BBB Business Review

BBB Accredited Business since 09/17/2012

Willow Bend Mortgage

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Phone: (972) 818-1666Fax: (972) 588-9499View Additional Phone Numbers5800 W. Plano Pkwy., PlanoTX 75093-4689 Send email to Willow Bend MortgageView Additional Web Addresses

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BBB Accreditation

A BBB Accredited Business since 09/17/2012

BBB has determined that Willow Bend Mortgage 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.

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Reason for Rating

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

Factors that raised Willow Bend Mortgage's rating include:

  • Length of time business has been operating.
  • Complaint volume filed with BBB for business of this size.
  • Response to 1 complaint(s) filed against business.
  • Resolution of complaint(s) filed against business.

Customer Complaints SummaryRead complaint details

1 complaint closed with BBB in last 3 years | 0 closed in last 12 months
Complaint TypeTotal Closed Complaints
Advertising / Sales Issues1
Billing / Collection Issues0
Problems with Product / Service0
Delivery Issues0
Guarantee / Warranty Issues0
Total Closed Complaints 1

Customer Reviews Summary Read customer reviews

0 Customer Reviews Customer Reviews on Willow Bend Mortgage

Customer Experience Total Customer Reviews
Positive Experience
Neutral Experience
Negative Experience
Total Customer Reviews 0 Customer Reviews

Complaint Breakdown by ResolutionAbout Complaint Details

Complaint Resolution Log (1)
03/06/2014Advertising / Sales Issues | Read Complaint Details

we locked mortgage rate at 4.125(30 yr.fixed)with them. He said the rate lock isn't valid and rate went up at the closing table.
We had rate lock with them at 4.XXX XXyr fixed. He was talking to us twice a day and kept asking for documents until the very last minute. He even told us that he will get the rate lock extended by a week when our closing was pushed by the builder. When we reached the title company, the day of closing, he called us and said that rate went up and its not 4.5. He said he can't do anything and we had to close. When I spoke to his manager, he said that the loan officer did not lock your rate. The company was recommended to us by the builder and we never thought they would be dishonest. We could not do anything as he broke the news of rate increase at the very last minute. We called so many people at the mortgage company, trying to get this resolved but no one could help us . The day that was supposed to be so happy for us turned out to be so stressful and in the end we had to close at the rate loan officer gave us which was much higher that the one he supposedly locked for us. People should be aware of the company practices and should not go to them for business.

Desired Settlement
They should honor the rate they promised us all along or pay us for the damages.

Business Response
I have personally investigated the history of Mr. and Mrs. ******'s loan and had all documentation provided to me.

In summary, the ice storm in December delayed the builder by a few weeks and rates rose during that time period. The disclosed rate of 4.375% on November 5th was no longer available when the builder finally completed the house late December.

This loan officer in particular receives excellent post closing reviews that directly come to management. He has been a loan officer for many years. I believe that perhaps better communication would have helped, but it would not have changed the rate that the ******'s received. I am truly sorry that Mr. and Mrs. ****** had a bad experience with him. I encourage Mr. ****** to contact their loan officer directly to discuss ways that his complaint can be addressed. Every customer at Willow Bend Mortgage is important to us.

About The Loan

******* were disclosed of 4.375% rate on November 5th, 2013. ******* returned signed disclosures acknowledging 4.375% rate and terms to Willow Bend Mortgage on November 11th, 2013. A rate of 4.125% was never disclosed to or discussed with the *******. Document list needed to underwrite the loan provided November 26th, 2013. Customer was very reluctant to provide information needed to underwrite loan and slow to return documents. Please note that over the past few years, documentation required to underwrite a loan has increased dramatically.

Rate was not locked at initial disclosure, because builder was unable to provide an estimated completion date at that time. Longer term locks can have large fees associated with them because the investor is taking interest rate risk over a longer period of time. The December ice storm in DFW delayed the builder by an additional few weeks and during that time period, interest rates rose. Once the estimated completion date was received (estimated late December/early January), the loan was locked at 4.5%, the market interest rate for their loan. The ******* were disclosed of this increase on December 23rd, which was prior to closing.

Again, I am sincerely sorry that the ******* had a bad experience with Willow Bend Mortgage. WBM strives to deliver an excellent customer experience and competitive rates. I encourage the ******* to get a hold of their loan officer to discuss ways to address their issues.

