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BBB Accredited Business since
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A BBB Accredited Business since
BBB has determined that Box Home Loans 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 Box Home Loans 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 Summary Read complaint details
|Complaint Type||Total Closed Complaints|
|Problems with Product/Service||1|
|Total Closed Complaints||1|
Customer Reviews Summary Read customer reviews
|Customer Experience||Total Customer Reviews|
|Total Customer Reviews||0|
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:
NMLS - Nationwide Mortgage Licensing System
Business ManagementMr. Aaron P. Brown, Manager Mr. Matt Brumble, Owner Mr. Scott Leishman, Owner
Real Estate Loans Mortgage Brokers
Box Home Loans is a DBA of Republic Morgage Home Loans LLC. A separate BBB report is available for Republic Mortgage Home Loans LLC.
Industry TipsHome Loan Modification
380 Technology Ct Ste 200
Lindon, UT 84042 (801) 426-5600 (877) 905-0005 Directions
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BBB Complaint Process
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BBB reports on known government actions that are relevant to the business's marketplace dealings with the public.
BBB Reporting Policy
As a matter of policy, BBB does not endorse any product, service or business.
Additional Phone Numbers
- (877) 905-0005(Phone)
Additional Email Addresses
Complaint Trends - Last 3 Years
Customer Review Trends
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.
BBB Letter Grade Scale
Star Rating scale
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Problems with Product/Service
Read Complaint Details
Complaint: On October 15th, my wife and I signed purchase agreement for a house. On October 20th, we were granted a 45 days rate lock by Box Home Loan. Closing date for the purchase of our house was December 3rd but was moved to November 30th later on. The terms of the lock were an interest rate of 3.625% and a seller credit of $2,714 toward certain closing cost (origination charges and similar services). Box Home Loan disclosed that this lock was subject to additional restrictions compared to a standard loan (see attachment). As none of the conditions listed apply to our case, we agreed on this rate. On Monday, November 23rd, in the morning, Box Home Loan confirmed again by email that the mortgage was on track. Then, at the end of the day, two business days prior to closing (Thanksgiving weekend), Box Home Loan called and indicated that they could not process our loan on the lock terms and proposed less favorable terms (3.75% rate with $783,20 of points and no credit against closing cost). Box Home Loan indicated that the loan could not be processed because the appraisal was not accepted by the loan underwriter. The lender also indicated over the phone that the new rate was actually a favor made to us as it includes a "VIP discount". Given the amount already spend (earnest money, appraisal, etc) and the timing of this disclosure (2 business days prior to closing day), we had no other choice but to accept this offer.
Desired Settlement: We would the mortgage to be on the rate lock terms as agreed.
We regret having a customer who's experience had been less than what we both hoped for. In this case, the customer did express his disappointment during the process of receiving his financing approval and we did our best to resolve his concerns. We are limited by both regulatory agency guidelines and individual investor guidelines applicable to mortgage lending. We feel that in the end, our business model of rewarding those with great credit with lower rates and fees compared to other lenders and banks still saved this customer money, it just ended up with less savings than expected. The change was due to servicer guidelines associated with the review appraiser's comments on this customers residential appraisal. We have no ability to choose appraisers and we wish things were different.
In this case the customer appeared to qualified for our Platinum pricing perfectly but in the end the property (according to the independent appraisal) did not. We do our best to communicate the potential issues which might disqualify a customer from closing on a loan with Platinum pricing up front including disclosing how appraisals are sometimes a determining factor. As soon as the appraisal review came in and was reviewed, we communicated the change in pricing due to the appraisal. Appraisals are one of the few "change of circumstances" which by law allow for a lender to re-price and re-disclosure fees. Unfortunately, the timing of re-disclosing due to appraisal issues in a purchase transaction can result in an unpleasant experience.
I have attached our up-front disclosure which the customer has acknowledged he was made aware of for your review. We did our best to look for other ways to reduce the overall costs for the customer including shopping around and lowering his mortgage insurance premium. We do our best to communicate potential scenarios which could be a factor in mortgage financing and help our customers have a great experience at prices lower than most competitors. Sometimes there are elements that are simply out of our ability to know about or control. Sadly, this is one of those cases.
We are sorry but we cannot oblige the customer’s request to amend his interest rate to Platinum pricing due to the independent appraiser's review.