| 06/15/2021 |
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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I understand that this bank is trying to do everything by the book, but in their quest to do so puts a tremendous amount of stress on the buyer. I provided everything they asked for, and it still didn't suffice. It was particularly problematic when it came to liquidating crypto for part of the down payment. So I found a workaround in the form of a gift from my partner. Then they wouldn't let him sign it electronically through adobe sign or docusign. Do they not understand that it is way easier to forge a written signature than it is a digital signature that they can trace? Also, they allowed for everything else to be e-signed. On top of all this, the lender waited until a couple of days before close to tell me this. So at this point, it was either jump through all the hoops or lose $ XXXX in earnest money. After my partner signed the gift letter, XXXX requested more documentation, citing XXXX XXXX guidelines. Not sure why I was told this after going through the whole process of getting it signed. Part of all the confusion stemmed from the lack of SOFI properly educating me on the type of loan I was receiving. I had no clue that it was a XXXX XXXX loan versus an FHA or some other kind of mortgage. So when I tried to research on my own, I was receiving conflicting information. Finally, in addition to signing the gift letter ( a legal document ), they asked me to type a blurb stating that I would not be paying the funds back. So a legal document was not even good enough for them. After all of that, they requested that my partner sign an affidavit saying the house would be his permanent residence, even though we don't live in the same state due to our careers. Again, something they told me after I went through the whole process. I was clear from the beginning where the funds were coming from. Even the title company and lender were shocked by how difficult the lender was being.
Further, SOFI waited until the last minute before requesting proof of funds. Had they set a deadline, I would have had it done. Instead, their procrastination pushed the deal right to the brink. I then had to sign an extension with the buyer, which cost me more money. XXXX being ill-prepared, almost lost me my {$20000.00} in earnest money. Ultimately, I had to walk away from the deal with SOFI and paid cash instead, which, had I done from the very beginning, would have saved me a lot of time, money, and heartache. I am extremely fortunate that between my partner and I, we were able to come up with the money.
Overall this process was so frustrating that I never want to apply for a mortgage again. As a first-time home buyer, this should have been a life milestone, but instead, it was a nightmare. SOFI should really be investigated for its lending practices.
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| 08/04/2020 |
Yes |
- Money transfer, virtual currency, or money service
- Traveler's check or cashier's check
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Web |
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I refinanced my home through Sofi Mortgage LLC on XX/XX/XXXX.
I never received a welcome packet in the mail from XXXX or an information via email letting me know that they were handling my loan.
Not receiving a welcome packet or email I was under the impression that I would still need to mail my first mortgage payment to the address listed on the First Payment Letter that i received in my refinancing packet during closing from Sofi.
I sent my payment of {$1200.00} to Sofi Mortgage LLC on XX/XX/XXXX.
It was delivered and signed for on XX/XX/XXXX, I sent the check and paid for it to be certified delivered via USPS, meaning someone would have to sign for it.
On XX/XX/XXXX the check was then cleared.
According to my bank the check was never endorsed, just had a stamp on it that said RECEIVED. I have a copy of the check and confirmed that the check was not endorsed, and just had the received stamp.
a few days later I received a letter from XXXX asking for my XX/XX/XXXX payment.
Sofi Mortgage LLC sold my loan to XXXX XXXX on XX/XX/XXXX or XX/XX/XXXX with giving my an heads up. I was caught off guard because I had sent my payment in and already knew that it was delivered, signed for, and cleared. I called XXXX to confirm that my payment had been forwarded but they had no knowledge of any payment being sent from Sofi Mortgage LLC nor could they see anything pending.
I reached out to Sofi Mortgage, and they have no trace of my new mortgage, since it was sold to XXXX the loan number they gave me was a temporary loan number and no longer in their records. ( However, I am still getting mail to this day that is asking me to buy insurance for my new mortgage with Sofi Mortgage LLC ) I spent countless hours on the phone with Sofi Mortgage. I even called the company that handles their payments, XXXX, and they were never able to help me.
I was given many different phone numbers to try and find someone who could help me, but after two weeks of constantly fighting to find my missing check no one was ever able to track it ot resolve my issue.
I even contacted the person who I was working with from Sofi Mortgage LLC and he no longer works for Sofi Mortgage LLC, he passed me along to someone else who wasnt ever able to help me.
