ComplaintsforCivic Financial Services, LLC

• Initial Complaint

  06/14/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I engaged the services of a mortgage lender to refinance a property that is owned in an LLC. I paid deposits and for appraisals from 3rd party appraisers at their request. They denied me days before we were supposed to close and gave me no reason other than the other owner (partner) applied 6 months earlier and they denied him right away saying it was too rural. I understand that but the address didn't change and it all could have been avoided if they did not lead me on. collect funds for services they had no intention of performing and wasting my time.

  Business response

  08/23/2024

  CIVIC always strives for customer satisfaction in every interaction. Generally, we fund very few rural properties for fix and flip or ground up projects unless the profit is very strong and the deal makes sense holistically in a comprehensive underwrite. This was communicated to the customer early on.

   Unfortunately, the appraiser wasn't able to access the property and the appraisal report was delayed. When the independent appraisal did come back, the After Rehab Value (ARV) was much lower than the customer expected. The property was a mid-stream construction project, and there were ownership complications that weren't known to CIVIC at the time of the loan's submission. All of these factors together are why the deal was ultimately declined.

  We aim for a customer experience of openness, honesty, and fairness. While the reason for the delayed appraisal was out of our control, it was delayed. In an effort to make things right, and as a show of good faith, we've gone ahead and refunded the full appraisal fee of $750 back to the customer. It is unclear why the sought after resolution on the part of the customer is significantly more than that.

• Initial Complaint

  03/24/2023

  Complaint Type:

  Product Issues

  Status:

  Unanswered

  More info

  Around mid-December 2022 I contacted Civic financial for a refinance of one of my investment properties, *************************************************. I paid the appraiser fee and everything was proceeding forward. I kept following up asking about closing date and I kept being told Jan 31, 2023, or sooner. On Jan 30, I was told they will not be able to service my loan. No explanation was given. Just, change in the bank direction. I was informed I would be refunded the appraisal fee. As of now I still have not received that refund, and Ive called them several times, my phone calls go unanswered. I have called the number on their website, and no matter what option I choose, it rings several times, then goes to a voicemail. Ive left several messages. No call back.

• Initial Complaint

  12/07/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Unanswered

  More info

  see Attached document Click here to Get the File - use the Password: DA43DC41 ************************************************************************

• Initial Complaint

  11/03/2022

  Complaint Type:

  Order Issues

  Status:

  Unanswered

  More info

  Hello, I contacted the company august 26, 2022 about a rental property loan. All was good and they requested documents which I provided in less then 72 hours in full. I week went by and they requested more docs which again I replied in less then 48 hours. I continue to remind them that I already summited everything and needed it done In a timely manner because it would effect my other projects. I was delayed over and over again being reassured that everything was going perfect. My appraisal was expiring and i kept making a point that I did not want to lose that money and if they couldn't do it I would just move on. After 2 months of this my appraisal expired and my project that I was going to use the funds for expired and I lost my ****** non-refundable deposit. Overall still no real sign of progress. They sent me a email stating my loan was in underwriting but that was a total lie. More lies them I've ever dealt with. Now rates are higher, and home values have gone down... meaning I will be paying a higher rate when I get a new lender, plus my home value will not show as well because I will have to pay for another appraisal. Very very upset on why they just didn't say they couldn't do it and let me move on them when I first made contact. November 2 and still no response but it's being worked on. They ran my credit and now I have to re-run again which I was already dealing with inquires from other lenders and did not want to add another one

• Initial Complaint

  09/07/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Unanswered

  More info

  On April 25th I started working with **** ********* who is a mortgage broker based out of TX I believe. I was looking to do a refinance, and for some specific terms, **** was great in finding what I was looking for and found them through Civic Financial Services, but working w/ Civic has been a nightmare. The beginning of the process started out relatively normal, terms sheets, appraisals, info on the properties, etc. There were a few delays in getting the appraisal but at that point, I wasn't yet concerned because Civic wasn't going to change the rates I had locked in. The lead account executive I am working w/ at Civic is ******** ***** at first, he was responsive. however, fast forward we are now, ************* day's into this refinance, which normally should only take 30-45 days tops. I still have no refinance payout, no closing date, or documents for closing. The response I have been getting over and over again is "it's being worked on it" and that they took on more business than they could handle, (which is not my problem). Multiple time's now I've had********** on the phone and he brings up issues that were addressed at the very beginning of the process that 3 months into the process are being brought up as an issue that is delaying the closing. For example, yesterday's excuse was the properties are in a no go zone but we're getting an ********** They had the addresses of the properties from Day 1, there is no reason, 100 days into the process the location should at this point be a factor. As of Friday, Sept 2nd, ******** claimed on a phone call this would be closed this week, it's now Wed, Sept 7th and I have no proof of these deals being closed. Now, ******** is no longer responding to texts or emails. The mortgage rep apparently was able to make contact with someone else in the company who claims they're pushing it through. At this point in the process, *** + days for a refinance is ************ and has caused endless ******** for me.

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