Union Bank

David P Cooke _{on Google}

Oct 4th, 2022

My 87 year old mother in law got caught in a computer scam. For a month her this Union Bank branch let her wire away her life savings from multiple accounts through several wires. No one at the bank stopped her. Is there any recourse? Disregard the one star-ZERO STARS

Missy B. _{on Yelp}

May 1st, 2022

has any one noticed how union bank  as a whole has steadily gone downhill in the last few years? very disappointing.  this branch is a joke.

Nelson Pineda _{on Google}

Mar 17th, 2022

I had a charge on my checking account that had to be reversed, but when I called the branch in Laguna Niguel (La Paz Rd.) Emily told me she could not help me because the transaction was "pending", she said she had been checking on the account and she promised that as soon as the transaction posted she would credit my account... well, false promises, she never did.

Mel H. _{on Yelp}

Nov 28th, 2021

Terrible mortgage experience.  What a nightmare.  Do not use Union Bank if you actually want a quick and efficient closing

Ami S _{on Google}

Jan 17th, 2022

Im hopeful that my experience was unique and that discrimination in lending is not rampant at Union Bank. Im sure many union bank employees live your banks values and try to be fair, ethical and transparent. This just wasnt my experience. I guess since my name isnt John, William or Benjamin and Im not white the underwriter has a lot of feelings that are more important than underwriting guidelines, equality, credit score or debt to income ratio.
My parents and I recently joined the firms private bank, and were interested in shifting our banking relationship from Charles Schwab and First Republic to Union Bank. However after months of going back and forth, weve had one of the worst lender-client interactions.
My parents put in an offer, it was accepted, and they started their mortgage process with Union Bank and only Union bank (a HUGE mistake)
With good intentions and hopes for a long term banking relationship, we collectively deposited a substantial sum of money and applied for two home loans. FYI - The minimum relationship to start with the private bank is $1,000,000. Schwab provides a 0.75 bps mortgage discount for accounts over $5m but they run the loans through rocket mortgage which sells them off after funding so we didnt take their offer and made the huge mistake of moving over to Union Bank.
In late August 2021 I sold my personal home. My wife and I are hoping to start a family, and we were also looking for an upgrade that timed almost perfectly with my parents purchasing a new home. We lost out on several hones to cash buyers so we decided we would purchase their home, and they would move into their dream home.
Despite getting written loan approval on 10/21 and signing loan documents on 11/1, my parents loan remains unfunded putting us way past our original closing date and jeopardizing our $200,000 non refundable deposit.
Almost daily for the last several weeks, the underwriting team at Union Bank requests additional new documents which demonstrates a clear lack of insight and planning.
For example - our tax return information from our Cpa was submitted the first week of our mortgage application but the underwriters felt like they needed a letter from our Cpa saying our taxes were filled. We even provided transcripts directly from the IRS but the underwriter didnt feel comfortable
Yet another example is repeatedly asking my parents why they want to move into a new home? I guess upgrading to a larger home closer to the ocean is something uncommon.
Despite years in this and other parallel industries, Im still surprised that there is so much subjectivity to the lending guidelines at Union Bank. The underwriter has a role to play and its an important one but it isnt God.
They shouldnt make subjective decisions based on his or her feelings but rather be objective and follow lending guidelines so everyone is treated fairly.
If someone tells you in writing your loan is completely underwritten and approved you feel comfortable releasing all of your loan contingencies. After days of additional paperwork requests they provide loan documents and then chose to add additional requests for information based upon the underwriters feelings.
At union bank written loan approval means nothing and no one at the bank cares to honor their commitments big or small so if you are in the market for a home loan please look elsewhere.