Consumer Complaints and Reviews
When we were looking to refinance our house and leave Wells Fargo we included Capital One because we had good experience with our credit cards with them. My first sign that I ignored was that logging into their web portal to enter my info for the mortgage didn't (NEVER EVER) work even after many attempts with their support team. Additionally it locked me out from my credit card information (took the over a year to resolve this).
My biggest frustration is that we were very clear that we were on a bi-weekly payment plan and enjoyed this because we would make an extra payment each year that would go to the principal. The mortgage team dropped the ball and didn't enroll us in this and over a year later they still say that they "try to get" our payment plan straightened out. Meanwhile this week they sent us back a large check saying we had overpaid our escrow account, applied our regular monthly payment to escrow ("because there was not enough money in escrow") and then hit us with a late payment fee because they applied our payment to escrow. WTH!!! 4 frustrating phone calls later and it's still a mess. Stay AWAY from this mortgage company.
Horrible customer service, lack of communication, closing date was pushed back twice and we almost lost the house we bought. Had to pay our car loan off because they didn't add my fiance's income to the loan for whatever reason. Only thing they care about is getting our money. All the other negative reviews are accurate. DO NOT USE THIS COMPANY.
Well just another disappointing experience w/ them again. I called them yesterday, and as Usual they never have any answers regarding my Mortgage and payment's. They are the worst of the worst banks I've ever dealt with. Stay away from them!!! They will fill you up w/ nonsense and confusion. Then they think that they are doing you a favor by just answering the phone and looking at a computer screen which is never updated w/ any new info Re: you or your mortgage.
Capital One sent me a notice that I could refinance at a lower rate with no costs. I completed the application in October and spoke with Cris ** who was going to be my loan officer. I received an email from Mallory ** welcoming me to the process. They ran the credit, I sent in all the required documents, paid for the appraisal and had my employment verified. On November 10, I received the notice that they were getting my home loan finished up and showed all the fees. A loan closing date of November 30 was set. On my first estimate there was no lender loan discount fee and now there was a current $4,444.41 fee. I asked Cris about the change and he said that it was because they thought the appraised value would be higher. It came in at $770,000 and they thought it would be $825,000. I only owe $500,000 so it was less than 80%. Since it still would lower my payment significantly, I agreed.
I kept waiting for them to tell me when my docs would be ready. On November 15, I received via FedEx another closing disclosure showing the final fees and showing my loan was scheduled to close on November 30, 2016. November 22, I called Mallory and asked when my docs would be ready. She said it was still in underwriting and would get back to me. I received no call back so I called her on November 23, and she said she didn't know what was happening. I went on to their online status LoanHub and saw that my loan had been denied for Lack of verification of employment. Our HR department confirmed that they had verified my employment and even showed me the form that they had filled out and sent in. I tried calling Mallory to find out what was going on. I then called Chris my loan officer 3 times... with no call back. I spoke with his partner Charles ** who said their was a glitch in the system as my loan was showing approved.
My rate was 3.65 for 30 years. I then put in calls to Mallory, again to Cris and a call into the manager John. I finally reached John who said he would look into it and asked me to call him back on Dec 1 and 1:41pm. I called and left him a message. I tried calling him again on Dec 2 to no avail. I called a total of 17 times trying to find out what exactly was going on. I finally reached Cris and he said he's really sorry but he doesn't know what is going on and that the underwriters are not giving him any answers. He then went on to say that maybe there was a fraud alert on my file. This is when I lost it and demanded to know exactly what was going on.
Cris said that John (his manager) will look into and call me. I think since the rates have gone up that they don't want to honor their commitment and this was their way out. TO ANY PERSON GETTING A PRE- APPROVAL FOR A NEW HOME... STAY AWAY FROM CAPITAL ONE. You will get strung along until the end and then the rug will get pulled out from under you. Meanwhile, I am going to seek out legal counsel as I really want to know what is going on.
Well, Capital One is at it again. I've been paying my mortgage bill automatically via a bill payment service. Apparently, they raised my monthly payment when they upped my escrow requirement. That's fine...if only they had made certain that I got the news of this increase. I only found about it, you guessed it, when they've sent me my latest bill that included a late charge!!! I guess, to make an even stronger point of how little they care about their customers, it turns out that their customer service is only open from 8 am-8 pm EST. This means that the entire West Coast must either get up extra-early in the morning (and ruin their mood for the whole day) to deal with their highly unhelpful customer agents, or take up their precious work time...Since ALL of Capital One's customer service CLOSES DOWN at 5 pm in the Pacific Time Zone.
