- Report: #1025730
Complaint Review: Greenlight Financial
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| Greenlight Financial 18200 Von Karman Avenue, Suite 300, Irvine, CA 926
Irvine, California United States of America |
|
Greenlight Financial Complete scam, horrible customer service, no accountability, wasted 4 months of my life Irvine, California
*Author of original report: Still not a greenlight
*UPDATE Employee: Greenlight Financial Services is a Responsible Lender...
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Stay away! This place is definitely NOT a green light. I am trying to purchase my first home, so four months ago I applied for a mortgage loan at this institution. Within a day or two I had the pre-approval for the amount I was requesting and everything was ready to go. Real estate documents were signed and closing was set for February 21st. As the closing date drew nearer I found it was more and more difficult to get in contact with anyone at the bank. On the day that the closing was supposed to take place I am told that they can't do the loan after all, unless my truck is paid off. I immediately pay off my truck, that same day, and rush-mail the title to Greenlight so that the closing date will be within the next few days (Cameron Cunningham, the loan processor said he VERIFIED with the UNDERWRITER that the only thing holding this loan back was the truck payment). And so the truck was paid off, and a new closing date was established. Again, the DAY of closing we are told that now our account is in "payment shock" because our current rent payment at the apartment we are living at is lower than what our house payment will be .... no kidding!! So now what.
We decide to pull our application and go with another bank. We notify Greenlight to transfer all documents to the new lender. Cameron then tells us to hold off on doing that because he knows they can make it work. They are just one signature away from clearing everything with underwriting. So we wait. They give us a new closing date, which was March 7th, and we were promised all paperwork would be sent to the title company and closing would definitely happen this time around.
Guess what, a few days before the closing date we once again cannot reach anyone at the bank. Countless calls and emails are left but never returned. Our real estate lady is so fed up with them at this point that she calls the title company who said they were informed by the broker that they will not be taking this loan. What?!?! As of this very moment we have yet to be informed by Greenlight that they won't do this loan for us. They are avoiding our calls and emails and continuing to waste our time. Of course we have transferred everything to a new lender and are working with them. But let me tell you - I have done EVERYTHING requested by Greenlight, I have worked by butt off to pay off this and pay off that (as requested by them) and made sure my account was in tip-top condition, and for what. Nothing. Absolutely nothing. They are a bunch of pathetic liars, there is absolutely NO organization, and I am scratching my head as to how in the world they are allowed to present themselves as a mortgage company.
Please, if you have any desire to keep your sanity, stay AWAY!
We decide to pull our application and go with another bank. We notify Greenlight to transfer all documents to the new lender. Cameron then tells us to hold off on doing that because he knows they can make it work. They are just one signature away from clearing everything with underwriting. So we wait. They give us a new closing date, which was March 7th, and we were promised all paperwork would be sent to the title company and closing would definitely happen this time around.
Guess what, a few days before the closing date we once again cannot reach anyone at the bank. Countless calls and emails are left but never returned. Our real estate lady is so fed up with them at this point that she calls the title company who said they were informed by the broker that they will not be taking this loan. What?!?! As of this very moment we have yet to be informed by Greenlight that they won't do this loan for us. They are avoiding our calls and emails and continuing to waste our time. Of course we have transferred everything to a new lender and are working with them. But let me tell you - I have done EVERYTHING requested by Greenlight, I have worked by butt off to pay off this and pay off that (as requested by them) and made sure my account was in tip-top condition, and for what. Nothing. Absolutely nothing. They are a bunch of pathetic liars, there is absolutely NO organization, and I am scratching my head as to how in the world they are allowed to present themselves as a mortgage company.
Please, if you have any desire to keep your sanity, stay AWAY!
This report was posted on Ripoff Report on 03/08/2013 03:09 PM and is a permanent record located here: http://www.ripoffreport.com/r/Greenlight-Financial/Irvine-California-92612/Greenlight-Financial-Complete-scam-horrible-customer-service-no-accountability-wasted-1025730. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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Search Tips#1 Author of original report
Still not a greenlight
AUTHOR: Jacob Teichroeb - (United States of America)
SUBMITTED: Monday, March 11, 2013
What I am trying to say is that Greenlight had all of my information from the beginning. They knew what they were dealing with, and based off of that information, I was approved. I understand that a pre-approval is not an official approval, however, every time Greenlight hit a "dead end" I was told that by doing such and such my loan would definitely be approved. I was told that not only by the loan consultant I was working with, but also by the underwriter herself. I find it to be entirely unprofessional and unethical when they are having customers pay off thousands of dollars with the GUARANTEE of closing, not just once but twice, and then come up with an unclear reason as to why it won't work after all. I was ready to call off the loan earlier last month but was strongly advised by my consultant to hang in there because "We are just one signature away."
