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Business Profile

Mortgage Banker

Watermark Home Loans
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BBB Accredited BusinessA+Rated by BBB

Reviews

Customer Review Ratings

1

Average of 3 Customer Reviews

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Review Details

  • Bao N

    Date: 05/17/2024

    I requested a Loan Estimate from *********************** which I was able to get the same day but when he found out that I was also requesting Loan Estimates from other lenders this is what he had to say, "If? ?you? ?are? ?getting? ?5? ?to? ?6? ?go? ?with? ?another? ?lender". Thanks for the feedback *****, I definitely will and will share my experience as well.

  • SATISH K

    Date: 04/04/2024

    I made a refinance and its was ridiculous. was promised $0 out of pocket, ending up changing my interest rate to 0.5 more. Delaying the close date & costing me more. I will never use them again.

  • Tiffany C

    Date: 11/08/2023

    I am writing regarding the loan approval process for the new construction property known as Daybreak ******** in ********, ** *****, for which my wife and I were in escrow to purchase. Our recent interactions and the representations made by Watermark Loans have caused significant distress and financial hardship for us.Watermark Loans provided us with written confirmation that our loan application had been approved using the rental income generated from our rental property. Relying on this representation, we proceeded to sign a lease agreement with tenants who are scheduled to move into our current residence. This lease agreement binds us to vacate the property, making us dependent on the approval of the loan using the rental income as a crucial factor.In reliance on this representation made by ******************* at Watermark Loans, we proceeded with confidence and entered into a 12-month lease agreement for our current home. According to the terms of this agreement, we were legally obligated to turn over our property to our tenants. We made this commitment based on ****'s assurance that Watermark Loans would consider our rental income in qualifying us for the loan.However, to our great surprise, we learned that Watermark Loans refused to approve our loan for the Daybreak property. Their underwriter refused to acknowledge the rental income we would be making from our current residence. We were in breach of the lease agreement with our tenants, forcing us to move out without a suitable place to live. It also left us in a situation of searching for temporary rental accommodations while we attempt to secure a loan or find another property to purchase.

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