Complaints

This profile includes complaints for Kiavi Funding, Inc.'s headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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  Kiavi Funding, Inc.

  575 Market St Ste 1600 San Francisco, CA 94105-5860

• 

  Kiavi Funding, Inc.

  2 Allegheny Center Suite 200 Pittsburgh, PA 15212

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:03/03/2025

  Type:Order Issues
  Status:

  UnansweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  We have two properties under Kiavi as the lienholder/lender. The worst company to deal with submitting draws for renovation. They are so focused on their stupid form and its format, they returned my submissions multiple times, the contractors even submitted one. They still rejected it. They even sent a person to the renovation site and still rejects the draw submission. We have to find another way to come up with the money to pay the contractor to avoid renovation delay. The rehab is completed and still they are rejecting our submission because we did not follow the format. I would never consider Kiavi as the lender. Never again.

• Initial Complaint

  Date:06/21/2024

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I was looking for a loan to buy a house in ************, the total of the house was *******, I was gonna put 25 percent of down payment, I communicated with this broker, ***********************, email is *************************************** and phone number **********, in ******** *****, and they were looking for a loan for me, they give me a very high interest at 10.5 percent, it was supposed to be at 8 percent, and they said that I have to put down payment from $76,898.49, which would be 58 percent of down payment, and the taxes of the house are ***** and they put *****, and I never knew why they put it that high for years.and they said that they approved this loan without asking me, I get the paper two days before the closing of the house, I was never gonna accept the loan if they asked me. I have called them emailed them to please give me a delay letter so I could get my down payment back which is ****** dollars, but they blame it on me that I dont have enough money for the closing, I have bought other houses and this has never happened to me and please help me to get my money back because the owner doesnt want to wait much, but they want to keep my ****** dollars but its not my fault, because the bank never asked me if I would accept the loan for everything they did. The address of the house I was gonna buy is ************************************. The file number is LCO1013. Thank you and I hope I get a response from you shortly please help me I do not want to lose my money. My name is ***************** and my email is ********************* and my phone number is **********. Thank you.

  Business Response

  Date: 07/01/2024

  Dear ************, 

  We have received your correspondence related to 2418 PENN LLC being unable to obtain a loan with Kiavi based on the way some of our calculations were completed. After receiving your complaint on Friday, June 21st, Kiavi investigated the areas of concerns that surfaced within your complaint and recalculated the loan terms.  Kiavi was able to accurately decrease the taxes, which lowered the overall interest rate, down payment and overall cash to close. Our team anticipates closing this file on Friday, July 5, and no later than Monday, July 8, and are actively working to resolve this issue. 

  We hope that this statement can help clarify the timeline of events that took place and Kiavis position. Please do not hesitate to reach out to the ********************* at Kiavi if you have any questions or need anything further. 

  Thank you,

   

  
  

• Initial Complaint

  Date:01/19/2024

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  ************************* with Kiavi was the main source of the problem. He refused to refinance me out of several short term loans in which I already had tenants in place, forcing me to refinance elsewhere in a short amount of time. Causing me an enormous amount of money, stress and aggravation. I am seeking to be refunded for all the excessive fees and charges I had to incur as a result of their negligence.

  Business Response

  Date: 01/29/2024

  Dear Mr. ************************** have received your correspondence related to Izquierda Derecha Properties LLC being unable to receive refinancing with Kiavi. 

  In September 2022, you worked with our **************** on an unrelated loan (#********) where it was identified that Izquierda Derecha Properties LLC had violated Kiavis loan terms and conditions by deeding the property, despite having an active bridge loan with Kiavi, outlined in section 19 of the executed promissory note (see attached - Promissory Note #********). This is where you were first notified if this behavior continued we would no longer be able to continue doing business with you. 
  

  In February 2023, the same behavior was seen with another loan (#********) where our **************** reached out and let you know this was not allowed and that this was previously mentioned to you in September 2022. 
  

