I'm going to be honest, i closed several weeks ago and my loan has already been sold-off to PennyMac.
This is highly discouraging. If I had known the transfer would have been so abrupt, I would have went with a local lender utilizing the VA loan. Big thumbs down. Here's to hoping transferring to pennymac doesn't impact my credit score.
Response from Veterans United
I am sorry to hear about your frustrations and understand your apprehension Lawrence.
We do state the servicing of this loan is to be transferred on your initial LE (on page 3 of your LE) and that document is generally received at the very beginning of your loan process. Then it is stated on your Deed of Trust that was signed at closing and notified 15 days prior to the transfer via the Servicing Transfer Statement which is mailed out. We aren't set up to keep all loans for the long term, though, we only work with servicers that we have a good working relationship with, which allows us to work together in case of any concerns regarding your loan. A loan servicing transfer in no way is a reflection on your loan or how much we value you as a customer of Veterans United Home Loans.
We understand there can be questions surrounding a loan transfer to a new company, and we want to emphasize that Veterans United staff are still here to support you with assistance if needed. If you have any concerns, please let us know! One of our Client Advocate team members is available to speak with you and discuss ways that we can improve for future customers. Please reach out to us for additional support.
I will definitely be recommending this team to every one I know that will be purchasing a home in the future!!
I will refer anyone that is in the market to Veterans United.
We had a great experience using Veterans United. Our loan specialist, Nick I., was the best of the best. Our underwriter contact, Amanda, also went above and beyond to make our loan process smooth. We will definitely recommend VU to all of our friends and family. Thank you again for helping my husband and I buy our first home together!
It was nice to feel a sense of someone having my back during this process. It gets worrisome when it seems everyone is just out for their best interest but having VU helped me feel as if someone did have my best interest at heart.
Veterans United staff will go the extra mile for you to make your home buying experience as smooth as possible.
The communication was very poor. One example was with the appraisal. I called and asked 3 weeks before closing how the appraisal was going. I was told that the person doing the appraisal was not able to get in contact with anyone to get access which was not true because he had talked to both relators about getting access. I had to call again just before the closing date and found out that nobody knew that it had not been done. It finally got completed and because of that the closing date was moved back 2 days.
Response from Veterans United
Hi Scott, we appreciate the chance to hear from you and we understand that the communication may not have exceeded expectations. We want everyone to feel that we go above and beyond to deliver outstanding service. A member of our Client Advocate is available to speak with you and learn more about what may have caused you to feel this way. By providing direct contact information for all of our Loan Specialist we go to great lengths to ensure you'll have an easy time reaching out for assistance. Our team will be researching your appraisal process to determine what our team may do in the future to help prevent a similar closing delay. The appraisal process is managed directly by the Department of Veterans Affairs, and we understand how the home buying process can become stressful when working to overcome an unexpected delay.
Make sure they understand what you need first off. Then ensure they keep you informed of any changes. Plus be prepared to pay a bigger down payment then expected. We got down to the last minute before the house we wanted was sold so we were left with few options.
These guys went above and beyond for me! Available through calls, text, and email so you can get into contact with your team when you want to. If you are a veteran I highly recommend using Veterans United when buying your home. They will treat you like family.
