Network Funding, LP
95% of our customers would recommend this lender.
About Network Funding, LP
At Network Funding, we embrace the role of technology in the mortgage loan process. However, we believe that it is no substitute for one-on-one interaction with our clients. Our number one goal at Network Funding is to help our clients understand how...Read more
Lender ReviewDebra from Temecula, CA
Home Equity Requests BewareResponsive loan officer to a degree. I requested a Home Equity Line of Credit but was not approved although was advised to refinance not at all what I was interested in or asking for - beware!!!! Funny how I could be approved to refinance but not get a line of credit a little shady for my taste.
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Lender ReviewBUhat from Waco, Tx Confirmed LendingTree Customer
Buyer BewareI am a first time home buyer. I expected this process to be lengthy and involved. I also thought, I knew what I was getting into. Boy was I wrong. When I was first contacted by my loan officer, Brad Richards, who I must admit, is wonderful, we discussed a fixed rate for a 30 yr mortgage at 3.5% with a 4.0% APR. I was very satisfied with this, to the point I dropped my initial lender and gave Brad my business. Weeks later I would receive my first set of disclosures. The rates had gone up to 3.625% and 4.1%. I questioned Brad on this matter and he assured me there was nothing to worry about and that their company prefers to over estimate so that there are no surprises at closing. Satisfied with this answer, I continued on. Yesterday, 13 days before closing, I received my final set of disclosures. Enclosed was my locked in rate of 3.75% and 4.24% APR. Furious, I called Brad. He told me the market had changed and average rates were at 3.7%. Not buying that, I phoned my initial lender. He was still able to get me rates at 3.5% and 4.0%. I asked him why Network Funding could not do the same and he could only tell me that they should be able to get the same rates. Unsatisfied with my rates, I called Brad to tell him I wanted my rates fixed or I would consider taking my business elsewhere. For my troubles, I received a $475 credit (the cost of my appraisal). I was told they could not change my rates as they were comparable to the current market. They basically bent me over the barrel, dropping a bomb on me 13 days before closing. Because I have so little time, and fear the thought of not closing on time and asking my sellers to extend our contract, I am forced to take this kind of treatment. Never again will I use this company, nor would I ever recommend them to anyone I know. Maybe my worst enemy. And before anyone from Network Funding decides to respond to this review, let me just tell YOU, I looked TODAY, on this very site, and see that rates in Texas are as good as 3.38% with an APR of 3.5%. So don't tell me I got what the market was offering. Sell that junk to someone else... Read More
Was this review helpful?2/26- I received Ms. Heather Turner’s lead. She didn’t have a house picked out yet and wanted to discuss rates & APR. I mentioned to her that the par rate was 3.5% with no lender credit. At this point she hasn’t decided if she will be paying the closing costs or getting seller contributions. I also explained to her that I can only estimate the APR for now since she wasn’t committed to a purchase price, etc and also mentioned that the APR is just an estimation since I have no control over third party fees that are included in the calculation of the APR. 3/7- Ms. Turner contacted me and was under contract on a particular home. I received her necessary paperwork and supplied her with the initial disclosures. She didn’t receive enough seller contributions to cover all of her closing costs so we mutually agreed that bumping up the rate to 3.625% will give her a lender credit to cover the remainder of the closing costs. She agreed to this plan and had no issues with it at this time. We also decided to float the interest rate since her closing date wasn’t scheduled until April 18th and this was outside of the 30 day lock period. 4/1 – The closing date was pushed to April 10th. Upon reviewing the interest rates, I informed Ms. Turner that the market took a turn for the worst and the rates have increased by 1/8. We discussed the rate and there was no surprise as we already talked about what was going to be locked. She had no problem with this until April 3rd when she decided to call another lender which told her (obviously) a better rate and APR. Rates have definitely turned lower this week from when we locked. Rates adjust up and down weekly. If a rate was locked on 4/1 and the market is offering a lower rate today it’s obvious there are better deals currently. The day the rate was locked was the best rate available for that day based on loan criteria for this specific borrower. In order to close the 10th we have to lock in a rate prior to so that we have enough days of disclosure for compliance purposes. Our rates are what the market averages for that specific day and any adjustments based on your criteria. We even provided an additional credit for the appraisal back to the client to provide some comfort assistance after locking the loan. If were compared apples to apples the same day of rate locked we would be right where the market average is. The loan is scheduled to close on time, and we did a great job processing the loan from start to finish which is the most important factor.
