I have completed the most horrendous loan with this company. To begin with they promised one thing and then provided something all together. Throughout the entire loan process, we asked for a Good-Faith Estimate and they faxed a form that looked as though it had been cut in half. The day before closing we were told that our interest rate jumped 2 pts. And that it was due to our credit, we went online and pulled our credit report and of course nothing was there our scores remain the same, which at that time were 650 and 678. We then went back and forth with words, but needed to refinance immediately as our rate with our old finance company was set to increase the next day.
We were scheduled to close, which was on a Friday, last day of the month and the title company did not show up due to the Bank (Star Mortgage - Another FRAUD) did not send over the paperwork as they had a power outage due to a storm. We ended up closing on the 3rd day of the new month and by then HOMECOMINGS - MORE FRAUD, reported us 30-days late. Homecomings continued to report us 30 days for two months later even after the loan has been closed. I have gone back to Flexible to explain why the rate had increased at the last minute and they told us it was because of our appraisal. We asked for a copy of our appraisal report which to this day, we have yet to receive.
They hire people who have no clue how to operate a mortgage business, nor how to process a mortgage loan. Now our scores are showing 567 and 534 and we have been trying to get another mortgage company to refinance us, but who at this credit rating will take us without robbing us again. We were told we would pay only 1 point at closing we paid two and a yield premium, which we were told would be paid by the bank. LIES!!! Now we will have to suffer with this high interest rate, more like struggle to make our payments on time, which one is already late, due to the information provided from the NEW bank on when the first payment is due.
Hopefully, there will be a big bright light this time next year after rebuilding our credit and moving on. My best advice is to check your credit frequently and be sure that your scores are accurate and you know everything before passing the information onto those money and bloodsucking brokers. I understand they are in the business to make money, but why on the backs of the middle class!!!
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