NMLS# 2767

4.5 of 5stars861 Reviews

Freedom Mortgage Corporation

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    Recommended 86%
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Lender Summary

Founded in 1990, Freedom Mortgage is a privately held, mortgage lender and servicer, licensed in all 50 states, with 8 operation centers nationwide. As our nation’s every-person mortgage company, we are on a mission to help everyone achieve the dream of home ownership.  We are a member of the Mortgage Bankers Association, the National Association of Mortgage Brokers, and we are one of largest originators  of FHA/VA (GNMA) loans nationwide. We have over 5,200 employees, more than 1 million customers that we service every day, and we are funding over 6 billion dollars in loans each month.  Freedom Mortgage acquired J.G. Wentworth Home Lending in October of 2019 and are thrilled to welcome them to the Freedom family.  Freedom Mortgage Corporation 907 Pleasant Valley Avenue, Mt. Laurel, NJ 08054 Lender NMLS ID: 2767

What they're saying

Ratings & Reviews
861 Reviews
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  • Fees & Closing Costs
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Review Breakdown

Showing 3 star reviews | Show all reviews

Application process very good and easy; the response to later concerns unacceptable!

We were extremely happy with the loan itself and the fast, smooth loan application process. When we received an odd looking email from "Mar*****************@*********************.com" and seven or eight phone calls from an unrecognised number that left no message 2-3 weeks after applying, we called our loan origination officer to ask for verification of the email and phone number. None of our calls to the origination loan officer were answered. He showed little desire to help us with our concerns until contacted by email. Many calls to the customer care and loan scheduling departments resulted in "the email address is not ours," "does not look like a valid email," and similar responses about the phone number. The loan officer's response was basically "not my problem. don't know what you want from me." If the loan origination officer could not answer our concerns himself, we at least expected him to pass our concerns up the chain at Freedom Mortgage until he found someone who could definitively state whether the email and calls were indeed from your company or not.

Did not meet expectations

I had been a customer of Freedom for about 3 years and had nothing but good experiences. In June, we saw rates were dropping so we decided to do a cash-out refi to pay off some debt. We called Freedom on 8 July, but the agent we spoke to was not able to get us a lower rate than we already had. I researched other companies and found one that could give a good deal. We proceeded with the refi with them, had an appraisal completed, and was on our way to closing. When Freedom received the call to get the payoff for our loan, they contacted me and asked why we were paying off the loan. When I told them I was refinancing, they asked what the terms were. I told him and he asked if he could run the numbers to see if they could beat it. I said we tried with Freedom, but they couldn't get the rate down. He said he was an "executive loan advisor" that could offer better deals. I agreed to run the numbers and he came back with a great deal. I said we were set to close in a week and asked if we would be able to close somewhere close to that date. He said "we have the best processor within all of Freedom Mortgage assigned to your file to help expedite it" and "I can confidently say 2 weeks is sufficient as long as we can get the appraisal transferred quickly," so I agreed to go with Freedom. He said that, since it was a VA loan, we would need to have the appraisal transferred from the other lender (who had paid for it and was going to include that cost in the refi). That was the point things started to go downhill. I asked if Freedom could pay the other lender for the appraisal and roll it into the refi, like the other lender was going to do. He said he would check with the appraisal dept, but didn't see an issue. That was on 9 Aug. On 21 Aug, I asked about the appraisal and he said they were still waiting for it to be transferred. I called the other lender and they said they hadn't seen any payment come through, but would transfer the appraisal as soon as it was paid in full. She even gave me a link to provide to Freedom in case they wanted to pay by credit card instead of by check to speed up the process. I called every day to see if they had received the payment. On 26 Aug, I asked my loan advocate about it again and he said "I’ve received confirmation that the check will be sent out tomorrow. I’ve requested it be expedited to" the other lender. When he said "expedited" I assumed it would be sent overnight, or at least 3-day priority mail. Nope. The other lender received it via normal mail on 5 Sep. there were additional issues because the other lender said they needed Freedom to contact them to request the transfer. My loan advocate called me and sounded very perturbed and said," I don't know why they need a transfer request. That's just an extra step, but I'll call them." They eventually got the appraisal transferred, but on 10 Sep, I got an email saying "Your appraisal was reviewed and we need the appraiser to make a minor comment on his report. Once that is back, I can submit your loan to underwriting." He couldn't give me an estimated time when that would be, so I called the appraiser myself. He said he hadn't heard anything or seen any requests from Freedom, but they could call him directly. After 2 days, they were finally able to submit it to underwriting. We got the approval and set the closing date for 17 Sep at 1:00 pm. All was goo****.until the 17th. I had received an email a couple of days before, saying I would receive a call prior to the closing date from the notary, explaining the process and documents we would need. I never got a call. At 12:10 on the 17th, I called the title company, just to confirm the appointment (I woke up with a bad feeling) and they told me the appointment had been cancelled! After several phone calls back and forth between the title company and Freedom, the title company said the notary cancelled the appointment because they never received the closing documents from Freedom. My loan advocate looked up the information and said it showed the documents were sent the day prior at 1000 am. The title company had no record of them, but they were able to get the appointment rescheduled for 3 pm that day, on the condition that Freedom could get the documents to them. My loan advocate was able to get the documents to them and we did close that day. Finally over, right? Nope. I wasn't able to look as closely as I needed to at the closing documents, and there was an error with one of the checks they were set to issue to one of our credit cards we were paying off. They duplicated one of the checks for one credit card and didn't issue a check for another. It was easier to just talk to the CC company they duplicated the check for to resolve the issue (still working on that part), than to try to get Freedom to fix it.
I think my biggest complaint is that I was doing the leg work to resolve the issues that came up. Yes they would send an email, but there was no follow up, especially when things were supposedly "expedited." If I expedite something, I expect a quick response time. If I haven't heard anything within 24 hours, I pick up the phone. More than once I had to call people (other lender, title company, appraiser, etc). I guess I just have too high of expectations.

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Freedom Mortgage Corporation

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