Barclay Butler is a broker who pretends to be a direct lender. Buyers are made to believe the yield spread premium on the good faith estimate is a fee paid to Barclay Butler for selling the loan that Barlcay Butler originated and is providing the funding for which is false. Barclay Butler is basically just an agent who gets a commission from real lenders as a finders fee. They disclose buyers personal information to everyone which includes their income, credit score, and the reasons they were denied by previous lenders.
Buyers beware! This is one of the most unethical and dishonest companies you could ever do business with. Don’t just believe my review though, do your own research and pull up this company online, and you will find everything from allegations from former employees of sexual deviancy that involved employees, the owner, Barclay Butler, and his wife, Judy, at their home in Crystal Lake, IL to fines levied by the Illinois Department of Financial and Professional Regulation for not having properly licensed loan originators and failing to register them timely. As a disclaimer I will state I was the seller of a property being purchased by one of Barclay Butlers customers, and they tried to ban me from calling in to find out about the loan for MY house by saying I was harassing them by calling in so many times which is illegal since you have a right to request updates on the sale of YOUR house. Funny thing is I was never rude, disrespectful, and never even used inappropriate language. It just seemed like they were mad I was asking too many questions that may have prevented them from making the most money off the buyers since Barclay Butler Financial is not a lender, they are just a middle-man. The same day they tried to ban me from calling in I contacted an attorney who stated Barclay Butler was wrong and my contract allows me to call in all I want and to continue doing so. I only continued to call because no one ever answered the phones or replied to emails FOR DAYS (Buyers said it was the same thing for them), and when I eventually got a hold of Victoria she would always say, “I just got in the office two or three hours ago and I’m not sure and I haven’t looked yet.” It’s always a red flag when someone isn’t ready for work once they’ve clocked in, but that may just be a disagreement regarding work ethic. The worst part of all of this was the buyers and their agent were just as upset as we were about this entire process even saying, “We do everything they ask, and we get it all done the same day, but then they ignore us for days! They’re constantly changing the conditions of the loan and what they want from us! There’s a complete lack of transparency.” They even stated Barclay Butler was a downright liar and I shouldn’t believe a word he says, and they always submitted everything Barclay asked for the same day when he was telling me it was all their fault, and they were constantly late and unresponsive. They even illegally disclosed the buyers income, credit score, and reasons for previous loan denials to me without the buyers consent, and neglected to fully explain to them what the yield spread premium was going to be. The buyers didn’t even know what a yield spread premium was. Fraud, fraud, fraud!
Please protect your home, your money, and your family and choose literally anyone else besides Barclay Butler Fraud Financial to work on your mortgage.