ComplaintsforCardinal Financial Company, Limited Partnership

• Initial Complaint

  06/12/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I am a wholesale mortgage loan officer. I did a transaction with Cardinal Financial for a first time home buyer, there were a few issues at closing and, to remedy the situation and to not have the buyer come in with additional money, it was suggested by the ** I help buy down the rate. After much communications I agreed to give the buyer $1,500.00. This transaction closed on May 8, 2024. The money was not credited. My commission was pretty much reduced without the benefit to buyer, I would have not reduced this amount were it not to help buyer. In the end, buyers not only paid the full price for the rate but, also came in with additional down payment. I contacted said **, *******************, he not only has been given me the run around but, has not returned my emails. I have tried to contact corporate but, the person I spoke with and gave me ****************** as a contact but with the wrong number. There has been numerous communications from management from my company but, I have been given the run around. I do need a call back from someone besides the mentioned **. A solution is also requested as I do not conduct business in this manner. I have been a loan officer for over ******************************************************************* a fair way. I also work hard for my clients and I would have never reduced my commission if it was not going to benefit the customer. I would like this ******************** institution know that I will continue to file complaints with all necessary regulatory agencies.

  

  Business response

  06/21/2024

  Hello,

  Please find attached Cardinal Financial's response to BBB case number 21840322.

  Best regards,

• Initial Complaint

  06/07/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  They completed an Escrow estimate in April with such significant error that my mortgage payment went from $1879 to $2035 by estimating my taxes to be almost triple what they actually are according to the tax authority.

  

  Business response

  06/18/2024

  Hello,

  Please see the attached response to BBB case number 21815980.

  Thank you,

• Initial Complaint

  05/28/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  PAID ESCROW SHORTAGE IN JANUARY AND THEY DID NOT APPLY IT. I HAVE CALLED EVERY MONTH TO HAVE IT RESOLVED AND NO ONE CAN FIX THE ISSUE. I HAVE REQUESTED TO BE CONTACTED BY PHONE AND THEY HAVE NEVER REACHED OUT. THEY HAVE APPLIED LATE CHARGES. AND DEDUCTED MONEY FROM EACH MONTHLY PAYMENT TO APPLY TO THE SHORTAGE THAT WAS ALREADY PAID. I AM NOW RECEIVING COLLECTION NOTICES IN REGARDS TO THE SHOTEAGE.

  

  Business response

  06/04/2024

  Hello,

  Please find attached Cardinal Financial's response to BBB case number 21770183.

  Best regards,

• Initial Complaint

  05/14/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  On April 23, 2024 we closed on a refinance of our home with Cardinal Financial (with Equity Settlement as the title company) on a VA loan with the agreement that ALL unsecured debt be paid off as follows:American Express Credit Card Barclays Mastercard Navy ******************** Credit Card USAA Credit *************** Credit **************************************** Star Credit Card *********** Card Citibank Credit card Unsecured Personal loan at Golden 1 credit union ****** Financial payoff for primary vehicle They missed a second Chase credit card in the process despite being sent statements on at least three occasions. Checks for our creditors were supposed to be mailed on 4/24/2024. We were particularly concerned about this because of the billing cycles for these accounts. We are now in arrears with payments because several creditors have not received payments from the funding of our loan. It seems that the checks were not even sent out until 4/30/2024 (SEVEN days post closing and at the end of our billing cycles)To date, three weeks from the closing date, many of our bills have not been paid, we are receiving late fees based on Cardinal Financial Assuring us on Multiple occasions that ALL checks had been mailed and these could not be investigated until a full 30 days has passed. This is entirely unacceptable. On 5/14/2024 we were informed that Cardinal Financial has sold our loan to Planet Financial. This is even more concerning to us now, we are in receipt of our first bill, effectively making payments on the debt that still has not been fully paid out.To date, we are going to have over $5,000 in late fees and missed transactions. This seems to be an undue expense for a transaction with the sole purpose of getting us onto better financial footing. We are beyond disappointed and will never work with this company again, despite our wonderful experience with our mortgage originator, this has been the biggest nightmare. Booo Cardinal Financial.

  

  Business response

  05/29/2024

  Hello,

  Please find attached Cardinal Financial's response to BBB case number 21711661.

  Best regards,

   

• Initial Complaint

  05/04/2024

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Resolved

  More info

  Receiving unsolicited and unwanted offer for loan from this company.

  

  Business response

  05/08/2024

  Hello,

  Please see the attached response to BBB case number 21667137.

