Excellent!! I was specific with my requirements and they followed through with every request It was quick and I wasn't asked for documentation multiple times as I have had to in the past with other refi's We received an excellent rate and were happy with all aspects of our re-fi Thank you Eric H & Nick D especially for their professional and attentive service!!
Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this proposed action would not resolve my complaint For your reference, details of the offer I reviewed appear below id="docs-internal-guid-35756262-d358-05d4-600b-ad74a36a4594">I will first say that again I stand by all statements made by meWatermark’s mudslinging is an unprofessional attempt to shift blame“Mr***’s purchase loan contained multiple challenges that all caused delays.” RE: The challenges with my loan were minimalThese are the EXACT same challenges that were overcome by Watermark when the original loan was servicedAlso, the loan was processed by another company after I severed ties with Watermark with absolutely no problems or challenges and in less than weeksNo co-signer, and at a 45% DTISomething that Watermark could not accomplish“Finally, a co-borrower was needed in order to qualify for the home loan.” RE: Watermark assured me I had a D.Uapproval without a co-signer again and againI offered the co-signer (Who was a co-borrower on the original loan) as a viable option if needed however MONTHS went by without any DTI red flags and assurance that it was not neededAgain, Watermark had all docs from the first loanWhen requested, documentation was expediently given, usually the same day“The only way that rental income could be used to qualify was if an appraisal was obtained validating the value of that property This appraisal on a property that was not the subject property delayed the process even further.” RE: This is an absolute lieA appraisal was never requested and the rents from this particular property were never in questionIt would have been done ASAP if needed/requested “Mr***’s home loan did not have any type of pre-payment penalty Mr***s Good Faith Estimate and Final HUD both clearly confirm his loan does not have a Pre-Payment Penalty.” RE: I was manipulated by my Mortgage Banker into thinking that the commissions paid to Watermark by Chase Bank for acquiring the loan would need to be paid back if the loan was refinanced within months of the origination dateWatermark’s Mortgage Banker told me they were well within their rights to sue me for damages “Watermark attempted to refinance Mr***, but encountered challenges validating documentation and information provided verifying occupancy of an applicant and rental income necessary to qualify for the new loanThere were inconsistencies with the documentation provided at the time of purchase.” RE: All documentation provided was discussed and approved by the Mortgage BankerHe was considered one of their best and holds Law DegreeIf there were any issues initially, they should have been discussed and corrected before the original loan was written and sold “He also demanded Watermark remove his mother from the loan, but Watermark deemed her income necessary to qualify Although Mr [redacted] later agreed to keep his mom on the loan, there were now other concerns related to the loan application.” RE: There was never a time where I was ever in a position where I could demand for anythingThe purpose of the refinance was to lower the interest rateGetting the co-borrower off the loan was a bonusAgain I was assured that the co-borrower was unnecessary for months without any red flags “Due to these inconsistencies, Watermark declined Mr***’s refinance loan and no refund is due.” RE: This is interesting Watermark did not decline anythingI Left them after months of excuses and waiting for something to happen that never didAT NO TIME WAS MY LOAN DENIED OR DECLINEDI would still be waiting and listening to excuses if I didn't switch companies ***The most interesting part of this is Watermark contacted me after I complained to the Revdex.com to verbally apologize, and offer me $At that point I was done and willing to just let this go but Watermarks attempt to shift the blame on me is unprofessional and inexcusable[redacted] Again, I went to another Mortgage company and they had no problems at all with the loanI did not need a co-signer and the loan closed in weeksThis proves that I was forthcoming and that everything I have stated was truthful Regards, [redacted] ***
I just got my loan funded today, I highly recommended this company specially with David PHe is a very professional loan officer And with David's help, the transaction was very sufficientDavid and his management were willing to accommodate my schedule I give David and this company a five star
I will attempt to answer this complaint with facts Mr [redacted] started the process with Watermark to refinance his current mortgage from an ARM to a year fixedOn Jan8, his rate was locked and his appraisal was orderedOn Jan19,Watermark received an email from Mr [redacted] stating "Rates have come down, and I just learned from the appraiser that appraisals are no longer required to be transferable to another lender should I decide I can get a better deal elsewhereSo I have postponed the appraisalGiven where things stand, I'd be open to hearing your current rates, but otherwise I'm likely to hold off on applying for a mortgage until I can clean up the credit reportUnless we move forward I would like the charge to my credit card reversed." It was explained to Mr [redacted] that since his rate was locked there were not any optionsIt was also explained to MrTaylor that if he was going to postpone the appraisal then Watermark would hold off on working on his refinance since he was not committed to moving forwardHe didn't specify one way or another what he wanted to doOn Jan26, Watermark was notified by the Appraisal Management Company (AMC, an independent party) that the appraiser