November 2021 by Matthew H.
Find a different Loan Officer. My file was given to Karen after I already begun the mortgage process with BofA and that's when the problems started. Here's there TL;DR version of the review. Pros: - Worked with me on a miscommunication on my rate after my file was transferred. - I got a great rate. - We closed. Cons: - Impossible to reach. I called and emailed her nearly 8 times a day a week and a half before closing and she didn't get back to me until 2 days before close. - Terrible Communication. During that period she didn't even respond with an acknowledgement or that she was looking into my file. - Poor attention to detail. Karen did not have some of my most basic information and documents just 3 days before my scheduled close. When she did get back to me she was asking for paystubs, bank statements, and other documents just 3 days before my close. Keep in mind these have been sent numerous times in the weeks and months before. - Poor time management. I did not receive my closing disclosure until the day before of my close. There were so many errors with the document like missing seller credit and missing lender credit. This would have costed me more than $7,000, had I not caught the issue. - Poor Service. While Karen has always been professional and courteous, her attitude at the end when I discovered the problem with the closing disclosures was either close on-time and pay $7K because of their mistake, or extend the closing date so they can fix it. - We closed with literally 15 mins left before the deadline of a Friday before a long weekend after scrambling endlessly to meet my close. Here's the more detailed recount of what transpired 2 weeks before my deadline. With just a week and a half before my close, I have received 0 communication from Karen regarding the status of my close. I called and emailed Karen multiple times (8x) a day with no reply or a simple email response. With only 3 days left, Karen finally emails me asking for my most basic information as if she's never looked at my file before. She asks for pay stubs, bank statements, address verification, and other information -- all of which has been provided months before! At this point, Karen explains how we're going to have to extend a couple more days so she can get the paperwork through. I made it very clear to Karen that my lease was up and my landlord was not giving me an option to extend. With the new closing date, I didn't receive my closing document until the night before close, at which, I discovered numerous errors and issues with the closing disclosure amounting to over $7,000 that I would have to pay. She missed lender credits and seller credits that I was entitled to. Her reaction was, take it or leave it. Meaning, if I wanted to close in time, I would be paying $7,000 more than I would otherwise to close on time or extend my closing date so she can fix her mistakes. The latter option would have left me homeless for 5 days while she figures things out. After getting her manager involved, I had to effectively manage their job myself - dictating what had to happen next, what the correct closing disclosure should add up, who they needed to talk to, and by when they needed to send in their documents to the title company. By a stroke of luck, I managed to close on the house with 15 minutes left before the banks and county closed for a long weekend. The only reason I stuck with her was because of a down payment grant and lender credit program that BofA was offering. Bottomline - Avoid at all cost. Or if you are working with BofA, see if you can find a different loan officer that will pick up their phone.
