ComplaintsforBetter.com

• Initial Complaint

  07/26/2021

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  We applied for a mortgage for a condo at the beach. We went through all the process and supplied all the information, everything was approved and at the last minute, before closing they cancelled our mortgage application because they could not lend to a rental property. The INITIAL APPLICATION ASK FOR THE RENTAL INCOME FOR THE POTENTIAL PROPERTY. We supplied them with the rental history and the future rentals, from DAY 1, We spent thousands of dollars on appraisal and paying off debt they required us to pay off. Why did it take 3 week for the team to realize this was a rental property and deny our application?!?! This is very deceitful business practices and I ask this be investigated.

  

  Business response

  08/04/2021

  Better Mortgage received your complaint submitted through the Better Business Bureau regarding your loan application. We take customer complaints seriously and appreciate the time you took to raise your concerns. Due to privacy concerns, we are unable to provide you with additional details in this manner. Our Client Success Manager, Carson, provided you with a detailed response via email. Thank you for the opportunity to provide a response. 

• Initial Complaint

  07/20/2021

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I applied for 30 year loan with Better Mortgage on 06/30/2021, I paid 550$ for rate lock and appraisal if needed. A week and a half later the points i was supposed to pay initially increased from 2.268 to 2.294. This alerted me and make me think since the loan amount does not change why the rate change? Loan officer also stated he ran my file through their UW system given the home valuation I provided, and I did get a waiver. This also raised concerns because The home value i provided was 712K and the loan amount I requested was 262K. LTV should comfort both ****** *** and ******* ***. Loan officer insisted for an appraisal and ordered it, while i went back to shopping with two more lenders and they both stated ******* *** and ****** *** found my valuations acceptable and I do not need an appraisal. I asked loan officer to cancel my application and refund the cost of appraisal he did not. I feel appraisal was used so i could not back out from the application because of the $$ spent!

  

  Business response

  07/22/2021

  Better Mortgage has received your response submitted through the Better Business Bureau regarding your loan application process. We take customer complaints seriously and appreciate the time you took to escalate your concerns. Due to privacy concerns, our Client Success Manager, Matthew, contacted you directly to address your concerns and provide additional details via email. 
  

  Customer response

  07/26/2021

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  The appraiser did not complete the job correctly and I cannot hold him accountable for the job performed because services have been ordered by your company. Therefore I have to be reimbursed or your company needs to fix the issues I have outlined and re-order the appraisal so I get my money's worth. There is no one mile proximity requirement from ****** ***. 

   

  Thank you,

   

   

   

   

  In order for the BBB to appropriately process your response, you MUST answer the question above.

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

  

  Business response

  08/04/2021

  Better Mortgage received your response and appreciate the time you took to raise your concerns. Our Client Success Manager, Matthew, provided an explanation of the appraisal process. If you need further assistance please reach out to Matthew or email ******************. Thank you.

• Initial Complaint

  07/20/2021

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Better Mortgage failed to complete my 15 year fixed refinance loan. The loan was initiated on 3/18/2021, appraisal completed 3 days later and conditionally approved by underwriting on 4/7/2021. The title company affiliated with Better Mortgage, called Mortgage Connect, was highly incompetent. It took 3 weeks to clear the title because they required affidavits to be signed by previous owners who were no longer on the deed from 3-10+ years ago. The deed transfer were performed by attorneys and I provided them with their contact information but they refused to verify it. The interest rate lock was 90 days from the time of application. Turn around time was supposed to be 8-12 weeks. Then underwriter said 12-14 weeks. The rate lock extension cost 0.02% of the loan amount. The application extended well beyond the 90 days. It has been 15 weeks! They are charging me rate lock extension fees that is much more expensive than initially quoted on loan estimate.

  

  Business response

  07/22/2021

  Better Mortgage has received your response submitted through the Better Business Bureau regarding your loan application process. We take customer complaints seriously and appreciate the time you took to escalate your concerns. Due to privacy concerns, we will be providing you with a detailed response via email. Our Client Success Manager, Jacqueline, contacted you directly to address your complaint. Please respond to Jacqueline's email if you need further assistance. 

*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. ↩