NMLS# 348852

Patriot Bank Mortgage

Lender Summary

Customer Service is more than just a marketing phrase at Patriot Bank Mortgage. We consistently deliver the highest level of service to our clients. Here's proof. LendingTree.com has awarded Patriot Bank Mortgage the following:

Top Close Rate Purchase Lender, 2002, 2003, 2004 and 2005.
Customer Service Excellence, 2003.
Top Closed Units Purchase Prime Lender, 2006.
Outstanding Long Form Partner Purchase, 2007 and 2008.
Patriot Bank Mortgage has also received the Better Business Bureau's Award for Excellence in 2005,2006,2009,2010 and 2012 and its Pinnacle Award in 2008 and 2011. 
Our proven high level of service and "first place" competitiveness results in satisfied clients across the country.
We look forward to serving you!

What they're saying

Ratings & Reviews
2105 Reviews
  • Interest Rates
    Excellent
  • Fees & Closing Costs
    Excellent
  • Responsiveness
    Excellent
  • Customer Service
    Excellent

Review Breakdown

Showing 1 star reviews | Show all reviews

Lousy would not recommend to my worst enemy

They had continual and non stop requests for paperwork. They has to opportunities to close and could not get all paperwork completed on time. The Seller of the property refused to work with them anymore due to the non stop paperwork and lousy follow through.

Although we did close your loan on time, it did not fund for 2 days. Had we received the loan application supporting documents earlier in the process we could have had more time to deal with the problems we experienced at closing with our title company. However, I will agree that this was not our finest performance.
  • LendingTree Customer:

    Yes

Buyer Beware - Refinance Debacle

What caught my eye about RMC Vanguard was the very high reviews here, their special Costco Member pricing, pretty competitive rates and an extremely professional Mortgage Loan Officer(Iva Burmeister) who gave me initial estimates. Back on April 9 when the market for 15 yr fixed mortgage was smoking hot with rates at an all time low, I thought I had made a good decision in choosing what I thought was a great deal for a 15yr fixed mortgage with very attractive closing costs and APR and I had chosen a Costco “partner” to help me save some money. The first few weeks appeared to be smooth sailing that I thought I might even close in 30 days. Now, 79 days and 2 rate lock extensions later, I am beginning to regret my decision, since through one unpleasant surprise after another, they’ve added additional costs to my loan and now want me to pay for the third rate lock to further increase my closing costs while I am 13 days away from the deadline of the 3rd and final rate lock with no end in sight with repeated underwriting challenges, delays and surprises. With the July 4th holiday approaching I am left wondering will this loan ever close?? They seem to be plagued by one process issue after the other and appear to be either substantially understaffed to handle the loan volume over the past couple months where many details have been falling through the cracks. I’ve had to repeatedly provide the same information, sign and resend different versions of the same documents due to incorrect forms being used which have all added to delays with the final loan approval.

What really left me questioning whether to even spend anymore time working them was when I escalated to their “Sales Manager” (Cara Irish) to review the facts of my file closely and acknowledge that most of the delays had been caused by delayed follow-up by the RMC Vanguard loan processing team, she continued to make excuses for delays “beyond their control” and that due to additional costs of extending the rate lock of this loan, that I now have to foot the bill for it. When I mentioned that if this loan was processed with a little more urgency and diligence it might have closed more than a month ago as initially estimated, I would have successfully moved from my 30yr mortgage with 2% higher interest and actually would not have been still with my 30 year mortgage paying almost 2% higher interest per month she seemed disinterested and appeared to trivialize my predicament.

If the concern was costs from investors, maybe they should have paid a little more attention 4 to 6 weeks ago as to what was going wrong with my loan with delays with underwriting and loan processing when the first and second rate lock was needed and granted at no additional cost. At this point so much time has passed and the 15yr fixed mortgage rates have changed so substantially unfavorably that RMC Vanguard is using that to their best advantage to hold me hostage to a loan where the costs have more than doubled increasing my APR by 0.24% since the initial quote. Maybe these folks have been good in the past, but have definitely not lived up to their expectations or reputation. Their loan officers might be professional, courteous and friendly but are only as good as the team they are supported by. I’d think twice or thrice before ever choosing them! They don’t seem to be exhibiting the caliber one would expect from a Costco partner.

