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Mortgage Lenders of America
Overall Satisfaction Rating
2.14/5
  • 5 stars
    2
  • 4 stars
    0
  • 3 stars
    0
  • 2 stars
    0
  • 1 stars
    5
Based on 7 reviews that contain star ratings
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    9 Mortgage Lenders of America Consumer Reviews and Complaints

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    Page 1 Reviews 1 - 9
    Rated with 1 star
    Verified Reviewer
    Original review: May 30, 2018

    We sold our home and were moving. Our buyer used Mortgage Lenders of America which ended up being a huge disaster. They had a month and a half to get his loan ready for the closing. We had a closing date set for a Monday. We were informed at 4:45 pm on the Friday before the closing that we would not be closing on Monday but maybe on Tuesday. We ended up closing a week later on the next Friday but it was too late to close on my new home. It delayed our closing on our new home until the following Tuesday because of the holiday. My lender got my buyer's file and reviewed it during this delay process and said that there was no reason why they missed the close date with the amount of time they had. My lender was ready to take over if he had not closed when they did. My buyer was really mad also.

    Their incompetence cost me over $1000 of addition expenses that I will never see again!! I had already rented a moving truck and had people scheduled to help me load on the weekend. I had to pay for eight days truck rental. If I had hired a moving company I would have been out of at least $3000 plus. I have the incompetent loan officer's name but I am not going to post it. I guarantee you that if it had been his money that he would have got it done in a timely manner. Use a local company with a local office!!!

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    Rated with 1 star
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    Verified Reviewer
    Original review: March 26, 2018

    My agent seemed to be less sure of the entire process than I was, and it was my first time attempting to buy a home. My questions were blown off, or just not answered, and it seemed like every couple of days there was a list of new hoops to jump through, but jump I did. Two months into the process, the afternoon before I was supposed to close, I get notified that the underwriters had changed their minds on their decision to approve me, based on information that I had given them on day one. This was after they had reviewed everything multiple times and given me my approval. This forced me to miss my closing, and forced the sellers to miss the closing on their next house. I can't recommend avoiding this company enough, their service is garbage and their staff is untrained. I ended up going with another company that managed to pull off everything in half the time MLA did, and they actually saw things through to the end.

    13 people found this review helpful
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    Rated with 1 star
    Verified Reviewer Verified Buyer
    Original review: Feb. 6, 2018

    I also was a victim of this company. I was online house searching and a man by the name of Jeff ** contacted me on my phone telling me he could check to see if I was prequalified for a home so I gave him my information and he told me I was prequalified so the next day I found an realtor agent and started my house search. This was early November of 2017. I found the house of my dreams and I contacted and gave him all the information he needed on the house and he said he would get started on my contract so I paid my $1000 dollar Earnest money. I paid my $525 appraisal and my $267 for inspection. So as a first time home buyer I was excited. I was given a closing date of December 30th 2017.

    Well December 30th my realtor agent called me and told me that Jeff had been Fired. My first question was what do we do now and he said we will be working with Jeff ** Mark ** so I said ok as a sign of relief and so we rescheduled my closing date to January 7th 2018. Well 4 days into closing Mark sends me a email saying he couldn't close the loan because Jeff had falsified my documents saying I had 10'000 dollars in reserves. Well I never told Jeff that. We never discussed my assets so or what I had in reserves. So I called my agent in tears cause I was lost, scared and confused.

    At that point I felt like I had been a victim of fraud so my agent called Mark and he got NO answer. I called and emailed for 3 days. NO answer. Now me and my kids are now sleeping on a floor at my sisters house. My daughter crying because she promised her friends they could have a sleepover when we move in our new home. So now they're laughing at her at school because we didn't get the house. We moved out our home to my sister house to a floor.

    I cant tell you how much that hurt to open my eyes every morning and see my two beautiful kids on the floor beside me sleep. This company has shattered me and my kids dreams. At the time my fico score was 687, my Experian score was 664, my Transunion score was 642 for a FHA loan. The required credit score starts at 580. My income met the requirements so I don't why this happened to me. And others please future home searchers find your own mortgage lender. Don't deal with this company because like the other reviews I have read that's in the same situation I'm in you just might be next.

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    9 people found this review helpful
    Rated with 5 stars
    Verified Reviewer
    Original review: Aug. 28, 2017

    I am a realtor in PA and have had one of the best experiences with Erik ** Mtg. Originator of Mortgage Lenders of America and the transaction he made come true. Erik is professional and experienced in the mortgage business. He had the understanding of my buyer's needs. This was my buyer's first home purchase. Erik took the time to explain the process and worked with the buyer step by step to get us to closing. He took challenging buyers and made them home owners, meeting deadlines and state regulations. Without his help this deal would never have happened. When referring lenders I do not hesitate giving Erik's name to my clients.

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    Rated with 1 star
    Verified Reviewer
    Original review: May 17, 2017

    This company search me out after I went house shopping online. Greg ** contacting me, offering to get preapprove. I did so. 2 months later, after going into a contract on a home Greg told me I didn't qualify for the loan. His call came 2 hours after I mailed the diligence and Earnest money. He had looked at a VA loan when my wife and I did not have military experience. He then looked at another loan and said it looked better and it should work. A long story short, after signing disclosure and sending all the documents the underwriter ask for, he told us we did not meet the qualifications. We are out of the $500 diligence money, and now Greg won't answer the phone. STAY AWAY FROM THIS COMPANY!!! THE ENTIRE EXPERIENCE WAS MISERABLE!!!

    13 people found this review helpful
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    Rated with 1 star
    Verified Reviewer
    Original review: Nov. 24, 2016

    Speaking from the seller's point of view, MLOA has dragged out this loan process way too long for the couple I am selling my house to. It has been almost 4 months they have been strung along and still no closing date. I do not know if the loan officer is too inexperienced or she takes too much time off from work but this loan is obviously not a priority for her or this company.

    18 people found this review helpful
    Rated with 5 stars
    Verified Reviewer
    Original review: May 11, 2015

    My loan officer, **, was on top of everything from the beginning. Easiest transaction I've ever had. Closed in three weeks, and I even got most of my money back from the escrow deposit (1st time my realtor had seen that). ** answered all questions and addressed things I hadn't thought of... Very professional, personable, and all around easy to work with. Highly recommend these folks!

    7 people found this review helpful
    Original review: April 28, 2010

    I submitted a full contract with them on March 4th, 2010 and everything was good. Then two days before closing, they sandbagged me with a last minute change which forced me to lose a $8,000 homeowner tax credit last minute. They said my financier can no longer be on the settlement statement. She was the only one who qualified for the tax credit.

    They were aware of this and didn't inform me intentionally until the last minute in order to endure I wouldn’t leave. If I did, I wouldn't have enough time to close with another lender in order to meet the Tax Credit deadline. They performed very poorly and I suggest going to the other 9 million lenders out there than gamble on this one. Bad faith and very poor business ethics, do not do business here. I had $8,000 tax credit lost, thanks to Mortgage Lenders of America.

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    37 people found this review helpful
    Original review: Nov. 13, 2009

    These lenders never looked at the file and had the file for over a month,

    My sellers are elderly and have been waiting to close, the lenders would not return our calls or give us a reason the file was not looked at or even gone through, I had called about 20 times as well as the title company calling,
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    38 people found this review helpful
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    Mortgage Lenders of America Company Information

    Company Name:
    Mortgage Lenders of America
    Website:
    www.mortgagelendersofamerica.com
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