It just boggles my mind that our highly corrupt banking regulator still allow banks to get THIS BIG, thereby inspiring exactly the sort of horrible service that anti-monopoly legislation was supposed to thwart in the first place. Absolutely terrible customer experience, clearly with zero interest in even the slightest improvement. I hope more of their potential customers will read my truly sincere review and choose to take their business somewhere else - although thanks to our current corrupt government, our choices are getting slimmer by the minute. I can't say enough to express my dissatisfaction with Capital One. JUST STAY AWAY from them.
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I filled out what I thought was a soft inquiry on a house loan, and I was denied right away and a letter was sent to me with all false information. My husband and I have 725+ credit score, have been qualified for a house already, and have all the requirements to be approved for an FHA loan. I called the number listed on the follow up for being denied (for all fake reasons) and was transferred four times with each person saying that they are not the department that can help me and they don't know who can help me. I asked several times, I need this reversed because I don't need a hard inquiry on my credit with what seems to be an automatic denial with false information, including a FICO score that was over 50 points below than what it actually is! They transferred me back and forth with no additional information and no one to help me!
Incorrect information. Lots of it. Long hold times. Being put thru to the wrong person/department. Disconnect lines. No callbacks. No response to emails. Are you getting the picture?!? This has been going on since April AND I AM ONE OF THEIR CUSTOMERS!! Run, don't walk from this company. Incompetent and they really REALLY don't care!!
I chose Capital One because they give me a very attractive offer. I am a perfect candidate for any mortgages, 1st home buyer and good credit history. We submitted the application with loan officer and passed all the screening and even received the conditional commitment letter. A happy story? No, it’s just the beginning of a nightmare. Two weeks later, the loan got denied, and reason is “DO NOT OFFER TERM REQUESTED”. Our phone calls were not answered, my attorney’s inquiries were not answer, no one can explain what the above words mean? I have no idea what is going on with Capital One, they really screw you up.
Trust me. Stay away from Capital One. Normally I don't like to write the review online. However, I really think I need to let people know how bad it could be. Working with Capital One is a very time-consuming and energy-consuming experience. I wish I had read the reviews here before I chose them. Everything the other reviews said has happened to me too.
I am a person with excellent credit and qualified for any refinancing at any banks. Capital One promised me very well at the beginning it would just take 45 days or less to close the deal. However, now it is 90 days now and it is still not sure. They missed the first closing day at 45 days' deadline and now they are going to miss the 2nd closing day at 90 days' deadline. I am not sure how long it would take now. Every time they requested any doc., I submitted immediately. I don't know how inefficient they could be. Now if I choose to back out, they threatened to charge me $450.00. Absolutely avoid them, especially those at Plano, Texas if you want to save yourself a lot of pain.
The experience that we have had being dragged through the mud by Capital One since mid-July is unparalleled in our experience. The total lack of communication, lack of respect for individuals, and absent customer service is appalling. After weeks of document after document uploads, and the assigned mortgage representative, who was rude and inefficient, abruptly leaving Capital One, the newly assigned representative and her supervisor were no better. We discovered that the terms of our mortgage were changed to include an additional $3000 in charges at closing. When we emailed with questions, we received zero reply from either individual.
It has been well over a week. We want nothing more to do with this company. I plan to withdraw all other accounts from them as well. Hopefully it is just the mortgage side of their business that is so horrendous. I regret not having read reviews on this website before applying to refinance with them. They wasted nearly 2 months of our energy and caused a huge amount of stress. Whatever you do, stay far away from Capital One Mortgage!!!
Stay away from Capital One Mortgage, especially Plano, Texas, mortgage specialist Boyd **. He will threaten you with $450.00, for not following through. They have a lack of communication. You contact for further assistance, and you get the runaround. I try to get my loan status, and you get "We are sorry, but were unable to complete your request at this time. Try again later." You try to complain to the Sr. Vice President office and they fall on deaf ear. Go somewhere else like Lending Tree or Amerisave. The worst customer service are the people from Plano, Texas. This is a refinance that I am doing and Capital One Mortgage can't get their number right. They can't even get the correct payout from my mortgage company, Wells Fargo. Don't trust them, go somewhere else, beware! You have been warned, by this customer, Boyd ** will screw you!
