Submitted Loan App. to Dominion Financial. So Far So Good.

[Bruce Bennett]

--Day 1:  called and tt l/o regarding refi of Quad.  Liked what I heard, decided to move forward. (They have 30 yr terms, Rates in the 4's....hip hip hooray :) Received Loan Questionnaire.

--Day2:   submitted loan questionnaire.

--Day 3:  L/o called to discuss terms.  LO did some clarification on fees:  

Approx $600 cost of appraisal (but that is out of their hands)  

+ 2% orig fee.

+ 500 doc prep 

+ escrows  (YES THEY ESCROW, WHICH I PERSONALLY HATE) (LO uncertain abt the number of months of escrow that will required at this time.)

+ cost of title work (I select the title co).  

Authorized them to order the appraisal.

--Day 4: Received list of required documents.  

That's  where I'm at.  I'll keep u posted, but so far so good.  Great actually.

[Bruce Bennett]

This is the same Bruce that posted the initial post to this thread on Oct 7 2021 having just started my loan app with Dominion at that time. Heres my followup:

DOMINION is the worst worse worse lender I have ever tried to do business with.

————If u can, immediately go somewhere else for the money—-STOP AND RUN THE OTHER DIRECTION. DO NOT LOOK BACK.   They will waste your time and if u let them, steal your money.  I wish I could show you my loan paperwork from closing…..THEY are a predatory lender.  After 3 lonnnnnnnng months and I mean from Oct 7 2021 till Dec 29 2021, they sent predatory lending docs to closing for me to sign, and I rejected them and walked away from closing.   Their loan had a 5 year prepayment penalty that started at 5 points and reduced 1 point per year.  My origination fee was 3%.  I would have had over $18000 in closing costs on on a 270000 loan.  That is egregious.  And they never said a word in those 3 mos about what would happen if you are late or go into default.  I wish I could just upload my docs from closing to u it would freaking frighten you.  

And they start out by sending you the same BS boilerplate email every stinking day abt:  have u sent in your required paperwork yet, how can we help u.  Literally all my docs were sent to them in 10 days, and I received that email for 43 days straight.  Id call and  ever ever ever get my processor Kimberly for over a month on the phone just the same email over and over again.  I never got a chance to speak with her once.  Then they told me she was replaced by a new processor.  In the interim my loan officer Delshawn would pitch in by forwarding my emails around to get me answers but he never mentioned once that it was a predatory loan to begin with.  It took them 60days to get a freaking appraisal!?!?! 

After finally getting to closing 87 days later and seeing the predatory loan they approved me for i could have cried because of all the time and effort and energy i put into that process.

The following month i contacted Valley National Bank and closed on a new 5 yr loan at 4.25% and 25 yr amortization.  And they used my old appraisal I had done when I was working with Dominion.

If u Want a real loan and great rate call my loan officer at Valley Natl Bank:  Chuck Drayton 904-318-5176 cell or 904-899–8021 office.  No BS, I couldnt be happier.  Finally.  Tell him I sent you.  Not for any type of kickback or anything, I just want good banks/lenders and good LO’s to be successful and stick around because u can best believe I am calling them first on my next deal.