ComplaintsforCFBank
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Complaint Details
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Initial Complaint
07/12/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
I received a loan from this company. They released monies to the contractor for work he did not complete. When Ivstop the work for poor workmanship.I provided them with a new quote to complete the space. The VP has not offered to refund my monies or make it right.Business response
07/22/2024
We are in receipt of the complaint from your office regarding case #********.
Thank you for sharing this submission with us. Since the loan originated, the Bank has worked closely with this Borrower and the selected contractor. The loan documents and construction drawings have been provided to and approved/signed by the Borrower. The Bank continues to work with the Borrower and will continue to do so until project completion.Initial Complaint
06/17/2024
- Complaint Type:
- Customer Service Issues
- Status:
- Answered
I am writing to formally lodge a complaint against CF Bank regarding their business practices, specifically concerning excessively long wait times and what I perceive to be unfair credit practices. I have encountered persistent issues with their customer service. From bait and switch with their product availability to their seemingly unwillingness to be transparent.
The primary concern is the unreasonably long wait times experienced when applying for a DSCR cash out refinance loan. Additional details attached.
I sent an email 3 days later asking for specifics of why the loan was denied and HAVE NOT RECEIVED A RESPONSE. I am owed an explanation as to what on my credit file made them deny the loan. I want to know what took a conditionally approved file to denied after submitting the req docs.
The whole interaction with this company has been beyond horrible. They should be ashamed to even call themselves a community bank.
As a real estate investor I have worked with numerous lenders through various fix and flips and property holds and have never experienced anything like this. In regards to the property I found it easier to just pay it off for $25k and am in the midst of working on a SMOOTH transaction with *****.
Between CFBank being unwilling to disclose why the loan was denied and the pathetic service I wouldnt recommend CFBank to anyone ever.
I am deeply troubled by what appears to be unfair credit practices employed however. I have encountered difficulties in securing fair terms for the loan application or even basic consistent terms on the investor specific financial products. This has led to frustration and severe financial inconvenience, which I believe is unacceptable from a small lender purportedly committed to serving its community.
Business response
06/25/2024
Will this complaint be public information? Debating on the level of detail to go into and whether or not to attach the statement of denial.Business response
06/27/2024
Thank you for contacting CFBank, we are in receipt of the comments. The customer has been contacted directly by Management. The information was provided on 6/10/24 verbally and mailed on 6/24/24.
If you have any questions, you are welcome to contact CFBank directly at ************.Initial Complaint
01/26/2023
- Complaint Type:
- Service or Repair Issues
- Status:
- Resolved
We closed on our home purchase in Apr of 2022. Monthly mortgage payment includes escrow funds for taxes and insurance.
Over the summer our property taxes were due and our city was never notified by the lender that a mortgage was on the home with an escrow account. At that time I had to call in almost daily to get CF Bank to pay our city taxes. They finally did.
Now our winter city taxes are coming due and the city still hasn't been notified of the mortgage or escrow from CF Bank and I cannot get a hold of anyone from CF Bank to get this taken care of. Our account number with CF Bank is *********2.
The whole point of an escrow account is so that I don't have to worry about making tax payments on the home and for the two times they are due it has been a headache on my part to ensure the city gets paid. Our property taxes are due in the beginning of Feb. 2023 and CF Bank has our money, but has been unresponsive in ensuring the City will be paid and notified that they are the ones who should be billed, not us.
Business response
02/21/2023
From: '*** ******' via Dispute Resolution - Shared Inbox <[email protected]>
Date: Tue, Feb 21, 2023 at 9:07 AM
Subject: Complaint ID 18920029
To: [email protected] <[email protected]>
Cc: *** ****** <*********@cfbankmail.com>
Good morning, Ms. **********
We are in receipt of your letters dated January 27, 2023, and February 2, 2023, regarding Complaint ID 18920029. We worked directly with the customer to resolve the issue.
Please let me know if you have any concerns.
Thank you!
*** ******
VP, Compliance & CRA Officer
P: ###-###-####
E: *********@cfbankmail.com
Nasdaq: CFBKInitial Complaint
11/28/2022
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
I received loan for construction for my medical facility. Following signing of the contract, the bank has refused to release the funds for payment to the contractor. Everything I provide information, the bank asks for something else. Now they are asking for information that was given previously. When I reach out to ******** ***** she never returns calls and returns approximately 3% of my emails. I have paid for many items out of pocket and with interest rates increased would be clear penalized if I choose to seek funding elsewhere.Business response
12/12/2022
**************
Thank you for contacting CFBank, NA. We are writing in response to the complaint you forwarded to us regarding service issues which we received December 6, 2022, for review.
Please accept this correspondence as our confirmation that we have received the expressed concerns sent on behalf of the client. Please be assured that we have been in continuous contact with the customer and will reply to the concern directly to the customer by telephone or written communication.
Should require any further assistance, please contact us.
Sincerely,
Compliance Department
CFBank, NA
*************************Initial Complaint
11/22/2021
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
We have had a first mortgage with CF Bank for 15 or so years. We recently refinanced with another institution. Our house insurance was due in October which the money is held in escrow by CF bank and they have always paid the insurance premium. We got a notice from the insurance company that the premium was not paid. All my phone calls and all the phone calls from the insurance company are sent to voice mail and no one calls us back. What have they done with all my escrow money? Are they going to pay the taxes? Has someone embezzled all the escrow money?Business response
12/07/2021
Thank you for contacting CFBank NA through the Better Business Bureau. We appreciate your comments and concerns and understand your frustration regarding the issues with your escrow account. Your request for reimbursement has been processed. We regret any inconvenience you have experienced and are sorry to hear that we did not live up to our standards of providing high-quality, personalized service.Initial Complaint
08/12/2021
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
My Mortgage company has failed to pay our Property Taxes on time and failed to pay our homeowners insurance from the escrow account that they currently hold. We pay them our escrow amounts every month yet they fail to pay our obligations. When trying to reach them on the phone, the only message I get is to email them...there is no one to talk to. I then emailed them multiple times to close my escrow account so I could pay my obligations on time but have only received a response to send them a copy of the insurance statement and they would reimburse. This is not how a mortgage company should be acting when needing to pay property taxes and home owners insurance and I can do a better job.Business response
08/17/2021
Thank you for contacting CFBank NA through the Better Business Bureau. We appreciate your comments and concerns and understand your frustration regarding the issues with your escrow account. Our Consumer Loan Operations Team has been in contact with you and has processed your request for reimbursement. We regret any inconvenience you have experienced and are sorry to hear that we did not live up to our standards of providing high-quality, personalized service.
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Contact Information
Customer Complaints Summary
6 total complaints in the last 3 years.
2 complaints closed in the last 12 months.