| 03/30/2017 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Application, originator, mortgage broker
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Web |
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This complaint arises out of a loan application from XXXX ( NMLS # XXXX ). The complaint is : ( 1 ) improper statement during an initial phone conversation about available rates and the ability to change interest rate after lock-in ; ( 2 ) failure to correct loan disclosures and other documents ( e.g. loan application ) when asked several times ; ( 3 ) failing to stop sending e-mails asking to sign loan disclosures after loan application was cancelled ; and ( 4 ) continuing to inform me that I had to sign improper documents.
On or about XX/XX/2017, I was shopping online for a mortgage quote. After speaking with XXXX XXXX ( NMLS # XXXX ) at XXXX about the mortgage rates, I questioned him about a {$450.00} " lock-in '' cancellation fee. He indicated that that fee had only been charged one time in 8 years and that it only related to if the loan details substantially changed. I specifically asked about whether the interest rate can be changed after the lock-in and he stated that it could change. Once I received the initial disclosures, application, and other documents ( the " Documents '' ), I noticed a errors in the Documents. XXXX stated they would fix the errors but told me that I would have to sign the existing Documents and they could n't generate new ones. On XX/XX/2017, I spoke with a supervisor about the issues with the Documents, that the amount quoted online was different, and that the interest rate was now lower. I requested all of these items to be changed. The supervisor informed me that it does n't matter if the Documents were incorrect I was just signing that I acknowledged they were received. However, the Documents included much more than what was indicated on the phone including without limitation the actual loan application, request for tax transcript, etc. In addition, despite the original conversation with XXXX that I would be able to change the interest terms, XXXX XXXX XXXX failed to honor its original obligations to lower the interest rate. I informed them I no longer wanted to do business with XXXX. I received an e-mail stating the loan application was cancelled. Thereafter, every day I kept receiving e-mails from XXXX asking me to sign the Documents. On XX/XX/2017, I e-mailed XXXX asking him to stop the automatic e-mails. He responded by stating : " Unfortunately the only way to get rid of those daily reminders is to sign. The reason is the government requires that we keep a record of the disclosures, therefore we can not delete them. As well as a record of the borrower acknowledging they received them. '' XXXX failed to let me know that I could select " decline to sign '' on the application.
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| 11/06/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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I successfully completed a conventional refinance with Box Home Loans ( https : //www.boxhomeloans.com/ ) two days ago, but the process was mired with delays and irregularities that I feel need be investigated by the CPFB.
On XX/XX/2020, I submitted an application with a 60 day lock for a conventional refinance for two of my investment properties. During the application, it was noted that due to their rates being slightly lower than the market average, it was essential that all requested documentation be uploaded within a timely manner. Within 48 hours, I submitted all initial documentation through the website.
On XX/XX/XXXX, I received an email from my assigned loan officer, XXXX XXXX, containing a link to a video with a message from the CEO. In the video, the CEO explains that due to heavy application volume, " Refinance loans, in some cases, may take up to 90 days, '' which would imply a closing date no later than XX/XX/XXXX. Given that knowledge, I continued my application with Box Home Loans.
On XX/XX/XXXX, I was given notice that my application was submitted to underwriting for initial review. My application was not reviewed by underwriting until XX/XX/XXXX, a period of 82 days from when I submitted my documentation. During this window, I was charged for, and had, an appraisal completed without knowing if my application would be approved.
During this 82 day window, I would frequently try to contact Box for updates on my loan. Phone calls always went unanswered, but emails were responded to. I was told that due to their pipeline being 500 % of normal, they could not process my loan in a timely manner. I suggested that they slow or stop taking new applications so they could focus on completing the existing ones, but this fell recommendation was not implemented.
On XX/XX/XXXX, I was assigned a loan processor who had a couple requests for followup documentation. I provided all documentation to her within 24 hours and the file was resubmitted to final underwriting. It took until XX/XX/XXXX until my loan was cleared to close by underwriting. We are now on day 118 of this process, even though the CEO I should expect no more than 90. And I feel like this would have been slower were it not for what seemed like my incessant haranguing of my loan officers. The loan funded on day 120. According to XXXX XXXX, conventional refinances in XXXX took an average of 54 days.
