Consumer Complaints and Reviews
It is absolutely poor conducting of business. No ethics at all. We were supposed to be close on 23rd June, got extended to 29th June and then to July 10th. Finally on July 12th, we get a confirmation that the loan is declined. I lost All my earnest money and the cost for inspection and the appraisal. Nothing was delivered to us on time. This location of Office is in Frisco. Al ** and his manager Michael **, wouldn't respond to our calls (Sellers, Buyers, Agents) on the day we were supposed to close. It is very stressful situation. I wouldn't want anyone to go through this ordeal. Finally we lost the house that we wanted, and also lost the earnest money in the process. My friends and family already are aware not to do business with this company. I would advise if you want to close a house and not lose everything in the process, don't go with them. Any follow up would take a minimum of 10 calls for them to respond to us.
Do NOT use this company no matter what you do. We spoke with Shayne ** and he made us and our realtor multiple promises about getting me approved. Sent her the paperwork and everything and then when it came down to closing all he told us and the realtor was LIES!! Then when I called him out on it he says and I quote "I have been very patient with y'all but it's just not going to work out between us." REALLY cause the whole time you lied and made promises you couldn't keep!!! So not professional. Save yourself, time and heartache!! Think he got mad cause we had to contact him on a Saturday. It's ok, I will take my money elsewhere!!
Do not make the mistake that my husband and I made to go with Eric and Gabriel (Gabe) at Gateway Mortgage Group in Maitland, FL to be your loan originators. To begin, let me say that Gabriel is Eric’s assistant and does absolutely everything for Eric. I only spoke with Eric once during this process. He emailed me about my credit situation. I never heard a response from him after that so we dealt with Gabriel during our pre-approval process. My husband and I submitted our loan application on February 27th. A lot happened shortly after that with Gabriel saying that he could not pre-approve us due to my lack of credit and credit lines.
We went back and forth with Gabriel from February 27th until April 28th with having them look into all other possibilities (like having someone co-sign on the loan). During this time, Gabriel went back and forth with telling us that he was 100% confident that he could pre-approve us and then the next day saying that unfortunately, he could not pre-approve us. This entire process took an extremely long due time due to Eric and Gabriel’s lackadaisical attitude towards doing their job in a timely manner. Every time that I reached out to Gabriel via phone call or email, it would take him at least 8 days to respond to me. He would always say “I will call you tomorrow” or “I will email you back tomorrow with an update”, and he would never do that. He would give some excuse as to why it took him so long to respond about half the time but we know that it boils down to that he just does not have a passion and drive to help his clients like he should.
Finally, on May 4th, Gabriel called me and said that we were officially pre-approved. He said that we could begin to look at houses and that he would send the pre-qualification letter to us and our realtor. My husband and I immediately began to seriously consider some houses and we had our realtor set up some showings for us. We fell in love with a few houses and put an offer in on some houses. Gabriel told me that we would need to meet with Eric to discuss the difference between a FHA and conventional mortgage. Out of nowhere, Gabriel emailed me on May 12th and said that there was a problem with an unknown loan on my husband’s credit report. I immediately responded to his email about both situations – the meeting with Eric and the unknown loan. He never responded to my emails and phone calls about both situations until May 30th.
Most recently, we put an offer in on a house May 27th. We were over the moon excited because it fit all of our criteria. Our realtor even worked while he was on vacation to get the offer paperwork ready and submit the offer for us. Shortly after this, our realtor started asking us about our pre-qualification letter and if we had it. I told him that we did not have it as Eric and Gabriel did not send it to us yet. I immediately started calling and emailing Gabriel to have him send us the pre-qualification letter. Gabriel emailed me back on May 30th and said that he would have the pre-qualification letter to us that day. Spoiler Alert: Gabriel never sent us the pre-qualification letter. Period. I tried to remain hopeful but I knew that the seller’s realtor was not going to wait around for our pre-qualification letter. I knew that they would accept another offer from a buyer who had all of their paperwork together.
