If you receive an offer from Greenlight Financial Services saying "lowest offer guaranteed or we'll give you $500"; don't waste your time. They appear to have no intention of giving you the $500 if they can't beat an offer.
I have been trying to get them to give me the $500 for more than 2 months. I called and asked them if they could beat the rate I had been given by another broker. Mike Hill said to email him the Good Faith Estimate from the other broker. I did this on Feb. 28. He replied "I am forwarding it to my manager to see what we can do."
After numerous follow up calls by me, he said they could not beat the offer and they would give me the $500. He asked me to send him the mailer offer I got from Greenlight and HUD-1 statement from my loan closing. I sent this on March 20.
After hearing nothing from anyone there, I followed up several times and on April 9 he finally replied "My manager is asking for the HUD-1 Statement stamped Final to be sent in. With this, I will forward it to them so you will finally be able to get your $500. Sorry for all of the inconvenience." I replied that the HUD-1 statement that I sent was labeled "final statement".
I then started talking to Mike's manager, Brian Lee. He stated several times that he agreed that I was due the $500 and that he was trying to convince "them" to get me the money. On May 4, he said that since I did not fill out a loan application, I was being turned down. I told him that I was never asked to fill one out, and I can't now because I have already closed on the other loan. On May 7, he said that he was "stuck in the middle" and gave me his manager's name and number.
I then spoke to Brian's manager, Alex Phan. He said that the fine print in the offer stipulates that I had to do a loan application, and that I was responsible for not following the rules of the offer. He said that Mike was "disciplined and re-trained" for not having me fill out a loan application, but that they were "protected by the terms and conditions" in the offer - even though I did everything they asked me to do.
They don't even tell their employees what procedures to follow to accomplish this, so I think the bottom line is that they have no intention of paying anyone the $500.
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