Review: Atlantic & Pacific Escrow

Review: Atlantic & Pacific Escrow

Posted in the Santa Ana Forum

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agent

Danville, CA

#1 Jun 2, 2010
I WILL NEVER WORK WITH THIS ESCROW CO AGAIN...THEY HAVE E.O WORKING FOR THEM WHO HAVE NO CLUE..
Matt

San Francisco, CA

#2 Jun 10, 2010
Sloppy and incompetent. Incorrectly filed our Deed as joint tenants after repeatedly promising that it was corrected to a TIC.

Now will not respond to repeated requests that it be corrected, just ignoring requests.

Stay away from this company!!
old employee

Jacksonville, FL

#3 Jun 25, 2010
This escrow company steals from their customers, they cut checks to pay the seller first and makes everyone else wait. The Seller Atlantic Pacific gets paid first the buying agent gets crap if they are missing something and they hold their check hostage. The buy dont see a check until the seller gets thier's first. They even cut checks to the seller before the funds have cleared in title....I dont think they are allowed to do that. these people are crocks! DO NOT USE THEM THEY WILL RIP YOU OFF!
Rosa

Lakeside, CA

#4 Jul 1, 2010
Worst escrow company ever. They made me delay my closing by days and I was stuck having to pay for storage and a moving van twice. They also were so delayed in filing my paperwork that I lost my 5% percentage rate on my loan and had to get locked into a new, higher % rate.
Andy Anderson

Santa Ana, CA

#5 Jul 28, 2010
I had a smooth, perfect transaction. This company has professional staff that know what they're doing. Even though this is a fairly new company it still takes care of its customers, i wish more companies were like this.
broker

Kailua Kona, HI

#6 Aug 4, 2010
Bad service, won't return phone calls. EO says managment holds 2 meetings a day and that's the reason they can't get escrows done.
Agent_Hesperia

Apple Valley, CA

#7 Oct 27, 2010
WORST Escrow company ever to work with. The Selling Agent was just as bad! Waiting almost 2 weeks for commission disbursement and closing package. RUDE, unprofessional people......Do not answer emails, return phone messages or phone calls. They were rude to my clients as well. DISLIKE will avoid Atlantic Pacific in the future.:(
House_hunting

Oakland, CA

#8 Oct 27, 2010
I was the buyer of a house listed by Carrington Mortgage Services (CMS), which I believe is the parent company of Atlantic and Pacific. CMS insisted that we use A&P as the escrow and title company and then they would split the fees with us (buyer). If we wanted to pick a neutral 3rd party, for example, Chicago Title, then we would have to pay ALL of the fees and costs associated with closing, title insurance, and maybe even the back taxes (the house was foreclosed, I checked with county it was a few k's of taxes we're talking about here). CMS dragged their feet with sending to me the final contract, and ultimately I cancelled the buy before they managed to get their paper work together. Another red flag when dealing with CMS and Atlantic and Pacific is that CMS insisted on a $100/day penalty if we cannot close on time. This is a totally rigged system. The seller and escrow title company are in bed together, there's no incentive for either to work diligently to make sure that the agreed upon closing date is met, and the buyer ends up in the hole and having to shell out a hundred bucks a day. This company sounds like trouble.
patricia

Poway, CA

#9 Nov 25, 2010
House_hunting wrote:
I was the buyer of a house listed by Carrington Mortgage Services (CMS), which I believe is the parent company of Atlantic and Pacific. CMS insisted that we use A&P as the escrow and title company and then they would split the fees with us (buyer). If we wanted to pick a neutral 3rd party, for example, Chicago Title, then we would have to pay ALL of the fees and costs associated with closing, title insurance, and maybe even the back taxes (the house was foreclosed, I checked with county it was a few k's of taxes we're talking about here). CMS dragged their feet with sending to me the final contract, and ultimately I cancelled the buy before they managed to get their paper work together. Another red flag when dealing with CMS and Atlantic and Pacific is that CMS insisted on a $100/day penalty if we cannot close on time. This is a totally rigged system. The seller and escrow title company are in bed together, there's no incentive for either to work diligently to make sure that the agreed upon closing date is met, and the buyer ends up in the hole and having to shell out a hundred bucks a day. This company sounds like trouble.
I am currently in the same situation with this company. The fees ARE NOT being split 50/50. I am so pissed off. they are liars and don't return calls.
agent san jose

New York, NY

#10 Dec 20, 2010
These are the worse escrow i ever encountered! Make sure that you get your broker demand signed and submitted! On several occasions prior to closing...escrow wanted to ratify broker commission and reduce buyers commission.

I put an offer in...it took them a month just to respond.....then they cannot locate the earnest deposit...had to resubmit a new one....

Their process is so primitive! They have too many people handling your package...and by the time it gets to the last coordinator escrow...they dont know whats goin on but rather screw things up.

