About Capital One Mortgage
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Horrible, horrible service. STAY AWAY... don't deliver that's promised. Change play midway... been a ING grandfathered customer. Always on time payments. Had a rate renew with them. After multiple phone calls and more waiting time of over 3 months. I am still dealing with them. Seems like their research is still not done. In the meantime rates change and I can't lock. The last call the lady wouldn't even give me the int rates. Rude service... always on hold and always investigating.
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.
Capital One Mortgage Company Information
- Company Name:
- Capital One
- Year Founded:
- 1680 Capital One Drive
- Postal Code:
- United States
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