When I first got started with the (newly required) mortgage pre-qualification process, USAA referred me to MFHL because my credit score was 4 points under what USAA could approve. A little history, my wife and I have spent the last 9 years cleaning our credit reports to even get that far so I was certainly OK with the referral. The loan officer that I got was Tyler Hendricks and he helped me get started with the mortgage process as a whole. He also stretched the truth and, in at least one instance, completely fabricated parts of how the whole process worked, what I needed to do, timelines, etc. The pre-qualification process took so long that I had to get another company to give the pre-qual so I could go look at houses!
We found the house that we wanted the first day we went looking. We thought and talked it over for two days and then made an offer thinking that if MFHL (offering a VA loan) didn't work out, we would go through the other company (offering a FHA loan). Tyler and I were in constant contact (at least one call every other day) getting all the initial paperwork in. This part was frustrating as *** because it seemed as if MFHL didn't look at the purchase offer, were asking for irrelevant things, etc. I did my own research and found out that what they were asking for was actually normal and to expect some other things so I got much of that ready. One day, a loan PROCESSOR (not to be confused with a loan officer) named Justin called me and requested all the stuff I had ready and then some. In the middle of getting the requested paperwork in, I was transferred to another processor named Dan Glissman. As if I wasn't already frustrated enough.
Dan actually turned out to be a pretty easy guy to work with. And trust me, I called poor Mr. Glissman every, single day. Dan worked as the middle man between myself and the underwriter, which was really frustrating because in my mind, it is easier just to go to the source. But after research, I learned that all companies do that.
One week before we were supposed to close, we did not have an approval. Now, as you may know, a VA loan, after approval, requires three more approvals (one of the underwriter, one of their decision, and one from the VA itself) which all take time that I didn't have. A side note, most of the reviews stated that months after the original closing date, people were still waiting for a decision. So, my calls to Dan increased in an effort to do anything at all to actually close. After almost 10 years of waiting to buy a house, I was not letting this opportunity slip away.
The Friday prior to my Monday afternoon closing date, 4pm came and went with no approval. I actually had to call the toll-free number (Dan had left for the day) to find out that the underwriter approved it. It was tight, the VA gave their approval 1 hour prior, but we closed on time. I have owned my new house for almost a month now and I am really pleased with MFHL, despite the pitfalls and tribulations along the way.
My advice: no matter who you go through for a mortgage, remember that you are not the only client. If you do not call every single day and submit every single thing with a signature and date, you will miss your closing date!
Review about: Mortgage Loan.