  This repeated behavior resulted in the borrower being banned from the platform for continuously violating our loan terms and conditions. Kiavi will not be providing a refund in any amount for any of the fees and charges this borrower may have accumulated in efforts to secure financing. The borrower has directly violated Kiavis loan terms and conditions on multiple occasions. 
  

  We hope that this statement along with a copy of the executed promissory note can help clarify the events that took place and Kiavis position. Please do not hesitate to reach out to the ********************* at Kiavi if you have any questions or need anything further.
  

  
  

  Customer Answer

  Date: 02/02/2024

   
  Complaint: 21167601
  
  I am rejecting this response because: They totally disregarded the proof I have provided in reference to the loans where this behavior happened.  Using the terms and conditions of the Note was expected, a typical logical almost robotic response with no human effort in seeing the actual facts of the damaged cause to me by your negligence and discrimination. 

  I didn't expect a resolution here, I merely wanted to get evidence that I have tried everything possible to resolve it.  The judge might ask me that and I can't wait to plead my case and bring the justice that Kiavi so well deserves. 
  
  Sincerely,
  
  Yoander Vmoney

  Business Response

  Date: 02/08/2024

  Dear Mr. **************************** is in response to your correspondence related to Izquierda Derecha Properties LLC being unable to receive refinancing with Kiavi. 

  
  In September 2022, you worked with our **************** on an unrelated loan (#********) where it was identified that Izquierda Derecha Properties LLC had violated Kiavis loan terms and conditions by deeding the property, despite having an active bridge loan with Kiavi, outlined in section 19 of the executed promissory note (see attached - Promissory Note #********). This is where you were first notified if this behavior continued we would no longer be able to continue doing business with you. 
  
  In February 2023, the same behavior was seen with another loan (#********) where our **************** reached out and let you know this was not allowed and that this was previously mentioned to you in September 2022. 
  
  This repeated behavior resulted in the borrower being banned from the platform for continuously violating our loan terms and conditions. Kiavi will not be providing a refund in any amount for any of the fees and charges this borrower may have accumulated in efforts to secure financing. The borrower has directly violated Kiavis loan terms and conditions on multiple occasions. 
  

  
  

• Initial Complaint

  Date:05/22/2023

  Type:Order Issues
  Status:

  UnansweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  DOES NOT USE CORRECT DATA REGARDLESS OF SUPPORTING FACTS!!!!!Uses ******************* **** used is incorrect. Subject property is urban yet is written as suburban. Goes OUTSIDE of the recommended comparable guidelines according to NAR ********************* of ********* Does not stay with in same subdivision, neighborhood or zip code.This damages *************************** by not adhering to professional guidelines and not using local housing resources for correct valuations of properties they state they would lend on.***** choose to cross major roads, in to different zip codes, in to areas that are not comfortable to the subject property which decreases the value of the subject properties.I would consider this company a predatory lender. They may not prey on their clients directly, but they prey on the neighborhood in which they lend on.

• Initial Complaint

  Date:08/23/2022

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  this company committed *****, they took my money , took all of my loan required docs , told me i would be set to close on Aug. 30th, and now they denied me due to the fact that i am a new time buyer, which makes no sense. i truly believe they are making new policies up and discriminating against me. I met all the requirements when i was speaking to a lender and all of the sudden i am disqualified , they took my money and they never communicated with me. I didn't even have a contact info.

  Business Response

  Date: 08/24/2022

  Borrower was denied because of company policy.  Brokered borrowers who have never purchased a home are not qualified for Kiavi rental products.  A broker experience representative spoke with customer via phone on 08/23, and customer expressed satisfaction with the response.

