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BBB Accredited Business since

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BBB Accreditation

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 16 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 1 complaint(s) filed against business.
  • Resolution of complaint(s) filed against business.
  • BBB has sufficient background information on this business.

Customer Complaints Summary Read complaint details

1 complaint closed with BBB in last 3 years | 0 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 0
Billing/Collection Issues 0
Delivery Issues 0
Guarantee/Warranty Issues 0
Problems with Product/Service 1
Total Closed Complaints 1

Customer Reviews Summary Read customer reviews

0 Customer Reviews on Bank of Colorado Mortgage Division - Johnstown
Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 0
Negative Experience 0
Total Customer Reviews 0

Additional Information

BBB file opened: July 28, 2004 Business started: 01/01/1910 Business incorporated: 01/01/1910 in CO
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 Management
Mr. Clark Johnson, Branch President Mr. Tom Goding, President
Contact Information
Principal: Mr. Clark Johnson, Branch President
Business Category

Mortgage Bankers Mortgage Brokers

Additional Locations

  • 4848 Thompson Pkwy Ste 200

    Johnstown, CO 80534


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Professional AffiliationsX

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BBB Complaint Process

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Complaint Detail(s)

1/24/2014 Problems with Product/Service | Read Complaint Details

Additional Notes

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.