Third Federal Savings and Loans

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Savings and Loans Scheme
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NORTH MIAMI BEACH, FLORIDA -- This company is in business to take your hard earn money. They charge you a fee for a application of a home loan. They charged me a fee of 325 dollars non-refundable. I thought OK I have close to an 800 credit score, a low DTI ratio, plenty of equity even in this down market. There is no way I can get denied (Wrong). I locked in a low rate with them, one that they wear never planning on giving me. I provided them all the documents they requested and they found a reason after another to deny me.

Once they had no other reason to give me. Veronica at the North Miami Beach Branch said "Why are you providing me documents when you where denied" I was in shock as I still had 14 days before my lock in expired. There scheme is to deny and retain your application fee.

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GenuineNerd on 06/24/2008:
Maybe Third Federal operates differently in Miami Beach than in Slavic Village. Third Federal has always had an excellent reputation when it comes to home loans...they pretty much escaped the foreclosure crisis unscathed...and they're ironically headquartered in a Cleveland, OH neighborhood where foreclosures are among the worst in the US. They never did subprime loans. Being denied for a home loan is part of Third Federal's high standards for lending. Sorry it had to happen to you.
cherpep on 06/25/2008:
The current financial crisis has made it more difficult to get approved for mortgages. I have a few young friends who previously would have been easily approved, but are now having difficulties. I wish you luck.
Sparticus on 06/25/2008:
We recently bought a new home and used GMAC Mortgage. They were very friendly and easy to work with. Definitely recommend checking them out.
Anonymous on 06/25/2008:
Cherpep is almost correct, it *is* more difficult to get financing if you are a marginal borrower. For everyone else, it's a heyday. Banks are under intense pressure because of rates, and the demand for loans is way down. They are hungry for qualified borrowers, and are going to great lengths to try to find them.
It seems that there must be much more to this story.
looking4justice on 08/13/2009:
Third federal saving and loan been have cheat in my mortgage a loan account for more 7 years. They charge high fees .I don t lie I have documents a where I can prove .they like to make false acuse false credit report
They are ripoff they help some people a take from others
stelco1 on 07/06/2010:
After telling friends how good third federal is I will never use them again. I applied for a refinance. This would be my third mortgage with third federal. One reason for denial, not enough credit history, huh. I paid off an extra 20,000 off mortgage this years and was going to pay an extra 14,000 at closing. My partner and I have a $160,000 per yr income, mortgage was going to be for 100,000 again huh. Partner's credit score 798, mine 713. Third federal insists my credit score is 673, excuse me my credit report is right in front of me from all three reporting agencies. My credit report showed a collection for $75.00 from a hospital,that was active from 2006. I have contacted the hospital who admit it was a mistake and will cancel the collection. Does Third Federal want to be reasonable No way they said 673 is your score and if you want us to look at the real score you will have to fill out another application, again, huh. When I spoke to customer service they could not have cared less. Why don't they just be honest, I feel they just don't want to finance in Broward County and just look for a reason. let me see, we make 160,000 a year, have now debt other than mortgage, which is only two thirds of what we make in one year. Oh well back to Bank of America
Mick on 04/01/2012:
I have POA of Finance for my Father and he has an Savings account with Third Federal He just retired and took a sum of money to be put in his Savings account. I brought up the document to show them and they said they couldn't accept this? huh I'm trying to get dads bills in order and just wanted to know how much money was in the account. so The lady ran a back ground check on me and wham they said I can't accept this document because your name is on check systems? WTF? I'm like lady my fathers in the hospital and what does my credit have to do with anything? I have the document right here she said I'm sorry So I resolved the payment with check systems and wrote a letter to the manager there describing who I contacted and provided phone numbers for her to call to clear me. she called me back and said that she can't do anything because my name is on check systems I'm totally disqusted with this bank
Pam on 08/24/2013:
I have been waiting for a welcome package for over two weeks. I had to request it three different times. I applied online to open a CD account, but I will not fund it until I receive a welcome package.
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