Barclay Butler Financial
reviews and complaints

Barclay Butler is a broker who pretends to be a direct lender. Buyers are made to believe the yield spread premium on the good faith estimate is a fee paid to Barclay Butler for selling the loan that Barlcay Butler originated and is providing the funding for which is false. Barclay Butler is basically just an agent who gets a commission from real lenders as a finders fee. They disclose buyers personal information to everyone which includes their income, credit score, and the reasons they were denied by previous lenders.

Buyers beware! This is one of the most unethical and dishonest companies you could ever do business with. Don't just believe my review though, do your own research and pull up this company online, and you will find everything from allegations from former employees of sexual deviancy that involved employees, the owner, Barclay Butler, and his wife, Judy, at their home in Crystal Lake, IL to fines levied by the Illinois Department of Financial and Professional Regulation for not having properly licensed loan originators and failing to register them timely. As a disclaimer I will state I was the seller of a property being purchased by one of Barclay Butlers customers, and they tried to ban me from calling in to find out about the loan for MY house by saying I was harassing them by calling in so many times which is illegal since you have a right to request updates on the sale of YOUR house. Funny thing is I was never rude, disrespectful, and never even used inappropriate language. It just seemed like they were mad I was asking too many questions that may have prevented them from making the most money off the buyers since Barclay Butler Financial is not a lender, they are just a middle-man. The same day they tried to ban me from calling in I contacted an attorney who stated Barclay Butler was wrong and my contract allows me to call in all I want and to continue doing so. I only continued to call because no one ever answered the phones or replied to emails FOR DAYS (Buyers said it was the same thing for them), and when I eventually got a hold of Victoria she would always say, "I just got in the office two or three hours ago and I'm not sure and I haven't looked yet." It's always a red flag when someone isn't ready for work once they've clocked in, but that may just be a disagreement regarding work ethic. The worst part of all of this was the buyers and their agent were just as upset as we were about this entire process even saying, "We do everything they ask, and we get it all done the same day, but then they ignore us for days! They're constantly changing the conditions of the loan and what they want from us! There's a complete lack of transparency." They even stated Barclay Butler was a downright liar and I shouldn't believe a word he says, and they always submitted everything Barclay asked for the same day when he was telling me it was all their fault, and they were constantly late and unresponsive. They even illegally disclosed the buyers income, credit score, and reasons for previous loan denials to me without the buyers consent, and neglected to fully explain to them what the yield spread premium was going to be. The buyers didn't even know what a yield spread premium was. Fraud, fraud, fraud!

Please protect your home, your money, and your family and choose literally anyone else besides Barclay Butler Fraud Financial to work on your mortgage.

State of illinois
Department of financial and professional regulation
Division of banking

In the matter of:))
Barclay Butler President of Barclay Butler Financial
Barclay butler financial, inc.)
ATTN: Barclay Butler)
1051 East Main Street, Suite 219)
East Dundee, IL 60118)
License No. MB.0005290)

Order assessing fine
The department of financial and professional regulation, division of banking
(the “Department”), has reviewed and examined the activities of Barclay Butler Financial, Inc., (the “Licensee”) and has found violations under the Residential Mortgage License Act of 1987 (the “Act”)[205 ILCS 635] and the rules promulgated under the Act (the “Rules”) [38 Ill. Adm. Code 1050], hereby issues this ORDER pursuant to the authority provided under Section 4-5 (h) (5) of the Act. The Department makes the following:
FINDINGS
1. That Barclay Butler Financial, Inc. is an Illinois residential mortgage licensee holding license number MB.0005290 (the “License”) and located at 1051 East Main Street, Suite 219, East Dundee, Illinois, 60118;
2. That the Department conducted an examination of Licensee for the period 7/1/2005 to 7/31/2008 and cited Licensee in the Report of Examination (the “ROE”) for violations of the Act and Rules;
3. That one of the violations cited in the ROE for enforcement, namely, that Licensee permitted loan originator Mark Settle, who had not timely renewed his registration and was in expired status, to take a loan application on 7/28/2008, had been assigned to the Department’s Supervision Section;
4. That the Licensee was assigned to the Department’s Supervision Section Supervision and that in July 12, 2016, Supervision Section created an enforcement issue for Licensee due to failure to ensure that its loan originator Mark Settle, had properly registered and renewed according the Act and Rules;
5. That a Potential Disciplinary Letter was sent to Licensee on August 11, 2016, via U. S. first-class and certified mail service; 2
6. That on August 16, 2016, a signed receipt card evidencing receipt of such delivery was received by the Department; and
7. That the Department has not received a written response from the Licensee, and that Licensee has failed to comply with the Act and Rules.
Conclusions based upon the above findings, the department is of the opinion and concludes:
That notwithstanding notices and other efforts by the Department, Licensee is in violation of Sections 2-4 (z) and 7-1 of the Act and Section 1050.2125 (b) of the Rules; and is in further violation of Sections 4-5 (i) (11), and (17) of the Act.
Order now therefore it is ordered:
1. That barclay butler financial, inc. License No. MB.0005290, shall be and hereby is assessed a fine in the amount of $500.00;
2. The fine in the amount of $500.00 shall be due thirty (30) days after the effective date of this Order upon Barclay butler financial, inc; and
3. The fine in the amount of $500.00 shall be paid by means of a certified check or money order made payable to the:
Department of Financial and Professional Regulation Division of Banking
ATTN: FISCAL DIVISION
320 West Washington, 6th Floor
Springfield, IL 62786
ORDERED THIS 26TH DAY OF SEPTEMBER, 2016
ILLINOIS DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION
You are hereby notified that this Order is an administrative decision. Pursuant to 205 ILCS
635/4-12 and 38 Ill. Adm. Code 1050.1510 et seq. any party may file a request for a hearing on an administrative decision. The request for a hearing, and hearing fee pursuant to 38 Ill. Adm. Code 1050.210 (f), shall be filed within 10 days after the receipt of an administrative decision and, if so
requested, a hearing shall be held on the administrative decision, by the Department of Financial and Professional Regulation, Division of Banking. Absent a request for a hearing, this Order shall constitute a final administrative Order subject to the Administrative Review Law [735 ILCS 5/3

I strongly urge you not to do business with Barclay Butler and Barclay Butler Financial. Please Google Barclay Butler Financial and Barclay Butler mortgage broker. You will find tons of complaints against Barclay Butler Financial and especially on [redacted] and other consumer advocacy websites.

Barclay Butler Financial is a mortgage broker shop but pretends to be a direct lender. My father Jerry used to work for Barclay Butler and Barclay Butler Financial in East Dundee Illinois and he was told to tell borrowers that the yield spread on the Good Faith Estimate was a fee that Fannie Mae and Freddie Mac paid Barclay Butler Financial for selling the loan that Barclay Butler Financial originated and funded. However, Barclay Butler is nothing more than a broker who gets a commission from real lenders as a finders fee called yield spread premium and by no means are they close being a lender. Beware of Barclay Butler and his scams.

John E. Neal II
Vice President of Lending
Guaranteed Rate