CENDERA FUNDING

We contacted Mr.Phil Clark with regard to our mortgage for the new home we were looking to purchase. We had 10 days for our option period wherein we could opt out without paying a penalty. He knew from day one that we had only 10 days to get the mortgage. We asked him repeatedly if he could do this in time - he assured us that he would deliver. Well, on day 9, he e-mailed my husband to say that things "may or may not" go through. On calling him, he said that 10 days was too short a period to get a mortgage set up. He admitted to "missing" the fact that we had only 10 days. He kept saying that no one would be able to deliver in 10 days time and that we just needed to wait and he would call us as soon as he knew. He never called. Instead, when my husband and i repeatedly called, he didn't pick up his phone. So i decided to call the Colleyville branch listed on his business card - imagine my surprise when they had never heard of a Phil Clark! Then i called the Keller branch - same thing - no one knew a Phil Clark! Then i put in the address on his business card(an address in Colleyville) into Google Maps. Imagine my shock - it was a house!!! I was not about to lose out on a home that my family loved so i emailed the owner Brian explaining the situation. His email id was provided by the Colleyville branch manager who was very understanding and helpful. Subsequently, i was contacted by another Loan officer Linda Lane and another branch manager David Wilcox. There was a lot of miscommunication and missing details and missed deadlines. We got an extension on our 10day option period. Didn't matter as our loan was subsequently rejected. After adding my father-in-law on as a guarantor, we got the approval on the last day of the new deadline. When we were in the initial stages with Phil Clark, we had also contacted Wells Fargo for our mortgage. We had submitted paperwork to Cendera and also to Wells Fargo. We subsequently dropped Wells Fargo and went with Cendera. Now, Cendera also goes through Wells Fargo. (Small companies like Cendera sell mortgage to big lenders like Wells Fargo and other banks). When things weren't moving along with Cendera, we contacted Wells Fargo again and explained the situation. Imagine my surprise when the loan officer informed us that we had already been approved!They had not told us we were approved as we had dropped them. They did not need us to get a guarantor or anything. We are not first time home buyers, our credit scores are excellent and finances are in decent shape. Both companies had received the same paperwork from us. How is it that Cendera Funding could get Wells Fargo to approve our loan only with a guarantor and that too after about 20 days when Wells Fargo could approve our loan within under a week????? Overall, we found Cendera Funding to be unprofessional and incompetent.

Samie listed my house on the MLS system, gave us a lock box for the keys, and a sign to put in our yard. She advertised for our open house in the paper. She helped us do the paperwork on a lease to purchase for our house. Then, she helped us write the offer on the house we wanted to purchase. The offer was accepted. She got us an unusual loan called a 20-80. So, when we pay off our twenty percent mortgage, our payment will decrease considerably. It made sense for us because our renters would be buying in one year, and we would have money to pay the 20% loan off completely (without refinance). She spent an incredible amount of time and effort with us and gave us a great deal. The mortgage fees were less than other places and she offered us a smaller fee for selling our own house. When things didn't go smoothly on closing day, she was by our side to deal with the complications. (It wasn't her fault). We closed one day late, but it was worth it. She was able to negotiate an even better percentage rate on the 20% loan because they had messed up the papers. We love our house!