Customer ReviewsforWaterstone Mortgage Corporation

Painful process and I underwriters seem to be very confused I had to get multiple cashiers checks and was given the run around through the entire process with the underwriters. Chaotic and disorganized process would not recommend.

****, we are sorry that you feel the process was disorganized and chaotic. We do strive to provide every customer with the most timely, clear, and concise information throughout the transaction. Some transactions can be more challenging than others, especially dealing with multiple agency guidelines and overlays. Our underwriters do their very best to streamline the process for our customers, while focusing on 100% compliance. We appreciate your feedback, and we were very honored to have helped you with your financing.

It took over 4 months to close on a straightforward construction loan due to wild incompetence of staff. This delayed construction significantly and then Waterstone layered on considerable financial penalties when we were not done with construction a mere 6 months later. Deceptive rate-lock setup not in favor of borrower/buyer and used in a sneaky way to lock borrower into rigid penalties well under the allotted 12-month construction term. We feel extremely taken advantage of. Even our attorneys contract review prior to signing didnt catch the sneaky ways they built in completely asinine and unrealistically rigid penalties into the construction process. How would you like to have a lender take 4 months to close on your loan and then charge you $4,000 minimum for not being done with construction at month 6 post-closing? And $4,000 is just what well be charged to extend for a single month into month 7 of construction. But that cost repeats each month beyond the 6 months. So if we take 8 months to build, it will be close to $10,000 penalty. We are blown away. Thats the service we are talking about here. Avoid them if you dont want to go bankrupt building a modest house.

Waterstone Mortgage is pleased to have been able to speak with this consumer at great length to help clarify and analyze the details of the transaction, perception vs cause of delays and the accurately disclosed fees associated with a rate lock extension.

Mike ***** is 100% the BEST decision I have made. His team helped me through the whole process with my USDA Rural Loan. I was closed and in my new house in less than 2 months. AND.. Mike and his team, after two years, are still supporting me, and still answer questions and give great advise. Bottom line, these people know their jobs, very professional and honest. If I had to do it Again, Id make the same choice.************ ******* *** *****

Thank you so much for the 5* review, ****! We're so glad to hear your experience with ******************* and his team was fantastic! We will always be here to support you!

Fantastic mortgage company and people working there, but beware - they will sell your mortgage before you can even make a payment. They sold mine to a company called ***************** the most incompetent mortgage investor I've ever dealt with. Check out their ratings here on Yelp. Almost all 1 star. Their customer ********************** has disrespected me and won't help me. I've been trying to get my Veteran's tax exemption for months. They keep taking tax funds out of our mortgage that I don't even owe, and I keep emailing them my Tax Exemption certificate but they won't answer my emails. I spend hours on the phone just to talk to them, but their customer ********************** is absolute garbage. No one there cares about us. They are being paid with the interest we pay, but they just couldn't give a c*** What a horrible loan servicing department. I'll never deal with them or Waterstone again. Waterstone told me, quote: "We love our investors." Really?

Hello Lynne. We are sorry for the challenges you’ve experienced with the new servicer. We remain committed to providing you top notch service and communication, and we’d be happy to help you navigate through whatever issues you may still be having. Please feel free to call our Customer Relations Manager at 262-701-5925. Thank you.

Joey was extremely helpful and very easy to work with. He called every week, made sure everything was understood, sent emails. Easy to connect with and very knowledgeable. He has a great team. I am so blessed to be in my new home and it was an easy process thanks to Joey and his team.

Thank you for your 5* review, *****! We are so glad you had a wonderful experience with **** and his team! Enjoy your new home!

For me, this company was about the only shining star in a very difficult transaction. Issues with seller, both agents, and numerous mistakes. Michael who I dealt with was very helpful and patient. Yes, the company is out to make money. I still don't understand some of the policies that govern the mortgage business today. However, in the end, good service from Waterstone.

Thank you for the 5 Star Review, ***! We're so happy to hear everything went well with your purchase, with the help of ******* and his team. We hope to work with you again in the future!

Waterstone Mortgage had been recommended to me by several different people when I first moved to **. I contacted Jason **** a year before I was ready to start house hunting. He took time to listen to me and gave me great advice. When I was ready to start looking, I went back to him. My first concern was to understand how much I could borrow. I made three offers before I was successful. Each time, Jason and his team were able to get the paperwork together to make an offer, inspite of the short time frame and being a weekend. The informative material provided by Waterstone was almost overwhelming, however, it was very important to read through and understand. My questions and concerns were addressed quickly and professionally. I was impressed with the service I received. I would use them again and will recommend them to my family and friends

Thank you for the 5* review, *******! We really appreciate it! I hope you are loving your new home, it was a pleasure helping you and if you ever need anything in the future, please don't hesitate to ask.

This company is so disorganized, unprofessional, and it's representatives are RUDE. When I bought my home, within days they flipped the loan to another company, yet continued to call me daily, soliciting "mortgage protection" which I already have. The amount of phone calls and mail I received bordered on harassment. Each and every time I spoke to someone on the phone, I requested that my number be removed from their calling list, which they never do. They also insisted that I called them (why would I do that?!?!?!?) and were adamant that I had applied for their mortgage protection program. I would not recommend Waterstone to anyone, under any circumstances. My experience was chaotic and miserable.

We apologize for the frustration you've been experiencing, ******. We can assure you that Waterstone Mortgage does not offer mortgage protection plans post-close, and the solicitation calls you've been receiving are coming from a third party company not associated with Waterstone Mortgage. You are a valued customer and we appreciate having worked with you on your home loan. If you wish to discuss this further, please contact our Customer Relations Manager at ************. We'd be happy to speak with you.

I would never ever refer this company to my worse enemy. Disclaimer I did work for this company for almost 8 years. I worked with Jordan in the Marshfield office. I went to him because I thought he would treat me good considering all I had done for him as his underwriter, that was a mistake. I was looking to buy a 2nd home and reached out to him for rates. His first response to me was we should de this as a primary home since the rates and pricing was better. Being an underwriter I knew this was fraud and told him no. Once we found that we could get internet at this property we did decide to move and make it our primary. Our loan flipped from FHA to conventional due to some repairs. I had asked twice that Jordan call me to discuss rates. this never happened and I found out I was locked from the closer on the file. When I complained to the processor about that she had Mary, their customer service manager call me. When I chuckled at her response that she knows how I feel, she got snippy with me and told me I offended her personally, because I know her. That should not have mattered. I was a customer and should have been called to discuss rates. I asked her if she thought it was ok for the rate to be locked without discussing it with me and I received no answer. I then just said have a good day (sarcastically) and said all i want to do is close so I can refi with a better lender and a better rate. RUN as fast as you can from this lender

Waterstone Mortgage takes the allegations set forth in this review very seriously. We appreciate having already spoken with you at great lengths several weeks ago.

This was the most “painful “ process for purchasing our home. Our mortgage handler was awful. She was rude, threatening, careless and very unprofessional. Every time something was due to her, it was always stated “if you don’t do…you will not get your loan”. Instead of working with us, she made us anxious and constantly worried. I would NEVER recommend this company, nor Heather C.

We appreciate having spoken with you about the details of your transaction and the level of service and communication you feel that you received. At Waterstone Mortgage, it is our goal that every customer walks away feeling as though they've been treated with the utmost respect and professionalism. We are sorry that you feel as though we fell short, however, we are extremely happy and appreciative to have helped you achieve your financing goals, and we hope you are very happy in your new home!