After repeatedly emailing and calling Gabriel to leave desperate messages for him, the house finally sold on May 31st – and it was not to us. My worst fear, of having it sold to someone else due to our lack of completed paperwork – became true. This is the event that finally helped me to make the decision to wave my white flag and start looking for another mortgage company. I am now looking for a mortgage company that will be there for me at all times and who will be prompt in getting things done.
Throughout the entire process from February 27th to May 31st, I had to continually remind Gabriel to do his job. I am writing this on June 1st and I still do not have the pre-qualification letter from him. I had to threaten him that we were going to switch to a different company to get him to respond to me. I had to beg him and plead with him to continue working on our paperwork. Whenever I would talk with him over the phone, he would always joke around with me and use curse words. He does not have a professional attitude or outlook towards his job. Please do not waste your time, energy, and mental health on these two men – Eric and Gabriel. It is just not worth it.
Working with them for refinance for 3 weeks. They asked for all documents, they keep saying everything go as plan. They ask for appraisal, HOA pay in full. I did all they ask and 5 days before closing they sent me letter say I am not approved??? And my credit score is 800, high income and they say they can not approved? Call them twice, did not answer or call back, sound familiar? Do not use them or you will regret with stressful situation.
Gateway Mortgage in Hammond, Louisiana office of Pat ** has put the whole act of sale for three families in the worse situation I have ever seen, when trying to close on a home by closing date. We going on our 3rd extension because she is deliberately acting like a 3 year old. She will not return emails or phone calls from the customer, real estate agent, and closing company for the other two families. After getting annoyed with the people involved, because she would not answer the phone to give simple updates on the status, she got mad and said, "I'll send the paper when I'm ready"! That attitude is costing everyone involved a lot of money that could have been avoided, hence her deliberate attitude!! In a case like this, with this being able to close the deal, the lender should have their fees deducted and any cost that the homeowners are accumulating from her deliberate behavior, deducted from her personal profits off the deal.
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I have never had such a bad experience with a mortgage company ever. After being APPROVED by their underwriting department, Gateway Mortgage calling our insurance office and advising them to add Gateway to our homeowner's policy and having us paying for an appraisal order by them. We were told that they could not fund the loan (not going into details) BUT it should have been caught by their underwriting department. The Mansfield, Ohio location refuses to refund the appraisal fee and we now have to wait 4 month. This company has NO clue how to advise customers in the refinancing department or assist in anyway!!!!
Me and my wife are first time home buyers and contacted Gateway Mortgage on the advice of our real estate. We worked with Raegan ** and she held our hands through the entire process. Any questions we asked were answered and she went above and beyond to help. Would recommend Raegan and Gateway to anyone in the home buying process.
Day is 01/28/17. I was trying to get a pre-approval letter to go home shopping, and I told James **, from Gateway Mortgage that I didn't want my credit pulled, because I will send him a credit report that was already pulled, because my credit was below 640, and he said it was fine, but for him to get him going I had to go thru the application process, so he can have a commitment from me, so he wouldn't waste his time either, I said fine. So, I went to the website, and filled up the app, the next day, to my surprise, he pulled my credit, and they had the audacity to tell me by email, that on 01/31/17, the company will no longer honor any credit score under 640, unless they have an accepted signed contract. How in the world will I get that done in 3 days? He didn't have the guts to tell me that from the beginning. Now my credit is lower. This is just to get people in and then ** them up. Beware of the company. Is a scam.
My wife and first stepped foot into a gateway mortgage office in Killeen TX, about 2 years ago. We sat down with Deborah ** and she explained to us why we just didn't quite qualify at that point to be able to get a mortgage at that time. She also told us areas we need to work on and ways to get ourselves to the point of being able to buy our first house. We walked back into her office 9 months ago after doing everything she had told us to do. SURPRISE!!! We qualified. Not just for any home, she sent us to talk to a realtor who works with a home builder. We not only qualified for a home but we ourselves into the home of our dreams after years of trying and failing. The staff at Gateway explained the credit process and the do's and dont's of it so we were able to achieve our goal and finally own our own home. Thanks Gateway Mortgage.
