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absolute mortgage company / deceiving pratice

350 E Market St., West Chester, PA, US Review updated:
Contact information:
Phone: 888-90-Homes

The so called company is out there to cost your money and headache. Three months "working" on the loan, it was never closed, but to be terminated. Would you ever get the rate you wanted in first place? No. They will only cost you big time. Another scaming company, be careful and stay away from them.

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Comments

  • Ew
      Aug 21, 2009

    I had a very similar experience. Paid $400 in appraisal fee in May and locked interest rate, waited for three months only to be told that the lender had stopped lending. The company is an absolute waste of time and money.

    Displeased customer,

    TN, USA.

    -1 Votes
  • Ch
      Sep 14, 2009

    I worked with Absolute Mortgage co for over 6 years as an underwriter for Taylor, Bean & Whitaker Co. We closed at least 75 loans a month for them on time and at the rates quoted, or better. In my position I had a choice of over 100 brokers to refer my family to and always chose Absolute because of their consistant quality of service and value. TBW closed operations 9/5/09 in the space of 2 days with no warning signs that even we employees saw. This should in no way reflect on the ability or integrity of Absolute Mortgage. They were as much of a victim as you were of circustances out of their control. Do not base your opinion of this fine company on this on small period of time.

    +2 Votes
  • An
      Feb 19, 2013

    I have been dealing with Absolute Mortgage Company on a refi of my condo since August 2012 (6 months!) and it has been nothing but a series of broken promises, delays, changes in requirements and I place most of the blame on my loan processor's incompetence and his poor understanding of my property location and the lender's requirements. My LP (loan processor) selected a lender in August, and after I paid for the appraisal, a 3 month long battle ensued with the lender who had all sorts of absurd requests, many of which involved my condo association and all of which were satisfied with documentation. The requests continued on and on until in Nov 2012 my LP finally said let's select move on to another lender, one with which the LP assured me he had great experience with and would be no more than a 2 or 3 week process to close. Of course another appraisal and fee was required, but I was promised a refund of 1 appraisal fee at closing. Foolishly I was convinced Absolute would come through the second time (shame on me). They charged my credit card for the second appraisal without my authorization to which I wasn't aware until I noticed the charge on my bill (they just used CC info collected from first appraisal). And so the antics continued from November to February 2013 with the second lender, no better than the first. In January they required I pick up flood insurance and pay for it up front. Finally in Feb I was presented with Final Figures form for closing, and the numbers were nowhere near what was shown on the "Good Faith" (ha!) Estimate that I received in December! In fact over $5, 000 worth of credits had been slashed off the figures. The deal is so much worse now that it is no longer financially beneficial to go through with. So here I am 6 months later, mentally exhausted, $800 lost to appraisal fees, $1, 300 in flood insurance costs which I will need to file for cancellation and refund, and watching my refi which was originally locked at an excellent rate to go completely down the tubes. Take my advice, STAY AWAY FROM ABSOLUTE MORTGAGE!

    -1 Votes
  • Fu
      May 21, 2013

    i use to work in the industry. i am looking for a mortgage and found them online. reading your complaint is all just industry guidelines. nothing you mention is in the control of the broker. sounds more like you are just an angry person.

    +1 Votes

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