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Business Profile

Mortgage Lenders

Harvard Lending, LLC

This business is NOT BBB Accredited.

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Complaints

Customer Complaints Summary

  • 1 complaint in the last 3 years.
  • 0 complaints closed in the last 12 months.

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Complaint type

  • Initial Complaint

    Date:02/19/2023

    Type:Billing Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I reached out to John Z****** from Harvard Lending LLC on February 6th 2023 to inquire about loan terms for a cash-out refinance on an investment property. He gave me terms the same day and we started the process. Lender requested that I pay via ***** for an underwriting fee and an appraisal in a total mount of $1440. The appraisal, I understood, but the underwriting fee was a bit of an odd ask seeing how that could have been collected upon closing. Regardless, I sent the ***** amount. The next day, John mentioned how the appraiser is not responding so they were going to do an in-house review from their computer and that the appraisal fee of $620 would be reimbursed to me at closing. Prior to closing, lender went silent and I nor the closing attorney could get in contact. The day of closing, lender mentioned he had a mishap in the family and that we would get right back on track. The closing got pushed to the following week and over the weekend, the lender asked me to pay for private mortgage insurance up front. This cost was never mentioned to begin with and doesn't make sense to have since the loan was below the threshold where PMI would be required. He insisted that I pay $6,875 via ***** prior to receiving the full statement that a lender is supposed to provide. The closing attorney also verified that these costs are costs that can be paid out of the loan proceeds. However, the lender was adamant about up front. I did not pay any more money. I'm seeking a refund of my $1440 ***** payment and whatever the maximum fines can be charged against the lender for fraud.

Harvard Lending, LLC is NOT a BBB Accredited Business.

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