From the listing agent, to broker, to owner....theres so many people that will be involve on your transaction....Im not even sure whos in charge! BEWARE!!!!!
Oldemployee

Laguna Niguel, CA

#11 Dec 22, 2010
I worked for this company for a short period of time. I highly recommend not using them. The Management are very poor with the way they manage and do business. The EO's are all disorganized they leave people on hold for long periods of time. They rufuse to take calls and are extremely rude.They are so behind on work they stay overtime and still can't get caught up. I have never seen a place that is so unprofessional. They do have many people handling your packet with private information and they Don't care to check voicemails or return calls. DO NOT USE THIS COMPANY
unknown - former employee

Long Beach, CA

#12 Jan 7, 2011
Managers and VIPs run the company who have no clue what escrow is and have no experience. Escrow officers have no control over funds they disburse, management makes sure they cut their own fee checks sometimes even premature before escrow closes but escrow officers cannot access checks, management has complete control and WILL hold every single real estate agents check until inside listing office approves check to go out. This means that the TC for the Listing Agent has control over Selling Agents check. They will not release it unless they have every disclosure signed, even though usually Selling Agents send the discloures many times but TCs are too busy to notice they ever got it, the check will still get held for a week or two. The company has too many highly paid managers and not enough workers to actually get things done. The managers are constantly in meetings strategizing how to make more money when none of them have ever even worked in escrow before. The actual staff has to try and get by withought any help or support from management and has to take all the complaint calls from Buyers and Agents not getting paid even though it was against our will. VIP running the show wanted to close files on a GAP incomplete or not just as long as he is getting revenue he doesn't care of any ramifications. This company will probably be getting shut down by DOC so what will happen to your money tied up in escrow then?? Buyers Agents BEWARE! Hopefully DOC will do their first audit soon for this newly established company and will SHUT THEM DOWN!!!
just close escrow

Ojai, CA

#13 Jan 26, 2011
This is the worst escrow company! Not only they don't return your call, they also give you attitude when you finally get in touch with the escrow officers, especially Julie Bennett.

My original escrow officer left and I wasn't being notified. For a while, I got tossed back and forth between two escrow officers. They are not prompt at work. If you do use them as your escrow company, make sure to follow up everyday.
unknown - former employee

Sewickley, PA

#14 Jan 28, 2011
To anyone who has had a bad experience with this company I would recommend filing a complaint with the Department of Corporations, just like I did, eventually it will catch up with them. A company should not be in business if they are not going to provide quality service to their customers. An escrow company is supposed to be an unbiased/neutral third party but this company clearly is not, they only want to pay themselves. Cash Buyers also beware, escrow officers will push you to close early even if you haven't performed inspections, etc becuase they want to get paid their commission, they will even give false threats that the Seller will cancel on you. Read your contract, they will charge you twice as much as they are charging the Seller and will make Buyer paid for fees that are custumarily Seller fees, if enough Buyers read their contract there can be a class action law suit for Buyers to be refunded on every single file arbitrily being charged Seller fees, such as payoff fees, messenger fees, sub escrow fees, etc..
worst ever

Long Beach, CA

#15 Feb 10, 2011
do NOT do business with them. they didn't order the HOA docs until the day before we were supposed to close and then tried to blame my agent. the selling agent and broker who list the home should know which HOA the property is tied to. they lose documents at least three times before receiving them. then, the assistants to the escrow agents do not have access to the documents or email. worst experience ever
Julia G

United States

#16 Feb 28, 2011
worst ever wrote:
do NOT do business with them. they didn't order the HOA docs until the day before we were supposed to close and then tried to blame my agent. the selling agent and broker who list the home should know which HOA the property is tied to. they lose documents at least three times before receiving them. then, the assistants to the escrow agents do not have access to the documents or email. worst experience ever
]

I recently had an agreement approved and had a bad feeling about using this escrow company when after 6 days escrow still not been opened due to understaffing. My concerns are that they will wait until the last day to order HOA docs, which can take 10 days and then the seller starts charging me $100. If they don't have anyone to open escrow who will manage it? Also, 5k deposit they want certified funds and they called this deal "cash" and there is a small loan. Sounds fishy!
agent sacramento ca

Elk Grove, CA

#17 Apr 30, 2011
I had very bad exprience with this EO. They did not pay all the fee...Please tell me where to report and close this escrow office before they rip you guy off...PLEASE DO NOT USE THIS ESCROW OFFICER AND BE-WARE..
REO EXPERT

