Complaints

This profile includes complaints for Lower.com's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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  Lower.com

  8131 Smiths Mill Rd New Albany, OH 43054-1183

• 

  Lower LLC

  8621 Robert Fulton Dr STE 150 Columbia, MD 21046-2637

• 

  Lower LLC

  8621 Robert Fulton Dr STE 150 Columbia, MD 21046-2637

• 

  Lower LLC

  8621 Robert Fulton Dr STE 150 Columbia, MD 21046-2637

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:08/10/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Lower llc/ ******** ******** ******* had the mortgage and escrow account for 3 years. After the transfer of the loan a month ago to the new provider I received a tax lein on my property that had been filed. Lower llc didn’t pay the bill and now that it’s transferred they claim no responsibility. New company says they don’t handle that as well. I don’t feel the fees and daily per diem are my responsibility. The principal amount of the taxes I am good with paying. I do not feel paying the fees and interest since they were billed. I only received the tax lein after the fact. I want them to pay the interest and fees.

  Business Response

  Date: 08/14/2023

  Hello ****,
  We strive to provide the best service for all individuals and your feedback is taken seriously. We
  apologize for any shortcomings in your experience during loan servicing. We were able identify a second tax parcel that was not included in the origination of your loan. We have communicated with ***** and provided the second parcel information. ***** should be making the correct adjustments. 

  We will be in touch with you directly and if you would like to speak with us again in the future, please feel free to call
  us at ###-###-#### or email us at ************************** Thank you - Lower
  Serving Team

• Initial Complaint

  Date:06/20/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I am transitioning out of the Army due to a Medical separation and moving out of state so we started to look for a home, we were recommended ** ***** with homeside mortgage as our loan officer.

  When we started the loan application I was told that i could not use my active duty income since I was getting out within the next couple months, I already had VA proposed ratings memo with total amount id be receiving so they said I can use that as income and that I also need a job offer letter not a problem I secured a job April 25th and let the loan officer know, he requested a few more documents like a DD-214 which I did not have at the time because I was still active duty so then he asked for a statement of service (not sure exactly why that was needed)

  after that I didnt receive a response from him for 5 days so we were looking for another lender I let him know we went with someone else and he let us know that he would like to continue working with us and for us to not be out $1000’s of dollars in case the loan fell through and that we have a lot of documents already with him so we continued services with him.

  April 27th I sent him a DD-214 worksheet which is exactly how the official dd214 would look and I sent him the VA ratings memo, and job offer letter. He gave us a pre approval letter April 28th and we started searching for homes. All the documents were given to him and there were no issues he never mentioned not being able to use the VA ratings memo until it was being sent to underwriters that we started having a bunch of issues with the VA ratings memo they kept going back and forth on whether or not they are accepting it.

  I didn’t really hear anything over the next week or so until I was told may 22nd that we may not be able to close on the 9th of June because of that document I asked multiple times do we need to push our movers back do we need to push our move out of housing date back, I wasn’t given a straight answer.

  I called the VA myself and asked them can they use the VA ratings memo to underwrite the person I spoke to said yes we see this all the time we have no issue. I also had them update my COE. I notified the loan officer and he responds with “Fantastic” so they remove the funding fee from the loan and proceeds with sending us documents to sign.

  We were sent a pre disclosure on May 26th. We were told we’re good to close on the 9th of June so we proceeded with our move out date and made it to South Carolina. We were staying in an Airbnb for a week until our closing date.

  On June 6th I got a call saying we can’t close they won’t accept the VA ratings memo so we have to move closing to the end of the month. So we tried the route of asking the seller if we can rent the home from him until we can close at the end of the month he said no. It was our last day in the Airbnb and we had no clue what was going to happen so I asked the loan officer how many days we should get another Airbnb they’re non refundable he said until the end of june based on the timeline

  so we went ahead and booked an Airbnb mind you were a family of 5 and living in a hotel is not a great option we also were told it’d be until the end of the month so an Airbnb was just a better option so we could have a sense of normalcy. The seller asked if there was a way he could help and got lindsey graham ( the senator) to send a congressional letter to the VA.

  I received a call from the VA June 9th at 7pm and she let me know they got the letter and that we can use the VA ratings memo they use them all the time. I notified the lender and we got a clear to close for June 14th.

