Summit Mortgage Corporation Reviews (%countItem)
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Summit Mortgage Corporation Rating
Address: 6432 River Rd, New Port Richey, Florida, United States, 34652-2205
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Hello there, my name is *** and I started a loan process with Summit Mortgage approximately 3 months ago. I started working with Mike N. and more notably Ms. Sarah C., Branch Manager of your New Port Richey, FL location. For 3 months I have done everything that was asked of me by your company. I received a pre-approval, shopped for homes, found homes, made offers, had an offer accepted on a home located at *** XXXXX about 2 months ago, etc. I proceeded to have an inspection performed, leave a deposit, appraisal, etc. My loan type changed several times at the hands of Ms. C. I started with a USDA Zero-Down and last ended with a FHA. I was told each time that I "qualified". Make a very long story short, about a week and a half ago, Ms. C. told me that she did not receive an automated approval from Fannie Mae. When asked if she could call them, she responded with "Unfortunately, there is no way to contact them directly". Turns out, that same day, I myself contacted them directly and was informed Exactly of what was going on. In fact, by the end of our phone conversation, the rep with Fannie Mae named Chris, told me that they do not recommend Fannie Mae to consumers! That's something you should be really uneasy about. I found out that I never from day 1 met Summit's requirements. Ms. Sarah C. led my family on for 3 months and had me fork over money that I struggled to come up with for a very false reality. Ms. C. clearly has shown that even with her 20 years in this business, she lacks customer service, empathy and professionalism. She has over and over gone back against her original word. All emails have been saved since Day 1 to show the inconsistencies and unprofessionalism, the lies and all of the ***, for lack of a Better word. The sellers, Mr. and Mrs. have advised me that they have consulted with an attorney over your company. I have asked them to allow me to share with them documents and my part as well. I would also like the numerous inquiries pulled, removed from my credit reports. I also want to be sure that all money that has been handed over to your company is returned back to my account.
Product_Or_Service: Mortgage Company
Other (requires explanation) Refund, Apology, better training provided to Summit employees by corporate stepping up. I have found hundreds of complaints from 2018 until present.
Good Morning, In response to the complaint filed I wish to respond with the following;
First, I feel terrible that we were unable to complete this transaction and wanted nothing more than to secure full loan approval in order to have a successful closing. I prequalified the client for a USDA loan, and once she selected a property we were required to submit the file for an automated underwriting approval via USDA's underwriting system. The automated underwriting system declined the loan and we sought out other programs that could potentially work for the client's situation. The client was in need of a zero down payment loan and an alternative to USDA is to secure down payment assistance as a means to resolve. I made the client aware, and we attempted to secure automated approval in a conventional product, with down payment assistance via the Florida Housing Bond program. The client did meet the requirements for this program with respect to credit score and debt ratio, as per published guidelines, but unfortunately we were unable to secure an automated approval in the conventional underwriting system as well, after multiple attempts. At that point our only available option for the client was to secure FHA financing, which would have required a down payment she was unable to make, and understandably did not plan to make. I did communicate all of this information to the seller as well, who responded that they knew we were trying everything possible. Ultimately, we did look at every possible avenue to provide a solution to no avail. I am very sorry to hear that the client feels I did not work on her behalf in the best way possible to assist her. I put forth every effort possible to secure automated approval in every available program that would eliminate the need for a down payment. I wanted nothing more than to find a solution that would allow us to proceed and close her loan. In all of years that I have worked to provided financing for families I have never received a complaint and would never want a client to feel that I did not do my best to assist. With that being said, I completely understand the disappointment and sincerely apologize for not being able to complete this transaction for her, noting that I cannot reference her specifically in my response to your organization. We are happy to refund the cost of her appraisal collected in conjunction with her transaction and can forward this refund to her via your office or directly at her choosing if she would prefer as a way to expedite.