Sterling National Mortgage

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Consumer Complaints and Reviews

Sterling National Bank sold our mortgage soon after it closed and violated federal law by not sending us the mandatory RESPA required notice within 15 days of the effective date of transfer. We have their 9/17 postmarked envelope that clearly shows that it was mailed to us after the 15 day RESPA requirement. The effective date of the transfer to Cenlar was 10/01/15. Sterling broke the law and violated our rights. We wanted to have our loan rescinded and to be refunded our closing costs and the legal fees that we paid to our attorneys to evaluate our options. Sterling has denied wrong doing and has refused to rescind the loan. At this point we want no further affiliation with Sterling or Cenlar (the bank our mortgage was sold to). We will have to refinance our mortgage with a more reputable financial institution. Avoid dealing with this bank at all costs... Really stay way!!

I attempted refinancing from Sterling National Bank to pay off my high interest debt. One month after the loan process started, the broker sent me an email asking if I wanted the rate locked since the rate lock would be expired the next day. Of course, I wanted it locked but the loan processor on the same day requested another document, which prevented rate lock. "As a result, new higher rate would be applied," the broker said. The closing was delayed and the daily fluctuating rate went up. I didn't like the new higher rate so was determined to give up refinancing even though I already paid $405 for appraisal. Then the broker offered $1000 out of my pocket for the original rate or $750 credited at closing for the higher rate. I felt terrible and didn't want to work with these people giving up the loan.

Then the broker and the processor offered the original rate but the closing had been delayed for another 2 months. The broker offered another appraisal for a new file since the first one was expired. I already paid $405 for appraisal and $250 for required documents to my cpa. Now I wasted $655 and time for nothing. Never work with Sterling National Bank, which is the worst of the worst. I wish I could give 5 negative stars.

I was attempting to refi my home to lower my interest rate. The broker that did my current mortgage, and I liked them switched to Sterling. We are 6 months later the broker left and got a job at a new bank because in their terms "this place is a nightmare." The processor emails me a list of things they need for the 3rd time. I've sent in everything and have confirmed with the old broker that they got it. I've asked "what has happened to my personal info?" and they do not answer just say "please send it again." This place is so unprofessional. You have to call so many times to get anything done and then it seems they lose your info anyway. I would tell people to stay away.

Using my online bill pay, I mistakenly paid Capital One twice, intending to pay Ford Credit. I called Capital One who immediately reversed the error and returned to money to Sterling on July 9. This was an electronic transfer and yet today, July 14, the money is not back in my account. I have spoken with 4 customer reps at SNB and yesterday was told that if Capital One sends a fax, the funds will be immediately released. Capital One did that. Today I was told it takes 3-5 business day for my money to be put back into my account. Why???

My first interaction with Sterling National was at the recommendation of (2) real estate brokers (yes, my 1st mistake) -- I was also talking with a loan representative at Wells Fargo and the customer service level I received from the SNB rep at the onstart was fantastic. The loan officer was expedient, responding to all my inquiries in a timely manner, thoroughly explaining each step of the application process and at the end of the day provided knowledge that I didn't previously have about buying a home and applying for a loan. However, once I was approved for a loan and handed over to the processor everything changed.

The decline in communications and transparency was appalling. My close date was originally scheduled for EOY 2014 and the processor was insistent that the date was imminent and that I needed to liquidate my funds to show evidence to the underwriter. Well, I did what she said and now have to pay a considerable amount of taxes for the liquidation of those asset because my close date happened a month later in 2015. By this point of course I was too far into the buying process to cease and desist, and risk losing the property so I forged ahead. When I made a grievance against the loan processor to my loan officer and his team, there was no escalation whatsoever and I had to send multiple emails and inquiries to folks at SNB (which by the way is incredibly difficult to find since their contacts are not listed hierarchically anywhere) to get any kind of response.

It took ten days for my loan officer to respond (he was on vacation) which of course took no responsibility for the actions of anyone on the team nor apologized for the misstep. To top it all off, at the closing there was an escrow discrepancy (they included taxes for an abatement property & insurance for which I prepaid), I was promised that the team would stay on it and circle back but of course they did not and now my first payment is due and it's the wrong amount.