had inspected Mr [redacted] house Nothing had been communicated to Watermark by Mr [redacted] at this point Watermark followed up with Mr [redacted] again, at which point Mr [redacted] confirmed he had rescheduled the appointment and the appraiser was coming out on the 27thThe file was submitted on Feb11, Processing this file required a lot of time and additional documentation from the borrower as the majority of his income came from dividends and interestHe had Schedule K-1's in and Schedule K-1's in On Feb23, Watermark informed Mr [redacted] that we were having some issues with his income as his debt to income (DTI) ratio was too high and we needed to show more income, at which point additional information was requestedIt is Watermark's goal to ensure all clients receive the highest level of service and we regret that this borrower was not satisfied with our level of work on this loanIn the initial loan process the borrower cancelled an appraisal appointment and alluded to cancelling the loan to make attempts to improve credit to obtain a better rate at another lenderThis was interpreted internally as a formal request to stop all work and so the credit underwrite was left unfinishedWhen the borrower did re-initiate the loan with us and supplied additional documentation the loan was declined due to high DTI ratios
Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this proposed action would not resolve my complaint For your reference, details of the offer I reviewed appear below.Online response dated 1/14/2017.In regards to ID # [redacted] with Watermark Capital, Inc.In answer to their last business response, I never, at any point, approved or authorized by "wet signature" or otherwise, a credit card payment for $for an appraisal with Watermark Capital, Inc& mortgage broker, [redacted] On an electronic statement 5/24/2016, I did change and correct an attached emailed electronic statement to indicate I authorize only a $approval amount for an appraisal & crossed out $ At which time, all my credit card account information was given to Watermark Capital, Inc It was this corrected form by me where mortgage broker, [redacted] , obtained my credit card information to submit to a third party for an appraisal amount which, again, I did not authorize or approve for $ I was locked out of the website when I cancelled the refinance process I called Watermark Home Loans X's to obtain copies of all the paperwork I did sign and even though I was told several times that copies would be mailed to me, to this date I have not received any copies.I am requesting a refund of $to resolve this issue This amount is the difference between the authorized amount of $and the unauthorized amount of $ An acceptance of wrong-doing on Mr [redacted] part would be nice but I am not holding my breath.Please confirm receipt of this email Thank you[redacted] ***- [redacted]
Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this proposed action would not resolve my complaint For your reference, details of the offer I reviewed appear belowThis resolution offer is unacceptable It doesn't offer any resolution All this offers us is another view into the unethical practices of Watermark home loans Their facts are intentionally and deliberately designed to blame US Bank for their delays It is true that US Bank did not respond until 5/ However, this was due to a Watermark delay We provided the final subordination documentation to Watermark on 04/ Watermark advised the completed packet would be sent out immediately upon receipt On 04/22, we confirmed with Watermark that the subordination packet had not been received at US Bank No response from Watermark We sent an urgent email on 04/advising US Bank still had not received the subordination packet, and advised that we were concerned about the lock time line since we had at that point lost four days due to Watermark not sending out the packet Finally, on 04/Watermark advised the packet would be going out the same day On May 1, US Bank advised they still had not received the actual subordination request or payment We followed up again with Watermark, and on 05/they finally sent the packet overnight for delivery at US Bank on 05/ We worked with our contacts at US Bank to expedite processing, so the response was received at Watermark by 5/4, within two business days and in three days less than their standard processing time This represents a delay of nine (9) full business days due to lack of follow up an mismanagement of the subordination packet by Watermark.Watermark's response is a misrepresentation of the facts Their management of this piece of the process alone cost a nine day delay My position is unchanged, and I feel Watermark still owes me a $refund which has been further supported by their facts Regards, [redacted]
Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this proposed action would not resolve my complaint For your reference, details of the offer I reviewed appear below We continue to believe that it was inappropriate for Watermark to add these fees after giving us a loan estimate We hope that the Revdex.com can help future customers avoid paying these surprise fees Regards, [redacted]
I would highly recommend Watermark Home Loans! My experience was just wonderfulI was nervous going with an online company but they had great Bankrate ratings and online reviewsFrom my first phone call to the final closing, things were very smoothJavier was excellent and very professional
We are extremely happy we went with Watermark Home Loans! Our loan officer was David PHe was amazing to work with! He was very professional, knowledgeable, and super nice to talk with! He kept us updated on everythingHe made the whole process very smooth and exciting! We signed our escrow papers on a Thursday and by Friday the next day at 5pm we were closed, funded and recorded! Not sure how typical that is but it was amazing! I highly, highly recommend David P at Watermark Home Loans!
