Anonymous
map-marker Frisco, Texas

Never borrow from this company

I have my home loan through this company. We had hail damage. My insurer was awesome and my contract was terrific. Franklin American Mortgage was on my check, so had to "cosign". They have held my money for three weeks, and are not providiing me upfront or money after completion to pay my contractor. They have absolutely zero communication and when I call in put me on hold forever. I just tried calling their corporate number and it rang about 40 times without being picked up. If you want a company that respects their customers, I would highly recommend you use someone other than Franklin American. They are a company that Costco services recommended.
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1 comment
Guest

We have almost this exact thing happening right now. $13,000 in roof repairs and they won't sign the insurance check, therefore our roof won't get fixed because we can't spare that kind of money up front.

Anonymous
map-marker Roswell, Georgia

Terrible experience for first home buyer

I had been in contact with FAM for 2 months before closing and had new paperwork to sign and documents to give to them every single day. This came down to the day before closing where they still were asking for new documents and at the same time guarenteeing that we would be ready for closing. On closing day they still were asking for more information and said they did not have everything they needed to close the loan. The loan never closed and I had to pay cash (through a friend). I would NEVER reccommend this company to anyone
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Anonymous
map-marker Fond Du Lac, Wisconsin

Franklin American = Bad Mortgage Company

I requested my tax to be paid for before year end 12/31/13. I was told that it will be done asap. Money was drafted from my escrow account on 12/17/13. On 12/30/13 I called my tax place and they never receive the payment. When I called Franklin American back I was told they paid it on 12/17/13 but was unable to provide the check# they paid my tax with. When I finally get to speak with the supervisor I was told the money from my escrow account was wired to a 3rd party called Corelogic to send payment. They fail to check with Corelogic to find out when they made the payment and what ck# or eft# my tax was paid with. I had to pay for my tax out of my pocket and I am not sure when they will be refunding my money as I was told by my property tax customer service that they will refund the money to Corelogic because they paid it last and it's my city policy to refund the 2nd payer. Still waiting....... Then my home owner's insurance billed them for $619.00 and guess how much Franklin American sent the payment for? They sent the payment for $618.00 which is a dollar short! It's not that I don't have enough money in my escrow account. Someone at Franklin American is lacking the ability to perform their job correctly. I am very, very unhappy with this company. If anyone is considering refinance with this company, please do your research and think twice.
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Anonymous
map-marker Dallas, Texas

Missed our closing date by 15 days

The underwriter had our information 5 months prior to our anticipated closing date. The day before that date, more questions came up about a 10 year old mortgage that she knew about from the initial paperwork. We simply could not provide enough information for this underwriter. We had to move out of our rental (domicile while building) and store our home items and continue to try to satisfy her. It took 15 more days to finally get her enough paper to choke an elephant. This caused a double move for us. Totally unnecessary and costly. She could have asked her questions 5 months prior to our due date and saved us all a lot of aggravation.
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Renada Szy
map-marker Naples, Florida

FRANKLIN AMERICAN DEPLORABLE LENDER

Took more than 60 days to process the loan, when I was pre-qualified and approved by other lenders with a high credit score. Drifted from dept to dept. Left hanging at closing table on a number of delayed docs. It gets worse. Once mortgage secured with FAM, trying to get through to them on PMI issues, improperly calculated tax statements (they sent the wrong ones), and getting customer service, impossible. NOT ONE HUMAN BEING returned my 10 phone calls and six emails over a 6 month period of trying. Please, please do yourself a favor. If your broker recommends them, or you are independently come upon them,, run don't walk. I am refinancing with someone else. Not worth it.
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Anonymous
map-marker Austin, Texas

Check from Insurance Co.

I received check from my insurance Co. made out to me / you. I called ask where your Rep. was located to sign check? Answer was you must send us check signed, Ins. Adjusters Est. and Roofers Est. Plus we will send you and your Roofer to fill out. We will inspect repaired damage.

This shows me you have no trust in people and you are bulling me in to doing more work and my roofer more paper work.

You want me to trust you by signing check over to you then you issue me a new check- Why should I trust you?

By not having trust in people shows me you are a not trust worthy - You need to trust the people that employee you to handle there money. You have already did credit checks and other personal checks on them. You have all there information as Soc. Sec. # wages.

If you don't trust me after you check me out why should I trust you. I did not pick you. You bought my loan from a bank I picked.

You can be replaced. You work for me!!

