Cal A Wsz
map-marker Memphis, Tennessee

Poor Service

stars-rating-full stars-rating-full stars-rating-full stars-rating-full stars-rating-full
I have been trying along with the buying agent and buyer to reach the loan officer concerning a closing that was supposed to happen on Sept 8th. We can't get the loan officer who is also the branch manager to return our calls, answer our emails or text. This is day 3, and we still have no idea what is going on. I would not recommend this company. There is no one over him to call or go to for help.
View full review
Loss:
$32664
Cons:
  • Very unprofessional

Preferred solution: Deliver product or service ordered

User's recommendation: NO, the MEMPHIS, TN office is unprofessional.

Ricardo R Oct

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
| map-marker Brentwood, Tennessee

Review of Overall Service A-Z

stars-rating-full stars-rating-full stars-rating-full stars-rating-full stars-rating-full
Southwest Funding - Review of Overall Service A-Z
Double file. Loan Officer, Kim White received two clients to process as the buyer and seller on one deal to be closed together. The File was given to K. White initially 10/2020. Contract accepted submitted with closing date 12/18/2020. To date 01/19/2021 this is still being reviewed by underwriting. The fourth amendment to the closing date and reach outs as far as Operations management and CEO Don Yount still NO resolve. This finance company and the chain of command we have had to TRY escalation through has proven to be unsuccessful. This finance company breeds incompetence.
View full review

Preferred solution: Deliver product or service ordered

audrey o Zqs
map-marker Northeast Dallas, Texas

Awful

stars-rating-full stars-rating-full stars-rating-full stars-rating-full stars-rating-full
The process started in April when I received a pre-approval. We found a home, went into contract with an original close date of June 21. It is now July 23 and there is not a clear to close. I have had to put $1000 into escrow every week in order to extend the contract with the seller. I am ready to lose thousands of dollars this week if we don’t get the clear to close. Mental, financial, and emotional exhaustion throughout the process.
View full review
Loss:
$7500
Cons:
  • Very unprofessional
Reason of review:
Bad quality

Preferred solution: Deliver product or service ordered

1 comment
Mili Egy

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

Anonymous
map-marker Perris Valley, California

Very unprofessional

stars-rating-full stars-rating-full stars-rating-full stars-rating-full stars-rating-full

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.

View full review
2 comments
Guest

I do understand and I am getting the same thing in return

Guest

Note this took place at the Gallatin office in TN, Jack Cooter, Susan Hatmaker, Rachel Rayburn, Cindy Kelly, and Marty Human were all part of the “ team “ that caused this chaos

View more comments (1)
Anonymous
map-marker Memphis, Tennessee

Horrify

It is currently happening ... I am unable to get in touch with the branch manager and he will only answer me through via emails when it fits him. I never have a clear understanding and the lack of concern or consideration is just terrifying. I will never use or suggest this company to anyone
View full review
Elisha S Dna
map-marker Richardson, Texas

Horrible

stars-rating-full stars-rating-full stars-rating-full stars-rating-full stars-rating-full
My lender Marlon waited up to the last minute to get my paperwork to the title company and at closing I found out why. His numbers didn't match the final he sent to me the night before (by law it's 3 days prior to send out the final docs). I show up at closing without his presence and the numbers are totally different, morgage payments $600 more and non of the items the lender was to pay were paid. This was a new build so I took the bullet.
View full review
Anonymous

100% unprofessional on all levels of handling your mortgage

I'll be as brief as possible and cover all aspects of my experience with the Knoxville, TN branch of Southwest Funding. To start, they never answered the phone until the very end once it was mentioned. They preferred to correspond through facebook messenger - first warning sign. The only way to get information out of them is to push them to do their job. Message and ask or call and talk to the answering machine so you can get a messenger response. The one phone call that did happen was a 3 way with my realtor where the manager said "I've had a few to drink, maybe you have too" to my realtor when asking about closing costs. ("James, I apologize for any miscommunications however everyone in this company has known me for 5 years and I have never in my life been a drinker to the point I’m the guy they make fun of about it!)" this is the reply about his drinking and calling....or having me call him. 3 days prior to closing, I still did not know if I was cleared to close and when I finally said if I didn't get an answer soon, I was asked to call the Manager who immediately started yelling at me for threatening them (I have this all on emails and messenger while he was trying to apologize after the fact. 3 hours before closing I still did not know the closing cost and when I was finally told, they were more than $1200 above what I was told the maximum they should be. Then when I said I wasn't going to pay that much, the price magically came down to $2273. with a little less than an hour until closing. I am 600 miles from my bank and no bank will issue a certified check if you don't have an account. I ended up going to Walmart and getting cashier's checks to cover closing costs. Next, the title company (of their choosing)sent someone who had not closed before and the person that was to show her how called and couldn't make it. Nothing was explained and the first payment was changed to November 1st from December 1st. which is when I was it would be due up to 3 hours before closing and explained that I don't have to make a payment in November so the extra at closing should be no problem (except that my bank is 600 miles away)
View full review
Takeyisha B

Unethical practices

stars-rating-full stars-rating-full stars-rating-full stars-rating-full stars-rating-full

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.

View full review
Winton Dhw

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

***

stars-rating-full stars-rating-full stars-rating-full stars-rating-full stars-rating-full
Updated by user Oct 17, 2018

Not Military or Veteran friendly. Completely disregarded military clause protections.

Updated by user Oct 17, 2018

This is still unresolved.

