Royal United Mortgage was founded with the purpose of enriching lives in the communities we serve by providing an unparalleled education and service experience for our customers and employees. The Royal United Mortgage product and pricing process is customized to meet both the short and long term goals of each individual client. We believe the customer expects honesty, education, and results; Royal United was built on these principles.
Cunsumer ALERT *Bait & Switch* company
If you are seeking a lending institution which employes "Bait and Switch" tactics to try to win your business and intentionally conseal overall loan costs - THIS IS YOUR COMPANY !!!
HOWEVER - if you are seeking upfront truthful and non deceptive immediate loan costs informations, there are most definitely other mortgage instutions which will truthfully provide such information from the immediate start.
Consumer - *BE AWARE* Potential "Bait and Switch"
My following omments may more appropriately pertain to Royal United Mortgage rather than the actual agent himself given the guidance process of the mortgage company itself. Thus the following comments may very well NOT reflect the overall intergity of this loan officer given the guidelines of his company.
After sharing much personal assett and liability informatioin with this officer and my goals for obtaining a cash out loan on an investment property, I was offered 3 loan options. Prior to sharing my personal details and SS Number, I advised this loan agent of my time spent investigating and searching for the best loan options for my personal situation. I made it perfectly clear that I was seeking a bottom line actual loan cos. tHowever up to compare with other lending institutions.
Within an hour I was presented 3 loan options which appeared very impressive and acceptable.
However, upon closer inspection, many important details were intentionally ommitted which seemed to me to be an intentional "Bait and Switch" tactic.
NOT included in either of trhe 3 options which were intentionally ommited:
1. actual lorigional loan amount
2. actual fixed interest rate
3. final and actual financial costs of the loan
4. were all costs of the loan include?
When I asked for the above ommited information to be presented in writing, I was informed by the agent that it was against company policy to put this info in writing "due to potential massive legal complications (you know what comes out of the rear end of a bull?). The offered to give me this information verbally only ? ? ? ? When verbally revealed, the actual loan cost proved to be 90%-100% higher than the best loan offers I received from competitive lending institutions.
Interestingly enough, the more questions I asked somehow resulted in our phone conversation becoming disconnected ?? Also interesiting, the agend never bothered to call back after the disconnection ??? Thus the purpose of this review ??
On a very positive note, if you are seeking a loan and don't care if you are getting the straight and truthful loan disclosures, and you don't care how much loan costs are "built into the loan" this company and agent could be your top choice.
Advice to future borrowers working with Royal United Mortgage: force the mortgage originator to disclose fees early. I had to become a nuisance constantly requesting the fees and dollars to close to be itemized only to discover they were more than happy to charge me 3 points and had I not forced the issue, I would have found out at the closing table, too late to do anything about it. I moved my loan to another lender that did NOT charge any points and decreased the rate.
Loan officer directory
Maricia QuesadaIndianapolis, IN
Barry TeagueIndianapolis, IN
James GrothIndianapolis, IN
Charles PeelleIndianapolis, IN
Samuel PerryIndianapolis, IN
Greg WatsonIndianapolis, IN
Richard SalazarSchaumburg, IL
Jared VailIndianapolis, IN
Mary OliverLitchfield Park, AZ
Jeremy CooleyIndianapolis, IN
Steven DavisIndianapolis, IN
Jordon KaneIndianapolis, IN