERYTHING I need to know, truly no detail is too small... and yet, they waited until a week before things were due to inform us all our money needed to be in 1 account with paper trails, waited until that same week to do employment verification and threatened us. We actually got approved for the same terms and rates somewhere else but figured, how bad can it be?! and I am kicking myself for sticking with Bay Equity.

Bay Equity takes seriously the satisfaction of our borrowers. Bay Equity cannot substantively respond to this review in a public forum such as this because to do so will necessarily disclose borrowers non-public information and personal circumstances on part of the allegations brought up. Bay Equity invites you to reach out to ********************** and we can attempt to explain the issues brought up in detail. Thank you.