Watermark Home Loans
Reviews and Complaints

This company is absolutely terrible - save yourself the trouble and your dream home because they will lose it. This lender chose an appraiser that went outside the scope of their work, refused to complete the appraisal, and when I tried to contact *** and her team Lead *** to move the process forward they ignored my phone calls. What lending company intentionally ignores the buyer?! Then they sided with the appraiser despite the fact that the appraiser was not doing his job AND delayed the appraisal until AFTER the close date! That means it took OVER 30 days to get the appraisal back in the first place - absolutely insane. Also, we requested a different appraiser and instead of providing a new one, they sent the same guy out a week later (why would they send him out again if he already did his inspections - nothing about this company's decision-making processes make any sense). Lastly, they have a company culture that's unapologetic and defends their employees even when they're dead clear in the wrong. These people are arrogant, stubborn, rude, unprofessional, lazy, and incompetent. They are the exact example of the proverbial fool. Anyways, if you want a lender with terrible communication who ignore their clients, work with awful AMCs/appraisers with no accountability, and end up losing your home, then Watermark is the perfect choice! Now I have to pay a market rate at 1.5% higher interest rate and buy a home at the same monthly mortgage with 1 less bedroom!

Watermark is a terrible lender, be careful! If you care about your time and business, don't get involved with these people. Here I describe just one problem of several I encountered. They want you to sign a document with all your credit card info, complete address, and your full signature so they can process an appraisal of your house, but this puts your identity at risk. None of the lenders I looked into had this risky requirement. A good lender (like my current mortgage lender did) lets your bank send you a secure link for payment, so you don't have to reveal your whole identity in a document that you send over the internet. When I told them I wanted a safer method, they suggested a third-party company that was supposed to collect the money to pay the actual Appraiser (for some reason, I couldn't pay the appraiser directly). This call never happened for weeks, and the third-party company never contacted me by phone or email, wasting a lot of time and resulting in the loan being canceled. On top of this, the document authorized an amount that was more than the appraisal amount I signed for. When I asked why, I never got a real explanation. I regret not reading all the BAD reviews that this Watermark company has, they are shocking. Also, communication is poor, it takes too long to get answers to your questions. Don't do business with or get involved with Watermark Home Loans, you'll be very unhappy in the end!

Had a very horible experience with Watermark. They gave a good rate, but the communication from the loan officer was very bad. During the loan process, I have submitted all the documents that are required by them. When the loan was approved and about to be signing in, They had not sent me the closing disclosure. I had sent multiple emails to the loan officer about sending the closing disclosure. They kept delaying and insisting that I will get it as part of sign in process from the Notary. I asked to get it upfront, but they said they cannot generate from their system. When I got to see the closing disclosure from the Notary for the first time, I had questions about the closing disclosure. I called the loan office and he did not pick up. Later he texted me saying that he was at a birthday party and cannot talk. When I texted him the question that I had regarding the closing disclosure, he said he do not know. He also said he is not in front of a computer, and insisted that I sign the document and he can clarify it later. I said I am not comfortable, till the closing disclosure showing discrepancy is clarified upfront. He said he do not know answer for that. I chose not to sign the document. Later after a week, got a call from his manager, and he said that I had wasted their time and money for the notary and I had to pay again if I would like to proceed with the loan. I said, I was never given closing disclosure before signing the document. They were rude, adamant in the overall conversation saying that I should have signed the loan closing earlier even if I don't have answers to the questions. Technically they don't have answers to any of my questions about closing disclosures. Doesn't seem sound enough to understand the clarifying questions that I had asked. It was a very very horible experience. The way they treat the customers is so bad. Finally I chose not to proceed with them.