I AM RESPONDING TO COMPLAINT ID # [redacted] AND BBB LETTERS DATED 12/1/16 & 12/7/16. FIRSTLY, I DID NOT RECEIVE BBB CLOSING CASE LETTERS UNTIL 12/13/16 WHEN A RESPONSE WAS NECESSARY WITHIN 5 DAYS. NO INFORMATION WAS GIVEN ONLINE. SECONDLY, THE MAIN ISSUE OF MY COMPLAINT AGAINST WATERMARK CAPITAL INC. WAS AN AUTOMATIC WITHDRAWAL OF FUNDS AGAINST MY CREDIT CARD WHICH WAS NOT AUTHORIZED AND/OR APPROVED BY ME. MY CREDIT CARD INFORMATION WAS GIVEN TO AND OBTAINED BY WATERMARK CAPITAL WITH A SIGNED ESIGNATURE ONLINE STATEMENT TO INITIATE A REFINANCE, HOWEVER, MY ESIGNATURE AUTHORIZATION AND/OR APPROVAL WAS FOR ONLY $350.00, NOT $500.00 AS I INDICATED ON THIS SAME STATEMENT WHEN I CHANGED THE AMOUNT TO $350.00. I DID NOT DISCOVER THE CREDIT CARD DISCREPANCY UNTIL 7-10 DAYS LATER. THE BROKER NEVER TOLD ME HE WITHDREW $500. UNTIL I CALLED HIM 10 DAYS LATER. WHEN I ADVISED HIM I NEVER APPROVED AN APPRAISAL FOR $500. EVEN FROM THE START WITH THE 1ST PHONE CALL TO WATERMARK I ADVISED THE BROKER IT WAS EXCESSIVE. FROM THE START AND THROUGHOUT THE ENTIRE REFI PROCESS HE INFORMED ME NUMEROUS TIMES, WE CAN WORK THIS OUT AT A LATER DATE. PLEASE RECONSIDER YOUR DECISION ON THIS COMPLAINT. TO BE FAIR, I AM ONLY REQUESTING A REFUND AT THIS POINT FOR $150.00, THE DIFFERENCE BETWEEN $500. & $350. SINCE I DID AGREE AND AUTHORIZE TO PAY $350.00 WITH MY ESIGNATURE ON THE MORTGAGE PAPERS.