I filed a dispute with my bank in early XXXX but still to this day, XX/XX/XXXX, have no idea where my mortgage payment is.
I also have no idea why Sofi Mortgage LLC would tell me to mail them a check, and then tell me they dont have my loan number or any account information anymore but then cash a check that has the loan number on it that is no longer in their system.
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| 07/23/2020 |
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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I have tried to apply to refinance my mortgage with sofi twice. The first time the mortgage officer, XXXX XXXX placed me in a single family mortgage type, no points, and closing in XXXX. After two weeks of waiting XXXX informs me my house is deemed a multi unit by sofi and now I have to pay points or have a higher interest rate. I decline the offer from sofi as the points and higher rate did not make financial sense to refinance. Rates dropped again and I tried to refinance a second time with sofi. During the application process the website does not indicate multi family, therefore, I picked condo. XXXX doesnt contact me but I get an email from sofi that my docs are ready to sign yet nobody has contacted me and the information within wasnt accurate. I contact XXXX via email and was informed 3 days later that Im required to sign docs that I didnt agree to and arent accurate, and that I have to sign them before he can update them. I dont sign them as Im not signing legal documents that are inaccurate. He calls me, I email him letting him know that just like him Im working and XXXX either need to call me after XXXX cst or book time with me. I hear back that XXXX be out of the office the following day. I waited 5 more days, nothing from XXXX before then, and then a random phone call that my docs have been updated, but I havent spoken to him or agreed to anything. I email him and he sends me a screen print of one interest rate, apr and points over {$1000.00}, but thats my only choice. I reply that he doesnt get to pick a rate for me and that he either needs to call after XXXX cst or schedule time. Two more days, he calls before XXXX, I call him back, he calls me back, and After 2 mins is yelling at me when he informs me Ive picked the wrong product type, im in a multi unit, the website isnt confusing or deceptive and my product type is listed online. I hang up as he will not yell at me, I get screen prints of their website, email him, he sends an apology email telling me that Im confused, and proceeds to tell me to pick a 2 unit online even though he has referred to my product type as multi unit in both instances. Sofi website only states 4 product types for mortgage refinance ; 1 ) single family residence detached, 2 ) condo, 3 ) 2 unit, and 4 ) pud. There is not multi unit. Sofi is trying to increase their revenue stream by forcing consumers to pay points fees by deceptive practices of not defined product types, only providing a screen print of one rate, and yelling at consumers to bully them into their product types. This is not acceptable behavior.
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| 10/07/2020 |
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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We applied for a mortgage loan with SOFI Financial the first week of XX/XX/2020. We locked in our rate for 60 days on XX/XX/XXXX. After sending in documents showing income, mortgage balances, credit report, we were told we were approved for our loan. Our home 's appraised value came out higher than we had initially valued it on the application ( so no problem there ). We received an estimated closing date of XX/XX/2020.
When that date passed I contacted our loan officer to find out what the hold up was. He stated he'd look into it and get back to us. At that time he requested more documents that we had already sent in, but I sent them again.
When our loan officer failed to contact us over the next week, I contacted his supervisor and asked what the hold up was, since our lock was then expired, our estimated closing date had past. Within a hour of contacting the supervisor, our loan officer contacted us and asked for an explanation of a past foreclosure. I explained neither my wife nor I have ever been foreclosed upon, that there must be some mistake and why was this only now coming to light after they had pulled our credit report and twice informed us our loan was approved. I asked if this was retaliation for going to his supervisor. I asked if he was discriminating against my wife and I for some reason.
He said, " of course not '' just routine inquiry. He said he'd get our loan closed by the 90 day mark.
12 days later, after the 90 day mark, I contacted the company again to ask what was happening. I received an email asking for additional documents that we had already turned in several times and no other response. The email was the exact same email as 6 weeks before, that we had already responded to.
I believe SOFI is holding up our loan by requesting we send in the same documents over and over, hoping we'll cancel our application. Which is what I finally did after 93 days since we first locked in our rate.
We paid for an appraisal and wasted 90 days time on this matter. I can not prove it, but I believe my wife and I were discriminated against.
