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I did a refinance on my house a few years back with Capitol One 360. They have recently decided to get OUT of the Mortgage. My Mortgage payments have always been made early and on time, however, the NEW PENN FINANCIAL company that will now service my loan wants an extra $2.50 a month for me to make my payment online. REALLY! I do the work and they want me to pay them too? Well, needless to say, going forward it will be snail mail on the mortgage payment and I will be doing a balance transfer on the credit card so that I cut ALL TIES with Capitol One! Sad, but had I known this was going to happen I could have looked at another mortgage company before rates went up! PISS ON CAPITOL ONE! Just like they do the consumer!
They suck. Time after time they jacked me into higher rate because of flood insurance requirements. 2 & 1/2 years fighting with these people and In the in end they won. Not because they were right, because they had the power. Horrible company. Would never recommend!
I have a home equity line of credit with Capital One. They have repeatedly applied my additional principal payment to future interest. I have requested several audits and each time, they admit they were wrong, and have adjusted my account, but I could not tell if it was correct. I believe I have paid thousands more than I should have had to pay because of this. Today, I spent another time consuming morning on the phone speaking with their rep. Today is 4/6/18. Their rep stated they applied my additional principal payment to the statement that is due 4/30/18. This is future interest. Today I requested an audit, but the rep stated they do not do that. This is a lie. I have had to write to the President of the Bank in the past to get my account resolved. This does not seem legal to me. Do NOT use Capital One. They will cheat you.
Capital One Bank are crooks. Yes I said thieves. They kicked me out of my home after 38 years due to a illegal refinance in 2007. This whole bank taker over is a bunch of crap. Capital One Bank are nothing but debt collectors. If anyone out there that reads this can give me some info on suing these thieves please let me know. This is all due to a refinance in August 2007. What a joke. They actually got away. Meaning the broker's apex lending with having me sign the loan docs by myself at my house and then they got my separated husband to sign the loan docs in a different county ten days later.
They backdated everything to look like we signed them together. I tried every which way to fight them but Capital One took over Chevy Chase bank and then refused to have anything to say to me at all. I want to get a investigation open on this bank and if there is anyone else who has lost their house please get back with me. I have read other reviews and it does seem like its time to get back what was ours. I am the original homeowner since 1979. For the real deal my x husband could not of qualified for a refinance without me, but yet they stole my home when the judge awarded it to me.
I applied for Modification loan August 23rd 2017 on my Heloc loan with Capital One maturing on October 25th 2017. Received notification Sept. 7th 2017, that my application was received and documentation they needed. All documentation was faxed over Sept. 11, 2017, that was needed. Called at least 2 to 3 times a week checking progress. As October 25th was coming closer I was making calls daily asking if anything else was needed and/or asking for callbacks which I would never receive. Well October 25th passed and now I was unable to make payments on my loan. I started calling daily they would tell me everything good/nothing is needed. I would request call back from a Supervisor with no prevail.
On November 7th 2017 Capital One announces they will be pulling out of the Mortgage Business and will no longer be doing new loans/heloc/or home equity. I called Capital One asking where does that leave me and I was informed I was fine because application was submitted before announcement. I called every day inquiring the status with no prevail again. I noticed that finally I received a letter at the end of November the underwriters received my complete application. What happen where was it 3 months prior. I called daily and at the end of November. I finally received a call back from a Supervisor inquiring that it would be a couple of days and I should hear something if I am approved or not. This was very stressful and upsetting and could do nothing about this. I was at their mercy.
I called daily checking on status and finally on December 15, 2017 a very nice young man called and stated he received permission to call and tell me I was approved for modification for my heloc loan because he knew how upset I was and wanted me to have a good weekend. I am thinking "Thank you Jesus. What a relief". Wrong!!! On December 21st 2017, I received modification package with 2 options. 1. I can do a short sale or 2. start paying $955.00 February 25'th 2018 at 4.99% interest for 20 years. It also stated that the reason I was not eligible for any other assistance was type of loan it was HELOC. PLEASE HAVE DOCUMENTS NOTARIZED AND SENT BACK BY JANUARY 6TH, 2018. I could not believe what I was reading. What sort of modification was that. This was nothing but a trap that Capital One put me in to give no option but to pick a payment of $955.00 with high interest so I would not lose my home.
