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Report: #533451

Complaint Review: TDBANK NORTH - Internet

  • Submitted:
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  • Reported By: Fed Up With TD — new york New York United States of America
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  • TDBANK NORTH Internet United States of America

TDBANK NORTH Commerce Bank Mortgage Processing Sucks Internet

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To be brief enough - Do Not Bother Applying to TDBANK for a mortgage, it is a waste of time.


We have been customers of TDBANK (through Commerce Bank they acquired) for over 5 years now. 5 weeks ago, we applied for a mortgage, looking to buy a Coop in Manhattan that became available at a fantastic Price Discount. We filed our application promptly, met all paperwork requirements (which were almost ridiculous in nature and volume) even before their deadlines, and then figured we were a lock. Why?


We are putting down 30%. Even with that 30% down, on a Primary residence, we would still have enough CASH in TDBANK to meet all payment requirements for the next 2 years if disaster were to strike. We are very prudent people, both with credit scores in excess of 800, fantastic careers, and the mortgage + our monthly Coop fees would only represent 17% of our monthly gross income. I'm a businessman, and thats a lock.


So where are we at - after 33 days, TDBANK has still not finished processing the paperwork and appraisals. I'm in a 30 day contract with the seller, so tomorrow morning I have to withdraw from the contract (thank God for the contingency clause in the mortgage contract, or we would have lost our 10% down (standard practice with Manhattan coops) - $160,000!). I have called, people just never return calls. Have emailed, - No responses other than silence.


Now, for those who wonder, can these things really happen, lets make it more succinct. I am the President of a major software company, where cash in bank at the moment - at TDBANK - my commercial banker - exceeds $2,000,000 - and I control it.


 


Well, it's at TDBank tonight, along with my own personal funds that are not small. Tomorrow - they will be at another bank!


 


Stay away from these guys. They are not in any way customer oriented.

This report was posted on Ripoff Report on 12/03/2009 10:54 PM and is a permanent record located here: https://www.ripoffreport.com/reports/tdbank-north/internet/tdbank-north-commerce-bank-mortgage-processing-sucks-internet-533451. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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