Fifth Third Bank, SCHAUMBURG WEST BRANCH

Worst Mortgage Experience EVER - Very Deceptive
Overall Rating
Office Environment & Staff
Other Services
by myscreenname, Mar. 17, 2011

In November 2010, I called about refinancing my mortgage.  I was quoted a rate and I asked if there were any points.   I was told no.  I actually spoke to two separate mortgage originators and was told no both times.  When I received the Fair Lending Statement it included one point.  I was told this was the condo fee which was disclosed during the application process.  However, they never asked if I was a refinancing a condo when I first asked about points.  Additionally I was told 1)  I don't know how much the condo fee will be  2)  I don't even know if they will charge it.  Maybe I should have known better but to the every day consumer I think this practice is unfair and deceptive.  Subsequently my mortgage originator refused to speak with me and left me in the hands of her administrator.  Two regional managers were aware of this but did nothing to remedy the situation which only lead to additional delays because the administrator had to get the answers from. I assume, the originator.  This process dragged out for 3 months.  They quoted me 3 separate deals during this timeframe.  Each time I checked on the status, because no one called me, I expressing concern about the rate that I had locked in.  I was repeatedly told "Don't worry about it."  Finally, in February, 5/3 approved the mortgage only to call me the next day to inform me the investor would not  extend the rate lock any longer and the 4.25% locked in was no longer available.  Even then, the regional by the name of Scott wasn't man enough to call me himself.  However, he was willing to say "It wasn't all our fault" but provided no details nor did he follow up on information I provided him about the delays.  Through this process employees have lied, left out information and did projections on account benefits that conveniently left out associated costs.  If a bank were willing to stand by it's commitments they would have volunteered to take the loan in house are the rate promised the customer.  They left me hanging and cost me $300 per month plus.  I will never do business with Fifth Third again.  I was told Fifth Third spent $7000 in rate lock extensions throughout the process.  For that investment they ended up losing my Home Equity loan.   Any investors should be wary about a business that incurs costs that high and still can't close the business!
This review will be added to every branch in the region since the employees involved cover multiple locations.


* this reviewer has be with this bank for 3 - 10 years
* this reviewer had 3 - 5 banks before.
* this review was made on Fifth Third Bank, Schaumburg West Branch at Schaumburg, IL
0 of 2 people found this review helpful. Was this review helpful to you? Yes, No   Report Abuse

0 comment. Add a comment

Bank is Fine Except For Employees
Overall Rating
Interest Rate and Cost
Office Environment & Staff
Waiting Time
Other Services
by bebopxx, Jan. 20, 2011

Specifically this branch -
Nothing wrong with The Fifth Third Bank itself. It's the inadequate human
tellers that work there. Constantly I have had errors with simple deposit transactions... completely due to human error! Banked for over 20 years prior w/CitiBank & never encountered a single human banking error.
I'll never deal with the Schaumburg west branch ever again. They either need new management or a complete over-haul of whom ever they have working as tellers!!!!


* this reviewer has be with this bank for 3 - 10 years
* this reviewer had 3 - 5 banks before.
* this review was made on Fifth Third Bank, Schaumburg West Branch at Schaumburg, IL
2 of 6 people found this review helpful. Was this review helpful to you? Yes, No   Report Abuse

0 comment. Add a comment