Lender Reviewmtande4 from Oklahoma Confirmed LendingTree Customer
No responseThe initial guy I talked to said that I could not get a loan. That part was fine, I know I have credit issues. I e-mailed him to try to get some answers to very basic question I had and got no response. I tried e-mailing him again and got no response. I guess what I'm saying is that once I get my credit issues fixed (should be within the next few months) I will be using a different lender... Read More
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Lender ReviewUSAF from Indiana Confirmed LendingTree Customer
Network FundingSuppose to be a VA streamline refinance ... far from it ...they treated as a regular loan, want termite inspection, finance records for past several months even though not required to put any money up; every day something new they wanted done, etc etc.....even after it had been through underwriting were still coming up with new things ... stay away would be my recommendation very bureaucratic..... Read More
Was this review helpful?In response to the review given by Mr. Duprey, I would like to comment on how events transpired. Mr. Duprey wanted a streamline VA refinance. He called the VA prior to us closing the loan and they told him their guidelines. Mr. Duprey felt that there were loan conditions requested by us that did not match what the VA was telling him were required. I explained to him that the VA does not originate loans, but provides guidelines. Lenders have requirements that are necessary to make certain these loans satisfy our investor’s requirements as well. Therefore, there will be additional requirements if we want to sell these loans. Mr. Duprey was defiant from the beginning in that he did not think what we requested was necessary and threatened to cancel the loan on several occasions. His review is based on the fact that he believes we requested items continually, but in realty he would not provide what was requested at the beginning, so after the loan was underwritten the items we requested were again required by the underwriter. This upset him, but I reminded him that the items underwriting is requested is what we requested at the beginning. As bad as his review is, he has chosen to send us another loan to close for him. He told me verbally over the phone that he realizes he was hard on us because he just doesn’t like sending things in; in other words, it took too much time out of his day, therefore it was easier for him to attempt to argue his way out of the necessary items than to just send them in. Our group treated him professionally from the beginning, while we did not receive that same type of treatment from him. Furthermore, we paid for much of his closing costs to keep him happy and he still complained all the way to the closing table. Mr. Duprey was difficult from the beginning and believed he was above the requirements we must abide by in order to successfully close loans. Nevertheless, the loan closed and he has sent us another loan to refinance.
Lender ReviewSandrainDFDub from DFW Confirmed LendingTree Customer
Works if you are a square peg in a square holeI was just about settled on using Prime Lending for our mortgage in Dallas. Before I did that, I went on Lending Tree to ensure the rate was competitive. Having never used Lending Tree before, I did not realize the phone would ring off the hook and my email would become posessed, literally less than a minute after I pressed the send button. Anyway, I took a few calls over the next few days from Lending Tree affiliated mortgage institutions. David from Network Funding was the only one that really stood out, as well as his rate. I even presented the Prime Lending associate with Network Fundings figures. He agreed that he could not beat the interest rate and lender credit and said I should really go with Network Funding. So I did. I sent David’s processor all the info she asked for and quickly attained a pre-approval letter. As we had already been staring at houses on the MLS for months, I took David’s reccomendation for a realtor and we quickly went shopping. It took one day and 12 houses to find the house we wanted. The offer process started on a Friday and ended on Sunday. All of a sudden, on Tuesday, David started to say we had problems. I had an odd situation where I had 2 jobs. One I had worked for 3 years as a 1099 contractor, the other I had worked for a year and a half as a normal W-2. This info was divulged to David during our very first discussion. He said it was not going to be a problem. So here I was with an executed contract and my lender is all of a sudden saying the Mortgage is not going to work. I was told it was because I did not have a 2 year work history at BOTH jobs for a VA loan. Thank god I had started to work with the Prime Lending associate, Mike. It turns out I did not need both jobs to have a 2 year work history. The loan got final approval today for just an eight of a percent higher than David had quoted me. The bottom line is things probably go fine at Network Funding if you fit the square peg of their computer software. If you have a situation that they do not have a box for, they will give it a go anwyway I guess – don’t get stuck like I did... Read More
Was this review helpful?I am glad to hear that you have a final approval of your loan with another Lender. I wish you only the best in that regard. Please let me know if they are able to close you via an approval from the VA. In our initial discussion, I voiced my concern in regard to your employment history. We discussed the fact that you had two jobs and both were needed for you to qualify for the mortgage, but that one of these jobs was not quite two years in length. Since this was an extenuating circumstance, I informed you that we would not have a definite approval until we had received all of your documentation and it was reviewed by Underwriting. After receiving this information from you, Underwriting called the VA for a determination as to whether, with your 1 year and 3 months of employment at the one job, they would qualify you for a VA Loan. Unfortunately, the answer was an emphatic No. At that point, we were unable to proceed and you were informed immediately of the decision. This has absolutely nothing to do with a "square peg in a round hole." It has to do with VA and Fannie Mae Guidelines that ALL lenders must adhere to per each individual case file. If you take a look at all the other reviews on a Lending Tree website, who will see not one single blemish as per our Customer Service record. Please also refer to JMJ Mortgage Capital, LLC on the Lending Tree Website where you will see 157 excellent reviews of our firm with not one negative to be found. We are extremely proud of our record here in every way. As you notated yourself in your review, our Rates, Fees, Costs, and Responsiveness were second to none. We also believe that our customer service rated a 5 as well. I hope that your mortgage process works out for you at this stage and that somehow the other Lender has been able to convince the VA to approve your employment history. I will be very happy for you and your wife if that occurs.