The worst experience ever, very unprofessional! Do not do business with them! Started the process in the end of Sept. Was pressured to do an appraisal for $800 because they couldn't find anyone to do it sooner and we needed to meet deadlines or else according to the person handling my file I would be penalized. Then I didn't receive any calls or emails. So I call and someone else was handling my file. His name is David ** and he is suppose to be the manager. On one occasion he spoke to me very rude. He never answers the phone, returns calls nor emails. We are now at the end of Dec and still we never closed on our loan. Stay away from this company.
Choosing this company for a home mortgage was a horrible experience. After running my credit (which I have excellent) and submitting all personal documents (social security, driver's license, bank statements, taxes documents and pay stubs) these two above subjects sent my an pre-approval letter with a $125,000 limit. Two weeks later they sent to my realtor another pre-approval letter with a $175,000 limit.
Two weeks later they told another real estate agent that I don't qualify for a mortgage. They said I never sent documentation and that all the pre-approval letters were based on verbal information I gave them. They lied. I sent all the documentation they requested on time by email. I spent my time and my broker's time scheduling and visiting prospects homes several weeks. And suddenly they just come up with these findings that I do not qualify for a mortgage.
Both Gabriel Gabe ** and Eric ** are not professional, they do not answer calls, they do not return calls and they are not organized in their work. They lack professionalism and customer service skills. They are not honest with people that are trying to fulfill the American dream. They seem to like the easy commissions and focus more in easy prospects.
I do not recommend this company, neither these two subjects. Remember their names: Gabriel ** alias Gabe and Eric **. Choose another mortgage company. You do not want to go through all the hassle of poor quality service and then be denied. BEWARE OF THESE PEOPLE!!! IF YOU CHOOSE THEM, YOU WILL REGRET IT.
I was contacted by Gateway Mortgage for refinancing of home. The loan originator was **, Gateway Mortgage Group LLC 3011 Internet Blvd. Suite 108, Frisco, TX 75034. After docusigning online forms, he did not lock my rate. When I sent email asking for loan processing status he sent me new rates which where higher than agreed. I contacted his manager ** 3011 Internet Blvd. Suite 108 Frisco, Texas 75034 to resolve the issue. He worse than loan originator. I cancelled refinancing, got withdrawal letter. Preceding week in my online account I see a transaction for my appraisal for $425. I am receiving it when I closed all the loan processing with Gateway Mortgage. Please don't share your bank account details to them.
When I first heard about Gateway I was happy they had a office by my city. I contacted them and a girl named Amber ** started helping me on getting a fha loan. I told her about me not having any credit score but I did find out though fha there was a loan type for me. She said "you are right." I did everything this girl asked me to do on down to keeping a amount of money in my account to making sure she knew every dollar I had in saving. Took a few months of me getting off from work to get paperwork even my days off... At first everything went great. The last time I saw her at her office me and my family were there with her. She said right in front of us... "Everything looks great. All you all need to do is look for a house." I said ok so we got the loan. She said "Yes. I am going to touch base with your Realtor agent and tell him what amount of a home you get so he can set up homes you can look at..." GREAT RIGHT. WRONG.
We looked at a few. She would call him and me ask how things were going and then we found one... I told her we found one and the price was about 10,000 over but I would just pay that cash... She said that a 90,000 dollar home with a 3% downpayment plus closing costs and fees would run me almost 30,000 dollars. It didn't add up to what she told me at first... Do the math guys... Really, so then I found one that was in the range and need to be said "Yes, I have enough to put down." 20% down on a 90,000 dollar home. But after texting her I said I found she replied "Great. Where is it at and how much", I told her... then she texted back asking me what is the address. I told her... then she calls me telling me and get this...
5 mos. later all my days off dealing with her and looking for one. Kids excited about getting a home that she said we were getting... To "I AM SORRY TO TELL you we can't finance the 90,000." I said "ok, then 80,000," she said... "NO. NOT THAT EITHER. WE CAN'T FINANCE YOU AT ALL, BUT I CAN HELP YOU FIND SOMEONE ELSE THAT CAN..." My real estate agent said he would never recommend her or the company for that matter... Amber ** with Gateway is a liar and anybody with a company who starts out lying like that has to be a piss poor company... I told my bank what happened... They are now watching my money not by my choice but my bank's...
