Union Savings Bank in Columbus, OH

F U-nion Savings Zero Stars is not an option but is my rating!! These A-holes said they would finance my commercial loan on a multi-unit apartment and pulled out 5 days before closing. I know in actuality they wrote a very competitive loan rate with rates coming up that they didn't want to get stuck on their books. I have excellent metrics across the board - Global Debt Service, excellent 6 figure job, minimal debt. The property had excellent numbers - 2.0x debt service ratio. The property is in a rural but commercial part of Franklin County. They bid 1 point under the rest of their competition at 3.75 in 12/2016 - should have been red flag #1 (nobody works for free) I learned they had a $7mm lawsuit that was settled in 12/2016 for discrimination in their lending. I thought well they need clients bad and that's why they're sooo competitive. Should have been red flag #2. Their underwriting in Columbus gave the whole thing "good to go" the whole way (every day) and i had to commit to a bank (again i had several quotes that also saw this project as a winner). They told me as long as the appraisal comes back good we are set... They selected the appraisal company and it came back at the contracted sales price - GOOD!! The CBus underwriter sent it down for final approval to a Cincinnati underwriting lady, who I left several messages with and would not return my call, and she shot it down. Allegedly, she denied it because: 1) she didn't like the Schedule E from the seller: - which we had a clearance from the Columbus underwriter who understood the seller was making his numbers show poor profits for taxes and said "I see this all the time." - Also we have lease agreements showing accurate income and 3 new renters plus coin operated laundry not included - plus even using the income from the schedule E (which would be a 75% occupancy) it is STILL a 1.4 x debt service coverage - PLUS!!! who doesn't run their own numbers? Isn't that to be done before getting an appraisal. 2) she didn't like the location - which they knew from day one (the first thing they knew) - how does she know the market... shes in cinci... her regional office knows the market and was good with the location - which I find out is illegal to not loan someone based on location. I lost $1,850 to complete the appraisal that my back up bank would not use it and other banks rates have already gone up 0.5 pts since December. As well, I almost lost the deal as they popped this on me the JUST ONE WEEK before my contract expired. The owner wanted to let it expire and keep it till the day he dies; luckily, the owners wife is stubborn and wants to go enjoy retirement and gave me an extension. FINALLY, I find out after all this that my father had a very similar issue with them just the month before (thanks dad for the heads up). He was trying to refinance his condo and they were good the whole time just up to the closing and they denied him but kept his $180 application fee A-HOLES!!!! F U-nion

All of the people I have interacted with at the Morse Avenue Branch have exceeded my expectations. They know everyone in my family by name and they are extremely kind and courteous. I HIGHLY recommend the Morse Road Union Savings Bank!