Sage Bank – Legit or Scam?

I came across a critical review of Sage Bank on a Scam Reporting website – DirtyScam.com, titled ‘The Level Of Service’.

DirtyScam allows anonymous submission of complaints from angry consumers and victims of scams. Since the website is hosted offshore (probably in Russia or India), we take this (negative) review against Sage Bank with a pinch of salt.

Here is what the review says –

We used Sage Bank and Eric Abenaim to secure our mortgage on a new home purchase in the North Shore.Our realtor recommended them as a great ‘local’ option to secure the financing my wife and I required.Throughout the process Eric was often unavailable or only available via email in which he would respond with one sentence.His assistant in the process was equally unavailable and would often make requests with no clear understanding of whether or not the document was actually required.To echo the other negative review – the paperwork that was requested was incredibly onerous.They even requested and ran two title searches on luxury apartment buildings to make sure we hadn’t owned the property – which was absurd b/c a two second review of the address and website (let alone the lease we submitted) should have been more than sufficient.Throughout the process we would question requests and recieve responses that ranged from “hmm… I’m not sure… maybe you don’t need that” to “I’ll have to speak to the UW I have no idea”.It was a painful process and we were not impressed with the level of service.Eric did a poor job of explaining the process, keeping us up to date on the paperwork, and explaining our options available from a rate perspective.He regularly left my wife off emails despite her running point on all document submissions.We would DEFINITELY NOT RECOMMEND them to any friends in the area looking to get a local mortgage.The process came with none of the benefits of a local bank or a large national bank.

In case you don’t already know (assuming you came to this page by Googling ‘Sage Bank scam‘, or ‘Sage Bank review‘, Sage Bank is listed under the category Business on DirtyScam.com.

Here is the rest of the contact information for the sole purpose of identification –

• Address: Broadway Everett MA 2149
• Phone: (617) 933-6041
• Website: http://sagebank.com
• Severity of Scam: High [not sure what it means]
• Reported Loss: 4556 $ [unsubstantiated]
• Reported by: Anonymous [obviously]

The entity Sage Bank was awarded 1 / 5 Stars  based on 1 Reviews.

It is difficult to ascertain whether Sage Bank is a Scam, or Legit, based on this single review. In the coming weeks/days, I will try to research deeper into Sage Bank, analyze and list more critical reviews and identify a pattern (or lack of) to substantiate the claim mentioned above.

Regardless, until then, we give the benefit of doubt to the reviewer and list Sage Bank as someone you need to avoid (for now).

If you have any grievances, complaints, or anonymous tips against Sage Bank, please contact us immediately. If you have lost money to  Sage Bank, together we can work to recover your loss.