By:
Jessie
Houston, Texas
Reviewed On:
November 22, 2010
Loan Request:
September 27, 2010
Refinance
After submitting the application, We were called fast and send all information regarding our refinance. We were told it was not going to take long, and were hoping to close by the end of the year. After submitting all paperwork, and approving my home survey, (out of pocket for $400), we did not hear from our loan rep (Mr. Justin Murphy) for about 2 weeks, until I decided to email him. There was no response, so I decided to call and leave a message and request a copy of our home appraisal, since I had pay for it. It took almost another 2 weeks to get a response and to get a copy of the appraisal. Our loan specialist stated the appraisal had come lower than expected and we needed to bring some money in order to get the refinance completed. Did not hear anything again for another two weeks, until I checked my email today with a credit denial, marked under OTHER: CREDIT APPLICATION INCOMPLETE!
What a waste of my time and $400 in the appraisal and not even a call from Mr. Murphy. Dissapointed, Jessie
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Royal United Mortgage Response
Royal United has excellent reviews specific to timely responses, follow-up and customer service. For every future client fully understands what happened on the above case, here are the facts: The client formally accepted the Royal United offer on the 7th of October, the client scheduled their appraisal to be seen on the 12th of October, the appraisal report was received by Royal United the 15th of October (Friday afternoon). Because the clients property value appraised lower than expected, the clients loan was reworked to accommodate the clients goals and objectives and the client was provided new options in writing on October 18th (Monday). After numerous attempts to speak with the borrower, Royal United received notification from the borrower on October 31st that he had been on vacation and was unable to return our calls and emails. On Nov. 1st, Royal United was finally able to speak with the borrower and review the benefits as well as the additional documentation Royal United would need to complete the clients loan request. Because the property appraised at a value less than expected, the client was unable to obtain the initial amount of cash requested on October 7th. In this case, the client never communicated with Royal United if they wanted to move forward with the approved loan structure nor did they supply the necessary information needed to complete their credit application.
