Colleen K.
terrible company
terrible company. They take your money for appraisal and do not return calls. The loan office was Andrew Koval was rude when my husband contacted him.
Response from LoanFlight LendingJun 9, 2021
We will address all of the concerns you had posted in other reviews here as well as the appraisal comment. LoanFlight does not collect money for appraisals, the appraisal management company does. If an appraisal was completed, there is a cost that needs to be paid by the borrower - regardless if the loan is approved (again, per Fannie Mae guidelines) or not. During the process, the loan scenario continued to change based on documentation that we received from the borrower. Every time the loan scenario changes, pricing is rechecked and any bona fide loan level adjustments (as dictated by Fannie Mae - not LoanFlight) are issued in a compliant way, through a "Change of Circumstance." Unfortunately after gathering all of the required documentation and information we were unable to approve this loan due to Fannie Mae requirements. Your loan officer explained this to you, along with the reasons why you could not qualify (per Fannie Mae requirements) for a 15 year loan (and the rate that went along with it). It's understandable that receiving this information is frustrating, however, we are required to follow Fannie Mae guidelines when underwriting loans. Agreed we ran into delays, including a several weeks delay from your accountant to provide necessary documentation. This is frustrating to us as well since we generally have extremely quick turnaround times. You continued to request lower rates when your rate was already locked. The entire point of a rate lock is to lock your rate in for a given period of time to protect you against your rate increasing. Not to protect you from a rate increase while you also demand a decrease every time the rates lower.