Gateway is by far the greatest mortgage company there is. I am a realtor and I work with several mortgage companies. This is the best there is. Closing, refinancing, customer service. I have had several experiences with several mortgage companies that will foreclose in the middle of a sale. Not Gateway. They will continue by your side the whole challenging experience. Their rates are usually the best also. They do not sell their loans. I can continue and continue but there is not a mortgage company as good as Gateway.
Our experience with purchase and closing was fine. It has been the last 4+ years as things have come up and I needed to call customer service that I have learned how terrible this company is with handling their customers. First, if you can get customer service that is half the battle. They have a recording that tells you they are in a meeting, and they have a lot of meetings. Second, once you find the right department or person to speak with, they NEVER answer. They also NEVER call you back when you leave a voicemail. So one might think, email might be a great form of communicating with these Gateway people since they are so busy on the phone with other customers or in all those meetings, NO. They will also NEVER email you back. SO if you are looking for a lender, look elsewhere and if you too are a Gateway customer like myself... I'm sorry.
Gateway Mortgage Group Overpaid (double paid) my county taxes in December 2015. My escrow account was subsequently reconciled and I now owe a significantly increased amount monthly payment. I contacted Gateway about the error (when I noted a [Very] significant increase in monthly payment). So for last months payment I made the regular payment over the phone. There was an issue because my payment was around $400 or so less than normal (because of the county tax overpayment), so over the phone I was told that the matter will be resolved.
Anyway today when I called Gateway to pay the next monthly mortgage payment, and I discovered I was over $400.00 in arrears due to the revised escrow account balance!!! I had to increase my payment substantially in order to avoid a negative report to the credit agencies. In my humble opinion when a mortgage company creates an error which has an adverse impact on their customer they should do everything in their power to make right the wrong. What really, really gripes me is I thought this matter was resolved last month when I emailed in the overage to Gateway. They are very aware they double paid my taxes.
Last month when I called I stood my ground and stated I'm only going to pay my regular payment. They accepted that. Meanwhile I had to receive frequent phone calls from the harpies from Gateway and I had to state, "ok please look at the notes attached to my account" and it seemed to resolve the issue. So today when I called Gateway to make the next months payment, apparently the matter has not been resolve and I had to fold like an origami swan and I had to up my payment by the past due amount of around $500. I am confident that last months payment will now show as paid. When making my payment today over the phone (yes they waived the $10 fee again) it seems that the representatives are unaware of the consequences of errors induced by their mortgage company. For example in my case I had to request an extension on filing with the IRS.
Additionally my home is in the process of being sold and I do not have a new address at this moment. The company apparently does not have an EIRT (emergent issue response team) which can be activated for my particular situation. In my opinion this is not normal for an established organization (like Gateway Mortgage), like very not normal to have no recourse for the customer in odd situations like mine. I wish the CEO could see the impacts I am dealing with and come up with procedures to deal with this. In my case my family probably has to vacate our home in 3 weeks or so (we are selling our place and moving to GA or SC. I really need every dollar I can come up with at this point!!!). I am going to have significant moving expenses. I do not need to be paying overages in my escrow account due to no fault of my own.
I believe this to be wrong and should be righted. At this moment I cannot fathom how Gateway can send me a 1098 in time while I still have a physical address. I have also learned that when Gateway states that they will send a confirmatory email (per my request), they most often times do not send the email? Where I come from if you tell me your gonna do something you do it! If you're not gonna do it then tell me. No bull, that's how a successful company works (am I missing something here?). This is a classic example of a company that does not have within its infrastructure the ability to make right what is wrong in a timely matter. Oddly enough I would still recommend Gateway as a mortgage company.
