Our mortgage was sold to Freedom Mortgage. Back in July 2016, they called us with the opportunity to refinance at a lower rate. They were to pay the closing costs, the appraisal fee... everything. It sounded too good to be true, but I asked a lot of questions in writing (via email) and it sounded okay.
We have excellent credit and no debt other than our mortgage. Banks and credit card companies fall all over themselves trying to loan us money because we are responsible borrowers.
We immediately did anything Freedom Mortgage asked of us. Signed documents, sent pay stubs, whatever it was... we did it quickly. The problem was always the appraisal (a company they chose). The underwriters kept sending it back to the appraiser for "corrections." No one could ever tell me what these corrections were that needed to be made, and apparently the appraiser never did them in a timely fashion.
Finally, by October... OCTOBER!... we thought we were finally seeing the light at the end of the tunnel. But by then, our documents were expired and we had to re-submit them, which again, we did immediately.
Then... surprise! MORE CORRECTIONS were needed to the appraisal! After a few weeks, they were done. It was November 22 (the date I'm writing this) and the mortgage processor called and said she thought everything looked good. Then a little while later, I got an email from her. The documents were expired and out of date again... including our credit report. We had to send 2 months worth of pay stubs, re-sign a commitment letter, and have our credit report pulled again.
I called my husband and we concurred... we are DONE with this company. We figure it would just be the same thing all over again. We'd send the documents and then find out more corrections are needed. We're just DONE and withdrawing our application.
We have never had any trouble like this getting a mortgage loan. I don't know if it's incompetence or dishonesty - trying to make us angry enough to forget about getting the refinance - but something is really wrong with this company.
The only positive thing I will say about them is the mortgage processor was a kind young woman who I believe was doing her best. I hope she someday finds a job at a better company because it can't be easy dealing with upset people... and upon reading others' reviews, I'm sure I'm not the only one she's had to talk to.
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