Stay away from Supreme Lending - unethical behavior
I am an insurance agent and I often help people with their home insurance and I send it over to the lender(s) at Supreme Lending. The clients agree to my policy, they love the coverage, it's tied to an auto policy that is giving them an additional discount. Then, Supreme Lending (I have caught two lenders doing this) will send the clients private information over to their insurance broker - with no consent from the buyer. Then, they will write them a crappy policy, usually bad coverage and high deductibles. Their broker actually BINDS the policy without ever speaking to the client, and sends it to the lender. Then, even though I have sent all insurance docs to the lender, they FILP the insurance at closing, so the WRONG policy is paid at closing. I know this because on 4 different occasions, I have called clients after closing and said, hey there, I notice the policy didn't get paid yet, did you close on the date we said? They say yes. Then I follow up with title and title apologizes and says there was a completely different policy sent to closing and it was paid. I call the clients, tell them, hey, if you found a cheaper policy, no worries at all, but just trying to find out why this didn't get paid. EVERY TIME, the clients are FURIOUS, they gave no consent for the terrible insurance policy. In the end, my policy gets cancelled for non-payment and their rates on auto insurance also go up because they no longer have the bundle. I have confirmed with multiple clients that they NEVER even talked to the other insurance agent or consented any other insurance was bound for them. I don't know if Supreme Lending is doing this because they get kick backs (when the insurance agent pays them money for every policy they bind) or if there are DTI (Debt to Income) issue where they can't make them qualify, so they put in place cheap/terrible insurance to get their DTI down. Even the DTI doesn't make sense, because the most recent case I have of this happening, the other insurance policy was actually $2,000 more expensive so it doesn't even make sense - luckily the buyers and the realtor caught this when they received DocuSign from a company they never heard or or spoke to. Watch out for Supreme Lending. If they are willing to do slimy, unethical things regarding something as simple as insurance, no telling what else they would do and I would not trust them with my home loan.
26 luglio 2022
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