ComplaintsforLower.com

• Initial Complaint

  11/04/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  I recently refinanced my old Lower mortgage loan. ****** ******** paid it off on 10/11/22. However, Lower has yet to return me the money that I had in my escrow account and it is reporting I was more than a month late on my October payment, although the loan was paid off in full by ****** ******** when my refinance closed. I provided this information to ***** ***** at Lower on October 26 and I was informed that it was being forwarded to a manager to resolve this mistake. I asked for an update on October 31, but received no response. My Lower account now shows I owe October and November mortgage payments. I just want my old Lower account to show closed as the loan was paid in full by ****** ******** for the escrow funds to be issued to me.

  Business response

  11/14/2022

  To whom it may concern:

  On October 11th, 2022, the payoff funds for Mr. ****’ account was received at the Lower’s office in Columbia, MD. Unfortunately, the Columbia, MD office does not process payments, or payoffs.
  The payoff funds were sent to the servicing office in Kennesaw, GA on October 13th, 2022.
  Due to lack of information from the check received, it seemed the funds had already been processed internally.
  On November 8th, 2022, the servicing team was notified of the payoff funds not being applied to Mr. ****’s account.
  On November 9th, 2022, the payoff funds were located and subsequently applied to the account.
  Late fees have been waived and the credit reporting has been updated to reflect Mr. ****’s credit removing any negative reporting to the Credit Bureaus.
  On November 11th, 2022, the servicing manager has placed a rush to have escrow funds of $2,716.12 sent to the customer. Tracking Number: **** **** ****
  
  We sincerely apologize for any unmet expectations regarding Mr. ****‘s experience relating to the servicing of his mortgage. Our team will continue to keep him posted of any material changes to his account. Mr. **** is welcome to reach out to our offices directly if he has any additional questions

  Customer response

  11/22/2022

  I accept the business's response to resolve this complaint. My concerns have been addressed and resolved. 
  Regards,
  
  ****** ****

• Initial Complaint

  08/24/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I applied for a Lower HELOC late June 22 and was told it would take 30 days to fund. On July 18th I received an email from Lower stating that due to high demand it would take "120 days or more to close and potentially longer to access funds". I then applied for a HELOC with another company only to discover that my home owners insurance now has Lower listed as a 2nd mortgage. All this without me signing closing documents. Now I'm concerned that Lower may be a fraud company.

  Business response

  08/30/2022

  Our Company appreciates Mr. ******* ****** (“Borrower”) taking the time and submitting his application concerns to our attention. We apologize for any inconvenience regarding his interactions with his assigned mortgage loan originator, as stipulated in his complaint. It is never our intention for our customers to feel as if they did not receive the necessary duty-of-care from our licensed employees.
   
  Mr. ****** states in his complaint on 8/24/22 after applying for a HELOC with another lender that he was notified that his homeowner’s insurance listed Lower, LLC as a second mortgagee. We want to assure Mr. ****** that there was no lien added as his loan with Lower, LLC was not consummated.
   
  A Customer Care Representative attempted to contact Mr. ******'s homeowners’ insurance, Towne Insurance Agency, LLC via phone to address their discrepancy in reporting the mortgagee clause on 8/24/22.
   
  In reviewing the events surrounding Mr. ******'s experience with this particular transaction, we can understand his frustration and dissatisfaction with Lower and it is never our intention for our valued customers to feel as if they did not receive the level of service they anticipate. This matter has been submitted to senior leadership, and we continue to evaluate Company processes in how Lower employees communicate with their customers. We wish Mr. ****** the absolute best in his financial endeavors.

• Initial Complaint

  08/17/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I connected with Lower.com on June 21, 2022 to start the process of applying for a HELOC. Over the next week, my home's value was checked along with my credit. All paperwork was submitted and an email was sent on July 5th that the initial loan review was underway. I was not made aware of any issues and was told multiple times that closing would be in about 3 weeks. Roughly two weeks into the process, I was informed that Lower.com had a problem with it's investor that does the actual HELOC and that timelines might be longer. Right before that notification, I told another lender I didn't need them and was going to do the HELOC with Lower.com. Now I am being told it could be 120 days more which is literally 5X longer than what I was told originally. I have no idea on what is going on with the HELOC except for being told I need to wait. This is creating financial burdens and I have no idea if I need to move on or what needs to happen. I'm curious if I was purposely misled during the application and Lower.com knew of the problems and delays prior.

