Review and analysis of over 7 complaints against Bank of the West
Bank of the West consumers have reported over 7 official complaints related to Settlement process and costs. Out of the 7 consumer complaints against Bank of the West, 43% were disputed by the consumer (i.e. the consumer was not happy with how Bank of the West responded to their complaint) and 100% were processed in a timely manner. 14% of consumer complaints against Bank of the West resulted in the consumer receiving monetary compensation (e.g. money, cash reimbursement, etc.) and 0% resulted in non-monetary compensation.
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Bank of the West Mortgage settlement process and costs March 21, 2017 - I signed disclosures and locked in a 60 day rate with Bank of the West on -/-/2017. I received a revised loan estimate on -/-/2017 saying " pricing changes upon underwriter review - non QM loan '' which added $3800.00 or .5 % discount points to our loan. However, the sales price has been the same since I opened escrow on -/-/2017. Prior to this incident, I kept receiving disclosures in the mail with high discount points which did n't match the advertised rates for the day. I also wondered why other banks were able to do edisclosures but this bank was the only one that sent disclosures ... |
Bank of the West Mortgage settlement process and costs January 6, 2017 - We started - loan applications together with Bank of the West. BofW told us the loans would be handled as a package and they required that the loans all close together. In fact - of the loans was for our primary residence which required a 72hr rescission/hold so the funds for the other - loans were not available. The loan process was extended multiple times due to - appraisal and other 3rd party delays, yet BofW at - point decided to charge us roughly $1500.00 in rate extension fees, but only on - loan. The delays were compounded by poor communication and organization on th... |
Bank of the West Mortgage settlement process and costs November 2, 2015 - My wife and I applied for a HARP loan with Bank of the West and fraudulently misled on the terms of the loan. On the application, we specifically stated that we did not want an escrow/impound account imposed on the loan. During processing, Bank of the West changed our selection by adding an escrow/impound account without informing us. While we were at the title company to sign the loan documents, we discovered that contrary to our requirements, the loan provided for the imposition of an escrow/impound account. We immediately refused to sign the loan documents. The notary then called the loan... |
Bank of the West Mortgage settlement process and costs October 21, 2015 - I initiated a home loan in - 2015 with a closing date of - -, 2015 with Bank of the West. The first closing date was extended due to the Appraisal department of Bank of the West accepting a turn in date for the documents two days before closing. The next closing date was cancelled and the loan objected because they were unable obtain Mortgage Insurance for not providing sufficient comparable properties. I have listed the following issues I have experienced below : - Our loan processor rarely called or emailed us to keep us in the loop of our loan. I was rarely successful in contacting... |