Terrible, expensive, time consuming waste of time

1.0
Angel Oak Funding - Terrible, expensive, time consuming waste of time
Angel Oak Funding - Terrible, expensive, time consuming waste of time
Angel Oak Funding - Terrible, expensive, time consuming waste of time
Angel Oak Funding - Terrible, expensive, time consuming waste of time
Angel Oak Funding - Terrible, expensive, time consuming waste of time
This was hands down the worst loan experience Ive had over my 23 year real estate investment career. From my first interactions with my loan officer Marianne Rasmussen, I clarified that I could refinance my investment property even though it was held in a land trust....
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#3378580 Review #3378580 is a subjective opinion of poster.
Cons
  • Lack of knowledge
  • Waste of money
  • Waste of time

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Resolved: Horrible experience

1.3
Update by user Oct 15, 2021

Company fixed the issue and I have been provided with apology. The loan was amended to the original terms I was offered..

Original review posted by user Sep 15, 2021
I received a loan estimate from Angel Oak and was later fully approved for the loan with no changes to my qualifications. At the settlement table, the loan package came in at a much higher interest rate than my estimate (which was locked in!!) and different terms in a much higher and extended prepayment penalty. As I had a $50k deposit and $490,000 down payment at risk, I had to sign the documents. Angel Oak refuses to explain what happened or take any responsibility.

User's recommendation: Beware!!!!

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ID
#2872749 Review #2872749 is a subjective opinion of poster.
Location
Sandy Springs, Georgia
Loss
$10000
Preferred solution
Let the company propose a solution

Bad Bad experience

Angel Oak is being closing on a house for a month, they keep telling the buyers that the underwriter is reviewing the papers and evetime they came out with a new excuse for papers, and that turns into a week, they say the last statement the underwriter has to indemnify that this investment is insurable. so the borrowers putting 100k down for a loan of 160 K is that suppose to take a month and every week ask for a new paper, somebody has to go back to school and review their skills
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1 comment
#1770847

Hello, Thank you for your review. Can you please send further information to marketing@***.com with your name and who your loan officer was that you worked with?

We do not have any branches close to Spring, Texas so we wanted to ensure we heard your feedback to make any proper corrections. Thank you!

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ID
#1693247 Review #1693247 is a subjective opinion of poster.
Location
Spring, Texas

Terrible company