Citizens Bank

Reviews

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  This review is specific for the mortgage department of Citizens bank in Birmingham, MI, not the bankers. I worked with a Jennifer Yono on obtaining a home loan to purchase a home. I spent hours organizing my info and sending it over, along with many phone calls to make sure all checked out and I was ready. I own a small business in Royal Oak with a modest income and was more than ready to purchase a home financially. She reviewed my information and called me back the same day with a modest loan amount for $76,500. I felt that was very workable and happy to get started. She sent me my pre-approval letter and I contacted my realtor to get started- eager and excited! My realtor contacts the lender as well to make sure we are all set, she says 'yes they are good to go'. We (my partner and I) find a house we love, we put in an offer, the seller accepts and we sign a contract. Yeah!! The sellers realtors contacts the lender before accepting the offer to make sure we are legit. Lender says 'yes they are good to go'. So we're off and planning!! The inspector is lined up for a few days out, we give notice to our landlord to get out of our lease with no problems. I call the lender and ask her when the appraisal is done. She informs me after the inspection and also tells me the appraisal has gone up $30 since we last spoke, which was yesterday. I say 'o.k, that's weird, but not a deal breaker at all'! Here's where our dreams were smashed like a grape!! She then tells me underwriting was being VERY conservative and wouldn't loan us more than $61,000. I say 'what???". Then she says 'well it looks like they are not willing to go over $60,000.' Which is it?! 60,000 or 61,000? Isn't this information that you should have gotten upfront before contacting us?!! My realtor calls the lender immediately and says this needs to get straightened out!! There is a contract signed! The lender says I will make it my priority to figure this out and find a solution. I receive a call shortly after now telling me my entire loan was tossed out like trash. Now I'm high risk owning a small business and they will not offer me a loan. My mouth drops and I am furious!!! I ask her how this could happen and how completely unprofessional this is!? She lets out a nervous giggle and tells me she's only been at Citizens bank for a month and is new to mortgages and made a mistake. What!!!!! Citizens allowed a new incompetent person to handle a small business loan & did not look over her work!? I tried to contact her manager about 10 times over two days via cell and business line and he does not answer at all. No surprise there! The damage is done! This lender has completely crushed our hopes and dreams of buying a home & I really hope she does not do this to someone else!!! After talking with a couple of brokers and two relators, they all say I have never heard of this happening to someone. Too bad it did and that someone was my partner and I!!
  By eve sandoval, February 19, 2018

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