Colorado Housing and Finance Authority (CHFA) Blake St, Denver

Colorado Housing and Finance Authority (CHFA) Reviews

• D

  Daniel Nunez
  1

  Hopefully it gets better over the years....initial customer service I’ve experienced hasn’t gone well. Maybe it’s me, idk. Just doesn’t feel like my interests are important. Not a good sign. Follow up....on hold again.. with what seems to be no answers. Just pointing the finger and apologizing. Well, what about the last 2 weeks of being lied to by the Insurance Representatives to only find out nothing has really happened and the so called "talking to supervisor" either didn't happen or make any difference. So I was lied to, to get off the phone....amazing

  Response from the owner

  We apologize for your frustration and appreciate you providing feedback. We would welcome your call so we can learn more about your experience. Please contact CHFA’s Post Funding Manager, Dolores Higgins, at 303.297.7412. You can also submit your concern to CHFA through our Lighthouse Tracking system. You can access Lighthouse on the Contact CHFA page: https://www.chfainfo.com/pages/contact.aspx

• K

  Karen M.
  1

  Not at all happy with the service I received from this company over the 10 years I have had my loan. It seems to have gotten a lot worse. If you miss a payment they start with letters and phone calls saying they are going to take your house. They are very rude on the phone and get multiple calls a day. After you make the payment the calls do not stop till 3 days after. Heaven forbid that you have a medical emergency or the like. Try to find a different loan company and one that wont sell your loan to them.

  Response from the owner

  We appreciate your feedback and for making us aware of your experience with CHFA. We apologize for your frustration and would welcome your call to learn more about your experience so that we can use the information to improve our processes, staff training, and answer any questions you may have. Please contact CHFA’s Director of Home Finance, Dan McMahon, at 303.297.7405. CHFA is committed to building and supporting an organization that demonstrates honesty, integrity, ethics, and best practices. If you wish to file a complaint or report an issue or concern, please visit http://www.lighthouse-services.com/chfa.

• J

  Jc Cedillo
  1

  If I could give no stars I would! No need for an explanation just be careful dealing with this company and the “assistance” they offer. They make life very difficult and offer no type of understanding or help even if they are the ones that make the mistake.

  Response from the owner

  We apologize for your frustration and would like to learn more about your experience. In order to research and assist you while also protecting your privacy, please submit your concern to CHFA’s Lighthouse Tracking system either here https://www.chfainfo.com/pages/contact.aspx or via email to [email protected]. We appreciate the opportunity to help resolve your concerns.

• s

  stephanie Tafoya
  1

  Awful customer service, no one knows what is going on. They never follow through with issues or concerns. I have had flood insurance for two years now and they are still trying to issue a fine and issue they're own flood insurance which is 3 X more expensive. I am finally re-financing to get rid of CHFA.

  Response from the owner

  Thank you for your feedback. We apologize for your frustration and would welcome your call so we can learn more about your experience. Please contact CHFA’s Post Funding Manager, Dolores Higgins, at 303.297.7412.