Contacted David P of Watermark Mortgage for the refinance of my home Had a very good experience; David helped us through the on line application and electronic signature process as my home computer could not work their system David and his staff were there for us all the way and Watermark held our rate lock past the deadline when they got delayed in processing the loan I would rate David P and his staff at Watermark Stars for their work on my loan
My complaint # [redacted] regarding Watermark Capitol has been resolved They honored our original agreement with the lenders credit and we had a quick close for our refinancingThank you so much for all your help, [redacted] ***
Watermark has a wet signed Credit Card Authorization Form from the client dated and a wet signed Loan Estimate from the client dated Watermark disclosed a $appraisal fee even though the actual appraisal costs ended up being lower Watermark fulfilled its fiduciary responsibility to the client Therefore, no refund is due
I have refinanced several times in past years, but never was it as easy and smooth going as David P of Watermark Home Loans made itHe was informative and knowledgeable and gave us the best rate possible All our questions and concerns were handled with ease and promptness It was a pleasure working with him I highly recommend him and his company
Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this proposed action would not resolve my complaint For your reference, details of the offer I reviewed appear below I will first say that again I stand by all statements made by meWatermark’s mudslinging is an unprofessional attempt to shift blame.“Mr***’s purchase loan contained multiple challenges that all caused delays.”RE: The challenges with my loan were minimalThese are the EXACT same challenges that were overcome by Watermark when the original loan was servicedAlso, the loan was processed by another company after I severed ties with Watermark with absolutely no problems or challenges and in less than weeksNo co-signer, and at a 45% DTISomething that Watermark could not accomplish.“Finally, a co-borrower was needed in order to qualify for the home loan.”RE: Watermark assured me I had a D.Uapproval without a co-signer again and againI offered the co-signer (Who was a co-borrower on the original loan) as a viable option if needed however MONTHS went by without any DTI red flags and assurance that it was not neededAgain, Watermark had all docs from the first loanWhen requested, documentation was expediently given, usually the same day.“The only way that rental income could be used to qualify was if an appraisal was obtained validating the value of that property This appraisal on a property that was not the subject property delayed the process even further.”RE: This is an absolute lieA appraisal was never requested and the rents from this particular property were never in questionIt would have been done ASAP if needed/requested “Mr***’s home loan did not have any type of pre-payment penalty Mr***s Good Faith Estimate and Final HUD both clearly confirm his loan does not have a Pre-Payment Penalty.”RE: I was manipulated by my Mortgage Banker into thinking that the commissions paid to Watermark by Chase Bank for acquiring the loan would need to be paid back if the loan was refinanced within months of the origination dateWatermark’s Mortgage Banker told me they were well within their rights to sue me for damages“Watermark attempted to refinance Mr***, but encountered challenges validating documentation and information provided verifying occupancy of an applicant and rental income necessary to qualify for the new loanThere were inconsistencies with the documentation provided at the time of purchase.”RE: All documentation provided was discussed and approved by the Mortgage BankerHe was considered one of their best and holds Law DegreeIf there were any issues initially, they should have been discussed and corrected before the original loan was written and sold“He also demanded Watermark remove his mother from the loan, but Watermark deemed her income necessary to qualify Although Mr [redacted] later agreed to keep his mom on the loan, there were now other concerns related to the loan application.”RE: There was never a time where I was ever in a position where I could demand for anythingThe purpose of the refinance was to lower the interest rateGetting the co-borrower off the loan was a bonusAgain I was assured that the co-borrower was unnecessary for months without any red flags“Due to these inconsistencies, Watermark declined Mr***’s refinance loan and no refund is due.”RE: This is interesting Watermark did not decline anythingI Left them after months of excuses and waiting for something to happen that never didAT NO TIME WAS MY LOAN DENIED OR DECLINEDI would still be waiting and listening to excuses if I didn't switch companies***The most interesting part of this is Watermark contacted me after I complained to the Revdex.com to verbally apologize, and offer me $At that point I was done and willing to just let this go but Watermarks attempt to shift the blame on me is unprofessional and inexcusable.***Again, I went to another Mortgage company and they had no problems at all with the loanI did not need a co-signer and the loan closed in weeksThis proves that I was forthcoming and that everything I have stated was truthful Regards, [redacted] ***
Watermark did need to extend the rate lock, which reduced the lender credit However, there was a agent credit in addition to the lender credit The combined credits exceeded the total costs of the loan, so the end result was the same, which is a no cost transaction The client was not harmed because the excess credits could not be used at that point in the transaction Therefore, no refund is due
***, I looked and I do not have any documentation I can submit that confirms there wouldn’t be any extension fees My wife and I were both told by [redacted] that they would not charge us an extension fee over the phone Their response to my initial complaint does confirm that a promise was made "Watermark informed the client they would do their best to not have to charge an extension." I hope that is enough Please let me know if I can submit anything else Thanks, [redacted]
Excellent!! I was specific with my requirements and they followed through with every request It was quick and I wasn't asked for documentation multiple times as I have had to in the past with other refi's We received an excellent rate and were happy with all aspects of our re-fi Thank you Eric H & Nick D especially for their professional and attentive service!!
Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this proposed action would not resolve my complaint For your reference, details of the offer I reviewed appear below id="docs-internal-guid-35756262-d358-05d4-600b-ad74a36a4594">I will first say that again I stand by all statements made by meWatermark’s mudslinging is an unprofessional attempt to shift blame“Mr***’s purchase loan contained multiple challenges that all caused delays.” RE: The challenges with my loan were minimalThese are the EXACT same challenges that were overcome by Watermark when the original loan was servicedAlso, the loan was processed by another company after I severed ties with Watermark with absolutely no problems or challenges and in less than weeksNo co-signer, and at a 45% DTISomething that Watermark could not accomplish“Finally, a co-borrower was needed in order to qualify for the home loan.” RE: Watermark assured me I had a D.Uapproval without a co-signer again and againI offered the co-signer (Who was a co-borrower on the original loan) as a viable option if needed however MONTHS went by without any DTI red flags and assurance that it was not neededAgain, Watermark had all docs from the first loanWhen requested, documentation was expediently given, usually the same day“The only way that rental income could be used to qualify was if an appraisal was obtained validating the value of that property This appraisal on a property that was not the subject property delayed the process even further.” RE: This is an absolute lieA appraisal was never requested and the rents from this particular property were never in questionIt would have been done ASAP if needed/requested “Mr***’s home loan did not have any type of pre-payment penalty Mr***s Good Faith Estimate and Final HUD both clearly confirm his loan does not have a Pre-Payment Penalty.” RE: I was manipulated by my Mortgage Banker into thinking that the commissions paid to Watermark by Chase Bank for acquiring the loan would need to be paid back if the loan was refinanced within months of the origination dateWatermark’s Mortgage Banker told me they were well within their rights to sue me for damages “Watermark attempted to refinance Mr***, but encountered challenges validating documentation and information provided verifying occupancy of an applicant and rental income necessary to qualify for the new loanThere were inconsistencies with the documentation provided at the time of purchase.” RE: All documentation provided was discussed and approved by the Mortgage BankerHe was considered one of their best and holds Law DegreeIf there were any issues initially, they should have been discussed and corrected before the original loan was written and sold “He also demanded Watermark remove his mother from the loan, but Watermark deemed her income necessary to qualify Although Mr [redacted] later agreed to keep his mom on the loan, there were now other concerns related to the loan application.” RE: There was never a time where I was ever in a position where I could demand for anythingThe purpose of the refinance was to lower the interest rateGetting the co-borrower off the loan was a bonusAgain I was assured that the co-borrower was unnecessary for months without any red flags “Due to these inconsistencies, Watermark declined Mr***’s refinance loan and no refund is due.” RE: This is interesting Watermark did not decline anythingI Left them after months of excuses and waiting for something to happen that never didAT NO TIME WAS MY LOAN DENIED OR DECLINEDI would still be waiting and listening to excuses if I didn't switch companies ***The most interesting part of this is Watermark contacted me after I complained to the Revdex.com to verbally apologize, and offer me $At that point I was done and willing to just let this go but Watermarks attempt to shift the blame on me is unprofessional and inexcusable[redacted] Again, I went to another Mortgage company and they had no problems at all with the loanI did not need a co-signer and the loan closed in weeksThis proves that I was forthcoming and that everything I have stated was truthful Regards, [redacted] ***
I just got my loan funded today, I highly recommended this company specially with David PHe is a very professional loan officer And with David's help, the transaction was very sufficientDavid and his management were willing to accommodate my schedule I give David and this company a five star
I will attempt to answer this complaint with facts Mr [redacted] started the process with Watermark to refinance his current mortgage from an ARM to a year fixedOn Jan8, his rate was locked and his appraisal was orderedOn Jan19,Watermark received an email from Mr [redacted] stating "Rates have come down, and I just learned from the appraiser that appraisals are no longer required to be transferable to another lender should I decide I can get a better deal elsewhereSo I have postponed the appraisalGiven where things stand, I'd be open to hearing your current rates, but otherwise I'm likely to hold off on applying for a mortgage until I can clean up the credit reportUnless we move forward I would like the charge to my credit card reversed." It was explained to Mr [redacted] that since his rate was locked there were not any optionsIt was also explained to MrTaylor that if he was going to postpone the appraisal then Watermark would hold off on working on his refinance since he was not committed to moving forwardHe didn't specify one way or another what he wanted to doOn Jan26, Watermark was notified by the Appraisal Management Company (AMC, an independent party) that the appraiser had inspected Mr [redacted] house Nothing had been communicated to Watermark by Mr [redacted] at this point Watermark followed up with Mr [redacted] again, at which point Mr [redacted] confirmed he had rescheduled the appointment and the