We will be starting legal action against Capital One. We were a seller on a house in which Capital One issued a loan commitment on for FHA. Two days before our closing they told our purchaser they do not qualify for a loan and are a turndown. The borrower never qualified for a loan in the first place in which the Capital One loan officer (I have e-mail from her) that states Capital One messed up. They never looked at any income documentation until they were going for a clear to close in which they saw the borrower does not qualify.
Meanwhile we went through the whole process and moved to South Carolina from NJ once we got the loan commitment since title, appraisal and inspection were completed and approved. At thought point the loan is a done deal unless borrower loses job or passes away. I have now had to pay rent in South Carolina and mortgage in NJ since mid-June because of this mess up from Capital One and we got was a sorry. We had to put house back on market and had to take an offer $40k less to get rid of the house before we go through all our savings.
The house appraised for over $25k since when we bought it in 2013 and now we are taking a major loss because of the incompetence of Capital One. This has caused undue stress for me, my wife and my son who is 2 years old. Mortgage 101 if you see a borrower provide pay stubs that do not even come close on what was stated on the initial pre-approval the loan stops there before you even provide an approval,in which this was never done. This borrower never even qualified for a loan to buy my house. Please do not use Capital One in any form when applying for a mortgage. They are awful.
These guys are not worth your time so do yourself a favor and go somewhere else. They will tell you one thing when you call to get prequalified but later they'll give different terms and rates even if their advertised rates have gone down. They are completely unresponsive via email and seem to only care about driving up the fees and not acting in good faith. They want to get paid regardless the outcome of your loan and will drag the process out. Really, these guys are BAD. Go see your local bank, at least they won't charge you 450 dollars if you change your mind.
They are terrible! I had upfront people Bob ** the licensed mortgage person that at first answers the phone. Hope the person that collects the paper work for the Under-Writers and tells you what they want. Jorge is the supervisor over them. Hope looses work, and doesn't present the Under-Writer with current papers so that they keeping asking for same papers you sent in over and over. Bob is the Licensed one, and he says he will call you back but he won't. Not one time will he call back. Jorge supervisor won't call back. The Under-Writer does whatever easy to fail you - stupid stuff. My guess is they are so crazy busy they don't care that many good income, well documented income people fail. They don't care! Capital One is throwing money away but as their stock is good guess they don't care. Going to another bank. Wasted 3 months. If I was you I would look anywhere else but Capital One Mortgage.
An offer was made on my property on 4/5/16. The buyer is using Capital One Mortgage. They have missed TWO settlement dates and we still don't have one. Even though the buyer had a pre-approval letter, they have twice gone back to get her approved. How in the world does it take them months to settle on mortgage?! Both myself and the buyer have been put under unnecessary financial burdens due to their lack of competence. Warn everyone you know about this company. They should be put out of business.
After receiving a letter in the mail offering me a great refinance rate and cheap closing I contacted them. They were great at first and offered me the best deal I could find after talking to several companies. I provided all of the requested documents and even had to pay $150 for a copy of my property survey which they needed. They hired an appraiser to come out and see my home. Then they suddenly went silent. After a couple of weeks with no call, I emailed my loan processing agent to check the status. I was finally able to get a copy of the appraisal, which appears to have met the required value on which we had made our assumptions when applying.
Two weeks later I finally went on their LoanHub website where you submit documents to find that I had been issued a "denial package". Nowhere was it clear why I would have been denied, as I had already been told that I was approved. I tried to reach three different contacts who I had previously spoken with to request more details about what had happened. All ignored my calls and emails. To this day I have never heard back from Capital One and really am not sure what happened. What I am sure of is that I'm glad that I didn't move forward with the loan. They dropped me like a bad date and didn't even offer an explanation. I have since canceled at least six credit cards which I had with them and refinanced my auto loan with another lender as well. I want nothing to do with them ever again.
