Pathfinder Mortgage Group had 2 representatives stop by my office to do a marketing/sells presentation, the last week of May. They presented themselves wonderfully and guaranteed services to us and our buyers. Several agents were so impressed with presentaion that within a couple of weeks they had been given approximately seven referrals. They told each and every buyer that they were qualified for the purchase of a house. Of the seven, they were only able to get one funded and closed as of today.
The first loan was presented to them on 2 June 06. Pathfinders told us, in writing, that they could get this loan approved. The sellers even allowed the buyers to move into the house on a lease agreement. As of to date, the buyers are still not able to obtain a loan and they are still living in the house.
Another example, of their incompetence, was with another deal that was suppose to initially close mid July. The buyer was allowed to move in the first week of September because they told us that they finally had him approved for a loan, which was over a week ago and we still have not heard anything back from them; we have left several messages.
After the first buyer was allowed to move in, we continued to call, email, etc., but we did not get any responses. When we did call, there was always an excuse, contracts were extended, promises/guarantees were made but were not and are still being followed through.
A couple of days before scheduled closings the agents would call but would not get return calls from loan processors. Closing coordinator would try to call to get updates and they would not return her calls until she started using another name and would actually use her personal cell phone so that they could not identify the number.By doing that, she was able to talk to them only because she had to use a fake identity.
After their display of poor business practices, the agents encouraged the potential buyers to use other Lenders for loan approvals. At least three of these buyers have already closed and have moved into their new homes.
Please if you are purchasing a home, we strongly recommend that you do not use this company... They will promise the world and won't produce. They appear to be articulate, knowledgeable, caring and willing to go that extra mile, but do not make the same mistakes that we did.
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