Downey Savings and Loan Review
Author: Rob K. Blake | Date: September 15, 2008 | Filed In: Mortgage Company
Downey Savings and Loan, a subsidiary thrift, retail mortgage seller, and wholesale mortgage lender of Downey Financial Corp., has assets of $13.4 billion, and 169 branches throughout California and Arizona. We located a website, six telephone numbers, and a slew of complaints and lawsuits.
Downey Savings and Loan Website and Phone Contacts
Downey Savings and Loan Website: http://www.downeysavings.com
Downey Savings and Loan Phone:
(800) 725-4480
(949) 509-4408
(800) 833-3870
(800) 598-6322
(800) 883-3885
(949) 854-3100
Fax: (949) 725-0618
Address: 3501 Jamboree Road, Newport Beach, CA 92660
Downey Savings and Loan Review
I my opinion any retail mortgage seller with this many consumer complaints and has pushed the Worst Loan in America, the Option ARM, for so long is a company to shun when shopping for a mortgage.
From the standpoint of a bank customer who’s looking for a depositor bank, even though they have been hit hard by the mortgage crisis, and have been under regulatory scrutiny, as long as you don’t put more than $100,000 FDIC limit, you could be fine or they could follow IndyMac, another California thrift that got to aggressive with their mortgage products.
It appears when I search for complaints against Downey Savings and Loan, there are many. Click the link to see all the Downey Savings complaints listed in Google.
BBB Activity on Downey Savings and Loan
” Our complaint history for this company shows that the company responded to and gave proper consideration to most complaints. However, some complaints are unresolved meaning the company failed to properly address the complaint allegations or their response was inadequate.”
See Comments Below to Add/Read Customer Opinions On Downey Savings and Loan
We would really like to hear your experience with Downey Savings and Loan as a mortgage retailer, mortgage servicer, or wholesale mortgage lender, so add your comments in the section below.
Thanks!
Author: Rob K. Blake
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Downey Savings has the worst Customer Service in the universe. The employees are told the follow one simple rule, just say NO. I’ve been a long time customer, got into some trouble when my clients started paying me late. Tried to work w/DS, they impounded my taxes, won’t work out a new loan, and now monthly I’m paying astronomical fees. They send me the usual forms to fill out for a new loan but I am self employed and would not qualify under the usual process. They will not do anything for me. Every month they suck the life out of me to make that payment and start making harrassing phone calls around the 15th. I stopped answering the phone, there is no point in talking to a drone. I really hate Downey Savings and their lousy customer service at every level in every department.