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BBB Accreditation

A BBB Accredited Business since

BBB has determined that 360 Mortgage Group, LLC meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.


Reason for Rating

BBB rating is based on 13 factors. Get the details about the factors considered.

Factors that raised the rating for 360 Mortgage Group, LLC include:

  • Length of time business has been operating
  • Complaint volume filed with BBB for business of this size
  • Response to 6 complaint(s) filed against business
  • Resolution of complaint(s) filed against business


Customer Complaints Summary Read complaint details

6 complaints closed with BBB in last 3 years | 4 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 0
Billing/Collection Issues 3
Delivery Issues 0
Guarantee/Warranty Issues 0
Problems with Product/Service 3
Total Closed Complaints 6

Customer Reviews Summary Read customer reviews

0 Customer Reviews on 360 Mortgage Group, LLC
Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 0
Negative Experience 0
Total Customer Reviews 0

Additional Information

BBB file opened: February 09, 2012 Business started: 08/01/2007 in TX Business started locally: 08/01/2007 Business incorporated 11/30/2007 in DE
Licensing, Bonding or Registration

This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.

These agencies may include:

Texas Department of Savings & Mortgage Lending
2601 N Lamar Blvd # 201, Austin TX 78705
www.sml.state.tx.us
Phone Number: (877) 276-5550
rcrochet@sml.state.tx.us

Type of Entity

Limited Liability Company (LLC)

Business Management
Mr. Mark Greco, Director Ms. Jessica Hays, Assistant Mr. Andrew Weissmalin, Director
Contact Information
Principal: Mr. Mark Greco, Director
Customer Contact: Ms. Jessica Hays, Assistant
Business Category

Real Estate Appraisers Real Estate Loans Mortgage Brokers Financial Services Mortgage Bankers

Industry Tips
Finding a financial planner

Additional Locations

  • 11305 Four Points Dr Bldg 1-200

    Austin, TX 78726 (512) 418-6000 (866) 418-2997

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BBB Customer Review Rating plus BBB Rating Overview


BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.

Customer Review Experience Value
Positive Review 5 points per review
Neutral Review 3 points per review
Negative Review 1 point per review

BBB letter grades represent the BBB's opinion of the business. The BBB grade is based on BBB file information about the business. In some cases, a business' grade may be lowered if the BBB does not have sufficient information about the business despite BBB requests for that information from the business.
Details

BBB Letter Grade Scale

BBB Rating Value
A+ 5
A 4.66
A- 4.33
B+ 4
B 3.66
B- 3.33
C+ 3
C 2.66
C- 2.33
D+ 2
D 1.66
D- 1.33
F 1
NR -----
Star Rating scale

  Average Score
5 stars 5.00
4.5 stars 4.50-4.99
4 stars 4.00-4.49
3.5 stars 3.50-3.99
3 stars 3.00-3.49
2.5 stars 2.50-2.99
2 stars 2.00-2.49
1.5 stars 1.50-1.99
1 star 0-1.49

BBB Customer Review Rating plus BBB Rating is not a guarantee of a business' reliability or performance, and BBB recommends that consumers consider a business' BBB Rating and Customer Review Rating in addition to all other available information about the business. If the BBB Rating is NR then only Customer Reviews are used for the Star Rating.

Complaint Detail(s)

4/21/2015 Billing/Collection Issues | Read Complaint Details
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Additional Notes

Complaint: 360 mortgage group with-drew with out permission an additional $956.65 from my banking account "committing electronic fraud theft" could you see into this matter and have my monies returned to me thank you.

Desired Settlement: return funds, and any extra charges billed to me because of this matter. please help i'm disabled and live off meager monies. i have tried to resolve this matter to know avail. this is a crime.

Business Response:

03/27/2015

**** ******* ******
**** ****** **** *****
*********** ** *****

Dear *** ******,

We are in receipt of your complaint filed with the Better Business Bureau, regarding the duplicate drafting of your March 2015 payment.

On February 19th you placed a call into our Customer Care department stating that you wanted to initiate auto draft of your monthly mortgage payment to begin in March. We were not able to setup auto draft for you to begin in March as there was not enough time to initiate that request for you, but we advised it would begin in April if you returned the requisite "Automatic Draft Authorization Form." At that time you were advised by our representative to make a one-time draft to make your March payment over the phone and you scheduled that payment for March 10th. On February 24th we received your completed Automatic Draft Authorization Form and entered that into our system to begin drafting your payments on April 10th. On March 9th you placed all call to our Customer Care department again requesting us to setup another payment for you via phone, which we did. You requested that payment be scheduled for the same day, March 9th.

