Lakeview Loan Servicing

Lakeview Loan Servicing Reviews

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Written by Taylor Sansano
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Edited by Jana Lynch

About Lakeview Loan Servicing

Lakeview Loan Servicing (NMLS #391521) is one of the largest mortgage loan servicers in the U.S., collecting payments, managing escrow and providing other customer service. It also helps customers take out purchase loans, refinance loans and reverse mortgages. Lakeview is based in Coral Gables, Florida, and is licensed in all states except New York.

Pros
  • Available in 49 states
  • Helpful online tools
  • Complimentary mortgage review
Cons
  • Limited information on website
  • Unavailable in New York

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Rates

Lakeview Loan Servicing mostly services loans, but it does also fund home purchase loans, refinance loans and reverse mortgages. Rates for its mortgage products are not published on its website; you’ll need to contact the company or complete an application to find out what kind of rate you might receive.

Data provided under the Home Mortgage Disclosure Act indicates that in 2021, Lakeview’s average home purchase rate was equal to the national average; in the previous two years, the average rate was slightly higher than the national average.

Lakeview Loan Servicing average home purchase rate vs. national average

Information pulled from public Home Mortgage Disclosure Act data. Rates reflect noncommercial home purchase loans only.

Application process

If Lakeview Loan Servicing is your mortgage servicer, you’ll need to create an account to access your loan information. To do that, you’ll provide your name, email address and Social Security number and then pick a user ID and password.

If you’re interested in getting a mortgage directly from Lakeview, you’ll need to contact the company directly or create a new user account to complete your application. There is an online chatbot available to answer questions, but its capabilities are limited, and you may be better off contacting the company instead.

Lakeview Loan Servicing application features

Loan types

Lakeview Loan Servicing offers purchase mortgages, refinancing and reverse mortgages. To find out what types of mortgages you qualify for, you need to speak with a company representative.

From 2019 to 2021, Lakeview Loan Servicing received 7,601 home purchase applications. Of those, Lakeview closed on 4,735 loans. It denied 1,252 applications (16%).

Loan applications for home purchases only by year

Information pulled from public Home Mortgage Disclosure Act data. Includes conventional, USDA, VA and FHA mortgages.

Refinancing

If you’re looking to refinance your mortgage — whether to take advantage of lower interest rates, change the terms of your existing mortgage or get a lump sum of cash from the equity in your home through a cash-out refinance — you can do that through Lakeview Loan Servicing. You need to call the company to get refinance offers.

From 2019 to 2021, the majority of the loans issued by Lakeview were refinance loans. Home purchase loans made up only a small percentage. In 2021, when rates were at record lows, over 90% of Lakeview’s loans were rate-and-term refinance loans. Just 1.7% of its loans were home purchase loans.

Home purchase vs. refinance loans by year

Information pulled from public Home Mortgage Disclosure Act Data. Includes conventional, USDA, VA and FHA mortgages.

HELOC and home equity loans

If you’re looking to use the equity in your home to pay for a large expense or project, you might consider either a home equity line of credit (HELOC) or a home equity loan. Both let you tap into the equity in your home; a HELOC is a revolving line of credit with a draw and repayment period, while a home equity loan gives you funds in a lump sum, and you begin making payments back to the lender immediately.

Lakeview Loan Servicing only offers home equity loans. Like its other loan products, the terms for the home equity loans are not available online, and you’ll need to contact the company directly to obtain more information.

It is important to note that a home equity loan is a secured loan that uses your existing home as collateral. If you default on the payment, you could lose your house.

Requirements

Lakeview Loan Servicing does not disclose any of its mortgage borrowing requirements online. It does provide a calculator to determine how much house you can afford. As with rates and terms, you’ll need to contact the company directly to find out requirements for different types of loans.

Industry norms suggest that for a conventional mortgage, you’ll need at least a 620 credit score and a 3% down payment. These requirements tend to be a bit less strict for government-backed loans.

National mortgage requirements by type

For more information on other loans, see our guide on jumbo loans.

Cost and fees

Although Lakeview does not disclose any of its costs or fees on its website, you can expect to pay certain closing costs with your loan. Closing costs can include an appraisal fee, credit report fee, discount points, escrow funds and other charges. These costs generally add up to 2% to 5% of the loan amount. After you apply and shortly before you close, Lakeview is required by law to provide documents detailing the costs and fees of your loan.

