Bank of the West Bank Account Or Service Complaint

Other bank product/service Account opening, closing, or management

Bank of the West Bank account or service department,

Other bank product/service Account opening, closing, or management California

I applied for a condo mortgage for a vacation property at Bank of the West through a loan broker named - in their -, CA office ( - ). He assured me he had gotten loans approved at the exact same complex very recently. The condo association lists itself as a " condo hotel '' association rather than a vacation condo complex, and I had already had a loan fall through at a normal residential property rate with a different lender, because the " condo hotel '' association was viewed as a rental property rather than a vacation property, I insisted with - that I would not spend money on another ( second ) home appraisal unless I had his assurance that I would get the loan, barring any issues unrelated to its being a condo hotel. He assured me he had just gotten a loan approved at the complex, and it should be no problem. He locked my rate at a very attractive rate ( 4.25 % ) based on my opening up - bank accounts with Bank of the West, and I went ahead with the appraisal based on his assurance that I would get the loan. Bank of the West charged me $650.00 for the appraisal, and at the end of the loan review process, the bank denied the loan for the exact same reason - that it was a condo hotel association, and they were treating it as a rental property rather than a vacation home. Understandably unhappy with - for leading me on and costing me $650.00 for nothing, I insisted he make it right and refund my money, but he did not. They cheated me out of $650.00 and kept me from purchasing my vacation home.

Bank of the West customer in California
Mar 22, 2017

* Source: CFPB Complaint Database

Bank of the West response to complaint:
Closed with monetary relief

Created with Highcharts 4.2.3Bank of the WestComplaint HistoryComplaints3/20124/20125/20126/20127/20128/20129/201210/201211/201212/20121/20132/20133/20134/20135/20136/20137/20138/20139/201310/201311/201312/20131/20142/20143/20144/20145/20146/20147/20148/20149/201410/201411/201412/20141/20152/20153/20154/20155/20156/20157/20158/201510/20151/20165/20167/20168/20169/201610/201612/20161/20172/20173/20170246810Source: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3Bank of the WestAccount opening, closing, or management64.6%19.7%7.9%1.7%6.2%Closed with explanationClosed with monetary reliefClosed with non-monetary reliefClosed with reliefClosed without reliefSource: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3National AverageAccount opening, closing, or management0.1%8.6%3.3%1.8%3.7%15.8%66.2%0.6%Untimely responseClosed with non-monetary reliefClosed without reliefClosed with reliefClosedClosed with monetary reliefClosed with explanationIn progressSource: Consumer Financial Protection Bureau

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