  Now we are out $3500 because the Airbnb is non refundable and they could not let us know ahead of time before we left our home that we would not be able to close on the 9th. I have tried to ask them for help in this situation but all the loan officer is saying is it’s not my fault I did nothing wrong I told you from the beginning that it wasn’t good enough but you wanted to proceed. That is not true at all. We had no knowledge the lenders underwriters would push back on the VA ratings we were strung along this whole process with them telling us all the paperwork is good and now we pretty much threw away $3500 and they do not care about the situation they put us in we have 3 small kids and this has just been an extremely difficult process with this company.

  When I also mentioned to the loan officer that I had spoke to the VA myself they said they never received my loan file his response was “I don’t know what that means” so how could they “push back” on something they were not given a chance to look at.

  Our closing date never should have been cancelled and we should have never had to spend money on an Airbnb because they neglected to send the loan file to the VA for approval.

  Business Response

  Date: 06/29/2023

  To whom it may concern:

  
  Thank you for escalating Mr. ********* ********** (“Borrower”) concerns to our offices. The documents submitted to our attention by the BOFI were escalated to Lower’s Compliance and Customer Care Departments for review.  After a thorough investigation and consultation with the relevant parties involved with the transaction, I would like to provide an explanation of our actions in accordance with federal regulations and VA guidelines.

  
  Firstly, it is important to note that as a lender, we are obligated to comply with federal ability-to-repay regulations, as outlined in 12 CFR §1026.43 et seq. These regulations require lenders to exercise appropriate due diligence to ensure that customers can repay the proposed mortgage debt responsibly. Our actions were in accordance with these regulations to protect both the Borrower’s interests and our institution's obligations.

  
  Furthermore, with regards to the "VA ratings memo" mentioned in the complaint, it maintained conspicuous disclaimers stating that any disability compensation referenced in the memo was an estimate and not a final amount. In light of this information, enhanced due diligence was necessary due to the Borrower’s elevated debt-to-income ratio (approaching 60%), which could potentially impact his ability to manage the mortgage payment responsibly.

  
  In accordance with VA’s published underwriting guides for disability income, it is stated that the disability claim is to be "completed." Since the memo referred in this matter indicated that the disability income was "estimated" and "not final," it was reasonable for us to conclude that the amount provided was not the final disability income. Furthermore, as the Borrower had new employment without a history of earnings from the new position, Lower’s Underwriting Department followed VA guidance and requested the final disability amount from the VA to ensure that there would be no change to the estimated disability income. This was done in order to prevent putting the Borrower in a potentially poor financial position.

  
  We were pleased that our offices received the final disability amount from the VA on June 9th, and based on this information, the Borrower’s transaction was approved and subsequently closed. It is important to note that no commitments to lend or loan approvals were issued to the Borrower until the loan was fully unwritten and approved, in adherence to our internal policies and procedures.

  
  After thoroughly reviewing the complaint with all associated parties involved, we could not identify any policy or procedural disparities in our handling of this matter. Our actions were in line with federal regulations, VA guidelines, and our commitment to responsible lending practices.

  
  Additionally, I would like to emphasize that our licensed employees consistently strive to apprise our clients of the underwriting requirements and provide regular updates as the transaction progresses through the origination process. We understand the importance of clear communication and transparency in ensuring a smooth and efficient mortgage application experience.

  
  Furthermore, our team is dedicated to meeting projected settlement dates and closing deadlines to the best of their abilities. While unforeseen circumstances can occasionally arise, we make every effort to adhere to the agreed-upon timeline and keep our clients informed of any potential delays or changes.

  
  We value Mr. ********** business and take all customer feedback seriously. We understand that the mortgage application process can be complex and occasionally frustrating. We apologize for any inconvenience or confusion he experienced along the way.

  Customer Answer

  Date: 06/29/2023

  [If you do not say why you are rejecting the company's response, BBB must close your complaint.] 
  
  Complaint: 20213169
  
  I am rejecting this response because: I think you have a lot of wrong information my disability claim with the VA is not complete the estimated ratings are not “final” just yet you also did not receive anything on June 9th regarding A completed claim that would be impossible because my last day in the Army was June 27th  and I can’t “double dip” and receive VA disability and Active duty pay at the same time so there was no way they received a completed disability claim. This is not about debt to income or any of that this is about your loan officer telling us we are closing on the 9th and us asking multiple times are we good and so we proceed with our move and then get told 2 days before closing we cannot close until the end of the month causing us to have to pay $3500 in an Airbnb for our family to live comfortably. Take responsibility for that. 
  
