10/22/2014Trans Lending Corporation
I came to Trans Lending Corp because I needed an LTV of 80% not 75% like Chase was offering me. I was told no problem and was quoted decent interest rates. Later on I get an email with "better interest rates" that were actually higher than the original quote. Again, my only requirement of them was the 80% LTV. The following week I get a proposal with an LTV of 75% and the higher interest rates. So instead of getting me the LTV I needed, they proposed a much higher interest rate, as well as a 1% fee compared to no fee from Chase, double the closing costs, and the same LTV as Chase. The very first email that I wrote to Trans Lending Corp stated that I didn't want to waste their time or mine. It turns out that they only make false promises.
If I could give this company 0 stars I would!!! Terrible experience, almost lost our earnest money and the house we wanted to purchase. We started the loan process for a refinance to put a down payment on a house to purchase in early April with Britt Boyles. We were told our loan would be approved and signed initial disclosures with First Option in early May. We then went under contract for the purchase closing 6/6 and were assured by Britt that the refinance would be done in plenty of time to have cash at the 6/6 closing, and that funds would be available a few days after the appraisal was complete. Once the appraisal was done 5/15, Britt claimed that he never told us the funds would be available soon after the appraisal, and also claimed that he didn't even know about the closing on 6/6. For some reason, despite first assuring us that the loan would close in time, Britt could not get us approved. Every day he needed additional documentation and asked for the same things more than once. He waited for weeks to put the file into underwriting even though he knew it was time sensitive. We almost lost our earnest money and the house we wanted to buy. We had to go to another lender and extend our contract and pay $120 per day for 12 additional days plus pay for a second appraisal. The other lender was able to get us approved within the 12 days. All together the incompetence of Britt and his manager John Warren cost us over $3000. I have never experienced such incompetence and unprofessionalism, and we have reported them to the bbb where there are several similar complaints already filed. Should have checked there first!!!