Mortgage Lenders
Lower.comThis business is NOT BBB Accredited.
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Complaints
This profile includes complaints for Lower.com's headquarters and its corporate-owned locations. To view all corporate locations, see
Customer Complaints Summary
- 40 total complaints in the last 3 years.
- 5 complaints closed in the last 12 months.
If you've experienced an issue
Submit a ComplaintThe 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:08/08/2022
Type:Service or Repair IssuesStatus: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 closed on May 13th, 2022 for a HELOC and Mortgage Refinance. Despite asking multiple times where closing costs were coming from they never provided a clear answer. Later after expressing if i'm paying for closing costs out of pocket I'm not interested. They instead pushed the closing costs through to the HELOC instead which is predatory in my opinion. They also made an error on my closing documents and during the 3 day period I attempted to call the company several times and never received an email or call back to rectify the issue. I actually never received a call back from the company at all following closing.Business Response
Date: 08/16/2022
Firstly, we thank Mr. ********* ***** (“Borrower”) for taking the time in submitting his concerns to our Company’s attention. We can understand his frustration, and we too understand that the various promulgated federal and state fee disclosures issued to applicants under regulation may be overwhelming at times. As such, we expect our licensed employees to review such documents with their clients to ensure they understand the terms and conditions of a proposed mortgage debt prior to consummation. Provided the contents of Mr. *****’s complaint, his transaction was escalated to the management of his loan team and the Customer Care Department to identify any policy or procedural disparity.
Mr. *****’s complaint detailed that he was not provided a clear explanation of where his closing costs were going to come from. As Mr. *****'s did not want to pay of closing costs out of pocket, the costs became included in his HELOC. Mr. *****’s stated in his complaint he attempted to contact the company during the three-day rescission period and did not receive an email or callback to rectify the issue.
Mr. ***** closed on his loan on May 13th, 2022. Mr. ***** called the Customer Care Department once on July 7th, 2022.
On July 7th, 2022, Mr. *****’s called the Customer Care Department and spoke to a Customer Care Representative stating he had received his first interest bill for his HELOC and inquired where his HELOC funds were. The Customer Care Representative explained that Mr. *****’s HELOC was set up as a future advance and was not set up to receive funds at closing or after closing. The Customer Care Representative confirmed that the funds of the HELOC were sitting with the Department of Commerce Federal Credit Union and that Mr. ***** would be able to access those funds once his HELOC had been onboarded with the servicer.
The Customer Care Department has no other communication attempts from Mr. *****.
We appreciate Mr. *****’s time in bringing his concerns and we value his feedback. We also sincerely apologize for any miscommunication or confusion experienced by Mr. ***** during the course of finalizing his transaction. We encourage Mr. ***** to reach out to our Customer Care Department ([email protected]) if he has unanswered questions.Customer Answer
Date: 08/18/2022
[If you do not say why you are rejecting the company's response, BBB must close your complaint.]
Complaint: 17686214
I am rejecting this response because: The information is inaccurate that they provided. I expressed that if I'm paying closing costs I'm not interested knowing that I recently closed less than 12 months prior. I also have an email of when I reached out to Ignatius and Logan through email on May 13, shortly after closing documents were signed. I also have pulled my phone records to show where I also called both of their personal phone numbers and left a voicemail and never received a response back. The instance they mentioned was well after the loan was sold. To add another complaint, I was told I had the ability to refinance for life using the program I was in by Logan. My loan was sold within the first month but I'm also sure I won't be able to refinance after they've sold the loan to *******. The calls are recorded on their line, I'm sure it's possible to vet these. I don't have a lot of confidence that they have though.
Regards,
********* *****Business Response
Date: 08/23/2022
We thank Mr. ********* ***** (“Borrower") for taking the time to reiterate his concerns in regard to his transactions.
Federal and state fee disclosures issued to applicants under regulation may be overwhelming at times, but are there to protect the consumer, as they provide detail and transparency in regard to the loan details.
Federal and state disclosures were provided and signed by Mr. ***** and Mr. ***** did arrive at consummating his loans.
We can advise Mr. ***** that he can still participate in Lower's free refinance for life considering Mr. ***** continues to qualify for the requested loan product.
We appreciate Mr. *****’s time in bringing his concerns and we value his feedback. We also sincerely apologize for any miscommunication or confusion experienced by Mr. ***** during the course of finalizing his transaction. We encourage Mr. ***** to reach out to our Customer Care Department ([email protected]) if he has unanswered questions.Initial Complaint
Date:08/05/2022
Type:Service or Repair IssuesStatus:ResolvedMore 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 8/4/2022, I received a letter stating that Lower, LLC experienced a data breach in December 2021 and an unauthorized actor accessed the Lower network and removed certain files from the network. My information was part of this breach. Since I have never heard of Lower, LLC, I've tried researching them to see how they would have my information in their records. It looks as though they are a home lender or facilitator of home loans -- I have not used a home lender in many years. I cannot locate a Lower, LLC phone number to inquire where and why they have my personal information. I want to know WHY Lower, LLC has my information, WHERE they got my information and in WHAT manner have they used my information?Business Response
Date: 08/09/2022
We thank Ms. ********** for notifying us of re*eipt of the data brea*h letter, regarding an in*ident in De*ember 2021, and for expressing her *on*erns. We were able to *onne*t with Ms. ********** and informed her Lower LL* is the parent *ompany of Homeside Finan*ial. We were able to *onfirm, that in September 2017, Ms. ********** initiated a mortgage appli*ation with Homeside. This was why she was notified via a letter through our third-party provider regarding an in*ident in De*ember 2021. We sin*erely apologize for the *on*erns this *reated and appre*iate the feedba*k provided. If she would like to provide more information, please *onta*t us at your earliest *onvenien*e at ************ or ***************
Thank you - Lower.*om *ustomer *areCustomer Answer
Date: 08/11/2022
[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]
Better Business Bureau:
I accept the business's response to resolve this complaint.
Regards,
***** **********
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