Evolve Bank & Trust review: Underwriting and Closing 10

Response to complaint 4-8-2011
First, let me apologize any inconvenience the loan process has caused you. The 2nd appraisal was required by FHA due to the anti-flip rules. We were unaware the 2nd appraisal was required until we got the final review on your title from the title agency showing that the seller took title of the home less than 90 days from your contract date and sold the property for over 100% of his purchase price. FHA waived the anti-flip policy on the issue of closing the loan but some of their anti-flip laws are still in place regarding documentation. It definitely slows the process down when this occurs. For that I personally apologize to you. Since I work primarily out in the field and Susan works in the office, the best way to reach me personally is on my cell phone. Please feel free to contact me on my cell at [protected]. Your satisfaction is very important to me. Jo Garner, Mortgage Loan Officer Evolve Bank and Trust.

I was completely shocked by the comments above. Jo Garner has written two separate mortgages for me, personally and was very professional throughout the process and kept me informed. Although I had no deadlines, Jo was determined to close on the date she original gave me.

I have since worked with Jo and Susan across the table, not as a customer but as an insurance professional. Both ladies have been easy to work with and nothing but polite to all in our agency and of course with the client. If there was a delay in closing it had to be unexpected and beyond Jo's control. Since we sometimes share the same clients I know firsthand the rave-reviews our mutual clients give Jo after the closing. The best compliment I can give Jo is that I have used her and sent friends and relatives to Jo for mortgages because I know they will get the best rate and the best service available in Memphis!

I have known and worked with both Jo Garner and Susan at Evolve Bank and Trust for a number of years and have always found them to be prompt and prepared for whatever comes there way. They are both pleasant, trustworthy, and easy to communicate with. I have heard nothing but positive things about them from everyone I work with.

I have known Jo Garner with Evolve Bank and Trust for over four years. She is the most helpful, sincere, genuine, trustworthy, and best all around person I have ever met. She always puts the other person first. I would not hesitate to send any of my clients to do business with Jo.

Evolve Bank & Trust contacted my son by phone this date and convinced him to refinance his home with them based on a form that I filled out via the internet just looking for information. The online form wanted his SS# and I didn't supply it. I was not even sure that the form went anywhere due to the missing information. But they called him - from California. We live in WV. I have no idea if they are licensed to do business in WV. I have no idea if they are a bank. They talked my son into charging almost $500 on his credit card and they proceeded to email me forms...several emails followed. All the forms have to be printed out by us and returned to them within 3 days...which is a rush by anyone's standards...when external documents they require have to be secured from external sources. I am smelling something like a scam...too fast...money up front...couldn't mail us a packet...He doesn't even have a computer or internet ...so what if I don't have enough ink to print out all this stuff...we certainly don't have time to gather up all the information they want and mail it back to them in 3 days. I also read that they do all this and then refer you to a Mortgage Broker which we can do on our own w/o a middleman. I would appreciate input.

If the 500.00 charged was in connection to paying for an appraisal, you can thank Rep. Frank (Ma-D) and Sen. Dodd .(Ct-D) for that. It has been for the past few years that the rules have changed and you cannot pay an appraiser at the door like you used to. This was done to keep the appraisal process on the up and up and make it so that the communications between Loan Officer and Appraiser out of the equation. The regulations that the US Gov't put into action to protect the Banks and YOU are the reasons why you are getting asked for a check or credit card number before hand and also the reason why you have to rush all paperwork back in. Please do your homework before you come on here and voice your opinion. If you are trying to save money by refinancing, it shouldn't be a hassle to round up some simple paperwork. Would you like the Loan Officer to wipe your rear end too after you go to the bathroom?

I find your last remarks very distasteful and inappropriate. Since I posted my last question/comment in February, we have been communicating back and forth with Evolve Bank in CA. Our Loan Officer that we began with is no longer there. We finally found out by not getting any responses to our several emails to him. We are now communicating with his supervisor and Loan Depot. As of this date, May 8th, 2012, we still do not have a finalized Loan. I have found out that the parent company Evolve Bank & Trust located in TN is accredited by the Better Business Bureau. It did take alot of time to acquire the several documents they requested; and once we supplied them, there were a couple that they continued to ask for even though we had already sent them. We are hoping and praying that this FHA Loan that they say my son qualifies for does get processed. I have found it difficult to deal with a Loan Company in CA due to the time difference. When we are ready to retire on the East Coast, they are still working and have communicated things late at night (to us) via email that they need right away. On the other hand, when we arise in the morning to begin our day and are ready to talk or get clarification, they are not even up or at work yet. Again, I hope this is not a scam. AND, AGAIN, your last comment is offensive and totally inappropriate.

I am not in the mortgage industry at all, but I can confirm that it is a common praxis now that appraisals have to be paid upfront. When you make a decision to refinance your house you should not expect that the mortage company pays all your fees just because, further more clear communitaction and respect is a key incrediance to a sucessfull deal between both parties.

My daughter and son in law are using Evolve Bank for their first mortgage. The loan officer has delayed and delayed. His standard response is, "I'll take care of that", but then doesn't. They are not closing on time, missed two closing dates. The loan officer is il- informed about what he is doing and doesn't understand much of what he is asking for and it's purpose, so he has 'made up reasons' for items requested. He loses papers and asks for them repeatedly. He waited until 2 days before they were supposed to close to give anything to the underwriter so of course, they aren't closing on time. They padded the bill with things like fixing a very small thing on the house and then charged additional $125 for an inspector (the same guy that did the appraisal) to go out and check to see if it was done! At the last minute they decided they wanted a second well/septic inspection, even though the seller did one and had the septic pumped out at their expense. The water was checked too and a report was given to the bank. They just kept adding money to the closing costs! This bank is money grabbing. Their fees were outrageous. I have purchased and sold many homes and have never seen anything like this! NO ONE should use this BS bank. Chicago area.

Due to the tighter government regulations previously mentioned you can rest assured that those "extra" fess are being properly paid to the third party performing their duty. A final inspection is more than just driving by and saying "ok it is done". It is confirming its done and then going back to the office to enter it into "the government approved" software system. Todays mortgage is a tight paper trail. The appraiser making that final inspection is protecting you as well. He is documenting that you are getting the house in the condition you are paying for and he can be held accountable if its not. (prison, not jail but prison). A mortgage company's (Evolve Bank and Trust) profit margin does not change after the loan application has been officially made. It cannot. The process can be frustrating and sometimes delayed but you have to remember that everyone involved has the same goal.
You want the house.
The bank wants the loan.
The seller wants to sell.
The loan officer wants to close
The attorney wants to close
and so on...
Unfortunately with so many restrictions designed to protect everyone it will often clog up the flow. Try to be patient and good luck.