FAQ

What is Lakeview Loan Servicing?

Lakeview Loan Servicing is a mortgage servicer that also funds home purchase loans, refinance loans and reverse mortgages. It is based in Coral Gables, Florida.

Is Lakeview Loan Servicing legit?

Lakeview Loan Servicing is a legitimate company that is one of the largest loan servicers in the U.S. According to the company, it assists over 1.4 million customers per year with their loans. 

In 2021, it was subject to a large data breach that reportedly affected 2.5 million customers; multiple lawsuits followed. As of the writing of this profile, the lawsuits are still pending.

Where is Lakeview Loan Servicing available?

At the time of publishing, Lakeview Loan Servicing is licensed in 49 U.S. states and Washington D.C. (It is not available in NY.) Although it operates mainly online, it does have branches in five states, including Florida, Nevada, North Carolina, Ohio and Pennsylvania.

Lakeview Loan Servicing Reviews

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    How do I know I can trust these reviews about Lakeview Loan Servicing?
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    • We use intelligent software that helps us maintain the integrity of reviews.
    • Our moderators read all reviews to verify quality and helpfulness.
    Page 1 Reviews 0 - 10
    Customer ServicePunctuality & SpeedStaff

    Reviewed Dec. 18, 2024

    Won't allow and refused to take payments to be made even after full verification w/o answering if your phone is in your name. Will not allow partial payments in excess of monthly amount or partial payment totaling full payment on or before due date. Rude and uneducated staff. Caused me late fees because I have multiple income to separate accounts of mine. Called and told the rep I was calling on due date to make full payment with 2 separate checking accounts. She processed the first and got to the 2nd and stated she couldn't because only one payment could be made a day so I had to wait 2 days for it process and call back to finish payment causing me a late fee. The fee was eventually waived after multiple calls because it was clearly their negligence but when I later need it waived for hardship they refused referencing the one they waived that was their fault. I originally closed with another mortgage company and unbeknownst to me it was later obtained by Lakeview unfortunately.

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    Customer ServiceStaff

    Reviewed Dec. 12, 2024

    Lakeview recently bought my Mortgage from another bank. The other bank had been perfect for years, automatically taking my mortgage out of my account every month. When Lakeview took over my loan they raised the payment by 6%. I tried calling them but their customer service is computer only - no live human. I tried chat and the chat person is in India and has no idea how mortgages work. How does this company stay in business?

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      Customer ServiceStaffTransparency

      Reviewed Dec. 1, 2024

      I have consistent issues with logging into the Lakeview online portal. I continually receive a 403 forbidden error message. I tried changing the web browser from Chrome to Edge, nothing works. A few months ago, I called the customer service number and received very poor assistance. The CS rep just kept saying there is nothing wrong with the website. She had no empathy or kindness towards assisting me. I felt like she did not believe the information I was sharing with her. She did not offer to submit an IT ticket or any steps to help me gain access to my online account. I had to request multiple times that an IT ticket be submitted and the woman finally agreed. She said someone would follow up with me, however, I received no communication at all. A few weeks after that, I could log in. However, the problem is back. I am VERY frustrated and disappointed with this Lakeview company. When I was using the Mr Cooper website, I never had an issue logging into my account. Not to mention, the Mr Cooper dashboard was WAY BETTER than the Lakeview site.

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      Reviewed Nov. 13, 2024

      This is the worst company I have ever dealt with. When it comes to disaster relief they tell you that you have options on how to repay the funds during the forbearance period. However, they do not give you options at the end of the period. They say the only option at that point is to refi your loan and jack your percentage right up 3 to 4 percent. Crooks!!!! Stay away!!!! Especially Veterans.

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      Customer ServiceLoan Process

      Reviewed Nov. 13, 2024

      Lakeview Loan Servicing was my incumbent loan servicer after my original mortgage was sold from Rocket Mortgage. I just completed a refi with them & definitely won't be doing business with them again. I struggle to see any value they added to the process to begin with, they surprised us with out-of-pocket expenses after being promised there would be none, and they neglected to tell us to make updates to our autopay that, in my opinion, should have been automatically adjusted. We're currently waiting for a refund and they're saying it can only be processed after 3-5 business days, and then they'll send the payment via USPS. They're making a disgusting amount of money for so little effort, ask their customers to take on all the risks, and demand that we pay with wires & ACH but refund via USPS. Stay away — I see no evidence that they value their customer experience.