I've been up since 6 am writing emails and leaving messages to get this resolved as quickly as possible. So we'll see how this last piece pans out. Although I was able to secure a low rate on my loan, I'm not sure that is a consolation to all this emotional duress and financial implications. During the closing, my attorney assured me that at some point Sterling would most likely sell my loan to one of the top banks, I certainly hope their level of customer service supersedes Sterling. I now regret not using a more well-known mortgage bank.

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I was locked out of my mortgage account. When I called my local branch they told me I had to call client services. I called client services, when asked for social security number associated with the account I gave them my husband's, knowing his listed 1st on the mortgage. I was told since I used his number, not mine, I had to hang up and call back, and when I call back I was to give MY social security number. I asked if I could just avoid the hassle of calling back, waiting another 20 minutes on hold, and just give her my social security number. In a most condescending tone I was told I had broken security by posing as "someone else" and that she could not help me any further. Since Sterling took over Provident the level of service has plummeted.

I used Provident Bank since it merged w/ Warwick Savings Bank. The customer service was great. Never had any issues with banking when it was Warwick or Provident, but Sterling took over and nothing good comes out of this bank. You have to wait a half hour to hour just to put money into your accounts, no matter what time or day you go. Online banking horrible, forgot my password so I clicked for it to send to my email. Never came, sat on hold for 35 minutes for a rep. Gave me a temporary password, doesn't work, now waiting for a half hour for a rep. I wish I could give this bank a negative amount of stars, but unfortunately I have to click 1 star. I absolutely hate this bank and everyone I speak to feels the same. No one has a good word to say about this bank.

This is the latest of merges that my original bank has made. SNB stands heads above the rest for long lines, lack of organization, caring or customer service. It has been over a year and average wait time is 30 minutes on lines. This letter is being written as a review so that others don't make the mistake of dealing with this bank.

Ever since Sterling National Bank merged with Provident Bank - a friendly local bank has been turned into a bureaucratic, impersonal boondoggle. The people in the bank are the same - since most Provident employees moved to Sterling. However they are burdened with a poor corporate customer service culture that leaves people hanging on the phone for 20 to 30 minutes - such as today Dec. 9th from noon to 12:30 and again 2:10pm to 2:25pm - with no one picking up. How many times can I listen that "your call is very important to us" while I waited on the phone because I could not get to my account online? I was able to conduct business online with Capital One 360 and Wells Fargo Bank. So it's not banks in general, it is just Sterling National that is inept.

Regrettably, I am stuck with them because I have two mortgages - that I got with Provident - and now Sterling has them Or the mortgages may be with Dovenmuhle Bank in Illinois. I'm still trying to figure that out. All I know is that paying your mortgage at the teller's window takes 10 days for it to clear your account. And that means dunning notices from Dovenmuhle and Sterling that your mortgage is late when they in fact have the money. Total nightmare. Stay Away from this bank.

On Sunday 11/9/14...I called my said it I was negative. .so I called customer service they told me they were going through a system upgrade...One program had my account with 1218 and another program had it at negative more than 500....They said call on Monday, I did that, I called my account and now it said I had over 1900 in my account...So I went to the atm and it said the same thing so I withdrew 400 to pay for a daycare and I paid other bills thinking I had money in the account...I called on Thursday 11/14/14..and I found out I was negative over 400 because I really had 700 based on the guy's computer..I go to the Nanuet branch with the atm receipt and they basically blamed me for their mistakes and told me to put the money back in the account...

Meanwhile I live paycheck to paycheck and by Friday I'll be negative over 600..I had to call one of my credit cards and ny truck leasing company and let them know what is occurring. According to them and customer service there is nothing they can do and to go back when I get paid in 2 weeks, meanwhile I have 34 dollars to my name and what is being returned is all the return bank fees..They need to pay my bills....I have filed a complaint against them...They should have stayed provident bank...It is inexcusable..I'm not the only one with this issue...

Horrible service for getting a NY Mortgage. Unprofessional to the max. Several times I asked for info and never got it. Phone calls were not returned. Worst yet - we were told that we were approved at one rate, and then another rate appeared on the papers. You either sign or loose the deal. Go look elsewhere for a loan!

