If yes, click here to login.
BBB Accredited Business since
Phone: (970) 663-2999 Fax: (970) 461-9777 4848 Thompson Pkwy Ste 200, Johnstown, CO 80534
BBB Business Reviews may not be reproduced for sales or promotional purposes.
A BBB Accredited Business since
BBB has determined that Bank of Colorado Mortgage Division - Johnstown 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 Bank of Colorado Mortgage Division - Johnstown include:
- Length of time business has been operating
- Complaint volume filed with BBB for business of this size
- Response to 2 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||2|
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:
Division of Real Estate-Colorado
1560 Broadway Ste 295, Denver CO 80202
Phone Number: (303) 894-2166
Type of Entity
Business ManagementMr. Clark Johnson, Branch President Mr. Tom Goding, President
Mortgage Bankers Mortgage Brokers
4848 Thompson Pkwy Ste 200
Johnstown, CO 80534 Directions
What is a BBB Business Review?
We offer free reviews on businesses that include background, licensing, consumer experience and other information such as governmental actions that is known to BBB. These reviews are provided for businesses that are BBB accredited and also for businesses that are not BBB accredited.
About BBB Business Review Content & Services:
Some Better Business Bureaus offer additional content & services in BBB Business Reviews.
The additional content & services are typically regional in nature or, in some cases, a new product or service that is being tested prior to a more general release.
Not all enhanced content & services are available at all Better Business Bureaus.
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
- Guarantee or Warranty
We do not handle workplace disputes, discrimination claims or claims about the quality of health or legal services.
BBB Complaint Process
Your complaint will be forwarded to the business within two business days. The business 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 business's response when we receive it (or notified that we received no response). Complaints are usually closed within 30 business days.
What is BBB Advertising Review?
BBB promotes truth in advertising by contacting advertisers whose claims conflict with the BBB Code of Advertising. These claims come to our attention from our internal review of advertising, consumer complaints and competitor challenges. BBB asks advertisers to prove their claims, change ads to make offers more clear to consumers, and remove misleading or deceptive statements.
What government actions does BBB report on?
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.
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.
BBB Business Reviews generally cover a three-year reporting period. BBB Business Reviews are subject to change at any time.
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
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.
Read Complaint Details
Complaint: A loan officer who processed our mortgage over a year ago emailed asking if we would like a quote for the new mortgage insurance rates because it would be a great savings to us. I said sure, and that is all that was said. Within a week, we received a notice in the mail saying that our application for refinance was denied based on the credit check they did. Because we did not fill out any application, or even know that one had been filled out for us, I contacted the loan officer twice to get a copy of whatever had been filled out. After no response both times, I contacted the main mortgage department and finally got a copy of the application. Information filled out was incorrect, personal information such as SS # was used, closing costs had been estimated, etc. It was also not signed because we had not approved it, or known about it. It was not disclosed to us that a credit check or application would be filled out before they were done. If we had known about either, we would have said no to the "quote". Our credit now has an inquiry for a refinance that was done without our permission. I have saved all emails, the denial letter and the copy of the application.
Desired Settlement: Policy needs to be changed. Clients should be aware of any credit checks or applications filled out with or without their permission. When offering a "quote", there needs to be disclosure of any procedures taken. After initially questioning her about the credit check, she did not seem to understand that were weren't upset about being denied the loan, but about misuse of our personal information. We would like the credit inquiry removed and have asked that our personal information is no longer used.
To Whom It May Concern:
Problems with Product/Service
Read Complaint Details
Complaint: Bank of Colorado disclosed that the cost of our appraisal would be $450 and collected that fee from our Credit Card. Then contracted with an appraiser for $625. They failed to disclose that there was going to be a greater cost to me when they made the agreement with the appraiser. When our loan was canceled because we couldn't provide the documentation that they were requesting, the appraisal was already in process and the appraiser was going to charge us $325 for the work he had already done. On 8/7/2013, *** ****** who was handling our loan while our Mortgage Loan Officer was out of the office indicated that our credit card would be credited $125 which was the difference between the amount they collected and the amount the appraiser agreed to charge for the work completed.On 8/23/13, we emailed ********* ****** requesting information about the refund. She said she wasn't aware that she needed to request the refund and that she would take care of it. On 8/30/13 I sent another email requsting the status of our refund and I was told it would take two weeks to issue. Finally on 9/6/13 we received a check in the mail, however it was only for $75. I have made several phone call to Bank of Colorado with a promise that they were issuing another check for $50 to cover the difference.As of 9/27/2013 I have yet to receive the other $50 in a refund.In addition to the BBB, I am also filing a compliant with the Consumer Financial Protection Bureau, Colorado Division on Banking and the FDIC.
Desired Settlement: I believe it is only right that due to the deceitful nature under which Bank of Colorado has acted that they should refund the entire amount of the collected $450.00 for the Appraisal. I have spent more time trying to contact and work this out without having to file a compliant through emails and phone calls that I can count. I have numerous emails regarding the refund, and yet nothing has been sent.
Business Response: Our company did disclose $450 for the cost of the appraisal. The quote we received back from the appraiser because the property was a 4-plex was $625. Under no circumstance would the borrower have been charged the $625. If the appraisal would have been completed we would have only charged the borrower $450. The loan was cancelled but the appraiser charged $325 for the work that already been completed on the appraisal. Because the borrower had paid $450 they were due back a refund of $125. However because of an oversight in our finance department, only $75 was refunded. Once we became aware of the oversight we refunded the borrower another $75 which was $25 higher than the actual $50 the borrower was requesting.