DO NOT Refinance with Caliber Home Loans
My current home loan is financed through Caliber Home Loans; not by choice, that's just where the chips fell when I purchased my home.I decided to shop around when it was time to refinance, and included Caliber as one of the options, as they said they could match or beat any other lender's offer.
I decided to go with Caliber after many discussions with a loan officer out of their Irving, Texas location. After agreeing on terms, the loan officer sent me the contract to review and sign. I had a number of questions as there were parts on the contract that didn’t align with what we had discussed and agreed on. So, I sent him an email with my questions and a list of the discrepancies.
He said he would adjust it and send me a new one, but in the meantime I should send him all of my documentation just to save time (I was trying to get the refinance done quickly before interest rates would potentially go up after the Presidential election). I gathered all of my private personal financial information – everything required to refinance a home – and sent it to him. I didn’t hear back for a couple of days, so I emailed him. I got no response.
I emailed and called a number of times after this and still got no response. So, I emailed and called the branch manager at this location (his boss) and never got a response. One could understand my frustration and concern considering I sent them all of my personal financial information (bank account numbers, social security number, etc…) and they pulled my credit; which is excellent by the way and in no way determined what happened next. After trying for weeks with no response from anyone – I even tried reaching out to another loan officer at that location, who said he would have the person I had been working with call me – I sort of gave it a rest.
Then I received a letter in the mail stating that my loan refinance application had been denied, and the reason stated on the letter was “the applicant chose not to go through with the refinance process”. I never chose not to go through with it. I wanted what we agreed on over the phone and asked a lot of questions, but I was fully prepared to refinance with Caliber. I have no idea what they did with my personal financial information and had my credit pulled for nothing.
I am in the process of refinancing with a local broker just so that Caliber no longer carries my current loan. I want absolutely nothing to do with them after the way I was treated and the way things ended.
Do NOT use Caliber Home Loans for a loan or refinance.One VERY unhappy client.
Reason of review: Poor customer service.
Preferred solution: Let the company propose a solution.