Oracle Loans Bridge Plz, Fort Lee, New Jersey

Oracle Loans Reviews

3.4 stars based on 5 reviews

Featured Comments:

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  Clyde Hauffman

  5.0

  Good experience. My loan terms stayed the same from the initial loan quote to funding, no "surprises" at closing which is always nice. Will be coming back for future real estate loans since the documentation is very low and helps close fast. Wish I knew about these guys years ago.

• J

  Josh Bond

  1.0

  We applied for a loan and from the very beginning, Paul wouldn't return emails or phone calls in a timely manner. A few weeks later Paul said one of our homes cannot be for sale when buying another property. He asked that I let him know when the listing was removed. I removed the for sale listing. That was the last I heard from Paul. Weeks went by with nothing--I emailed and called. The closing attorney emailed and called. Why didn't Paul return anyone's calls or emails to say he couldn't help? He just went silent. Another reviewer said it best, "Numerous calls and emails to follow up ... went completely unanswered." Paul now claims he submitted me to Athas Capital and they declined me for "occupancy fraud". I went to Athas Capital but they had no record of Paul submitting me! So, I applied directly to Athas Capital and they approved me within a few hours. How is it possible Athas declined me with Paul, but approved me by myself? I actually emailed Paul directly to ask and he responded that Athas threatened him legally--but then he wouldn't show proof of this and said he was afraid to discuss it. I'm worried about Paul's mental well being--this makes no sense. Bottom line: Paul doesn't really loan any money. He front runs your application to companies like Athas Capital, Oaktree Funding, etc. Cut out this lazy middle man and apply directly! In this case, I got the loan through the very company he claims declined me for fraud?!

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  Response from the owner

  Hi Josh, your primary residence being listed for sale raised a huge concern for Occupancy Fraud since the home you were purchasing was newer, larger, more expensive, and located within the same area. The reason this was not addressed prior to submitting your loan application for approval was because you literally listed your home for sale AFTER you applied; had it been listed for sale prior to application we would have been able to address it upfront. Because of these factors underwriting declined your loan and a letter was sent informing you of this. To address your other assumptions and comments; we DO fund loans in-house as long as the scenario fits our lending criteria. In the event a loan scenario falls outside of our scope we turn to brokering the loan with a handful of funding sources who we have built close relationships with. It's about being able to provide our clients with the fund they need. Unfortunately, we weren't able to do that for you Josh Bond for reasons simply outside of our control.

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  David Wilcox

  1.0

  I reached out to Oracle about a commercial real estate loan. The initial appointment and subsequent calls went fairly well however when I presented them with the actual purchase contract for the property so to formally start the loan process they went quiet. The contract was exactly as I had provided them during our intro calls so there was no surprise. The worst part is that numerous calls and emails to follow up after the contract was presented went completely unanswered. I finally looked at other options so I could avoid the continued poor customer service I had received at Oracle.

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