I was besides myself knowing I was trapped. I could have went elsewhere and just transferred my heloc loan elsewhere or shopped around for a cheaper interest. I filed complaints with CFPB and OCC Treasure department. The OCC transferred my complaint to CFPB because I was told it fell under the Dodd-Frank Act. Well the CFPB sent letter to Capital One and yes they answered without addressing the complaint. They answered all around the situation about wrong date on there papers etc. What a joke and CFPB closed the complaint because Capital One Answered. I called the CFPB and they told me if I wanted I could open another complaint. Is this an conspiracy. CFPB stated if Capital One answered in a proper amount of time that is all they look for then close the case.
I then filed complaints with Capital One executive complaint department. Beginning of January received notification loan has been sold to Rushmore Mortgage and I can contact them after February 1st. Capital One will no longer service the loan. How convenient they were so tired of hearing from me. I would call them would never get call back ask for a specific person would tell me they were out sick etc. I finally got a call back from Sylvania ** with Capital One Executive Complaint Department telling me they investigated the matter it would like to apologize as it looks like I was caught in the mix of people being laid off and moved etc. Are you kidding me? It is called entrapment.
Mrs. ** kept asking what I wanted because the outcome will not change. I told her I wanted Capital One to send me a letter explaining what happen. She told me legal department advised they cannot do that. She said loan was approved in the legal time matter so what does that mean. She meant that when the underwriters finally received the full application at the end of November it was completed in the legal time frame. Well where was it at the 3 months prior?
I also, keep trying to call them to tell them I need a letter stating explicitly what had transpired as I will need this for the IRS in 2019 explaining on why I had to do an hardship early with drawl from my retirement as Capital One misinformed and trapped me to not have a choice and except a Higher interest with permanent payments or a short sale. I was misguided and stuck to sign/and notarize offer they sent me on December 21, 2017 and have it back to them by January 6, 2018.
It looks like there is no help out there for Consumers who actually try and follow rules and do the right thing/no credit problem etc. and Capital One can just get away with this. I keep trying to call Sylvania ** and a lady named Juanita back at Capital One but I am always informed they are not in office/on sick leave/or on another line. Never calls back. Now since my loan is with Rushmore I am told they no longer service and to call Rushmore. My husband is permanently disabled due to a illness and Capital One has put us in a worse situation on top of all medical bills. I could have shopped around and transferred my HELOC loan elsewhere etc. I have every piece of documentation during this whole process. I don't know what order number means but I will put my capital one loan number. I hope capital one dishonest, entrapment business ways will surface one day.
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I've had my mortgage loan with Capital One since September 2015 and I've experienced nothing but setbacks and inconvenience. I just had to file my third complaint with the BBB - again, since 2015! The first complaint was because I could not register for an online account on their website to view my own home loan documents and statements. I called Capital One many times over several months and went to the highest chain of command and no one could figure out how to get me online.
After filing with the BBB I got a call from their corporate office stating it was due the simplest mistake, which was an error in my birthdate. I understand mistakes happen but I what I can't understand is why I had to go to such lengths for them the even find the error. Second complaint: Somehow Capital One was under the assumption that I made a duplicate payment. I, myself, hadn't done anything out of the ordinary. My payment was sent directly to them from my bank just like all the other payments.