On March 12th you called regarding both payments drafting from your bank account and were asked to provide a letter from your bank showing that both payments were processed and would be honored and not rejected by them for insufficient funds. We did receive a letter on March 13th; however it did not reflect that the payment would in fact be honored. On March 16th our Customer Care representative placed a call to your bank requesting a document that reflected that they would honor both payments but were unable to speak with anyone at your bank. On March 17th although we did not receive the requested information from your bank, as an accommodation to you, we initiated a refund request via our cashiering and accounting departments which was expedited to minimize the financial impact to you. The funds were sent back to your bank electronically on March 18th.

We hope that this letter satisfies your concerns regarding this matter. Should you have additional questions please contact our Customer Care department at ###-###-####.

Thank you for your business,
Customer Care

Attachments:
ACH Form-******
Letter from Pen Air Bank-******

4/14/2015 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: My office was contacted via email from ***** ******* on 07/23/2014 with 360 Mortgage LLC to perform an appraisal of a property located at *** ****** ** ******** ** for a loan origination. The appraisal was performed and delivered on 08/04/2014. This was then followed up with a needed final inspection for an FHA re-inspection for repairs which was order by ***** on 07/30/2014 and delivered on 08/06/2015. To this date Gateway Mortgage LLC has been unresponsive to repeated attempts to collect on its invoices totally $710. ***** ******* was contacted via email most recently on 03/03/2015 and he stated he is no longer in that department but appears to still be employed with Gateway Mortage LLC. Phone calls to Gateway Mortgage LLC have been to not avail. Responses from ***** ******* have been repeated that Gateway Mortgage pays appraisers through Paypal and if I did not acknowledge it through Paypal when it was sent that the money gets sent back to Gateway Mortgage. This sounds like using Paypal and its processes as a 'scapegoat' for not paying its appraisers. Since honoring my end of contracted agreement I have heard excuses from I am lo longer in charge of that to the person in charge is not in the office and also it was my fault for not accepting the payment through paypal. Unacceptable business practices from many angles.

Desired Settlement: Invoices totaling $710 paid in full.

Business Response: Good Morning,

Payment for Mr. ********'s work was processed on Friday, April 10.  We apologize for any inconvenience.  

Please contact us with any questions.

Thank you,

******* ****
###-###-####

Consumer Response: Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.

Regards,

***** ********

3/3/2015 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: My problem with this company, I was already going through a real estate loan, with another company, and a loanj officer contacted me, and offered me a better interest rate. I pulled the application with the company I was working with, contacted the department of Veteran's Affairs and had my appraisal transferred to 360 Mortgage, forwarded my credit file to 360, they then pulled my credit after this. they pulled my credit a total of 3 times, and pulled my wife's credit at least 2 times. then a week and half before we are to close, they pull my loan, and asay they cannot process my loan due to my credit. I was supposed to close a week and a half from the day they told me this. My loan Officer ******* ****** had said i had no issues with my credit, and that my loan was complete, and have emails from *** ******, about the approval. Thhey should have been held to the promises made by the loan officer, and this was really bad business practives. So after this, I had to jump through hoops, get my VA appraisal transferred back to my original creditor, and paying a higher interest rate. and having to pay more on my closing costs and pay more for my processing fees.

Desired Settlement: Due to having to change lenders again, it has cost me more on my interest rate, the loan origination fee was higher with the other company, the closing costs were higher dealing with a different closer. with all of the associated costs of switching lenders, not once, not twice, but a total of three times. Also they need to go back and remove the credit inquiries from my credit file, and my wife's credit file. Bad customer service to pull a loan 10 days prior to closing on a new house.

Business Response: Dear *** ******,

We are in receipt of the complaint that you filed with the Better Business Bureau.

While we are sorry for the outcome of your loan decision, we feel that this is at no fault of 360 Mortgage Group’s.  Multiple representatives of 360 Mortgage attempted to satisfy and resolve your concerns prior to the complaint including the senior loan officer, loan processor and the manager.

Response to the Case Description: 

1.     When a borrower switches lenders regardless of savings in the form of reduced fees or interest rates it is not the responsibility or expense of the lenders to
transfer the required documents.

2.     Borrowers will often have their credit pulled multiple times during the loan process.  Pulling credit initially to see if the borrower(s) are qualified is the first time. Through the process of underwriting/approval of the loan an updated credit profile is used to approve a loan.

3.     Borrower(s) that experience changes in their credit report during the application and approval process are expected to clarify, explain and supply documentation to clear credit concerns until a loan is approved, closed and funded.

4.     *** ****** specifically experienced additional derogatory items on his credit report during the loan process that eliminated his qualification for the loan desired.

5.     Loan officers initially qualifying a borrower as an applicant does not constitute a contract to approve and rather permits the lender to thoroughly qualify the
borrower for the desired loan.

