I have attempted to close and fund my house loan recently - and on time. Three weeks later my loan hasn't been funded!
I was finally told that RH Lending is under investigation by HUD due to defaults on other FHA loans, which should have nothing to do with me, and they are getting their license pulled. And, to top it all off, I also heard they are filing bankruptcy! Great! If there is anyone else out there who is doing business with this company, please be warned! It's the worst service I have ever experienced, and when a company is filing for bankuptcy, it's not a good idea to do business with them. I of course wasn't informed of this. I hope this hasn't or happend to anyone else, but be warned!
The owner is a man named Lonnie Brantley. I understand from the dealer I'm working with that he is a very dishonest person. For one, if you're going out of business and can't fund a loan it's common courtesy to let your clients and the dealer know something! I also learned that RH Lending used to go under the banner of Alacrity Mortgage. Alacrity defaulted with HUD this year accoding to the newspaper I viewed online and is now out of business. I guess RH Lending is doing the same thing.
Please stay away from Lonnie Brantley and RH Lending! I will pursue this matter, and they can count it!
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