Reviews: Sovereign Bank Mortgage

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Sovereign Bank Mortgage Reviews

1.0 of 5 | 2 Reviews
Overall Rating
1.0
Rates & Fees
2.0
Customer Service
1.0
Knowledge & Expertise
  • About
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  • Sovereign Bank® believes price and service distinguish one lender from another. To that end, Sovereign Bank® has transformed themselves into a bank with leading edge technology and professional service to our borrowers.

    Related Provider Reviews: Sovereign Bank Debt Consolidation

    Headquarters: Philadelphia, PA
    Website: www.sovereignbank.com

  • Additional Information

    Sovereign Bank Loans serviced 118,000
    Sovereign Bank Top States na

Bills.com Rating

3

Sovereign Bank’s® lack of local offices makes it difficult to take advantage of their great pricing and rates. However they are receptive to borrowers communications and are able to remain competitive in pricing and rates.

Pros: Fast Approvals, Good Rates, Quality Products
Cons: Not Very Many Local Offices

Reviews & Ratings

Mortgage Rip Off at Sovereign

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Joseph B.
Kansas City, MO  |  October 20, 2011
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1.0

1.0
Rates & Fees
3.0
Customer Service
1.0
Knowledge & Expertise

Beware to all. I refinanced with Sovereign Bank with additional cash back to me. My appraisal that was completed was above the loan value, however, I was told I need to take out title insurance for one year and upon the end of that year, the extra 170.00 would be removed from my monthly payment. That was three years ago, and when I inquired on my account, I got one smart alec response stating I need to do this and this, which was not achievable and they knew it. I feel like it was a rip off and scam to get me to pay thousands extra, and they knew it from the start.

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John B.
Hempstead, NY  |  October 26, 2011
 
Rates & Fees
 
Customer Service
 
Knowledge & Expertise

sovereign bank is a phony teaser organization with no willingness to stand up to the ARM rate I was originally quoted . in less than 60 days my exemplary application was denied

Run away

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Jim G.
Philadelphia, PA  |  February 07, 2012
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1.0
Rates & Fees
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1.0
Knowledge & Expertise

If you don't want to lose your application fees and want to close on time take your business somewhere else! They promise you the world before you pay them the application fee and once they suck you in they change their rates and keep delaying the process for no reason.

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