I have been trying to refinance for a year now and every time I think I am close I am told they need more info or updated info. In some cases it was info already sent. To me it seems like a bunch of incompetent people handling my life. My house is looming in foreclosure and no one at any of these offices wants to really help me. I believe I have spoken to all, even got thru to a guy named John ** head of the work out division and he told me that they had bad points and problems with the program. And he is just as bad as the rest of the people in Home Mortgage and the work out program and Customer Advocacy and escalations. And yet here I am again having to resend info to idiots.
Bought a new house in Sept 2015, (it was built for me from scratch), got their 15 year ARM. In Jan, got a notice that my escrow account was too low and that they paid over 7K in county taxes. Taxes should be around $2500. Tax authority sent the money back. After days and hours on the phone, they told me that they outsourced the escrow to CoreLogic, who determined that the tax liability was over 7K. The land was part of a bigger piece before the builder bought it, sliced it up and started building houses, hence the discrepancy. But it took months for them to fix it. They gave me a false 2015 1098, messing up my taxes. I told them to issue me a new one, and they said no, the 2016 will show a refund of 7K (making whatever I pay in 2016 not deductible) so it effectively screwed up my income taxes for 2 years.
I asked for a copy of the recordings of our phone conversations, they said no, those are 'privileged.' Customer service is legalistic and hapless from the bottom up, wasted hours of my time, and just kept blaming CoreLogic, but would not provide me with any means to contact CoreLogic. I also asked to be exempt from escrow, as I only owe about $110K on a 300K house (the original loan was for about 150K. They said no because I haven’t had the account for a full year, never mind the 800 credit score, less than 50% LTV, and 100K income… I went with these guys because they were cheap, and it has cost me more time and stress than it saved me in $.
PLEASE DO NOT GO THROUGH CAPITAL ONE MORTGAGE FOR ANYTHING! Do not believe them! I have had to file a complaint with their so-called 'escalation department', which was a joke! Attorney General in North Dakota and the Federal Consumer Finance! In the end we will probably have to pay for what they said we did not. They were amazing in callbacks and customer service at first but when something isn't right or goes awry POOF. They will not return your calls, emails, etc.
Our loan was turned down because it was "not typical to the area" they said. We were fine with it. We are in the process of making the changes to our home and planned on coming back to them. Here in North Dakota we have abstracts instead of titles. Went to get our abstract back so we could have for our add on. The abstract company is holding it because CAPITAL ONE OWES $575 to them (not us, truly, in their name, not ours). Tried to contact them, they said, "NO WAY. SHOULD THERE BE ANY FEES, LET US GET BACK TO YOU". No contact whatsoever, days & weeks have gone by.
I have called several times a day, every number I can find. They dropped us like a bad date! We are completely in shock. We will be canceling our cards and other loan. Been with them for years (credit card and personal loan side). We are done with them. Now we will have to pay the money to get our abstract back. It's crazy! I cannot stress enough that this is not good business behavior. Had I seen this site first WE WOULD NEVER HAD GOTTEN INVOLVED WITH THESE PEOPLE! Loan officer was Timothy ** and team was 7. Just been unbelievable! Just flat out right lied.
Having a 7 year old home fully paid and thinking a home equity loan for less than 20% of the total value was a wise way to purchase a motorhome, my husband and I went to our current bank, Capital One, where we have an auto loan, checking and savings as well as credit cards. The online application was a breeze and we were approved within hours and accepted terms offered.
Our first mistake was to believe the website lie that we were APPROVED. While I totally understood loan documents were needed, I felt they really went overboard but did give them our tax returns and many other documents. At some point we were asked what we planned to do with the money. I clearly stated it was to buy a motorhome and may also pay some debts.
Six weeks later, we move within a week of closing and SUDDENLY I am asked for credit card and auto loan statements and told the underwriter is requiring us to use the home equity money to pay off these debts. This was not a debt reduction loan and Capital One does not get to tell us how to manage our debts. The last thing we want is to take debts we will pay off in 3 years, and have no issue with being able to pay, and turn them into a 20 year mortgage with Capital One. Idiots idiots. To think I wasted 6 weeks of my time.