appraiser was coming out on the 27thThe file was submitted on Feb11, Processing this file required a lot of time and additional documentation from the borrower as the majority of his income came from dividends and interestHe had Schedule K-1's in and Schedule K-1's in On Feb23, Watermark informed Mr [redacted] that we were having some issues with his income as his debt to income (DTI) ratio was too high and we needed to show more income, at which point additional information was requestedIt is Watermark's goal to ensure all clients receive the highest level of service and we regret that this borrower was not satisfied with our level of work on this loanIn the initial loan process the borrower cancelled an appraisal appointment and alluded to cancelling the loan to make attempts to improve credit to obtain a better rate at another lenderThis was interpreted internally as a formal request to stop all work and so the credit underwrite was left unfinishedWhen the borrower did re-initiate the loan with us and supplied additional documentation the loan was declined due to high DTI ratios
Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this proposed action would not resolve my complaint For your reference, details of the offer I reviewed appear below.Online response dated 1/14/2017.In regards to ID # [redacted] with Watermark Capital, Inc.In answer to their last business response, I never, at any point, approved or authorized by "wet signature" or otherwise, a credit card payment for $for an appraisal with Watermark Capital, Inc& mortgage broker, [redacted] On an electronic statement 5/24/2016, I did change and correct an attached emailed electronic statement to indicate I authorize only a $approval amount for an appraisal & crossed out $ At which time, all my credit card account information was given to Watermark Capital, Inc It was this corrected form by me where mortgage broker, [redacted] , obtained my credit card information to submit to a third party for an appraisal amount which, again, I did not authorize or approve for $ I was locked out of the website when I cancelled the refinance process I called Watermark Home Loans X's to obtain copies of all the paperwork I did sign and even though I was told several times that copies would be mailed to me, to this date I have not received any copies.I am requesting a refund of $to resolve this issue This amount is the difference between the authorized amount of $and the unauthorized amount of $ An acceptance of wrong-doing on Mr [redacted] part would be nice but I am not holding my breath.Please confirm receipt of this email Thank you[redacted] ***- [redacted]
There were delays by both the borrower and the lender Therefore, the lender covered 50% of the extension costs Thank you
Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this proposed action would not resolve my complaint For your reference, details of the offer I reviewed appear belowThis resolution offer is unacceptable It doesn't offer any resolution All this offers us is another view into the unethical practices of Watermark home loans Their facts are intentionally and deliberately designed to blame US Bank for their delays It is true that US Bank did not respond until 5/ However, this was due to a Watermark delay We provided the final subordination documentation to Watermark on 04/ Watermark advised the completed packet would be sent out immediately upon receipt On 04/22, we confirmed with Watermark that the subordination packet had not been received at US Bank No response from Watermark We sent an urgent email on 04/advising US Bank still had not received the subordination packet, and advised that we were concerned about the lock time line since we had at that point lost four days due to Watermark not sending out the packet Finally, on 04/Watermark advised the packet would be going out the same day On May 1, US Bank advised they still had not received the actual subordination request or payment We followed up again with Watermark, and on 05/they finally sent the packet overnight for delivery at US Bank on 05/ We worked with our contacts at US Bank to expedite processing, so the response was received at Watermark by 5/4, within two business days and in three days less than their standard processing time This represents a delay of nine (9) full business days due to lack of follow up an mismanagement of the subordination packet by Watermark.Watermark's response is a misrepresentation of the facts Their management of this piece of the process alone cost a nine day delay My position is unchanged, and I feel Watermark still owes me a $refund which has been further supported by their facts Regards, [redacted]
Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this proposed action would not resolve my complaint For your reference, details of the offer I reviewed appear below We continue to believe that it was inappropriate for Watermark to add these fees after giving us a loan estimate We hope that the Revdex.com can help future customers avoid paying these surprise fees Regards, [redacted]
I would highly recommend Watermark Home Loans! My experience was just wonderfulI was nervous going with an online company but they had great Bankrate ratings and online reviewsFrom my first phone call to the final closing, things were very smoothJavier was excellent and very professional
We are extremely happy we went with Watermark Home Loans! Our loan officer was David PHe was amazing to work with! He was very professional, knowledgeable, and super nice to talk with! He kept us updated on everythingHe made the whole process very smooth and exciting! We signed our escrow papers on a Thursday and by Friday the next day at 5pm we were closed, funded and recorded! Not sure how typical that is but it was amazing! I highly, highly recommend David P at Watermark Home Loans!
