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Goldwater Bank, N.A

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Goldwater Bank, N.A Reviews (1)

GOLDWATER BANK? Re: File # [redacted] Dear Ms [redacted] : Goldwater Bank, N.A., - Mortgage Division (Goldwater) is in receipt of your complaint filed with the Revdex.com of Ohio on May 5, related to origination activities conducted by this company.? The complaint alleges a misrepresentation of the interest rate and the appraisal fee related to your application.? Our investigation revealed that you did in fact originally discuss a HARP loan that would not require an appraisal and then at some point very early in the process, you were advised that you would not be eligible for a HARP loan, but we could proceed with a Conventional Jumbo loanIn reviewing the file, you were sent a Loan Estimate dated 2/28/that reflected your rate at 3.875% and was not locked and the Interest Rate Lock/Float Agreement that you were sent simultaneously also did not reflect a lock date or expiration date (copies enclosed)It appears that Goldwater was unaware and upon your return of the Interest Rate Lock/Float Agreement you signed on 3/2/2017, you put your initials under "Lock" and not "Float".? We acknowledge that throughout your discussions, you clearly indicated that you wanted a 3.875% interest rate and it was also the goal of your Loan Originator, Gabriela N***, to obtain that rate; however, your file was a brokered file and it could not be locked until it met the investors policies, procedures and guidelines for doing soThe fact that it was brokered was also reflected on the Loan Estimate that shows the lender as [redacted] ***and the Addendum that shows Goldwater Bank as the Mortgage Broker.? Unfortunately, this rate was not offered with the lender to whom your loan was brokered nor are we able to originate the loan internally or with any of our other lenders due to underwriting constraintsWe vigorously attempted to obtain pricing from that lender as you requested; however, we have been unsuccessful in those attemptsAgain, we apologize as this does appear to be an isolated incidentThis matter will be addressed internally as this is not our practice.? We also acknowledge that you were told there would not be an appraisal fee which is would be typical of a HARP loan; however, once your loan became a conventional jumbo product, we should have notified you that an appraisal would in fact be required.? Goldwater Bank takes all complaints of this nature very seriously and we apologize that this was not communicated earlier In the process and for any inconvenience this has caused youShould you have any questions on this matter, feel free to contact me at [redacted] .? Sincerely,? Sharon L***SrRisk Manager, VP sl/tsa Encl.? [redacted] ?

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Address: 23500 Mercantile Rd., Ste B, Beachwood, Ohio, United States, 44122

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