Cendera Funding

We were initially dealing with a mortgage company in Dallas, which was so frustrating and unresponsive that I finally called Cendera because of a letter received in the mail. We were pretty-approved within 2 hours of submitting the original paperwork. From the time I first contacted Cendera, we closed in la little over a month. The only problem we encountered was that we had requested a 3 week close, and the close took about 4-1/2 weeks. Part of this was due to the original company continuing to submit information after I had told them we were going with someone else, so it wasn't all on them. Luckily we had a great credit rating and debt ratio, So the loan was fairly simple. In the end our mortgage was sold to a bank I had initially contacted at a rate lower than the bank provides on direct loans! The mortgage rep was very easy to deal with, as we're all the employees at Cendera.

I went with Cendera after calling around and getting quotes from other brokers and they had the best deal. My real estate agent recommended them because she had worked with a particular guy for years and years and she trusted him to get things done. The start of the loan process was fine. I filled out all the paperwork and we submitted for loan underwriting. I didn't hear back for several weeks. My closing date was approaching and still no word. I take responsibility for not calling and checking in on the loan and ensuring everything was going according to plan, lesson learned. However, I would expect to have the company that I am paying thousands of  dollars to actually submit the paperwork for underwriting...As it turns out my paperwork was not filed and sat on someones desk until I called to check up on it the week I was supposed to close. Their website states front and center "We close on time." They do not. I had to get a 2 week extension. I am a reasonable person, I understand people and companies make mistakes but I also would expect the company to compensate me for the lost time and their mistake. This was not an unusual loan that required more investigation with my credit score being 800. They simply messed up. I sent an email to my representative and to his bosses explaining the situation and requested that my rate be lowered and a discount to closing costs. I received no acknowledgement of my letter from management. My representative was very apologetic and embarrassed however he stated there was nothing he could do with reducing costs or lowering my rate. My rate lock expired and they did extend the rate I was originally quoted, however, the rates had gone down! Thanks for letting me keep the higher rate! Closing on time is a big deal with real estate. They were completely negligent with not even filing the paperwork and then to not even reply to a complaint from a customer is just the sign of the times. My advice is to find another mortgage company.

OVERALL IT WAS A GOOD EXPERIENCE. WE ARE SAVING A LOT OF MONEY AND ARE ABLE TO PUT A LOT MORE MONEY TOWARD OUR PRINCIPAL EACH MONTH. HE IS VERY NICE AND PROFESSIONAL.