  Best regards,

  Customer response

  05/08/2024

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

• Initial Complaint

  05/01/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  Loan origination date 11/2022. Loan# ********** ************************************* In November 2023, an escrow refund check was sent to me for the amount of ******. On the paperwork, was an option to apply the *** toward the next month's mortgage payment. For December's payment I attached the uncashed escrow check ($******) and wrote an additional check for $1837.39 to make the mortgage balance of $2546.74. On 12/1 the check for $1837.39 cleared my account. I received a delinquent notice on 12/19/23. I spoke to a customer service representative on 12/27/23 who explained that I was supposed to cash the escrow refund check and then write a new check for the full mortgage amount. The $1837.39 is sitting in an unapplied account since only full mortgage payments can be credited. The decision was made that Cardinal Financial would reissue the check which I would then cash and send back on my own check with a note to match it up with the unapplied payment.I have contacted Cardinal Financial on 12/27/23, 1/19/24, 2/7/24, 3/1/24, 4/22/24, and 4/29/24. I have not yet received the check even though every time I am told that the problem is escalated. I continue to receive delinquent notices regarding the now $682.97, since my escrow amount was adjusted and new mortgage amount is $2520.36. Late fees continue to be applied to my account- now that I have reached the lifetime two late fee waivers- any further requests will have to submitted in writing.I have contacted Cardinal six times to get the confusion resolved. We are well past the ***** days that I was told it would take to get this corrected.1. I am asking Cardinal to reissue the escrow overpayment check so that I can complete the payment as requested.2. All late fees need to be waived- currently at $107.23. All mortgage payments have been received well before their due date. 3. Any credit reporting information regarding late payments be retracted 4. Cease with any delinquent notices until the issue is resolved

  

  Business response

  05/14/2024

  Hello,

  Please find attached Cardinal Financial's response to BBB case number 21651834.

  Thank you,

• Initial Complaint

  04/16/2024

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  They sent my H343032**333633323536H H32303235**303035**32H the incorrect forms for my taxes. They sent a letter saying that we need to increase our H343032**333633323536H for the year. They said that since they have done an analysis on my account, they can&#**;t change it. They say they are missing the correct documentation. So we reached out to the county of corrections office and wanted them to call them to get a better understanding of what documents they are looking for and my H343032**333633323536H H32303235**303035**32H said they can&#**;t do this.

  

  Business response

  04/24/2024

  Hello,

  Please see Cardinal Financial's response to BBB case number 21581761.

  Best regards,

• Initial Complaint

  04/04/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Mortgage ** wants to charge me $13,913 in property taxes for 2024 even though I've demonstrated I'm tax exempt here in TX. I had a mortgage payment due on 1 Apr adjusted and added this this escrow shortfall from my regular monthly payment of $5400 up to $7209.32. They will not make any adjustments and told me the total amount is due. I submitted this paperwork months ago and they say it may take several more weeks to update my account to reflect the tax exempt status. They are saying I must pay the increase, including the taxes even though I have demonstrated I'm exempt.

  

  Business response

  04/15/2024

  Hello,

  Please find attached Cardinal Financial's response to BBB case number 21529749.

  Best regards,

   

• Initial Complaint

  02/29/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  September of 2022 we started a new mortgage with cardinal financial and were very happy with the service we received during the closing process, this however turned bad very quickly. Less than 3 months after closing Cardinal forced our monthly payment to go up by $530, they had mistakenly assessed our tax rate at 6% and not 4%. We were told that once it was corrected we would revive a refund for the overage we had payed. No refund was ever issued. Following this our home owners insurance was not paid by Cardinal financial even tho they continued to remove money from our escrow account to pay for the policy. After three failed attempts to get them to pay the insurance was cancelled due to non payment. They then proceeded to charge us $1089.90 for 3 months of lapsed insurance that was caused by them. I sought out a new policy and got one set up with State Farm, payment information was given to Cardinal and a check was issued to State Farm supposedly (1/13/2024) as of today (2/28/2024) State Farm notified me that no payment was received from Cardinal financial although the money was removed from our escrow account just like with our previous insurance provider. As of this month they are forcing our monthly payments back up due to an escrow shortage that they have caused. They have been absolutely horrible and have not attempted to work with us at all in resolving these issues. I would greatly recommend never doing business with this company for any reason.

  

  Business response

  03/13/2024

  Please see attached business response. 

• Initial Complaint

  02/21/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  We are closing on a loan for a house and we are supposed to be closing on the 23rd of February which is now less than 3 days away and we still have yet to receive a final closing disclosure with the correct amount and the lender has charged us more than we were supposed to be charged for appraisal fees

  

  Business response

  02/28/2024

  Hello,

  Please find attached Cardinal Financial's response to BBB case number 21323439.

  Best regards,

*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. ↩