I have not yet moved into the house - we closed yesterday - but the entire process has soured me on DR Horton. Initially, I looked at 4 houses being built in a subdivision and chose one. We were told Jim Bryant was the lender with DR Horton who we had to work with.
From the beginning, he has been unwilling to make an effort. My first encounter with him was when I called to ask why he had refused to lock in an interest rate. He said that my realtor had asked him for 72 spead sheets first, each one containing an amortization sheet for a variety of scenarios. I know she didn't ask for 72, and she denied it, too, but that is the number he kept throwing at me and he refused to listen to me, the buyer, until he had completed them and he said he was too busy to complete them.
I told him that we, the buyers, were only interested in one (20% down, 15 yr loan) and that he could do the other 71 (and throw them away) after he locked down the rate for us.
His response to was to tell me it was 4PM and that the market would close in 30 minutes, so he had to wait until the following day and would do it as soon as he was able to.
The following day, I called him at 10AM. He explained that he was in an airport and would lock down a rate as soon as he could and that meanwhile, he was still working on those 72 spread sheets. Again, I told him the spread sheets were not necessary and to please lock down the rate. After reminding me that he was in an airport and unable to do his job, he said that as soon as he was able to, he would assist me. He refused to hand it over to someone else.
I called our realtor and she went over Jim's head. Using a conference call between him, me and someone named Rebecca, we got Jim to agree to lock down a rate before the next day.
The following morning, JIm called me and attempted to walk me through how the market works. I believe the phrase is "mansplaining". I told him that I routinely go over my father-in-law's TDAmeritrade accounts with him and asked again if he would please do his job and lock down the rate.
It took him 2 more days before he called and asked if I was sure I wanted a 15 yr loan and should he do it now. The next day, rates started to fall.
While I understand the market, I do not have access to predictive software the way he does and I feel he not not only knew what he was doing by locking down the highest rate of the month, but he did it maliciously.
He added an HOA and fee to the paperwork. I told him repeatedly that there was no HOA and therefore no fee, but he insisted that if I did not sign the papers as is, the contract would be voided and that he would remove the HOA fee at his convenience. He never did. The fee made it's way to the closing papers and the closing had to held up while it was researched and refunded to us.
As a precaution, we have our credit accounts frozen and at his request, I unfroze them for 8 days so he could run a credit check. I recall he asked me how long they were unfrozen, and then he waited until the 9th day to run the checks and asked me to unfreeze them again. For the second time, I unfroze them for 10 days, but told him they were only open for a couple of days. According to the paperwork Transunion sent me, he waited 4 days before running the credit checks. I feel these were malicious acts on his part as it is common knowledge that temporarily freezing and unfreezing accounts costs money.
Soon, another lender with DR Horton, Kim Pacheco out of San Antonio, began emailing us with requests and notices, sometimes including internal communication she had between her and Mr. Bryant where he would ask for information from us, but would not ask us. It turns out that while Mr. Bryant was collecting all the info he needed from us, he was not forwarding it to the appropriate people. I had to show Kim previously sent emails to prove that we were not being negligent.
Mr. Bryant's correspondence said the loan approval was conditional and we needed a homeowner's insurance policy in place.
As we currently own a home and have a great company, we had set up a new policy with them for the address and I had already sent him the policy number.
His response was to resend the initial request for a policy. He refused to answer the phone when I called, refused to return voicemail and when my husband emailed him, reminding him that we had set up a new policy two weeks prior and the company had asked us several times if the amount would be escrowed into the loan or would we be paying it upfront, Jim's response to my husband was to ask if he meant the new policy because any older one would have to be paid by a homeowner (we still own our current home and have a policy on it as well).
He really did try to "mansplain" homeowners insurance to a man. My husband politely informed him that many people have multiple policies with insurance companies and that everyone involved except Mr. Bryant understood that it was the new policy being discussed. Mr. Bryant never followed up with any more communication, except once when he berated me in an email to Ms. Pacheco, insisting that my mailing her the original of my POA was wrong even though it was at her request. By this time, I was on to his games and had a 2nd POA notarized and sent to my husband as a precaution.
Also, after he handed us off to his assistant and refused to respond to emails and calls from myself, my husband and our realtor, he also withheld the neighborhood convenants of this Architectural Control Board until our attorney demanded them at the closing.
The attorney, the realtor, the contractor and my husband will all corroborate the horrendous treatment we recieved by this man. I have no doubt this complaint will simply be filed and nothing will be done.
Again, I have no experience with the home, but with the representatives of the company and will counsel others to avoid the company.
Reason of review: lender.
Preferred solution: Lender to be written up and sanctioned.