However, I never said a word and waited to see if they'd discovered their mistake. They did and corrected it. A few months later, as I was checking my credit, I noticed Capital One had submitted to the credit bureaus that I had skipped a payment. What?? Again there goes another complaint. Third complaint: I live in Houston, TX and my home flooded during Hurricane Harvey. I was contacted by Capital One to see if I needed assistance with my loan payments. I accepted the Forbearance, however I was constantly harassed by them as to whether I'd be able to resume payments in December; so I continued my monthly payments anyway. The representative that set up the Forbearance also asked me for a temporary address to send correspondence since I'd been displaced by the storm, so I gave her my work address. Afterwards I noticed the property address of my loan had been changed to my work address on my mobile and online accounts.
Then I received a letter in the mail regarding my insurance coverage stating my work address 'does not correspond with the address in my loan documents.' Why would Capital One permanently change my address, when they KNEW I'd been displaced by the storm and the address THEY asked for was only temporary??? I went online and changed the address myself, yet it still appears on my account. I even called and spoke with a representative and even she had to admit it was a dumb mistake on their part.
I'm so glad I've recorded most of the conversations I've had with these morons. I also just received an email that my tax statement is ready and it even has my work address listed as the property address. It is sad and shameful that I have to spend so much time and energy to MAKE these idiots correct their mistakes. They should stop paying all these A list celebrities to advertise their high interest credit cards and spend that money instead on educating themselves and training their staff. What a joke.
My experience was a nightmare. My loan officer was Andrew and loan processor Alicesen **. Andrew disappeared half way through my loan Application. Alicesen had no idea what she was doing. She was hard to get a hold of. She messing up in my application and I got denial a week before my closing. After that no one would help me fix it. I went to The Money Store and they got it done in a month. No problem. Capital One need to stick with credit cards only.
My husband tried to refinance our rental property and he was told because it was not our primary residence that he could not refinance that he would have to try for a hardship! We were notified of some documents that was missing from our application and also some papers that wasn’t signed! We took care of all the paperwork and also called to verify that they received the information! We were told that someone from the underwriters department would be in touch with us throughout the process to keep us informed of what was going on! We received 5 to 6 calls from them and the last four we were told that they had everything and they were still working on it! We received a letter in the mail on December 4 stating that we needed to contact someone else for help! When we called the office we were told that the case was closed because we did not submit all the information that was requested by the deadline!
However when we called to verify that the information was received we were told yes it was and not only that, we were never made aware that they were saying they didn’t have all the information until we received the notice in the mail! I spoke to a member of management and she informed me that they had too many cases open and they were trying to close them! I told her my frustration and asked to speak with upper management! She told me that she spoke with Joe and he wanted to talk with someone in the underwriters department to get a better understanding and see if there was anything they could do and he would call me back by mid afternoon on 12/06/2018! My husband has been dealing with this company for many years and this is the way they show their appreciation for his business!
Home Equity loan - This whole experience has been nothing but a nightmare. I've been kept on hold for endless hours for several days. No one returns phone calls or emails. I sent all the necessary paperwork THREE times, and still they say they have not received it! Finally, after speaking to a fast talking rude woman I put an end to dealing with Capital One and their shady business practices. DO NOT deal with these people on any terms!!!
I was shopping around, and I decided to try Capital One. This guy waste my time spend more than an hour with me pull my credit score, then suddenly said I have back to my manager. He never answer back till now. I called a few days after and no one care. That happened like couple month ago now. I got clear to close with KeyBank, they respect me and treat me well. I will end up my credit card with Capital One too. They not deserve my business. This guy called Christofer **. SO BE CAREFUL AND BE AWARE.
First off, I started off by reading a lot of reviews and was uneasy about moving forward with Capital One. After discussing the refi with a few different lenders, Capital One offered $2,000 in travel rewards for the loan since I had my credit card with them. I was in the market for the refi anyway, having just finished my 1600 square foot basement, and a lot of home additions/upgrades, so this seemed like a great deal. I completed all the necessary paperwork, passed the credit check, income requirements etc. I uploaded all the required documents and paid $450 for the appraisal out of my own pocket. I then waited.
