SoFi

Revdex.com:I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me. Sincerely, [redacted]

SoFi acknowledges the complaint from [redacted] and appreciates the opportunity to respond. SoFi regrets any frustration caused to the consumer and will gladly honor his request to be removed from all marketing lists.
SoFi understands the importance of this request and values the consumers right...

to privacy. SoFi can confirm that as of [redacted] address was removed from our mailing lists. However, as the marketing material for the month of March has already been moved to fulfillment, it is very likely that [redacted] will receive additional material this month.
SoFi regrets the inconvenience this situation has caused and appreciates his patience. Should [redacted] have any other concerns or questions we would invite him to reach out to us directly.

Initial Business Response /* (1000, 5, 2016/03/16) */
We appreciate the time that Mr. [redacted] provided us to further discuss this inquiry.
SoFi advertises a range of rates on our website along with the disclosure that "not all borrowers receive the lowest rate". We also include on the website the...

factors that an Applicant's rate is based upon.

Based on our underwriting criteria, a soft credit pull and application information provided by the Applicant, Mr. [redacted] was provided the pre-approval rates he was eligible for within our tiers of rates.

Initial Consumer Rebuttal /* (3000, 7, 2016/03/17) */
(The consumer indicated he/she DID NOT accept the response from the business.)
SoFi has refused to discuss the number of loans disbursed at the advertised optimal rate. This further leads me to suspect that the advertisement is a "teaser", and the allocation of optimal rates is not congruent with the applicant profiles. Given SoFi's obstinate refusal to divulge any information, I will be continuing to pursue this matter with Congressional inquiries to the CFPB. Their response was non-substantive, and I do not accept it.

Revdex.com:I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me. Sincerely, [redacted]

We appreciate the time provided by [redacted] to discuss his application and I extend my apologies for any inconvenience he has experienced. We work to deliver an exceptional customer experience to each of our community members and are pleased to have worked with [redacted] to resolve the...

concerns raised.

Initial Business Response /* (1000, 8, 2015/12/23) */
We appreciate the feedback provided by Ms. [redacted] and I extend my apologies for the inconvenience she
may have experienced.
While I am unable to discuss the specifics of this application due to privacy concerns, SoFi is pleased to have...

continued to work with Ms. [redacted] to bring the transaction to a successful conclusion.
Initial Consumer Rebuttal /* (2000, 10, 2015/12/24) */
(The consumer indicated he/she ACCEPTED the response from the business.)

Please close my complaint as resolved.

SoFi acknowledges the complaint from [redacted] are appreciates the opportunity to respond. After speaking with [redacted] regarding her experience we feel that we have come to an appropriate resolution.
On [redacted] applied for a student loan refinance and provided documents for...

review. During the review, SoFi requested documents multiple times to confirm the type of loan [redacted] was trying to refinance. [redacted] student loan is currently being serviced by a company that also services loans that are in collections and per our policy, if the loans are not currently in good standing they would not be eligible for refinance. Regrettably, SoFi advised [redacted] that we would not be able to move forward with the refinance application due to the nature of the company the loans are being serviced by.
After further investigation, and after speaking with [redacted], it was determined that despite the lender also servicing loans in collections her loans have always remained in good standing and are eligible for refinance.
SoFi regrets any frustration caused through customer service challenges as this isn’t indicative of the way we typically do business. We appreciate [redacted] taking the time to speak with us regarding her experience and is proud she has chosen to continue with the refinance of her student loans.

Revdex.com:I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me, provided they follow through. Sincerely, [redacted]

Initial Business Response /* (1000, 7, 2015/11/17) */
SoFi is pleased to continue to work with Mr. [redacted] on his application.
Each 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. [redacted] and I extend my apologies for any inconvenience he has experienced.