• M

  Mellie Belly
  1

  I purchased, and then sold, a home as my primary residence with CHFA as my lender. Their mortgage servicer, Dovenmuhle Mortgage, is horrible to deal with. Over the four years of my loan, there were year-to-year escrow shortages, no attempt evaluate removal of PMI, even though the county raised the value of the home TWICE, showing a marked increase in equity. For the record, my payments were made on time and without applying for assistance or restructuring. They give you a two-week grace period to receive payment, but will start calling you long before that, using debt collector verbiage, calling multiple times per day, often after payment has posted in their system. I actually had to send a formal cease and desist letter to get the calls to stop. A month after selling the home, I still have not received a check for the balance in my escrow account, which was allegedly cut and sent out at the end of last month. In addition, two PMI disbursements were made, but no one can tell me which months they are for, only that PMI is paid in arrears. I understand that, but certainly it's not too much to ask how exactly MY MONEY is being applied? I have contacted the FHA and the State Attorney's Office for what appears to be, at the very least, inappropriate practices, and at the worst, fraud. An interesting tidbit: any company who deals with government loans is subject to compliance with FOIA (Freedom of Information Act). So if CHFA or their loan servicer fails to provide you with the requested information (as in this case) by all means, file a FOIA request online, and select HUD as the agency. CHFA says they want to help people become homeowners and protect them from predatory lenders. I beg to differ. Their actions over the past four years of dealing with them show me that their customers are a nuisance to them. I understand the extreme difficulty of trying to buy a house in a market like Denver, but I would avoid this organization and look for other ways to apply for an FHA or VA loan, or other assistance programs. UPDATE 5/28: I have indeed been working with a completely ineffectual staff member at CHFA's Denver office. After waiting another three days for the escrow check that never arrived, I demanded another be issued and sent with tracking, along with the detailed information I requested regarding the unnecessary PMI disbursements. That information arrived two days later--a simple print out with the line items highlighted. Gee thanks, that highlighter really helped! I still do not know for which months in arrears the PMI was paid. Nor does anyone, apparently. CHFA is content to send out my hard-earned money to whomever without any accountability whatsoever. Oh, and the check? STILL has not arrived. The reason? The amazing people at CHFA put the wrong address on the shipping label. NO ONE BOTHERED TO CHECK and make sure everything was correct. Again, this organization simply does NOT CARE about their customers. I am in contact with the CO Attorney General's Office, so please, do post another apathetic, generic response to my legitimate concerns for fraud and theft.

  Response from the owner

  Thank you for your feedback. We apologize for your frustration, and are aware that you are currently in contact with a member of CHFA staff who is working with you. Please know that all feedback is recorded and reviewed in an effort to improve our processes.

• K

  Kc Smith
  1

  If you have the option to go with a different company I suggest you do so they have the worst customer service they have the worst time waiting on hold every time you get transferred you have to re-enter all your information! They ask you a bunch of questions that don’t even pertain to the loan if you’re calling to make a payment! if it wasn’t for Chafa lying about me being late on my first two payments I would’ve already had a different mortgage company but that’s how they keep you from moving to a different mortgage they lie about you being late with payments and everything else! so just a heads up stay away from Chafa!

  Response from the owner

  Thank you for your feedback and for making us aware of your experience with CHFA. We apologize for your frustration and would welcome your call to learn more about your experience so that we can use the information to improve our processes, staff training, and answer any questions you may have. Please contact CHFA’s Post Funding Manager, Dolores Higgins, at 303.297.7412. CHFA is committed to building and supporting an organization that demonstrates honesty, integrity, ethics, and best practices. If you wish to file a complaint or report an issue or concern, please visit http://www.lighthouse-services.com/chfa.

• T

  Tiffany Gottlob
  1

  Worst company EVER! If you are looking to use CHFA for the down payment assistance, save yourself the stress and go a different route!! CHFA is great as long as your payments are on time and you're just a silent client. But the minute you have an issue, don't expect it to be resolved. I have been dealing with them for a few months now over an insurance claim. They have lied and mislead me, not returned my phone calls, and straight up scammed me out of almost $9000 (not only me, but the mitigation company that did the work on my home). I just refinanced my house with a different company (thank sweet baby Jesus), and because they have no interest in the home anymore, they refuse to help me. In fact, they told me I'm going to have to get a lawyer. This insurance check was issued TO ME, yet somehow CHFA has the legal right to hold it from me?! I call bulls**t. This company is nothing but a bunch of uneducated, low life scammers. DO NOT EVER TRUST THEM WITH YOUR MONEY. They'll bend you over and you know what....

• A

  Alyssa Gomez
  1

  Avoid if at all possible. We had this as our only option and thought OK. They are the worst. They harass you even before the payment is late, and then when you have a hardship and try and pay they block you from doing it online! I have never seen a place that blocks you from paying a loan online. They will not call someone if you give someone authorization, they make that person call and sit and wait. They call incessantly about anything, personal numbers, work numbers, etc. They don't care if you're at work or not. They are constantly rude and never pleasant. I cannot wait until we refi this loan and get away from this awful company.**Sherry/Cheri --manager-- not sure which way she spells it, is the only or one of the only nice people there.

