April 2022 by Patrick B.
Please Read Before Doing Business with Guild Mortgage Company This company defrauded me the loan officer was a woman named Katherine furley with a heart dark and cold. During the process she kept prolonging the approval process till my option period passed and I couldn't get my earnest money if I backed out of the deal due to unable to obtain financing. She then knowing my predicament started demanding that I put down 20% down payment as a first time home buyer. All the incentives out there for a first time minority home buyer, she never applied to one. Every time I present her with a first time home buyer assistance program she will shut it down with you do not qualify for it. This woman is so wicked. I told her $43,000 was all I had and that I prefer to put down 3% and use the rest of the money to rehab the property and the buy appliances. She kept delaying the approval process till option period passed and then she demanded that I put down 20% of the purchase price (over $80,000) so she can use a conventional loan. I told her that was not possible, and that she should issue the letter of denied financing so I can take it to the seller and see if they will be merciful and refund my earnest money. She total ignored my request and said she will call back later, I spoke with my real estate agent, and the guy was bewildered, saying in 15 years of being an agent he as never seen financing been denied this late into the process ( few days to closing). He then researched this company; public information shows that they have been doing this type of shady lending. Just in 2020 the United States Department of Justice fined them $24.9 million for shady business practices which they admitted to and agreed to pay At this time, my agent advised me that I'll like lose my earnest, option money and all the money I had invested so far (inspection, and more). Katherine furley then called me back the next day saying great news (fake great news) our underwriter has agreed to 10% which is little over $43,000. I reminded her that it'll not work, as I'll be putting everything down and nothing to rehab or buy appliances with because the house was not habitable in its current state. She just ignored my concerns and kept pushing for 10% down payment or the loan will not go through. She then offered to apply for rehab loan after closing, saying that I'll definitely get it because she knows a guy that does it and helped her do hers. Not having much of an option, back out and lose all the money I have invested so far, I took her on her word and put 10% down. After the loan closed, she went ghost on me I emailed and called her no responses, finally another woman named Jennifer called me saying Katherine is in a meeting and doesn't want to speak or continue corresponding if I have any questions about the house I should contact my agent. I said what just happened? What about the rehab loan? The woman Katherine said that is not her concern and that I just take it up with my agent. I do not recommend this company, ignore this warning at your own demise. I opened a bbb complaint on them and I another woman from that office just kept contradicting herself and defensive of their shady business practices and offered no solutions, unfortunately the claim closed without resolve. I spoke to people in the real estate world, they took a look at the deal and how everything went down, and said I can pursue it legally. I'm now gathering everything to go that route since this people doesn't want to resolve this amicably. If anyone is a lawyer and wants to take on this case please reach out to me thank you.
