Intercontinental Capital Group

WORST experience EVER

My loan has been in the application and final approval status for SIX months now. ZERO customer service, urgency, or support. DO NOT finance with this lender they are not to be trusted.

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Beware of this company

My experience with Intercontinental Capital Group started early last February after submitting a request to Lending Tree. I was looking to refinance with a cash out option for 20 years and was narrowing down my choices when Rodney Atkins called from ICG. He quoted me a rate of 2.25% for 20 yrs, no points and a lenders credit to suck me in as it was .5% lower than other quotes. The communication was great to begin with and Atkins was very knowledgeable and responsive to my questions. That is, until I submitted my application then things slowed down. There were delays in his completion of my written quote after submitting the required documents. After about a week of my questioning the delays, I received the written estimate which now had a slight rise in the quoted rate and lenders credit which Atkins said was due to the cash out and an extension of the rate lock to 75 days as processing was taking longer. I agreed and made it clear I wanted the rate locked.
The signed estimate was submitted on the ICG portal and after about a week, I text Atkins to ensure the process was in motion which he responded he would, "Dive in" and get back to me. I questioned if, "Dive in" meant to lock the rate which he responded (in text) the loan was being processed, but the rate was floating in his text he also said "We will honor the rate extended to you at 2.375% for the 20 years" even though rates now were rising. He apologized for the delays and offered another excuse for the delay that he wasn't feeling well. I told him I was confused as to why the rate was floating when I made it clear when submitting that I wanted the rate locked and should there be any changes later to the quote I would withdraw my commitment to ICG. There was no further communication at that time and it was my understanding the refinance was being processed and I would be notified when ready for closing as previously stated by Atkins.
So, after about 60 days, I text Atkins and received an auto reply that he was temporarily unavailable and Scott Sumner would get back to me in his absence. After 5 days of no further response, I made numerous calls to Atkins which were forwarded to what I assume is the ICG main line and left messages for someone to call me regarding my refinance. Again after NO response, I called directly to the main phone number of ICG and talked to an ICG receptionist after navigating their phone system and saying I was looking to talk with someone about a new loan. After about a week of talking with a customer service and a regional sales manager who both told me they were unable to get into the files to see what was going on with the refi, I was finally called by the V.P of sales, Scott Sumner. I was told Atkins was fired and my refinance was NOT submitted for processing, so the loan would have to be re submitted due to the timeframe and the rates, lenders credits, etc would obviously be higher. I sent Sumner copies of my text conversations with Atkins saying ICG would honor the quoted rates and in my conversations with Sumner told him it was ICG's problem, not mine that the refi was not locked and being processed as stated by their loan officer. There were questions to me about what I would be willing to settle on for a new refinance and I stood my ground that I only wanted what was quoted. Sumner agreed to consult with his management and I was later informed by a separate agent that it would cost ICG approximately $12,000 to honor what was earlier quoted to me and they were not willing to do that. Obviously, my commitment to ICG ended and now Im back to trying to find a REPUTABLE company to refinance with these rising rates.
I initially did my homework on ICG and a majority said they were happy with the ICG communication and refinance process even though it was taking longer than normal. I have refinanced several times in the past 40 years and have NEVER had this horrible of an experience so, please BEWARE OF THIS COMPANY!!

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On multiple occasions I was told he would call back in “a few seconds” and in reality I heard from him about 2 weeks later when he finally returned my call. Rarely would he answer his phone and he never returned phone calls. He made several errors during this process which in turn caused me to miss a payment on my mortgage and undue delays in the processing on my refinance.

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Scare Tactics

First off, I had done my research and applied at 2 other companies before even contacting the Intercontinental Capital Group. When I was trying to make one final attempt to make sure I was picking the best deal for me I got connected with Todd Voorhes and I had an off feeling about him the first time I spoke to him on the phone before he even ran my credit but I was keeping an open mind and allowing the process to go through. He would cut me off and tell me this is what I needed to do and that I already favor him over another loan agency because I reached out... "okay man whatever let's see what you can do." Before he even runs my credit he asks me what the other lenders got me on my rate... "pump the brakes! I am not going to disclose that information I want you to come in aggressive and get me the best rate possible for me." Well, he came back and the rate wasn't off by much and it was close but I have made up my mind that I was done shopping. He insisted that I tell him what my rates were and what my closing costs were. I am a completely open person and when I showed him he tried picking it apart and saying how they could serve me better even with a slightly higher rate(roughly $30 more a month) that was his way of saying it. I look at the whole loan not just a monthly payment. I understand that is his job to try to gain the buisness but it didnt stop there. He then told me my closing costs were going to change(I could see an additional 5-6k added to my closing)because it looked like the broker was hiding an origination fee that they were going to hit me with at closing. This got my gears spinning and kind of threw me off-guard. Then he offered me a free 60 day extension on closing that they would pay for me(trying to sweeten the deal). I then reviewed the documents he sent me and did some calculations and if I would have went with him the 5-6k in origination fees he was trying to scare me with was nothing compared to what I would pay in their(ICG) origination fees and the added cost of having a slightly higher interest rate. I'm done at this point there is no more explaining he needs to do to try and gain my buisness I've made up my mind. He didnt give up there, he then sends me an urgent email followed with a phone call and text... he told me "you need to request from your lender you want a Letter of Guarentee that the closing costs outside of 3rd party charges cannot/will not change, this is to protect you from getting hit with those originations... if they wont do this then you should be really concerned." I requested this from the other lender and they politely refused and since they were the middle man in the deal they couldn't/wouldn't make this commitment. Well now I am concerned again about my choice I felt so strongly about. So I reached out to Todd again and told him if he could provide me with that same Letter of Guarentee that I would strongly re-consider using ICG as my lender... well my email addressed was now blocked and I even sent him a text on his cell phone of the error message I recieved in email. He GHOSTED me. I settled with my decision of going with the other lender, finally got my final disclosures and the Broker is paying the lender for gaining the buisness rather than me paying origination fees Todd was so adamant that I was going to end up paying in the end. The broker is making their money off of the loan and the loan only not off of my closing costs like all these other lenders try to. I don't like being treated like this and neither should you... Keep this in mind when doing buisness and don't fall into their scare tactics, stick with your gut and shop.

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Do not apply if you are a small business owners

Terrible experience with ICG where I explained I was a small business owner that reported my business on Schedule C of my tax return and was told no problem. I spent weeks applying providing all kinds of information waiting weeks on end for status updates only to be told over 50 days into the process that I would need audited financial statements from my small business that would take 90 days as cost 20k to complete. What a waste of time. Oh, and my lending agent called me pushy and difficult because I asked questions.

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Worst experience ever

These folks made me believe they will be refinancing my home however I am done after waiting for nearly 3 months and submitting many and many forms again. Try to spend time with a more legit company instead of these unprofessional company. There is little communication and hardly response to my emails. I have already spent for appraisal which was no practical use since so-called underwriter thinks I am an illegal resident

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He told us that he could close a mortgage in 60 days and that the average time was 75 days.... in actuality it was only a few days short of 5 months (150 days) to get mortgage... and that is with us basically doing half of the closing documentaion ourselves. He did absolutely nothing to facilitate getting the loan through processing. This company has no sense of urgency and cares less about individual customers.

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