Bank 34

When the [redacted] ’s applied for their loan, they had funds in savings but requested to use the Chenoa Gift Down Payment program that pairs with FHATheir qualifying ratios were too high and [redacted] explained the loan officer, he was a co-signor on one of his auto loans for his cousin, and instructed the loan officer to exclude the paymentWe removed the car loan payment and we were able to obtain an initial approvalWe pulled an updated credit report before closing, which is a required procedure, and the cousin had a recent 30-day late paymentBecause of the late payment, the guidelines no longer allow us to exclude that debt from our borrower’s qualification processTherefore, the only way to get the loan completed was for [redacted] to pay off some other debtThere was a point where [redacted] wanted to move his file to another lender and he requested the loan officer email his personal documents to that lenderAs the loan officer was starting to send some items to the other lender, the Branch Manager Gary B [redacted] , spoke with the borrower and they decided to continue with Bank The borrower approved the release of his escrow funds in the amount of $8,to the builder for an extension in order to secure the homeThe builder also added a daily fee for every day the loan went past the original closing date adding pressure to the situation Additionally there was a misunderstanding on the purchase price of the home and the seller creditDue to the confusion over the sales price, the appraiser had to go out twice to the propertyBank did give credits given to borrower, we did not fully charge the true cost of the appraisal or for the second visit by appraiser to verify completion It is unfortunate [redacted] feels he had a bad experience and for that I am truly sorryBank takes great pride in customer service and customer satisfactionI hope the [redacted] ’s enjoy their new home Sincerely, Jim L***

When the [redacted]’s applied for their loan, they had funds in savings but requested to use the Chenoa Gift Down Payment program that pairs with FHA. Their qualifying ratios were too high and [redacted] explained the loan officer, he was a co-signor on one of his auto loans for his cousin, and instructed...

the loan officer to exclude the payment. We removed the car loan payment and we were able to obtain an initial approval. We pulled an updated credit report before closing, which is a required procedure, and the cousin had a recent 30-day late payment. Because of the late payment, the guidelines no longer allow us to exclude that debt from our borrower’s qualification process. Therefore, the only way to get the loan completed was for [redacted] to pay off some other debt. There was a point where [redacted] wanted to move his file to another lender and he requested the loan officer email his personal documents to that lender. As the loan officer was starting to send some items to the other lender, the Branch Manager Gary B[redacted], spoke with the borrower and they decided to continue with Bank 34. The borrower approved the release of his escrow funds in the amount of $8,000 to the builder for an extension in order to secure the home. The builder also added a daily fee for every day the loan went past the original closing date adding pressure to the situation.   Additionally there was a misunderstanding on the purchase price of the home and the seller credit. Due to the confusion over the sales price, the appraiser had to go out twice to the property. Bank 34 did give credits given to borrower, we did not fully charge the true cost of the appraisal or for the second visit by appraiser to verify completion.    It is unfortunate [redacted] feels he had a bad experience and for that I am truly sorry. Bank 34 takes great pride in customer service and customer satisfaction. I hope the [redacted]’s enjoy their new home.   Sincerely,   Jim L[redacted]