Kiel Mortgage

Our Response –   We recognize that the Mortgage Lending process can be stressful and frustrating.  Adding in the stress of moving and it becomes even more challenging.  When there are Public Records, that existed on this file, the underwriting process is a bit more strenuous. ...

We recognize the underwriting process can be slow and feel intrusive.  Additionally there were multiple attempts by the borrower to secure a lending through other sources. There were 27 credit inquiries based upon the most recent 120 days in the credit profile.  The Public Records combined with multiple attempts to secure financing required additional reviews of the file during the underwriting process.   The initial contact with our office was on May 26, 2017. The “official” Application Date on this loan was July 24, 2017.  The industry average from Application to Funding and Recording for January – July, 2017 for VA Purchase transactions has ranges from 45-47 days (based upon the most recent statistics published by Ellie Mae).  This transaction was slightly more difficult than average.  The file was submitted for “FINAL” underwrite on August 22, 2017.  A Clear to Close was issued on August 31, 2017 and the mortgage Funded and Recorded on September 1, 2017.  From Application to Funding the total days was 39 days.    Kiel Mortgage (CL#[redacted]) works diligently every day to meet or beat industry standards and we do not get any compensation of any kind before a mortgage loan funds and records.  Our motivation is an experience of excellence through the best possible, accurate and honest communication we can provide to the borrower.    We had 1 final challenge with this file that was not addressed in his complaint.  We covered $740 of additional inspections that were required by VA.  There was a mis-calculation between Escrow and our Funding department.  That has since been resolved and escrow has now released Mr. [redacted]’s earnest money.   I’m sorry to see that he feels his experience was less than favorable.  As you can see from the statistics we did a really good job of efficiently completing this transaction.  Sadly, it was not on the timeline that he would have liked and that gives us a pause to review what happened, and hopefully improve upon our customer satisfaction in the future.     MichaelaE[redacted] VP of Operations, NMLS/MLO#: [redacted]Mortgage Brokers Services, Inc. NMLS/CL#: [redacted] | dba Kiel Mortgage | dba Elliott Bay Mortgage 604 Oakesdale Ave SW, Suite B-103 Renton,WA98057 www.kielmortgage.com Direct: (253) 893-71 Toll Free: (888) 778-KIEL (5435) Fax: (253) 813-6801 Email: [redacted]@mbsilending.com CONFIDENTIALITY STATEMENT This transmission may contain confidential information that is privileged.  This information is intended for the use of the individuals or entity to which it is addressed.  Any unauthorized disclosure, distribution or taking of any action in reliance upon this communication is prohibited under State and Federal law.  If you have received this communication in error, please notify the sender immediately and delete all copies of this message.