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SoFi Reviews (141)

Initial Business Response /* (1000, 7, 2015/11/13) */
Contact Name and Title: *** ***
Contact Phone: XXXXXXXXXX
Contact Email: ***@sofi.org
SoFi acknowledges receipt of the above referenced inquiryWhile I am unable to discuss the specifics of the application due to privacy
concerns, SoFi is pleased and we appreciate the opportunity to be able to continue to work with Ms***
Every application is highly individual, varies in complexity and SoFi works to deliver an exceptional customer experience to each of our community members
We appreciate the feedback provided by Ms*** as well as her patienceI extend my apologies for any inconvenience experienced
Initial Consumer Rebuttal /* (2000, 9, 2015/11/16) */
(The consumer indicated he/she ACCEPTED the response from the business.)
Although it took a month, their IT finally emailed me a link in order for me to be able to start the application process last weekI have now applied and am awaiting further instructionsSoFi's manager, ***, kept me abreast of IT activities about every seven days or so

(The consumer indicated he/she DID NOT accept the response from the business.)This response doesn't resolve anythingI provided a state issued driver's license, utility bills, and even a passportSoFi can even verify these accounts are mine against my credit reportIt seems like there is an error with the "number of third party verification channels" you are usingIf you contact me about the verification, we can get this resolved very easilyI would be willing to provide any number of documents to SoFi to verify my identity, as well as meet with a representative in personYour response indicates that you don't want to resolve this issueIs that true?

Social Finance, Inc(“SoFi”) *** ***, Thank you for taking the time to let us know about your recent experience with SoFiUpon submission of your application, you were offered a conditional pre-qualification contingent upon the verification of the stated informationWhen an application for a
Student Loan Refinance is submitted, we offer a conditional pre-qualification with or without a cosigner or we decline the application and provide a notice of adverse actionIf a conditional pre-qualification is offered, we then begin the process of verifying the information providedTo go from a conditional pre-qualification to a funded loan, we must be able to verify all stated information, including income, employer, education, etcwhich is based on our credit policyIn addition, the primary borrower must be old enough to enter into a binding contract in their state of residence, but we do not consider age beyond that pointIncome verification is based on the documentation receivedIn your case, you were conditionally pre-qualified with a cosignerWhen a cosigner is added, we have to verify all information as stated and that the cosigner is eligibleThe reason we are unable to move forward with your loan is we cannot verify your cosigners income as statedYour conditional pre-qualification was contingent on us being able to verify the amount indicated on your applicationThe agent you spoke with gave you correct information regarding your declineHere at SoFi, our goal is to always provide an exemplary level of customer service and regret your experience left you with a negative impressionHowever, a conditional pre-qualification does not guarantee you will be offered a loanIt is simply the first step in our processWe attempted to reach out to you but were unsuccessfulWe invite you to reach out to us with any additional questionsWe are happy to help

SoFi acknowledges the complaint filed by *** *** and appreciates the opportunity to respondWe are currently in communication with *** *** and working towards a resolution
On *** *** *** was approved for two separate Parent PLUS Refinance LoansThe two loans were funded on *** and
*** and were transitioned to our servicing partner SoFi ***, where the loans were on boarded into one account with two unique sequence numbersOn *** SoFi contacted *** *** and advised the loans could be serviced separately once the first payment is made on themAfter the first payment is made the due date for one of the loans may be adjusted at which time he may supply servicing instructions for each loan
We appreciate *** *** bringing his concerns to our attention and encourage him to reach out should any additional questions or concerns arise

Social Finance, Inc(“SoFi”) appreciates the consumer taking the time to review our response to their original complaintWe have confirmed that voicemails were left on 12/05, 12/07, and 12/09, to the phone number provided by the applicant, ending in ***We received an email from *** *** on 12/in which she requested to know how long the review status usually takesWe let her know that reviewing times may vary, but recommended that she gave us a call at her earliest convenienceWe heard back from *** *** on 12/In this conversation she let us know that her primary number was her home phone which she hardly usesWe encouraged her to update her phone number to one where we could reach out to herThe application expired on 12/29/We regret the frustration that was caused as a result of thisWe have communicated with *** *** how she may move forward, and encourage her to reach out to us with any further questions

SoFi works closely in connection with the credit bureaus to obtain information in order to offer pre-screened mailers.
We apologize for any inconvenience MrPiunno has experienced with regard to this matter, and have met *** *** request that future mail offers not be
sent

Complaint: ***I am rejecting this response because:They flat out lied per their response to the Revdex.comSincerely,*** ***

Initial Business Response /* (1000, 5, 2016/01/20) */
Contact Name and Title: ***
Contact Phone: ***
Contact Email: ***
SoFi acknowledges receipt of the above referenced inquiryWe appreciate the time Ms*** took to provide this feedback
While I am
unable to discuss the specifics of the application due to privacy concerns, SoFi is pleased to have continued to work with Ms*** to bring her transaction to a successful conclusion
I extend my apologies for any inconvenience
Ms*** may have experienced

SoFi acknowledges receipt of the above referenced inquiryWe work to deliver an exceptional customer experience to each of our community members and are pleased to have worked with *** *** to resolve the concerns raised

SoFi acknowledges receipt of the above referenced inquiry
We work to deliver an exceptional customer experience to each of our community members. Our records indicate that once all pertinent information was obtained from MrT*** the welcome bonus was paid out shortly thereafter.
We have made several unsuccessful attempts to contact MrT*** confirming the matter has been resolved.
We apologize for any inconvenience MrT*** experienced with regard to this matter

