Loan Simple Reviews (%countItem)
Loan Simple Rating
Address: 9635 Maroon Cir Ste 100, Englewood, Colorado, United States, 80112-5927
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I have had a very poor experience with Loan Simple and the loan officer assigned to help me. During the first few telephone calls I explained my complete financial situation including how/where most of my down payment was coming from. My loan officer assured me that he was experienced with my situation and that there would be no problems with finding a loan and completing the purchase of my house.
We worked together for nearly 8 weeks verbally and in writing where I answered all questions about my finances and provided all paperwork. It wasn't until after the I purchased the appraisal he dug into my down payment and had lots of questions, which I answered. I was reassured again that everything was going fine and my loan application was now being submitted to underwriting. A few days later I was bombarded with more questions and statements from the loan officer about my down payment. The statements he made in the email communication were egregious. It appeared he never listened to me or read any of my previous emails and had no idea what he was doing. He did list out options for me, but bottom line was that I couldn’t use the money I had be saving as my down payment. I terminated services with Loan Simple with the agreement that the fee for the appraisal would be refunded.
Four months later I still do not have the refund of the appraisal. I’ve reached out to the loan officer multiple times with no response. I have escalated my concerns surrounding like loan officer directly with Loan Simple and as of today I await their response.
I’ve written this review because I felt taken advantage of and would like to express how difficult it has been working with Loan Simple. I understand my loan officer doesn’t represent the company entirely however they do represent the company. My loan officer failed to listen to me or treat me with respect. I felt like I was strung along for eight weeks then had the rug pulled out from under me and this whole experience I’ve had could have been avoided if I was told up front the options. I hope Loan Simple as a company provides more training to it employees on how to speak with their consumers to improve the consumers experience.
My recent experience with Loan Simple was far less than acceptable or satisfactory.
I started working with a loan officer from loan simple in Plano, TX on June 13 2018 and throughout the entire process I provided all information in a better than timely manner to this loan officer upon every request of his (even when requested multiple times due to his lapse of memory) we had a close date for August 24th 2018 (11 weeks from the start of our loan process) Due to this loan officers lackadaisical attitude and his "oh we have plenty of time" mentality we were informed two days before close that we would not be able to close on our scheduled close date. This was because he had forgotten to request my COE for VA, certificate of occupancy and final inspection of the home. We started out with a very good feeling about this loan officer and his capabilities but, after the first two months we started to grow very concerned about his ability to "get the job done" His attitude had also drastically changed over time to the point that it was very unpleasant to talk with him.
In the final week of our close date approaching it was very apparent he was not on track and had dropped the ball severely with our loan application so I reached out to the CEO of Loan Simple to ensure we would not have any issues at closing. I am very fortunate I did because we would've been in a very bad situation had I not done so.
This barely scratches the surface from our overall experience and hindsight I wish that I would've made the choice to go to a different lender once all the signs started to show this was going to be a very unpleasant experience.
This review is not intended to discredit Loan Simple but, rather voice my experience and make it clear that this was one the most stressful, nerve racking experiences I've ever experienced with making a purchase of any kind.
Mr.-
We’re very sorry to hear that you had a less than excellent experience. We know there are a lot of lenders to choose from and we really appreciate that you gave us a chance to help you out.
Unfortunately, it looks like we fell short of the excellent experience we strive to provide and for that we give our sincere apology.
We did contact the Loan Officer in question and we can tell you this particular Loan Officer receives high praise historically and was also very troubled to learn of your frustrations.
The following his his response:
The original contract closing date was 8/31/2018. We closed the loan and funded on 8/24/2018, a full week before the contract closing date. This was a build job (finish out on a spec home) with the builder that I do substantial business with.
In fact we set the loan up in processing and requested all documents necessary for underwriting on 7/17/2018 and did not receive them from Mr. until 08/10/2018 in order to submit for underwriting approval. Despite the delay on the buyers part, we were able to get the loan completely approved, closed and funded on 8/24/2018 - a full week prior to the scheduled closing date.
With regards to requesting multiple items more than once, that is simply a case of Mr. not providing the requested documentation, not a case of the loan officer's failing memory or lackadaisical attitude. My goal on every file is to make my buyers comfortable with the process and project a sense of urgency regarding the documentation needed from them along with my urgency to get them to a closing position within the confines of the sales contract.
Certain documentation needed can be difficult for the buyer to understand why it is needed and difficult for the buyer to produce the proper requested documentation.
I do my best to be very clear about the specific documents we have to provide. Unfortunately, Mr. repeatedly provided documents, that in his judgement, matched our request - they did not.
I simply had to request these documents multiple times before he complied with the correct documentation.
Despite closing a full week prior to the contract closing date, it appears that I was not successful with Mr. based on his complaint.
It’s unfortunate to hear that this was the net effect of our transaction because I enjoyed working with Mr..
We at Loan Simple wish Mr. the best of luck in any future mortgage endeavors
Although the lending agent was pleasant, this company was a nightmare to work with. At first we were promised that there would be no loan transfers for a year, but now we have been moved twice and we haven't even made our second payment yet. When I called to find out what was going on, I was told that was just business. I get selling loans, but not so quickly and so often. They can't get it right and their communication makes it difficult for a person to keep up with things. I like to pay online, and now I have had to send in autopay requests three times. This is time consuming and frustrating, and the company just says, "We're sorry." I am glad to be done with them and just hope the new company is a little better organized and customer friendly. We own three homes and have never dealt with a loan company like this one. Good luck to anyone who chooses to use them.
Cheryl-
We’re very sorry to hear you had a bad experience with Loan Simple. We know there are a lot of lenders to choose from and we appreciate you giving us a chance.
Unfortunately, you did not have the experience we strive to provide and I’m hoping at this point your problems concerning payment(s) have been sorted out. We apologize for the delay in response as we just learned of the concern.
I don’t know what title company closed your loan but I can tell you that in the closing package Loan Simple provided to you there are several forms you sign that explain that your loan will be sold. In fact, there is a transfer agreement that is signed at closing that states the loan is being transferred/sold.
Title is a third party and we at Loan Simple don’t have control of the Closing Agent provided by title. I’m not sure why anyone at title told you it wouldn’t be sold as it states clearly in your closing package from Loan Simple that it will be sold.
Loan Simple is not in control of what happens when the loan is transferred. That is also a third party vendor.
In fact, transfers happen with the majority of lenders as the servicing of loans is frequently transferred. We do not have control of the secondary market for the servicing of loans at Loan Simple.
We’re sorry you had a bad experience and that it looks like someone at title gave you information that contradicted the documents you signed concerning the transfer of your loan.
We hope you have a better experience in the future.