Banc of California

Commercial Bank

Banc of California was working on our mortgage. We had two different closing times that they backed ...out on and asked for more paperwork. Once they knew the seller was about to walk they went completely MIA and responded to no one. After our broker finally got a hold of them, they said they were getting out of the mortgage business and basically kept asking for more and more paperwork in hopes WE would back out. They worked on our loan for over 45 days and acted like everything was fine. They should of done the ethical thing by telling us that they could not do the loan weeks ago so that we had time to figure out something else. Messing with peoples lives by not being honest is not a way to do business. See More

Banc of California’s inability to perform basic business practice in an appropriate amount of time ...has led to get financial harm to me and my family. During the close of escrow they stopped answering calls and emails, three days before the close of escrow. I don’t hear from them until the day of close escrow. That is to tell me they forgot to do it and they needed to resend the paperwork. For nine days until they managed to finally close escrow. I incurred cost for temporary lodging for my family and belongings. The day of close of escrow the credit cards on the waivers I had to resend them were sold and several charges all over the united states tried to go through.
The loan was a construction 203k, with a three month build time. Multiple emails from 2016 to 2018 between us, state my concerns on how we needed to move stuff forward at a more appropriate pace.
There is a total of thirteen months of delays due to Banc of California’s delays, on a three month build. From the beginning they never felt like their inability to answer emails or calls for months was an issue. The first request for changes and the first payout out was not addressed for Four months. More than the build time itself and seven months are the original completion date. Due to this delay my contractor moves onto other obligation and does not want to work with the bank if it take longer to get the bank to answer you, then the entire build time. In this delay we would have completed the build. Then the further delays of finding a new contractor and there further weeks and months of delay answering emails. They answer my emails by saying they believe they get back to me in acceptable amount of time and they take no responsibility for the issues those delays cause. They continually telling me they don’t received emails that they answer, they have received but then never addressed and saying they misplaced my financial information is disturbing. It speaks to the company's culture and business practices, and regular operating procedures. Which is addressed in a lawsuit filed by one of the employees I dealt with, Heather Enderson.
There business practices are not ethical and they do not live up there fiduciary duties, causing great financial harm. They tried to force me into foreclosure after the second contractor walked off the job. They told me to refinance and stopped all contact with me. They are a bank, they know as well I do is there was no way to refinance a property that will not cover the loan, has no bathrooms, kitchens, flooring, working electrical and plumbing. I had to get an attorney to make them answer me and make them move forward
There are lot more issues addressed See More