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Anonymous
map-marker Slidell, Louisiana

Terrible unproffessional service

When I first talk to loan officer candy metzler slidell location she put the phone down without putting it on hold while she talk with another customer very rudely then got back to me and perceeded to tell me how incompitent some customers worth it took over a month of submitting document after document closing date was set for june 28th and called me a week before to day I wasnt approved..the next day I went to another bank was approved 109% on the spot I now have a new home no thanks to Franklin American they was so unorganized and knowing what documents they had and they ask for the same ones repeatedly.A blessing in disguise that they are not my mortgage company. Also had me to pay for appraisel they never ordered it was an ordeal to get that money back
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Loss:
$85000
Katha Kis
map-marker Tennessee Ridge, Tennessee

Home buyer

This is by far the worst experience I have ever had with a mortgage company. After 45 days of submitting document after document, spending $1000 for inspect, appraisal, etc. receiving a conditional approval only to be denied 3 days prior to closing. The reason for denial is a day 1 issue having to do with inheritance money, not 45 days later. Not only did I lose money, so did the seller. Absolutely terrible, unresponsive to status where we were in the approval process. I would strongly recommend staying away from doing any business with this company, unless you can afford to flush money down the toilet.
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Loss:
$1125
Anonymous
map-marker Cleveland, Ohio

FAMC is terrible! Missed closing date!

Had 45 days to close and FAMC missed closing date! Underwriter Is terrible and unresponsive. I'll never work with this company again. Mortgage broker has gone up the chain of command trying to get this deal closed and FAMC has no response. I'm literally repulsed! This is the worst experience I have ever had with a mortgage company. What company takes over 45 days to close on a house that has no issues or repairs needed! They wouldn't let us escrow funds for a $50 paint repair on the house and took 15 days to make that determination. Terrible all the way around.
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Bjnorth N
map-marker Denver, Colorado

Loan was denied at the last minute

I have been dealing with Mark Barnett at Franklin American Mortgage since the beginiing of November. I had submitted all income statements, w2's, check stubs, abnk statements,everything. At the last minute they denied the loan for 3 overdrafts that were paid 3 months ago. They had all this information well in advance. After I paid $455.00 for an appraisal and I think they knew the loan wasnt going thru. PLease stay away this compant as I beleive they are predatory lenders and discriminate against minority buyers.I have made complaints to to FHA,the state and the media. THIS COMPANY ARE A BUNCH OF ***
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Loss:
$1045
2 comments
Guest

How interesting that most viewers voted this review down. Why would that be?

It's useful. Maybe the "down" votes are from FA?

Guest

Franklin American keeps extending my closing date. I have already paid for the appraisal, my debt ratio is less than 38%, my earnings are well in excess of $110,000 per annum, my credit is 810, and the loan is for approx.

$270,000 -yet my closing date keeps getting extended. The lending officer keeps telling me that they needs more information for underwriting.

When I keep asking why, the lending officer keeps saying this is the new Obama lending regulation that is tougher on women, especially single women. DO USE THIS FIRM as this organization practices discriminatory lending.

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Evomnix A
map-marker Quincy, Massachusetts

Franklin American Mortgage Co

They are the worse ran company I have dealt with. Their claims dept keeps calling me that I'm late 3 months mortgage when I have proof that I paid. I've faxed them the proof over 3 times and their response is that it takes 24-36 hours to process. Ok thats fine but it has been over 3 times faxing in a spam of a month. Not only that, this hurricane has caused damaged to my house. So not only am I dealing with the insurance issues they were not willing to defer my payment for at least 3 months. I'm not asking for 6 or more just a few months to gather the money that I might have to use to cover what the isurance won't. And all I get is 100 yes maams and that they have never heard or Seen a deferment done which is nonsense because most major mortgage companies are allowing a small deferment. DON'T BOTHER WITH FRANKLIN AMERICAN MORT CO. They are unprofessional and incompetent. It's all about money and investors not the client.
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Anonymous
map-marker Jasper, Arkansas

Chapter7 & still hassle you to death

filed chapter7 final 12-8-09. this is 7-13-10, still want ins. payment i still owe such &such . talked to the bankruptcy officer at first franklin to make sure everything was under control he assured me it was. now 7mo. later, still wont let it go. what do you people want? i know you received copies of everything from chapter court. i dont know why i keep receiving all these letters. i made several calls to the bankruptcy personel at first franklin. wanted to be sure they had got everything. the man told me it was ok to let ins go, he would send a crew out to winterize the home that i was free .i kept ins through dec. 09
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Guest

Was it First Franklin or Franklin American? Big difference!

erylflynn P
map-marker Arvada, Colorado

Franklin American Mortgage Misses Closing Date and more

Franklin American Mortgage is one of the worst run companies. They missed our closing date by now 3 business days, not including the weekend.