I was introduced to Cap One with an add for 100,000 points to refi. When I called they said they could not refi in Texas but could do a HOLC at 3.8% for $100K. I said "cool let's do it." I spend a lot of time uploading and signing documents. First they did an electronic appraisal for $771K which qualified me for this HOLC to meet the 80% LTV they wanted. Then they asked for more info which I sent. They went on and then asked for my insurance co. They notified my insurance company of a second loan even before the loan was approved. Finally they said "wait, the appraisal was not correct" so they now need a drive by appraisal. This came back at $688K. No one called me. They just updated the loan hub site with a new higher interest rate. Never seen such behavior. I told the loan officer to reduce the loan amount which he did but then increased the interest rate. In the meantime I kept getting tons of high interest loans from a lot of strange places.
I have been receiving phone calls and letters from organizations claiming to be Capital One, alleging that a credit card account may have been opened fraudulently, using some of my personal information. Even though I respond to these messages, letters keep coming in on Capital One letterhead stationery. I contacted your offices to clear this problem up, but between your representatives demanding the very financial information that leads to identity theft and shifting me around from department to department, Capital One has demonstrated that you do not know how to deal with this problem, nor do you especially care. This apparently won't be a concern to you unless you undergo a repeat of the financial crisis that the financial community started in 2007-08, and you're ready to plead for a bailout.
Before choosing to refinance with Capital One, I read a lot of the bad reviews, but decided to go with them and proceed with caution. In the end, it turned out to be a very good choice. We started the refinance process in mid-November and were fully funded and recorded before Christmas. From start to finish, everything went smoothly. We are already on automatic payment and all is going well. I can only assume that many of the bad reviews are from people who have lower credit scores, don't understand the current mortgage requirements, aren't tech-savvy enough to view and exchange documents, or had some other self inflicted problem. From our initial contact with a loan officer, to the offer, the good faith estimate and the processing by Team 5, my wife and I were totally pleased with the responsiveness and efficiency of Capital One 360. I would definitely use them again.
I made the mistake of working with Capital One to refi my Nevada condo, which they ALREADY have given me the loan for a few years ago. You'd think that since I'm already a "valued" customer (NOT!), and since they already have most of my personal financial info, they would make it easy for me to refi the same property. WRONG!!! The agent I spoke with seemed like a decent guy at first, but at some point he literally disappeared and I couldn't get through to him via email or phone. A month later I logged on to their website, only to learn that they just let my rate lock expire. No notification AT ALL!!!
This, btw, after I submitted ALL their required paperwork, in addition to them putting me through the wringer to get some meaningless sign-off from a condo association of my other property. I tried calling their customer service several times but they were worthless. The only thing they offered is to put me through to the loan dept i.e. the same bunch of idiots who did such a "stellar" job in the first place. All I can say is STAY AWAY! I worked on a bunch of loans and refi's over the years, and can confidently say that this was hands-down THE WORST experience I had.
I have been a Capital One customer for years. I decided to remodel my home and obtained a home mortgage from Capital One to do it. The first 3 years went great, then the trouble began. I relocated for a job and lost my checkbook during the process. I went into a branch location to do the closing of the account, transferring funds, etc. You would think this would be an easy enough task... WRONG!!
The new account was opened and I was told to keep my card - it would be transferable to the new account. It was nearly 2 months later I received a certified letter from Capital One stating the account I was making my payments from could not be found (Capital One could not see Capital One accounts). I went to the branch location where the mistake was made. The branch manager found the problem but did not offer an apology or any assistance on what to do next. The following month, on a three way call with the mortgage department as well as the regular account departments, they still tried to draft payment from a "CLOSED" account.
Here I am now 9 months after finding the problem. I have made repeated calls to what feels like "everyone" at Capital One... my problem still exists. I have filled out countless packets and sent back to ask for assistance in modifying or something... no response. I have spoken all the way up to the President's Office and got no assistance. Now because of being in the rears for 2 months before the mistake was even found, I'm the only one trying to clean up the mess!!! Capital One is going to great lengths NOT to help me. All I have been requesting is to modify the remainder of this loan so it will stop affecting my credit and I WILL NOT LOSE MY HOME in the PROCESS!!
When applying for a home loan, Capital One wasted everyone's time and made me miss my closing date making the home go into foreclosure. They requested EVERYTHING under the sun from me and STILL did not approve me until AFTER my closing date. I was given incorrect alleged required info. No one communicated with me. I believe they did not want my business (maybe based on my last name) and so they wasted as much time as they wanted. They ruined EVERYTHING!!! I paid off my car, I faxed documents after documents immediately after it was requested. It took them months to approve me, whilst other companies approved others way quicker. My credit score is amazing, my DTI weighed in my favor. What else did they want??!!
