Peoples National Bank (Colorado Springs, CO)
2 out of 5 marks
We deeply regret having used Peoples National Bank and Mortgage for our financing needs. The reasons for this are many but essentially this is the consequence of lack of communications, collaboration, and status information coming from our the Branch Manager and Mortgage Banker. This is particularly ironic since your website (www.newloaninfo.com) states the following: "That is why we take the time to get to know you and your unique financial goals." In our case, our loan officer made no effort to meet with us (despite us living just a few minutes from his office), he failed to call us (even when there were issues with the loan), he failed to explain the forms that we needed to fill out (we had to ask what various acronyms meant), and when we initiated inquiries his responses were either flippant or ignored.
Furthermore Peoples delayed our loan processing on more than one occasion - In one case Peoples cost us a four day delay when they failed to submit our package to HUD on the Friday prior to a Holiday Weekend. The cumulative delays in processing the loan added two weeks to our closing.
In essence, Peoples only contacted us when something was needed. Rarely if ever was an explanation provided. Towards the end of the unduly delayed loan approval process, the interactions devolved into daily emergency requests for information without any relief, explanation, or indication when it might end. (We asked on multiple occasions when we could hope to close. They ignored these inquiries.)
Information coming from Peoples was spotty and limited to our inquiries. At no time did our loan officer explain the forms; they were simply e-mailed to us with sweeping circles scribbled on them indicating where we need to sign. Some forms were complete mysteries to us.
We deeply regret using Peoples Mortgage and the reason for this can attributed to a complete lack of communications from our loan officer