“CMI and it's employees are a big FRAUD. DO NOT I repeat DO NOT EVER TALE MORTGAGE WITH CMI. I am going to file lawsuit against them. We have the worst experience of our lives with their employees, Sonia Kumar, Lisa Richer and Rafina Jahurali. They are rude and not professional. They gave me time, and then before the expires they sent the lawyer letter. Again, NEVER EVER TAKE MORTGAGE FROM CMI. I had to select one star to write my review otherwise CMI do not even deserve any star.”
We're sorry to hear about your negative experience with CMI. As you have posted your feedback anonymously it's not possible for us to investigate and resolve your complaint. We'd be happy to discuss and see how we can improve your experience. Please contact CMI via email or phone so that we can address the situation with you directly.
“We decided to go with this company from our broker as they had stated this is a reputable company . We had everything signed and finalized and we're about to close and when talking to our lawyer they stated couldn't close because CMI needs to obtain title insurance. Is that not something you would know about in the first place? Let it go. Was promised funds would be available on Friday May 3 . Waited all day Friday for my lawyer to cal with updates. Finally she called at 4pm stating she had heard from CMI lawyer and stated that they don't have the funds. How can a mortgage company not have funds . Now I have the businesses they were going to pay off through this new mortgage hounding me as to why they weren't paid yet. It has been nothing but a headache from day 1 with this company and because we've already signed legal documents and thought this was going to be finalized yesterday it's just a waiting game . No one has a answer when you call or all I get is well look into it. Needless to say I am very upset”
Although we cannot be sure as your review is posted anonymously, CMI believes this issues has also been submitted to the Better Business Bureau. As such, we are re-sharing our response below. If you would like to provide your name and client file number privately we are happy to discuss your concerns.
CMI’s standard funding timeline is six business days from fulfilling all required documentation, meaning that funds are expected to be disbursed within five business days after a borrower and broker fulfill all required conditions as per their signed Mortgage Commitment. An additional day is added for processing and finalizing the transaction.
As a private lender, CMI sources mortgage funds through its network of investor partners. The funding timeline includes the time required to properly finance the deal through said network. This timeline is thoroughly communicated to the submitting broker on each mortgage deal, as well as the borrower's legal counsel. CMI’s originations team updates both the mortgage broker and legal counsel throughout the process. Since CMI doesn't transact directly with consumers, the borrower's mortgage broker and legal counsel keep the borrower up to date on all details, including timelines, throughout the application and funding process.
This particular mortgage’s conditions were fulfilled April 26th, indicating a funding date of May 6th based on our funding timeline. While the conditions may have been fulfilled, we still required our established timeline to process the funding. This timeline was communicated to the borrower’s broker and lawyer, with a closing date of May 6th confirmed via email. The mortgage was funded on May 6th, 2024.
Upon receiving notice of this complaint, we attempted to contact the borrower but were unsuccessful via phone. We encourage her to reach out to us if there are any outstanding concerns or questions we can address.
“Exceptional experience with Jason Keller of CMI as BDM. The best solution offered to my clients based on the clients situation, rate and fee was great and the broker relationship and communication with the BDM, underwriter and Fulfilment was always on time matters. Great services.”
“Exceptional Experience with CMI!! It was truly a pleasure collaborating with Jason Keller, who was always readily available and responsive. He consistently prioritized the clients' best interests to ensure the success of the transaction. All in all, working with Jason Keller was an outstanding experience!”
“CMI is the best platform in my opinion for buying crypto with fiat and selling crypto for fiat, CMI Professional scammers incessantly push for more investments, they will take your money and will make you believe that your investment creates profit, thanks to Authstag on Google for helping me recover my money back”
“I recently worked with Jason Keller and CMI on a file for a client, the overall client experience was great...I was informed throughout the whole process and received a competitive rate for my clients!”
“Jason Keller is a great BDM. Jason is very prompt, efficient & always ready to help. Had been working with Jason for past few years. Jason makes even tough deals work. Look forward to working with you Jason in the future as well for long time productive business relationship.”
“Jessica is an underwriter that saved my deal and I can honestly say that she is the most helpful and accessible underwriter I’ve ever dealt with. Jessica is outstanding !
Jessica took the time to restructure my file when my clients had to address last minute expenses. I also had a great experience communicating with Calvin in funding. He was sensational. CMI really delivers.”
“Hi I would to commend Harj, Zack, Alyssa, Harpal and Jackie for their excellent work that they do. They all should be acknowledged for their commendable work that they accomplish.
Thank you,
Paul Rai
Principal Broker
Westgate Mortgages Inc.”
“I am currently a certified Senior Mortgage Broker and I have been in this Financial Industry for more than 35 years plus, just recently I came in contact with CMI and I have already funded more deals than I ever funded - customer service has been excellent personally from the BDM and the fulfillment staff - delivery has been excellent and most of all funding and completion has been wonderful - I am so happy that I actually met with this company and an awesome BDM - thank you ....”
“OI applied for a mortgage, provided all documents and left a deposit of $500. During the process I had an accident and was in the hospital for several days and out of touch with the world. My broker assumed I was no longer interested since he couldn't reach me and cancelled the process. They cancelled my file so therefore I lost my $500 deposit which I can really use right now. I wonder if they arbitrarily just cancel deals and collet deposits ?”
Hello Michael,
Thank you for sharing your feedback and allowing us the opportunity to clarify.
Mortgage origination involves careful coordination by several parties, including lawyers and appraisers, and there are costs incurred in this process. For this reason, CMI collects a deposit on all mortgage files to ensure that these costs are recaptured in the event a deal is cancelled.
Because CMI lends exclusively through mortgage brokers, who act on behalf of borrowers, we took your mortgage broker’s instructions to cancel your mortgage. This cancellation resulted in your deposit being forfeited.
We understand this is disappointing; however, all mortgage terms, including fees and deposits, are clearly detailed in the Mortgage Commitment you signed with your broker and legal counsel.
We hope this helps to clarify. Please feel free to contact us if you have questions or would like to discuss further.
“This is written because of the outstanding service received from both Robby Parmar & Umang Mehta. I have said this to you both “time and again” the reason we send business to your company, is because of you!
You continually support us with your friendly, professional service to resolve any issues presented to you.
Your knowledge of products and your willingness to assist is well appreciated by me and all my brokers.
Thank you keep up the good work.”
