Shoreham Bank Opiniões 

worst customer service, talked to one of the staff name TIANI and gave all the info needed for verification purpose, and when i asked what's my account number, she is saying she can't provide that. runaway peeps

We applied for a loan they checked my credit report at the end and not at the beginning wasted all my time to get the info together the collateral was 10 times more than the loan and still denied me what is this world coming to

Complaint Regarding Shoreham Bank – Home Improvement Loan

When I first opened my loan with Shoreham Bank, I ran into immediate problems making a payment due to their extremely user-unfriendly online platform. I didn’t want to open a Shoreham bank account, and because of that, I was forced to use a separate and confusing external payment link. This link only works if you enter your name in a specific way (e.g., all lowercase or all caps), and if it’s not exact, it fails. I had several emails back and forth with their team trying to troubleshoot—but they have very limited hours and don’t allow email submissions after hours or on weekends, making resolution even harder.

When I tried to set up my bank account info in the system, it failed to register properly. Again, it seemed designed to push users into opening a Shoreham account instead of using outside banks. Because of these issues, I had to call in my first payment—on time. However, my attempt to make the second payment online failed again, and by the time I got through the process, that payment ended up being a few days late.

Since then, I’ve made 20 on-time payments over two years using that same awkward external link, refusing to open a bank account with them. Despite my consistency, I’ve submitted three separate requests for a courtesy removal of the late payment from my credit report, and all have been denied.

This isn’t about shirking responsibility. I’ve paid my loan reliably for two years. But the initial late payment happened because of a system clearly not built with the customer in mind. It’s unnecessarily difficult, confusing, and—in my opinion—set up in a way that almost guarantees mistakes for new users who don’t immediately open an account with them.

Shoreham Bank has shown no flexibility or understanding, even after multiple good-faith requests. Their unwillingness to remove one late payment, despite an otherwise spotless payment record, feels punitive. I can’t help but wonder if they deliberately leave it on my record to use as leverage in case I request a lower APR or additional funds in the future.

To be clear: I have no desire to borrow further from them, and I wouldn’t recommend others do either. If you’re considering any kind of online credit product with Shoreham Bank, be aware that their payment system is difficult to navigate and seems structured to drive customers toward opening accounts with them.

I’m requesting that Shoreham Bank reconsider my request to remove the single late payment from my credit report as a courtesy. I’ve demonstrated two years of on-time payments under a flawed system, and I believe this to be a fair and reasonable resolution.

The loan process started off smoothly for an FHA Title 1 loan and their “Advantage” home loan. Then Eric misread our credit score, which had dropped due to the hard pull by Shoreham Bank, then misapplied business taxes and depreciation losses as personal debt, then reversed that and decided to artificially deflate our income because “as business owners, you pay less tax and your business lost money so you should pay for that” (the business has its own Tax Identification Number and is a legally separate entity and the IRS has never once had a problem with us) so that wreaked havoc with our debt-to-income ratio. We were just trying to make some headway on $100k in deferred and hidden maintenance, repair and restoration the sellers of our new house ditched us with, including but not limited to asbestos, mold and mouse nests, plus a dumpster’s worth of random cabinets and junk in the basement and garage. Eric started off telling us we qualified for $90k, then $65k, then $0, then $40k when he “found another box to put the losses in” and applied the business losses to our income. Bless this precious bank, but that is a deeply unsophisticated understanding of business taxes. They refused our accountant’s contact information for some free professional development opportunities on how taxes work. Then Shoreham Bank dragged out the process for 4 weeks and brought us to the brink of the 1 month date on which they can make another hard pull to further reduce our credit score. We used our imaginarily reduced income to pay off some 0% interest structured loans to reduce the invented DTI, and they are not able to explain where that income was sourced from, because it exceeds what they recorded us as making. I finally had to pull a Karen and ask to “loop in a supervisor”. Suddenly our loan was processed and the wire transfer sent.

If you like creative accounting that is “heads they win, tails you lose”, unnecessary delays, a roller coaster of hope and disappointment as you contact contractors for quotes and start making decisions on trim levels, design and layout and constantly having to re-prioritize your home improvement projects based on weird accounting and arcane budgeting practices, then Shoreham Bank is the bank for you. If you like straightforward, basic, honest math, don’t come here. Unless you’re filthy rich and just want to pay 8-11% on a small loan.

Edit to add:
I had not posted this yet, so I am adding the contents of the phone call I just had to make to ensure they had actually gone through the paperwork I filled out and put through my automatic payments. I gave them my actual bank’s information multiple times for automatic ACH payment on their forms. They claimed I wasn’t signed up for automatic payments and were just going to let it slide and assess late fees, rather than complete their end of the paperwork. Their website is archaic and rather useless. There is no easy way to set up a checking account so a direct deposits can be made or checks can be uploaded via mobile deposit. I can’t wait to get this paid off so I am done with this bank. I won’t go back for a loan for the next project. I have a long list of projects that will need loans, and some other bank will be getting that interest.

Great service, quick and friendly.
Very easy to use. Very helpful and professional staff.

Very frustrating company to do business with. From the inception of this loan to the management of this loan I had the worst experience ever since acquiring this loan 6 months ago. The process of getting this loan was unreasonably drawn out. The website where I need to manage my loan is unintuitive. You can't do the simplest things on their platform such as paying your loan or generate your text document. The customer service experience is frustrating. I'm in the process of moving my money away from this bank. Comparing them to my primary mortgage company this is a mickey mouse operation.