After a week I was contacted by the appraiser and set up for him to come to the property 3 days later. He came to the property, said almost nothing, and was gone in 20 minutes. Keep in mind this is a 5,500+ square foot home and I can barely walk through it all in 20 minutes. After he left, I informed Capital One that he was done and to let me know the results as soon as possible, so that we could determine the exact numbers of the refi. This is where everything broke down.
I was told it would be about a week for the appraisal to come back and they would contact me when this was done. Two FULL Weeks later there was still no contact from Capital One. I reached out to them, with no response. Two days later I received an email that LoanHub had my appraisal. I logged in to LoanHub, to see that the appraisal was not accurate and that was severely affecting the loan. I immediately reached out to Capital One, and was told my loan specialist would reach out to me within 24 hours. I STILL HAVE NOT HEARD FROM HIM and it's been 3 weeks. I have emailed, I have called, and was told my loan specialist or the manager would reach out to me. This never happened.
I have now completely given up and realize that I should have listened to ALL of the horrible reviews that people have left. They are amateurs and have no idea what they are doing. Do not be fooled by their offers and "cash rewards" etc. I have since had my house re-appraised with a different company, and we are set to close in 2 weeks. The appraiser used by Capital One is AWFUL and came in nearly $60,000 less than my current appraisal, and nearly $50,000 less than my real estate colleagues said was a good price for the home. They would not accept any type of appeal or help to remedy the situation. AVOID AVOID AVOID.
I started the mortgage process with them in the beginning of June 2017, the process was unbelievably grueling with all the requirements but I was striving thru because I really wanted to build a relationship with them (stupid me) and get my mortgage. Throughout the process I was asked for the same things 2 and 3 times over and over again until I started complaining and asked them what they were doing with my paperwork (losing it). I sent everything email and had a record of everything I sent them the first time. They made me pay all my credit cards off to zero and one of the FHA guidelines was that I install railings on the back of the (house that's not mine yet) which I did.
They had an issue with a donor letter for the gift funds which I was getting to use as my downpayment which at their request I redid to show coming from a friend instead of cousin (yeah you can get donor money from aunt, uncle etc.) (just not a cousin) (and by way they had the original letter in August). We are now talking about it again in October so the big bosses cleared it on October 26 and I get an email from them saying "We are looking to close by the end of the month", I then get a call from the 2 bosses on Friday, on a conference call saying, "We decided that we are denying your loan". No other answers on that the gift funds again are not allowed. They never gave me adequate reasoning and to top it off they never gave me the opportunity to use another DONOR. WHY!!!
They strung me along for months, Waited until the 11th hour to decline me, causing my time to close to EXPIRE!! I have reached out to the top brass in this place and they REFUSE to call me back. Wonder WHY. The WORST experience I have ever had in my life. I am a Senior Manager and run a Car Dealership in Manhattan. NEVER, NEVER NEVER would I EVER treat anyone with the Rudeness and Lack of sensitivity that Capital has treated me with. PLEASE STAY AWAY FROM THEM. THEY DON'T CARE AND their business practices are lousy and unprofessional.
One knows what they're doing. Stringing us out week after week. Loan hub, which Capital One uses is not up to date or current. We have given them everything they asked for, we even have closing docs & now they want more paperwork. The worst experience ever. We had to contact a mgr & she was just as bad. If you can go elsewhere, I would recommend it!
I wish I had read the Consumer Affairs reviews before applying with Capital One. It was a horrific experience and a waste of 5 weeks time and effort. I applied online and was told I could get a HE 50,000 with a 4.2% interest rate. I specifically applied for a HE and not a re-fi. I was told today, 5 weeks after applying that my interest rate would be 6.7 and I would be basically starting over with required documents, etc. Their excuse was that they would be considered 2nd and not first. I told them they knew that from beginning-so I canceled application today. Their Loan Hub is a joke. You upload documents and they say they never got them. Please, Do Not use Capital One for your Re-Fi or HE Loan. You will regret it. I wish I had checked other reviews before applying.
