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Greenlight Financial Services Mortgage

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Helpful to 9 out of 9 people

This company was terrible to work with. They would never provide me a rate lock and refused to give me any information as to what was taking SO long.  After a month of working on a loan application with them, and no communication from them on the status of my loan, I pursued working with another company who was excellent and fast.  After several weeks, the new company informed me that they were having difficulty communicating with GreenLight to get my file transferred over and no calls were being returned.  I phoned GreenLight to tell them I wanted to close down my file and MIRACULOUSLY my loan coordinator called me to tell me the "good news" that they were now ready to close on my Loan, which I started 4 months prior to them.  I told her, no, I wanted to go with another company, and she got very bitter and angry over it and hung up on me.  Fantastic company. Highly Recommend no one ever bother with them.

Apr 16, 2012 Reply
Helpful to 1 out of 1 people

Which company did you use then?

bbeebee's reply was:    

  Mar 18, 2013

bbeebee(1, 1)

Review by bbeebee

1 Contributions 1 People Helped

Helpful to 1 out of 1 people

bad part is that you have to give them one star !  0 is not an option on this website !!

djhljh's reply was:    

  Aug 27, 2012

djhljh(2, 1)

Review by djhljh

2 Contributions 1 People Helped

NEVER TALK TO THESE PEOPLE - LIARS!!! Helpful to 2 out of 2 people

Somehow they found out I was applying to a company for refi and having problems. They called and said the company had bought them to straighten out their refi's and I should do the refi with them. I followed up and that was not true. (BEWARE OF THIS COMPANY!!!) i WOULD HAVE RATED 0 BUT THE SYSTEM REQUIRED ONE STAR!!

Feb 19, 2014 Reply
Awful Helpful to 2 out of 2 people

I have never seen such an incredible level of incompetence in my life.  We spent an inodinate amount of time resending documents that they lost.  You are an idiot if you use this company.  Docuemtns that were signed at the closing were lost.  We had to resing them and send them.  They were 5 hours late for the closing.  If there was a rating of 0 stars I would give it.  

Nov 05, 2013 Reply
Refinanced FAST but PROBLEMS later Helpful to 2 out of 2 people

I am a Nationstar Mortgage customer and Nationstar owns Greenlight.  They solicited me for a refinance and I started the process.  It was exceptionally smooth and easy.  My processor, Eric was very efficient and responsive and my loan closed in a very short (3 - 4 weeks) time frame and the rate and closing costs were exactly what they promised.  I closed on 9/10/13 and the loan was to be funded on 9/11/2013.

A week after closing I followed up to make sure the old loan had been paid off.  It had NOT.  No word from Nationstar / Greenlight.  Many emails and phone calls yielded one consistent answer "I'm sorry, we will get this taken care of tomorrow."  It has now been a week of "tomorrows" and nothing.  The sales manager and processing managers told me that they had over-extended their lines of credit which are used to fund the mortgages they had closed (warehouse lines) and therefore could not wire the loan proceeds on my now two-week-old refinance until they "sell" some of the closed loans that are committed to their line of credit.  In other words they're out of money!  The sales manager joked that "its a good problem to have - we have more business than we expected!"   Obviously I don't share his enthusiasm.

The old loan has late fees that Nationstar says won't be waived because the loan is late - even though its late because they "ran out of money" to fund the loan that they issued me two weeks ago!  

WHAT A NIGHTMARE!  I would never recommend this company!  I have requested they void the loan closing and refund my escrow deposit.

Sep 23, 2013 Reply

I cannot believe that they actually admited that they were "Out of money" (not in so many words of course). If they cannot manage their accounts to keep up with their business... then why should we expect them to be good at taking care of OUR accounts.

I did not apply to greenlight after reading several reviews (previously) and responses like these just solidify  the fact that I made the right choice.

