|Address:||500 Winderley Pl #300, Maitland, FL 32751|
|Working:||8AM–7PM 8AM–7PM 8AM–7PM 8AM–7PM 8AM–7PM 9AM–5PM Closed|
A Little Documentary of my experience! By far this has been the most stressful and worst experience in my life. I am actually in the middle of the loan process right now and should be closing on Aug. 15 (I HOPE) and I have never been more out of the loop and not knowing anything is driving me crazy. The loan officer seems very unprofessional and does not communicate with me on this process at all which also seems very slow. I was first told I was pre-approved for a USDA loan which was stated on my Pre-Approval Letter. Once we found a house and the paperwork was sent over I was told we were never pre-approved for a USDA loan but we were for an FHA loan. (Again the letter said USDA). I do not understand how they could tell me I was if I actually was not! I told him before my credit was ever even pulled that I did not have money for a down payment. I did not have the money to put down for an FHA loan! So I had to ask my sister for the money because I did not want to back out and lose my deposit and inspection money. And all the time that was already wasted working with this company. I sent them everything they asked for about 3 times. Because apparently the loan officer could not keep up with my papers or was too lazy to actually look so just asked me to send them over again. This all started on July 2 and I was told today that my file was still in underwriting and I would be contacted if they need further info from me. Wow how long does it stay in underwriting because I have been told it was there for 3 weeks now?? I just hope we close on time and all my stress and worry is worth it in the end. It is now August 4 and the processor has asked me for a copy of my soon-to-be ex-husband’s Promissory Note and Home Owners Insurance Policy for the house he owns they said to prove I’m not on the Note. Well if I was wouldn’t it show up on my Credit Report?? I feel like they are working against me and giving me almost impossible things to get. We are going through a divorce and he does not want to give me his documents which have nothing to do with me. Also they want a copy of my child support order from the courts they said to prove I receive the payments and do not pay them? They should not need this as they are not using child support as any source of my income. I gave them plenty of proof that the payments are made to me so why do they need this? It just seems some of the things are ridiculous and unnecessary. I feel like they are working against me. Ok so it now August 11 (Thursday and we are supposed to close on Monday the 15th…. And the Processor just called to say she didn’t have my spouse’s employment verification that was sent about a month ago. I told her yes you do his boss told us he did it several weeks ago. She emails me an hour later and said she found it but it was filled out wrong. She sent it back over and it was sent back correctly. Then she asked me why Brandon’s pay seemed a little low last year. I told her it was because he had a 4 wheeler incident and was out for about a month and he also received a raise. So she says well his employer didn’t put that on here so I am going to have to call him back! Are you kidding me!? How is that even relevant it was over a year ago!!!! This is just way out of hand now!! She also said she received the Home Owners Insurance Policy that proved I was not on it but that she hadn’t received the Note. As if there isn’t already ample proof that I am not on another Mortgage!!! So we closed yesterday and gratefully I am done dealing with RP Funding. I will never recommend them to anyone ever!! They charged me $350 for an appraisal fee up front then charged me for it again at closing and said they will refund my Credit Card but I have not seen that yet!!
It is true there were no lender fees, but the rest of our experience there has caused me to absolutely recommend against them for friends currently buying homes. There seemed to be no communication between the 2 people we had working on our mortgage. We would send paperwork, call/email to confirm receipt of said paperwork, and be told that things were great. Two weeks later we would get frantic phone calls saying the paperwork was an illegible scan/ lost/ need to be resent. This happened 3 seperate times. We had to resend paperwork multiple times after being told eevrything was in order. Our contact person never even bothered openning the files to see the documents we sent. When she asked for a form already contained within our prior tax returns, we were informed they did not have the time to go through our tax return to find that one particular form. My husband and I both work so the constant demands that a form must faxed within 24 hours was taxing. It was also difficult to get in contact with our agent, J, as she would not regularly return phone calls. We had to send multiple letters of explanation every month explaining regular large deposits into our bank account (paychecks, rent from tenant). I had to write leters proving I did not own my childhood home... which had been sold when I was 16 years old. The numerous letters seemed ridiculous as we repeated information over and over. We had a 798 credit score and a large down payment. We had over 2 months between our offer and closing due to the needs of the seller. We were in regular contact with J and asking her if the closing would happen on time. She assured us that everything as on schedule without an issue. The day before closing they demanded another signed letter (this time from the seller). We also discovered they had applied for the mortgage insurance late due to not having other paperwork they had not notified us of. Closing was delayed due to poor communication and outright laziness of our account manager. I absolutely would not use them again. Definitely not worth the frustration! *** Addendum- After writing this initial post we were contacted by RP funding. They called us directly to ask about our experience and to gather information. While our initial experience was not a pleasant one; their commitment to figuring out what the problem was, listening to a complaint, and making the effort to set things right was pleasantly surprising. After an initial contact, our whole case was reviewed and we were contacted again for follow up a week or so later. The issues we experienced with communication and poor review of paperwork were addressed. So while our home loan process was not as smooth as we would have liked, the willingness to hear a complaint and take action to address the problem was refreshing. Not many companies care that much. Hopefully others will have a smoother experience than we did in the future.
