Customer ReviewsforNetwork Capital Funding Corporation

We were promised an FHA refi loan by M——- M——on our property in Florida. He advised us to take a hit on our taxes to show more income. The low interest rate and cash out to pay everything off was worth it. 4/16/2022 - closed on the loan 4/20/2022- 3 day right to recession ended. 4/21/2022- loan was supposed to fund. It Did not fund. Instead I was called by T——- W———, who was still asking for documents even after we closed. 4/22/2022- Still not funded! No one would call me back or answer email, everyone involved in our loan went ghost! Received a call from Manager I— J—— who told me they are not going to fund because we don’t qualify for an FHA loan. WHAT! We closed already! Mr. J——informed me that Florida was a dry funding state therefore you have your closing and then the final underwriting is completed (takes longer to fund and they can resend the loan) … I told him Florida is a wet funding state (all underwriting must be completed prior to closing and funds are disbursed immediately after the recession date is up. Mr. J—— argued with me then googled it and stated “oh! It does say your a wet state so we have to fund” he then stated he would contact his compliance officer Mrs. C—— W——— Mr.J—-called me back and said Mrs. W—- told him, “her matrix says we are a dry state and that is how we will be treated). 4/25/2022- Compliance officer C—- W—— called me and was very rude and laughing at me telling me, I’ve been doing this for years and I have always treated Florida as a dry funding state. When I told her she was wrong she demanded I give here the Florida Statute stating we are a wet funding state. When I gave her an Administrative Code she talked over me and laughed at me. I have reported to every state agency and we are retaining an attorney. They have committed unethical, illegal and deceptive lending. We closed and should be funded.

It seems that Network Capital calls anyone who is a home owner, hoping that they are in a financial situation where the need to refinance is necessary. I have answered the calls and told every associate that I spoke with that I was not interested, but they insist on connecting me with a banker. This seems to me like the predatory lending that was going on in the 90's and early 2000's. From the reviews I have read from others, it seems that even if you do try to refinance or get a loan through them it's more costly than they let on. I'm not tying myself to another 30 year mortgage. Nothing is free. I just wish they would stop the calls.

3 months later and they still haven't closed my refi loan. Had to cancel because they simply quit updating me. I have 750 credit and multiple properties.

Now they just never answer the phone. They have this obnoxious ***** ********** on-hold message just playing on loop until they finally just disconnect you

TERRIBLE CUSTOMER SERVICE

-Avoid at all costs