Southwest Funding
Southwest Funding Overview
The aggregated data is based on reviews and questionnaires provided by PissedConsumer.com users.
Southwest Funding has 2.5 star rating based on 39 customer reviews. Consumers are mostly dissatisfied.
- Rating Distribution
Pros: Exceeded expectations, Amazing customer service.
Cons: Very unprofessional, Dishonesty.Recent recommendations regarding this business are as follows: "NO, the MEMPHIS, TN office is unprofessional.".
The aggregated data is based on reviews and questionnaires provided by PissedConsumer.com users.
Southwest Funding has 2.5 star rating based on 39 customer reviews. Consumers are mostly dissatisfied.
- Rating Distribution
Pros: Exceeded expectations, Amazing customer service.
Cons: Very unprofessional, Dishonesty.Recent recommendations regarding this business are as follows: "NO, the MEMPHIS, TN office is unprofessional.".
Most users ask Southwest Funding for the refund as a solution to their issues.
Media from reviews
Poor Service
- Very unprofessional
Preferred solution: Deliver product or service ordered
User's recommendation: NO, the MEMPHIS, TN office is unprofessional.
This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ
Verified Reviewer | Brentwood, TennesseeReview of Overall Service A-Z
Preferred solution: Deliver product or service ordered
Awful
- Very unprofessional
Preferred solution: Deliver product or service ordered
Very unprofessional
I started a home buying process in February with this company. To begin with things went smoothly.
About a month into the process it was said they needed to broker my loan “ it happens all the time “ which put us taking 4 months to finally purchase our home almost losing the home because the sellers were going to take it off the market. The form of communication was through face book messenger where no one was on the same page and most of the “ team “ was very rude. When it came to asking questions they were very quick to demand things from us however if we had a question no one would answer phone calls or take days to respond. The “ loan team “ would request the same documents multiple times because they were too lazy to sort through what had been sent.
They also tried to make me provide the deed to my parents home, when there was no co borrower or collateral put up for this loan. Our closing date was pushed back 4 times the original closing date was at the end of March and we did not close until the middle of May. The loan officer that we worked with told us that we would have to pay almost 1,000 dollars in closing costs when it was in contract for sellers to pay up to a certain amount which should have covered all closing costs. It wasn’t until a day before closing that we learned we didn’t have to pay any closing costs.
The loan officer was never at work and knowing that we worked nights would wait until late in the afternoon to request documents or to talk to us about the loan process knowing we couldn’t do anything until the next day. This whole process was very unprofessional they were not helpful at all and were very rude to my spouse and I and our realtor through this process.
Horrify
Horrible
100% unprofessional on all levels of handling your mortgage
Unethical practices
1st time home buyer and I have literally been through the wringer with trying to buy a home due to the high amount of my student loans. Ironically it amazes me that furthering my education would come back to bite me when it time to consider buying a home as a single individual.
Needless to say, I first worked with Darletta Newsom in Memphis Tennessee for almost 6 months. Initially she appeared to be supportive, encouraging and confident. I received an preapproval letter shortly after applying for the loan after getting all the requested documents turned in. I found a great home in Bartlett, placed my bid, the sellers accept, paid my earnest money and inspection fee.
Shortly there after, Darletta informs me 2 weeks prior to the scheduled date to close that I can’t get approved for a home loan due to the amount of my student loans. She proceeds to mention the electronic check for the appraisal fee bounced. Ironically the account had well over the amount of the appraisal fee but I took it as a blessing from God. It appeared that she was well aware that she was unable to assist me in the beginning but continued to lead me on.
Even in regards to the appraisal fees, it was clear that she seemed to be more bothered about not being able to get the appraisal money then helping me with next steps. I believed I could have respected her as a “professional” if she wasn’t so nonchalant, rude and disrespectful about it after.
As a first time home buyer, i felt that her practices were unethical and were not in best practice. She should have been honest at the beginning and assist me with tools I need in order to get a home later.
This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ
Verified Reviewer***
Not Military or Veteran friendly. Completely disregarded military clause protections.
This is still unresolved.
- Dishonesty
Preferred solution: Full waiver of loan and bank can have with NO punitive action towards us.
The Memphis Office
The Southwest Funding Memphis office is a MINISTRY and Darletta Newsome is the MINISTRY LEADER!!!
She is definitely walking in her calling by placing God’s people into home ownership.
We will FOREVER be grateful to her for her professionalism, her knowledge, her expertise, and the pride she takes in servicing our loan process.
I posted on my social media page that she is THE BEST in her profession. I wouldn’t recommend ANYONE else.
My husband and I were devastated when we found out she would not be at the closing because we so desperately wanted to meet her. We felt her lack of presence at our closing left a void because she did sooooo much to make it happen.
We LOVE HER and we LOVE our new home.
Great people
Slow, unorganized - unprofessional/ RUDE
Absurdness
Southwestern funding displays a pretty gold banner with the wording 25
years experience. I assume this is meant to instill confidence in perspective
customers that Southwestern funding has the experience and know;edge to
walk one thru the process of completing your mortgage loan process in a
timely and professional manner. DO NOT make that assumption.
However if the 25 year banner is meant to inform perspective customers that
Southwestern Funding had 25 years of experience in failing to meet mortgage
loan application deadlines then said banner is quiet informative.
From a sellers point of view as well as from my interaction with a perspective
buyers point of view this lender is any thing but experienced in completing
mortgage loans in a timely manner. What they are very good at is blaming
everyone and everything associated with the loan process as excuses for
Southwesterns failure for completing the loan process in a timely manner.
They will blame delays on employers HR departments, on property appraiser
failing to do their job in a timely manner, they will have the sellers full
contact info yet insist the seller must prove to them where the seller lives,
they will blame the “law” and when caught in a lie they will simply ignore
that and find another reason not to complete a loan in a timely manner.
Entering the 40th day of a 30 day closing contact and no real closing date in
sight. No consideration for any additional expenses a buyer or seller may
incur due to lenders inability to complete their work in a timely manner.
Mr Schervy Ortiz Loan specialist has helped me recognize a level of
absurdness I did not believe existed.
I would advise any perspective buyer considering apply with Southwestern
Funding for a mortgage to reconsider and I would advise any seller who has a
perspective buyer offer to purchase a home with a mortgage from
Southwestern funding to ask buyer obtain a mortgage from another lender.
Amazing
Do not use them
BAD!!!
About
Southwest Funding, LP is a Direct Endorsement HUD approved mortgage banker and broker with over 100 locations nationwide. Headquartered in Dallas, Texas since 1993, the company has funded billions of dollars in mortgage loans. Southwest Funding currently is licensed to transact mortgage business in 13 states. As a mortgage banker and mortgage broker, Southwest Funding, LP offers flexible loan programs for every situation. Southwest Funding, LP works closely with a number of local and national builders, real estate agents, and financial planners, etc. The company continues to grow and thrive in the industry. In 2003 and 2004 it was recognized by INC Magazine as one of the top fastest growing private companies.
Southwest Funding is ranked 70 out of 1015 in Loans and Mortgages category
USA
Companies Similar to Southwest Funding
Thank You for Your Reply! We are processing your message.
Your comment is successfully posted.
Same thing happened to us after 7 weeks of *** and every excuse possible we lost the home..Even the Realtor and Listing Agent sent such Brutal emails to the loan officer..They will never get those agents or OUR Business again. It was a Total Nightmare dealing with these people