CIVIC Financial ServicesReviews of civicfs.com

Response from CIVIC Financial ServicesJan 30, 2018

Dear Scott, As you know we are very disappointed to read of your experience. When we first became aware of your concerns via email, our Senior Management was prompt to respond to you via email and phone. Email conversations led to our Sales Director calling you again via phone, albeit after hours. During these discussions and our efforts to both understand and ease your concerns, you became combative and threatened us with a negative review across multiple platforms. Our Sales Director was eager to come to a solution, and confirmed he would escalate on his end and give you a call back. You agreed; however, within 30 minutes, before our internal escalation conversations were even concluded, you indeed came through with this threat. In regards to the closing time, there were two specific reasons the transaction closed three (3) days later than anticipated. First, you provided two different invalid credit cards for the $295 valuation fee, which set us back by two (2) business days. Then, we were set back one (1) additional business day, as you know, when you changed your mind regarding the co-borrower being on the loan application. For this we are very relieved to hear that your seller was patient, as we otherwise would have funded exactly on schedule. Our Rehab Financing is an excellent program and one we are very excited to offer, especially to experienced borrowers such as yourself. Like MANY other reputable lenders in our space, monthly interest payments are based on the total loan amount, including the undrawn rehab funds. Also, rehab funds are disbursed over draws in the appropriate and pre-determined percentage upon verification of completed work. As we’re sure you can appreciate from a risk management perspective, we must do this to confirm that the funds being drawn are being used for the project as intended, and that the last draw is issued when the project is fully completed. Loan details and your monthly payment amount were fully outlined in the documents you signed at closing, and had most certainly been disclosed, in basketball terms, “well before the shot clock dwindled to zero”. This includes being discussed in initial pricing conversations as well as repeatedly during further conversations between yourself and your Account Executive. While an apology will regrettably not alter the outcome of your experience on this occasion, we do extend it with all sincerity. Your review is a gross misrepresentation of the service that CIVIC works so hard to stand for, as well as our first-rate Rehab Financing Program that has come to serve so many avid borrowers and brokers alike.

Response from CIVIC Financial ServicesJan 11, 2018

Hi Lisa, Thank you for the review of your experience with CIVIC. In your assessment, you mention that the process took longer than expected because the pay-off from your previous lender was not received on time. After digging into this file, it appears CIVIC went out of our way to rush the file to accommodate the transaction to fund the loan. The issue occurred when the wire did not come through to the escrow company before they closed. We wanted to take the time to clarify in case you were under the impression that CIVIC was the cause for this delay. Thank you again for your business, we hope to do more loans with you in the future.