I AM RESPONDING TO COMPLAINT ID # [redacted] AND BBB LETTERS DATED 12/1/16 & 12/7/16. FIRSTLY, I DID NOT RECEIVE BBB CLOSING CASE LETTERS UNTIL 12/13/16 WHEN A RESPONSE WAS NECESSARY WITHIN 5 DAYS. NO INFORMATION WAS GIVEN ONLINE. SECONDLY, THE MAIN ISSUE OF MY COMPLAINT AGAINST WATERMARK CAPITAL INC. WAS AN AUTOMATIC WITHDRAWAL OF FUNDS AGAINST MY CREDIT CARD WHICH WAS NOT AUTHORIZED AND/OR APPROVED BY ME. MY CREDIT CARD INFORMATION WAS GIVEN TO AND OBTAINED BY WATERMARK CAPITAL WITH A SIGNED ESIGNATURE ONLINE STATEMENT TO INITIATE A REFINANCE, HOWEVER, MY ESIGNATURE AUTHORIZATION AND/OR APPROVAL WAS FOR ONLY $350.00, NOT $500.00 AS I INDICATED ON THIS SAME STATEMENT WHEN I CHANGED THE AMOUNT TO $350.00. I DID NOT DISCOVER THE CREDIT CARD DISCREPANCY UNTIL 7-10 DAYS LATER. THE BROKER NEVER TOLD ME HE WITHDREW $500. UNTIL I CALLED HIM 10 DAYS LATER. WHEN I ADVISED HIM I NEVER APPROVED AN APPRAISAL FOR $500. EVEN FROM THE START WITH THE 1ST PHONE CALL TO WATERMARK I ADVISED THE BROKER IT WAS EXCESSIVE. FROM THE START AND THROUGHOUT THE ENTIRE REFI PROCESS HE INFORMED ME NUMEROUS TIMES, WE CAN WORK THIS OUT AT A LATER DATE. PLEASE RECONSIDER YOUR DECISION ON THIS COMPLAINT. TO BE FAIR, I AM ONLY REQUESTING A REFUND AT THIS POINT FOR $150.00, THE DIFFERENCE BETWEEN $500. & $350. SINCE I DID AGREE AND AUTHORIZE TO PAY $350.00 WITH MY ESIGNATURE ON THE MORTGAGE PAPERS.