I applied for a loan modification with Capital One Home Mortgage over 4 months ago. I have been getting nothing but the "runaround" from this company. They harass me weekly with phone calls (they do not allow email or fax) requesting more documentation. Every time I send them what they request, they turn around and ask for something else. They requested my tax returns transcript from the IRS, has me fill out and sign an application and ONE MONTH LATER I received a letter from the IRS that my request was rejected because CAPITAL ONE had me complete the wrong form! When I contacted them about it, they did not even say they were sorry for my inconvenience, instead they demanded that I send them the requested tax returns. So I spent an hour faxing 50 pages because of their negligence.
Today they contacted me again because they need a letter of explanation about our tax returns but refused to send me a letter in the mail with details of what they need. Isn't that illegal (I asked them this question and they got very defensive). They are worse than the IRS!!! This is just one example of their incompetence. Stuff like that has been going on for 4 months now. I wonder how long they can keep this up? I am ready to contact the attorney general, FTC, FRB, CFPB and maybe the FCC. Has anyone else had this experience? I smell a class-action here...:-/
Took $500 from me. Refused to give me a home loan. Then refused to give me any copy of any home appraisal. Never did an home appraisal. Take my $500 refuse me service then run. Capital One home loan is a scam. They don't have no money to lend. They are flat broke. They only play games and steal from others. What big thieves. Then offer only $400 returned. The job was not complete. I did not get any home appraisal. I am calling them a crook. I am calling this "a take my money and run." But no worries. I just debited what I got scammed from their credit card and they will not be getting another payment.
I contacted Capital One for a mortgage on a manufactured home. I spoke to Chris ** who told me they could finance this because it was considered a modular home since it was on a permanent foundation. Then I was put in touch with the loan officers Binu and Justin. After 35 days of paperwork (to be expected) credit report and employment verification Mike ** called me at 3 PM Friday before the long Labor Day weekend and said they could not do the loan because it was a manufactured home. Justin called me and said, "Oh Yeah I looked at it on Zillow and you could drive the house away." YEAH, if I owned a train to pull it somewhere. Awful, horrible, uneducated personnel.
They do not even know the product they are selling. Now I am left with 25 days to get a loan, an appraisal and close escrow and the home I am renting was sold so I have to be out of it 10/10. I had to hire a mortgage broker for $3,000 to get me a loan. RUN from this company. I am going to stop using my credit cards with them and have nothing to do with this inept company ever again. I am going to post this all over social media so the consumer is aware of what a dreadful and unprofessional company Capital One is. And really - shame on you for putting me and my family in this situation.
DO NOT GO WITH THIS BANK.
I am not surprised to see such a poor rating. Despite my payments being sent automatically from another bank. They would often delay crediting my account. Would change payment amounts without notice, refuse additional payments to make up a shortage and were very quick to send a negative credit report. I had 2 mortgages with Capital One and will never do business with them again. My original mortgages were not with them to begin with. If I was not with them my credit would be over 800. I have always made payments on time with all of my accounts, Capital One is a disaster when it comes to customer service.
I even had multiple phone calls from a supposed vice president that were threatening and imbecilic. He would not listen to a word from me or make any attempt to find a solution to any problem. And would not tell me what the issue was. He would call on the first of the month for payments that I had till the 15th to make. READ THE OTHER REVIEWS BEFORE YOU EVEN THINK OF USING THIS BANK!!!!
Although I was a 7-year client with Capital One who never missed a mortgage payment, I was treated like anyone off the street for my refinance. My loan processor, Yolanda **, was consistently unresponsive (took more than 72 business hours to return phone calls on TWO occasions), was also negligent; in that at a very crucial time when underwriting needed documents, she went on vacation and did not notify me did not leave ANY such message on her recording stating when she left/for how long she would be gone and MOST importantly she did not leave a designate for my account to follow-up with me in case of an additional questions. For this reason, there was a crucial question on my debt-to-income from underwriting, and because no one informed me, underwriting DECLINED MY LOAN. I had to find this out by calling customer service, since I had not heard from Capital One for over 1 week!