  Business response

  08/23/2022

  Mr. *********** ********
  Loan Number: *************
  Subject Property: **** ******** ** ******** ** *****
   
  Dear Mr. ********:
  We sincerely appreciate Mr. *********** ******** (“Applicant”) taking the time to express his concerns regarding his experience with Lower, LLC (“Company”) and the processing of his loan application.  It’s never our intention to add undue stress when our consumers seek financing options to accomplish their goals and we regret any unmet expectations.
   
  On July 18, 2022, Lower’s Customer Care Department sent correspondence to the Applicant apprising him of unexpected delays in consummating his transaction, which was primarily attributed to unprecedented adverse market changes. Rest assured, Mr. ********’s comments were escalated to the appropriate senior and executive leadership for review.
   
  If Mr. ******** has any additional feedback or concerns, he may contact us directly at 833-920-2273 or [email protected].  In the interim, our offices will do everything possible to ensure his transaction continues to escalate through our typical origination processes, and we will notify the Applicant of any other delays.
   
  Once again, we sincerely apologize for any inconvenience. Your feedback is valuable to us.
   
  Thank you,

• Initial Complaint

  08/17/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  I was working with their representative very professional and we set up the re-finance a month prior to when we could submit it. once submitted we had a few hoops to jump through i.e. termite inspections and appraisal and a few other normal mortgage details. I was told i would be closing at the end of the month. Then steps in a very unprofessional non organized processing team that seemed to not care and were disgruntled. I had to constantly reach out to the first rep for information and the new team didn't respond or update and seemed to not know how to do their jobs. i had to get the information for them . on 3 occasions i was given yes we are going to close tomorrow or today but in the end it took the first rep calling me and explaining . I received no official explanation or apology. this has caused me a financial burden and emotional stress. I tried to work with my current mortgage provider but am unable to due to the credit score drop due to lower. I want to avoid any legal action so a speedy resolution with LOWER is Ideal.

  Business response

  08/23/2022

  We appreciate the feedback Mr. ******* ******* (Applicant) provided to our Company. We sincerely apologize for any miscommunication or understanding between his mortgage loan originator (MLO). We understand how frustrating that must have been and we regret any unmet expectations in Mr. ********* application process.
   
  The Compliance and Customer Care Departments reviewed the transaction, and the contents of Mr. ********* concerns were shared with the appropriate departments. On August 18th, 2022, our Vice President of Lending spoke with Mr. ******* and confirmed that the loan team was working on a resolution to fund this transaction. The assigned MLO reported on August 23rd, 2022, that they are working to update this loan application based on the complex federal laws that can change over time without notice.
   
  We appreciate Mr. ******* making us aware of his experience. Rest assured, our Company strives to continually provide excellent customer service to all its applicants, and we apologize for any inconvenience his experience may have caused.

  If Mr. ******* has any additional feedback or concerns, he may contact us directly at ###-###-#### or [email protected]. In the interim, our offices will do everything possible to ensure his transaction continues to escalate through our typical origination processes, and we will notify the Applicant of any other delays.
  

  
  

  Customer response

  08/23/2022

  I accept the business's response to resolve this complaint.
  Regards,
  
  ******* *******

• Initial Complaint

  08/16/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  2 issues i was promiss through a refinance to receive 36 thousand back **** ******* and team felt strongly that i will meet requirement due to high equity on current home and credit . In no circomstance did they said it will be base on appraisal. That being said appraisser matthew said it went real well house looks great. I payed $520 for an appraisal and stil they have not giving me a copy of appraisal. I find it very unprofessional that they where so concerned on charging me $520 for appraisal and now i know why i feel this company are scamming people. I would like my $520 back and my appraisal that they so dont want to give. Please help

  Business response

  08/30/2022

  We sincerely appreciate Mr. ****** ******** (“Applicant”) taking the time to express his concerns regarding his experience with Lower, LLC (“Company”) and the processing of his loan application.  It’s never our intention to add undue stress when our consumers seek financing options to accomplish their goals and we regret any unmet expectations.
   
  Our Customer Care Department escalated this matter to senior leadership and our Vice President of Lending left Mr. ******** a voicemail on August 29th letting him know that his appraisal is still under review and we will send him his appraisal as soon as it is ready.
   
  In reviewing the events surrounding Mr. ********** experience with this particular transaction, we can understand his frustration and dissatisfaction with Lower and it is never our intention for our valued customers to feel as if they did not receive the level of service he/she anticipates. This matter was previously discussed with senior leadership, and we continue to evaluate Company processes in how Lower employees communicate with their customers.

