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Complaint Details
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Initial Complaint
05/15/2024
- Complaint Type:
- Billing Issues
- Status:
- Resolved
I have no contract with this business and would like them removed off of my credit report. I have never signed a contract with them *** would like a copy of the contract. Immediate removal of this company off of my credit report!Business response
05/29/2024
Hello,
Unfortunately we do not have any mortgage applications or a record of any credit report pulled in the name of ******************. It may be a different company she is referring to as Southwest Funding, LP does not conduct business in the state of VA. However, if ************** feels this is accurate information we would need to see the page on the credit report so we can confirm it was Southwest Funding that pulled credit or a different company.
Thank you,
*********************
Customer response
05/29/2024
I have reviewed the business response and accept this resolution. I do apologize and hope this does not affect you in any way, this is the wrong company. I send my sincerest apologies.Initial Complaint
09/26/2023
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
My daughter worked with ************************* in the ***********, ******* office in August 2023 after being told by another lender that a co-signer would be required. ****** gave her a pre qualification letter and told her that she absolutely would not need a co-signer. Less than 2 weeks from our closing, he reneged and said that underwriting was requiring one. Had he done this in advance, we never would have gone with him as she would have qualified for a much cheaper loan at a conventional bank or credit union using me as a co-signer. Because we did not have time before the closing date to qualify elsewhere, we had to go ahead with it. What followed was an unmitigated disaster. ****** was non-responsive when we asked for a closing estimate with no points; by the time he did respond, interest rates had jumped 50 basis points. He was administratively sloppy, accidentally sending my Social Security disclosure form to a random person in his email list. Finally, he was late in getting needed documents to the title company, at which point they discovered missing information required by ******* law, necessitating the delay of our closing. ****** texted me and actually asked me to lie to the title company so that closing would not be delayed. I would like an adjustment and refund of some of the loan costs: half of the points paid ($2485) to reflect the delay in the estimate we asked for prior to the increase in rates and a refund of the loan origination fee ($995).Customer response
12/26/2023
I am confirming that the business has not been in touch with me.Business response
12/29/2023
Hello,
In response to this complaint we have reached out to the Loan ******** ************************* and the following is his response.
The mother of the client is the one issuing the complaint but she was not involved in the initial conversation with the daughter (our client) and ******. This is why she states she was not told or knew about the possibility of a co-signer and she would not know this because she was not there. So shes making all of these complaints based on assumptions and/or comments she may have heard or misinterpreted from her daughter.
Our client was told from the initial pre-approval that using the bonus income was questionable and they would have to let the underwriter review all the documents. Our client was aware and had a back up plan of adding her grandmother as a cosigner. In addition, the loan officer was never told the loan was previously denied with another bank/lender.
The mother decided to get involved later in the process and was very combative through out the rest of the loan process, she ended up being the cosigner on the loan as well.
The rates did go up from the initial pre-approval, this does happen, especially in the recent market, rates go up and down daily. The Branch Manager made concessions on this loan to reduce the rate as much as possible for this client, so much so that there was no profit made by the branch for closing this loan.
We are sorry this client's mother had a bad experience, this is definitely not the intention and everything was done on our end to rectify the rate increase as much as we could given the current market conditions.
Initial Complaint
06/03/2022
- Complaint Type:
- Product Issues
- Status:
- Resolved
After submitting W2's, check stubs, bank statements & pay summary, one of SW Funding's agents, Jerome, pre-approved my fiance, a veteran, for a loan in Nov '21. He even increased the amount an extra $5k. We found a house in March. Once Jerome and a realtor they referred us to, Miles, assured us we were good on continuing the process on buying the house, we put down $3k as earnest money to hold the house. Our initial closing date was 5/4/22. My fiance was given the runaround by Jerome, Brian, & Nia, who all work for SW Funding, since putting down the earnest money. No one was ever on one accord, every time they contacted my fiance, it was about submitting new documents since they kept losing the original documents given to them. Everytime we asked for a list of documents needed to close, they couldn't give a straight answer. The last week before our closing date, they informed my fiance of a debt from 10 years ago they said needed to be paid off before closing. We used $5k of our money to pay that off, just for them to come up with another reason on why we couldn't close on the house. By this time, we had to extend our closing date. Every document we submitted to SW Funding wasn't good enough according to them due to lack of comprehension on their end, or simply because they don't keep up with paperwork. Fast forward...we ended up having to extend another week for closing since they are never available to take our documents before close of business so we end up having to wait the next business day. By this time, the seller is frustrated & wanting to take another offer. We were promised by Jerome & Miles if we paid the debt, they would reimburse us $1,500, which never happened. The seller gave us by 5pm 5/12 to decide if we were good to close. We contacted Nia, Jerome & Brian to see what else was needed to close on the house but they couldn't give us a direct answer. The seller took another offer & we were denied the loan by SW & lost our earnest $. We will be suingBusiness response
07/20/2022
Business Response /* (1000, 5, 2022/06/13) */ Thank you for letting us know about your experience with our company. We understand how the mortgage loan process can be frustrating and we apologize that we were unable to complete your fiancé's transaction. Southwest Funding, LP strives to provide a welcoming process for all homebuyers. We are unable to provide specific information regarding this transaction, as a response to your online review, due to privacy laws. If the consumer who applied for the mortgage with our company would like to speak with us, we are available Monday through Friday from 8:00am to 5:00PM CST. We will be happy to discuss any issues with the consumer. Unfortunately, we will not be able to discuss the loan file with you as you were not the consumer on the transaction. Consumer Response /* (2000, 7, 2022/06/14) */ (The consumer indicated he/she ACCEPTED the response from the business.) Consumer will contact SouthWest FundingInitial Complaint
05/31/2022
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
I feel like I'm being pulled around in every direction. Also I feel the underwriter to my loan is being mismanaged.Business response
08/03/2022
Business Response /* (1000, 7, 2022/06/22) */ I apologize your experience with our company did not provide the outcome you were anticipating. As discussed previously when you telephoned our corporate office every attempt was made to resolve your issues both at the corporate office and with the branch manager. Due to privacy laws I am unable to discuss specific information in this public setting. If you would like to discuss this further please contact the corporate office and we will be more than happy to go over your mortgage loan application and file to discuss specific information with you.Initial Complaint
12/27/2021
- Complaint Type:
- Service or Repair Issues
- Status:
- Resolved
My family and I have been trying to close for a few weeks and keep getting put off due to the underwriter we are suppose to close tomorrow at 11am and still haven't got the clear to close and this is the 3rd closing date we want answers and to close. This is extremely unprofessional.Business response
02/10/2022
Consumer Response /* (2000, 5, 2022/01/04) */ This is ***** ****** and our complaint was addressed directly from the company thank you for your time. Sent from my iPhone
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Customer Complaints Summary
6 total complaints in the last 3 years.
2 complaints closed in the last 12 months.