Discount Lending Center in Yorba Linda, CA has the worst customer service I have ever experienced and will end up costing you alot of money out of your pocket even though they claim to save you money over other brokers. They start off appearing to be professional but as time goes on and your loan application is being processed they become more and more unresponsive to emails and phone calls. When you call their office you will almost always get dumped into a general mailbox and they won't call you back.
They claim to charge you a maximum of $600 in fees which includes an appraisal fee of $300. They will ask you to pay the appraisal upfront and an appraiser does actually come to your house. Once you have paid the appraisal fee you feel you are committed to seeing the loan through even though the company is unresponsive and does not keep you informed during the loan processing.
They claimed to have got me a 45 day rate lock with the lender which should have been more than ample time to process the loan. I responded very quickly to all requests for supporting documents e.G. Payslips, bank statements etc and got them over to their office the next day. However towards the 5th week they told me they suddenly needed a HOA certification of indemnity and of course the HOA wanted to charge me more than double the fees for an expedited application. This I got faxed to Discount Lending Center the day I got it - 24 hours later. So we still had 1 week left before the 45 day lock was due to expire. I leave them several voice messages and emails requesting status with no response over the next several days. Finally after calling the brokers cellphone and leaving a message that I will take my business elsewhere I get a call back (the day before the rate lock expires) saying they didn't get the fax! Of course I know that's bull and I am extremely annoyed that they didn't respond with that information for a whole week almost!
Finally they tell call me a couple of days later and tell me the rate lock has expire and now they have to find another bank to apply to. "Why can't you just extend the rate lock period a few more days?" I ask. The broker tells me that will cost an additional. 5% on the rate he quoted me. This is after already raising the rate on me one time before this.in frustration I tell him that I don't want to go through the whole mess again and wait another 6 weeks only to have no loan to show for it. I dumped him and got a credit line with no fees and a very low rate with my bank direct. These guys are liars and cheats and will do anything to make an extra. 5% out of you, that represents several $1000's in commission to them. This is the scam they run. The play the switch and bait game very well and want to make you feel that you have already 'invested' so much into getting the loan what does an extra. 5% extra on the rate matter at this late stage.
Their gamble is that most customers will just accept the rate hike and suddenly the broker is a few thousand dollars richer. They are the lowest of the low scam artists. Don't do business with them.
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