CIVIC Financial Services
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Civic closes a lot of investor loans and they suck
Civic closes a lot of investor loans. That said, they suck. Too many hands touching every file and it NEVER closes on time. Lost emails/docs/delays is the standard. Don't expect a smooth process at all. If an LO sells you on something, don't expect it to work. The rug will get pulled out last minute and you will just have to accept whatever the outcome, rate changes, LTV changes, cash to close, etc. I've brokered loans to them and I've borrowed from them (5x in 2021-22). Find someone else, they oversell their loan product to flippers and investors and deliver less than you were promised. Mortgage biz sucks but Civic has a special way of making it suck deluxe. And your reply about a broker?? You suck. Throw the broker under the bus?? You have a dozen people touching the file all pointing fingers at each other. 8 weeks to close a purchase at hard money rates? This is a joke. INVESTORS, LOOK ELSEWHERE UPDATE 2.0 / January 2023. Second loan in 30 days. Eight weeks to produce a refi for rental. Same issues, too many cooks in the kitchen. Process is very sloppy, slow and covered in origination points and processing fees (to compensate the extra cooks in the kitchen) that do not speed up the process or produce any value. Go find a lower rate/lower points Civic used to be the go-to for investor loans, now they are high rate/high cost - fizzle not sizzle Do yourself a favor and swipe left on this one.