Julie B.
Unresponsive. Wasted our time. Disappointed.
We found Morty in an online search Sunday and initially they looked good - the snazzy platform, positive reviews. We had a call with Ian first thing Monday to discuss financing on a house we just went under contract for. We both have excellent credit and were already prepared with our financial statements, tax returns etc which we provided right away. Ian said we should have some answers by end of day after he discussed with 'his team'. Ian did not sound like an experienced lender himself and wasn't able to provide us with much useful information.... it was all being referred to 'the team'. Suspect he is more of a gatekeeper... and not a very engaged one at that. Arranging home financing is time sensitive, especially when under contract. We never heard back from Ian by EOD as promised so I sent a follow up email Monday night. No reply. Sent another follow up email Tuesday. Nothing. Sent a 3rd and final email Tuesday night to check if Ian was getting our emails or if he and 'his team' just didn't want to work with us - in which case, a reply would have been appreciated. We did see Morty pulled our credit inquiry (we're both high 700s), but here we are Wednesday, and still crickets. Oh wait! An email just came in from Ian with the subject header "Your pre-approval letter from Morty" - did we have progress, after all? Alas, it turned out to be one of those automated marketing emails to check where we are at with our home buying process... asking if we've found a home, made an offer, and saying they can get us a verified pre-approval letter in about 5 minutes. Hmm that was not our experience. SIGH. For a small company with only 20 employees, you would think you might get some personalized service. Or even a reply to your emails... and a follow up to a phone meeting and credit inquiry, with Ian or 'the team'. But alas, no. Seems Morty's style is to sell to prospective customers with their fancy platform and automated emails, but not actually service them. We really wanted to like Morty, and even work with them as their rates "looked good". But don't be bedazzled by their slick website and platform. Based on our experience, we recommend you keep looking for a real mortgage broker who will actually show an interest in working with you, help find the right financing solution, and respond to your communications. After all, we shared a lot of sensitive financial info with them, in good faith. And this is a big and important financial decision. Lacking confidence in Morty, we contacted another broker yesterday and just got approved – with excellent terms and rate – by Portia at Guild Mortgage. She was extremely helpful, efficient and we had our mortgage approved in less than 24 hours. Our realtor is very relieved as she had concerns about us dealing with an 'unknown' online mortgage broker...Now everyone is happy, except perhaps Morty, who we hope will use this feedback to improve their customer service and experience.
Response from MortyJul 13, 2021
Hey Julie, our current system is not designed to automatically validate self-employment income which increases the lead time for us to manually verify eligibility. Additionally, new lender requirements due to COVID-19 have made the process of verifying self-employment income a bit more arduous than normal as lenders require additional information. Our intent was by no means to ignore you. We wanted to make sure we could get back to you with a concrete answer when we had one to provide. We were going above and beyond to ensure we could reasonably close a mortgage for you, which called for additional time and diligence on our end. Our apologies for not communicating this in the interim. Thank you for your feedback and we wish you all the best in your new home.