Wintrust Mortgage

They hire incompetent people and do not help correct mistakes made by employees

I would stay away from this company...
Since the beginning we worked with a broker AND an underwriter closely so we would not run into any bumps or surprises. We got the final number and start looking for a house. We found one. Again underwriter reviewed everything, we are good with the offer we made. Great right?

We got all the inspections done, appraisal etc...
Waiting for underwriter signature...

What do you know he is really busy....
10 days later (Everyday we are promised that it is done tomorrow for sure) we still did not have a signature.
The sellers were very kind enough to wait for us.

Finally they came back with the answer
- we need upper level management signature...
Or, we would be good to go with 6% instead of %4?????

12 days later we have no mortgage and now they are trying to sell us a different package...

IF, we were to move forward only with our broker I would understand this...
But the SAME underwriter reviewed everything from day one and the last minute deal has changed.

Currently, we spent 3000 dollars for inspections and they are still trying to sell us a higher rate package but AND they are not sure even IF that is going to happen...
As if, all of a sudden I lost all my money, or economy collapsed or something..

I was good all along what happened now?????

Please take your business some place else as I intent to do.

Customer Service is absolutely the WORST I have ever experienced. You can't ever get a hold of a real person. Took 48 hours to get a return call about my mortgage that I unfortunately missed. I have now been on hold for 15 minutes. Previously left 4-5 voice message over the last 72 hours with no return calls. Would NEVER reccomend them

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We applied for a loan with another lender and got ignored by that lender. We are both actually still waiting for a response from them months later. We gave up on them and called 3 other mortgage companies and this representative answered his phone on a Sunday evening and gave us an approval over the phone after emailing some documents to him. We actually for 2 clear to close but not an official document until our lawyer had insisited on having one sent. It was kind of a hassle because they kept asking for the same documents that I had already sent making the process longer than should have been. I ended up sending them directly to the underwriter instead of the broker and everything was finalized the same day. Also, our broker sent unnecessarily rude emails to our lawyer and myself but never my husband. I forwarded all of the emails to my husband since afterall they contained information about our loan process. However, at the table we were estimated 2.2k lower so we had to go to the bank and get the rest of the money and come back with all of the money due. We got our first coupon at closing and never received anything after that except an ach form which we aren't comfortable in signing up for auto draft. We don't have paper checks and we had an incident with our bill pay service so I won't use that company. Wintrust still doesn't have an online payment option and the closest wintrust bank is 20 min away. They really aren't very convenient to pay the bill or up to date in the digital age.
Overall it was a great experience and everyone has been really professional and pleasant. I think that our bad experience comes manly from the one broker and the lack of convenience in paying the bill.

I am not sure where to begin, but I will begin by saying that I approached Wintrust for a portfolio loan. I am in the risk business and understand the analysis they complete. Therefore, it was very important to me to make sure both myself and the buyer are protected. To achieve this, I submitted requested documents early and within two hours of each request. Each submission was met with nearly a week of silence followed by an e-mail from the processor repeating the same conditions I satisfied from the last request. Please note this was following the receipt of a pre-approval 2 months in advance of close. We are now three days past close and I am in a hotel with my family who needs to start school Tuesday and we have no place to live. I asked for them to decline the mortgage and let me take care of my family by obtaining a rental. My originator said they would decline me today, but I received a call from his manager saying they would not issue a declination letter. Andrew indicated he would not provide a declination letter because I was approved. I proceeded to say let's close. He them proceeded to tell me it is approved with conditions, the same conditions we settled three weeks ago. I could write a book, but I have to approach more viable options to elicit a change in behavior. I can't believe what an individual, or this bank, is willing to put a family through to get what they want. I am really tired and want to share more, but frankly I have to save the e-mails, voicemails, photos, for additional actions against Wintrust. Quite frankly I grew up in Chicago and never experienced treatment like this from a company, especially one that really should want my business. I have purchased over 15 properties in my time. The fundamental communications, ethics, and ability to set appropriate expectations is frankly lost within Wintrust's business plan. Oh and not to mention they told me it was declined unless I upped my down payment from 10% to 20%. Not willing to do that, but still wouldn't give me decline letter.

My experience with Wintrust Mortgage is very negative. I recently bought home and worked with them for closing. If you are ready to get surprise at the closing table then only work with them. Actually I worked with Mr. Urvish [redacted] banker at Wintrust Mortage for closing my mortgage. I had bad experience with points and escrowing my.insurance monthly premium. When I locked my rate he told me no points but at the closing table I had to sign paper for 5 point towards locking rate. By the way their rate is not low compared to ouside market. Another thing they told me is no escrow insurance monthly premium but they did exactly opposite to that. I would advise to STAY AWAY FROM THEM if at all possible.

Thanks,