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      Reviewed Nov. 9, 2024

      I was giving this company when refinancing my house for taking cash out, and my headache started, paying double my insurance coverage and not being told the reason, they told me, that I was behind, but when I pay they continue to charge me double on my insurance premium, making a hardship being a disable veteran, I can't wait for the interest to come down so I can move my account to another Company.

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      Caroline increased rating by 2 stars.
      Customer ServiceStaffLoan ProcessRates
      After a positive interaction with Lakeview Loan Servicing, Caroline increased their star rating on Oct. 17, 2024.

      Updated review: Oct. 17, 2024

      Company did the right thing and let us out of our agreement.

      Original Review: Oct. 16, 2024

      Updated on 10/23/2024: Let's see if we can get this resolved once and for all. Lakeview is now holding us back from refinancing our home with Imperium Lending. We cannot get the pay off amount until they finish the cancellation of the original refinance loan funding. We have called and emailed them multiple times and they cannot give us one good reason why they aren't finishing up so that we can move on. At this point, the behavior seems intentional. I am hoping that we can resolve this issue soon and move on from this very unpleasant experience.

      Original Review: These guys ripped us off on our refinance pretty badly. My husband got a VA Loan they last year and called us to refinance our home after 18 months. The guy Alfred ** was very rude and arrogant and insisted that he couldn’t get us a lower interest rate. Unfortunately, we found out after cancellation deadline that we could have received an entire percent lower interest rate and also saved on around $3,000 in fees. They take advantage of people badly. We will be refinancing again in 6 months with the other company of whom I highly recommend and have excellent ratings, Imperium Lending.

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      Punctuality & Speed

      Reviewed Sept. 14, 2024

      Suddenly they don't take payments on the weekends?!? What complete nonsense. They obviously do that so they can stick an ARTIFICIAL late fee when you pay on the 13th or 14th on a weekend/Monday holiday. Disgusting money grab from people that are clearly facing hardship if they are paying right before the late fee cutoff date.

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      StaffLoan Process

      Reviewed Sept. 11, 2024

      I have been going thru a medical emergency with my husband and at the same time trying to go thru this loan process. Nick has been there every step of the way. He's always been there to help with whatever has come up. Knowing he's there has helped with a very stressful situation and is the reason this loan happened..

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      Customer ServicePunctuality & SpeedStaffLoan Process

      Reviewed Sept. 4, 2024

      I had the best mortgage experience working with Jarden ** from LAKEVIEW LENDING. He won me over from another agent from Loan Depot that I was working with regarding re-financing my home. At first, Jarden was courteous, friendly, and very knowledgeable, which is why I switched from Loan Depot's agent to Lakeview Lending. As we talked daily, I realized he was a great person. Really concerned about getting me the best loan possible and it was obvious he was there for me. I don't like texting so he would call me and ANSWER ALL MY CALLS.

      I felt as if I had a family member looking out for me. For example, if I received an email saying I needed to send or sign a document, I would call him and he would say...disregard that, I already took care of it. Or....let me see and I'll get in touch with you. And he came through every time. We had to change the closing day because my daughter was having a gender reveal party at home and not only did he accommodate us with another date but called the next day to ask me about the party and congratulate me on becoming a grandfather!!! JARDEN... YOU ARE THE BEST!!!

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      Sources
      ConsumerAffairs writers primarily rely on government data, industry experts and original research from other reputable publications to inform their work. To learn more about the content on our site, visit our FAQ page . Specific sources for this article include:
      1. Federal Financial Institutions Examination Council, “ HMDA Data Publication .” Accessed Sept. 23, 2022.
      2. National Mortgage Professional, “ Lakeview Loan Servicing Faces Multiple Lawsuits Over Data Breach .” Accessed Sept. 20, 2022.

      Lakeview Loan Servicing Company Information

      Company Name:
      Lakeview Loan Servicing
      Website:
      lakeview.com