Complaint: [redacted]I am rejecting this response because:
I was told last week I didn't need employment verification. I said OK however if you need if you need to contact The Work Number as my Employer will NOT provide a verification. The woman on the phone said fine. I also uploaded an email stating such. When I chatted this week I was told the same thing. Again I repeated myself to contact The Work Number. There were two more emails stating the exact same thing.
I DO NOT UNDERSTAND WHY I AM BEING IGNORED TO GET YOUR WORK VERIFICATION YOU HAVE TO CONTACT THE WORK NUMBER. MY EMPLOYER DOES NOT PROVIDE VERIFICATIONS.
WHY IS NO ONE LISTENING TO ME?
I HAVE SAID THIS TWICE / EMAILED IT TWICE / CHATTED ONCE TO DO THIS.
WHY CAN SOFI NOT  FOLLOW SIMPLE DIRECTIONS? 
 
Sincerely,[redacted]

SoFi acknowledges the complaint from [redacted] and appreciates the opportunity to address it.
[redacted] was approved for a SoFi personal loan [redacted] and subsequently signed the loan agreement on [redacted]. During the loan funding process, SoFi attempted to verify the bank account...

information provided by [redacted] earlier on in the application process; however, the information was unable to be verified due to a minor typographical error by [redacted]. At SoFi’s request, [redacted] provided a voided check on [redacted] which contained the correct bank account information to allow for proper disbursement of loan proceeds. SoFi subsequently disbursed the proceeds on [redacted].
Interest accrual started on the date of disbursement, [redacted], in accordance with the signed loan agreement. It should be noted that the proceeds were issued on the [redacted] before a holiday which can cause a delay in bank processing times.
[redacted] was contacted by SoFi on [redacted] to explain the delay in funding after leaving a consumer review with the Revdex.com. SoFi explained that though the proceeds were successfully disbursed on [redacted], the holiday weekend may delay her bank’s deposit processing. As of the date of this complaint, the proceeds were successfully deposited to [redacted]’s account.
If [redacted] needs any further assistance, we can be reached at 855-456-7634 and would be happy to assist her.

We have since had the opportunity to discuss the inquiry with [redacted]
 
While we are unable to meet [redacted] request, we appreciate the time he provided to discuss the matter.

Revdex.com:I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me. Sincerely, [redacted]
 
I would like to add that SOFI honored the original rate and term of the loan and processed funding of the loan. I am very happy that they followed through as promised. Thank you.

SoFi acknowledges the borrower’s complaint and appreciates the opportunity to respond. We regret that [redacted] experience with SoFi did not meet her expectations. A 20-minute hold time is not a normal occurrence and we have addressed [redacted] concerns with the operators who assisted her....

[redacted] emailed us from an address which was not in our records. We take the security of our customer's private identifying information very seriously and will not provide account information until we are able to verify identity through several methods. A matching email address is one of those methods. [redacted] was approved for a personal loan on [redacted]. Per the loan agreement, signed by [redacted] on [redacted], payments are due on the 1st of every month. Her first scheduled payment was due [redacted], which was received on the due date. On [redacted], after missing the [redacted] payment due [redacted] called SoFi to schedule a one-time payment that would cover the past due amount from [redacted] as well as the [redacted] payment due on [redacted] On [redacted] called to advise that the payment scheduled on [redacted] was not going to clear, making her payment over 30 days late. During the call on [redacted] scheduled a new one-time payment to cover only the past due amount for [redacted]. On [redacted] SoFi received an e-Oscar dispute from [redacted].  After reviewing the facts SoFi determined that its reporting of the 30-day late status was accurate. We attempted to contact [redacted] on [redacted] to further inform her that the reporting to the credit bureaus would not be removed. We were unable to reach her, or leave a message. On [redacted] SoFi received an email addressed to our CEO regarding the situation. We responded and informed [redacted] that we had listened to the recorded calls as requested, and found no record of a promise or commitment to adjust or suppress the 30-day delinquency. Per section L of the loan agreement, which was signed by [redacted] on [redacted], SoFi may report information about late payments, missed payments or other defaults, which may be reflecting in [redacted] credit report, and will not reverse our reporting. SoFi regrets any misunderstanding regarding credit reporting and would encourage [redacted] to reach out directly to SoFi with any additional concerns.
 