They are disorganized, disrepectful, and can't even be bothered to contact my mortgage broker when they say they will. My mortgage broker has never had any problem with a company like them, and this is the first time in 4 years that my realtor has had a deal close in escrow. Many of the documents they sent over were wrong as well. I will NEVER use them again, and look forward to selling or refinancing so I can end the relationship with these fools.

We now have had to rescedule our moving, and services twice to accomodate things.

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39 comments
Guest

Unfortunately my loan was sold to them. Still waiting on an answer on whether or not they received my property tax information.....

Just waiting for them to sell me off.

Guest

You have to sit on hold for over 20 minutes to get information about where to make your online payment-for those of you, like me, freaking out looking for the website before your payment is late, it is FAMCHOMELOAN.COM. Everytime I googled online payment, it brought me to a page that said that option was not available at this time.

I kept trying everyday with the same response, finally today I call the number it tells you to call for payments. I sat on hold for over 20 minutes, when the woman finally answered my call she was rude..acted like I was a *** and kept trying to hang up on me. If I wait 20 minutes for your company to answer my call, you *** well better patiently help me and answer my questions, instead I got "Ok mam, is that all? Ok mam..

Ok mam.. Heres another number if you have more problems" What a joke!! I spoke with her for less than 1 minute!!

Get better customer service personnel and maybe a few more of them so the people paying you thousands of dollars a month are treated better!!! :( :( :( :( :( :( :(

Guest

PLEASE HELP! Where do I toto make an online payment?

My loan has already been sold to the service department. Thanks.

Guest

This company is a scam. Do no use them.

They advertise to banks as a lender but in fact they are just another broker. They do not take care of your loan they will sell it immediately. Their website is set up to time out within a few seconds so that when you try to log in you are locked out. You can not get in to set up auto pay or pay online.

They are in the business of trying to destroy your credit and take your property. If you banks wants to run your loan through them find another bank. I though Bank of America was the worst but I was wrong.

I should never have let my wife talk me into refinancing my home. RUN, RUN, RUN!!

Guest

If your assigned to the processor Jihn Dalton. .

. Run, run far, far away!

He will jack your closing, files, life all up! :eek

Bjnorth N
reply icon Replying to comment of Guest-532467

I went thru the same with Mark Barnett in Westminster, co.

Guest

I would not recommend working at FAMC. The pay and benefits are terrible and only the "friends" of management get promoted.

Like Crystal Flores a previous babysitter for Robert Frank JR.(VP at FAMC)that has been working there for years and getting paid for doing nothing... I have never seen such incompetent management.

Avoid this company at all costs. Very racist as well...

Guest

Something has truly gone wrong at FAMC. I've used them in the past to close 3 of my homes with no problems.

Now, this time we set up a double close on a home and both were financed through FAMC. The loan processor was fully aware of the closing dates and the situation at hand. All of our belongs are in storage and have been for 4 days now and our new home is still not closed. In fact, I'm being told that the loan just now went to underwriting.

It's funny as I've been told for the last three days, that we would be closing at any time.

All I have to say is that the lack of communication and organization is terrible now. DO NOT USE FRANKLIN AMERICAN MORTGAGE COMPANY!!!!

Guest

@"Proud to work for FAMC" Typical PR person paid by the company to say something that makes them look good when REAL people state truths about the company and the bad experience they've had. I've seen it all too many times and have experienced the same *** with other companies.

How much did they pay you idiots?

People aren't that ***. They got your comment routine figured out by now you ***.

Guest

Today is Tuesday, March 27, 2012. I am moving from Atlanta to Gulfport, MS and thought everything was going well on our home.

Well my husband was notified this afternoon that his work is considered "temp" even though the verification of employment says probabiltiy of continued employment is "excellent". The shocker is, we were going to rent the home until we close and now that we can't close, we are out of a house and I'm moving in 2, yes 2 days. I emailed the rep. at Franklin American yesterday and didn't get a response, my husband calls & the line is busy, come to find out they are changing their name and moving offices so that excuses them from doing their job.

I would NEVER recommend this company. They have screwed us out of our dream home.

Now I've got 1 day to find somewhere for my family to live. Thanks alot!

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