I have been with Gateway for 5 years. My house payment just jumped almost $900 per month because they failed to pay taxes. They claimed to have messed up and mailed us a check for $3700.00 in June of last year. They laughed and said, "Well if you wouldn't cashed the check you wouldn't be in this situation." After investigating we never even received the overpayment of Escrow from the previous year. They lowered our payment $300 per month in 2015. Now because we didn't pay enough in 2015 my payment is now $1900 per month without warning. Can you imagine the impact. Please do not use this company. They see the value of my home and I feel they are doing everything they can to foreclose on us.
I re-financed my house with this company about eight years ago. The nightmare started the first month I had a payment due. I set up auto draft and they took the first payment at the beginning of October. Another payment came out and showed up on my bank statement in November. On January 1 I received a phone call saying I missed my December payment. When I explained that wasn't possible because it was on auto draft the customer service person told me it had been removed from Auto Draft in November because they accidentally ran it twice in October, once at the beginning of the month and the other at the end of the month. I told him to run the December and January payments that day. In February I received a notice that I did not pay my January payment. According to Gateway the payment was denied. According to my bank there was never a time when there were not enough funds available.
My bank recommended that in the future I send a cashier's check and send it certified with a signature upon receipt. I did this every month for eight years. There have been several times when I received phone calls saying my payment was not received. I pull out the signature card and fax it to them. A few months ago I was really tired of standing in line at the post office so I decided to make my payment online. There was no problem for three months, and then today I received a call saying they did not get my payment. First they said the funds were not available, and when I proved that the funds were indeed available they changed their story to me giving them an incorrect checking account number. Now they want me to pay a late fee.
The other issues with this company are that they sometimes do not pay my insurance and taxes and they almost always short my taxes. I have learned to call State Farm every year and go to the county to pay whatever taxes were not paid by Gateway. It is usually less than $20.00. I would not recommend this company to anyone.
I called Gateway mortgage and asked for two things. 1. Please move my payments from bi-weekly to twice monthly. 2. Please stop taking my payments automatically from my bank account and instead send me paper bills. The contract temporary person I spoke with seemed quite confused and I had to repeat my requests three or four times before she repeated it back to me correctly. I asked for an email confirmation of the arrangement we just made. She said she would send one as soon as the system updated the changes. I waited several hours. No email. I called a second time and asked about the email. The person I spoke with said she would send it out immediately. I received the email.
I called a third time to ask when I should expect the bill for the first half of the payment that would be due on February 1 (today is January 22). That person said she would send me a copy of the statement via email. She did. The mortgage statement I received showed the entire monthly amount due with a due date of February 1. I called a fourth time and asked why the statement I received showed the entire amount and the February 1 due date when Gateway had agreed to splitting the payment into two payments and two due dates. The person's response was "we only bill once a month--you cannot receive two bills". So much for customer service.
I am very concerned that if I follow the agreement we made and only send 1/2 of the amount due on or before February 1 and the remaining 1/2 on or before February 15 that I will show up as not having paid my mortgage on time. It seems pretty logical to me that if 1/2 is due on February 1 I would get a bill for that 1/2, and the same for the payment for the second half of the month. When you call in and get placed on hold, the recorded message talks about how Gateway values the same things I do--and a bunch of other junk.
Updated on 04/13/2016: I was told last month that the fee would be waived. This month my statement shows a $25.00 fee instead of the previous amount of $50. Gateway has removed 1/2. Over the life of my loan Gateway will make thousands of dollars in interest. It is just wrong to stick their hand in my pocket for an additional $50 or $25. Their customer service leaves a GREAT DEAL to be desired. The automatic voice when I call in says something about making me a customer for life. If I could find another mortgage holder at the same or a lower rate of interest and not have the thousands of dollars in closing costs I would abandon Gateway in a heartbeat. For now at least I am stuck with them and resentful of the several phone calls and endless bureaucracy in dealing with them.
We refinanced our house and was contacted by many lenders. Jennifer ** with Gateway Mortgage in Frisco Texas reached out to me. She was VERY professional and helpful. Jennifer was one of the few that would answer my questions PRIOR to pulling hard credit. I had a very good ballpark and realized Gateway had the best solution. We proceeded forward with Jennifer and Gateway and it is the Best Experience with any mortgage company we have done. They closed on time, followed up on everything we asked about and stayed within the closing estimates. I would recommend to anyone!