I even got the manager involved which sped the process along, but it was too late. Their underwriters are incompetent to the max degree. I would NEVER suggest anyone to use this company. I had 3 diff closing dates and they met NONE of the deadlines. Day before my closing date Mike ** said I needed extra funds to bring to closing, I literally was rushing and crying while driving to the ATM to get them the deposit slip and bank statements (they always wanted my bank statements) just to find out that it was not needed! Mike ** and Lacea ** in Plano, TX ruined my livelihood. I cannot express the regret I have for dealing with them. They even went as far as requesting my children's info.
Although I have taken several mortgages and loans and repaid them promptly in the last 15 years, this is the first time I used a 'credit card' company for my mortgage and I suffered. At first, it appeared promising [like most do], but then trouble started. My login to their 'loan hub' took a week to work after several calls, emails. Then uploading documents was not possible for another few days. Later, I started receiving requests for more documents repeatedly, although I had sent them already.
Since I didn't have the luxury of spending hours with them, my wife had to call them several times to point out where to find the document and which emails should be checked to get the documents and then the guy says 'now I see them'. I would have sent over 1000 pages of documents by now. Finally, everyone there went on vacation, leaving to another guy to cover, who also went on vacation! Their underwriter were inexperienced and didn't know much about documents, or they didn't have patience to review my tax returns properly. At one point they mentioned that one of my condo returns in 2013 was showing negative balance.
I pointed that we are in 2016 and they should look at the recent income. He was not ready to listen to me. They informed my realtor about my mortgage being rejected but did not send me any written letter to me. Luckily, I was able to pay the amount for the house myself; otherwise it would have been a big moral and psychological disaster at home. NO MORE CAPITAL ONE MORTGAGE.
Having had an account at the local Capital One for many years, and being very satisfied with the company, when it came time to make a loan to purchase a house, I applied with Capital One. Ladies and gentlemen, these are not the same competent individuals you're used to dealing with at your local bank branch. While most are very courteous and friendly, competency is another issue completely. They screwed up everything from day one, including misspelling my name.
On the day of my closing, their end hadn't been completed yet. To make things worse, my loan officer took the day off. I phoned and emailed his supervisor to see if he could assign someone else to assist me. Closing on that day was imperative since I'd already scheduled movers for the following day. The supervisor never responded, but someone did contact me and handled their end. Even then, their figures were wrong and I had to obtain another certified check before closing could be completed. Do yourself a favor and find another lender, no matter how low their interest rates may be.
My wife and I decided to go with Capital One Mortgage for a refinance of our first and second mortgage, and payoff some debts, after having a really bad experience working with US Bank Mortgage, for the same exact thing. We went with Capital One because we had a bank account and some credit cards with them already, and they were offering a special this quarter of 100,000 miles put onto one of our credit cards after the loan closes. We started working with Zeena ** (Mortgage Loan Officer), who was very nice and explained everything in detail, checked our credit, our income, our debt to income ratio's, and everything else, and said we qualified and then started the process late October 2015. We were setup in their LoanHub online system where you upload documents, where we compiled and uploaded everything they asked for.
Zeena told us we would only need 6 months of assets to show in the bank to close the loan and that their policy for debt to income ratio was at 45% (ours came in at 43%), and she also mentioned that she requested a "waiver" for the assets and would notify us once that was completed. From that point on, we were assigned a Loan Specialist named Erica ** on Team 7, who was to be our interface to providing whatever their underwriters needed and close our loan. Things were good, we were told no issues were flagged, an appraisal was ordered and a closing date was set for late December 2015. The appraisal came in where we expected, once again we were told all good. At this point communication started to become sparse and information exchange became almost nil. Phone calls were never returned, emails would take over a week for a response.
Their LoanHub system kept showing odd messages from Erica stating our loan wasn't approved at the amount requested and that we needed an exorbitant amount of assets required. When we finally did get responses, Erica said she never send us any messages in the LoanHub system and to ignore it. Zeena told us that LoanHub had issues and that we should ignore everything we saw in it, and that she was still pursuing the asset waiver approval. All of our inquiries to Zeena from this point on had no response, we were totally ignored. Erica also reached out to Zeena a few times for the waiver approval update, and even she received no response. At this point it is now the beginning of December, their LoanHub system still showed us closing the week before Christmas, and we were getting no updates or responses from Zeena or Erica.
