Timothy Penner

Excellent service

Wow. Though I got a great interest rate, the entire transaction was at risk of failure due to delays and miscommunications. Some of the blame clearly lies at the foot of the institution, which is a mega-bank with departments and employees processing your loan from multiple different time zones. However, the local loan officer must take responsibility for their part as well. I was receiving erroneous information right up until the closing day. It took a massive amount of time and effort on my part to get a conditional loan approval after 3 weeks. We were forced to get a back-up lender (Wells Fargo) who completed the same conditional loan approval process in 5 days. I cannot summarize nor do justice to my entire experience in this brief review. It was not worth getting a marginally better interest rate to put the entire transaction at risk. If you use this lender, be sure to have conditional loan approval from a second lender, and be ready to cut them loose at the first sign of trouble.

Tim was great and answered all my questions while I was buying my first house. He was always just a text away.

Tim served as a proxy for me to interact with other associates at Bank of America in the lending, underwriting, and closing departments. At times I felt out of touch and unsure of where our loan was at in the process. Maybe this is just typical of mortgage companies. Both times I've purchased I felt like in the last week before we close it became unclear of where our loan was at in the process and when we would be closing.

Tim and his assistant Kristen were always availble to answer questions, and update us on our loan process.