I requested a refund of the appraisal cost and {$2000.00} compensation for wasting 90 days of our time, and losing our rate lock, but I got no response on the matter.
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| 04/30/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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I applied for a mortgage refinance with Sofi on XX/XX/XXXX. Throughout the process, Sofi caused my credit score to drop unnecessarily due to excessive credit pulls caused by closing delays. Specifically, Sofi pulled my credit 6 times ( dates of pulls : XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX ).
I submitted a CFPB complaint about the excessive hard pulls on my credit and Sofi provided a Response in XX/XX/XXXX. In the response, they stated : " Upon reviewing your account, we confirmed that there were a total of four hard credit inquiries obtained throughout the process. We are currently working to have two of them suppressed, which will completely remove them from your credit file. Please note that the general timeframe for this to be handled by the credit bureaus is 30-90 days. '' It is now 200 days after Sofi 's response, and as of today, my credit report still shows 5 inquiries. Attached is a copy of my credit report from Sofi 's own website. The attachment states that there are 5 hard inquiries, on the following dates : XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX.
Based on this, it is clear that Sofi only had one ( 1 ) pull removed from my file ( the pull from XX/XX/XXXX is no longer showing ).
Sofi should remove the following specific credit pulls : 1. XX/XX/XXXX, 2. XX/XX/XXXX, 3. XX/XX/XXXX. The pulls on XX/XX/XXXX and XX/XX/XXXX were unnecessary because Sofi had pulled credit on XX/XX/XXXX. The pull on XX/XX/XXXX was unnecessary because Sofi had pulled credit on XX/XX/XXXX.
There is no reason to pull someone's credit 4 times in one week ( XX/XX/XXXX ) or 2 times in one week ( XX/XX/XXXX ) for one single credit extension/transaction.
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| 04/13/2021 |
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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I applied last XX/XX/XXXX to refinance to take advantage of low interest rate. I file the application online. The loan officer ask for some documents needed and I submitted it. They even said that we will be closing the loan on XX/XX/XXXX. I keep on waiting and I didn't hear anything from them. So I called the loan officer to follow up and told me that it is forwarded to Underwriting. I waited again and never heard of any updates. So I called the loan officer again to follow up. Then all I know they pass me over to another person then e-mailed me to introduce themselves and asking documents that I already sent. XXXX comes and I am expecting for the signing to close of the loan. They hand me over to another person and asking same documents that I already submitted and telling me that we close the loan on XX/XX/XXXX or sooner. XX/XX/XXXX came and pass me over to another person and asking some documents again and I really XXXX and told her why keep on asking same documents which I already submitted from the very beginning of my application. She told me that it already expired. Of course it expired because the process was moving like a turtle. So I submitted again documents she's asking and told me that we'll signing the documents for the closing. It is recorded. The schedule of the Notary to come over to my house is XXXX XXXX pacific time today XX/XX/XXXX. Now it's XXXX and nobody showed up.
Hoping for your kind consideration cause I am so frustrated with this XXXX XXXX. I've been buying homes and doing refinancing and never in my experience this kind of situations.
Thanks
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| 08/16/2019 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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Our closing date had been set for XX/XX/19 since Mid-XX/XX/2019 . Sofi received the Preliminary Closing Statement from XXXX XXXX on XX/XX/19. I asked multiple times to see the Closing Disclosure starting on XX/XX/19. The last time I heard from anyone at Sofi about the CD was on XX/XX/XXXX at XXXX CT after I had to ask yet again. I was told "It may be a bit later this evening, but it will be out today". This violates the 3 day rule we get to review the closing documents. This will cause a domino effect where we, the borrowers, need to spend thousands of dollars to move out of our current home, storage our items, find housing, pay for pet care, pay for food, then hire movers again. Between myself, my realtor, my home building company, the title company we have all reached out to management via email and phone with no response until XXXX CT on XX/XX/XXXX. The response received was confirming they will contact an appraiser and did not address any other issues. Also, Sofi does not accept any type of Escrow Agreements for new construction, which should be communicated upfront. The appraiser they hire should be looking to make sure everything is complete to report a possible problem ahead of closing. As of XXXX CT on XX/XX/19 (Friday) we do not have a Closing Disclosure for a loan that was scheduled to close on XX/XX/19 (Monday).