  Regards,
  
  ********* ********

• Initial Complaint

  Date:05/12/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  We sent a personal check for a large sum to pay off our loan. The check was deposited by Lower. However, they never credited our account. We have called over 5 times and e-mailed several times. We have not gotten a resolution or a call back from the company. Our loan is still not showing the monies. We have already sent copies of the deposited check to Lower.

  Business Response

  Date: 05/23/2023

  First and foremost, we wanted to thank the ****** Family for allowing us to respond to their concerns. It is of our utmost importance to ensure our clients are fully satisfied with their experience at Lower LLC. Lower LLC takes all its customer feedback seriously and our Company strives to achieve an exceptional level of satisfaction with all its borrowers. Accordingly, the Care Department and the Servicing Team reviewed the contents of the ****** Family’s concerns with respect to the check they mailed in to pay off their loan.
  
  Due to the check not being certified funds nor a wire from an ordered payoff. The Servicing team did need additional documentation to confirm the funds did clear the bank.
  
  Our Servicing time was able to complete their research and post the funds to the Wright’s Mortgage completing their payoff.
  
  The ****** Family is welcome to contact our servicing team with any further questions.
  Email: *************************
  Phone: ###-###-####

• Initial Complaint

  Date:05/11/2023

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have excellent credit and 100% timely payment history. My experience with previous lenders in the last 3 years has been 100% easy. I paid my mortgage by the due date for two years and there were no worries. While my monthly payment would increase, due to increased escrow payments after an increase in property tax and/or insurance, the increase at most would be $10-$20.

  Lower LLC is the worst financial company in which my mortgage has been sold to. I’ve accrued three late payment fees since being with them only a year. After their recent escrow analysis, and due to what I was told by Lower management was an error on either their behalf, my monthly payment has increased by $200 as of June 1.

  Additionally, Lower’s customer service on the management level (***** **** & ********* ******) is (word rejected) poor. The late payment fees started last year a few months after my mortgage was sold to Lower. When I called Lower the first time, the rep verified I submitted the payment on time and waived the fee. When it happened the second time, I paid the fee.

  I called not too long after paying the fee and spoke with a rep who informed me many customers complained about Lower’s payment processing (early/late). She stated in the future if it occurred, reach out to her and she would waive the fee. It did not happen for a while but when it did, I reached out and of course could not get her on the phone. I spoke with **** (very nice). She stated her supervisor ***** ****, stated I should email documentation from my bank stating Lower showing the date Lower ran the payment.

  As instructed, I did so and did not receive a response. When I followed up on 4/19, I spoke with **** again. She transferred me to ***** **** (****** supervisor). Initially ***** restated what **** previously informed me-I needed documentation from the bank. When I informed *****, this was previously sent, the conversation quickly changed to refuting the information provided by the bank. She then became unprofessional and thought she would attempt to scold me and humiliate me by starting her comments/questions with,” I’m not trying to be funny”. This conversation quickly got out of hand.

  Fast forward, 5/10/23, I received a notification of Lower’s escrow analysis stating escrow was $1,386.00 short, and increasing my monthly payment to $200 as of 6/1. I thought for sure this was a mistake as the mortgage company has the responsibility of providing the customer with the required escrow amount to be paid monthly. This is not decided by the customer or a multiple-choice option.

  When I reviewed my 2022/2023 property tax and insurance renewal, the total increase between the two totaled ($368; app.$31/mo.). The escrow analysis also included my escrow payment history and disbursements (tax and insurance) for the timeframe of 4/2023 of 5/2023. Based on the payment history, all disbursements were paid in full with the current monthly escrow amount. Additionally, the escrow analysis included an estimate for 6/2023-5/2024 escrow disbursements, using the current tax and insurance figures, but with higher escrow payments (increase of $200).

  I immediately called Lower. Their hold message warned of high call volume due to the recent escrow analysis. Evident there are many customers not happy. The first rep I spoke with *****, was honest stating she was learning the escrow process and after a while of her typing and chatting to get answers for my questions, she realized she couldn’t properly help me and transferred me to ***** ****. Yes, just my luck I was transferred to ***** again. After several minutes of ***** explaining to me how Lower hired her as a manager, because she was such an expert at escrow with her previous employer, she then began to give explanations of my increase that made no sense, and I was able to refute. ***** finally gave up with the excuses and informed me, when transferred to Lower, Lower mistakenly calculated my monthly payments, based on an outdated homeowner’s insurance policy (policy rate at the time of closing in 2021), and decreased my payments.

