The approval process was lengthy but I was happy with the rates received. However, it's already been 3 weeks since the approval (waiting for 10 day payoff process) and the estimate is that the pending payoff will take an additional 45-60 days. This is quite unacceptable because every day that goes by with my student loans at the prior servicer, it's costing me more money. I would not have used this service and would have taken a different loan from another company if I knew that the process would take this long. Further, if you're going to have terrible product service, at least have good customer service to keep your customers happy. The representative on the phone was extremely rude and condescending, at one point even mocking me when I asked if Earnest would allow customers to update the 10 day payoff amount when the payoff period approached (in 45-60 days), so it could reflect the true amount of the loan at the time. He said that Earnest is extremely busy and does not have the time to just call customers to update their amounts. I will likely take my business elsewhere, where it is approached.
First off, it took 1.5 months to fund my loan due to their finance department being backed up. Secondly, this company does not have the "capabilites" to apply additional payments to the principal portion. Some servicers make you allocate but this servicer doesn't even allow you to. I have found no help from customer service.