ComplaintsforHomestead Funding Corp

• Initial Complaint

  09/12/2023

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  I was never provided clear communication throughout the process and wasn't allowed to have the taxes waived from the loan. "No charge for waiving insurance escrow But if you want to waive your tax escrow there is a charge" Sent: Wednesday, July 26, 2023 1:56 PM Rick S****** The portal doesn't include our mortgage details but has a letter with an additional charge of $110.00 for credit check ($110.00) which was paid during closing. Why? They didn't do us any favors as we have excellent credit! It was a horrible and stressful experience working with the people we did, maily Rick S******, except for Rob. Rick would reply to texts either from a boat or from lunch or from vacation never in his office mainly why his answers never made sense or were half the answers or was gibberish and it appeared he responded without even knowing what he was writing and his answers made no sense. Mostly every time clarification was needed. Used copy/paste loan application from one property to another adding incorrect charges to the loan. Took 25% down when I had agreed to do 20% down. Processed the loan and as I informed over and over this was not what I had agreed to, his response was “this is what you signed”. The incompetence and disregard is out of this world and sadly we ended up closing with them after all attorney and appraisal was done. After so many complaints with his work, I was referred to his so called “supervisor Peter” who was even more incompetent. They kept passing me from one person to another and each time the experience was worse! I felt lied to and mislead. Rick would send URGENT requests to sign documents when he presented one thing but make you sign another and at the end, simply would respond that’s what you signed. He never picked up the phone to call me and discuss details of my loan. And there was no option to go back or cancel. I want the taxes removed from escrow but mainly to inform consumers to be aware.

  Business response

  09/15/2023

  We have been notified by the Better Business Bureau of your complaint regarding your experience with us and we have seen the posts on various sites.  I am sorry that you feel this way, please know that we strive for an excellent customer experience and our reputation is very important to us.   There appeared to be a misunderstanding regarding the percentage of down payment.   I have investigated what would be necessary to waive the requirement for an escrow account on the property located at ** ******** ******, Albany; and I will need a formal written request from you that references the property address and the request for waiver of taxes and/or insurance escrow.  We will submit the request on your behalf, and I will follow up on the request and let you know if/when that request is approved.  You can e-mail me directly at *****************************   Please know that all of us here at Homestead Funding care about our clients. We appreciate all feedback, and we take your concerns seriously.     I can be reached at ************* **** *** if you would like to discuss this further.   Thank you,  Jane A. B*****  Senior Vice President of Operations  Homestead Funding Corp. 

  Customer response

  09/18/2023

  I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this does not resolve my complaint.   They are not addressing the issues presented: I signed on 20% down and they took 25%. Why is there a letter asking us to pay for $110.00 for credit check when that’s been paid during closing. They haven’t reviewed the closing numbers and updated me. yes, I will share my feedback in all available platforms. Rick told me to sign the documents even though they were not what I had agreed to and later told me that what I had signed for. Didn’t change my loan to 20% down. I am attaching all texted communication to my feedback as well.  Regards,  ******** ******

  Business response

  09/22/2023

  Ms. ******, Thank you for speaking with me today.  As I said earlier, I am sorry for the experience that you had with our company.  I am in receipt of your request regarding escrow waiver, and it has been submitted. I will keep you informed of the progress. Very truly, Jane  

  Customer response

  09/26/2023

  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.   Regards,  ******** ******

• Initial Complaint

  04/06/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I have applied for $408k loan and they sent the seller $401K they took out $7000 out of my loan without my permission and put it in their pocket, so before the closing I owned $58k the the seller but since they stold the the money I ended up paying $65k to the seller instead of $58k, please be aware and check numbers on your closing and make sure they do not take a penny from you mortgage without your permission! They own me $7200

  Business response

  04/18/2023

  Hello,In addition to this complaint, the client posted these comments on several social media platforms, and this is our response. I have attached the explanation e-mail. Thank you for taking the time to provide your feedback. We value all feedback as it helps us improve our services. We have thoroughly investigated your concerns and our Vice President of Sales and Senior Vice President of Operation have both personally reached out to you and provided further verbal and written clarification and a detailed explanation. We have confirmed the closing figures provided to you are accurate and we have made every effort to address your concerns. 

  Customer response

  04/18/2023

  Better Business Bureau: I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this does not resolve my complaint.  For your reference, details of the offer I reviewed appear below.The closing costs I brought on the table with my own money which was around $21,000 plus they took out $7,200 from my loan. Regards, ******* ************

  Business response

  04/20/2023

  Hello,We do not agree, and we will not be refunding any money. I have documented our position.Thank you,Jane

  Customer response

  04/21/2023

  They are not refunding so I would like to keep my complain open so other BBB user can read this and avoid it.

  
  
  
  
  

  
  

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