Chatsworth, CA

#18 May 1, 2011
None of you have any idea of what you are saying. As an REO Expert I can tell you that you WERE NOT charged the 100.00 per diem if the reason you did not close your escrow was due to the delays of the escrow company. With the REO's it takes approximately 1 to 1 1/2 weeks to get your information into the upload. Over 150 escrows are opened each day and are put in a line for opening. You may use any companies you choose, however, because of the volume and problems associated with the REO's there are incentives to stay within the companies set for REO, which they are professionals in handling. Too bad your agents did not explain things a little bit better you wouldn't be feeling the way you do. Everybody wants theirs right then, right now. In a high volume real estate deal things take time. The buyers are not punished for that. You did not pay 100.00 per diem for any delay unless your lender delayed it or you delayed the closing. Carrington is one of the best I have ever seen. This type of market is all new to alot of you agents and buyers out there so you really have no idea. My advise- hire a real estate agent that is an expert in the field. So you will be advised and have the knowledge that the escrows and closings take time and buyers should just concentrate on their loans with their lenders, however, gettin a lender or loan agent who is an expert in the REO field is a plus, they too can help you and keep you informed. So whoever says they paid 100.00 per day because the escrow did not close on time is not honest. It dosen't happen. GET AN REO EXPERT FOR YOUR REAL ESTATE AGENT AND YOUR LENDER and just know it does take time.
House_hunting wrote:
I was the buyer of a house listed by Carrington Mortgage Services (CMS), which I believe is the parent company of Atlantic and Pacific. CMS insisted that we use A&P as the escrow and title company and then they would split the fees with us (buyer). If we wanted to pick a neutral 3rd party, for example, Chicago Title, then we would have to pay ALL of the fees and costs associated with closing, title insurance, and maybe even the back taxes (the house was foreclosed, I checked with county it was a few k's of taxes we're talking about here). CMS dragged their feet with sending to me the final contract, and ultimately I cancelled the buy before they managed to get their paper work together. Another red flag when dealing with CMS and Atlantic and Pacific is that CMS insisted on a $100/day penalty if we cannot close on time. This is a totally rigged system. The seller and escrow title company are in bed together, there's no incentive for either to work diligently to make sure that the agreed upon closing date is met, and the buyer ends up in the hole and having to shell out a hundred bucks a day. This company sounds like trouble.
Jane

United States

#19 May 16, 2011
Atlantic and Pacific Escrow is a subsidiary of Carrington Mortgage (seller) along with Atlantic and Pacific Real Estate (listing office). Carrington Mortgage opened these companies so they can keep more of the money when selling these homes. The problem is that the people at the top talk a great talk but have no experience in the business. They pay such low wages to the assistants that they are ending up with the less experienced and more desparate employees who are expected to work with no guidance what-so-ever.
Seller has an Addendum of Choice of services, but if you choose NOT to use their escrow, buyer has to pay for both, buyer and seller cost of escrow. WARNING: Do NOT expect this escrow company to know what is needed in any transaction. Buyer's agent better know what they are doing or you could be in serious violations. The sad thing is that they are in contact with other asset management companies (ie., Old Republic, Saxxon, Fannie Mae, SeriveLink)to give them more listings. I hope these asset mgmnt companies due their due dilligence and see how many transactions fall out of escrow because of their lack of experience and professionalism. Most escrows don't close on time and require one or more extensions. Be prepared to wait.
Jane

United States

#20 May 16, 2011
If you were a real REO expert you would know that there are many experienced brokers and escrow companies that are able to perform timely and professionally. The only reason you are saying anything is because you are probably one of those managers who works there. They opened their own escrow company because they are greedy and want to keep more of the money. Look at all the bad reviews. This is a company that does not know what they are doing along with their sister company "Atlantic and Pacific Real Estate".
REO EXPERT wrote:
None of you have any idea of what you are saying. As an REO Expert I can tell you that you WERE NOT charged the 100.00 per diem if the reason you did not close your escrow was due to the delays of the escrow company. With the REO's it takes approximately 1 to 1 1/2 weeks to get your information into the upload. Over 150 escrows are opened each day and are put in a line for opening. You may use any companies you choose, however, because of the volume and problems associated with the REO's there are incentives to stay within the companies set for REO, which they are professionals in handling. Too bad your agents did not explain things a little bit better you wouldn't be feeling the way you do. Everybody wants theirs right then, right now. In a high volume real estate deal things take time. The buyers are not punished for that. You did not pay 100.00 per diem for any delay unless your lender delayed it or you delayed the closing. Carrington is one of the best I have ever seen. This type of market is all new to alot of you agents and buyers out there so you really have no idea. My advise- hire a real estate agent that is an expert in the field. So you will be advised and have the knowledge that the escrows and closings take time and buyers should just concentrate on their loans with their lenders, however, gettin a lender or loan agent who is an expert in the REO field is a plus, they too can help you and keep you informed. So whoever says they paid 100.00 per day because the escrow did not close on time is not honest. It dosen't happen. GET AN REO EXPERT FOR YOUR REAL ESTATE AGENT AND YOUR LENDER and just know it does take time.
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