Complaints

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:03/31/2025

  Type:Order Issues
  Status:

  ResolvedMore 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.

  Anyone reading this, I would advise reading the other BBB complaints. I originally read them but did not allow them to factor into my decision enough. That was a mistake.This lender originally sent an LOI that stated a loan amount of $393,750. The final proposed loan amount was $315,000. What started as a cash out refinance became a cash in refinance.They will claim that it's because the appraisal came in low. However, the appraisal was dramatically flawed and Silver Hill refused to intervene. When I initially financed the property for rehab last year, the appraiser at the time used comps that were all in the city that the property was located. This appraiser used 6 comps, 5 of which were not even in the same city. When I appealed the appraisal, Silver Hill gave the same appraiser the appeal to defend. Although this is not uncommon, the issue was that the discrepancy in comps was not addressed. Other discrepancies were not fully accounted for either.Silver Hill further used inflated Common Area Expenses to create a lower DSCR ratio to thereby justify a lower loan amount and LTV. The property in question has no common areas other than 3 short hallways and no amenities. And yet somehow, they justified Common Area Expenses of more than $20,000 per ******* became clear to me during the interactions with them, that they were unwilling to listen to any facts or objective data. While I can only speculate their intentions, my assumption is that they were trying to push me into a loan that would serve their long term needs more appropriately (e.g. resale). I further believe that they were even more brazen in their approach since they knew that my debt was coming due within a couple weeks.I have been an investor for more than a decade and have never had an experience like this. It's truly disappointing that it came to this. I want my appraisal fee and application fee refunded. In exchange, I won't pursue any further damages resulting from the delayed refinancing.

  Business Response

  Date: 04/02/2025

  Good morning,

  We have refunded the application fee and contacted the appraisal management company to refund the borrower's appraisal fee.

  With regards to the borrower's comments on the appraisal, we submitted the appraisal dispute to the appraiser as it was written by the borrower with no edits. The appraiser responded with a detailed letter with no changes in rent or value. We only go back to an appraiser once with a dispute as anything further could be construed as a violation of Appraisal Independence Rules (AIR). Further, the appraiser's response was well supported.

  Please let me know if you have any additional questions.

   

  Regards,

  ****

  Customer Answer

  Date: 04/14/2025

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  ***** *********

• Initial Complaint

  Date:03/15/2025

  Type:Order 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 not sure why this Company think it is ok to scam hardworking people out of their money, but I can assure you that I will be the person that make sure this does not happen to anyone else. I hired 4BridgesLending Company as my brokerage company to find me the best deal they can. I was attempting to purchase my 1st Commerical property and wanted some help. ***** ******, sent me an approval letter from SILVER HILL FUNDING and a term sheet from this company. I was charged an application fee of $499 and appraisal fee of $3900 at total of $4399.00. Approximately 4 days from the closing date of March 10th 2025 I get an email from the brokerage company saying the loan was denied. To add insult to injury I discovered that ***** ****** who was supposed to be working on my behalf also works for Silver Hill Funding so she is scamming people out of their money. I am a Detective with the **********************************. I have been a Police officer for 17 years if I did not see this coming people with less awareness did not either. I will loose this property because I cannot find another lender in time because of this fraud. I have hired an Attorney and we are fully prepared to fill a lawsuit. This company should be shut down **** and legal action will be taken

  Business Response

  Date: 03/17/2025

  Good afternoon,

  The loan was submitted to us as an investment loan. Once we received the appraisal, it was determined that part of the subject property was vacant and the remaining unit was owner occupied. The mortgage broker informed us that the borrower was going to occupy the entire property with their business however, we were not able to verify the borrower's business to support the loan request.

  We are unable to comment on the conversations between the mortgage broker and the borrower but this loan was never scheduled for closing. The mortgage broker does not currently work for Silver Hill nor have they ever worked for Silver Hill.

  We refunded the borrower's application fee of $499 however, we are unable to refund the appraisal fee as the borrower ordered and paid for the appraisal directly with an appraisal management company.

  Please let me know if you have any additional questions.

  Business Response

  Date: 03/18/2025

  Good afternoon,

  We have contacted the appraisal management company, ***************, and asked the company to refund the borrower and invoice Silver Hill for the appraisal. The invoiced amount of $3900.00 will be refunded to the borrower.

  Please let me know if you have any additional questions.

• Initial Complaint

  Date:12/30/2024

  Type:Order 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.

