Zack Segur

Review of Treadstone Funding

While I appreciated the quick response time of get...

While I appreciated the quick response time of getting the initial pre-approval all the way to closing on the home(28 days), the service after closing has been poor. When talking with our loan officer over how to finance our mortgage, she advised me to use the recast loan option, as we were buying our new home before selling the old home. Said it was a quick and easy process to give Treadstone/Neighborhood Loans the large principal payment, and the recast would be complete. Called at the beginning of December to apply the recast, and this process dragged out over 25 phone calls until March when it was processed. Each call would further push back the expected completion date. Our loan officer laughed and said it was absurd to request a credit back for each extra month where we paid $400+ in extra interest on the larger loan as compared to the lower recasted loan. Ended up with $300 as a credit, not the $1200 for Dec/Jan/Feb as requested. Be aware that Treadstone starts the loan, while sister company Neighborhood Loans manages your loan, so you don't have the benefit of working with only one company for your mortgage, and have to deal with two.