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| 10/04/2019 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Servicemember |
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I reached out to SoFi Mortgage for a potential refi ( conventional ) in effort to reduce my interest rate. After a credit pull, verification of assets, and property review I was quoted a conservative '' number of {$4100.00} to close ( with an expectation of everything settling around {$3700.00} ) to which I agreed. I paid the {$520.00} for the appraisal ( house appraised as expected ) and we moved forward. After underwriting, the funds to close jumped to {$9300.00} ( well over double ). I would have never paid the appraisal fee or moved forward had that number been disclosed to me from the start. The sales manager told me that it was " normal '' for numbers to flex but I have never seen the mark missed this badly in any mortgage I have ever had. I asked for a refund of the appraisal fee because of the extremely poor calculations on the part of SoFi but was informed that a refund of appraisal fee was not an option. Under normal circumstances, I would not ask for nor expect a refund of the appraisal fee ( not my first rodeo ) as that is sunk cost and part of business, but when there is an error of numbers to this magnitude, I feel a refund request is justified and not out of the realm of warranted. In the end, I feel that I was baited in and offered something that the mortgage broker could not deliver.
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| 09/04/2019 |
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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SoFi.com advertises mortgages : https : //www.sofi.comXXXX They do not offer this product, even though this page claims they do and describes the product, and invites the user to " find my rate '', which " takes two minutes ''. Clicking leads to a form to create an account, then a series of detailed forms collecting personal information, work history, etc. After that, the website prints an error message that they don't offer mortgages. After this, they send an email with the subject " First, get pre-qualified in 2 minutes. For real. '' repeating the marketing claims from the web page and specifically saying they have " Dedicated mortgage loanofficers '' who will walk you through the process " to get prequalified and take the next big step toward a loan youlllove '' I used the " Contact the CEO '' link that's at the top of every page when logged in. ( It did not go to the CEO, it went to customer service. ) They eventually emailed to say " In an effort to provide the best possible experience for our members, we've made the decision to not originate purchase transactions at this time. ''
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| 08/07/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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Initial loan application was placed on XX/XX/20 for refinance with SoFi Mortgage. Over 2 week delays multiple occurrences in response times for any actions to be placed on the loan. During those times of no response multiple calls and emails were sent. This has happened now for 130 days since origination with no signs of an end.
Paid for appraisal on XX/XX/20 with receipt. Closing disclosures sent showed appraisal being charged again at time of closing. Payoff amount shown on closing disclosures {$1200.00} more than payoff amount quoted from current lender ( same date of payoff ) Credit was pulled a second time without authorization from myself or my wife. No confirmation from SoFi that this is corrected.
Closing was scheduled to take place XX/XX/20 with a signing agent ( SoFi Scheduled ). SoFi never sent the documents and did not answer calls or emails from the agent to get the documents. No clue when/if the loan with close now.
This company is deceptive and unworthy of business.
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| 01/23/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I closed on a refinance with SoFi in XX/XX/2020. As part of the refinance, I prepaid a total of {$6400.00} for taxes for 2020, which was to be escrowed until taxes were due, and in turn paid.
I have come to find out that I am entering delinquency for property and municipal district taxes, and only the taxes to the school district have been paid.
I have made multiple attempts to resolve with SoFi, to no avail.
I get a different response from each person I speak to - ranging from being told that I am responsible for 2020 taxes and no one being able to answer where the taxes I prepaid went to, to being told to contact my SoFi loan officer, who is completely unresponsive at this point.
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| 06/10/2019 |
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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Breach of confidentiality. My name and email address were shared with other leads by a mortgage sales person who didn't know how to securely and privately send emails. This again occurred when the message was " recalled '', which only works on internal email systems.
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| 06/02/2021 |
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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| 05/26/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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| 04/06/2021 |
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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| 03/09/2021 |
Yes |
- Payday loan, title loan, or personal loan
- Personal line of credit
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- Incorrect information on your report
- Account information incorrect
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Web |
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| 11/17/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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| 08/22/2020 |
Yes |
- Money transfer, virtual currency, or money service
- Traveler's check or cashier's check
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Web |
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| 02/27/2020 |
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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| 08/20/2019 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Referral |
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