Stay classy, Box Home Loans. Stay classy.
Okay. Last entry was a bit reactionary. I'm now relatively sure the situation has been salvaged. There has been contortionist antics to do it.
I've been working with a loan company that specifically lend to people with really good credit called Box Home Loans. My credit is about 813. I have one bank account to my name. One credit card that is paid off in full. No outstanding loans. And my name is on the title to one house, that has no mortgage. I naively thought this was a good fit.
Through the process of this home loan I've been working on getting, Box has:
Lost the loan disclosure paperwork
Couldn't articulate what information they wanted from me
Changed what they wanted from me
Demanded financial information of people who were related to me, but not part of the loan
Made threatening phone calls
Pushed me into paying for rush services... and then bogging down the process for two weeks
Broken multiple agreements
Refused to accept updated bank statements
Refused to let me out of the loan lock
Told me I was unreasonable to ask for a comprehensive list of what further documentation they might need so I could collect it preemptively.
Told me my assets and credit were insufficient for a conventional loan, and tried to sell a more expensive loan.
And most recently, started ignoring my phone calls and emails
My bank's loan people and tellers ended up dragged into the mess, and even they couldn't figure out what these people wanted. We just kept guessing, sending in papers, and receiving "we'll let you know what else we need" and a wall of silence.
To put it mildly, these people were ... um ... inept. And rude. This is absolutely the worst customer service experience I have ever had in my life.
And last night, everything basically collapsed. The supervisor of the loan officers at Box Home Loans called and ended up putting me in tears by listing a new list of criteria and documentation the underwriters wanted. And also saying, the way she saw it, I just didn't have enough money sourced the way they wanted it. Even if my bank statements all say I did.
And my realtor finally just went "this is ridiculous," last night and pushed me into ending the process with them, and hand the loan over to someone she's worked with many times. We're racing the clock to get all the paperwork submitted. It's going to be more expensive than Box's rates were. I don't think I mind, though.
So yeah, the situation has been salvaged. On top of that, I sent a letter to the head of Box Home Loans, informing him of what happened, and advising him to do some serious customer service training. Because his loan officers need it.
I did also get a call from the loan officer this afternoon. She was surprisingly nice, and agreed to release the appraisal I'd already paid for to the new finance company, without the cancellation fee. A finance company, I have to note, whose general manager looked over all my paperwork last night and straight up said: "I don't see why they're making this difficult for you. There's nothing wrong with any of this, and you're not a credit risk."
*deep sigh* It's mostly over, guys. And I'm going to be sitting on milk crates and pillows for several months, because I won't be able to afford furniture. But at least I've graduated from hell to purgatory. The feeling of waiting for the other shoe to drop is gone. Mostly.
And, since the company I work for is a corporate partner of Box Home Loans ... I sent an email to benefits this morning letting them know how horrible this has been. The two ladies in that department know me, as I've done scheduling favors for them in the past. Apparently, they decided to send it to the head of HR. I am a little freaked out by that. But they assured me that it's the sort of thing they want brought to their attention.
So, best case scenario is that I got a loan company that knows what they're doing. I'm still getting the house. And I probably didn't make a dent with Box Home Loans, as it sounds like it's an organizational culture problem to me. But I might have gotten them in a bit of trouble with the largest employer in the immediate area. Who is a billion dollar plus company. And the biggest company they had listed on their corporate partners page.
I guess I'm vindictive. But I rather hope so.
I've been working with a loan company that specifically lend to people with really good credit called Box Home Loans. My credit is about 813. I have one bank account to my name. One credit card that is paid off in full. No outstanding loans. And my name is on the title to one house, that has no mortgage. I naively thought this was a good fit.
Through the process of this home loan I've been working on getting, Box has:
Lost the loan disclosure paperwork
Couldn't articulate what information they wanted from me
Changed what they wanted from me
Demanded financial information of people who were related to me, but not part of the loan
Made threatening phone calls
Pushed me into paying for rush services... and then bogging down the process for two weeks
Broken multiple agreements
Refused to accept updated bank statements
Refused to let me out of the loan lock
Told me I was unreasonable to ask for a comprehensive list of what further documentation they might need so I could collect it preemptively.
Told me my assets and credit were insufficient for a conventional loan, and tried to sell a more expensive loan.
And most recently, started ignoring my phone calls and emails
My bank's loan people and tellers ended up dragged into the mess, and even they couldn't figure out what these people wanted. We just kept guessing, sending in papers, and receiving "we'll let you know what else we need" and a wall of silence.
To put it mildly, these people were ... um ... inept. And rude. This is absolutely the worst customer service experience I have ever had in my life.
And last night, everything basically collapsed. The supervisor of the loan officers at Box Home Loans called and ended up putting me in tears by listing a new list of criteria and documentation the underwriters wanted. And also saying, the way she saw it, I just didn't have enough money sourced the way they wanted it. Even if my bank statements all say I did.
And my realtor finally just went "this is ridiculous," last night and pushed me into ending the process with them, and hand the loan over to someone she's worked with many times. We're racing the clock to get all the paperwork submitted. It's going to be more expensive than Box's rates were. I don't think I mind, though.
So yeah, the situation has been salvaged. On top of that, I sent a letter to the head of Box Home Loans, informing him of what happened, and advising him to do some serious customer service training. Because his loan officers need it.
I did also get a call from the loan officer this afternoon. She was surprisingly nice, and agreed to release the appraisal I'd already paid for to the new finance company, without the cancellation fee. A finance company, I have to note, whose general manager looked over all my paperwork last night and straight up said: "I don't see why they're making this difficult for you. There's nothing wrong with any of this, and you're not a credit risk."
*deep sigh* It's mostly over, guys. And I'm going to be sitting on milk crates and pillows for several months, because I won't be able to afford furniture. But at least I've graduated from hell to purgatory. The feeling of waiting for the other shoe to drop is gone. Mostly.
And, since the company I work for is a corporate partner of Box Home Loans ... I sent an email to benefits this morning letting them know how horrible this has been. The two ladies in that department know me, as I've done scheduling favors for them in the past. Apparently, they decided to send it to the head of HR. I am a little freaked out by that. But they assured me that it's the sort of thing they want brought to their attention.
So, best case scenario is that I got a loan company that knows what they're doing. I'm still getting the house. And I probably didn't make a dent with Box Home Loans, as it sounds like it's an organizational culture problem to me. But I might have gotten them in a bit of trouble with the largest employer in the immediate area. Who is a billion dollar plus company. And the biggest company they had listed on their corporate partners page.
I guess I'm vindictive. But I rather hope so.