Velocity Mortgage Capital Russell Ranch Rd, Westlake Village, California

Velocity Mortgage Capital Reviews

2.8 stars based on 11 reviews

Featured Comments:

• S

  Sarah Johnson

  5.0

  This is a great company! They were able to do many deals for my clients that other lenders couldn't, I am extremely satisfied with their professionalism and knowledge and will definitely continue to do business with them in the future.

• S

  S. Tony Joaquin, BAP, MAT, DD

  1.0

  I entered into a mortgage agreement with Velocity Mortgage on 10/31/2019. The loan was for $633,750.00 To qualify for the loan, Velocity informed me to: 1. Place the properties under an LLC 2. Have my father on the LLC 3. Have the persons living at the properties (My Dad, My Mother in law, and my wife) sign leases on the property. The loan servicing was transferred to Mr. Cooper on 11/08/2019. In March of 2020 COVID hit and I reached out to Mr. Cooper for options. They stated at the time I couldn't really do anything. In April they stated that I needed to go back to Velocity that they would let me know what options they had. They NEVER told me there were no options because it was a commercial loan. They stated they were looking at my options. In July of 2020 they send me a 10-day Demand Letter When I called they stated I could bring the account current I would then qualify for a Modification of terms. I paid it on 08/04/2020 65,184.39 Gloria Jane-Myer stated the funds went to Mr. Cooper and they needed to release it to them. We sent proof of the wire. I then got a notice of Foreclosure in November of 2020r. They have been going back and fourth with Velocity and Mr. Cooper waiting sometime weeks for payoff requests. I was trying to get a loan but the lis-pendent and the delay in receipt of the payoffs from Mr. Cooper has made it impossible to receive this information. Velocity also requested Payoff requests from Mr. Cooper and they waited weeks before responding. engaged Loan Lawyers to assist with the matter but I recently was told that I have a final Judgment Scheduled for 07/07/2022. And Velocity STILL hasn't given me options from when I asked in March of 2020 for any Loss-Mitigation efforts. I am unable to secure a loan because of the lis-pendant which would fix this issue. I'm now having to do a Bankruptcy to keep my home, my mother in laws home and my fathers home. I just keep being told because they advised me to put the properties in an LLC to protect it, I now am in a position to loose it ALL. It isn't FAIR! I work in the mortgage industry and I train on Loss-Mitigation efforts. None of which were done by Velocity Mortgage, Mr. Cooper, or the NEW Servicer as of 04/01/2022 PHH Mortgage AKA Ocwen.

• R

  Ray Alvarez

  1.0

  By far the worst loan you can get in the market!!! Crazy fees!!! Stay away!!!! This business deserves negative stars!!!

More reviews (8)