The new loan processor given to me was Lewis **, who was of course very apologetic for the inconvenience of my previous experience but who also did absolutely NOTHING to speed up the loan process although he had SEVERAL opportunities to do so -- he stated on two occasions that essentially it wasn't his problem and it would be against the fair lending act which he either has never read or simply uses as an excuse not work.
Lastly, Lewis went on vacation as well (surprise!) and while at least this time he DID provide a replacement, Nicole **, who was laughably incompetent -- as an example she sent an email verification form to my HR director WITH THE RETURN EMAIL ADDRESS MISSPELLED. He caught it the next day when he got the bounce-back (He forwarded me the email as proof; she wrote: "Please return to either **." Can you spot the mistake which cost yet another day in this process???). She mispronounced my name repeatedly on every phone call, sent the wrong form to HR for verification (should have been current not previous employer) and asked for my tax return documents, which were NOT NEEDED if she had bothered to check with Robert. Also, there was an email sent to my insurance company with STATE FARM misspelled in the subject line. Just sloppy and unprofessional.
All of these small mistakes added hours and days to this process, as well as gave Capital One a very unprofessional and sub-par appearance not only to me, but to everyone involved in this process. What started as what SHOULD HAVE BEEN a very simple refinance from an existing customer turned into a nightmare that took over 90 DAYS to close. And I actually went through the customer advocacy team (VERY misnamed since they couldnt care less) to allow them to take responsibility and make this right but instead they simply stated it's the nature of the industry. No it's the nature of Capital One's horrendous lack of professionalism, customer service and critical thinking overall. STRONGLY advise everyone to take their business elsewhere.
A complete waste of time. I have been a customer of C1 for many years with excellent credit score. After 1 month of sending them all required forms and doc. I was declined on a small 40k home equity line of credit. I tried my local bank and got a mortgage for 130k cash into my personal account to use as I want on the same property. Don't waste your time with C1. I already did and I would not recommend to anyone!
I wasted 1.5 months and who knows how much money working with C1 Home Mortgage. I first went to them over the other leading mortgage companies like Chase, US Bank, and Bank of America, because C1 had a promotion for 100,000 mileage points on my Venture credit card. C1, first off, is a new mortgage player. They aren't established or experienced like the "big 5" banks. C1 also is only stationed in East coast, making phone calls and working in person very difficult, if not impossible, if you are buying a home on the West coast (like I was). They first made me wait 1.5 months for a ** appraisal which is ridiculous. The home is vacant and empty ready to inspect but they took their sweet time. Anyways I waited the 1.5 months... AND THEN when the report finally came back, they said "Sorry we can't finance the home because it doesn't have central heating". Although the home has electric and gas heating, APPARENTLY they require central heating.
This is impossible for anyone to have known this ahead of time of this ridiculous requirement. I called other big banks like Wells Fargo and they just laughed. They said no banks would have such picky standards for central heating... So I was forced to find another lender only after wasting the whole 1.5 months of waiting to be rejected for central heating. Aside from their terrible handling of the situation, they are not professional or knowledgeable. Both my C1 officers that I worked with, Penny and Krystal, are both just so inexperienced and really unintelligent. Despite numerous times reminding them how to spell my name, they STILL get it wrong every time on emails and paperwork.
I would assume when dealing with $100,000+ in money loan, you as a company would want to make sure the papers are accurate. I mean really... A name typo EVERY TIME? It's funny because I never met them since they are on the East coast, but just the way they talk and handle their work I can tell they aren't the smartest of the bunch. Anyways, I really wish I had read the reviews for C1 ahead of time to save me so much money and time. It appears this is a common issue with them. STAY AWAY FROM THEM! I canceled all my C1 accounts and credit card with them. They are just horrible ruining people's home buying experience. You can't go wrong with Chase, BoA, or US Bank, trust me.