I had been with Provident banking for over 20 years. Since they changed to STERLING NATIONAL BANK, I have had nothing but problems. Most recently and most devastating was PIN fraud. Sterling's customer service was basically non-existent. Several quotes from Sterling "Customer Service": Todd - "I have no idea how long it takes." Charday - "I can't stay on the line with you like this." After 5 phone calls and multiple hours and 4 days, I finally found out it would take Sterling 10 Business days to investigate and then notify me of their decision. The Federal Trade Commission states they are mandated to credit your account in 10 days! FYI Chase will credit your account usually within 24 hours THEN investigate. And Bank of America will credit in 3 business days while they investigate. You never know how BAD your bank is until something happens!

The Sterling Bank website has been down for the past 3 days; it is July 18, 2014 and I cannot pay bills online, nor can I reach a human being to explain this to me. When Provident was in charge, this never happened and I have no idea why this bank cannot keep its website working properly. I think it is time to move to TD, a bank that appears to be friendlier and more efficient. I called the branch where I bank and they have no answers.

I've been a customer of Provident Bank since it was Rockland County Savings Bank, more than 20 years ago. Since Provident merged with Sterling it has been less customer friendly. The Website is down more frequently - such as today (Jan. 17th 2pm to 4pm EST). In addition, the customer's page does not have information on a mortgage I have on a rental property, nor does it have info on my Equity Line account. Folks at my local branch the loans are now handled by another bank (not sure of the name but sounds like Dovenmuehle or Douchbag). I continue to pay my loans but I can't see them online.

My husband and I inquired about a Streamline refinance through Sterling Bank. During my conversation with the Sterling loan officer, I explained that we are underwater in our current mortgage due to the real estate market and have a very high interest rate. There are no comps in our area, and we realize that the only loan we could use at this point would be the new Streamline for refinancing that requires the original loan to be FHA. I said that I thought our current loan was FHA. The officer stated he would check on a few things and get back to me the next day.

Four days later, he called back to tell me that our loan is not FHA and that there are no comps in the area for appraisal purposes, but that it was pretty certain we owe more than the house is worth. We already knew that, which is why we were inquiring about the Streamline. I thanked him for his time, and that was the end of the conversation. It's now 2 days later, and we find out Sterling has just run a credit check on my husband. Excuse me? What the hell for? A Streamline doesn't require a credit check, and we've already established that we don't qualify for a new loan be it Streamline (because we don't have an FHA loan) and conventional because we're upside down. They have absolutely no business running a credit report at this point.

I have been affected by the economic cases. I had a reduction in my wages causing a hardship and became delinquent in my mortgage payments. I have been working with my first lender, PNC mortgage, on my loan modification. However, I have been pleading with my second lender, Sterling Home Loans Inc. They continue to deny me the opportunity for a loan modification because my home had equity. We can't understand why Sterling Loan Services is not willing to help the homeowners to stay in their property. I want to formally file a complaint and an investigation against the procedure and practices of Sterling Home Loans Inc. I believe they are not in compliance with the Making Home Affordable program. I want to keep my home as it will cause a tremendous suffering in my family and my children are in anguish because of this agonizing situation. We want to keep our home. My family and I are asking for your assistance in this matter please. Thank You.

I was contacted via letter from Sterling Bank’s Mortgage Department and that I would be approved. I had an equity line of credit of 100K and 40K left with Chase Bank and my primary mortgage with M&T Bank. I spoke to Jim L. that I wanted to refinance and that I needed to keep my equity line of credit. He told me that my credit line with Chase had to be closed. In addition, he said that I would not have a problem getting a $30,000 line of credit with his bank because of the equity in my house. I told him that I need to have a line of credit. I was approved. I tried to get equity line of credit right after the closing and was turn down by M&T, Chase and Sterling.

I would not have agreed to have a refinance unless I was able to get a line of credit. I was deceived. I wish I could reverse the refinance of my new mortgage because I need that equity line for several projects and cushion for emergencies. The consequence is that I am unable to fix my bathroom and kitchen. It needs major repairs. There are leaks in my infrastructure. I do not have additional monies. I am currently on Social Security disability and have a fixed amount of money coming in. I have a family four and no one else is working. Please note I contacted Mr. L. and he denies ever talking about my equity line of credit until the time of the closing. I emailed him back that I strongly disagreed and will file a complaint. I wish I can turn the clock back. I would not have gone through with the refinance if I was not able to keep a line of credit.

