Mountain America Credit Union

Our "Approved" Mortgage Refinance Was Denied After Mountain America Credit Union Officially Approved It In Writing Three Times.
- bradadkins274 - Wednesday, July 25, 2012 - 11:29 PM

Horrible!!!!  Don't bother trying to get any mortgage loan at Mountain America Credit Union!!  You won't qualify!!

I am a member here (not for long), so I thought I'd have them refinance my house.

My wife and I earn plenty of money, have no kids to pay for, and have no other debt except small student loans. We don't carry any credit card balances, we don't have car payments, and we both have excellent credit scores (near 750).

As for the house, we have owned it for nine years and we have plenty of equity in the house; we owe much less than the house is worth (75% loan to value).

Since the new Harp law went into effect this year, allowing people to refinance even if they owe more than the house is worth, and with interest rates so low, I figured now would be a great time to refinance our house.

It took SEVEN MONTHS of emails, paperwork, and many delays and mistakes on their end (entering our information wrong, telling us one thing on the phone and something completely different in an email, signing us up for the wrong program, asking for paperwork we already gave them, taking many days off and long vacations, saying we were approved and then asking for more paperwork, saying we were approved again and then pulling our credit again and asking for even more paperwork). Apparently, when Mountain America says you're approved, it doesn't actually mean that your loan is approved.
Finally, after they approved us for the third time (!?!), we got the final paperwork and they asked us if we could sign them that day (with two hours notice). Turns out, this is because they were about to have to pay to extend the rate lock, AGAIN. But since we were exhausted by their process and ready to just be done with it already, we moved appointments and meetings and agreed. We arrived at the title company and signed the loan.
You'd think it was a done deal at this point, right? WRONG!
Mountain America denied the loan ... AFTER we signed!

I would NEVER NEVER NEVER recommend Mountain America Credit Union!!!

Great Service
- fordd22 - Monday, June 6, 2011 - 9:28 AM

I have been with Mountain America Credit Union for 10 years now all because of the excellent customer service they gave me about 6 years ago. I had had my car broken into and they took everything my Viza cards, my checkbook and all the cash I had. I immediately called my bank and shut off my cards but it was too late they had already used my checks and cards and spent over $500. I was devastated. This all happened on a Friday after closing time, so on Monday I went into my bank to tell them what happened. They immediately changed my bank account number helped me total up all that had been spend and instantly gave it all back to me no questions asked. And as for the rest of the checks they put a stop to all the rest of them and notified me when one tried to come through. Thanks so much Mountain America Credit Union I have enjoyed being a member of your bank and will continue to.

Mortgage Service
- Farmhand20 - Monday, March 11, 2013 - 8:06 PM

I gave them 1 star because 0 was not an option.  If anyone is even considering getting a mortgage through mountain america please stay completely away.  I would not wish the headache they have caused us on anyone.  You can not believe anything they say.  First when we went to close on our loan, they had made a mistake and one of the draw lines for our construction shouldn't have have been there.  We had used the money that we thought was available.  If I had known the money wasn't really available, I would have made changes to my house.  It was there mistake, but they did not care,  I had to pony up 19K that I did not have in order to close the loan.  Since I had no choice, I ended up going into my 401K.  It has been nothing but a nightmare since.  Everything from customer service to you name it is terrible.  Another thing if these people tell you something on the phone I suggest you get it in writing.  The bottom line is if anyone reading this review goes on with mountain america for a mortgage, then you deserve every bit of headache coming your way.

Great Services, But Terrible Customer Service And Do No Get A Mortgage Loan From Them.
- BryceFtz - Monday, April 15, 2013 - 12:31 PM

I know this is my first review on deposit accounts, but I am just wanting to let everyone know to stay away from Mt. America if you are doing a mortgage loan. We have been with Mt. America for years now. We have had two auto loans. A personal loan for school as well has many other accounts with them. During our home loan we have had the worst service and have been completely flat our disrespected when going through the process. After being told we would not have to pay anything and it was a 100% mortgage and that we would be able to close three weeks early. It is now a day after our official closing date and we have to come up with close to $3,500. This was never mentioned during the entire 2 month process to us until this day. So make sure you have plenty of savings to pay for hidden fees and last minute changes to your agreement. On Friday when supposed to be closing our mortgage person told us we would be able to close at 5pm and he would send the documents over to be signed. Around 5:30pm and not receiving any documents we called the branch to find out our mortgage guy just left and didn't handle anything at all on our last day to close. After multiple calls and a few messages to the Mortgage person. Nothing was completed and none of the calls or messages were answered. Very unprofessional! Lastly after messing up everything, surprise fees, extra payments, no notice, no follow up and missing our closing date. I had to contact them this morning in order to have anything started. Now we are waiting until 4pm today to close and will not fund and record until tomorrow. This may not be the worst story out there, but after being handled this way I would never want anyone to have to go through what we went through to buy a house. Look elsewhere

Review Opening Account
- Duck - Thursday, March 21, 2013 - 11:57 AM

Was pretty straight foward was 4 calls total as of 3/20 best easy rate going. Starterd online application called in with # of application. Was help with establishing rest of application given choice to electronically signing documents and disclosures called back given Account# went to share branch deposited money called back and was told 2day hold called again and asked to fund CD out of share NO problem hold one min came back DONE will send in mail thanked her and left

 

Note***

after establishing share account CD's can be openned through online banking with ACH

*Wish I knew ahead would of saved me the 2 day hold

Though not sure how fast Mountains ACH is?

10 day grace at end of term

 

POD go for all accounts or set indiv allowed more than one if needed  

 

All in All very helpful Customer Service answered every question I had