6.     There are zero costs associated with the transferring of documents at the request of the borrower. *** ****** request to transfer documents to another lender was done in a timely and professional manner.

7.     Credit inquiries cannot be removed from a credit report. The multiple inquiries regarding the same line of credit doesn't negatively impact a credit score.

8.     Borrower upon initial application with loan officer had sufficient credit to qualify for the desired loan. During the loan process additional derogatory items were reported and *** ****** had insufficient credit to qualify for the loan.

Again, we apologize for your inconvenience and hope that our response satisfies your complaint.  Should you have any additional questions, please feel free to contact us.



1/21/2015 Billing/Collection Issues | Read Complaint Details
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Additional Notes

Complaint: 360 Mortgage sold my mortgage on November 14, 2014 to Roundpoint Mortgage. May first payment to Roundpoint Mortgage was to begin on December 1, 2014, which I have paid. 360 Mortgage continues to send threatening letters saying that I owe for December and January, but they do not own my mortgage. They sent me a letter in November stating that they sold my mortgage to Roundoint, but they continue to send me threatening letters about hurting my credit. I called them on 12/26/14, and they verified that they did sell the mortgage. They stated that they needed to update it in their system, but they haven't and continue to send me threatening letters.

Desired Settlement: I want an e-mail and written letter stating that nothing is owed to 360 Mortgage and that they have corrected this in their system.

Business Response: ** *****,

We apologize for the inconvenience this has caused you.  Attached, you will find a letter from our VP of Servicing, ****** *****, concerning the matter.  In addition to this letter, *** ***** will also be sending you a personal email with this information.

Please let us know if you have any further questions or concerns.

Sincerely,

******* ****

4/16/2013 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: My credit has been hurt by 360 Mortgage Group by an event that I believe was UN-necessary.First, I have had my mortgage loan for ten years now, and have NEVER missed a payment. On February 2013 I was reported to the credit bureau by 360 Mortgage for non-payment.I have my mortgage payments taken out of my paycheck every month, and use "Bill Pay" through my bank to be sent out on the 1st of every month. Well for my February, 2013 payment it went out as normal and my payment was accepted by 360 Mortgage.Two weeks later, I received a notice stating that my payment had been rejected because "The amount received was less than the full monthly payment" as stated on the notice.I was unaware that my payment amount had changed. It had been increased by $4.90. If I had known this, I would have adjusted my bill pay. 360 Mortgage rejected my payment because it had been $4.90 short!360 Mortgage sent back my original payment back to my bank and charged me a late fee for not paying my mortgage on time for February.By the time I figured out what was going on my original payment that had been resent back to my bank was gobbled up by medical bills. I now did not have enough for my February mortgage payment.During the next several days, I spent calling 360,and explaining my dilemma. They were uncooperative and offered no solutions. In fact, they notified me that if my payment was not sent in, they would be reporting me for non-payment a second time because my March payment would be going to pay for my February payment, making my March payment late, which is exactly what happened. I adjusted my bill pay to pay the increased amount of my mortgage, sent my March payment as scheduled...however, my March payment went to my February payment, March received a late charge and I was going to be reported to the credit bureau for a second time. It was a vicious circle that I saw no end to.When I talked to 360 about notifying me about my mortgage increase, they said a notification letter had gone out in December. During this time, My father was very ill. I took time to spend every minute with him. He sadly passed away on December 10th. The letter could have very well been sent to my home, however, given the circumstances, i missed it. It has been very frustrating dealing with 360. I offered to use my credit card to pay off that "Late" payment but was told that credit cards are not accepted. Meanwhile, my credit is being hurt and late fees keep piling up.I see this as a trap. First, they accept the payment, then they deny it and send it back to my bank. Then charge me a late fee, for being late, when in fact they made my payment be late. If they would just accepted my payment sent and billed me for the remaining balance of $4.90,(which I would have been more than happy to pay the $4.90!)all of this stress/headache would have been avoided.As I stated before, I feel that this company is very dishonest and traps its clients into not only ruining our credit scores, but also, eventually causing innocent people to loose their homes. I feel that if I had continued in the vicious cycle they had trapped me in, I would have lost all that I have worked so HARD to achieve, my credit score and my home. I had to take out a small loan to STOP the vicious cycle 360 had me in. Product_Or_Service: Home Mortgage

Desired Settlement: DesiredSettlementID: Other (requires explanation) The desired resolution that I would like is that 360 Mortgage take off all of the late fees that they added to my account.

Business Response: We are researching this and will provide a response as soon as possible.

Thank you,

******* ****

Consumer Response: [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 have reviewed the response made by the business in reference to complaint ID *******, and find that although a resolution has not been presented, I feel grateful that my case is being researched.

Regards,
***** ******

3/2/2013 Billing/Collection Issues | Complaint Details Unavailable