My husband and I were originally pre-approved with another lender. We found a house, and our offer was accepted. The very next day, we were told securing the mortgage may be an issue because we did not have 12 months of rental history in the past year. It did not matter that prior to this point, we had rented the same house for over 3 years. That was a red flag for us. We called RP Funding, I got Julie Bretz on the phone. I basically asked her to match our other lender, and asked her to be able to have us close in 3 weeks. That very afternoon, we had our pre-approval. Julie was incredibly helpful and patient with me. I am a bit of a worrier and like to be updated. She responded to my emails immediately, and answered all my questions patiently. Julie was proactive in that she knew what additional information might be requested by the underwriter. We were able to have almost everything in by the time the underwriter got our file. She made me feel like we had everything under control. All this while being days away from her own wedding. A gem! She called me a few days later to personally congratulate us! We were then moved up Megan Monesmith. Another asset to the team. She clearly explained the next step of the process. There were just a couple things we needed to send in, that we had not already sent to Julie. We had a few complicated situations that needed some paper trails documented. No problem, she knew what we needed to get and when. Another incredibly patient person. Megan was very good with emailing immediately as well. Once we got to underwriting, I panicked. Megan called me and talked me off the ledge a few times. Happily! We felt like we were dealing with friends. When the final clear to close came through, it was about 6:30 on the evening before we were set to close, Megan called me personally to tell me we were good to go. I am not sure if I was happier or if she was! The whole process made us feel like this was a well oiled machine. We felt like they wanted us to close, not like they were trying to find a reason for us not to. It was just about a month from when we initially contacted them to when we closed on our home. The closing went incredibly smoothly. We could not have asked for an easier process! Thank you RP Funding for helping us to give our boys a home!!! Highly highly recommend!!! Buying a home is a team effort. This is a winning team!
RP Funding is the most unorganized dishonest company I have ever had the displeasure of working with. I was buying a condo in Tampa. I told them UPFRONT that the condo had some ongoing litigation. They told me it would not be an issue on several occasions. They had me pay $350 for an appraisal, $100 to the condo association for a background check, $200 to have form filled out by the condo association. $400 for an inspection. It was a week before closing that I was notified by Ralph Martinez and Elton the Manager. "Apparently the only way we can do this with a litigation is by sending all the documents you have sent us along with a fee of $500.00 to Fannie Mae for them to review. The fee is not refundable either way, and the loan could still be turned down. The process is called a PEW (Project eligibility Waiver). I have asked Elton for his opinion and we all seem to agree that these are almost impossible to get approved from Fannie Mae." I also not have to pay $1650 for rent for another month and $495 for another appraisal. So they cost me $2300 only to be turned away. They should have know about the PEW prior to having me spend a sent with them. By the way I did get financing. 15 Year FIX Rate at ONLY 2.65% with American Momentum Bank NMLS# 1035609. I would never use RP funding again nor would I recommend them to ANYONE EVER!
Never use RP Funding they will lie to you to get business We called RP Funding last week to see if we could save money on monthly payments with our current FHA loan. We were told we could do a Streamline loan and save 200.00 a month with no closing costs and we would get all of our escrow monies back and save a month of mortgage payments since we wouldnt have to pay one month after close SO we decided to the loan. After we got the loan papers to sign I noticed there was $1000 I would have to bring to closing for closing costs PLUS we would only save about 20.00 a month on the mortgage I was told by the loan officer he made a mistake calculating our MIP and gave me some BS story. In order to to do this loan we would have to bring $1000 to closing since you are not allowed to roll in discount points without a survey on an FHA loan which would cost us more money None of this was told to me up front - all they were concerned about was suckering another person in for a loan. I was completely taken aback when I read the loan documents they wanted me sign We were going to refi into a conventional mortgage in a few months with JP Funding after I got my credit rating a little higher but I wont do business with them again I would not recommend using them
I cannot say enough good things about RP Funding. The representatives assigned to my re-fi application were completely professional, supportive, and really took a personal interest in my situation. My application was not the run of the mill loan app. There were several hurdles that we needed to overcome in order to get to the closing table. Not once did RP Funding let me down. They stuck with me all the way and I will always be grateful for the help they provided to me throughout the entire process. Going through the mortgage application process is, at times, like taking on a second job with all the paperwork, documents, tax returns, banks statements, etc. The stress can be overwhelming. Aaron Moore was outstanding in the way he kept me on track and did not quit no matter what. Kevin Lucas stepped in just when it looked like all was lost. He picked up the gauntlet and got us over the goal line. I closed on my loan this morning and I could not be happier with the outcome of the entire experience of dealing with RP Funding. I will always remember this company as world class. I would recommend them to anyone who needs to work with a great team of people for mortgage financing. Thanks again guys Dorothy Maier