Visio LendingReviews of visiolending.com

This is the first time to dedicate time and energy on a bad review. That means I feel strongly about it. I’ve done 6+ loans with Visio and this last experience was the last time I’ll use them. Disappointed, because John S was amazing to deal with. In my military days the saying was “he’s a stud amongst duds.” Visio always took way too long to complete deals, along with poor communication, high fees, and forcing borrowers to use their title company. But, they were the only game in town. So, I went along with it. This last deal was over the top bad. They’re appraiser came in $70k below actual value (had another appraisal done), and went out of his way to make himself seem “smart.” Visio didn’t budge on making the deal work, and kept my upfront fees. The lack of care for a loyal, long term customer was disappointing. Luckily, there’s other lenders doing the same thing - and they do it faster, cheaper, and value the business. Stay away from Visio.

Very poor communication with the person that handled my account. She never returned my calls or email unless she needed something. They also change the rate at the very end saying they “forgot” to notify me...a couple of days before closing when it was too late to change things. Also the scheduling was scheduled and changed 3 times...they did not seems very professional. Also the appraisal was told one price, paid for it, and then was told I had to pay more...

Visio's insistence on using certain title companies is killing our business. It takes an extra three+ weeks to get loans closed due to their incompetence and no-rush attitude for getting required tax certs. Visio management had also suspended all loans from one of our best borrowers due to an impending tax lien (insinuating that the borrower was a deadbeat) when it turned out that the title company simply neglected to make the payment to the tax collector that was shown on the HUD-1 and collected from the borrower at closing. Visio's sales manager (Jeremy) also threatened to cut our company off because of our strenuous complaints about Adam Epperson who has proven himself to be incompetent. This decision has led to the loss of a client who closed over a dozen loans with Visio plus another broker who sent us two loans that closed. Your sales manager is supposed to help bring business in, not drive it away. Do you want to hear about BSI? On a condo loan they simply decided to stop paying the HOA fees they were collecting to the management company because, in their words, "it was too much trouble". They also dragged their feet providing payoff statements on intra-Visio refis ( loans which Visio refused to lower their origination fees on even though the borrower paid the prepay charges on the original loans). With all this being said, Visio has some very good employees (Brandon, Emily, Crystal, Anna, Kylan, and a hand full of others) but the bad ones (Jeremy, Adam E. and a couple of others) combined with Visio's management policies make it harder and harder to continue doing business with you.

First of all, you lowered my credit score so you could charge me more. I do not have a score that low anywhere else. When I said something about it, just got a lame excuse as an answer. Second, closing costs are WAY too high! It makes no sense at all to charge for first payment in closing costs, only to refund it after first payment is made. Also, there is NO reason to require HOA fees be prepaid for an entire year. Other lenders don’t require these ridiculous things. I couldn’t get all the cash out I needed because of these unnecessary padded costs. Third, I was not warned about how high the interest rate would be after the 5 year lock in expires. Now, I will have to refinance again in only 5 years, but next time I will find another lender.

Took too long required too much paper work

Taylor was our loan officer. My Wife and I are full-time investors so not having W-2's we have to use unconventional long term loans to fund the rental properties we purchase. When looking at Visio we thought it would be a great fit for what we are trying to do. It turned out to be like one of those bad dreams you can't wake up from. Taylor took so long to close on our loans he had to re-run my credit, so I now have to hard pulls on my credit report. They asked us for our log-in ID's for all of our bank accounts so they could verify funds which we did not give, we submitted paper copies. The loan processor was nearly impossible to reach. We started the loan process at the end of October and didn't close until the end of February. During the long process, the interest rates went down and Taylor would not adjust our loans to the new lower rate. We were not given a choice of what Title Company we wanted to use, we had to use their preferred Title Company. We were not allowed to contact the Title Company and ask any questions. We did finally close but what a nightmare.

We started the loan October the 1st and were told it would take 6 weeks. We finally closed January 4th. 13 weeks!!! I sent them everything they ask for immediately. I had to resend things because they were not following thru with their part. I kept asking for details on the loan and just received a summary! I will not use them again, unless I have no other opposition. I had to call and ask about the progress. Then they would do things and then say I had to update bank account papers etc..

The mortgage originator I dealt with was very nice and really tried to help me. Rodney was great to work with, very polite and tried to help and very responsive. However I initially applied and received certain information on the loan that, then after a few weeks he contacted me to tell me that their loan rules had changed while he was on vacation, and he wasn't aware of the change. So it led to the rates being less favorable for me. Supposedly the criteria for the loan requirements changed. Houses over a certain value would get the rate that was advertised and that I was initially given. Houses valued under that threshold, I believe it was less than $250K or $275K, got a worse interest rate. That was not on their website and was not told to me in the beginning. That came about after a few weeks into the process. By that point I had already paid for inspections, paid earnest money, paid title company fees and bothered the previous owners, their realtor and my realtor for too long. So I continued going forward with it. Also, I had to send and resend the same documents over and over again, because whomever they had reviewing the attachments I would send would only look at perhaps the first attachment and none of the others. On several occasions I pointed that out. Fast forward a couple of weeks and I was contacted by the loan originator that I was working with and he told me that other criteria had changed too that he was not initially aware of. I needed more of a down-payment, higher reserves in my bank accounts, higher initial payments for the escrow accounts (I was told a full 12 months). I was annoyed, but I went too far to back out. I received the loan information the day before the closing date with all of the new requirements. The day of closing, as I was on the road to the title company's office, I get another email with a new closing cost that was about $10,000 lower. Apparently I didn't need the 12 month in escrow. It was a nice surprise, but I had to go get a new cashier's check.