  Customer response

  09/08/2022

  lower.com is saying there waiting for apprasal to be review . Still have not got it i feel there are delaying process so i cant use apprasal for another refi compay due to delay and law i feel they need to reimbuse my $520 apprasal fee reason being it wont be a recent apprasal anymore
  
  Regards,
  
  ****** ********

  Business response

  09/20/2022

  We understand Mr. ****** ********** frustrations regarding this matter. We have attached Mr. ********** appraisal that we have on file for his records. From our records, Mr. ******** did not return any communication from his loan team. 

  Customer response

  09/21/2022

  Regards,
  Lower.com is the loan  team i have no way to get the loan team to do anything thats lower.com responsibility the fact is lower.com had to send me the apprasal there violating the law at this point i cant even use that apprasal anymore with was in my rights they did it on purpose further action will be taken .
  ****** ******** 

• Initial Complaint

  08/11/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Hello To Whom, it May Concern: This company contacted me on April 27th, 2022, for a refinance of my mortgage. At first, I was like no, but was talked into refinancing and paying off a lot of credit card debt in which I agreed to do. I'm a retired Army vet so I decided to do a 100% VA refinance. So, I got all the paperwork like they have wanted, and this company has been dragging their feet for months now. When I say months, I mean months like April 27th and now it's Aug 11, 2022. 4 months of dragging their feet. So finally, on 9 Aug 2022 I signed closing documents via email thinking I'm done and fixing to close. I was told I was going to sign closing documents this week Aug 11,2022. This is even stated on the closing paperwork I signed. Well Lo and behold the underwriter needs more paperwork. How am I signing closing paperwork and now they are running around getting more paperwork?? The loan has been passed around to 3 different people and other people are putting their hands on the loan and I'm guessing people are wanting other things. Don't these people have any sense of organization? Maybe someone needs to get out a cheat sheet and go down the document list to make sure everything is checked off. I know I have given the same paperwork 2 or 3 times to these people. IE like the insurance declarations page they just wanted this again after I signed the closing documents. Really??How do I know because I have kept everything on my email from day one. I'm used to keeping my records, because of me being in the Army. I also used to be in the Army and a recruiter, and we used a checklist, and it works. Maybe this company should invest in one or their representatives are not using them. I'm really tempting to go somewhere else with my business, because I'm about fed up with this place. Respectively an old disabled Army Vet!!!

  Business response

  08/17/2022

  Our Company appreciates Mr. *********** ****** (“Applicant”) taking the time to submit his concerns to our attention. We apologize for any inconvenience regarding his interactions with his assigned mortgage loan originator and loan team, as stipulated in his complaint. It’s never our intention for our customers to feel as if they did not receive the necessary duty of care from our licensed employees. Lower® strives to provide the best service for any individual applying for a mortgage loan and all customer feedback is taken seriously. This matter has been discussed with senior leadership, and the MLO assigned to Mr. ******** file. The assigned MLO has communicated with Mr. ****** to resolve this matter.  We continue to evaluate Company processes in how Lower employees communicate with their customers. 

  Customer response

  08/23/2022

  There was no resolving with refinancing my mortgage. Matter of fact I will not ever mention this mortgage company to none of my veteran friends ever. Because of their like of knowledge of VA loan procedures. I went with another mortgage company and was approved and I'm closing within 2 weeks of completing an application with them. I spent over 4 months with this company and got nowhere. Also, if upper management was really involved then I'm sure I would have gotten my loan approved in a timely manner. This company has been nothing more than a pain in my side. They need to reread and reread what the rules are with VA mortgages. This other mortgage company pretty much started laughing when I told them what I had went through with this company. Trust me when I say this if you are a veteran stay clear from these people it's been nothing but a complete joke for me.
  
  Regards,
  
  ***** ******

• Initial Complaint

  08/08/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I closed on May 13th, 2022 for a HELOC and Mortgage Refinance. Despite asking multiple times where closing costs were coming from they never provided a clear answer. Later after expressing if i'm paying for closing costs out of pocket I'm not interested. They instead pushed the closing costs through to the HELOC instead which is predatory in my opinion. They also made an error on my closing documents and during the 3 day period I attempted to call the company several times and never received an email or call back to rectify the issue. I actually never received a call back from the company at all following closing.

  Business response

  08/16/2022

  Firstly, we thank Mr. ********* ***** (“Borrower”) for taking the time in submitting his concerns to our Company’s attention. We can understand his frustration, and we too understand that the various promulgated federal and state fee disclosures issued to applicants under regulation may be overwhelming at times. As such, we expect our licensed employees to review such documents with their clients to ensure they understand the terms and conditions of a proposed mortgage debt prior to consummation. Provided the contents of Mr. *****’s complaint, his transaction was escalated to the management of his loan team and the Customer Care Department to identify any policy or procedural disparity.
  