I am truly sorry for all the issues you have had and hope things get better for your soon.

pgardner18651's reply was:    

  Nov 06, 2013

pgardner18651(4, 2)

Review by pgardner18651

4 Contributions 2 People Helped

Use anyone but Greelight Helpful to 2 out of 2 people

I watched a late night infomercial by Greenlight promising a no cost refi. Being as we were at 5.75% and could drop 2 whole points I said 'Why Not?'

That is when the fun started. In all fairness, we ouwn a subchapter S corporation so the degree od documentation is more than usual. Everytime we thought we had given them everything they needed, they wanted more. Notarized signatures for payments from the corporation, years of bank statements, copies (bith sides) of the checks, credit card and consumer loan statements, 2 years of corporate and personal tax returns. I was assured by our processor that if the lock expired they would extend at no charge. One day I get an email requesting we resign all the e-documents again, but there was a charge for extending it, $485! I protested and they removed the charge, the lock expired again. It got to the point and I was just about to pull the plug. It took over 2 months to get to closing when I was told it would happen in less than 30 days. It seems they are high volume, and not very knowledable. We are supposed to close with the notary tomorrow. If it doesn't happen I will be back. Frustration, miscommunication and more frustration! It shouldn't be this hard!

Jul 16, 2013 Reply
Horrible services!! Helpful to 2 out of 2 people

If there's a negative rating to rate Greenlight, I would choose a -5!  They have the worst customer services ever! The guy I talked to named John, who is impatient and never answer my questions. I asked him about what the website stated as no closing cost. He went on and on about how only those people qualify and i should've read what was on the website. Goodness, that kind of attitude was that. I would never recommend Greenlight to anyone nor for myself! If the first phone call is bad already, how can you still want to use them!!!!

Worst services EVER!!!

Jan 29, 2013 Reply
Don't believe the hype Helpful to 2 out of 2 people

You know the old adage "If it sounds too good to be true...."?  That applies here.  I started off by dealing with someone who was very nice but couldn't keep information straight.  He called me by the wrong name, needed  me to re-state information several times and blamed it on a new computer system.  I then dealt with a processor who was very nasty and whom I hung up on, nearly walking away simply because her attitude was turning me off (and let's not forget the person I mentioned earlier who screwed up simple facts).  When my paperwork was transferred to the closing coordinator, she asked me for documents that i'd already submitted SEVERAL TIMES.  My closing date was set for a week ago yesterday.  At the last minute she called and said it wasn't going to happen because there were a few things that had to be done "on (her) end."  She told me to plan for closing 3 days later or, at most, a week.  They are now a week and a day late.  The notary and I are baffled at this point because we have heard nothing from Greenlight.  I left a message yesterday and got no return call or email. My suspicion is that, judging by the previous reviewers' comments, they will simply go quiet on me and I will never hear from them again.  Stay tuned....

Dec 27, 2012 Reply
My worst financial experience, ever! Helpful to 2 out of 2 people

We applied for a home refinance loan on an investment property back in July 2012. After countless man hours and mounds of paperwork, we were finally approved, told the payout was ordered, and we could stop payment on the current loan. The loan didn't close and we received no communication despite our multiple inquires. A couple months into the process, we were informed they needed more paperwork. And again, we were approved, but nothing happened. This went back and forth for four months without resolution. Meanwhile, they checked our credit 10 times and damaged our excellent score. Greenlight is the worst, disorganized company I have ever worked with.

Dec 02, 2012 Reply
Helpful to 2 out of 2 people

They lied to me during the app process.  We were waiting to pay the $375 appraisal fee until we locked a rate for the re-fi.    After waiting two weeks to find out if the home equity loan would subordinate, Greenlight called after hours on Friday to tell me that the home equity loan required an appraisal in order to subordinate.  I called the credit union that we have our home equity through and they told me that was untrue and they have had the subordination ready since a week ago.  Also they told me they charge $100 for the subordination fee and Greenlight told me it was $250. 