We appreciate the time provided by *** *** to discuss his application and I extend my apologies for any inconvenience he has experienced. Each application is highly individual, varies in complexity and SoFi works to deliver an exceptional customer experience to each of our community
members. We are pleased to continue to work with *** *** on his application

Initial Business Response /* (1000, 6, 2015/11/17) */
SoFi acknowledges receipt of the above referenced inquiryWhile I am unable to discuss the specifics of the application due to privacy concerns, SoFi is pleased to have continued to work with Mr*** to bring his transaction to a successful
conclusion
Every application is highly individual, varies in complexity and SoFi works to deliver an exceptional customer experience to each of our community members
We appreciate the feedback provided by Mr*** and I extend my apologies for any inconvenience he experienced
Initial Consumer Rebuttal /* (2000, 7, 2015/11/17) */
The matter has been resolved and I received the quoted rateThanks so much to Revdex.com for facilitating this outcomeI truly appreciate it

SoFi appreciates the opportunity to respond to the concerns of the ComplainantThe policies that SoFi has in place are in no fashion made to encourage anyone to lose their source of income, but are in place to give a clear understanding of what would make one eligible for a forbearance or deferment, and ensure that all applicants are evaluated fairlyAlthough the Complainant and the Primary are a married couple, and may combine earnings for household purposes, the Complainant’s information was not used to decision the loanTherefore, any changes to the Complainant’s information would not constitute a change to the loanSoFi reached out to the Complainant to explain the reasoning for the inability to grant an exception on ***A call was placed on *** upon receiving the updated communication that the Complainant was still interested in speaking with a decision-makerAt the time of the call, the Complainant expressed that they did not wish to speak further and wished to end the callSoFi regrets any frustration regarding its policies for approving forbearance or deferment, but will not be granting an exception, as the Complainant is not the primary holder or cosigner of the loan

Complaint: ***I am rejecting this response because:
This is simply an unacceptable stanceThe company either didn't disclose at all or made a concerted effort to hide the fact that they would be going against a widely established norm in the credit industry. They are taking advantage of me as a customer now that I'm locked into one of their credit products, and are clearly violating the spirit of consumer protections and credit reforms of the last several years
Sincerely,*** ***

Complaint: ***I am rejecting this response because:
This is age discriminationYou are an embarrassment of a company, terrible startup, under so many investigationsThe culture at SoFi is a mess, and whomever is responding to this email is complicit in their negligence.
Sincerely,*** ***

Social Finance, Inc(“SoFi”)
*** ***,
We appreciate you taking the time to provide your feedbackWe regret any lack of communication from our representatives as it should have been stated that the documentation provided was insufficient, and that the verification was still necessaryDespite the delay to perform the verification of employment, your loan was completed and signed on 1/17/We appreciate your willingness to work with us and welcome you into the SoFi communityWe appreciate the time you took to let us know of this issue to further improve our communication processThis helps us improve our quality of serviceWe encourage you to reach out in case of any further questions or concerns

Complaint: ***I am rejecting this response because:SoFI, does not disclosure to applicants prior to applying that they you not credit commission income, which are contributed to gross income to the same standard as regular salaryIn my case, I submit two applications in which I verify income with pay stubs and wOn the 2nd I included rental income with and rental agreementI was not credited for the commission or income, which cause the declined applicationSoFi offered me a application, stating they saw an error in how the commission and income was credited in the previous applicationsI declined their offered because I never would have applied with there company had I known they did viewed commission income different for salary income, bear in mind I have been a salesperson for over yearsI am able to verify all of my incomeI requested that SOFI remove the application inquiries from all credit bureau with letter explain that they did disclosure in detail their application underwriting for salary and commission based applicantsThey are refusing to take corrective action to resolve the matter
Sincerely,*** ***

Revdex.com:I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution is satisfactory to me. Chris Parker was a great help in this process. Sincerely, *** ***

SoFi acknowledges the complaint and appreciates the opportunity to respond. Upon a review of [redacted] account history, SoFi can confirm that there were no payments processed for his account on 2/28/** or 3/9/[redacted]. SoFi has asked for, and received, copies of the checks that were meant to be...

applied to [redacted] loan account. However, these checks were processed by a financial institution that SoFi does not currently use for payment processing, which prompted the recommendation that [redacted] reach out to his financial institution to gain further assistance in locating the funds that were sent on his behalf. SoFi’s recommendation is that [redacted] financial institution compare the endorsement stamps from prior successfully-made payments to the payments in question to confirm that the funds were not processed by SoFi. Although SoFi cannot directly intercede on [redacted] behalf to help locate the funds that were sent, SoFi is actively working with [redacted] to help find a resolution.

Hi [redacted] - I would have never thought of sending the Revdex.com this complaint until I Googled SoFi and found others who have complained. It appeared in the complaint that SoFi claimed that they fixed the problem some time ago. They didn't. They get lots of positive Internet Publicity but they are a very...

immature company. In my opinion they do not have sound business processes and they need them being in a financial services company. I expect them to act as a bank and they don't.Do not believe them when they say they have put processes in place and are monitoring them for compliance they do not. We still haven't heard from them regarding the loan application that we completed for the 3rd time one week ago.Thanks,[redacted]

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Address: 6175 Main St STE 490, Frisco, Texas, United States, 75034-3441

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