This lender over charged on an FHA transaction, went over the non-allowable fees to be paid by the seller, and refused to reduce his fees. He caused delays in closing by weeks, the seller who is being transferred to another state has been living in a hotel because this lender kept saying closing would happen soon.
He repeatedly hung up on the closing agent who was trying to discuss his fees, after the 6th call he stated he would call the police if another call was placed. This lender said title and escrow would have to cut their fees, and suck it up, that he used the entire sum of $6,000.00 for non allowables.
Buyers did not get a great rate and paid 1.5 points for 6%. After the closing this lender has called the closing agent to threaten to call HUD and have them placed on the list of unusable closing agents. Watch out for MoneyTree Lending in Lakewood, the only money tree they want to supply is their own pocket.
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