Coldwell Banker Ratings |
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 Stay Far Away from Coldwell Banker |
Stay as far away as you can from Coldwell Banker. From personal experience, I can tell you that they do NOT care about their customers one bit. They have all of this fine print that is impossible to understand! And then when you get your $300 service fees on your statement, you ask someone to interpret the ‘legalese’ and you realize that you signed to their fine print that all was okay. I tried on several occassions calling customer service and they were terrible, rude, and basically said it was my fault for not knowing the details of my loan. Then, they take the money directly out of your checking account with out any further chance to revise the funds. Forget them. May God have mercy on Coldwell Bankers |
 Not Too Bad |
My last loan was through PHH/CB Mortgage/ERA Mortgage (They’re all the same company) Overall they’re not too bad, they’re a in-house lender so their programs may be better than many of the rest. Being a real estate agent, I’ve had about 6 mortgages go through them and have had very little complaints. I’ve seen a few of the negative responses about this company, and many of the complains are disclosed in the application packet they send you when you first get the mortgage. The lender fees can be higher than a local bank, but few local banks do what PHH/CB/c21/ERA mortgage does. The only issue I have with them are using higher-than-average cost appraisals, because the appraisers must be in certain groups to appraise for this company (Leading to a $75-$100 premium to use their appraiser over a local one) and the issues with getting PMI taken off an account. |
| Coldwell Banker Felt Criminal |
Listed with CB and immediately, the agent says he has a buyer. Sends me a letter stating the buyer has been preapproved, and has made a $1,000 deposit. 30 days later, no offer and agent says buyer wasn't qualified. Furious, I told them to send me the deposit for the 30 days my house was off the market. The response was "We're not authorized to do that"! I sued and won. -- Stephen George Bishop Mortgage Consumer Advocate |
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I didn't choose them, but they still charged me $350 |
About a year ago, I applied for a mortgage with Coldwell Banker Mortgage. I had been using Coldwell for my first mortgage and was pretty pleased with the overall lending experience. Because I already had one loan with them, I decided to give them another call. On my initial loan, I was approved pretty quickly and they gave me a great rate on my loan (similar to everyone else I had been shopping. Anyway, during my loan application, they said that because I already had one outsanding mortgage they were unable to finance me. My loan ended up being denied. What was the worst though was that they sent me a $350 fee for the application because they had ordered an appraisel. I was originally told that if “I” cancelled my application I would be charged the fee; however, it turns out it said, if I was denied (in the fine print) that they would still charge me a fee. I thought this was a bit sneaky and dishonest of them. I would definitely shop around before you take a loan or even fill out an application with Coldwell. It could cost you a lot! |
 Mediocre at best |
I can't say that Coldwell Banker is the best company to work with. I would definitely shop around first. I had some problems with them misapplying payments. Also, they were suppose to work with me on getting rid of my PMI, but that whole process got messed up and Im still paying PMI. Double check around before you work with Coldwell. |
| Not the Best |
My experience with them hasn’t been the best. I’ve been in my condo for about three months and my payments that I’ve been submitting are still not correct on their end mainly due to the fact that they have messed up on the principle application of 1 particular payment. On one of my first payments, I overpaid and said that I wanted all of the funds to go only towards my principle balance. I felt that I made it extremely clear with the highlighted text on the top of my payment. They ended up applying my payment towards future payments and my auto drafts wouldn’t then begin for several months. I have made well over a dozen phone calls to have this corrected and they still have not fixed my account. I don’t understand why it is so difficult to apply funds correctly. This is the first time that I’ve ever used a mortgage lender, so I can’t really compare it to anyone else, but I would think that a simple issue like applying funds would take less than a few minutes. I don’t understand why they make things so complicated. Other than this huge complaint, I will say that they do seem knowledgeable in other areas of business. |
| All they want is commission |
| I wouldn’t recommend using Coldwell Banker for your housing transactions. My wife and I used Coldwell as the broker when we had sold our house on the East Coast last year. It turned out to be a hassle when the broker’s office was about 30 miles away. After dealing with them on various aspects of our transaction, I’m convinced that their main concern is not customer service, but is to make sure that they get their commission. My broker didn’t know that the city I was in had started a new law the year before that requires sellers to dig up a certificate of occupancy before the sale is final. It caught me off guard because as a seller under this law is at risk for work that had been done in the house (by a previous owner) that was never approved by the city council. Because my agent wasn’t aware of this, I only had about two weeks to make repairs and correct the problems before closing which cost 3 times as much had I had adequate time to get the repairs done in a cost efficient manner. I think that if my agent was more concerned about the job she was doing rather than getting commission none of this would have been a problem. |
| The Kings of Hidden Fees |
Watch out for the hidden fees!!! After working with Coldwell Bankers for several weeks trying to find a new home, they hit me with a surprise fee after finally presenting me my offer. My options were to pay or walk away and go with another lender. Talk about Shady! They seem to be known for their unethical business practices and bait and switch tricks. I didn’t end up lending with them for this reason. I sensed problems from the beginning. |
| Don't do business with them! |
I gave Coldwell Banker 2 stars for my home loan reviews. The only reason they get 2 is due to the fact that they 'do' have decent rates. Other than that, I'd rather bank with Anyone other than Coldwell. They're dishonest, have rude customer service reps, and hidden fees galore. I swear they're business is build on bending customers over and charging them hidden fees. I had called them to apply one of my payments to the next month (an early payment) well, they gladly did this, but then sent me a service fee for the process! I was so mad, I called them, and they told me to read the fine print. Screw them. Don't do business with Coldwell EVER. |
| They are just okay |
This is my 3rd mortgage and I decided to use Coldwell Bank. I've had some problems, but nothing too major. I've heard from a lot of people that they get random fees and penalty charges, but I've been lucky so far. |
 A mixed review |
I thought they had decent rates, but there was a lot of fine print in the contract that I didn't fully understand. I had read some other home loan reviews about Coldwell and I was honestly afraid that I would be signing something that would come back and bite me. I bought my house several years ago, and with interest rates being so low, my husband and I decided to refinance. We shopped around, but we have less than perfect credit which affected the interest rate that most banks were able to give us. Anyway, although I was a bit hesitant, we went with Coldwell. They're customer service isn't the best out there. I work with other call centers alot for my other bills like Verizon Wireless and Washington Mutual and I can tell you that those two have AMAZING service. With Coldwell, I feel like I'm talking to a disgruntled postal worker or someone who really hates their job. I know they might not mean it but the tone is conveyed across many of the reps I've dealt with. Again, our credit history isn't the best, but they did give us a decent rate. Also the paperwork process was much quicker than I expected. They did end up charging us a one service fee which was expected, but I've heard other lenders wave most fees if you're friendly and persistent. Overall, I'd say they might be worth checking out if you dont' have the best credit, they did manage to keep our monthly payment down. |
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