Derek Walsh

STAY AWAY! I should have listened to everyone that told me to stay from Bank of America (or any major bank for that matter, but specially Bank of America), but Derek convinced me otherwise. We had several meetings about my main concerns (1. Reputation for not being able to close on time 2. Going silent when things were not going according to plan). He assured me neither would happen and that BofA had come a long way since the financial crisis, which he assured me was the only reason BofA had a bad rep. Seeing as how I have an 800+ credit rating and enough assets to cover the loan, I figured it would be as straightforward as he was telling me it was going to be. Long story short, it could not have turned out to be a more horrible experience with the Bank. Not only did they take twice as long to close as they had originally promised, but they completely went silent on us for a full two weeks. They would not respond to calls, text messages, emails, etc! The few times they did reply, they were unapologetic and unsympathetic and provided no information as to what was going on except that they were not going to close that day. They repeatedly misrepresented the status of the loan (assured me all papers had been submitted and stamped with final approval soon only to ask me a week later to sign another form they had forgotten). They invented everything from being on planes to their system crashing and not being able to submit forms internally, to the underwriter having a personal emergency and having to reassign to another one along the way. They knew I was going to be homeless if we didn’t close two weeks after our close date (which had a two week buffer to start) and even then they refused to communicate the status of the loan until the night of saying it was still pending. They never so much as asked where I was going to live or offered to assist in ensuring I was not homeless while the loan closed. Absolutely the worst bank I have ever dealt with, which is a shame as it is my main bank I am under their "Platinum Tier". They stated their hands were tied as they submitted to underwriting and that they had no idea what was going on. That's the main issue, the bank is so big so many people have to sign and be involved in the process that the right hand has no idea what the left hand is doing. Do yourself a favor and stay as FAR AWAY from Bank Of America as possible. They are worse than used car salesmen. They will promise you the sun and the moon and lie straight to your face and when things go wrong, simply refuse to send any updates or pick up calls from you, your agent or the redfin coordinator. Don’t believe them when they say that they have changed and that their reputation is far in the past. I should have listened and not used them as I figured, "how bad can it be with my straightforward loan?" Well, I never wish the stress or hell they put us through on our worst enemy. Consider yourself warned.