Consumer Complaints and Reviews
Here it is in a nutshell: I was told I was pre-qualified and given a pre-qualification letter for the amount I needed. I submitted my application and all paperwork on the day I was asked. I have ZERO debt and an income of $90,000 per year. I also own all of my vehicles outright. NO DEBT! My closing is in just over a week and the people in "underwriting" couldn't understand the simplest of concepts on how I was employed previously and currently. So now they have to make more phone calls for Verification of Employment. They told me I would not be able to close on time and now I will be out of the country and my family has to move into a rent home. Avoid Network Funding!!! Thanks for NOTHING, Lending Tree!!!
Avoid like the plague. They say loan approved then to con you into paying for the appraisal upfront. Then despite a 60% LTV ratio and income four times the amount of the loan, they ask you to get a letter from the oil and gas company stating that royalties will continue for the next 3 years at that level!!! No oil and gas company in the world will write such a letter. Obvious scammers.
I applied with Lending Tree and received several calls and emails from Andrew ** who said I was pre-approved and there shouldn't be an issue. Mr. ** said he would call me the next day once everything was reviewed. Well, it's been nearly two weeks and no call. I have called and left messages, and also emailed him with no luck. I would assume that something negative was located, which is ok. My advice to Mr. ** would be whether a customer is approved or not, communication is important. Just to ignore someone is sloppy and unprofessional. My advice to a future customer who wishes to use Network Funding is to read reviews very well. Go to your local bank.
After answering an ad for Lending Tree I was contacted by ** in the Dallas Branch. We discussed my loan, he told me absolutely no problem, it was a slam dunk. My closing date was set and I was to close in 60 days. During those 60 days ** told me (the few times I could reach him) "no problem, we don't need any more paperwork, we will close on time."
Two days before we were set to close the underwriters came into the picture. They wanted reams of paperwork which I had already sent **. Long story short I had to contact **'s boss, then his boss then his bosses boss in Houston to get this loan closed. We closed 45 days late! The seller of the property was extremely upset with me and NF. I had to pay him rent for the 45 days. NF said they would cover it but they never did. Network Funding is totally inept, they will not tell you the truth. I would never recommend this company to anyone.
After answering a ad for Lending Tree I was contacted by Wes **, not only once but several times till I returned the call. When I explained what I was looking for I was told absolutely no problem. After my house appraised for $143,000 more than my principal I was told it was a slam dunk. It then went to the senior loan officer Jodee ** . Then she emailed me with a list of things she needed in addition to what they already had. I called her on the the phone for an explanation of what she needed and her phone went to voice mail that was full for two weeks, so tried to call Wes ** with no response.
After I emailed Jodee and asked if they were just a letter head that now had two years of my most personal info, she finally called me back and said she was on vacation and did not take phone calls, that was the last time I heard from form her. At that time I tried to get a hold to Wes and two weeks latter he called back and said I did not qualify. This process took two and a half months. The day took my info to another bank and was approved for a loan for .63% lower than what Network Funding offered. My experience with Network Funding LP was one filled with a pile of paper work and frustration. I would never recommend this company to anyone.
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I applied for a mortgage with Network Funding in Chapin SC and was given a pre-approval quickly. Shortly after I received an information packet via email that explained all of the information that I would need to submit when I was ready to make an offer on a house. My representative from Network Funding (Beth **) was always available to answer any questions I had and made the entire process amazingly painless. I made an offer on a house and everything went extremely well, no problems whatsoever. I highly recommend the Chapin SC office for their professionalism and efficient service.
Our loan app went on forever-- 4 or 5 months to be exact. When we first applied and were making the decision, the loan officer wouldn't leave us alone. Then we didn't hear from him and because he didn't get paperwork in on time. He sent us paperwork to sign for an extension on our percentage at a cost of $650. We revised and they allowed it never asked to sign it again even though it took 3 more months. Took so long that I had retired and without telling us, he went ahead with the loan but in my husband's name only. Didn't bother telling us this until after because he knew we would withdraw and wait. Had to reschedule twice for closing because network funding hadn't done the paperwork. Finally today, we get our loan coupons to find they left off escrow.
Longview, Texas Network Funding is operated by a very nice lady. Unfortunately, the service is severely lacking. I have dealt with Network on two separate occasions and have been victim to the effects of a nice little old lady. I was assured I would be able to close a USDA loan within two months without a problem but on the day we were scheduled to close, she would not answer the phone or call to let me know what was going on.
We did not close but I had to get an extension because she did not have all her affairs in order. We extended the contract for another three weeks and on the week before closing, I was assured that everything was perfect and we would close on or before the closing date. So on the closing day, she again did not call nor would she answer her phones or return my messages.
I had all my utilities set for cancellation and transfer. The home was insured. I had a moving truck reserved and I absolutely had to be out of my current dwelling. Well, now I am out of contract, living with my family on the floor of a friend's house and I still have no idea when this transaction will close. It has been two and a half months since this transaction first touched her hands. What is the deal? The first loan she did for me did not go through ever and ended up costing me about $2000 in expenses. But I thought I would give her a second chance. Well shame on me.
I applied for a refinance home loan. After sending reams of paperwork to these people, my whole life history and a $247.00 appraisal fee, I got nothing but ripped off. Do not use this service. Go to your local banker.
Network Funding Company Profile
- Company Name:
- Network Funding
- Year Founded:
- 9700 Richmond Avenue, Suite 320
- Postal Code:
- United States