  Response from the owner

  Thank you for your feedback and for making us aware of your experience with CHFA. We apologize for your frustration and would welcome your call to learn more about your experience so that we can use the information to improve our processes, staff training, and answer any questions you may have. Please contact CHFA’s Post Funding Manager, Dolores Higgins, at 303.297.7412. CHFA is committed to building and supporting an organization that demonstrates honesty, integrity, ethics, and best practices. If you wish to file a complaint or report an issue or concern, please visit http://www.lighthouse-services.com/chfa .

• K

  Kevin Jarvis
  1

  My husband and I have had nothing but issues with CHFA since buying our house in 2009. We unfortunately filed for bankruptcy a few years ago and they stopped sending statements so you can pay by check and took away our online access. The only way to pay is over the phone and we have to pay a fee to do so. I'm obviously struggling and you are making it worse. Then they take 3 weeks to take your money out of your account and charge late fees! Worst company EVER!

• G

  Gordon
  2

  THEY WON'T EVEN ASSIST ME DURING A PANDEMIC. Yes, CHFA's programs are there for you to take advantage of and obtain home ownership in this expensive market. But people should be very wary of their options. In order to give yourself maximum flexibility and CONTROL over your finances, from my own experience, I would seek other options or save the for the downpayment and get a conventional or straight FHA loan if possible. I have been in the mortgage industry for about a decade prior, and worked for large banks and investors-so I am familiar with predatory lending practices. CHFA thus far is fairly rigid and unyielding in their investor guidelines. If you are looking at using the downpayment assistance and taking the silent second lien route, please read and heed my advice/experience: I decided to take the silent second option, with the intent on refinancing after 6-7 months(know that your rates will always be higher with CHFA, but that is the trade off for getting downpayment assistance either via the grant or the silent second lien). I closed in August 2019. When I went to look into their refinance options after I had met the timeline to look into doing a FNMA streamline (which is 6-7 payments and 210 days or so AFTER you close), I find on the CHFA website that effective March 2020, they no longer offer any type of refinancing options. I then go through another lender and get pre-approved for a refi with a lower interest rate that would save me $300/month, which was a BLESSING, as the pandemic was just starting, and I could use that extra money to help my family during this unprecedented time. I needed my silent second lien subordinated; which means that if I were to refinance, the second lien would stay in second line position while my new loan would remain in first position. No changes to the second lien were taken place. This is fairly common when refinancing. CHFA pushed back, stating that they do not subordinate their second liens, stating that I need to read my promissory note. But note-they WERE subordinating second liens, but only when it was to a refinancing product that THEY offered. They no longer offer those refinance products, so they will not subordinate. This is a predatory way of locking borrowers into a loan. I was told that I could refinance as long as I paid the second lien off (of course), or refinanced by rolling my first and second liens into a new mortgage. Now here is the caveat to the second option-unfortunately, when you take on the second lien, you can immediately be upside on your home, based on the value of your home when you close. Most banks will use the appraisal from closing for up to a year. This Loan-To-Value scenario can make it difficult to refinance and banks will put what is called overlays on these loans-oftentimes making it harder to qualify, or requiring substantial money out of pocket-issues that would present challenges to a majority of the homebuyers that utilize CHFA. I was able to get an FHA streamline approval with an outside lender with zero fees on top of a low interest rate. Because of CHFA's selective subordination practices, I was unable to take advantage of this. My other refi options required significant money out of pocket because of the LTV issue. I of course made as much noise as I could about the unfairness of this policy, only to be met with pat responses: "You are welcome to refinance.......read your promissory note" are the basic answers I received from a few people in the CHFA office. I asked them if they would match the terms of my refi with a loan modification (which modifications are no guarantee and actually require MORE work to execute than a simple subordination). I beg of you, if you are researching options, use my above experience in your decision-making and research. Chances are you could be locked into a high interest mortgage longer than you need to, and at this point in time CHFA does not have the willingness to assist in simple ways, even in this pandemic. Be well!