This is by far the worst customer service I have ever received from a bank--it's right up there with the home internet providers. I have been trying for weeks to get a 1098 on a couple of mortgages. When I called on Feb. 10, asked for the forms I had not received, I was told they were "delayed." I asked for a copy of my year-end statement, but I never received one. When I called today, they claimed that the 1098s were sent in mid-January. This time they agreed to send copies, but they need "one or two working days." They could end this problem if they put statements and 1098s online, LIKE EVERY OTHER BANK WEBSITE. You should get one hell of a rate from them to justify the aggravation they will cause you.
I am a corporate attorney and regularly represent clients in large commercial real estate transactions ($500k-$100mm). I had the unfortunate experience of representing a client that engaged Bank of the West as lender. Bank of the West's ineptitude coupled with lack of communication almost killed the deal and resulted in significant delays to closing (months) as well as higher costs and significant, unnecessary payments from my client. I will counsel all of my clients going forward to avoid using Bank of the West at all costs. BUYER BEWARE!
I have a boat loan with Bank of the West for over 5 years. If it was easy to move the mortgage to another company, I'd do it in a heartbeat. I pay my mortgage timely via web page from my personal checking account, a well known national bank. My other mortgages are fine, they get paid electronically bank to bank. For some unknown reason, Bank of the West does not have the required relationship with my bank, so my bank has to physically cut and mail a check. As I've said, I send my checks timely and to the right address (verified numerous times). And about 3-4 times a year, I get a phone call from Bank of the West asking for payment of my mortgage. This is usually about 10-12 days after I've requested the check to be sent. I actually went through the process with my bank to detail the date it was sent and where, etc. A lot of wasted time and effort. For some bizarre reason, the backoffice processing of Bank of the West takes over a business week to process that check. And of course the collection has no idea the check is being processed. So I get a phone call. The matter usually resolves by itself within a day or so after the call. I would never ever do business with this bank again. If I could, I'd move my mortgage.
Bank of the West have always been so helpful for me. I have been banking for decades with them. So obviously I decided to get my mortgage through them. They were so helpful and so quick. I did not have to bother to follow up on my loan status, I was given a call almost everyday with updates by my broker. She took care of everything efficiently. Also, whenever I did have a question since it was my first time she was always available to help me and give me a call right away! Bank of the West has very helpful staff and very good services. I own their credit card as well and its very rewarding. Also thanks to Bank of The West, i ended up getting a pretty decent interest rate. Wonderful bank!
In the event that in a given week, for this product, there were multiple applicable rates in our database based on different criteria, the above graph reflects the lowest interest rate recorded. Before submitting an application, always verify with the issuing institution (i.e. bank, credit union, other lender) the rates, fees, and all terms and conditions accompanying the application.