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Weichert Financial Services Reviews (2)

Review: Handling mortgage due to close tomorrow 5/29/14. Have not received closing package. [redacted] will not respond to emails or phone calls. May lose house if closing doesn't take place tomorrow as stated in sales contract.Desired Settlement: Closing as scheduled in sales contract



Please be advised that the sale contract called for a closing date of May 29, 2014. However, client was informed that the earliest Weichert Financial Services could close them would be June 5, 2014. The delay was due to awaiting clearance of loan documentation and an adjustment that was needed on the appraisal report. Weichert Financial Services can't close a file without obtaing clearance first. Once clearance was obtained the loan package was released to the closing table.

The client did close on June 5, 2014.

Review: We refinanced our home with this company based on information the consultant[redacted], gave us during our closing session in the presence of myself, my husband and the closing attorney. Mr. [redacted] was asked to review the payout numbers because there seemed to be a discrepancy based on payout figures he had given us earlier. He assured us the numbers were as discussed and the the difference was $1,067 representing payment of annual premium for our home insurance.

He said that amount had been paid by Weichert and that it would be included in the payout amount we were to receive. We signed the documents and proceeded with the closing based on this information. We had shopped around with other lenders and based on this information we chose Weichert b/c it seemed the better deal. After the closing, we learned that our home insurance was going to be cancelled b/c it had not been paid. To avoid cancellation we paid for it and then contacted Weichert. It turns out Mr. [redacted] was not right. This all occurred in late October and by mid-December, after many calls with my husband, Mr. [redacted] assured us we should receive a check in the mail for the full amount shortly. After the holidays and no check had arrived, my husband tried to contact Mr. [redacted] but all his calls went unanswered. He answered a call from me in early January (I called from a different number since he wouldn't pick up my husbands calls). After repeated calls back and forth, he explained that he misspoke at the closing but couldn't do anything about it. I asked that he have his supervisor call me and that never occurred. I sent an email to him and to his supervisor, Lisa Penn, on 1/21/14 and have not received a response.Desired Settlement: Mr. [redacted]'s behavior was unethical. He gave us false information that resulted in our signing for a mortgage that we could've gotten a better deal for elsewhere. In addition, customer service has been atrocious. He was very responsive to us as customers up until the moment we signed the mortgage documents. He avoided our calls, never returned calls, and promised we would receive a check in the mail when no such thing was happening.

We received a check for $250 from an amount that was in escrow - we therefore would like the balance of what he said we would get paid to us. The total should have been $1,067 so we now seek a check for $817.



Attached please find a letter of explanation from the Loan Officer [redacted], expressing his side of the events that occured. Attached please also find copies of the Payoff Statement, the HUD-1 and Loan Mortgage History. Weichert Financial Services cannot issue a seperate check to the customer in the amount of $817.00 as that money was already part of the $6,523.94 that was in escrow and already used to reduce the borrower's payoff balance. Otherwise the payoff would have been higher. As the escow funds were used for the payoff the borrower is responsible for paying their own insurance. [redacted]

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Description: Financial Services, Mortgage Brokers

Address: 1 Corporate Dr Ste 360, Lake Zurich, Illinois, United States, 60047-8945


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