Contacted David P of Watermark Mortgage for the refinance of my home Had a very good experience; David helped us through the on line application and electronic signature process as my home computer could not work their system David and his staff were there for us all the way and Watermark held our rate lock past the deadline when they got delayed in processing the loan I would rate David P and his staff at Watermark Stars for their work on my loan
My complaint # [redacted] regarding Watermark Capitol has been resolved They honored our original agreement with the lenders credit and we had a quick close for our refinancingThank you so much for all your help, [redacted] ***
Watermark has a wet signed Credit Card Authorization Form from the client dated and a wet signed Loan Estimate from the client dated Watermark disclosed a $appraisal fee even though the actual appraisal costs ended up being lower Watermark fulfilled its fiduciary responsibility to the client Therefore, no refund is due
I have refinanced several times in past years, but never was it as easy and smooth going as David P of Watermark Home Loans made itHe was informative and knowledgeable and gave us the best rate possible All our questions and concerns were handled with ease and promptness It was a pleasure working with him I highly recommend him and his company
Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this proposed action would not resolve my complaint For your reference, details of the offer I reviewed appear below I will first say that again I stand by all statements made by meWatermark’s mudslinging is an unprofessional attempt to shift blame.“Mr***’s purchase loan contained multiple challenges that all caused delays.”RE: The challenges with my loan were minimalThese are the EXACT same challenges that were overcome by Watermark when the original loan was servicedAlso, the loan was processed by another company after I severed ties with Watermark with absolutely no problems or challenges and in less than weeksNo co-signer, and at a 45% DTISomething that Watermark could not accomplish.“Finally, a co-borrower was needed in order to qualify for the home loan.”RE: Watermark assured me I had a D.Uapproval without a co-signer again and againI offered the co-signer (Who was a co-borrower on the original loan) as a viable option if needed however MONTHS went by without any DTI red flags and assurance that it was not neededAgain, Watermark had all docs from the first loanWhen requested, documentation was expediently given, usually the same day.“The only way that rental income could be used to qualify was if an appraisal was obtained validating the value of that property This appraisal on a property that was not the subject property delayed the process even further.”RE: This is an absolute lieA appraisal was never requested and the rents from this particular property were never in questionIt would have been done ASAP if needed/requested “Mr***’s home loan did not have any type of pre-payment penalty Mr***s Good Faith Estimate and Final HUD both clearly confirm his loan does not have a Pre-Payment Penalty.”RE: I was manipulated by my Mortgage Banker into thinking that the commissions paid to Watermark by Chase Bank for acquiring the loan would need to be paid back if the loan was refinanced within months of the origination dateWatermark’s Mortgage Banker told me they were well within their rights to sue me for damages“Watermark attempted to refinance Mr***, but encountered challenges validating documentation and information provided verifying occupancy of an applicant and rental income necessary to qualify for the new loanThere were inconsistencies with the documentation provided at the time of purchase.”RE: All documentation provided was discussed and approved by the Mortgage BankerHe was considered one of their best and holds Law DegreeIf there were any issues initially, they should have been discussed and corrected before the original loan was written and sold“He also demanded Watermark remove his mother from the loan, but Watermark deemed her income necessary to qualify Although Mr [redacted] later agreed to keep his mom on the loan, there were now other concerns related to the loan application.”RE: There was never a time where I was ever in a position where I could demand for anythingThe purpose of the refinance was to lower the interest rateGetting the co-borrower off the loan was a bonusAgain I was assured that the co-borrower was unnecessary for months without any red flags“Due to these inconsistencies, Watermark declined Mr***’s refinance loan and no refund is due.”RE: This is interesting Watermark did not decline anythingI Left them after months of excuses and waiting for something to happen that never didAT NO TIME WAS MY LOAN DENIED OR DECLINEDI would still be waiting and listening to excuses if I didn't switch companies***The most interesting part of this is Watermark contacted me after I complained to the Revdex.com to verbally apologize, and offer me $At that point I was done and willing to just let this go but Watermarks attempt to shift the blame on me is unprofessional and inexcusable.***Again, I went to another Mortgage company and they had no problems at all with the loanI did not need a co-signer and the loan closed in weeksThis proves that I was forthcoming and that everything I have stated was truthful Regards, [redacted] ***
Watermark did need to extend the rate lock, which reduced the lender credit However, there was a agent credit in addition to the lender credit The combined credits exceeded the total costs of the loan, so the end result was the same, which is a no cost transaction The client was not harmed because the excess credits could not be used at that point in the transaction Therefore, no refund is due
***, I looked and I do not have any documentation I can submit that confirms there wouldn’t be any extension fees My wife and I were both told by [redacted] that they would not charge us an extension fee over the phone Their response to my initial complaint does confirm that a promise was made "Watermark informed the client they would do their best to not have to charge an extension." I hope that is enough Please let me know if I can submit anything else Thanks, [redacted]
David P and his team made refinancing my home smooth and easy