Original review Sep 17, 2018
Home sold to us was way over appraised was not as stated in the appraisal, has no water access, drug users vandalized when I was deployed. Property is uninhabitable. I made payments on home and Southwest sold the loan to both OCWEN and GMAC who both then began billing and returning payments saying first we owed one then the other. They then began applying payments to escrow and saying we were behind on monthly payments. They couldnt track payments that were posted from our bank. We requested a deed in lieu procedure or a short sale or a restructure, after we had our house reassessed and were told it was not adobe but frame with fake adobe pasting. That the yard could not be watered at all and the community water keeper decided to no longer run a well for the homes on the community well. No one ever had a real answer. This was in 2007. We gave up and decided it was not worth the fight, especially considering that it was constantly vandalized by local drug addicts. Now in 2018 I have just received a judicial foreclosure summons.
View full review
Loss:
$250000
Cons:
  • Dishonesty
Reason of review:
Bad quality

Preferred solution: Full waiver of loan and bank can have with NO punitive action towards us.

2 comments
Guest

Did you do anything about it

Winton Dhw
reply icon Replying to comment of Guest-1579194

Yes we attempted multiple ways to resolve the issue without any response. They resold the loan and it was purchased over and over by debt collectors.

View more comments (1)
Anonymous

The Memphis Office

Southwest Funding - 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.

View full review
Reason of review:
Good customer service
l c Tyj
map-marker Dallas, Texas

Great people

just to start, I'm going through divorce and have credit score round 587. I talked with 2 other companies and no 620 score and I got call us when you get that score up. don't know how it happened but I got in contact with STEPHANIE and she said I got you. it felt like family. "we work with people in those situations" and there she went to work. in a real short time things were handled. with the help of MARTY. the only thing bad was Marty is an Alabama fan lol. I thank them so much for working with me so quickly and professionally. I give them a 5 out of 5. I'm now cashed out refinanced and bills paid and just waiting on credit score to increase.
View full review
Reason of review:
Good customer service
2 comments
Guest

No information about where

Aishwarya Vbk
reply icon Replying to comment of Guest-1641892

Hello, I know it's been awhile, but I'm Stephanie. :) I am happy to help you, or anyone else, in anyway I can.

I work in the Dallas office but help people all over Texas and in several other states as well. Feel free to reach out to me if you ever have any questions - scypert@***.com or 469-428-****.

View more comments (1)
Todd C Ndl
map-marker Knoxville, Tennessee

Slow, unorganized - unprofessional/ RUDE

stars-rating-full stars-rating-full stars-rating-full stars-rating-full stars-rating-full
I was lucky enough to see the chaos early on in my process. Overall Donald was unprofessional and misleading. Information offered was ok, but follow through was lacking. We were informed thst we were eligible and to get our docs together for submission. We were told we would get a list of docs specifically needed for our loan, credit, situation, etc. the list received was generic and most didn’t pertain to us. We were told use the email address provided... it wasnt even complete. Missing half of the email name. Then after that Debo Kyle, a key doc that goes with every mortgage pack was not ever offered. The Authorization signature page for our verification of employment was the “one” thing we supposedly needed to get the preapproval we were promised. This wasn’t even provided until we had already been delayed. To the tee income docs verifying to the penny, but more less insisted we must not be telling the truth, even though w-2and check subs both verified more than stated (covering above base W-2 salary. We were hung from looking at houses. Realtor, was doubting we were sincere due to being put off so many times. Coming from a several year background in mortgages and Morthage Brokerage, avoid this service. Clueless and unorganized. I love when the opening conversation has a arrogant know it all schooling me on how important him knowing what the initials “VOE” stood for was and how he’ll often use big words and confusing initials such as “VOE”. This followed by cursing and failed promises. Ehhhh Home buying is stressful enough- go elsewhere. These guys charge too much money ( yes you pay for it) to not provide anything but honesty and prompt excellent service !!!! One of these things may slide, but c’mon. We as consumers need to take control back and never ever accept less than premium customer service. I contacted them one last time to make sure I knew how my personal info would be protected and the real “him” surfaced. Hateful and RUDE. So good luck trusting them with your social and other delicate personal info.
View full review
Philip C Tkh

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.

View full review
Reason of review:
Poor customer service
Miranda Arz

Amazing

stars-rating-full stars-rating-full stars-rating-full stars-rating-full stars-rating-full
Southwest funding has an amazing group of team members at the Dallas location. Jeff Schraeder was our loan officer, that man busted his butt to get us our house! We didn’t think we would qualify for a home loan due to our credit being pretty bad. Jeff worked his butt off to get us approved and finally closed on our dream home. Thank you southwest funding but most of all Jeff Schraeder and Leo Aguiar!
View full review
Reason of review:
Good customer service
Anonymous

Do not use them

stars-rating-full stars-rating-full stars-rating-full stars-rating-full stars-rating-full
Not professional, did not know closing amount until day of closing, did not tell me of any payments needed until the actual day it was needed. Argued over Facebook messenger, made me feel like I was a burden.. very rude. My realtor said never again would use this lender.. person selling house almost didn’t sell me the house because of the lender.
View full review
Anonymous

BAD!!!

They ran my credit, gave me a approval letter based on income etc. I signed a contract on a house. Now they say I am not approved after sending in all of my stuff and waiting almost 2 mo. Here 17 days before closing... don’t know what I am gonna do now. Do not trust these people all they have done is lie to me.
View full review
Reason of review:
Order processing issue

About

Summary

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 reviews and complaints

Southwest Funding is ranked 70 out of 1015 in Loans and Mortgages category

Area Served

USA

Payment Methods

Why Trust Reviews on PissedConsumer?

  • Professional auto and live moderation
  • 100% user-generated content
  • Equal opportunity and protection
  • Zero tolerance for fake reviews
  • Verified content
  • PissedConsumer is on the Inc. 5000 list

For more information read Blog article