Explanation of closure:
 
Although SoFi regrets any confusion that may have transpired, upon review of the facts, the delinquency in question was reported accurately to the credit agencies and will not be removed from [redacted] credit report.

Revdex.com:I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me. Sincerely, [redacted]

Complaint: [redacted]I am rejecting this response because: SoFi's reason for letting my loan application expire is due to them not being able to reach me via their normal process.  Their normal process is to contact the customer via the phone number in their profile.  In my case the phone number in my profile was a correct phone number and I DO receive voice mails on that number on a regular basis.  But in this case I never received a voicemail from SoFi so never knew that they were trying to reach me.  I contacted SoFi on three different occasions to check on this application.  I had originally applied for this loan at the end of November.  I checked back mid-December and was never told that SoFi was trying to contact me via phone at that time.  Then I contacted them again on Tuesday, December 26th and I talked to a customer service rep and she finally let me know that they were trying to contact me via phone.  I told her that I had not received any voice mails.  At that time, even if SoFi's records indicated that they had left voice mails, the customer (me) was calling saying I hadn't received any voice mails.  So there was a disconnect and something should have been done by SoFi.  The customer service rep should have notified the group reviewing the loan that I never knew that they were trying to reach me via an 800# (which if there is no voice mail I would never pick up) and they should have tried to reach out to me again.  SoFi did not try to reach out to me again after that date and they on Friday, December 29th the application had expired. And now they cannot get me the rate I had been previously offered. 
 
SoFi's response to me was that they followed their 'normal' process and since it didn't work then my loan expired.  What I do not agree with is that this wasn't a 'normal' application because obviously there was a disconnect and I, the customer, attempted to reach out SEVERAL times and they still let it expire.  I do not believe it is my fault for them not being able to contact me and feel that I should be able to get the rate originally offered and that I was approve for.  It was a SoFi rate, and since it was SoFi's fault I believe they should still honor it. 
Sincerely,[redacted]

SoFi acknowledges receipt of the complaint from [redacted] and appreciates the opportunity to respond.
[redacted] has applied for a personal loan with SoFi on multiple occasions and was declined. On [redacted] began an application and provided requested documentation. After careful...

review of the information provided by [redacted] we were unable to verify his income and employment. Based on this, the application was declined.
Most recently [redacted] applied on [redacted] and was subsequently declined on [redacted] after SoFi was unable to verify his income. [redacted] spoke with an Operations Manager on [redacted] who explained that SoFi was unable to verify the information provided and for that reason we would not be able to move forward with his request for a personal loan.
[redacted] did exercise his right to request the reason for the decline and SoFi has provided those reasons to him. We are happy to discuss any Further concerns with [redacted] if he would like; we can be reached at ###-###-####.

SoFi acknowledges receipt of the above referenced inquiry.
 
We have made multiple attempts to contact [redacted] to discuss his inquiry but have been unsuccessful on each occasion. I’ve have provided my direct contact information to [redacted] and would enjoy the opportunity to discuss this...

further.
 
SoFi works to deliver an exceptional customer experience to each of our community members and I extend my apologies for any inconvenience [redacted] has experienced.

Initial Business Response /* (1000, 5, 2015/12/29) */
SoFi acknowledges receipt of the above referenced inquiry.
We work to deliver an exceptional customer experience to each of our community members and are pleased to have worked with Mr. [redacted] to resolve the concerns raised.
We appreciate...

the feedback provided by Mr. [redacted] and I extend my apologies for any inconvenience he experienced.
Initial Consumer Rebuttal /* (2000, 7, 2016/01/04) */
(The consumer indicated he/she ACCEPTED the response from the business.)