Weichert Financial Services

I can’t express enough how terrible my experience with this financial institution was. I decided to use them after my first mortgage company could not issue me a fha loan based on the property I was purchasing. The first phone call with barbara beck was great. She gave me an amazing interest rate and seemed very knowledgeable. Boy was that a front! When signing paperwork online my interest rate was much higher and when I questioned her about it she blew my concern off. In fact all of my questions were blown off as if she had something much better to be doing. She couldnt give me a clear monthly mortgage payment, she couldnt provide me with an exact amount that i would need at the closing table, it was an absolute mess. It would take her days to return my calls, emails and texts only for her to still not know what is going on.
As for underwriting is concerned that’s a complete joke. They had no idea what they were doing. I was asked for documents as part of the normal process and i would send them, then asked for them 2 or 3 additional times!
I would find a different institution that will better suit your mortgage needs.

HORRIBLE Moving to NJ: We were satisfied with our Weichert Realtor, so when she suggested we take advantage of «One stop shopping», we did; that is, we applied for our mortgage right there in the same office when our purchase offer was accepted. We initially checked reviews and they were mostly NOT favorable. Their agent replied that «well, people never go online to compliment, only complain, so that’s what you’ll see for any lender». From start to finish, wait, we are not even finished yet and we closed 4 months ago (more on that later), So from start to finish, it was the most difficult, grueling, stressful process we have ever endured. They delayed our closing multiple times. Every morning we would wake up to 30 more document requests. More bank transaction explanation requests. More employment verification! Two different people called my HR rep 3 times AFTER I explained that this Fortune 500 company has policies against it. My employer provides a professional format for verification, which was always sufficient for everyone else, but not Weichert. Even after 30+ years of 2 excellent credit ratings, no employment gaps, about 14 mortgages & many car loans paid up with no defaults, this nightmare continued. Then the appraisals — 3 of them — each one denying the loan for insufficient appraised value. We’d never heard of this happening before, but the underwriter thought the first appraisal he was given was too high, so he enlisted another appraiser. Then repeat, he sent out a field appraiser. At this point in the loan, we were paying a daily fine to the sellers for the multiple delays, or we would have lost the house. At this point we were begging Weichert to just deny the loan and let us move on — daily, because with each day that passed they decided we needed to keep justifying bank activity! Each time, we were threatened that if we pulled out of the application now, we would lose our $ 65,000+ down payment. We stayed with friends, we stayed at a hotel almost 2 weeks, the sellers had already moved out, and there we were, dealing with BS day after day with all this funding to exist, homeless, pouring out of our bank account. It gets better: One day they actually said we were closing. So we went to our attorneys office for the now anti-​climactic event, signed all the documents and off we went. Next day our attorney calls to tell us there was an error in the paperwork and we have to come back to resign. Apparently, the bank had some of the details wrong so the closing had to be re-​executed. 2 weeks later, another call from our attorney that we signed the wrong document, which the bank sent to them and had to re-​send. And now, 4 months later we get a call from Weichert that there are still some outstanding signatures needed that btw, we need to back date to the closing. Meanwhile, we were also waiting on our application fee refund which had been promised when we closed, to help softened our troubles. We said «no, we are not signing until we get our promised refund» Guess what! They never intended to give us that refund we found out, because our rate got lowered by a ¼%. We held our ground. We would not sign until we received that money, which had nothing to do with the Fed lowering the rates at the right time! Guess what we were told! «If you don’t sign, the bank can withdraw the funds and you will be in default.» We said to tell them to go ahead and see you in court. Return phone call: «We are processing your refund, so please sign the docs and return them». We did. And the reason I mentioned earlier that we are not done? Still waiting for our $ 700 refund. Maybe its because we said we would not lie on legal documents, so they could go ahead and back-​date them themselves. Or maybe it’s because this group has no integrity, along with their incompetence and insensitivity. Maybe someone there thinks they are Sherlock Holmes and was sure they were going to catch us in something bad. And PS, if you want to experience financial software technology, avoid Weichert. They don’t even use anything like Docusign. It was all: print out, sign & fax back. Nightmare!

They do not know what they are doing. Period.

This is one entity I wish I could give ZERO stars to as they don’t even deserve one. What a nightmare financial company to use for a mortgage. The buyer of our property missed 3 mortgage commitment dates because of Weichert Financial. I received confirmation from the bank it was their fault not buyer (so no ifs, ands, or buts on who is to blame).
Fast forward to closing date, they have, of course, now missed 3 closing times over two dates. We are sitting here wondering and waiting if the deal will even close. What a horrible, awful financial company.
We used Sun Home Loans in Florham Park and they were problem/​stress free.

Stay Away! They are very unorganized, our loan is taking over 3 months to close. Do not work with this company!

I had a good friend who was unbelievably shafted by Weichert Financial. They told her that her mortgage was approved by late September, and from there on it was like a Three Stooges routine. They issued contracts with the wrong house number on them. Contracts with the street address spelled wrong. She jumped through all of the hoops. And then, on November 16, the closing day that had been set for weeks, that was the day that Weichert Financial told her they’d made a mistake and the underwriter had changed his mind about the mortgage. They were incredibly incompetent. Let the buyer beweare.