  Hence in her words, I now must “play catch up” to avoid my escrow account going into a negative. This is unheard of- a company miscalculating escrow and using incorrect information to do so. To add insult to injury, once I began questioning ***** as to how this could happen, I could hear her typing and chatting. She became unprofessional yet again, and finally informed me her supervisor ********* ****** instructed her to end the call as we had been on the call for an hour. Further, if I did not understand or had additional questions, I needed to send an email. WHAT?!?! I am a paying customer who is asking for an explanation/understanding of where my money is going and how this error in escrow occurred, and I’m told to email???? This is unacceptable.

  Business Response

  Date: 05/23/2023

  First and foremost, we wanted to thank Ms. ******* for allowing us to respond to her concerns. It is of our utmost importance to ensure our clients are fully satisfied with their experience at Lower LLC. Lower LLC takes all its customer feedback seriously and our Company strives to achieve an exceptional level of satisfaction with all its borrowers. Accordingly, the Care Department and the Servicing Team reviewed the contents of Ms. ********* concerns with respect to her escrow account and payment history.
  
  Our Servicing Manager was able to speak with Ms. ******* and offered a solution adjusting her escrow shortage and provided information on how to setup autopay for her mortgage payments.
  At this time we believe Ms. ******* is satisfied with our solution.
  
  Ms. ******* is welcome to contact our servicing team with any further questions.
  Email: *************************
  Phone: ###-###-####

• Initial Complaint

  Date:05/10/2023

  Type:Customer Service Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I refinanced my home loan with Lower.com in June 2022. They did not use the money at closing for escrow to pay the property insurance. My property insurance went delinquent in January 2023. When I filed a complaint with Lower.com requesting they use the designated funds from closing to pay property insurance they sold my loan to another mortgage financer and drained my escrow (which was supposed to be for 2023 insurance and taxes) to pay delinquent property insurance. Now my new escrow account is almost nothing and my property insurance bill is due in June 2023. My new mortgage company raised my escrow payment by $500 to cover the loss of escrow. Lower.com sends me to various customer service reps when called and say they will make it right but have yet to do so.

  Business Response

  Date: 05/19/2023

  We thank Mr. ***** for raising loan concerns to our attention. After a review of the complaint regarding the purported issues consummating his transaction from 2022, we can understand Mr. Hayde's frustration. We were able to research and locate a copy of a cleared check that was sent by the 3rd party title company to the insurance company. We have provided a copy of the cleared check. 

  If Mr. ***** has any additional questions, he can contact us directly at ************** 

  Thank you

• Initial Complaint

  Date:05/01/2023

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  We have been with lower for almost 2 years. All was ok until we were approved for a forebearance due to my husband cancer diagnosis so we had full approval with all back up documentation on when to start payments again. We started the payments again at that time and then a couple months later they sent us a letter that our account was behind due to unpaid months which was not true! After contacting them multiple times and going back and forth they found their mistake and corrected it. Leaving us having to fix our own credit!! after that all was ok for almost 4 months and then IT HAPPENED AGAIN! SAME ISSUE! SAME THING! only this time, no letter stating anything was wrong. ANd a woman showed up at my doorstep checking "who lived here" from Lower. After we called they said same thing...supposedly unpaid months but we have receipts for everything and copies of all the checks. AGAIN they screwed up our credit and we are being passed around from collections to customer service, im sending certified letters and no manager can make themself available to us when we call. THis is unacceptable!! I FEEL LIKE THEY ARE TRYING to be deceitful with our loan and are trying to pull something on us. Im ready to go to a lawyer next !!!

  Business Response

  Date: 05/23/2023

  First and foremost, we wanted to thank Mr. ******* for allowing us to respond to his concerns. It is of our utmost importance to ensure our clients are fully satisfied with their experience at Lower LLC. Lower LLC takes all its customer feedback seriously and our Company strives to achieve an exceptional level of satisfaction with all its borrowers. Accordingly, the Care Department and the Servicing Team reviewed the contents of your concern with respect to your payment history and credit.
  
  Our servicing team was able to review Mr. *******’ complaint and submitted a credit correction updating the credit for September and August 2022. Thereby removing the delinquencies that were reported from the forbearance.  Mr. ******* should see the updated credit reflect in 30 – 45 days.
  
