Cherry Creek Mortgage
Reviews and Complaints
Cherry Creek Mortgage is not ethical
I dealt with Lori Richardson of Cherry Creek Mortgage, who promised us a loan for 3 months and even increased our qualification after submitting the 2011 tax return, then after questioning her on her math, she turns around and tells us to go find someone else. Just like that!
When it comes to financing, the broker/lender should disclose everything, including how they arrive at their conclusions and how they do their math. Purchasing a home is probably the biggest purchase an individual could make, and to not have full disclosure in the lending process and complete transparency, is nothing short of a scam and makes the ethics of that lender questionable to say the least. I was told one amount in April, and then another amount in June, and when I questioned it, I was told I can't meet your expectations. This is a cop out for saying, 'I don't want to work with you, because you dare to question my work, and call me up on my mistakes'.
The mortgage process is complicated, and broker/lenders must take the time to explain the process and how they derive at their conclusions to their customers. Otherwise, it puts the whole mortgage/lending business is a very bad light. Questions should be addressed, encouraged and allowed. Egos need to check themselves out the door.
I felt poorly treated, mishandled and misunderstood by 'Loans by Lori' at Cherry Creek. Also, it was apparent that she lacked the knowledge and expertise to handle our type of loan.
Would not recommend Cherry Creek Mortgage
Cherry Creek Mortgage is Terrible!
We've used Dana Smith at Cherry Creek Mortgage... Twice. Which makes us the idiots in this scenario.
With the first mortgage she called us 30 minutes before closing to inform us that our mortgage would be $500 more than she had told us because she had miscalculated the taxes.
Now with this second mortgage, she responds to absolutely nothing, never answers her phone, never calls back realtor's on either side. We were told a month ago that we were approved and everything is a go. Now a day before closing all of these last minute requirements are popping up out of nowhere and we still don't know if the deal is going to go through. I know obtaining financing has become a difficult task, but cutting off all communication is not acceptable. This time she went on a weeklong hiatus due to an illness in the family... what a surprise, I know another client of hers that she disappeared on due to a mysterious family illness.
I'm pissed and I want anybody considering getting a mortgage to know Dana Smith with Cherry Creek Mortgage is not the route I'd recommend... EVER
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Worst company ever. Non ethical, slimy, sneaky back stabbing, non regulatory following corporate office I've ever dealt with. I would be shocked if regulators haven't figured out what a train wreck that place is yet!
Beware! These people lack in customer service and have absolutely NO clue on how to do business.
I have been using The Woodlands office and have never had such bad service. Buyer asked for Good Faith for weeks and got minimal one not really showing all of what to expect even though they were giving all numbers to fill in from insurance to taxes.
We are just days from closing and lender gets appraisal and wants repairs done that are not mandated by FHA. Have had other FHA appraisers look at file and said it is BS. Lender won't give us final HUD amount that buyer will owe at closing. If a buyer can't know what they will owe at closing more than 24 hours before it is crazy.
Lender knows how much it will charge for escrow and other items,they just wont take the time to call and get the numbers. Lender could careless that buyer has to come up with thousands of dollars more for repairs.
This will be the last time that I every use this company. They have you pay all fees up front so they don't have to give good service and you are stuck.
This company has the worst customer service I have ever seen. Find someone else to do business with and save yourself some time and money!
Cherry Creek Mortgage has cost us over $7,500 due to their negligence in not being able to read a credit report correctly. Even after trying to settle with them outside of legal action, they refused to respond in a timely fashion and their only offer of help was to do another loan -- after we missed out on our dream home!
From their local office here in Prescott, Arizona, to their legal personnel in Colorado, I have nothing but disgust for their poor customer service and lack of empathy for customers. I would not and will not recommend Cherry Creek to anyone!