This profile has been claimed by the business owner or representative.
Watermark Capital, Inc.
- Irvine, CA
About this business
Location details
16500 Bake Pkwy, 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 |
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
I began working with Jennifer Chang mid-Jan. After realizing Jennifer was not handling the file properly I involved her Mgr Mike Greenberg. Mike began asking for some of the same docs I had already sent Jennifer weeks prior only offering the explanation that the docs "were not in my file". Friday, Feb 20th, the business day before my loan was to close on Feb 23, Mike advised me the underwriter was not comfortable with the appraised value of the home. They appraiser was chosen by Watermark and completed his work Feb 2. I was ... 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. This client forwarded us a purchase contract on January 26th and we received the final documentation needed to complete our credit underwrite on February 12th. Usually these timelines are 2-3 business days so 13-14 days to wait for client documentation can really hurt the overall processing of the loan. The appraisal is sent in with the credit package so the o... read more
Locked in what looked like the best deal at the time but it was too good to be true. I believe Ryan Sheets had the right intentions but he just could not delivery. Everything was laid out for him before we locked. I made it all very clear and provided all the documents immediately after our first conversation. After having time to review those documents and knowing all the details he still locked my rate and ran my credit. After that my response times for follow ups started to get longer and longer. Finally 16 days later 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 client was not satisfied with our level of work on this loan. The client presented a refinance opportunity to us for a primary residence but where we needed income from a vacation rental to qualify. Since these rentals do not hold traditional lease terms, this scenario was submitted for an exception and was not approved. Contrary to the client’s own timeline, Watermark delivered this news with four days of receiving all ... read more
If you like quick email replies, straight forward answers and a smooth process: Run away from these guys. Casey Lamm sent me 50 emails and if I put them together it would fill one page. Underwriters can't read basic legal documents. Wow! If only I could get the last month back I wasted with these clowns.
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. The loan was initially presented to us with a Chapter 7 bankruptcy that took place in 2010. Ultimately the client was not able to prove the prior mortgages were settled as a result of the bankruptcy and as result we denied him for a loan.
These guys are horrible. Quoted a low apr, but could not deliver. Horrible at calling back. Just a horrible overall experience. Watermark home loans wasted my time. Would not recommend them to anyone.
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. The loan was initially presented to us with the client receiving rental income on a number of properties and this income was required to qualify for the loan. Through the underwriting process, it was discovered that some of these properties were recently transferred to another party. As a result, Watermark could no longer use the income from those properties t... read more
BEWARE! BAIT AND SWITCH! I applied for a jumbo cash out refinance and was approved, ordered the appraisal, which came back as expected. Then all of the sudden, they didn't have any "investors" for the loan. But they told me they could offer me a first and a second. I was skeptical, but I was guaranteed they could get this done....so I trusted them.....They did the first and when it came time to for the second, they said I didn't qualify. So now I'm stuck with a first that I don't even want! The worst part about all of this i... 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. This client approached us to obtain a cash-out loan to pay contractors for work done on their property. Watermark did in fact approve and close on a loan for this client at a rate 0.25% better than they expected but was not able to obtain the entire amount of cash they needed to fully pay off their creditors due to their limited income. We believe it is always... read more
Company/assistant couldn't handle expats in the US. Communication was very slow and it took more than 2 weeks to inform me that Watermark underwriters will not support my expat loan application. Very frustrating!
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. This client had a lack of established credit and we did our best to look at other compensating factors to try to qualify him. This process is exception based and it takes time to analyze these factors in their entirety. In the end we did not get the approval but the time spent trying to obtain this should not be interpreted as discourteous or uncaring, in fact... read more
After getting 4-5 quotes, we chose to work with Watermark for the low rates and they had reassured us that they could close in 30 days. We should have realized that something wasn't quite right because their pre-approval process didn't seem as thorough as the other lenders that we spoke with. My husband had gotten the quote from Casey Lamm but we ended up locking in a rate with Junius Kim because Casey wasn't available on the day that we needed to lock in a rate and get things going with a lender. We were told that appraisal... 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. With most purchases, fees are ordered/supplied through the seller's settlement company. This client does not mention that it took over a week to obtain this information. Also, this client delayed the signing of loan disclosures and a part of these disclosures were borrower's authorizations that by law are required to contact employers regarding employment hist... 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 2,784 reviews.
When is Watermark Capital, Inc. open?
Watermark Capital, Inc. is open now. It will close at 6:00 p.m.