Let the buyer beware: I purchased a home loan with Supreme Lending in August of 2016. When we closed, the seller provided tax credits based off of 2016's estimated numbers which were about $2700.00 more than 2015's.
On the closing paperwork, My house payment and Escrow were set off of 2015's numbers by Supreme Lending -- something I am told by Tony Tylman of Supreme Lending they are legally bound to do. However, NOWHERE in the process did ANYONE at Supreme Lending alert us to the fact that we would have a $6000 deficit the next year due to the taxes. The closing disclosure is something that passes between the title company and the lender. If the lender is looking out for you, then why wouldn't they draw attention to this issue?
In my case, Unless I can some up with the shortage, my payment will increase over 20% to cover the escrow. Or if I come up with the cash to cover the shortage, my payment still rises 7-8%. Why couldn't they let me know this last year? I could have been told to set the money aside and, even though my payment stated one amount, I need to budget and be prepared for a higher payment in the following years.
This was a mistake that Tony has admitted his people made, but the best he will do for me is to tell me to go to PennyMac, (who they immediately sold my mortgage to), and request to stretch the payback of escrow to 60 months, instead of 12. This is unacceptable. I'm a salesman, and if someone makes a mistake like this with our company, we make it right. Is Supreme Lending bound legally to help?
No. But ethically, I believe they are.
Let the buyer beware. Based on my personal experience, this is not an agency/company that looks out for their consumer.
Review about: Supreme Lending Home Loan.
Reason of review: Poor customer service.
Monetary Loss: $6000.
Preferred solution: Full refund.
I didn't like: Bad customer service.