The Federal Savings Bank Reviews 

Good experience with lender no issues explained the whole process and got a reasonable rate.

My research led me to this company. They were very courteous. My credit is not the greatest after veteran husband’s illness and death. I felt pretty optimistic about this potential opportunity to catch up and get ahead of finances especially when reassured numerous times of their policy to “take care” of veteran widows. Completed app. Submitted all requested documentation and taxes. Paid $500 for appraisal-assured it would be included in loan. Not. Ready to close. Approved, home insurance transferred. Denied. They did not help me. Communications stopped. Don’t trust them.

Three credit reports pulled, two after I canceled them and I’m still being harassed by these people, five people trying to get there hands on me, stop already!!!!
The problem is they have no one to answer to!
DO NOT APPLY!!
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Everything was goin good wh this company and I was under the impression that there would be no problem gettin a loan and refinancing my house I just needed to pay the upfront cost for the appraisal and they would pay me back. I did that and the bank couldn't loan me the money so therefore I couldn't close amd they won't refund me the 495 I spent on the appraisal. Absolute BULLSHIT!!! I do not recommend this company!!!

I have never left a negative review before, but this experience left me no choice.

Roman G. was our loan officer for three months, and throughout that process we were repeatedly assured that our loan terms would look very different from what we were ultimately presented with at closing. My frustration is not simply about receiving a higher rate than expected, it is about being led through a lengthy and costly process based on numbers that never materialized.

Over the course of those three months, we received multiple estimates that were several percentage points different from the final rate, along with closing cost estimates that varied by nearly $10,000. What made this especially frustrating was that these weren't simply preliminary numbers we were told might change. Roman repeatedly assured us that he would be able to secure those terms, encouraged us not to worry, and asked us to trust him throughout the process. Based on those assurances, we continued moving forward, only to discover at closing that the loan terms were dramatically different from what we had been led to expect.

The delays had real financial consequences for us. While we waited for The Federal Savings Bank to finalize the loan, construction costs increased, which raised both the price of our home and the amount we needed to borrow. The construction loan percentage also increased during that time.

My husband and I are extremely disappointed with this experience and would not recommend this bank or this loan officer to friends or family. If the numbers you are being shown seem too good to be true, it probably is.

During the construction of our home, their inspector said everything was great. But, The Federal Savings Bank was a partner of the builder and, ultimately, the builder didn't produce what the blueprints required. The Bank said the inspector basically did 'good enough' even though they refused the final payment and I'm now in a lawsuit with the builder. Then, to top it off, the Bank charged me fees that weren't on the CD. Don't use The Federal Savings Bank! If you're a vet, run far, far away because these folks aren't there for you!!

For the record, I responded to the Bank's reply at the email they provided. Nothing! No email response! No phone call! Just silence. Please save yourself and never talk to them about a mortgage!!

My husband has been dealing with them for about 3 weeks. They make refinancing sound so amazing. We signed the closing documents 11 days ago. Then they wanted more paperwork. They said it would take 72 hours to complete the loan. Now we’ve been told it’s still in underwriting. For well over a week it’s been in underwriting. How hard is it to approve or not approve a loan. It’s a “yes”or “no”. It’s not rocket science. Who’s running this place? Obviously, no one there has the authority to make a simple decision.

DO NOT WASTE YOUR TIME WITH THIS COMPANY

This company presents itself as veteran-owned and claims to work in the best interest of veterans, but my experience was the complete opposite.

I was contacted by Elizabeth just days before signing a new offer with my current lender. She explained that her company was veteran-owned and focused on helping veterans secure better mortgage rates and payments. She assured me they could offer a lower rate and lower payment than my current lender. After reviewing my information, she came back with what appeared to be a better offer.

I informed Elizabeth that I was about to close with another lender, and she promised that her company could complete everything within 7–10 days. Based on that assurance, I moved forward with them.

I was then contacted by Shelly to complete the paperwork. On March 18th, Elizabeth sent me an email stating:
“We have everything we need—just finalizing everything and finishing everything on our end. We will be in touch early next week.”

The following Tuesday, I began emailing both Elizabeth and Shelly and received no response. Shortly after, I received an automated email stating that something was missing in my portal. When I finally reached Shelly, she asked me to upload my mortgage note because she was supposed to request it from my lender the week before but had not done so. I immediately provided the document.

Eric was included in the email chain, so I also attempted to call him multiple times, but my calls were never returned.

Today, Thursday the 26th, I received a call from a woman who identified herself as a manager. She informed me that I had been denied because the rates had changed. I explained that my previous lender’s offer had now expired due to the delay and that I had been told everything was complete and moving forward. She responded by saying that was not her fault and claimed she did not send the earlier email, even though it came from someone within their company.

When I attempted to explain the situation and the impact this had on me, she cut me off, stated she was starting a recording, told me I was denied, and abruptly ended the call with “Goodbye.”

This is not how any customer—especially a veteran—is supposed to be treated. The lack of communication, failure to follow through, and unprofessional handling of this situation caused me to lose my previous lender’s offer and left me in a worse position than when I started.

I strongly advise anyone considering this company to proceed with caution.