This company, Watermark Home Loans, is the worst ever! I can't believe how they treated me. It really makes me question those positive reviews. I applied for a refi four months ago, before COVID-19, when my wife and I had jobs and good income. We have an investment property that is rented out, and we can use the rental income to qualify. When I applied, they were friendly and gave me a great rate. They asked for an appraisal, even though I had one done recently, but I did it anyway to speed up the process. It was difficult because of the tenants and COVID-19, but they complied and I paid for the appraisal. The report showed almost $100k in equity in the house. Everything looked good, so I waited. After a week with no response, I called to check the status. They said they were backed up with applications, so I waited. My rate lock deadline was approaching, so I called again. They said they couldn't meet the deadline but would pay for a rate lock extension. I was okay with that and continued to wait. Weeks went by without any contact. I started to get irritated, but when I finally got in touch, they confirmed that it was coming soon. I waited some more, and during that time, they mixed up my file with someone else multiple times. They even asked me to gift my house to someone, which was confusing until they admitted the mix-up. Every time I called, they acted like they didn't know who I was until I gave them my information. I waited for four months, and then the pandemic hit hard, and my wife and I were furloughed. They called me and said there was nothing they could do for me now. I was very upset because I had spent four months on this application before being furloughed. I have great credit, over 740, over $100k in equity, and I invested nearly $1k on the appraisal. But there's more. They told me I could use my rental income and get a temporary job to qualify. So we tried that, but another issue came up. We were living with family, and they couldn't use my rental income without a homestead. I thought maybe we could still save the deal by applying for an FHA loan for our first property to live in. They said that would work, so I agreed. They asked for my first pay stubs from the temporary job and proof of income from the rental. I was happy to provide them. Then I found out they did a hard inquiry on my credit without my permission. I called and they said they had to do it for FHA. I'm pretty sure they need authorization to pull credit, like they did the first time. They did it without my permission, and I wasn't happy. But I let it go, hoping to close soon. Today, they called and asked for my wife's last two pay stubs. I was confused because she's furloughed. When I told them that, they seemed surprised. I got really mad because I made it clear in every email and phone call that we were both furloughed. Then they had an issue with my job being temporary, even though I made it crystal clear that it was temporary until I went back to my actual job. I asked to speak to a manager, but they never contacted me. They just ended it with a sorry, there's nothing we can do for you. They kept me waiting for four months, made me pay for an unnecessary appraisal, did two hard pulls on my credit, and kept dragging me along. This was all their fault. I was ready to close three months ago and met all the requirements, but they always had an excuse to push me back and extend the rate lock. I'm very upset about the poor service, and I highly recommend going somewhere else. Those high reviews seem suspicious considering how I was treated by Watermark staff. I highly doubt anyone from Watermark Home Loans will even contact me back.

Jody did a excellent job. She help to get the best interest rate. She is very knowledgeable and helpful

Jody was very helpful with our mortgage refinance. She guided and helped us through all the step. I would definitely recommend her to or friends and family.

I refinanced in middle of the Pandemic; even though there were some challenges and delays, we finally closed. Jody was very pleasant, responsive and professional throughout the whole process.

I worked with a Jody. From the beginning of the process she was thorough, timely and efficient. She answered any questions I had and responded very quickly. She got me the lowest rate and closed and funded on the date we planned. I can’t say enough good things about Jody. I highly recommend her.

We just finished using Jody C and Watermark for our Refi. In over 30 years of buying and refinancing homes, Jody was by far the best! Jody was extremely profession, knowledgeable, prompt and responsive to any questions I had via email or phone. She was totally on target regarding anticipated costs and timing in processing the refi, even in the crazy Covid 19 times. I highly recommend her.

This is my third time using Watermark and I am always happy with the process. Dominic our lender is so wonderful and easy to work with. He has always been helpful with any questions I have had and I have had a lot. During my loan process I have worked with other people from Watermark and each one has been very pleasant and attentive. I highly recommend Watermark! I will continue working with them in the future.

Jody C was patient, knowledgeable, and fun to work with. She patiently answered all my questions (I'm a first-time refinancer, so I had a lot). Even with all the mess going on with the pandemic she took the time to answer emails, seemingly at all hours of the day. As the economic impact of the pandemic affected mortgage and refi rates, Jody and her team were able to float down my rate to beat the current market offerings. I highly recommend working with her!

Jody C helped us refinance our mortgage twice - once to get a great rate, and then again to bring down the rate from their own company, Watermark. Typically you have to switch to a different lender in order to improve your rate, but they advertised that they would do this if rates dropped and held true to their word. Making sure to test the market, I found the best available rate and presented it to Jody, which she was able to improve upon. I think I'm at the lowest I will get on 30-year, but I won't cry if I'm wrong about that. Go with Watermark and Jody!