Bottom line:  I won't work with a company that lies.  They lost my business

Aug 20, 2012 Reply
Helpful to 2 out of 2 people

Mr. Senior Vice President

Greenlight Financial Services

Dear Mr. XXXX:

I’m trying disparately to be a new customer of Greenlight.  However – it seems that we have gotten off to a very poor start.  I’m appealing to you for your counsel on whether or not I should put an end to my frustration and go elsewhere with my finance needs?  

Some specifics of my experience thus far:

  • Last Friday I went to your WEB site and submitted a request for information on all the alternatives we have for consideration on a refinance of our primary residence.
    • We received a voice mail response.
    • I returned the call and left a message to call me back.
    • I received a callback from your employee [I lost his name].  He was very helpful and professional.
      • We discussed 3 alternatives in detail.
        • Refinance with money out – conventional.  [Our idea]
        • Refinance with money out – VA.  [His idea]
        • Reverse mortgage with money out.  [His idea]
      • He left the call making two [2] promises to us –
        • He would send a referral to his partners specializing in Reverse Mortgage and a second partner specializing in VA Loans.
        • Both of those people would call us on Monday without fail.

 

  • Monday – Stayed home by the phone all day – NO Call
  • Tuesday - Stayed home by the phone all day – NO Call
  • Wednesday – A/O 1 p.m. - Stayed home by the phone all day – NO Call
    • I received your card in the mail today inviting me to call you “…at 877-681-8424 if I [you] can assist you [me] further.”
      • I called.  The person answering the call sounded like they were seated/working from a “boiler room.”
      • I asked to speak to you and got silence.  They admitted they did not know you at all.  They had to look you up in their directory and found no telephone number listed but they did give me this email address.

Mr. XXXX - I could take the easier path and just give up on you and call Quicken Loans or another one of your more formidable competitors.  But instead – I thought I would at least give you a reasonable opportunity to succeed with me.  At the same time I thought it extremely relevant to demonstrate to you that your existing customers and your prospects really do have a life to live, responsibilities to be elsewhere and promises of their own to keep. 

  • My point being that when you promise to call – your customers put their life on-hold, anticipating that you will keep your promise[s].
    • When promises are not kept – a snowball effect takes place and every day those promises continue to be broken puts your customers at an extreme disadvantage because they now have to juggle their own business to compensate for your poor service commitments.
  • The old sage advice of “…say what you mean. and do what you say” is very appropriate here.

I’ll hope for one more day that you really can assist me further by having your staff call me and keep their promises.  Obviously – if I experience another “no call day” I’ll consider that as your bidding and go away.

THE  OUTCOME FROM MY LETTER

NO CALL, NO LETTER, NO CARD - JUST SILENCE.  I HATE TO BE IGNORED.  

TAKE YOUR BUSINESS SOME PLACE ELSE WHERE CUSTOMER SERVICE IS THE HALLMARK  NOT A SOUND BITE.

Aug 16, 2012 Reply
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Company Overview

Greenlight Financial Services, a direct mortgage lender, provides fixed rate mortgages, adjustable rate mortgages, jumbo loans, and FHA loans. Fixed rate mortgages are offered for 10 to 30 year terms. Adjustable rate mortgages available include 3/1, 5/1, 7/1, and 10/1 year terms. The Greenlight Financial Services website offers several mortgage related calculators as well as answers to common questions. Applications are accepted online or over the phone. Greenlight Financial Services attributes their ongoing success around the principles of “excellent customer service, very competitive rates, and efficient loan processing”.

Headquartered in Irvine, California, Greenlight Financial Services is an Equal Housing Lender and provides mortgage services in Arizona, California, Oregon, Washington, Hawaii, and Texas.

Company Details

Greenlight Financial Services

  • Established: NA
  • Headquarters: Irvine, California
  • Website: www.greenlightloans.com
  • Products: Home Equity, Mortgages
  • Assets: NA
  • Available: Online and over the phone; select states

Rating Distribution (110)

  • 14%
  • 3%
  • 5%
  • 0%
  • 78%
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