Complaints

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

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  Hartford Funding Ltd.

  100 Crossways Park Dr W Ste 302 Woodbury, NY 11797-2012

• 

  Hartford Funding Ltd.

  100 Crossways Park Dr W Ste 302 Woodbury, NY 11797-2012

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:12/27/2023

  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.

  This companys mortgage broker claimed we had a mortgage loan ready for us to purchase a house. Attached is the pre approval letter. We paid $500 for an inspection which he told us to do because the mortgage was ready for us to purchase the house. At the last minute, when we had to have the mortgage commitment for the seller, the mortgage broker changed all terms of the loan, increased the interest and down payment to an exorbitant amount and asked for documents he told us we didnt need. We lost the house we were trying to purchase, along with a $500 for an inspection and we are now without a place to live as my house is sold. Im currently looking for a rental with extremely little time. I believe this company offers false promises and is a possibly scam. I would like them to reimburse me $500 for the inspection they told me I should do because I had the mortgage they never completed or told me I would have. They wasted 2 years of my life promising I would get this financing. They have done this to many others and they should be investigated . I believe it is a scam.

  Business Response

  Date: 01/10/2024

  We appreciate you taking the time to leave feedback and we apologize for the negative experience you had. We reviewed your file, and in this scenario, the initial information we received was no longer accurate once it went through our underwriting department. As your eligibility and loan approval status are determined by income, employment, credit, assets and other factors, any changes to this information during the mortgage process can affect the status of your loan approval. Again, we appreciate the time you took to share your experience so we can better educate and communicate with our customers in the future. We understand the importance of clear communication, and we regret any confusion that *** have arisen due to the changes in the information originally provided. Please reach out to *************************************************** with your contact information and the best time to reach you to discuss your experience in further detail.

• Initial Complaint

  Date:03/13/2023

  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.

  It all started in the summer of 2021. I was referred to ************************* at Hartford Funding. He sent a pre approval letter for in September of 2021.We found **** *********** ****** ** in October 2021 and planned to sell our home. It didn't, and we decided to go through *** for a mortgage and rent our home instead in November of 2021. The sellers gave us an extension to December 2, 2021. We put down $5000 for a deposit to buy the home. The entire month of November *** had all of our documents, and never submitted them to the underwriting. My realtor ******* ended up getting in touch with ***'s boss, ***********************, in order to get things expedited. Now everything ends up being submitted to the underwriters. *** was upset. Yet another extension from the sellers. The sellers agreed with another $5000, and we had to agree to forfeit the deposit if the loan didn't go through. I agreed due to the fact that both *** and the supervisor insisted that we would get the loan. *** emailed us a closing disclosure within days of the final closing date of February 4, 2022.Then at the last minute *** and ***** told us we couldn't close due to the investors guidlelines. In order to get our $10000 deposit and $95 for inspection/appraisal that we lost ***** told me that I should put a lien against the property. I sent the sellers several letters to ask for the money back. They would not return the money. My lawyer said I can't put a lien on the house. Coincidentally on February 10, 2022 *** sent another pre approval letter for more money than before, after it was too late. He had found a new investor that would approve us, and he asked that I not involve his supervisor. Once again, no loan. Then again in May of 2022 *** again sent us a new pre approval letter. Once again, no loans were provided. I want my $10000 deposit and $965 appraisal/inspection back . They are not competent, and I would like for the licensing department to be aware of this.

  Business Response

  Date: 03/22/2023

  It was brought to our attention that the borrowers *********** records included a history of foreclosure, although this was not reflected in the credit report, nor disclosed by the borrower on the signed application. The *********** report exposed a foreclosure history for two different properties, while one property met the lender's seasoning requirements based on the time elapsed for a foreclosure history, the other property located at **************** did not. The consumer's explanation letter denied responsibility for the foreclosure liability, and claimed that the debt was to be paid by the ***********************, her former husband. However, as per page 17 of the divorce decree, it clearly states the borrower was responsible for repayment and that the foreclosure auction was against *****************************. Therefore, the loan no longer met the lenders credit criteria.

  Customer Answer

  Date: 04/05/2023

  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:
  

  I do not accept their response. They absolutely did know about the foreclosure as they clearly state in their response. And, they did give me a clear to close a few days before the closing. Then right before the closing date they said they could not process the loan. They clearly reassured me that I would get the loan several times to me, Or why would I give $10000 to just lose it. That clearly wouldn't make sense to me. Also, after they denied the loan, they then gave me another preapproval for another home the next year. Why would they do that when I wouldn't get approved. ? They allowed me to lose all of that money given a false approval!!!!! That's is bad business..
  

  
  
   
  

  Business Response

  Date: 04/13/2023

  Upon receipt of the requested
  documents and executed disclosures, Hartford Funding submitted the loan to
  Underwriting and received a Conditional Approval Certificate from the Lender
  dated December 11, 2021.
  
  It was brought to our attention that
  the borrowers "Data Verify" records included a history of
  Foreclosure, although this was not reflected in the credit report, nor
  disclosed by the borrower on the signed application. The data verify report
  exposed a Foreclosure history for two different properties, while one property
  met the Lenders seasoning requirements based on the time elapsed for a
  foreclosure history, the other property located at *** ******* ***d did not.
  The consumers explanation letter denied responsibility for the foreclosure
  liability, and claimed that the debt was to be paid by ***** ******, her former
  husband. However, as per page 17 of the Divorce Decree, it clearly states the
  borrower was responsible for repayment and that the foreclosure action was
  against *** *************. Therefore, the loan no longer met the Lenders credit
  criteria.
  
  It is very unfortunate that *** ************* had to forfeit the $10,000 escrow deposit, however the loan no
  longer met the Lenders credit criteria due to the fact that the Consumer
  withheld the disclosure of her prior Foreclosure history.  The Consumer was aware of the possible outcome
  of the escrow deposit which is also referred to as the executed addendum #7 to
  the Contract which states the following:
  
  “This addendum is to supersede any and
  all previous addendums.
  
  This addendum is only in effect if the
  buyer makes the additional escrow deposit of $5000 by Tuesday 1:00pm 12/21/2021.
  Buyer and Seller agree, closing will
  take place on or before January 20th, 2022.
  
  Should the contract not close for any
  reason with no exceptions by January 20th 2022, buyer forfeits entire escrow deposit
  to the seller and buyer agrees Not to dispute distribution to the seller.”
  
  
  *** ************* also made reference
  to a $965.00 appraisal refund however there was an appraisal inspection of the
  property which was performed on January 8, 2022 therefore the Borrower was responsible
  for the cost as disclosed in the initial loan documents. *** ************* was
  sent a copy of the appraisal report on January 17, 2022.
  
  
  We trust that this response has
  addressed all of *** ************* concerns. Should additional assistance be
  required regarding this request, please contact us via the BBB portal. Alternatively,
  we may be reached by telephone at *************