Review and analysis of over 3 Conventional Adjustable Mortgage (Arm) complaints against Bank of the West
Bank of the West consumers have reported over 3 official complaints related to Conventional adjustable mortgage (ARM). Out of the 3 consumer complaints against Bank of the West, 33% 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. 33% 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 application, originator, mortgage broker December 2, 2016 - My husband and I applied for a jumbo mortgage with Bank of the West. We worked closely with the mortgage loan officer over a period of five months ( -/-/- - -/-/2016 ) discussing our options. After Bank of the West reviewed our file, the mortgage loan officer told us that we were not approved for a jumbo mortgage, but that we would be able to procure a smaller ( $470000.00 ) mortgage AND an additional $300000.00 line of credit in lieu of the jumbo mortgage. She reassured us over and over that this product combination would work for us and that we would close on the line of credit wi... |