Citizens Bank - Worst first time mortgage experience ever!!!
This review is specific for the mortgage department of Citizens bank in Birmingham, MI, not the bankers.
I worked with Jennifer Yono on obtaining a home loan to purchase a home. I spent hours organizing my info and sending it over, along with many phone calls to make sure all checked out and I was ready.
I own a small business in Royal Oak with a modest income and was more than ready to purchase a home financially.
She reviewed my information and called me back the same day with a modest loan amount for $76,500. I felt that was very workable and happy to get started. She send me my pre-approval letter. So I contact my realtor to get started eager and excited!
My realtor contacts Jennifer as well to make sure we are all set, she says 'yes they are good to go'.
We (my partner and I) find a house we love, put in an offer, the seller accepts, we sign a contract. Yeah!! The sellers realtors contacts Jennifer before accepting the offer to make sure we are legit. Jennifer say 'yes they are good to go'. So we're off and planning!! The inspector is lined up for a few days out, so I call Jennifer and ask her when the appraisal is done.
She informs me after the inspection and also tells me the appraisal has gone up $30 since we last spoke, which was yesterday. I say 'o.k, that's weird, but not a deal breaker at all'!
Here's where our dreams were smashed like a grape!! She then tells me underwriting was being VERY conservative and wouldn't loan us more than $61,000. I say 'what???".
Then she says 'well it looks like they don't want to go over $60,000.' Which is it?! 60,000 or 61,000? Isn't this information that you should have gotten upfront before contacting us?
My realtor calls Jennifer Yone and says this needs to get straightened out!! There is a contract signed! Jennifer says I will make it my priority to figure this out.
I receive a call shortly after now telling me my entire loan was tossed out like trash. Now I'm high risk owning a small business and they will not offer me a loan. My mouth drops and I am furious!!! I ask her how this could happen and how completely unprofessional this is!? She lets out a nervous giggle and tells me she's only been at Citizens bank for a month and is new to mortgages. What!!!!! Citizens allowed a new incompetent person to handle a small business loan!?
I tried to contact her manager about 10 times over two days and he has not yet called me back. No surprise there! The damage is done!
Jennifer Yono has completely crushed our hopes and dreams of buying a home!!!
eve.s wrote the review because of bad quality at Citizens Bank. Reviewer claimed that he or she lost $76500 and wants Citizens Bank to offer any options to resolve the issue.
The most disappointing in user's experience was first time experience with a mortgage lender. Author liked the most i have no problems banking with citizens. The author asks this business to immediately contact him/ her to briefly discuss his/ her negative experience with the company.