Recommendation... consider other mortgage companies before doing business with Gateway Mortgage Group! What began as an excellent experience ended very badly. I decided to do business with Gateway Mortgage Group because of the excellent interest rate offered on a VA refinance loan. The Loan Officer, **(Frisco, Texas Office), was very professional, pleasant and responsive. The week prior to closing, ** needed to be out of the office and turned the account over to her manager, **, to complete the final phase of the process. In my opinion, ** has no concept of customer service. He lacked knowledge about my specific loan, did everything he could to obstruct the process and was verbally rude.
I wrote a letter to the CEO and President of Gateway Mortgage Group, providing feedback on the problems I experienced. Subsequently, I received a letter from a Regional Vice President apologizing for my frustration with the loan process and **. The Bottom line is... exercise due diligence before doing business with Gateway Mortgage Group.
There have been a couple of instances of problems with this company. First, making a payment online and it being stuck in their system after they upgrade it and still charging me a late fee. The main issue is, I refinanced my home a couple of years ago and problems started then. The current issue is not paying my property taxes to the county in the year it was paid. Needless to say, I just found out that they had not been paid and instead of a refund I will have to pay this year when I file my income taxes because it was not reported. I called today and spoke to Lindsay which said they paid the bill on 02/05 which is after the 1/31/2015 deadline which now there is additional interest tacked on that they want to make me pay. It has been a nightmare dealing with this company.
I wanted to re-fi with Gateway Mortgage, Wilmington, NC. My contact was Jake (John) **. On 1-15-15, he agreed to pay all the closing costs and an interest rate of 4.00. Bank rate was 3.81 and went down to 3.91 on 1-16-5; Gateway online was 3.50%. We did an application on 1-16-15. He said he would call me back @ 10:30 a.m. Never called and never answered my calls. Sent me a Transaction Summary Worksheet @ 11:15. a.m., but didn't call me to tell me it was sent. That fax said 4.00 int. rate w/ closing costs of $156.70 handwritten note by him. I faxed it back. Had agreed to pay for appraisal. When I called him to tell him I had faxed it back, he said he had to check rates; rates had increased to over 4.00 and needed to be 4 1/8%. This was unacceptable to me, so I emailed them to cancel me on 1-17-15.
Need a mortgage company that can get your loan closed and not oversell you? Go with Gateway. I refer all my clients to Brenda ** every time they need a mortgage company. Not only is Gateway honest, but they are fair and competitive. They are simply the BEST!
Please do not use this company. It is bad when you call in with a technical question about why the website isn't working and they reply, "yes, we all know the website is messed up. They are working on it." Things were exactly the same several months later. I had autopsy set up and one month it just dropped off for no reason. Had to call and go through hassle of getting it set back up. Don't expect ANY online conveniences. I had several other issues with removal of PMI and other issues. Just don't....really.
This company is impossible to contact. You cannot e-mail them and they never answer the phone. I have tried for a week and a half, calling at multiple times throughout the day and can never get a hold of anyone. After a week I reached a person who transferred me to be on hold for an hour before I hung up. I cannot create an account with their website - so unless you just want to deal with them through mail - that is apparently the only option. It's impossible to even get the balance on my loan.
I arrived home one night to have Brenda **, a loan originator with Gateway Mortgage in my foyer. She had arrived at my house unannounced with the seller of a house she was originating a loan for. It seems the appraisal that she had received for the house through her appraiser was lower than the amount of loan requested. She and the home seller were wanting the appraisal that my husband and I had purchased earlier in the month when we were going to purchase the house. She needed our higher appraisal for the loan to go through.
She falsified some information that she stated my realtor had told her. She then proceeded to tell me what documents were required by her company. We were told that if I obtained these documents, the seller would reimburse us for the cost of the appraisal. The following day, I obtained all of the required documentation except an HML file that the original mortgage company would not share. She proceeded to tell me that she could not use my appraisal at this point.