  Mr. ******* is welcome to contact our servicing team with any further questions.
  Email: *************************
  Phone: ###-###-####

• Initial Complaint

  Date:03/27/2023

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  On 2/7/23 Lower received a payment of 1887.38 which was placed in suspense balance for my mortgage. Shortly after my loan was transferred to ****** ****. The new servicer has not yet received these funds causing my note to now be 21 days past due.I would like my funds transferred to the new servicer immediately.

  Business Response

  Date: 03/27/2023

  First and foremost, we wanted to thank Ms. ******** for allowing us to respond to her concerns. It is of our utmost importance to ensure our clients are fully satisfied with their experience at Lower LLC. Lower LLC takes all its customer feedback seriously and our Company strives to achieve an exceptional level of satisfaction with all its borrowers. Accordingly, the Care Department reviewed the contents of your concern with respect to your payments and loan servicer transferring to ****** **** ******* (**********).
  
  On February 7th, 2023, Ms. ******** submitted a payment of $1,887.38, or half of her total payment due for March 2023 for $3,774.76. These funds were placed into suspense, as it was not the full payment due. On March 1st, 2023 Ms. ********** loan was transferred to ****** **** *******, with loan number ********** for a balance of $470,250.00, as Ms. ********** first payment was due to ****** **** *******. As of March 23rd, 2023, Ms. ********** funds of $1,887.38 were wired to ****** **** ******** Wire confirmation **********************.
  
  Ms. ******** is welcome to contact ****** **** ******* to confirm the funds received and applied to her account.

  Business Response

  Date: 03/27/2023

  First and foremost, we wanted to thank Ms. ******** for allowing us to respond to her concerns. It is of our utmost importance to ensure our clients are fully satisfied with their experience at Lower LLC. Lower LLC takes all its customer feedback seriously and our Company strives to achieve an exceptional level of satisfaction with all its borrowers. Accordingly, the Care Department reviewed the contents of your concern with respect to your payments and loan servicer transferring to ****** **** ******* (**********).
  
  On February 7th, 2023, Ms. ******** submitted a payment of $1,887.38, or half of her total payment due for March 2023 for $3,774.76. These funds were placed into suspense, as it was not the full payment due. On March 1st, 2023 Ms. ********** loan was transferred to ****** **** *******, with loan number ********** for a balance of $470,250.00, as Ms. ********** first payment was due to ****** **** *******. As of March 23rd, 2023, Ms. ********** funds of $1,887.38 were wired to ****** **** *******. Wire confirmation **********************.
  
  Ms. ******** is welcome to contact ****** **** ******* to confirm the funds received and applied to her account.

• Initial Complaint

  Date:02/07/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I was working with a loan advisor **** M. He failed properly communicate I contacted several times by phone and via text message. There has been no response. This company is horrible their communication is terrible. I also contacted their customer service and this was even worse. I spend over $600 when **** knew that the loan would not be approved he wasted my time and my money. I took a hard inquiry in my credit when there was no intention of funding a loan. I would like a refund and an apology from **** personally for his lack of communication.

  Business Response

  Date: 02/15/2023

  First and foremost, we wanted to thank Ms. ************ for allowing us to respond to her concerns. It is of our utmost importance to ensure our clients are fully satisfied with their experience at Lower LLC. Lower LLC takes all its customer feedback seriously and our Company strives to achieve an exceptional level of satisfaction with all its borrowers. Accordingly, the Care Department reviewed the contents of your concern with respect to your loan application and experience.
  
  On January 05, 2023, Ms. ************ applied for a refinance with our Loan Originators for a loan of $527,065.00 based on preliminary information. Subsequently, an appraisal was ordered on January 06, 2023, through a third-party Appraisal Management Company to confirm the value of the subject property. On January 18, 2023, The appraisal was completed and the value, unfortunately, came back at $595,000 which fell short of the value needed for Ms. ************ to complete her cash-out refinance. Due the appraisal being a direct 3rd Party fee we are unable to issue a refund for services completed.
  
  If any loan products come available on the market that allows for different guidelines regarding Loan-to-Value, or Debt-to-Income Ratios, we are sure to contact Ms. ************ accordingly.

  Customer Answer

  Date: 02/15/2023

  [If you do not say why you are rejecting the company's response, BBB must close your complaint.] 
  
  Complaint: 19345726
  
  I am rejecting this response because: I spoke with the customer service representative and ***** and he was supplying help with getting my money back. This company is wasted my money and my time. The representative **** has not followed up and spoke with my about this account. No one wants to take accountability for the mistakes and a lack of communication. I would like to proceed with the loan. And no one is contacting me back. This is unacceptable. 
  