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| 10/05/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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Its been 4 months and still nothing from Box Loans. Enter at your own risk, Beware of these guys. You're better off keeping your current mortgage vs. attempting to complete a refinance with these guys. Not consist and always have an excuse for their mess ups. Management needs to realize that the people representing this company is a reflection of them. But again, when you're making money, giving people the run around, and lying to cover your tracks, I don't think one customer would make a difference to them. Four months to complete a simple refinance is unacceptable, but again its due to COVID-19. These guys have yet to say, we are weak, don't have the man power to make thing happen in a timely manner. Just man up and say we XXXX up, and we are very sorry for the XXXX we are giving you. As of today, I am still waiting on a REAL manager or the President/CEO of the company to contact me regarding the several issues I am experiencing. This has cost me time and money, not to mention I was going to give them two more properties to complete on my behalf. I have gone through 3 seasons and still don't have this loan completed. It doesn't make sense for my clients or friends to start a refinance 2 months after me and complete it a month ago, and got better over customer experience/customer service. I will have my attorney file a formal complaint within the federal and state level regarding this matter. Your action throughout the entire process has lead to conclude I am a victim of discrimination.
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| 06/28/2018 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Servicemember |
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On XX/XX/18 We received documents from Box Home Loans cause we were working on an offer to refinance. When he sent the documents he disclosed the amount we were getting, interest, APR and cash in hand. XXXX XXXX did not disclose that we would have to pay XXXX if we decided to not go through with the proposed offer. I had my current mortgage loan carrier review it and she found there is a lock cancellation fee in the documents. She suggested I contact you guys because she has never heard of any company charging to not take their services and feels it is wrong. We decided to stay with XXXX because they offered us a better refinance deal.
My current mortgage loan is through XXXX and the main person we go through is XXXX XXXX, XXXX.
The other loan company we were talking to is XXXX XXXX phone number is XXXX, XXXX.
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| 10/16/2017 |
Yes |
- Mortgage
- Other type of mortgage
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Web |
Servicemember |
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After doing the paperwork and upon closing on XXXX XXXX for my refinancing of my home, I was led to believe that my payments would decrease. XXXX home loans/Nudge funding -Company I worked with told me all I would need to close is {$45.00} in a check and my payment would then be XXXX, approximately XXXX less than that was currently paying. After I got my first bill I found out on the paperwork that there is an {$12000.00} closing cost that was not explain to me which brought up my original payment {$200.00}. Due to their predatory and sneaky tactics, and not being thorough with exclamation, I now have a higher payment then originally. The company is based in Utah and the attorney that I signed with from a mobile agent is not licensed in the state of South Carolina which I reside.
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| 01/04/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Older American |
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Box Home Loans A Division of XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX Are you having a 5 star experience? Let my manager know : XXXX Applied for mortgage and was not provided a denial letter or any concrete information on my denial. Was not provided any information or how to correct the problem. XXXX XXXX would not return any of my calls. The times we did speak, he spoke in a condescending way such a multiple time referring to the information as mines, instead of discussing the problem.
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| 05/27/2020 |
No |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Older American |
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I have been in the process of refinance with Box Home loans since XX/XX/2020. They have been non-responsive to me when trying to clarify what they needed ( no response to emails or inquiries through my account page with them ). They have asked for verification on " interest in properties '' that I have never owned and then will no clarify where their information comes from. I have responded quickly to any request for documentation. After 6 weeks, my application has not even gone through the initial review phase. We have a previous relationship as I have done one home purchase and one refinance through them. I am really frustrated about what appears to be their incompetence.
Thank you.
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| 10/27/2020 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Servicemember |
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The originator for my re-finance is taking an extraordinary amount of time to complete the process. It is now at 104 days after having submitted my paper work to initiate the refinance and the originator has missed several planned re-finance completion deadlines that they have scheduled.
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| 04/27/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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