Tim

In the beginning we were very pleased with our team. Halfway through our construction loan process, the team left and were replaced with mortgage brokers that could not get a fanny mae loan approved. These folks have more in common with loan sharks than an actual bank. Run, don't walk to another bank. They will hound you, give you no help or creative solutions, even after surviving a natural disaster. We never missed a payment and were still hounded. We have built mult projects, flipped mult houses, have done over 20 mortgages so I can tell you this is not a good company, they will try and steal your property if they can. **Update, even though we paid off 2/27/26 they still reported us as delinquent on the final month. They are not to be trusted.

started refinance in OCT.now almost end of January no movment all i get is waiting for underwriters and investor no excuse for it to take this long terrible way to treat customer and a veteran

My elderly parents were conned into a refi by Carolyn Brown, VP. They now have their house they’ve lived in 47 years mortgaged at over 90% and are paying PMI every month. When I spoke to her on the phone she had the nerve to accuse me of just wanting my parents money. One of their credit cards they rolled into the refi had been paid in full so they were owed back some money but never got it after multiple emails and calls to Carolyn. I found out today that she called them AGAIN wanting them to refi again and raise their payment $500 “but pay off all their credit cards”. This woman is predatory and should be ashamed of herself for scamming old people. Shame on her and shame on this company! Do not do business with them.

I worked with the vice President of this bank. I was approved paid my refundable deposit then due to health reasons I had to stop the process for my home. They will not return to me the money that is CLEARLY STATED is refundable if the loan doesn't proceed through no matter who stops the process. I contacted the BBB and they didn't help. This bank is CLEARLY out to rip off Americans. Beware. Don't even start the process. There is so much more I could share that was negative but limited to space here. Just please be careful!

These guys are a bunch of scam artist. They will say that they can do things they can not, and when you pay them they will ignore and make excuses. They owe me for $495 appraisal that never happened. Austin Hirsch is the one that lied and scamed me.

My experience with The Federal Savings Bank was nothing short of deceptive and fraudulent. I was working with John Forker, who assured me of a specific interest rate without any discount points. Based on that assurance, I paid the application fee. Only after they had my money was I told that the rate would actually require points—completely contradicting what I had been promised. When I reached out to his manager, Mark Bechtold, I received no real explanation or accountability. This bait-and-switch tactic is fraudulent and completely unacceptable. I had to walk away and go with a lender that was honest and upfront from the beginning. I strongly advise others to steer clear of The Federal Savings Bank.

I was shorted a fee refund for a VA appraisal. I was charged more for it, so they could keep the balance for payment due, as I decided to go with another lender and not with them, which, to me, from an organization like this to a Veteran, is pretty classless, I get it, we did some work, we want money for it because you switched to another lender, I will never use them or recommend them to any vet or non vet.

The loan VP I worked with (Tracey Cardina) could have at least disclosed it, but that's why you have to read all of it; I feel like I was taken advantage of. Vets, please stay away from TFSB. Find another more honest lender; there are many out there.

Matt DeCesaro was unprofessional and frankly rude, but worst of all he presented blatantly incorrect information and then attempted to strong arm me into believing it despite my protests. When making a financial decision for hundreds of thousands of dollars and my family’s home, I care that the numbers are correct. Matt did not, and made that clear by saying it was good to overestimate the numbers when he was $1250 off on his tax estimate. I would not recommend working with Matt in any capacity.

This guy tricked me to using them said he can make sure I get loan. I have his email saved. I have my own business have a lot of tax right off. He said they didn’t matter his words in this email. I can do something about your tax write off to make you get a loan. I have his email saved this place number to Scam. I got approved at another location this number but a scam this guy I was hoping to go to them. They had a good price for refinancing to go through everything. I love the price I was gonna do it, but then we started talking about changing stuff on my tax paper Which is in his email. I have saved to try to give me a better interest rate then they contact me back because we can’t work with you. I’m posting this on news channel 2 FOX five news his email saying that I was good. He had me alone. Don’t use this bank. They were scammed the hell out of you now I found out their Ins rate is 2% hired anybody else glad he scammed me.

This was by far the worst company I have ever worked with and if there was a rating for 0 stars that is what they would get. I am a 10 year veteran and they came to me with this refinance opportunity. One that would have changed my life. They said I was prequalified and to me that meant all I had to do was go through the motions and give them what they need. I borrow money from family to get my home appraised and ends up I have $80,000 in equity. They reach out to you all the time in the beginning then drop off the planet once they have the appraisal. Then I get a call telling me that I have 2 payments that were 30 days late and we cannot do the refinance. Excuse me you said I was prequlified. Sorry nothing we can do. No you don't get the appraisal money back. Needless to say worse off than I was before they called. Then the President of one of the Departments calls me and tells me I am qualified for a refinance loan about a week after all this. I told him what they did too me and he said I will get this straitened out. Nothing but crickets after that. As a veteran I Strongly advise you not to use this company. Save your sanity and go with someone else.

James Conley and team were amazing! I had a lot of doubts/questions during the refinance process but he was patient, caring and extremely helpful and made the process smooth, less stressful and also really seemed to be working for us! Thanks James!

Stay away from The Federal Savings Bank and, in particular, Bobby Atkisson. He will lie and mislead you - once you have paid for their low-ball appraisal, he will ask for documentation that he said was not required. This bank and Bobby Atkisson are committing mortgage fraud - stay away!