I do not recommend Capital One. It's a waiting game. Scary situations. It's the unknown... Uncomfortable, stressful!! Last minute conditions. Escrow may not close in time. Penalties!!! I complied to all of their demands. Not there's additional conditions that could have been handled weeks ago... Back and forth. Same q&a. I'm tired and frustrated. Should have gone with another lender. "My bad."
After banking here for 20 years we will be moving our accounts. We were encouraged to apply for a home equity loan by our banker at the branch, with his manager's support (Lancy ** - DC downtown branch). We told them upfront that our house is unusual and we were concerned about the appraisal. After over a month of processing, the appraisal came back at $200k less than it had been appraised by another bank 9 mos. prior! Less than the tax assessed value! We wrote to ask for help and NOT A SINGLE PERSON responded.
Called customer service (Alex) and was told we could "appeal" by obtaining our own appraisal and providing justification for appeal. It was clear that this was highly unlikely to work out. We received a form denial letter in the mail a week later, STILL without a single call or note from our so-called "banker" or any of the processing team members. This bank wants cookie cutter customers and cookie cutter loans. We are going to a bank that treats customers like people instead of numbers.
I bought a home using Capital One Mortgage. I paid off 20% pretty quickly to remove PMI. I provided a written request and met all the other criteria to have the PMI removed per my contract. Capital One still will not remove the PMI. They are in breach of contract.
They were very deceptive from the start with a refinance loan application. After a brief discussion, I agreed to let the representative pull my credit report. We have approximately $250,000 equity in our property. I was told my husband and I needed a 50% Debt-To-Income ratio, then it was 45%, then finally BELOW 43%. Every time we were presented with something that needed to be explained or proven, we did it. They were presented with extra income that was certifiable and I was told they couldn't use it. We were told we needed to pay off a $38,000 vehicle loan. We agreed. We were told we needed to prove an annuity could support 3 years of $12,000 withdrawals. We proved that. We were told that we needed to prove that a car loan that we co-signed on was not paid from our account. We agreed.
Every hurdle we jumped, they put up another one until they were successful in getting the application declined. They kept changing the requirements until they KNEW it wouldn't get approved. How do you tell a potential customer that they need a 50% DTI, and once the customer is successful getting to that point, they lower it 45%, customer gets it to that, and then finally to BELOW 43%?! Crazy, right? Deceptive, right? Misleading, right?
I would not advise anybody to get a home loan or try to refinance with Capital One. They need to be truthful upfront with customers and not change the requirements during the process just to get a declined result! Listen to the scenario and just tell the customer that is is a greater chance that we won't be able to help you than it is that we will be able to help you. Another unnecessary inquiry on our credit reports because of this misleading and deceptive company!
My husband and I first decided to refinance with Capital One when we received an offer for 100,000 bonus miles to our Venture Card should we choose Capital One to do our refinance. Little did I know, we were embarking on a debacle that would last well over 60 days. What should have been a quick and easy refi for us (like so many times in the past with different lenders), became a nightmare of untimely returned phone calls, missing or disappearing information that had to be faxed (and refaxed) multiple times, agents out of the office, weeks of no progress, the same questions asked over and over that were previously answered and promises of soon to come closing dates that never materialized.
The most frustrating issue for me was that I corresponded with an agent via email and telephone, who would then email/send all the requested information and details of her conversations to the underwriter (1 day process). The underwriter would then email the agent any questions they might have for me or any requests for information he/she was missing (1 day process). The agent would then call or email me those questions and requests from the underwriter (1 day process). If the underwriter had just picked up the phone and called me with the questions, this (now 3 day process) would have ended on day 1. Another frustration occurred when the agent would call me and (heaven forbid) I missed the call. When I would call back, I'd always get a voice recording and have to leave a message that wouldn't be returned until the following 2 - 3 days. (again another 3 day process)
After I voiced my frustration to the agent and her supervisor, neither one of them would return my calls or emails... And to put icing on the cake, Capital One is refusing to give us the 100,000 bonus miles on our Venture Card... I'll never use Capital One Mortgage again and I'll tell my story to anyone I know who's even thinking about getting a loan from Capital One.
