MidWestOne Bank in Forest Lake, Minnesota

The whole staff is great! Always helpful and very quick. Thank you so much, special thanks to Diane for helping me set up my account

Midwest One purchased Central Bank a few years ago, I had been with Central Bank for over 25 years, had around a dozen loans that all were paid on time and paid off. I used to be able to go see a personal banker for a loan and with my history, sign on the dotted line and get the loan. I recently went to Midwest One for the first time after they purchased Central bank for a Refinance home mortgage Loan. I currently owed $26,000 on my mortgage of a $240,000 home. I figured this to be a "no brainer" and wanted to borrow $90,000 against my home. This would include paying off the first mortgage. My wife and I figured that going with Midwest One would be our best bet. We met with a Vice President, Mortgage Banker and both of us had good credit scores. We had to pay up front for an appraisal, and was told that everything looked good and that a tentative closing date had been set. I was working a full time job of 36 hours a week and 4 part time jobs. I usually work around 60 hours a week. I was informed that we were turned down by the bank underwriting dept, because my full time job was not at least 38 hours per week, even though I had been working 4 part time jobs every week for the same employers for 5 years now. The Mortgage Banker then told us we could approved through an outside lender named "DiTech", with no change in terms or conditions. When my wife checked on DiTech Financial, they had horrible reviews. I contacted the person at the bank who was handling our mortgage and asked her id she was aware that DiTech had horrible reviews. This person informed that she was not aware of any negative reviews and that she has dealt with DiTech for 5 years now has had only 1 problem. Amazingly we were approved for this mortgage with DiTech and continued to raise questions with our mortgage banker at Midwest One about our concerns with DiTech. We were not satisfied with the lack of response or "sugar coating" we received from the Midwest One banker, and repeatedly asked about why we were getting hooked up with a "sub-prime" or "predatory" type lender. We canceled our closing with Midwest One and went with another mortgage company locally, who gladly took our business and did not charge us up front for an appraisal. My question is, after the 26 years I have been going to the same bank, myself, my wife and my son all have accounts here, why would I have been handed off to a "sub prime" "predatory" lender like DiTech financial? I have paid off my loan with this bank on a motor home I had financed with the bank. I will be re-evaluating my long standing relationship with this bank. Many other things have changed that I was willing to overlook prior to this matter, such as, not being able to call a person whom I have worked with for many years and instead have to deal with someone out of state at a call center. Being charged a monthly fee for my account when I never had been in the past, and not being able to transfer funds from my account to my spouses account, unless I spoke with the right person. I never had any of these issues prior when the Central Bank was running it.

Great professional personnel. Always pleasure to work with.