Mortgage AmericaReviews of mortgagebankamerica.com

We have used Mortgage America for approximately 20 years and have always found the process of applying for a new mortgage or refinancing a mortgage to be extremely efficient and fast with them. However our most recent refinance was very frustrating and difficult due to the agent doing all communication by text message. It may seem efficient to a business to condone this activity but it does not allow the customer to ask questions and get an understanding in an efficient way for them. Conversations are necessary when dealing with such a complex and important matter. Our credit and financial security are at stake before, during and after the process; mistakes and misunderstandings are not an option. We expressed our concerns with the company and hope this does not happen to others.

I have very mixed feelings about my experience. My loan officer was always very friendly and responsive. I suppose I should have been suspicious when he issued a prequalification when other lenders hadn't. I assumed that because he had all of my documents, he knew what he was doing. Unfortunately, two days before my loan commitment was due to the seller, he called to tell me that he had made a mistake in issuing the prequalification. His lack of care and conscientiousness could have jeopardized my ability to purchase a home. He made no effort to rectify the situation - it was entirely on me to scramble and arrange for an alteration to the sales contract. The mortgage processor with whom I worked was absolutely fantastic. She was responsive, transparent, and always made sure that I had the correct information. So, while I found all members of Mortgage America to be extremely friendly and responsive, I do believe that the loan officer acted in an unethical manner.

Nice folks but communication was sparse and delayed making my closing experience unnecessarily stressful. Then they sold my mortgage to a different servicer after I had selected them because they were local and we discussed how much I valued being able to have a local person to contact.

I was mislead about the amount of money I needed for settlement and showed up with a bank check not equal to what was needed . They did not attend my settlement and sold my loan before I even settled.

The pre-application numbers were exactly what we were looking for in terms of a mortgage payment. By the time settlement came, our final number increased almost $100. I'm a need to know person and felt like the employee was annoyed every time I had a question or wanted an answer. I don't speak the language of loan officers so explanations brought down to my level would have been more helpful. It would have been helpful too if they were understanding of this. Overall they got us the home we were interested in but some improvements to their customer service should be made.

They definitely had the best rates in the area, however, I felt like they lacked the personalized support that we had had with our past mortgage. Many factors could have played into this like COVID and the fact that we were not first time homebuyers. I would have liked that though and I had to initiate communication a few times rather than just being kept up to date. Also, our closing almost didn't happen on time ( which was planned months in advance) because the people in that department hadn't given our closing agent the necessary papers to close and it involved a lot of asking on our part and I the agent's part even though the lender had said we were all good to go and given us the go ahead for that day. I also found their webpage not the most user friendly. Overall, I will say that I found our individual lender Bob to be kind and helpful, I think it was more of the bigger company and structure thing I didn't like as much. I think if you are an experienced home buyer who is tech savvy and wants the best rates you will be happy here. If you are a first time homebuyers I think you would be better served at a local bank.

Everything seemed to go well until we received a cancellation notice of our home owner's insurance because a payment to them was never mailed. It was inconvenient and after the amount of money spent, we felt it was unnecessary that we had to intervene to fix this.

Overall decent experience. Although all were pleasant, there was an excessive amount of handoffs from one entity to the next. Purchasing a new home is a stressful experience. Having a "go to" person from the start to the finish would make things much more pleasant and improve the overall customer experience.