I contacted the branch manager, Michael **, and explained my unhappiness with Ms. **. He indicated his company did nothing wrong. Ms.** is just an eager person out to help her clients. I will not recommend this mortgage company to anyone. If they do unethical things like showing up at houses at night of previous home buyers, I wonder what other unethical practices they may participate in.
I did an online application to try and lower my interest rate on my home loan. I was first contacted by Quicken Loans, but was turned down, because they said their Underwriters said I had a couple of late payments, a few years ago, on my current loan. The same result from Loan Depot. But the fact is, for the nine years I had been paying on the note, I have not been late on any of my loan payments and that was confirmed by my lender. I was about to give up when I received a call from Kristy ** at Gateway Mortgage in Frisco, Texas. She was the most experienced and professional person I have dealt with in a long time. She was fantastic. She got my interest rate from 6.150% down to 3.625%. I would recommend Kristy **, and Gateway Mortgage to anyone and everyone.
We had been searching for a reputable mortgage lender to refinance our home mortgage at a lower rate with reasonable settlement fees. I had contacted three different businesses and began the application process only to find that the first company was not registered with the BBB and was nationally known but disreputable.
The second company's rates were too high in comparison to the national average and the third quoted low fixed rates and an acceptable settlement fee and as the application was coming to a close attempted to slip in an additional $2,500.00 to the quoted settlement fees, which we rejected. The company then offered to remove the additional costs but we don't do business with less than trustworthy individuals.
At this point, we were thoroughly disgusted and were opting to keep our current home mortgage as it was. By chance, I saw a recommendation for Gateway Bank Mortgage Company in Wilmington, NC, (senior loan officer Travis **). Since we reside in NC, I thought I would contact one last company, (as I was rejecting the previous one). Mr. Travis ** understood the situation and said that he would love to help in any way he could.
At this point, I was skeptical and didn't hesitate to let Mr. Travis know that. Much to my surprise, the fixed rate he offered was low and acceptable. He also stated that he would keep settlement costs to a minimum and gave us the proposal in writing. Mr. Travis stayed in contact every step of the way, was very personable, polite, and extraordinarily helpful and kept his word. Not one item or fee was changed.
In closing, we got the rate we wanted and settlement costs were negligible. The settlement fee was $4,000.00 less than the previous company wanted with the same low, fixed interest rate. The mortgage refinance was closed in a timely fashion and we could not be more pleased. Honestly, after dealing with the other companies, I was stunned. And now, I am very grateful. This is how business is supposed to be conducted. I would strongly recommend Travis ** at Gateway Bank Mortgage in Wilmington, NC for home mortgage needs. He certainly earned our trust and thanks.
The straw that broke our backs was the suggestion of moving money from an equity line tied to the house to an unsecured credit card and capping our 3% equity line.This action was to be compliant with our LTV ratio after our house appraisal came in lower than expected. We were then told the bank the broker was using no longer endorsed moving money to an unsecured source as it did before the mortgage game went south. This cost us a $270 balance transfer and the capping of our equity line.
One of the reasons we used a broker, is to be guided through these "daily" mortgage arena changes, not be abused by them. Also Gateway became increasingly late returning calls and customer service in general declined. We realized we had no confidence in Gateway going forward and discontinued the relationship.
Finally, after a lengthy attempt to reach the owners of Gateway listed on their website, we received zero response. We would not recommend doing business with Gateway in any form going forward. Also, we reached out to Lending Tree to explain our failed situation. After speaking to a customer service person, we were assured we would hear back from Lending Tree officials pertaining to this situation with one of their preferred lenders.
We sent an explanatory e-mail and we are still waiting to hear back from them after 2 months. Finally, after trying to file a review of Gateway on Lending Tree's site, we were surprised to find they only allow posts from customers who closed loans with them. Wow! That's an unbiased situation! How many disatisfied customers have tried to do the same?
We will never utilize or recommend their services again either.
Gateway Mortgage Company Profile
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- Gateway Mortgage