Final Consumer Response
(The consumer indicated he/she DID NOT accept the response from the business.)
The loan officer is completely dishonest. We NECER returned the signed 4.375 rate document. We called him and he said he by mistake sent it to us and **** fix. Also when the construction was delayed by a week, he told us that he **** get the rate lock EXTENDED for 4.125. He decided NOT to tell us anything until the day of closing..I don't see how a dishonest and corrupt loan officer can get good rating. We are not lawyers by any stretch of imagination to know that when he is telling us its locked at 4.125, what he's really doing on the company side is different. I can send all the email responses but I do realise that the loan officer always neglected to respond to our clear questions on the email and called us as if he planned to increase the rate at the VERY LAST MINUTE, all along. We did not have any confirmation on dec 23rd about rate increase, no email no phone..he is lying about all this. Also please send us the document you are talking about that we supposedly signed for 4.375 on november 11. Willobend mortgage was recommended by ******** and everyone else locks the rate for 45 days. When the loan office could not extend the lock period..shouldn't HE ATLEAST TELL US ???? I am going to take my complaints further and make sure that the loan officer is not even capable of cheating and misleading a customer out of their money like he did with us. I AM NOT ACCEPTING THEIR RESPONSE AT ALL. THERE IS NO TRUTH TO THEIR RESPONSE.......

Industry Comparison| Chart

Mortgage Bankers, Real Estate Services, Real Estate Investors, Mortgage Lender, Mortgage Brokers, Real Estate Loans, Banking Services

Additional Information

BBB file opened: 01/19/2004Business started: 12/03/1993
Licensing, Bonding or Registration

This company is in an industry that may require licensing, bonding or registration in order to lawfully do business. 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 and Mortgage Lending
2601 North Lamar, Suite 201
Austin, TX 78705
(877) 276-5550

Type of Entity

Limited Liability Corporation

Contact Information
Principal: Mr. William C. Shaddock (President)Customer Contact: Mr. Will Shaddock (Vice President)Mr. Tracy Kell (Senior Vice President)Mr. Craig Schrank (Executive Vice President)
Business Category

Mortgage Bankers, Real Estate Services, Real Estate Investors, Mortgage Lender, Mortgage Brokers, Real Estate Loans, Banking Services

Alternate Business Names
Willow Bend Mortgage, LLC
Industry Tips
Mortgage Broker

Map & Directions

Map & Directions

Address for Willow Bend Mortgage

5800 W. Plano Pkwy.

Plano, TX 75093-4689

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Industry Comparison ChartX

The information in the table below represents an industry comparison of businesses which are of the same relative size. This is based on BBB's database of businesses located in Dallas and Northeast Texas. Businesses may engage in more than one type of business. The percent of time the business engages in a type of business is not accounted for. There is no known industry standard for the number of complaints a business can expect. The volume of business and number of transactions may have a bearing on the number of complaints received by BBB.

*Willow Bend Mortgage is in this range.


Types of Complaints Handled by BBB

BBB handles the following types of complaints between businesses and their customers so long as they are not, or have not been, litigated:

  • Advertising or Sales
  • Billing or Collection
  • Problems with Products or Services
  • Delivery
  • Guarantee or Warranty

We do not handle workplace disputes, discrimination claims or claims about the quality of health or legal services.


Additional Phone Numbers

  • (361) 853-9987
  • (817) 800-3900
  • (830) 249-1010
  • (512) 876-5626
  • (214) 923-0092
  • (877) 276-5550

Additional Web Addresses


Additional Email Addresses


BBB Complaint Process

Your complaint will be forwarded to the company within two business days. The company will be asked to respond within 14 days, and if a response is not received, a second request will be made. You will be notified of the company's response when we receive it (or notified that we received no response). Complaints are usually closed within 30 business days.


BBB began including the text of consumer complaints and business responses in BBB Business Reviews on 07/01/2013 for complaints filed on 01/01/2013 and thereafter. This includes all complaints that meet our reporting guidelines and that are filed electronically. We also report on the resolution of the complaint, as determined by BBB.


Industry Tips for Mortgage Bankers

Mortgage Broker

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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

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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

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BBB Business Reviews are provided solely to assist you in exercising your own best judgment. Information in this BBB Business Review is believed reliable but not guaranteed as to accuracy.

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