I have my current mortgage with Citi. I wanted to refinance, so I called them, thinking the process would be easiest with my current lender. Wrong, wrong, wrong... This has been a total mess from the beginning.
First, they told me I qualified for a new closing cost loan, even though I told them I have a home equity loan. I got most of the way through that application process, and then they realized I did NOT qualify because of the home equity loan. Then the conventional loan was processed. Three days later I got 2 sets of paperwork, one for each loan. I was told to just sign the correct one and send it back. Well, they tried to process the incorrect one, and then sent me a letter saying that I was declined due to a tax lien on the house. That is a problem since I put money in escrow for them to pay my taxes. I called the township, and there is no tax lien. Citi could not tell me where this information came from. It took 4 hours on the phone for me to get this straightened out.
Then, about 90 days into this loan, they told me that they were waiting on the title company. The title company called me to verify some information and told me they were waiting on Citi. More emails, more phone calls, and things proceeded slowly forward again. Then 14 business days ago, I was told that my mortgage was with the underwriters and I should have a settlement date within 7 - 10 days. Wrong again, and they are not returning my emails. They have been assuring me I am getting the loan, and that it is 'soon', for 6 weeks now.
To top it off, a house in my neighborhood sold and settled in 30 days. I asked the new homeowner who they used for the mortgage. You guessed it, Citi. So they are processing new loans first, and then good-paying existing customers like myself get shoved on the back burner. They figure they are getting my money every month anyway and are in zero hurry to try to save me some money.
Citibank, you have a serious customer service failure. If you are thinking of refinancing through Citi, think again and go somewhere else. They are just plain terrible.
Signed, still waiting for a closing date.
0 comments