ComplaintsforVisio Lending

• Initial Complaint

  01/11/2024

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I was working with Visio Lending on a loan I had been pre-approved for via a broker (*************************). I submitted all requested documents in a timely manner. However, due to Visio Lendings inability to review documents in a timely manner the first close date for the loan was missed - Jan 2nd. I was able to get an extension to the loan to Jan 5th, Visio Lending once again missed this close date due to their inability to deal with the insurance items in a timely manner. Their loan processor *************************, sat on documents for weeks on end and only started to ask questions at the last minute. **** not follow their own process of them working with the insurance broker directly to get details ironed out in a timely manner. This only started to happen after I had written negative reviews for the company and a gentlemen by the name of ********************* got involved. This is when things moved on the loan. In the meantime, Visio had missed 2 close dates and the seller was unwilling to extend further, so I offered $5,000 to get an extension to January 31st (as I did not trust that Visio could close this loan and I would need to get another loan company). I have requested that Visio pay this $5,000 during my close since it was their team's incompetence that lead to the need for me to ************ deal somehow. They finally gave me an approval on January 8th after numerous emails and pushing and ultimatums. I have now incurred an additional cost of $5k due to their inability to do their job as described. They have yet to tell me how and why their team failed to meet the first deadlines when all documents had been given to them in a very timely manner.

  Business response

  01/22/2024

  On Friday, January 12, ****, Visio Lending notified ************ that her application for a mortgage loan was being denied based upon her conduct. Visio Lending has provided her with an appropriate denial letter as well as a written response as to the content of her various inquiries. A member our management team also reached out to her by telephone on the same day to communicate the decision to discontinue all business dealings.
  
  As provided to ************ in writing on January 12, ****, we provide the following response to the BBB in connection with Ms. ***** complaint.
  
  Our original Welcome email was sent to her mortgage broker and forwarded to her attention on November 17, 2023,outlining the insurance requirements of our loan programs. On November 28,2023, we received an email from her beginning with So we may have a problem on insurance.  As she noted to us then, the California Fair Plan was undergoing changes and had been Slow, very slow. On December 7, 2023, we received the contact information for the insurance agent at State Farm, under the California Fair Plan, that had been assigned to assist ************. It was not until Wednesday, December 20, 2023, that we received the initial insurance quote from the California Fair Plan. This would have been the earliest Visio Lending could have been suggested changes necessary to meet Visio Lendings insurance requirements. Visio Lending was closed on Friday,December 22, 2023 for the Christmas holiday but the required changes still were submitted by her insurance agent on December 22, 2023, just two days after receiving the initial quote from the California Fair Plan. Follow-up was made with the insurance agent on December 29, 2023, regarding the outstanding items as it relates to changes to the policy. On the date of her original online ****** Business review, January 4, ****, Visio Lending loan processors followed up with the insurance agent, confirming once again that despite his absence that insurance policy changes were submitted and still pending update by the California Fair Plan. As of January 8, ****, the requested insurance policy changes had been completed by the California Fair Plan, a timeline entirely outside of the control or oversight of Visio Lending. All requests appear to have been made in a timely manner, pending appropriate action from the receiving parties,including the California Fair Plan.
  
  As to her various requests for compensation, modification of the loan terms,or reimbursement of her expenses, Visio Lending respectfully declines to provide the requested accommodations. Further, as stated previously, we have decided not to move forward with the loan due to her conduct, which we consider to be unreasonable, harassing, and abusive.
  

  Customer response

  01/23/2024

  Complaint: 21117590
  
  I am rejecting this response because what they have provided is not a truthful depiction of the reason for denying the loan, I will respond with an additional lettering with the timeline and copies of all emails that lead to the approval of the loan.  Which they then denied AFTER receiving the letter from the BBB.  ********************* also called me that day to tell me on the phone the reason for the denial is that I had filed the complaint with the BBB.  Their response does not state any of these facts.  They are retaliating against me for my right as a consumer to file a complaint against them.  I will respond with the exact detailed timeline and copies of all communications - which they have neglected to share with you.
  
  Regards,
  
  *******************

  Business response

  01/23/2024

  ************* was notified on January 12, ****, that her loan was denied because of her behavior,officially documented as Other-Abusive Conduct and a response was provided outlining the timeline of events as it relates to the collection of her insurance information. That response expanded upon the reason for denial to note her conduct has been unreasonable, harassing, and abusive. That same day, I confirmed by telephone that her BBB complaint was received and that her loan was going to be denied as Visio Lending chose to no longer engage in business with her. She responded by email twice, to which I responded on January 12, ****, and January 15, ****, again confirming that the reason for her denial is as provided in writing. At this time, Visio Lending believes this matter has been resolved and has no further information available.
  
  Respectfully,
  *********************
  Director- Visio Lending

  Customer response

  01/30/2024

  Complaint: 21117590
  
  I am rejecting this response because details to follow in a follow up communication. 
  
  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. ↩