By:
Alorial
Baltimore, MD
Reviewed On:
August 18, 2011
Loan Request:
May 1, 2011
Loan Closed On: July 5, 2011
Service peaked early
My experience with WestStar started out beautifully. I got a prompt call after my loan request and my loan officer provided a detailed explanation of the loan worksheet that he prepared for me (the worksheet was done the day after my loan request.) I was shown how different rates would affect my payments, along with the amounts of interest and estimated taxes that I would pay over the life of the loan. This was all very valuable information in my loan decision, and I was glad to have everything explained clearly. After the initial contact (once I had put in my formal application and paid for the appraisal) things became more disorganized.
WestStar does all of their documentation electronically, which I definitely liked. However, there were some pieces of information I had to submit several times to different people working on my loan (even though I supposedly had a file on their server with all of the information I submitted in it), and there were several mistakes on my loan application that took days to resolve. Their loan application system will not let you read beyond a page until you sign it, so we would discover an error on one page, ask for a correction, and then discover another error on the next page only to repeat the process. Each error took about a day to correct, so a process that should have taken 30 minutes took 2-3 days. Very unprofessional, as far as I'm concerned.
I knew going in that West Star is a mortgage broker, but in case you are not familiar with this, be aware that your loan will be sold shortly after you close. I only paid one payment to WestStar, and my loan is now in the hands of another lender. I don't have a problem with this practice at all, just want people to have the information so they can make their own decisions.
Overall, I was left with an average impression of WestStar, and think that for another $200 in closing costs I could have worked with my bank and had a little more peace of mind during the process and a bit more professionalism. If you want to save money, they offer very low origination fees, just know that you get what you pay for.
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