Lone Star National Bank* - Corporate

Good Morning, I apologize for the delay and wanted to give you an update We are still investigating the complaint to ensure that we are taking every action possible to make sure that this issue is rectified We are at the final phase of providing a response and will keep you updated If you have any questions, please let me know Thank you,

If you are looking for a commercial or residential loan do not come here! This is the 3rd time we have used this bank for a commercial loan and it will be the last We figured the repeat business would expedite the loan process but this was not the caseWe have excellent credit (800+) and all of the prior loans we had with Lonestar bank were paid off early We were pulling out loans for an acquisitionThe Properties were put under contract and closing.was scheduled days after the effective dateBefore finalizing the real estate contract we called the bank to see if the closing date was doableThe bank assured us this was plenty of time to close both loansHowever, the loans took close to days to completeNot only is this unacceptable but it caused problems with the sellers and forced us to pay additional money to secure the propertiesBecause the deals didn’t close as promised by the bank in a timely manner, we were forced to pay an additional $5k on top of the the agreed upon sales priceWe should not have had to pay the extra money, but if we hadn’t the deal would have been deadWe asked the bank to take the $5k off our loan, which we would not have had to pay had they executed things as promised to both us and the seller, but they have not agreed to do soDo yourself a favor, save yourself the stress and go with a bank / company that can communicate clearly and follow through as promised

Dear Sir/Madam:
This is a formal response regarding [redacted]'s complaint to the Revdex.com regarding unsatisfactory customer service/payment amount on her Mortgage loan with Loan Star National Bank.
Prospective mortgage borrowers are provided with preliminary disclosures which reflect an estimated proposed monthly payment, which consists of principal, interest, taxes and insurance.  When there is a change, such as a change in loan product, loan amount, interest rate, term, etc., we are required to re-disclose documents.
[redacted] applied for an [redacted] loan with Lone Star National Bank on [redacted] and the preliminary disclosures for the [redacted] loan contained a principal and interest payment (P&I) in the amount of $[redacted].  However, the [redacted] loan was not approved on the interim financing.  [redacted] was notified of the denial on [redacted].
On [redacted] applied for a one-time construction closing mortgage product, which is an interest only loan for the first twelve months to allow for the completion of construction loan based on drawn amounts.  New early disclosures were provided to [redacted] with the new estimated proposed monthly payment of $[redacted].  At the time of closing the final principal and interest monthly payment (P&I) was $[redacted], which [redacted] reviewed and signed all required documentation at the time of closing.
[redacted] contacted our Mortgage Sales Manager on [redacted] regarding her concerns and out Mortgage Sales Manager visited and explained why her payment had increased.  In addition, it was explained to her that her current homeowner's insurance policy is excessively high for the value of her home and obtaining a suitable homeowner's insurance policy for the value of her home would result in a lower monthly payment.
[redacted] agreed and informed our Mortgage Sales Manager that she will be shopping for a new policy tailored to the value of her home.
We retained the documentation to support our comments in our records and are prepared to provide any further information if you need it.
Sincerely yours,
[redacted]
President

Good Morning,  I apologize for the delay and wanted to give you an update.  We are still investigating the complaint to ensure that we are taking every action possible to make sure that this issue is rectified.  We are at the final phase of providing a response and will keep you...

updated.   If you have any questions, please let me know.  Thank you,