Greenlight had every single document they requested from me. If they really did have a problem with the information their underwriters should have caught it before 3 different closing dates came and went. This last time I was not even informed by them that it wouldn't be going through. I had to find out through my real estate agent who was trying to find some information for the current homeowners who already moved out because of the multiple closing dates.
Obviously I am not employed in the mortgage industry, so I rely off of their expertise and ability to interpret the information and give me a correct analysis of what is going on and what I can expect to happen. I find that to be extremely shady when everything is said to be on track for closing until the day OF, and then it is near impossible to reach anyone by phone or email to see what is going on.
I do not appreciate them stating that my information did not match up to what they had been told. I have been completely forthcoming with everything they requested of me, and have many emails to prove it. My goal is to make other potential customers aware that at the beginning they will most likely be told everything looks great and there will be no problems, and when closing dates come around there will be some kind of excuse and all they will be left with is frustration and many months of wasted time.
Greenlight had every single document they requested from me. If they really did have a problem with the information their underwriters should have caught it before 3 different closing dates came and went. This last time I was not even informed by them that it wouldn't be going through. I had to find out through my real estate agent who was trying to find some information for the current homeowners who already moved out because of the multiple closing dates.
Obviously I am not employed in the mortgage industry, so I rely off of their expertise and ability to interpret the information and give me a correct analysis of what is going on and what I can expect to happen. I find that to be extremely shady when everything is said to be on track for closing until the day OF, and then it is near impossible to reach anyone by phone or email to see what is going on.
I do not appreciate them stating that my information did not match up to what they had been told. I have been completely forthcoming with everything they requested of me, and have many emails to prove it. My goal is to make other potential customers aware that at the beginning they will most likely be told everything looks great and there will be no problems, and when closing dates come around there will be some kind of excuse and all they will be left with is frustration and many months of wasted time.
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What's this? #2 UPDATE Employee
Greenlight Financial Services is a Responsible Lender...
AUTHOR: GFS Consumer Affairs - (United States of America)
SUBMITTED: Monday, March 11, 2013
The applicant was a self employed, 1st time home buyer applying for an FHA purchase loan. With today's strict lending guidelines all lenders must validate the borrower's income to ensure their ability to repay the loan. In this scenario, the applicant had to file his 2012 Tax Returns and validate his payment to the IRS. It was stated by the applicant his IRS payment was approximately $100 versus the actual payment of $300+ which increased the applicant's DTI. Furthermore, it was discovered by underwriting, the most recent bank statement did not validate the average monthly income provided by the consumer on the initial loan application.
All lenders including Greenlight Financial Services rely on the accuracy of the information provided by the applicant during the initial loan application. A pre-approval dosen't constitute a final approval unless all information provided by the consumer including income is validated and consistent through out the processing and funding of the loan. GFS has no control of the borrower's self-employed income stream and liabilities to the IRS. It is unfortunate that the author of the post fails to provide the fine details impacting the loan and dosen't acknowledge GFS's due diligence to close the loan and the cost GFS incurred by paying for a $425 appraisal.
GFS goal was to fund the loan from the start. Greenlight Financial Services is a responsible lender that has been in business for over 12 years and has outlasted thousands of banks and lenders. GFS takes pride in having tens of thousands of satisfied customers. Remember, GFS is lending the borrower the funds to purchase the home. The claimant cannot dictate the guidelines provided by FHA especially if their financial profile changes while in process. Please contact the Office of Consumer Affairs at Greenlight Financial Services 877-476-5868 to address any additional question or concerns.
All lenders including Greenlight Financial Services rely on the accuracy of the information provided by the applicant during the initial loan application. A pre-approval dosen't constitute a final approval unless all information provided by the consumer including income is validated and consistent through out the processing and funding of the loan. GFS has no control of the borrower's self-employed income stream and liabilities to the IRS. It is unfortunate that the author of the post fails to provide the fine details impacting the loan and dosen't acknowledge GFS's due diligence to close the loan and the cost GFS incurred by paying for a $425 appraisal.
GFS goal was to fund the loan from the start. Greenlight Financial Services is a responsible lender that has been in business for over 12 years and has outlasted thousands of banks and lenders. GFS takes pride in having tens of thousands of satisfied customers. Remember, GFS is lending the borrower the funds to purchase the home. The claimant cannot dictate the guidelines provided by FHA especially if their financial profile changes while in process. Please contact the Office of Consumer Affairs at Greenlight Financial Services 877-476-5868 to address any additional question or concerns.
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