  RUN AWAY from Silver Hill Funding LLC! They were presented to me by my commercial mortgage broker for a commercial building cash out refinance mortgage. After receiving a rate sheet from them and paying the "application fee" they performed a credit check and was told they were interested in moving forward with the terms discussed, subject to an appraisal. I paid $3100 for an appraisal and it came out exactly where I stated it would, matching an earlier appraisal I provided to them from 13 mos. prior - however Silver Hill decided that they would not proceed with the deal as discussed and offered to fund approx. 2/3 of what was originally discussed. (not even enough to pay off the existing mortgage) Obviously, this was a non starter. I respectfully asked for the APPRAISAL FEE back and they have continued to ignore me or even offer me the appraisal itself, which again, I PAID FOR. So basically they took my money in "fees" and said they were ready to move ahead subject to the appraisal and then CHANGED the DEAL after I paid for it! This is "BAIT and SWITCH 101" and I am seriously considering legal action as someone has to STOP this type of lending FRAUD! - I highly RECCOMMEND AVOIDING Silver Hill Funding LLC at ALL COSTS!

  Business Response

  Date: 01/02/2025

  Good evening,

  We issued a letter of intent with a proposed loan amount of $655,000 based on a stated value of $950,000. An appraisal was ordered and paid for by the borrower directly through an ***************************** The appraisal was completed and the property was valued at $920,000. The loan was underwritten based on market rents which came in lower than the rental income provided at application.Subsequently, the loan amount was reduced to meet our DSCR requirement of 1.0x.We provided the mortgage broker the updated terms but we were told the borrower did not want to proceed. We will provide a copy of the appraisal report however, we are unable to provide a refund as the borrower did not order the appraisal through Silver Hill.

  Regards,

  ****

  Customer Answer

  Date: 01/08/2025

   
  Complaint: 22748471
  
  I am rejecting this response because: The attached initial letter of intent was based on an anticipated appraisal value of of $950k - with Silver Hill taking a first position at *****% LTV... Appraisal came in at $920k...so a *****% *** would be a loan of $634k yet Silver Hill decided to offer a $450k loan based on a supposed rental value, which was NEVER discussed in prior letter of intent. Bottom line is Silver Hill's Letter of intent was nowhere near what was offered. Funny how, despite several emails to multiple employees of Silver Hill, I was ignored and not even given a copy of the appraisal (that I paid for) until I left multiple, accurate reviews online!  Bait and switch! 
  
  Sincerely,
  
  **** ******

  Business Response

  Date: 01/08/2025

  We provided an explanation to the mortgage broker detailing why the terms changed. Unfortunately, we are not privy to the communications between the broker and borrower so were not aware of what was communicated to the borrower. The appraisal was provided directly to the borrower on January 2nd.

  Customer Answer

  Date: 01/09/2025

  There really is no "resolution" to this case. I don't imagine that there will ever be funding from Silver Hill. I just want it on record for others to see that I spent both time and money on attempting to obtain financing through Silver Hill and they CHANGED the DEAL after my spending money and countless hours of my time providing them everything they asked for. However they did (after a month of ignored emails ....... and only after I left reviews/feedback on multiple sites) finally forward the Appraisal that I paid for and they were purposely withholding! It is a shame that businesses operate this way but I do not expect a resolution!

  Customer Answer

  Date: 01/09/2025

   
  Complaint: 22748471
  
  I am rejecting this response because:

  There really is no "resolution" to this case. I don't imagine that there will ever be funding from Silver Hill. I just want it on record for others to see that I spent both time and money on attempting to obtain financing through Silver Hill and they CHANGED the DEAL after my spending money and countless hours of my time providing them everything they asked for. However they did (after a month of ignored emails ....... and only after I left reviews/feedback on multiple sites) finally forward the Appraisal that I paid for and they were purposely withholding! It is a shame that businesses operate this way but I do not expect a resolution!
  
  Sincerely,
  
  **** ******

• Initial Complaint

  Date:12/12/2023

  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.

  This lender did a bait and switch. The loan was conditionally approved and we cleared all the conditions. Then they ran a background check on the borrower and the lender couldn't perform. The background check could have been ran from the beginning to avoid months of working on this transaction. My borrower paid a hefty sum and spent hours each week trying to satisfy the loan requirement all for them to cancel last minute.

  Business Response

  Date: 12/12/2023

  We did not bait and switch the borrower. During a secondary review of the borrower's background, we discovered multiple delinquencies that do not meet our requirements. Unfortunately this was discovered late in the process but the borrower's loan application did not address this issue either. We have already refunded the borrower the full amount.

• Initial Complaint

  Date:10/02/2023

  Type:Order Issues
  Status:

  ResolvedMore 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.

  6/2023 I paid this Company $4000 for an appraisal in hopes of refinancing a property and they sent their appraiser out he was on site about 30 minutes and then they said later that they were backing out of the deal based on the appraisal but wouldn't show me the appraisal or tell me specifically what was said. They told me they would give me a copy of the appraisal for an additional fee. Don't do business with these crooks.

  Business Response

  Date: 10/02/2023

  Good afternoon,

  The borrower paid $3600 for the upfront appraisal deposit but the actual cost of the appraisal was $4000. We typically require that the borrower pay for the full cost of the appraisal before we will release the report but we have made an exception to refund the borrower's $3600.

   

  Regards,

  ****

  Customer Answer

  Date: 10/04/2023

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  ***************************