Houston >Loans > Rmc Vanguard Mortgage Corp
1111 N Loop Fwy W Ste 250, Houston, TX | Directions 7700829.811772 -95.419307
Neighborhoods: Central, Greater Heights
We had a horrible experience with RMC Vanguard. We found them through Lending Tree, and they had competitive rates. Through the sales process our contact Andrew Day was helpful and responsive. We had 60 day closing, so we thought we had plenty of time. As we approached the week before closing, the company stopped responding. We emailed asking for an update, and the Monday before our Wednesday closing were told they didn't know when we would close and had no update (and no reason given). It turns out the reason was ineptitude and error on their part - they did admit they had staff illness etc. At no point did we receive an apology or proactive communication. The only time we received a response was when we called (and often escalated communication). The loan officer working with Andrew, Samantha Hogan, was terrible. She was unresponsive to us or to the title company, and per the Senior Title Manager at First American Title, they sent over incomplete and incorrect documentation, etc. Then, when it finally looked like we would be able to close Wednesday, they couldn't even get the docs over (in spite of multiple promises) until after close of business on Wednesday. We ended up signing on Thursday, closing on Friday for a promised Wednesday close with no complications to the loan whatsoever. As the final blow, there was a document on Thursday after signing I was asked to go in and sign and in the email received from Samantha she stated "Title forgot to have you sign this". The title office said it was not included in the packet. They did not take any responsibility for their errors or issues, no accountability at this organization. I would not recommend them to anyone!
Problem Free Refi – Upon referral to a Southern Calif loan broker, he recommended RMC Vanguard. The appraisal was conservative, on the low side of my expectations, but I have a low loan balance, so it made no difference in our qualifying. I asked the broker to hold off until we could lock a rate under 4%. In about 5 weeks he locked my rate and the ball began to roll. We had no delays or problems of any kind. In less than two weeks the loan was processed and now I will save about $10,000 in the next 5 years. Well worth the effort.
I connected with RMC Vanguard through the Lending Tree website. I spent 2 months moving through their loan process. They approved my financial profile/found me credit worthy for up to twice the purchase price of the house relatively quickly and offered a reasonable rate, which I locked. I am attempting to buy a home in metropolitan Washington State at $304K. The independent appraisal for the property came back at $305K. They shared, however, that they were "not happy" with the comparable properties. They proceeded to deliberatefor more than 30 days on whether they would or would not fund the loan. On the day before the closing date, they would still not confirm or reject whether they would fund the loan and would not say when they would be able to make a decision. RMC's lack of ability to decide whether they would fund the loan or not has resulted in me scrambling to find a new lender the day before closing and potentially loosing the property sale. Buyer Beware.
The property is unique. It is located on a small strip of land in Washington which has very little turn-over. Jamie?s property was a smaller foreclosure that was selling for considerably less than others so finding comparable properties for the appraisal was the problem. We worked for several months with Jamie and did a good job of communicating status and concerns. I am sorry this did not close as planned.
Owen Raun, President, RMC Vanguard
Great Rates, Low fees and actually closed loan on time – Thank you RMC Vanguard and Kiley Vaught. They delivered and closed on time and their rates, service and fees are great! Would definitely use them again
Excellect Customer Service – We have now closed with RMC Vanguard three times since 1999. Jim Backus is our main contact and wonderful to work with. Everyone on his crew is very friendly, professional and up to speed on what is required. And with all the extras now required these days for closing it can get crazy. I know I can always e-mail or call anyone there and get the answers I need in a very timely fashion. We recommend them to all our friends.
wrong phone # – Not sure where City search got that phone # - our actual # is 713 802 6040. And I had previously commented on the post by Jay... dont see that here anywhere,
RMC Vanguard Mortgage--bogus appraisal and high fees – I'll be selling about 35 homes this year all representing buyers as a consumer advocate. I hang my hat at RE/MAX Allegiance and my client used RMC Vanguard Mortgage Corp for their loan.
Their appraisal was inaccurate--too low--and then when I showed them market data of other units closing higher in the coming weeks and great comps outside the building which made the low appraisal painfully obvious they did not adjust their appraisal. If it were up to RMC Vanguard mortgage reviews my client would not have been able to finish purchasing his new condo.
I stepped in to suggest a new appraisal by independent party and sure enough it appraised for full price. However this cost my client an extra $450. This is outrageous! I've sold a lot of home and have never seen an appraisal fee this high. Normally if a 2nd appraisal is necessary a good mortgage lender with a conscience will step in to cover half of the new appraisal. Vanguard mortgage has not been receptive.
So my client's loyalty is rewarded by another snub--albeit an expensive $450 when it was RMC Vanguard Mortgage who had the appraisal wrong in the 1st place even though I showed them it was bogus. When lending institutions are not listening to their customers you know their trouble or already in trouble which is what I learned from googling their name.
As a buyer agent I will do my best to make other buyers aware of what to expect when doing business with Vanguard Mortgage: bogus appraisals, unwillingness lo listen--to incorporate new and helpful data into their assessments and then an exhorbitant appraisal fee to reward their customer's loyalty. pathetic when there are other good lenders out there who care about the truth and service.
Hi Jay, this is Owen, I'm the President. can you contact me? - I'd like to know more about this. I'm surprised we charged a 2nd appraisal fee. Not sure who did the appraisal but we do tons of business around Houston and use only local appraisal companies that know what they are doing. Pressure on buyers and lenders to accept incorrect or inflated appraisals is part of the problem we are now recovering from. You can email me at email@example.com.
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