  Regards,
  
  ******* ************

• Initial Complaint

  Date:12/09/2022

  Type:Customer Service Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I sold my old House in Manassas on 10/14/22. I checked that morning on the Lower.com Loan Portal to make sure I got the amount of the left over Escrow. I wanted to check again that night and the Account said "Paid In Full" and wouldn't let me see any more information. I waited a couple of weeks then called Customer Service to see what the Status of my Payout was. The Rep said it was mailed on October 21st and give it 7-10 Business Days. Since it was still within that Time Window I said I would wait. I waited a month then called Customer Service on 11/28/22 to ask for the status of my Escrow Balance Check. She said she didn't have my Current Address on File and that is what probably is holding the Check up. That's funny since all my other Mall got Forwarded to my New Address with no problem. Just somehow not this Check. I gave her my New Address Information and she said the Check will be re-issued for the new House Address. I am at the new 10 Business Day mark and NO CHECK! Next week it will be two Months since I closed this Loan and still can't get my Money! These companies are quick to take your Money but extremely slow to give it back.

  Business Response

  Date: 12/18/2022

  Mr. ******:
  
  First and foremost, we wanted to thank you for allowing us to respond to your concerns. It is of our utmost importance to ensure our clients are fully satisfied with their experience at Lower LLC. Lower LLC takes all its customer feedback seriously and our Company strives to achieve an exceptional level of satisfaction with all its Borrowers.
  Accordingly, the Care and Servicing Department reviewed the contents of your concern with respect to your payoff, escrow refund disbursement, and the chain of events.
  
  On October 14, 2022, your loan was paid in full, from the sale of your home located at ***** ******** ***** ********* ** ****** On November 7, 2022, an escrow refund check was mailed to the mailing address on file, ***** ******** ** ********* ** *****. On November 21, 2022, you called our servicing team to inquire about your escrow refund check. Approximately a week later you reach out to our servicing team on November 29, 2022, to follow up on your escrow refund check. It was identified that the mailing address needed to be updated. Your mailing address was updated to ***** ******** ***** *********** ** ****** On December 9, 2022,  you submitted your complaint to the Better Business Bureau, which was shared with our servicing team for review.
  December 12, 2022, our servicing team reached out to you to obtain wiring instructions to wire your remaining escrow funds to you. On December 13, 2022, your remaining escrow funds were sent to you via wire.
  
  Mr. ******, we sincerely apologize for any unmet expectations regarding your experience relating to the servicing of your mortgage loan. You are welcome to reach out to our offices directly if you have any additional questions.

• Initial Complaint

  Date:12/05/2022

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  We refinanced our mortgage with ****** **** ******* ****** *** back in June. They then sold off our new loan to ******* ***. We made 2 payments totaling $2,620.98 to Lower, LLC only to be met with a delinquency notice from Andrews in the aforementioned amount. The money was never transferred to the new servicing lender and despite multiple calls to recover my money Lower has failed to make any resolution. They continue to tell me 7-10 business days only for there to be no additional loan activity two weeks later. All the while Lower is holding on to my money interest free and we had to pull out of savings so as not to have any late fees.

  Business Response

  Date: 12/12/2022

  Mr. ********:
  
  First and foremost, we wanted to thank you for giving us an opportunity to respond to your concerns. It is of our utmost importance to ensure our clients are fully satisfied with their experience at Lower LLC. Lower LLC takes all its customer feedback seriously and our Company strives to achieve an exceptional level of satisfaction with all its Borrowers.
  Accordingly, the Care and Servicing Department reviewed the contents of your concern with respect to the payment history and the chain of events.
  
  As stated in your complaint, you completed a refinance transaction in June 2022. Your first payment to Lower LLC was due for August 2022, which you made on August 1, 2022, for $1,310.49. Your loan was purchased by ******* ***, on July 18, 2022, with a first payment due to ******* *** on September 1, 2022. On September 1, 2022, you made a payment to Lower LLC, and subsequently, your loan was transferred to ******* *** with the principal payment of $270,019.01. As noted, you communicated with the servicing team on October 10, 2022, and November 10, 2022, in regard to your payments being sent to ******* ***.
  December 7, 2022, your September 2022 payment was transferred to ******* ***, after escalating to the servicing manager.
  
  Mr. ********, we sincerely apologize for any unmet expectations regarding your experience relating to the servicing of your mortgage loan. You are welcome to reach out to our offices directly if you have any additional questions.