Regency Mortgage N Main St, Concord

Regency Mortgage Reviews

• J

  Jus’ Cardo
  5

  Regency mortgage was hands down the best experience I have had with getting information on my first home. My wife and I worked with Meghan and she explained everything step by step, beginning to end. She helped make this the smoothest transaction. I recommend Regency to everyone! Thank you Regency for helping us become home owners!

• I

  Ian Kiraly
  1

  What started as a promising experience with Regency Mortgage turned into a stressful hassle. My rep was Kathy Malloy, who at first, was very responsive and found a loan program that fit my needs. These were my primary reasons for choosing them. However, this is where the good review ends. Upon finding a house and reaching terms with the seller, even after a low appraisal, I received the closing disclosure from Regency Mortgage. The numbers didn't look correct to me, and even though the error would have been in my favor, I asked Kathy to check them and explain them to me. I didn't receive a good explanation, but she assured me that the numbers were correct, and I signed them. On the day before closing, the final numbers were sent to the title company. I was getting ready to go to the bank and get the check for closing costs when I got an email from Kathy stating that the disclosure was incorrect and that I would need much more money than was stated in the disclosure. Good thing I saved up some extra money. Keep in mind, delays at this point could have prevented me from getting a check of the proper amount to have at closing. I then waited to receive an updated disclosure. I reviewed the numbers and they were still not correct. I then received multiple disclosures in a row that were incorrect and had to go back to the underwriter. As if homebuying isn't stressful enough... Finally, all seemed correct. But I asked Kathy why my closing costs were so much higher than expected given the various items I had taken into consideration in my thorough reviews of the numbers. She told me that I would be receiving a reimbursement of the appraisal costs, and that this reimbursement would bring the cost back to what was expected. I was initially surprised that I could get that money back, but she explained that the seller would ultimately pay for that even though I didn't ask the seller to pay any of my closing costs. So I signed the disclosure, got my check for closing costs, and closing went smoothly. Kathy told me to expect a check within a couple weeks of closing. I waited for a payment from Regency Mortgage for a month, and didn't receive it, despite receiving other items in the mail from them (such as a tote bag with their emblem on it and a card signed by Kathy). I reached out to Kathy and asked where the check was. She said it was sent out weeks ago. She then told me that the check would be cancelled and a new one would be sent out. I then waited and didn't receive it. I started reaching out to Kathy each week and she would no longer answer my emails or take my phone calls. Finally, one day I received an email from Kathy asking me why I expected to receive any money from Regency Mortgage. She told me that closing costs were higher due to certain fees and made it seem like I was confused. She attached a document that she stated showed that I was already credited for that money in the closing costs. I wasn't confused. The document was the closing disclosure, which didn't show such a credit. I was furious. After getting the run-around from Kathy for many weeks, she had suddenly decided that I wasn't going to get the money that she had previously said I would receive. Fortunately, I had multiple emails from her that mentioned the reimbursement, including the final email I received from her before getting the closing money check. I forwarded her own email message back to her. She apologized and said she would request a check to be sent out to me. I then waited for the check and routinely reached out to Kathy inquiring about its ETA. I again received radio silence from her until I called the company and talked to someone else who said they would look into it. I made it very clear to them that I was unhappy that Kathy was being so unresponsive. I received payment soon after. In the end, it all worked out. But not without a terrible experience. Stay away from them if you can, and if you get stuck with them late in the house-buying process, do it all in writing and carefully review everything.

  Response from the owner

  Hi Ian, I apologize for your frustration with your experience with us. It is our goal to do our best for all of our borrowers! It sounds like we were on that same track for you as well! I was able to do some research on your particular experience and it sounds like a lot of this was a misunderstanding. To address the refunded appraisal fee, Kathy actually went to bat for you and requested for that to be refunded to acknowledge your frustration (you in fact did not have to be refunded that amount). Upon further examination Kathy also saved you from being charged 2 additional inspection fees at $75 each because she personally drove out to the property you were purchase to see if the seller had installed the hand railing required by the loan program for safety purposes. (This is not something a loan originator usually does). As far as the multiple disclosures, Kathy does recognize that multiple were sent out incorrectly however part of that was due to the fact that the selling agent was traveling which lead to miscommunication with the title company. We apologize that you felt that after closing you were getting the runaround by Kathy but she in fact was on vacation with her family and trying to reach out to the right parties in the office to find out what was happening with the appraisal fee refund. We do appreciate you taking the time to express your concern but after researching we feel that with the refund we have done all we can to amend any frustrations. Amanda Methot - Director of Marketing