LoanFlight LendingReviews of loanflight.com

Response from LoanFlight LendingSep 17, 2021

We are hoping to connect with you via phone to discuss but haven't had luck just yet. We completely understand your frustration as the system appears to require connecting your bank accounts. This is actually not the case. There is an option, once you click through to your bank where you can choose not to link the bank account and, alternatively, enter the data manually. The original loan officer you spoke with was correct in his assessment - you do not have to link your bank accounts. The loan officer assistant you spoke with has been made aware of this feature and the remainder of the team has been re-trained on it as well. Thank you for bringing this miscommunication to our attention. We have added some additional information below in the case where a borrower does choose to link their bank accounts. What happens when I link my account? A third-party data access provider securely retrieves account information on your behalf. This provider will be able to continue retrieving relevant information from your account for as long as you use the services unless you tell us to stop such continued access by following the instructions in our Privacy Policy. You will be able to view and select which of your accounts to include in your application. Transfer of your information is encrypted end-to-end. How is my data protected? Your account, personal data, and documents are protected with industry-standard encryption. The security measures used to protect the data you submit with your application meet the highest compliance standards, including ISO27001 and SOC2 Type 2.

Response from LoanFlight LendingAug 30, 2021

We're sorry if your experience wasn't quite as expected. In reviewing your file, it seems like there was some issues with the appraisal. The appraisal process and pricing is managed through an appraisal management company so unfortunately we aren't able to control their fees or their turn times. We hope you were able to find another option to refinance.

Response from LoanFlight LendingSep 10, 2021

The official loan estimate is a document that is required to be sent to the borrower within 3 days of completing a full loan application and, by law, it cannot be sent until a full loan application is completed. The least transparent thing a lender can do is send you a 'quote' with 'estimated closing costs' prior to receiving a full application. The most transparent thing a lender can do is admit that (like we do). Closing costs are not controlled by a lender and, as stated on the loan estimate, are fees the borrower can shop for. The only fee a lender controls is the fee they charge you to do the loan. LoanFlight charges $0.

Response from LoanFlight LendingAug 27, 2021

We appreciate your business and the candid feedback. We'd like an opportunity to clear up, specifically, one item on the review as it is concerning and inaccurate. You mentioned marketing follow up you received after your loan has closed. We can assure you that these letters are not from LoanFlight. It is very commonplace for other companies to solicit a borrower that has a newly closed mortgage. When your mortgage is recorded (a required step in the mortgage process-regardless of the lender you choose), an advertiser has access to this public record and can choose to market to you for ancillary products such as life insurance and mortgage insurance. LoanFlight does not sell this data, as again, it is public record and it is not LoanFlight soliciting for these services as we do not cross sell other products. LoanFlight.com is a mortgage lender, not a servicer, so it is correct and expected that the servicing of your loan was transferred promptly after closing. We offer some of the lowest rates in the country and charge no lender fees. The tradeoff for the consumer is that we aren't like a traditional bank. Our process is digital and it is very much self service. Our borrowers must do the legwork of providing documents in the formats needed (there are some documents that are required, not by LoanFlight, to be printed and hand signed in ink). If this wasn't clear up front, we do apologize for that. It does look like you ended up with the mortgage and rate you wanted, which is our main goal here at LoanFlight. Your feedback is certainly welcome and encouraged, good or bad, we just ask that it be accurate in detail as other consumers will use this information when choosing a lender.

Response from LoanFlight LendingJun 10, 2021

If taxes are due within 60 days of closing, taxes must be paid prior to or at closing regardless if the borrower is escrowing their taxes. This borrower’s taxes were due on 6/7/2021. The loan closed on 4/21/2021. That is only 47 days. Taxes needed to be paid or we could not close the loan. This was explained to the borrower and they did not agree that they should have to pay their taxes prior to closing.