Hello, yes you are correct, this is not our finest moment. We locked the rate initially on 4/9 for 45 days, We received a substantially complete loan application from you on 4/19, The appraisal came in below target on 5/16. As of the today (Jun 28th) we have paid for 30 days of additional lock extensions due to the delays caused by what I feel are our internal staffing issues particular to your transaction. Yesterday, our sales manager did call to say that this additional 15 day extension would be at a cost to you of .25 % of the loan amount with the same interest rate. We hope to have this loan complete by the time this recent extension expires. Owen Raun – President.
  • LendingTree Customer:

    Yes

Buyer Beware

I connected with RMC Vanguard through the Lending Tree website. I spent 2 months moving through their loan process. They approved my financial profile/found me credit worthy for up to twice the purchase price of the house relatively quickly and offered a reasonable rate, which I locked. I am attempting to buy a home in metropolitan Washington State at $304K. The independent appraisal for the property came back at $305K. They shared, however, that they were "not happy" with the comparable properties. They proceeded to deliberatefor more than 30 days on whether they would or would not fund the loan. On the day before the closing date, they would still not confirm or reject whether they would fund the loan and would not say when they would be able to make a decision. RMC's lack of ability to decide whether they would fund the loan or not has resulted in me scrambling to find a new lender the day before closing and potentially loosing the property sale. Buyer Beware.

I am sorry this transaction did not close. The property is unique. It is located on a very small strip of land called Day Island which has very little turn-over. Day Island is a very attractive place to live for people in Tacoma, WA and most property on the island sells for close to $1M if/when there is a sale. Jamie’s property was a smaller foreclosure that was selling for considerably less so finding comparable properties for the 3rd party appraiser to use was the main issue. Timeline: Nov 14 - Initial contact with Jamie Jan 24 - Full application received Jan 26 – Rate locked Jan 25 – File pre-underwritten, credit and income approval issued Jan 30 - Appraisal ordered Feb 7 - Appraisal received Feb 14 – Appraisal determined to be below standards and additional comparable properties requested to be added to the appraisal report. Feb 17 - Notification to Jamie that appraisal is a concern Feb 17 - Submission of appraisal to investor underwriting department to see if they are ok with appraisal as received Feb 21 - Investor response received. Investor also wishes to see additional comparable properties added to report. Feb 21 - Notification to Jamie that investor review of appraisal is also a concern Feb 24 - Revised report received from appraiser. Feb 27 – Report sent to investor. Mar 1 - Revised report review by investor underwriter, still lacking, but sent to management for further review Mar 13 – Revised report review by investor management/supervisor and still lacking Mar 13 – Jamie notified of decision A few years ago this appraisal would have been accepted. Increased rules around collateral underwriting make unique properties an issue. Our loan officer worked for several months with Jamie and did a good job of communicating status and concerns to her. Again, I am sorry this did not close as planned.
  • LendingTree Customer:

    Yes
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LendingTree Certification:

The LendingTree Certification Program recognizes Lenders and Loan Officers with outstanding performance on the LendingTree Network, they are committed to providing exceptional customer service and are graduates of LendingTree University.

LendingTree Certification:

  • Certified Lender
    Certified Lenders have demonstrated their organizational commitment to employee development, at least 50% of their loan professionals have been certified while also providing exemplary service to LendingTree consumers.

Loan Officer Certifications:

  • Gold Leaf
    Gold Leaf is the cornerstone of the loan officer certification program and is designed to recognize loan officers committed to their own professional development while adhering to LendingTree best practices. Gold Leaf recipients know the fundamentals of LendingTree and online lending, they are equipped with the necessary skills to be best-in-class loan professionals.
  • Certified President's Club
    President’s Club is presented to an elite group of loan officers based on success levels in several areas including adherence to LendingTree best practices, commitment to professional development and dedication to customer excellence. Recipients have also met all Gold Leaf criteria.

Patriot Bank Mortgage

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