CIVIC Financial ServicesReviews of civicfs.com

BEWARE BEWARE BEWARE! BEWARE OF THIS LENDER. THEY ARE KNOWN FOR THEIR DISHONESTY! My acquisition/construction loan although in the name of my company, they can't seem to find to reply. My name is Donald Cole and it is my opinion, the opinion of other mortgage lenders, banker and brokers, along with my attorney, that what was done to me was a type of fraud. I am putting together a class action suit against them. I will be trying to contact everyone who has left a bad review to see If any of you wish to participate in a class action suit against this company, the owners as well as their individual investors. I AM COMPILING A LIST FOR MY ATTORNEY to decide if I bring a suit by myself or if there are enough for a class action suit against Civic. I was told that the only reason they have not been stopped as yet is because people like myself are embarrassed and have been drained of their finances so they are left with no good money trying to get back the bad Anyway, here is MY story: During the purchase process they procrastinated the loan month after month by constantly requesting paperwork we had already sent to them until we were about to lose the deal and they were the only lender we had left. Then once they hooked us, we closed, using about $185,000 towards the purchase price with an additional $207,000 in a construction LOC. We had only accessed $185,000 of the loan for acquisition so after a few months I inquired as to why my interest payments we so high and found they were charging me interest on the full $400,000 loan even though we had only accessed $185,000. AS IF THAT WASN'T BAD ENOUGH they would not properly release constructions funds to keep the project going in a timely manner FOR OVER A YEAR AND A HALF, placing another $30,000 intererst in their coffers! They made it EXTREMELY DIFFICULT to access our construction funds to the point we had to sell the property after we had only beening able to complete the demo. We only found out later when talking to other lenders that Civic is KNOWN in the industry for doing these things.

If you started with it may be too late. The worst experience in 20 years of investing. Terrible service DONOT pleaseeeeeee DONOT use them for any of your real estate investing needs you will regret it.

The absolute worst hard money lender, I have used quite a few, and I cannot stress enough how terrible they are. They take weeks to get a draw to you, there is no online portal, they charge huge fees. They took over a week just to get a payoff statement to the title company for the sale of the home that was quick close all cash. It took months just to close the loan when they said it would be weeks. DO NOT USE THEM, READ ALL THE PAPERWORK.

It’d be unfair to criticize any organization today, without a reasonable sense of understanding. This market impacted by COVID-19 is undoubtedly uncharted waters for everyone. During this tumultuous time however, Civic should not be remembered as a leader. My borrowers and myself are shocked with Civic Financial’s poor reactionary procedures which were put in place during this crisis. Procedures that ultimately mislead their partner brokers and clients when they needed it most. They were the first of just a few lenders to announce that their lending capacity, would ultimately remain available , throughout-out a market impacted by COVID-19. I wish I would’ve known the entire truth to such a statement. In the course of a week since the announcement, Civic has completely changed the loan structure in regards to pricing and LTV, for loans that were already underwritten. I understand increasing the pricing for all new loans going forward, but to alter deals already underwritten and in the process of closing is unacceptable. Civic has let it be known that these changes will be made with no exceptions, even by case to case basis (for repeat clients). If you have an immediate need for capital during this time. Im implore you to look elsewhere for a reliable and honest lending partner.

I have been in the financial industry over 30 years, brokered and closed for my own account in excess of 1000 loans in 5 states, ranging in amounts from $20,000 to $10,000,000, helped countless homeowners navigate their way through the crushing mortgage crisis years. I've worked with every imaginable U.S. bank and mortgage lender, from the largest to ones since demised, insurance funds and international banks. But, never have I ever encountered one so blatantly incompetent, dishonest, unscrupulous or fraudulent as Civic Financial, and their erstwhile servicing subsidiary BSI Financial Services. So egregious are their accounting and loan servicing actions that it became necessary to not only file suit on one particular Oregon loan, but I am preparing regulatory agency complaints for filing in Texas, California and Oregon.

Nightmarish, most stressful experience ever!!! This is not a company you want to use for hard money. More documents and emails back and forth than a regular mortgage company. Took longer than my recent refinance of a property. Funding amounts changed at the last minute at closing. Closing Attorney also felt exasperated and expressed extreme displeasure. Let's see how the draws will be paid out. Had it not been for a potential lawsuit for not closing this deal from seller, we would not have gone through with this financing!

I brokered a deal through Civic for 10 refinance properties. It was a 1 year deal for a client who had a 660 FICO. The client provided sufficient assets to show proof that he had enough money in the bank to pay all of the properties for the entire term. After going back and forth for months they decided to deny the loan, and would not provide a reason. I have never been treated less professionally in my life and I cannot imagine how successful this company can be denying a multimillion dollar deal and not providing the broker that brought it to them or the client with a reason.

Started off strong and ended up very unsatisfied with our results, never returned calls once we finished and needed assistance.