  Customer Answer

  Date: 08/25/2022

  
  Complaint: ********
  
  I am rejecting this response because: I told them and the broker , this is my first house and provided all documents,  they proceeded and then about a week before closing they mentioned new policies 
  
  Sincerely,
  
  ****** ****

• Initial Complaint

  Date:07/14/2022

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  s purchased by Kiavi it has been down hill. Last loan I closed took 6 weeks longer to close then planned. (It was just a refinance) The most recent spit in the face was this individual named ***************************, ****************** Specialist He contacted me a little over six months ago posing as my account manager on a HUGE project I purchased a few months before Covid hit (just a 69k loan) and explained with a dozen different things that have happened the project is very delayed. He pressured to put on market incomplete and drastically affected the response to home. Now they are forcing me to pay off loan on a house that appraised for 6x the loan instead of offering a short extension(we just completed this weekend) When I asked to speak to his supervisor and have made attempts to get another person assigned to case based on his rude and uneducated/inexperienced comments. He told me he was in charge and makes the final decision. Its obvious with all the other reviews Im finding on company that this behavior and experience is across the board for Kiavi and will be seeking an alternative funding source. (Literally thousands out there)

  Business Response

  Date: 07/18/2022

  Dear ******************, Thanks for reaching out to us and sharing your concerns. We take customer feedback very seriously and have shared it with our team. Our record indicates that this issue has been addressed and is closed. 

• Initial Complaint

  Date:06/28/2022

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I am in the mortgage industry myself and very familiar with best practices as well as processes involved. I began refinance with them at the beginning of 2022 (since I am not personally licensed in this state- OREGON) and the process is STILL GOING. Issues: Appraisal-- (they ordered appraisal and then transferred to a different appraisal company without checking turn times. The turn times ended up being WAY longer which made my rate lock expire and hurt me financially).Bait and switch- I was disclosed a rate at ****%. It was supposedly LOCKED (even after the first lock expired). However, every week that went by, the rate in the system was going up even after it was LOCKED. Months later they were telling me my rate was going to be *****%! Not only that, but ****** admitted to me over the phone that the best rate they could have gotten me in the first place was 7%. So we have the issue of BAIT AND SWITCH. But even that doesn't explain how if the rate was LOCKED, how did it go up higher than 7%???I was then told they would settle at a rate of ****% with no fees...A week later before closing they said nevermind, there actually WOULD be origination fees. THEY SENT ME A CLOSING DISCLOSURE SHOWING THE ****% RATE WITH NO ORIGINATION AND THEN TRIED TO TAKE IT BACK! When I spoke with rep about how unacceptable this process is on many occasions, his response was always that he will talk to management and get right back... that process always took many days, or even over a week before I would hear from him. And even then he would try to sell me on other options since he couldn't do anything to follow through with what was promised before. I need them to take responsibility for THEIR ERRORS and give me the rate that was promised before. Even if it costs them tons of money, that will be a lot less than having to deal with court fees and lawyers.

  Business Response

  Date: 07/08/2022

  Dear ********************,  We are sorry to hear about your experience. Please see the attached response letter addressing your concerns and feedback. Please don't hesitate to contact us with any questions Thank you

  Customer Answer

  Date: 07/11/2022

   
  Complaint: 17495182
  
  I am rejecting this response because:

  
  

  The list of changes being noted in the email response do not match up to what took place:

  
  

  "Your application was submitted on 02/8/22 and the ongoing rate at this time was around ****%. Over the course of time from February to March, where the interest rate was not locked in which it was subject to change based on market conditions. Your rate was locked on 3/30/22 at 7%."   ----IF THIS IS TRUE, I WAS LIED TO MULIPLE TIMES. I WAS TOLD IT WAS LOCK IN INITIALLY. WHEN I WOULD CALL TO CHECK IN I WAS TOLD BY MY REP THAT HE DIDN'T KNOW WHY THE **** KEPT GOING UP!

  
  

   "On 4/26/2022, the rate was changed to ****% due to change in the property type from SFR to 2-4 units, which resulted in a .25% point added to your rate."---THIS LOAN WAS DISCLOSED AT A DUPLEX FROM THE START

  
  

  
  

  "On 5/1/2022 the *** increased from 86% to 75% due to an increase in the loan amount from $140,000 to $172,500- resulting in the rate change of *****%."---- GOING FROM 86 TO 75 SHOULD RESULT IN BETTER PRICING, NOT WORSE. 

