According to customer reviews on various platforms, such as Zillow, Trustpilot, and Consumer Affairs, Caliber Home Loans has a mixed reputation for its customer service. Some customers praise Caliber for its responsiveness, professionalism, and efficiency, while others complain about its lack of communication, delays, errors, and fees. Caliber’s overall rating on Zillow is 4.9 out of 5 stars, based on over 13,000 reviews. Caliber’s overall rating on Trustpilot is 3.9 out of 5 stars, based on over 2,000 reviews. Caliber’s overall rating on Consumer Affairs is 2.8 out of 5 stars, based on over 500 reviews.
How is the reputation of Caliber Home Loans?
Another factor to consider when choosing a mortgage lender is its reputation in the industry and among its peers. Caliber Home Loans has a strong reputation for being one of the largest and fastest-growing mortgage lenders in the U.S., with over $100 billion in loan originations in 2020. Caliber also has a strong reputation for serving military borrowers, first-time home buyers, and low-income borrowers, with various loan programs and initiatives.
Caliber has received several awards and recognitions, such as:
- Ranked #2 among the top 100 mortgage companies in America by Mortgage Executive Magazine in 2020.
- Ranked #3 among the top retail mortgage lenders in the U.S. by Inside Mortgage Finance in 2020.
- Ranked #6 among the top VA lenders in the U.S. by Inside Mortgage Finance in 2020.
- Named a top workplace by the Dallas Morning News in 2020.
- Named a top mortgage employer by National Mortgage Professional Magazine in 2020.
- Named a military friendly employer by VIQTORY in 2020.
However, Caliber Home Loans also has some negative aspects in its reputation, such as:
- Facing a lawsuit from the U.S. Department of Justice for allegedly violating the False Claims Act by knowingly originating and underwriting loans that did not meet FHA standards.
- Facing a lawsuit from the Consumer Financial Protection Bureau for allegedly failing to provide borrowers with accurate information about their options for avoiding foreclosure.
- Facing a lawsuit from the New York Attorney General for allegedly violating the state’s fair lending laws by discriminating against minority borrowers.
How does Caliber Home Loans compare to other mortgage lenders?
Caliber Home Loans is not the only mortgage lender in the market, and borrowers may want to compare it to other lenders to find the best deal and service for their needs.
