GS Loans - poor response
UPDATE: We got the check a few days prior to our trip to purchase the coach. I had communicated a "must have" date to the people at the finance company and as we got closer to this date activity picked up and responses were quicker. In the end, everything happened on time, but I think I had to go through some un-necessary anxiety due to lack of communication at the start. If I were to guess, they are overloaded and understaffed and get to people when they have time.
The most clunky thing about the whole process was having to receive and send next day FedEx paperwork. At least they send it for AM delivery and provide you an envelope to send it back - but I've closed many loans in the recent past with electronic methods and I was surprised to see this.
I'd say I'm overall neutral on recommending GS Loans. If you're doing a refi and not in a hurry, why not. If you are on a time crunch, I would look at other recommendations like lightstream loans or SE financial. They may be more responsive.
I'll also say that it looks like Bank of the West (where your loan eventually goes) now does electronic payments, which was different from some forum info I had found about them.
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Not sure if this is the right place for this, but here goes.
I have worked with many financial institutions for loans over the years but by far GS Loans / Essex or whomever they really are has been the worst as far as responding to questions.
I am trying to finance a MH - started the process 10 days ago, and need everything to be ready by the end of the month where I am planning a multi-day trip to go pick up the MH with the family. So far I've only gotten sporadic response from my contact at GS Loans. The MH is for sale by a private party. I've asked some simple questions with no answer so far:
- How is payment to the seller handled? Wire or check? I want to be able to inspect myself before physically handing over payment. (I have not seen it in person yet). Also I am putting a significant amount down myself and need to know if I show up with a separate check, etc...
- What is involved in the inspection that they require? (and I haven't been able to get a response of when the inspection will be). The seller would like to know when to make the coach available and for how long.
- How will the title be handled, since they will have a lien but I need to bring it home to pay property tax and get a tag?
I'm sure there's more but those are the major ones. I just don't get a good feeling about this whole thing and am inclined to pull the plug and shop elsewhere. Actually, after searching this forum for "Essex Credit" I've seen cases which make me think applying to GS Loans was a mistake in the first place.
The most clunky thing about the whole process was having to receive and send next day FedEx paperwork. At least they send it for AM delivery and provide you an envelope to send it back - but I've closed many loans in the recent past with electronic methods and I was surprised to see this.
I'd say I'm overall neutral on recommending GS Loans. If you're doing a refi and not in a hurry, why not. If you are on a time crunch, I would look at other recommendations like lightstream loans or SE financial. They may be more responsive.
I'll also say that it looks like Bank of the West (where your loan eventually goes) now does electronic payments, which was different from some forum info I had found about them.
- - - -
Not sure if this is the right place for this, but here goes.
I have worked with many financial institutions for loans over the years but by far GS Loans / Essex or whomever they really are has been the worst as far as responding to questions.
I am trying to finance a MH - started the process 10 days ago, and need everything to be ready by the end of the month where I am planning a multi-day trip to go pick up the MH with the family. So far I've only gotten sporadic response from my contact at GS Loans. The MH is for sale by a private party. I've asked some simple questions with no answer so far:
- How is payment to the seller handled? Wire or check? I want to be able to inspect myself before physically handing over payment. (I have not seen it in person yet). Also I am putting a significant amount down myself and need to know if I show up with a separate check, etc...
- What is involved in the inspection that they require? (and I haven't been able to get a response of when the inspection will be). The seller would like to know when to make the coach available and for how long.
- How will the title be handled, since they will have a lien but I need to bring it home to pay property tax and get a tag?
I'm sure there's more but those are the major ones. I just don't get a good feeling about this whole thing and am inclined to pull the plug and shop elsewhere. Actually, after searching this forum for "Essex Credit" I've seen cases which make me think applying to GS Loans was a mistake in the first place.
