Reviews
3.24 Reviews
Showing 1-4 of 4 reviews
Gerald S.
06/2012
mortgage broker
 + -1 moreMy wife & I were recently denied a refinance loan at this bank for $235,000.00. They drew us in with a no cost 3.25% APR on a 15 year loan. The application fee was $395.00 and the rate lock was $300.00. I told the rep everything up front. We are retired, intend to pay off the house in three to four years but until then, we wanted a lower rate so more of the payment goes to the principal. He said great, asked a lot of questions. Bottom line, he said everything looked great. He collected the money and off we went. The house appraised at more than 3 times the amount of the loan. Then we hit underwriting. They denied the loan based on our credit report and that we didn?t have enough Social Security income to make the payments. I got a copy of the credit report that they used. (By the way, I never heard of this reporting company). The credit report was spotless. Never late, not one negative mark. Our credit scores are both well above 800. As far as income, how do they think we have been making the monthly payments to GMAC for the last 8 years? Plus we always add an extra $100 to the monthly payment to reduce the principal. They would not consider any other assets other than Social Security. We are both old enough to draw from our IRA?s which have at least 4 or 5 times the amount required to pay off the loan. Plus, we have an internet bank account with a large amount of cash that we can draw on. We got the $300 Rate Lock fee back but they kept the $395 application fee. I have concluded that, they never intended to make this loan to anyone. What a scam, 1. Offer the loan with excellent terms 2. Collect the money 3. Deny the loan 4. Keep the money. I think Fremont Bank has figured out how to generate a new income stream. We just related this story to our investment rep at Fidelity and his comment was ?They turned you guys down for a loan? You have to be kidding!) He is part of Fidelity?s professional management services. I told him to never recommend Fremont Bank to anyone.
Description of Work: Mortgage Refinance
| Rating Category | Rating out of 5 |
|---|---|
| quality | |
| value | |
| professionalism | |
| responsiveness |
$695
Hans V.
04/2012
mortgage broker
 + -1 moreThey have excellent customer service. They notify me when interest rates go down and offer me refinancing which is nice. There's a local branch here that I can go to and they're also very courteous.
Description of Work: I purchased a mortgage through them.
| Rating Category | Rating out of 5 |
|---|---|
| quality | |
| value | |
| professionalism | |
| responsiveness | |
| punctuality |
Yes, I recommend this pro
RONNIE E.
01/2010
mortgage broker
 + -1 moreFremont Bank is staffed by unprofessional and uninformed staff. I will never do business, of any kind, with them again and I strongly suggest that no one else does either. Don't be fooled by the rates that they offer on their website. You can do a lot better on-line through other mortgage companies or through a good mortgage broker. Needless to say I am in the process of re-financing this loan with another company. See comments above - don't do business with Fremont Bank.
Description of Work: Having previously easily refinanced with Fremont Bank on-line I applied again recently to re-finance in order to cash out for a remodel. I applied on-line and the first contact I received was from Michael Perez in the loan department, telling me that they were not in fact offering the rate shown on-line. The excuse was that they did not offer that rate for a loan under $150,000. I pointed out that this was not on their website and they eventually conceded and offered the advertised rate. I provided all the documents that they required via fax, confirming that all pages were faxed successfully to Ms. Indira Tandel of Fremont Bank . The rate lock period was for 30 days. 30 days came and went and I did not hear from anyone. I finally called them, left a message with a nice woman who agreed that they should have been in contact with me and eventually heard back from Michael Perez in the loan department. He informed me that there was a question about my flood policy zone, a question that had been raised in the past and was responded to. They claim that the flood zone designation on our flood insurance policy, issued by Century National Insurance is incorrect, which is NOT the case. I forwarded supporting documentation from the National Flood Insurance Program, the City of San Mateo, Century National Insurance and a history of the flood policy in correspondence to Tony Garcia in the loan 'servicing' department. I never heard back from him. A few weeks later, I received a letter from Mr. Garcia telling me that because I 'had not returned all the documents' that they (originally) requested for my application, it was being closed. I sent Mr. Garcia an e-mail stating that I had in fact sent them everything via fax (noted above) and that they had no reason to refuse to process my application. I specifically asked him to respond. He never bothered to do so. They were very happy to keep my $375.00 loan application fee; as part of the loan application process I also had to pay a $460.00 appraisal fee as well.
| Rating Category | Rating out of 5 |
|---|---|
| quality | |
| professionalism | |
| responsiveness | |
| punctuality |
$800
JOHN K.
09/2005
mortgage broker
 + -1 moreOUR EXPERIENCE WITH FREMONT BANK WAS EXACTLY AS DESCRIBED, INCLUDING THE AMOUNT OF TIME TO GET APPROVED WHICH WAS 6 WEEKS. OVERALL, THE EXPERIENCE WAS POSITIVE.
Description of Work: WE CHOSE FREMONT BANK FOR THE "NO FEES LOAN". THEY SET UP THE WHOLE PROCESS, IN ARRANGING FOR US TO REFINANCE OUR MORTGAGE.
| Rating Category | Rating out of 5 |
|---|---|
| quality | |
| value | |
| professionalism | |
| responsiveness | |
| punctuality |
Yes, I recommend this pro
$270,000
Contact information
39150 FREMONT BLVD, Fremont, CA 94538
Licensing
State Contractor License Requirements
All statements concerning insurance, licenses, and bonds are informational only, and are self-reported. Since insurance, licenses and bonds can expire and can be cancelled, homeowners should always check such information for themselves. To find more licensing information for your state, visit our State Contractor License Requirements page.
*Contact business to see additional licenses.
Service Categories
Mortgage Companies
FAQ
FREMONT BANK is currently rated 3.2 overall out of 5.
No, FREMONT BANK does not offer free project estimates.
No, FREMONT BANK does not offer eco-friendly accreditations.
No, FREMONT BANK does not offer a senior discount.
No, FREMONT BANK does not offer emergency services.
No, FREMONT BANK does not offer warranties.
Contact information
39150 FREMONT BLVD, Fremont, CA 94538