On Feb 25, 2017 I got an invitation from Capital Bank to apply for a mortgage loan. I was in the market, so I did. I was assigned to and spoke with a Loan Officer by phone. He answered a wide range of my question and everything seemed okay. At the Loan Officers request, the very next day I completed a full online application and gave consent to credit check for a pre-qualification letter. Everything was said to look fine. There were several other email exchanges between us up until March 2nd. After that he mysteriously disappeared and I never heard back from him again. NO emails, NO return phone calls, NO contact by mail, NO explanation, nothing whatsoever from anybody at the company. It was like the Loan Officer vanished and the it situation never even happened.
I know things come up, but I made an application in good faith and deserve to know something. The whole ordeal was colossal waste of my time and left me feeling mystified, in limbo and wondering, what happened??? To this day I still don't know. Bottom line: If you value your time, beware, this company seems to have a huge communication problem.
Stay away. I should have gone with the reviews on here. Capital One will let you load your documents online. They say 2/3 weeks to get everything done. Sounds great. Unfortunately, after a week and I contact them, I find out (after a 2 day response time to the email) that the documents didn't load correctly, with their app by the way. So I do it all over again. After another week they want a verification of mortgage that the mortgage company didn't send. So 2 1/2 weeks later, I send the mortgage company the information they requested to release the VOM. Still 2/3 day response time from Capital One. They never received it, so they say. I sit on the phone while the mortgage company faxes it only to find out it is the exact document that they had sent Capital One the week before. I'm very confused at this point. Turns out they want 12 months of verification. Which makes no sense because that is literally my payment history and in my credit report.
So here I am on the very last day of my 30 days not getting my loan. I have let them know how I feel so I doubt they will ever contact me again. In the meantime all my household repairs have to wait, including my AC. I have been extremely stressed the last two weeks of this ridiculous ordeal. If I could give them zero stars I would. Yes you can call, but after a while they stop answering the phone. Go with another company. We will try again in a few months, since the credit takes a hit because of this crap. I can't express the frustration and anger. BAD customer service. Horrible response time.
We had a terrible experience refinancing a small mortgage loan through Capital One. It appears the people who work for Capital One, who actually help you process your loan, have no idea what their technology looks like to the customers who use it, so there's this constant dissonance between the customer and the bank. Even simple things like asking you to upload documents, and then they don't see them/can't find them. They do not operate like a top rate bank. The closing was horribly mismanaged to the point where they had to give us a credit because it was so awful.
First, they wired the loan money to the wrong lawyer, didn't tell their lawyer who was waiting for the money and then had the nerve to ask their lawyer (and us) to wait for the first lawyer to "send the money back." This is not a big loan, and Too Big To Fail bank like Capital One should have sent the money to the lawyer working with us and trusted that its own lawyer would send the money back rather than make us wait and ultimately reschedule the closing. Second, despite repeatedly correcting the information on their forms, they kept producing forms with the wrong information and claimed they "couldn't change it." We're talking basic information.
There's more, but the final straw causing me to go public on this is that I just tried to pay our first installment and of course the payment system does not work. I called tech support and he admitted the problem is on their end. What isn't a problem on their end? These issues should not affect the servicing of the loan going forward but getting to this place is extremely frustrating. Please avoid Capital One.
Capital One Mortgage Company Information
- Company Name:
- Capital One
- Year Founded:
- 1680 Capital One Drive
- Postal Code:
- United States
- (800) 227-4825