Last year I planned to move to Los Angeles to start a new business. I bought a condo outside of LA in El Monte to start the process. American Sterling Bank granted me a loan to purchase it. After close of escrow, I started moving into the house and doing some cosmetic work and fix-up. Because of my busy schedule, the work didn't completed until almost two months later. Afterward my sister joined me to move in so she could start college at UCLA.

Unfortunately, the business I planned to opened there didn't go smoothly as planned. I just spent all my money to purchased this home and invested in the new business which didn't generate any income right away. I was in a major financial distress at the time. As the same time, I was burdened with a new mortgage. I was forced to come back to San Diego and continue my old work to pay the bills. It lasted for a few short months, during which I traveled back and forth frequently between San Diego and El Monte. But I managed to pay all my bills including the mortgage on time.

However, sometimes during the my distressed process, American Sterling Bank sent an investigator to verify my residency status. I explained to the investigator about my temporary circumstance that I was unable to remain in the property 100% of the time. He assured me that he would report that detail to the bank and hope that associates at the bank would understand the situation.

I assumed everything was okay. I sent my payment every month as promised. Then I received a surprised foreclosure notice in April 2004 from the bank demanding a pay off immediately accusing me of defaulting on the loan I didn't live there 100%. As I was already in a distress, I was stuck with a situation that had no way out. Fortunately, a buyer at that time contacted me and offered to take over the property and pay off the loan and associated costs for me before the end of April 2004. I could not come up with any other solution, so I accepted the offer. I felt so much stress about the whole situation that I left the entire transaction to an escrow company. However, it was not until May 2nd that I realized the transaction was not finalized as promised. I asked the escrow company to request for a paid off amount from American Sterling Bank in April. I expected the deal was closed in April 2004 so I didn't send the monthly payment to American Sterling Bank for April because I expected to pay off the entire loan. I contacted the buyer for an explanation and found out that he was not able to obtain the fund needed on time as he expected.

I contacted the bank immediately and explain my situation again that it wasn't my intention to pay late for April because it was all my intention to pay it off. I requested for more time so the buyer could get the money he needed to close escrow. I also asked if I could pay the April payment and late fee over the phone. I received a cold and heartless reply that it would not make any difference now that the payment was late, and the bank would report it to the credit bureau so that my credit rating would consequently be destroyed. I felt like crying at that point, but I brought my payments current anyway.

The buyer finally got the fund he needed to close the transaction in June 2004. During May to June 2004, the escrow company had sent two paid-off request to the bank. They finally wired the paid-off amount according to the paid-off statement from the bank. Then at the last-minute, I received a call from the escrow company that American Sterling Bank had threaten to send back the money they sent because the bank forgot to include a prepayment penalty from the previous demand statements. I called your bank back and ask for an explanation. My understanding of the response was that the bank demand me to paid off the loan early and then penalize me because I did so. I was speechless and dumbfounded. I cannot see anything more unjust than this, but I had no choice but to pay the penalty to end this whole dilemma.
I was relieved that this dilemma was over anyway, but its ghost still haunt me because my credit rating was literally destroyed after this. I had a second loan on this home as well with Countrywide Home-Loan. The April payment was not sent to them either, but I called them and explained my case. They were so understanding and extremely generous to waive the late fee and remove the late pay status from my credit report. But then I called American Sterling Bank again and poured out my heart in a desperate plea to ask the bank to remove this late payment status from my credit report so I can move on with my life, but I was cruelly rejected.

American Sterling Bank had acted like "it is all about us, and screwed everyone who doesn't live up to our standard." Yes, the bank might have done everything legally. They might have followed every letter of the law, but there is another side to the law. That is the spirit of the law which is fair and just. I shall not be silent and resting until I my justice is restored.

They have a scam with fraudulent accounting system like numerous other consumers who have dealt with them I am have had late charge applied to my payments although I have chq and dates saying they were sent 7-10days before delivery.Numerous attempts to get my loan papers and amounts have been ignored.I still have one more year till the end of my loan period nine more payments left.When I signed the loan there was no prepay penalty but now they want charge me the same amount to prepay as i would pay at the end of the term.

Sterling National Mortgage Company Profile

Company Name:
Sterling Bank and Trust