I just completed a refi with Watermark. Everything went well except for the time frame. Because it was a refi, the timing wasn't hugely important, but it felt like I had to call every few weeks. Almost immediately after each call, I would be asked for additional documents or progressed to the next step. Everyone was kind and helpful, and other than the timing and overall lack of communication on their part, everything went smoothly as agreed. My application and all documents were completed on Oct 8th. The loan balance payoff occurred on Dec 1st. We made the Dec payment because nothing had been communicated at that time. Overall we are happy with the rate and term.

Very, very disappointed to say the least. Three months have past and still no loan. I've uploaded over 70 documents requested. If I can't get a loan from Watermark, what makes you think you will? 1. my credit score is 813 2. I'm only borrowing 22% of my home appraised value! 3. Lots, and lot's of income, in the hundreds of thousands. 4. Zero cash out, conventional 30yr loan 6. $2000/mo mortgage of which $1000 is principal 7. Millionaire multiple times over. 8. More cash in an account then loan amount. Yet I can't get a loan from them. Buyer beware, DON'T EVEN START WITH THEM. You'll regret it. To be fair, I will update this review if and when it's over with the final outcome.

I refinanced my mortgage with Watermark this year. The loan closed in March . When I got my settlement statement from the escrow company, I found out that Watermark had asked my previous lender (CenLAR) for a payoff statement FIVE times. Each request cost me $30, so I had to pay an extra $150 to my old lender to close the loan. I've contacted Watermark multiple times since the closing, and they've passed me on to three different people. I haven't received a satisfactory answer yet. Each person I've talked to agrees that this shouldn't have happened, but then they ignore me or deny that it ever occurred. Even though I've sent them hard copies of the FIVE requests, Watermark's latest response is blaming my previous lender: "looks like nothing was ordered extra and this is all on the end of your old mortgage company."

I refinanced my mortgage with Watermark Home Loans in August . In September , I got a letter in the mail from San Bernardino County with a bill for my property taxes. When refinancing the loan, I made an escrow account to cover Property Tax. Because the mailing date of the bill and the close of my refinance were close together, I called Watermark Home Loans and asked about this tax bill. I told them the due date (December ) and the amount due. They said the bill would be paid from my escrow account by the due date and "not to worry about it." In December, I got a second letter from the county tax collector. It said that because the bill was not paid on time, I was being charged a penalty of $154.50. Over the next four months, I tried to contact my escrow account servicer through Watermark Capital. I sent multiple messages and talked to multiple people on the phone to find out if the penalty was paid. I also asked for a statement showing that the penalty was paid from a different account. This penalty was a result of the company's failure. I never received a response from the company that addressed the issue. One response told me to call customer service, which I did. I spoke to a woman on the phone for over half an hour. She said I would receive a reply soon. This was in mid-January . I haven't heard anything back and have tried multiple times to resolve the issue with the company.

On May 9th, I reached out to Watermark Capital (WMC) to cancel my escrow account. I sent them an email with my request. They said it would take 48 hours plus 10 days for the refund check to be sent. On May 10th, I got a confirmation from WMC that they would close the account. However, on May 23rd, I hadn't received my refund check, so I contacted them again. They told me that the escrow analysis had just been confirmed and the check would be sent in 3-5 days. I called them on May 27th to confirm, but the check hadn't been mailed. I asked to speak to a supervisor, but they said it would take a long time for someone to connect with me. During that call, I asked them not to auto-draft any more escrow amounts from my monthly mortgage payment on June 1st. On May 31st, I received an email saying that a member of the Escalation Team would contact me. On June 1st, I spoke with someone from the team and they said they needed my current insurance declaration on file. I told them I had uploaded it on April 1st and they confirmed receiving it. They said they would expedite the closure of my account and call me to confirm by the end of the week. However, my mortgage payment on June 1st still included the escrow amount. By June 3rd, I hadn't received a call from them. On June 6th, I called WMC again and spoke with someone who said they were out sick the previous week. They said they needed another 3-5 days to analyze the issue and close the account. I asked to speak with their supervisor, but I never received a call. I called WMC again and spoke with someone else who said they would expedite the process and try to close the account within 24 hours. They said they would call me to confirm the closure on June 7th, but I never received a call. I left two voicemails. As of June 7th, I still don't know why my account hasn't been closed and I don't have a confirmed date for when I will receive my refund check.