On December 8, 2015, I checked LoanHub and it said "sorry, your loan is declined due to issues outlined" in the document they attached, which said we were declined because our debt to income ratio was over their limit, and that we could not show enough assets required. When I reached out to Erica for an explanation and to understand why, no response whatsoever. I am sure she and Zeena both knew I was declined before I received that note, but I was not given the professional courtesy of being told by them during my inquiries of where we stood. Of course, being very upset by this I reached out to both Zeena's manager (Steven **) and Erica's manager (Dennis **).
Steven did reply and said we were declined because we were over their debt to income ratio of 42% (remember, we are at 43% and Zeena said their line was 45%), and that we could not show the required 12 months of assets in our bank (Zeena said we only needed 6 months and that she was getting a waiver). Steven said we could move this loan forward if we showed 12 months of assets. I responded back explaining all of the above on December 9, and left him two voice mails and sent two emails, and as of today, December 14, still no response. Bottom line with Capital One, if they would have told us from the beginning we needed 12 months of assets, we could have cashed that out and put it into the bank. If they would have told us we needed to be at 42% instead of under 45% debt to income, we could have paid off some debt to correct that.
To bring a customer this close to closing with all of the expectations to close and with no red flags in sight, and then stop communication for two weeks prior to closing and then just leave us a note in an online system saying we were declined, instead of talking like human beings and giving us the courtesy to correct any issues, is just plain UNPROFESSIONAL!!! DO NOT USE THIS UNPROFESSIONAL COMPANY WITH IT'S UNTRAINED EMPLOYEES. They obviously do not care and are just looking to make money and move on!!! I will never use any of their services or products again, they just lost a lifetime customer, and they probably don't care!! I wish I would have read all of these bad reviews about them before we started the process, it would have saved us a lot of time, headaches, money and having to start all over again with someone else. Do yourself a favor and go with someone else so you do not experience what we did.
Capital One 360 Home Loan. Do not deal with them!!! Let me rephrase it again in case you did not see it the first time. "DO NOT DEAL WITH THEM" If you have started turn back fast. These people are crooks and they are out to get your money. I applied for a refi on my house. Simple case, right? No, not with Capital One 360 Home Loan. I started the process on 07/14/2015 and it ended on 10/07/2015 with the loan not approved and a charge of $450.00 to my credit card. Capital One Home Loan hired a bunch of paper pushers and idiots to work for them. First off, I own a small business and Gross about half a million per year. After 2 months of back and forth they said "no enough income". So that's all good there. I have no complaint.
One of their loan officer called me and said if I can show more income they can still do the loan. I then put my daughter on the loan which is an extra $100K to the income. The man said "that will work", and all he needs is two years of W2 from my daughter, and it will work. At that time they asked me for a credit card to show proof of my identity. I of course put one up. However, the Team 7 paper pushers want more documents which I cannot provide including such small thing as providing a 12 month worth of Amex statement. I told the man that I was issued this card less than a month and the balance is 0 and that I can send in one statement only. He said "that's not going to work, it has to be 12 month".
Anyway, after this they wanted more documents from my business which I do not have. I told them I cannot get them the paper. I provided them my 1040 to show income, but he said "it has to with the balance sheets and everything". Told them from the beginning I do not have those paperwork as I only filed what is required by the law. Anyway to make a long story short, it's documents after documents. After you provided one thing there is another coming and each time it pushes it closer to the closing date.
So My advice to you is that, stay the hell away from these people, unless you have a lot of money to throw away and time is not a problem. By the way my credit score is 700 and my daughter is 795, so you know never late once on my existing loan, so with that in mind. This ** are the worst and scum of the earth. I have been through 2 teams and 4 month dealing with these morons. Very unprofessional dealing. If you see Loan Specialist ** or anyone mentions Capital One home loan stay away. And did I say, my credit score dropped from 700 to 630 after they finished with me?
Capital One Mortgage Company Profile
- Company Name:
- Capital One
- Year Founded:
- 1680 Capital One Drive
- Postal Code:
- United States