ComplaintsforThe Union Bank

• Initial Complaint

  04/08/2022

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  I was charged $505 for an appraisal fee without my knowledge that it would be withdrawn from my account causing my account to have an overdraft fee of $35, causing it to be negative $540.

  Business response

  05/09/2022

  (BBB transcription of email from business)

  Re: Complaint ID - ******** ****** We are having an issue responding to this complaint online. Below is our response the customer’s complaint. Could you please ensure this gets posted on our behalf? Many thanks – our response is below…. At application, we explain that the appraisal services are provided by a third party. We collect a signed credit card authorization form from our clients to pay for third party appraisal services. The credit card is either charged up front or in the event the loan doesn’t close. On this loan, the Mortgage Banker communicated that the cost of the appraisal could be rolled into the loan at closing, and should the loan not close, the borrower’s credit card would be used for payment. During the processing and underwriting stages of this loan, there was a misunderstanding on whether or not the loan would move forward, and as a result the card was charged. We have reiterated to our Team that it’s important to communicate clearly and effectively in these situations. Obtaining clear direction from our clients regarding their decision to proceed is needed prior to executing the credit card authorization. We apologize for the inconvenience and will provide a refund to cover the overdraft charge.

  
  

   

  Customer response

  05/09/2022

  
  Complaint: ********
  
  I am rejecting this response because:

  It was not communicated to me that my home had to appraise at $370,000 in order for the loan to close. I would have never agreed to move forward with the appraisal or the loan if that was disclosed. I paid for a appraisal that I cannot use. The bank knew the that the home had to appraise for that amount and was false in not disclosing that fact caused stress and now I am out money for the appraisal and have to get a loan at a higher interest rate because interest rates have increased. This banker, Mike *******, is a dishonest banker. I want the whole amount of $525.00 retuned to my account. 
  
  Sincerely,
  
  ********* ******

  Business response

  05/19/2022

  Ms. ******,
  
  Thank you for reaching out. Client satisfaction is our top priority, and we’re sorry for any frustration you’ve experienced by not realizing the importance of your home’s value to the mortgage approval process. Qualifying for a mortgage involves a lot of pieces coming together. Your income, debt, credit score, assets, and property all play major roles in getting approved for a mortgage loan.
  
  We provided a disclosure to you soon after you applied for a mortgage loan that explained that we may order an appraisal to determine the property’s value and charge you for this appraisal, and we promptly provided you with a copy of the appraisal after it was completed. We also obtained a signed credit card authorization form from you that clearly stated the reason for and amount of the fee that would be charged.
  
  While we feel that our up-front communication and disclosures were appropriate, we regret that you were caught off guard by the charge, and we have reviewed our processes to ensure that we clearly and effectively communicate with our clients at all stages of the loan application process. Because we fell short of your expectations, and as a gesture of goodwill, we will refund you for the cost of the third-party appraisal services. If you have any other questions or concerns, please let us know.

  Customer response

  05/20/2022

  
  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.
  
  Sincerely,
  
  ********* ******

• Initial Complaint

  01/14/2022

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  In August, I was contacted by a mortgage banker from The Union Bank Co about refinancing my mortgage. I was upfront and explained doing a refinance would be a lot of work due to things left behind by my ex husband. The banker was very understanding and explained Union Bank works with these types of situations all of the time. With hesitation I provided the banker all of the requested information. After a short time they requested more information that I provided right away. The banker came back to me providing me an approval to refinance my mortgage. Everything was going great! They requested an appraisal on the property, it was completed quickly. The banker still very helpful and assured me everything should be completed in a short time. All information was provided to the title company and that is where things slowed down. I provided them all information they requested but due to the problems with my ex husband they were not able to clear the loan to close. At that point ( early Nov)Union Bank withdrew the loan that they had approved. Now a few months later The Union Bank is reaching out to me telling me I need to pay for the appraisal they completed even thou the loan did not close. I work for a multi million dollar bank and if we are not able to get a loan completed we do not ask our customers to pay for due diligence that was requested if the loan never closed. Them asking me to pay for this is BAD business. I was upfront about the issues they would come across and they provided me an approval that they withdrew. The banker I worked with is telling me that if I do not pay for this they will take it out of her paycheck. The banker told me Union Bank has been burned too many times paying for appraisals on loans that never closed. This is bad customer relations. Not sure why anyone would want to work for a bank that treated their employees like this.

  Business response

  02/15/2022

  Business supplied email:
  Use this address for any contact with the Better Business Bureau

  Business response

  02/16/2022

  The Union Bank Company did not bill *** ***** ******* for the cost of appraisal.
  
  Thanks,
  ****** ** ********
  *** *********** ********** *******
  The Union Bank Company

  Business response

  02/18/2022

  The Union Bank Company did not bill *** ***** ******* for the cost of appraisal.
  
  Thanks,
  ****** ** ********
  *** *********** ********** *******
  The Union Bank Company

• Initial Complaint

  09/23/2021

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  I had a mortgage loan with this establishment for the better part of 20 years. I found out when trying to refinance that my credit score was very low because Union Bank was not reporting my payments to the credit bureau's and when I asked about it and why they weren't reporting my payments they claimed they weren't sure but assumed that It was because I had filed bankruptcy previously. At that time it had been at least 8 years since the bankruptcy and I had always kept up my mortgage payments. I closed on my new mortgage with a different bank on June 21st, 2021 and The Union Bank Mortgage was paid off approximately 1 week later, which would have still been in June of 2021. I am being told by my new financial institution that Union Bank reported me for a late payment in August of 2021! How is this possible when the loan was paid off? So for the last 6-8 years they refuse to report my on time payments but report me as late after I paid the mortgage off!

  Business response

  01/01/1900

  Business Response /* (1000, 5, 2021/10/08) */  On October 30, 2006, complainant closed on a 30 year fixed rate mortgage loan with a monthly payment due on the 1st of the month, beginning on January 1, 2007. The mortgage was expected to mature on December 1, 2036. A loan modification agreement was signed on February 19, 2010, extending the mortgage for an additional 40 years, establishing a new maturity date of March 1, 2050. On November 7, 2011, a bankruptcy reaffirmation agreement was signed. Since the borrower reaffirmed the outstanding balance and monthly payments, The Union Bank Company continued to report the borrower's payment history to the credit bureaus. All payments were scheduled due on the 1st day of each month with a 15 day grace period before any late charges would be assessed. After the bankruptcy reaffirmation agreement, the borrower did make all monthly payments to The Union Bank Company until May 1, 2021. Since no payment was received in May 2021, the loan was reported to the credit bureaus as past due on the June 15, 2021 report. Then on June 29, 2021, The Union Bank Company received a payoff for the loan. On our July 15, 2021 report to the credit bureaus, our record shows we reported the current balance as "0", the amount past due as "0" and the date closed as "06/29/2021". The same information was reported on August 13, 2021 to the credit bureaus. Since we have reported the payment history on the loan from October 30, 2006 through June 29, 2021, there is no corrective action for The Union Bank Company to take.

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