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AbsoluteMortgageCo.com / Failed to deliver on Mortgage rate

1 West Chester, PA, United States Review updated:
Contact information:
Phone: 1610 436 0500

In September I locked in a rate, which other lenders were offering at the time also. Absolute Mortgage took my money and I had a lock on the rate, and then ultimately because of their incompetent team failed to complete the loan. Long story short, they lost documents, failed to pull all necessary documents together for the lender, and ultimately ended up missing the rate lock. They then called me and asked for money (points) to extend the rate lock, even after admiting that it was their mistake. Their management said "I recognize that this was our fault, but we are not going to lose money". So basically I was stuck, lost my opportuntity to remortgage because rates had climbed over .5 a point and would not stand behind their mistake. If you are thinking of using them I would think twice because they are not worth taking the chance, you could potentially losing the rate like I did. They are incompetent and will not stand behind their promises/product.

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Comments

  • Mg
      1st of Mar, 2011
    0 Votes

    Sir I am sorry to hear that you had a bad experience and assure you that this type of thing is rare and surprising to hear considering the Billions of closed loans Absolute Mortgage has closed.

  • Ro
      17th of Nov, 2011
    0 Votes

    I'm currently (9-21-2011) processing a refinance mortgage through Absolute Mortgage and we now have ran through our 45 day rate lock. All documents have been in hand for 3 weeks +, credit score 799 on a $171, 000 mortgage with a verified income of $180, 00+. Communication as been poor. I requested a rate lock extension that has yet to be confirmed (10 days past due) and daily requests for status have yielded a lack of "progress". Emails to site manager have gone unanswered. I've received 2 weeks worth of "we are working on it", this is not progress. I'm not aware of any issue to hold up the process (I've repeatedly asked if something is missing...what do you need?). I would not use Absolute Mortgage for any future refinancing.

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