  Mr. *****’s complaint detailed that he was not provided a clear explanation of where his closing costs were going to come from. As Mr. *****'s did not want to pay of closing costs out of pocket, the costs became included in his HELOC. Mr. *****’s stated in his complaint he attempted to contact the company during the three-day rescission period and did not receive an email or callback to rectify the issue.
  
  Mr. ***** closed on his loan on May 13th, 2022. Mr. ***** called the Customer Care Department once on July 7th, 2022.
  
  On July 7th, 2022, Mr. *****’s called the Customer Care Department and spoke to a Customer Care Representative stating he had received his first interest bill for his HELOC and inquired where his HELOC funds were. The Customer Care Representative explained that Mr. *****’s HELOC was set up as a future advance and was not set up to receive funds at closing or after closing. The Customer Care Representative confirmed that the funds of the HELOC were sitting with the Department of Commerce Federal Credit Union and that Mr. ***** would be able to access those funds once his HELOC had been onboarded with the servicer.
  The Customer Care Department has no other communication attempts from Mr. *****.
  
  We appreciate Mr. *****’s time in bringing his concerns and we value his feedback. We also sincerely apologize for any miscommunication or confusion experienced by Mr. ***** during the course of finalizing his transaction. We encourage Mr. ***** to reach out to our Customer Care Department ([email protected]) if he has unanswered questions. 

  Customer response

  08/18/2022

  [If you do not say why you are rejecting the company's response, BBB must close your complaint.] 
  
  Complaint: 17686214
  
  I am rejecting this response because: The information is inaccurate that they provided. I expressed that if I'm paying closing costs I'm not interested knowing that I recently closed less than 12 months prior. I also have an email of when I reached out to Ignatius and Logan through email on May 13, shortly after closing documents were signed. I also have pulled my phone records to show where I also called both of their personal phone numbers and left a voicemail and never received a response back. The instance they mentioned was well after the loan was sold. To add another complaint, I was told I had the ability to refinance for life using the program I was in by Logan. My loan was sold within the first month but I'm also sure I won't be able to refinance after they've sold the loan to *******. The calls are recorded on their line, I'm sure it's possible to vet these. I don't have a lot of confidence that they have though. 

  
  Regards,
  
  ********* *****

  Business response

  08/23/2022

  We thank Mr. ********* ***** (“Borrower") for taking the time to reiterate his concerns in regard to his transactions.
   
  Federal and state fee disclosures issued to applicants under regulation may be overwhelming at times, but are there to protect the consumer, as they provide detail and transparency in regard to the loan details.
   
  Federal and state disclosures were provided and signed by Mr. ***** and Mr. ***** did arrive at consummating his loans.
   
  We can advise Mr. ***** that he can still participate in Lower's free refinance for life considering Mr. ***** continues to qualify for the requested loan product.
   
  We appreciate Mr. *****’s time in bringing his concerns and we value his feedback. We also sincerely apologize for any miscommunication or confusion experienced by Mr. ***** during the course of finalizing his transaction. We encourage Mr. ***** to reach out to our Customer Care Department ([email protected]) if he has unanswered questions. 

• Initial Complaint

  08/05/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  On 8/4/2022, I received a letter stating that Lower, LLC experienced a data breach in December 2021 and an unauthorized actor accessed the Lower network and removed certain files from the network. My information was part of this breach. Since I have never heard of Lower, LLC, I've tried researching them to see how they would have my information in their records. It looks as though they are a home lender or facilitator of home loans -- I have not used a home lender in many years. I cannot locate a Lower, LLC phone number to inquire where and why they have my personal information. I want to know WHY Lower, LLC has my information, WHERE they got my information and in WHAT manner have they used my information?

  Business response

  08/09/2022

  We thank  Ms. ********** for notifying us of re*eipt of the data brea*h letter, regarding an in*ident in De*ember 2021, and for expressing her *on*erns. We were able to *onne*t with Ms. ********** and informed her Lower LL* is the parent *ompany of Homeside Finan*ial. We were able to *onfirm, that in September 2017, Ms. ********** initiated a mortgage appli*ation with Homeside. This was why she was notified via a letter through our third-party provider regarding an in*ident in De*ember 2021.  We sin*erely apologize for the *on*erns this *reated and appre*iate the feedba*k provided. If she would like to provide more information, please *onta*t us at your earliest *onvenien*e at ************ or ***************
  Thank you - Lower.*om *ustomer *are

  Customer response

  08/11/2022

  [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
  
  Better Business Bureau:
  
  I accept the business's response to resolve this complaint.
  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. ↩