Paramount Bank

"Horrible experience with Paramount Bank. Six months after establishing a Business Money Market Account with over $100,000, Paramount Bank decided to drop its interest rate from the promised .50% to .05% with no notice. I thought it must have been a typo when I first saw it on my statement, because I could not believe that any reputable bank could do such a thing to its customers, particularly a large depositor. When I asked why the change was made, the only answer I received was that it was a decision of the Board. Lousy customer service and absolutely no respect for its customers. Recommend that you stay away from this bank!"

"My mortgage broker was fantastic, kind, knowledgeable in the beginning, but once they pass you off to a loan processor, don't expect any updates or communication. When you send them items, you they lose them and need them resent multiple times. I was prompt with the delivery of every financial document they requested. Once the day came for my closing, I packed up my things, traveled across the country with children and pets, and wasn't notified until 4PM the day off my closing that we would not close that day, because they failed to prepare the documents necessary. My closing was scheduled for 10AM by the way. I was stuck to pay thousands in hotel bills, travel, moving fees, food, etc. DO NOT TRUST THEM."

"I refinanced my mortgage with Paramount. The process was easy and the person I worked with was knowledgeable and responsive. After I refinanced, my debt was sold a month later to another company. I have no issues with the selling of the debt, that is a common practice. The issue I had is no one from the company notified me that my debt has been sold. So when I finally reached out to Paramount to let them know it's been two months and I still haven't received any information on how to make my first mortgage payment it was past the payment due date with the new company."

"Given their claimed interest rate on checking, I thought I would open an account to try it out. I filled out their online application at the end of which a screen thanked me for filling out an application. No confirmation number or other information. I found an email from them a few days later in my spam that just said the same thing - no confirmation number or other information. 5 days later, after no other contact from them, I tried to call for an update. I got their voicemail and left a message asking for an update. I sent the same message to their customer service email. I received no reply from either. This pattern continued until a couple days later a human finally picked up on one of my calls. She said I needed to talk to Russ Miller a Vice President. (In case you've never noticed, everyone who works for a bank is a vice president.) She dumped me into his voice mail where I left a message. He never returned my call. However, the next day I found an email in my spam asking for a copy of my drivers license. The day after sending my drivers license I received another email in cryptic Paramount fashion stating that I did not meet their qualifications and would not receive an account. The only thing I can imagine that may have disqualified me was my attempt to communicate with them. Other reviews and Paramount's web site gush over their down home, friendly style of banking. The feeling I got was trying to communicate with an alien civilization or join a secret society. It certainly isn't worth the interest I would have gotten."

"I selected this company to do my home equity loan. I let the loan officer know I was looking for a quick close. After all the reassurances I moved forward. I figured 3 weeks to 30 days for a close. I realize there may be unforeseen delays but my loan is going on 30 days and I have not not had a telephone conversation with my loan officer since the application, I have no idea what stage of the process I am in, the appraiser came to my house 10 days ago and still has not submitted a report, and getting an email that vaguely says, things are moving along are the only offered responses to my "where are we at?" inquiries. I guess I'll update this review in a month or two when/if I close to let you know how this all turns out."