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Watermark Capital, Inc.
- Irvine, CA
About this business
Location details
100 Spectrum Center Dr, Ste 520, Irvine, CA, 92618, United States
Get directions| Weekday | Schedule | Status |
|---|---|---|
| Mon | 8:00 a.m. to 6:00 p.m. | |
| Tue | 8:00 a.m. to 6:00 p.m. | |
| Wed | 8:00 a.m. to 6:00 p.m. | |
| Thu | 8:00 a.m. to 6:00 p.m. | |
| Fri | 8:00 a.m. to 6:00 p.m. | |
| Sat | Closed | |
| Sun | Closed |
Watermark was single minded in attempting to package a jumbo loan, which did not work for our situation. While our incomes are high (>700k annual household income), extenuating circumstances required some creative financing in order to close the loan. That said, Watermark continued to press on, trying to fit a square peg in a round hole - only days prior to the contracted date for closing. With stress levels extremely high, our only option, we felt, was to change lenders. Unfortunately, in the midst of all the commotion, we ... read more
Wouldn't do it again. Things started off great... Nick was very nice and willing to explain things at length over the phone. If I had a question over email, he'd typically call back with a thorough answer. That didn't last once we were committed. Eventually I began to notice the underwriting process on their side was slow and disorganized. We have a very simple "file" (credit history, etc.), extremely good credit and gave them everything they asked for almost immediately so no excuse from their side. We were supposed to clos... read more
Avoid at all cost! Worst experience ever! Unprofessional, been dragging it for more than two months with no reason then have asked to pay for lock extension. Had to cancel, lost time and money. Avoid!
My worst experience ever!!! DO NOT USE WATERMARK!!! I waited until August 2015 when I had time to deal with a refi cash out when I submitted my request to Watermark. It started out at one rate, quick 30 day close, no cost---and morphed to a higher rate, cost over $2000, took almost 5 MONTHS to CLOSE and at the twelfth hour they said we could not have the $32k cash out, we had to pay off our car loan ($27k). WHAT? Unbelievable! We were well qualified, have 2/3% the loan value in liquid assets and the loan payment was only 19%... read more
Business response:
Contrary to the statement above, the borrower submitted an application for a loan in late October, and they supplied all required loan documents mid-November for loan submission. The actual approval took just over a month. During approval we helped improve their credit scores and assisted them through an appraisal contestation process to improve their home valuation by over $100K. Even with the valuation improvement, we were still short a significant amount based on the clients own opinion of value which caused debt ratio is... read more
They do promise a low rate but then they milk your money by making mistakes and asking for way more information than needed and coming up with more things to clarify. A 1% point buy down became a 1.7% all of the sudden due to their lack of communication and making "mistakes" that delay the process 3 days every time. From a 2 month period now became a 3+ months adding fees left and right.
Business response:
It is Watermark's goal to ensure all clients receive the highest level of service and we regret that this borrower was not satisfied with our level of work on this loan. Contrary to the statement above, our borrower approached us two months ago after leaving another lender mid-transaction to take our lower rate. Through the loan process it was discovered that there were issues with the roof and we needed to address this. Additionally the borrower was asked to liquidate funds needed for closing very early in the process but d... read more
Brock Hicks dropped the ball. He was initially responsive. However, throughout the loan process, Brock started to suspiciously not respond to any messages except to give vague hints that he indeed is still working on the loan. After a month and a half rolled around, and there was no loan, it turned out that, no, he was not actually working on the loan. Meanwhile, rates went up, and we were left in a very unpleasant place. The whole experience was quite bizarre and left a bad taste in my mouth.EDIT: Watermark responded to the... read more
Business response:
It is Watermark's goal to ensure all clients receive the highest level of service and we regret that this borrower was not satisfied with our level of work on this loan. This borrower originally approached us back in Dec 2014 for a purchase loan and decided, with advice from his realtor, to take an offer with a higher rate from other lender. After closing that loan, he came back to us for a refinance but opted not to lock into a lower rate on two different occasions, although it was available, in order to avoid double-intere... read more
I got a quote from Kory, I was constantly following up with everythign but Kory took days to respond. Finally, after a painful follow up process, I locked - After I locked, the appraisal didn't come in to the value I expected. Before discussing further options such as keeping the lock and paying down the loan on the side, Kory released the lock. Of-course market rates went up and now I'm out of luck.I had a serious lack of communication so I contacted the supervisor / management, Junius. I still havent heard back from Junius... read more
Business response:
It is Watermark's goal to ensure all clients receive the highest level of service and we regret that this borrower was not satisfied with our level of work on this loan. Unfortunately, Watermark has no influence on what an appraiser would determine as fair market value on any borrower’s property. As the borrower states above the value of his home came in lower than what was anticipated and as a result, the only way to obtain the original terms of the lock was to have the client bring in additional funds at closing. Also, the... read more
The service provided by Watermark (Cathy Dragna) was absolutely unacceptable. Only when I inquired about the status of my loan application two weeks prior to the expiry of the 45-day loan lock period, did I learn about missing documentation. I had been under the impression that it was their job to shepherd the process through to completion. Silly me – apparently it was my job! On multiple occasions sensitive documents (containing social security numbers) were transmitted via e-mail without password protection (despite being ... read more
Business response:
It is Watermark's goal to ensure all clients receive the highest level of service and we regret that this borrower was not satisfied with our level of work on this loan. In the initial loan process the borrower cancelled an appraisal appointment and alluded to cancelling the loan to make attempts to improve credit to obtain a better rate at another lender. This was interpreted as a formal request to stop all work and so the credit underwrite was left unfinished. When the borrower did re-initiate the loan with us, we then fin... read more
Other reviews in Zillow were good, so I trusted them and went with Watermark, with Casey Lamm as my loan officer. Their rate was better than the rest; however, if I had to do it again, I would never use them.We started working on Dec 15th, and at the beginning everything went OK, locking the rate for 45 days (should be enough, right?). They ordered the appraisal on Dec 17th. However, a lot of the questions I asked them through email were never answered, and I had to find out about the appraisal status by the charge on my cre... read more
Business response:
It is Watermark's goal to ensure all clients receive the highest level of service and we regret that this client was not satisfied with our level of work on this loan. By law, all appraisals must be conducted through a third party and Watermark doesn’t have any direct communication with the appraiser. As a courtesy, Watermark did extend the lock term to accommodate the appraiser’s delays. On condo approvals, a borrower’s HOA controls 100% fees associated with condo approvals and client was aware of this from the initial star... read more
Frequently asked questions about Watermark Capital, Inc.
How is Watermark Capital, Inc. rated?
Watermark Capital, Inc. has a 4.7 star rating with 2,765 reviews.
When is Watermark Capital, Inc. open?
Watermark Capital, Inc. is closed now. It will open tomorrow at 8:00 a.m.