I have a credit score of 760, no liability and significant assets. I requested a small loan with heavy equity - 15/85 balance. I have been asked to submit the same items numerous times and was promised a close date of 6/30, then 7/1, then 7/6, 7/7 and now 7/9. We are living in a hotel and I am accruing a daily penalty on my purchase for every day past 6/30 I haven’t closed. The original processor went on vacation last week and handed it off to someone else. I was provided an payoff letter for the sale of my home which expired and it took several efforts to get a new one. I received it 20 minutes before close. The title company was going to escrow funds due me bc of lack of payoff letter. This would have caused additional delay on the purchase of my next home. I started this process in May to avoid last minute issues. It has been a dysfunctional disaster. Much of this could have been avoided had the original processor informed me of certain things earlier and reviewed earlier. It has been a complete disappointment.
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Product: BMO Harris Bank Mortgages
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4
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John Strickland @foxstreet480
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I have had a mortgage with BMO for several years. For the third time in that period, I received a call about a late mortgage payment only to discover that the automatic deduction of that payment from my BMO checking account randomly didn't occur for the month of May. This has happended twice before, and after talking to multiple departments and supervisors, I was never given any explanation as to why. I'm now on hold waiting for a supervisor again - three phone trees and two transfers later. Beware giving any bank your money if they can't get the basics right.
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Product: BMO Harris Bank Mortgages
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2
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william davis @heartprotection
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My initial dealings with BMO were very positive. However, over the past year, they have introduced onerous, unfair, hurtful policies. For example, I started receiving hundreds of dollars per month in late fees, even though all payments were mailed several days or more before due date. Discussions with their representatives revealed that you must mail your payment 10 days before the due date or else late fees--that they will not remove--are charged. This is other absurd and unfair practices make this a horrible bank to deal with. I would urge anyone to not do any business with this awful bank.
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Product: BMO Harris Bank Mortgages
Comment
7
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restivoj @restivoj
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I have been trying to resolve an issue regarding a flood insurance requirement on my home for the last 8 months. I have called at least 30 times and every time I must tell the entire story to the person to only then be transferred to a supervisor and then repeat my problem to them. They tell me they have all needed documents, and it should get resolved in 4-7 days. This never happens. I call back in a week, and it all starts over again. This has been the absolute worst experience of my life and I don't see an end. If you have an issue with BMO Harris I wish you better luck than I have had. I would not recommend the bank for anything.
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Product: BMO Harris Bank Mortgages
Comment
0
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bronu61 @bronu61
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Applied for a home equity loan. I have emailed Arthur Little 3 times and he has not repsonded. I have been a Harris bank customer for 25 years and the service gets worse every year. I’m ready to move all my accounts (checking and money market) to Alliant Credit union which has superb service and rates
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Product: BMO Harris Bank Mortgages
Comment
0
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kevin_gill @kevin_gill
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Verified Customer
I am a 25-year customer of BMO Harris I have tried to refinance my mortgage they've used bait and switch tactics where they advertised 2.75% rates, and then they come up with every exception in the world to make sure that my rate is three and a quarter I can't support that type of bad behavior. No loyalty to their customers.
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Product: BMO Harris Bank Mortgages
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0
0
Michelle Gruber @choiceonecorp
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Absolutely the worst Mortgage company I have ever dealt with. 43 hours on the phone and I still can't pay my mortgage online. Also I have owned multiple homes over the 33 years & I have never experienced anything so poor.
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Product: BMO Harris Bank Mortgages
Comment
0
0
Nick M @nickmakara
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It is VERY hard to communicate with BMO harris bank. They do not answer emails and when calling, you are put on hold indefinitely. The only way to get any response is to go to Physical Branch and then they spend the whole time on the phone with their Corporate Headquarters because nobody at the branch has access to anything except seeing your account balance. I am members with several other banks and choosing BMO as my mortgage servicer was the worst decision I have ever made. They continue to apply my payments incorrectly and even paid the wrong home owners insurance company out of Escrow. When in the process of finalizing my home purchase, the banker I was working with quit and all documents I had provided to him "disappeared". Instead of telling me this, BMO simply did nothing and said it was my fault for not supplying the documents.
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Product: BMO Harris Bank Mortgages
Comment
1
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librumeg @librumeg
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BMO Harris has the most unresponsive, uncommunicative loan officers of all time! I am a real estate agent. When a client comes to me with a BMO Harris preapproval and they tell me they want to stick with them, I cringe! I also ask them if they don't care about when the deal will close. I have never had a loan officer with any other company not answer or return my calls like this place! They inconvenience everyone involved in the transaction by having to delay things because of ineptitude. On my current deal with them, they didn't even get an appraiser out to the property until six days before the contracted closing date. Guess what won't be happening on time again! BMO Harris for mortgages is the WORST in the business!!!
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Product: BMO Harris Bank Mortgages
Comment
0
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Dave D @dkdemers
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I've obtained six mortgages in my lifetime. The problems I experienced in all of them combined were less than my most recent refinance experience with BMO Harris Bank. For starters, the bank failed to subjugate a lien from a previous smaller loan in my ex-wife's name, even though I had made that issue clear from the get-go. The title company made an error on Quit Claim Deed that I discovered during closing. I had cautioned the bank about that possible error (the previous title company had the property in a joint tenancy when it should have been a tenancy in common. The service from BMO mortgage representatives in Illinois was lousy. The loan agents and processors don't answer your emails (perhaps because that would make them accountable on paper). The bank eventually responded to the subjugation by increasing the loan amount so the loan could be paid off, something I begrudgingly paid (it was her loan) to get my ex off the deed. I asked them to mail a check. It has been nine days since closing and I still don't have a check. I am closing all my accounts with the bank.
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Product: BMO Harris Bank Mortgages
Comment
0
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Dave D @dkdemers
This is dkdemers again. Here's a follow-up. I didn't get the refinance mortgage check until two weeks after closing because the title company mailed it to the wrong address (Drive instead of Avenue). Crazy.
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