  
  

  A relock occurred on 5/2/2022 which then increased the rate to *****%. ---THE REASON LOCK EXPIRED IN THE FIRST PLACE IS DUE TO KIAVI CHANGINGS APPRISAL COMPANIES TELLING ME IT WOULD MAKE THINGS QUICKER AND CHEAPER WHEN IT DID THE OPPOSITE. KIAVI SHOULD HAVE CONFIRMED TIMELINE WITH APPRAISAL COMPANY BEFORE CANCELLING AN EXISITING ORDER WHICH WOULD HAVE GONE MUCH QUICKER!!! 

  
  

  
  

  As a result of the concerns raised by you, we offered a reduction in the origination fee from 1.5% to 0% in case a reduced rate was unable to be offered. 

  We then offered a lower rate as a customer courtesy at ****% with the original origination fee of 1.5%, however the offer was declined. ---YOU ARE SKIPPING THE PART WHERE I WAS CALLED AND OFFERED ****% **** AND I ACCEPTED... THEN I WAS SENT A CLOSING STATEMENT WITH ****% AND ZERO ORIGINATION WHICH I ALSO HAVE PROOF OF AND I EMAILED MULTIPLE CONTACTS AT KIAVI TO ACCEPT. AFTER THAT TIME I WAS TOLD YOU WOULDN'T HONOR THOSE TERMS THAT YOU ALREADY SENT AND OFFERED ME!!!!

  
  

  We understand that this situation is not to your satisfaction and apologize for that dissatisfaction. As a measure of good faith, we are willing to provide you with a rate of ****% for a 30 year term and waive half of the origination fee of $1293.75. If this is acceptable to you, please sign, date and return this letter to me via email. ---I WILL NOT BE PAYING ORIGINATION FEES. PLEASE MAKE SURE ALL CONTACTS AT KIAVI ARE AWARE THEY WILL BE DEALING WITH LEGAL ISSUES SHOULD YOU CONTINUE TO STAND YOUR GROUND ON THIS. 

  
  Sincerely,
  
  *******************************

• Initial Complaint

  Date:06/28/2022

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I started the process with Kiavi for 4 loans on properties I owned. All of the loans could not be closed within the 45 day timeline in order to keep the rate lock. This in itself seems very suspect to me about their business practices. That being said, all 4 loans had the interest rate increase significantly and the new interest rate was disclosed to me in writing. At the lawyers to sign the loan documents, one of the 4 loan interest rates was increased more than the other 3 and more than was disclosed in writing. I did not sign that loan paperwork due to the error. I requested the error be corrected however Kiavi was unable to fix the issue. They had at that time also lost my feeling that they were an honest company. I declined working with them any longer and requested a refund of the appraisal fee for the one one loan they had made an error on. While I knew that the appraisal fee was not refundable, in this case, since the error was 100% Kiavi's and Kiavi was unable to uphold their word on giving the interest rate they disclosed in writing I requested a refund. It is now almost 3 weeks later and no response from Kiavi.In addition to the appraisal fee of $550 the attorney's fee for dealing with the loan was $475. Both of these costs should be refunded to me by Kiavi.

  Business Response

  Date: 07/08/2022

  Dear **************. We are sorry to hear about your experience. Please see the attached response addressing your concerns and feedback. Please don't hesitate to contact us with any questions Thank you

  Customer Answer

  Date: 07/15/2022

   
  Complaint: 17494940
  
  I am rejecting this response because most of the details stated by the business are incorrect. The business made the errors in the first place leading to the subsequent errors. This company did not provide the loan that was promised and attempted to have me sign the loan documents at the attorney with increased and undisclosed interest rate. This company is fraudulent and needs to be held accountable.
  
  Sincerely,
  
  *************************