Mortgage Ratings - Concord Mortgage Ratings

Concord Mortgage Ratings

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We got a loan with Concord Mortgage and in doing so the loan officer we dealt with (Cary Kolopsky) told us the appraisal would cost up $300.00. Living in Alaska on island it was over $1000.00. Cary told us at closing his boss told him they would spilt the cost of the appraisal with us and for us to go ahead and pay it and they would send us a check. The loan was finalized in June and as of today (Nov. 26)we have not received the check. We have called and talked to the loan officer over ten times and always told us he could not believe they have not sent us a check. Now he will not take our calls or return our messages. We called his supervisor(Brian)and he told us he would call us back in 20 minutes. He never called back either.

A terrible experience

We used Concord Mortgage out of New York. It was a terrible experience: the GFA that we received stated our closing costs would be approximately $4000.00. The gentleman we were working with told us we would be getting approximately $1500-2000 back at settlement. Well, the day of the settlement, we got a phone call saying we were coming up $400 short for the settlement instead of getting some cash back.

When we questioned this, and then ultimately requested the paperwork to justify the difference, we found out there were two brokers involved in our deal, and the final cost was actually going to be around $8100. Both companies were charging the fees, and the closing costs.

No one ever told us about this, the only way we found out was by asking many, many questions. We would have been double-charged for many of the same services had we not questioned the whole thing. Concord really tried to push us into the refinance anyway, tried to convince us we would be saving $200 per month in our mortgage payment. We backed out of the deal, but it still cost us $325 out of pocket for the appraisal.

If 1 is worst rating and 5 is the best, I would rate Concord Mortgage out of New York definitely a 1.

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