Patti A.'s review of Morgan Strause

Morgan Strause

Preferred Members
Balboa Capital Corporation
3.5 star rating 0 miles
Academy/C21 PEAK
5.0 star rating 0 miles
Purpose Funding
4.5 star rating 0 miles
New American Funding
4.7 star rating 0 miles
Customer Reviews & Ratings
Complaint Posted 3/16/2010
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Review 3/16/2010
I am trying to close an escrow with this company and they have been a complete nightmare. First they would not continue processing the loan until they had received a copy of the quitclaim deed from the spouse of the borrower. Usually this is a prior to funding condition. Mind you this is a short sale transaction and once we have approval from the lender we are given a closing date. Because of the delay in processing, we had to request an extension. The processor was fully aware with the date by which we had to close. By the we received loan documents, we only had three days before or extended close of escrow date. We were never made a aware that this company's policy is to take 3 days to release the wire for funding until they were in a position to fund, the day before we were supposed to close. I have been working in escrow for 20 years and I have never dealt with a lender who took 3 days to release a wire. Anyways, based on this company telling me that they will be funding 4 days in the future, I requested another extension to the short sale although we had been told none would be granted. Fortunately, the party that told us we would not be granted any extensions was on vacation. The person who replaced him was kind enough to grant the extension so we can close the day after the lender says they will fund. So today, the day before this company indicated they were going to fund, I email to confirm. I get no response from the email this morning, so I send another this afternoon. Finally, someone emails me back to tell me that no they are now funding the following day. This invalidates the extension. No one from the many that have been cc'd all the emails regarding this transaction bothered to let us know. They had already held up the sale for 4 additional days. No with no explanation they changed the funding date and I will have to go back to the short sale lender and plead not to let the property go to sale. I hope I NEVER have to deal with this company again.
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Additional Business Information
Hours   Phone   (877) 772-7790 Address   575 Anton Blvd., 11th Floor
Costa Mesa, CA 92626
Website Email  
Contact   Michael Thompson Other  
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