Nightmare nightmare!!!! RED FLAGS everywhere!!!
We worked with a guy named Jason L In the beginning, we are promised that Cardinal Finacial will honor the quote they gave us. LIES!!!! I had to send them screenshots, copies of all their quotes and promises. Once they saw that I keep all of my documentation and screenshots Jason started in with the name calling.
That was the beginning of the nightmare! Then we started to get alerts from the credit bureau that Cardinal Financial/Sebonic was making excessive hits on our credit(over 10 times). We had only approved one credit check. It was so bad we had to put a freeze on our credit, which cost us money.
I called, emailed and texted to ask why, then Jason disappeared!!!!!! What???? Midway through the loan.... Then a new guy took over our loan, named Conner.
OMG!!!!! incompetence??? Anyhow, this guy would disappear, refused to answer questions and asked us to unlock our credit too!!!! We found hidden fees made up fees.
Jason and Conner Changed the 30-day fixed rate and changed the loan from a 1st home to a second home.Then changed the PMI to almost triple from the original approved PMI. Oh and we were forced to pay up front on an appraisal, which was much higher than what was promised in writing, to top it off it wasn't even the correct home!!!! And they wouldn't show us the results until we begged for weeks! We were promised we would close on or before the 22nd of December of 2017.
Our contract was to expire on the 28th with the seller. For some reason, we couldn't reach Jason or Conner, they wouldn't return or texts/calls/emails throughout most of the last two weeks. As of the 21st of December 2017 they stopped all contact. Come to find out, my realtor looked them up online and found out they were on vacation over the holiday!!!!
And never told us!!! Which was a big issue because we needed to close by the 22nd (which we were promised by Jason) because of the holidays and our deadline. The 28th came by and passed, still nothing! So we finally emailed Conner for a denial letter since they stopped contact with us, and our contract with the seller expired.
Today January 10th 2018 we finally get a response, from Conner telling us that underwriting says "I reviewed the file and the file actually appears to be approved and our closing team was in the process of scheduling the signing. I see a note left on 12/26 that the borrower called in and requested to cancel the loan. Unfortunately, we cannot provide what he is requesting since he is the one who requested the cancellation and the loan was approved by Underwriting." THAT IS ABSOLUTELY LIES!!!!!! We were never able to contact underwriting!!!
and NEVER ASKED TO CANCEL THE LOAN! Conner and Jason not only dropped the ball, but I believe they maliciously tried to hurt our credit and stolen money on a fake appraisal. We lost the house!!! Lost money on the home inspection!
Lost money on the appraisal!
We took excessive credit hits on our credit, because of Cardinal Financial/Sebonic Financial. And now we may be out of our earnest money too!
Product or Service Mentioned: Sebonic Financial Mortgage.
Reason of review: contract not honored .
Monetary Loss: $341300.
Preferred solution: Full refund.
I liked: Rates.
I didn't like: Run around, Runaround to get my mortgage closed, Could not close the transaction, Communication, Unfair fees for rate lock extensions.