A&D Mortgage LLC CFPB Complaints

2000 Latest Complaints

Date Received	Timely Response	Product	Issue	State / Zip	Submitted Via	Tags
03/29/2022	Yes	Mortgage Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	CA 90068	Web	Older American
I needed to refinance an old mortgage on a rental house I own in order to remove the co-signers, who are now elderly and for whom being co-signers is impacting their estate planning. The original lender told me the only way to remove the co-signers was a complete refinance, so I worked with a licensed mortgage broker since financing rental property is more complicated than refinancing one 's own home, and I am semi-retired with investment income from rental properties as opposed to salary earnings reported on a W-2. The broker found a loan from A & D Mortgage. A screen shot of their web page with the criteria for the program in question is provided. I applied and A & D gave me a rate lock at 5.25 % dated XX/XX/XXXX, ( Also provided. ) A & D questioned some claimed late payments to XXXX and XXXX that were shown on my credit report, and I provided XXXX Letters of Explanation, which also offered documentation that the XXXX and XXXX claims were false. ( Please note that I have been working for some time to get my credit report corrected, but because of the urgency of the co-signer 's request to be removed from the loan I could not wait to complete that process before applying to refinance it. ) A & D requested no explanations of anything else on my credit report. There was no new credit report, and nothing changed after the date of my application. I did not change the type of loan I was applying for, the appraised value of the property I am refinancing is for almost double the amount of the loan, if anything my credit scores should have gone up because immediately after applying for this loan I paid off credit cards in full, and my income and assets were well documented from the beginning. ( Please see CFPB web page https : //www.consumerfinance.gov/ask-cfpb/whats-a-lock-in-or-a-rate-lock-en-143/? _gl=1375e66_gaMTI2MTMwMzU5NC4xNjI1ODQ0MzUx_ga_DBYJL30CHS*MTY0ODIxMjYxOC4xMTEuMC4xNjQ4MjEyNjE5LjA ). I promptly met all A & D 's requests for various documents and records. Without warning on XX/XX/XXXX, the broker informed me that the interest rate on my loan was not going to be 5.25 % as per the rate lock but 5.5 % instead. It is noticeable that this occurred after the Fed raised the interest rate effective XX/XX/XXXX. The broker said the rate increase was due to a single late payment in XX/XX/XXXX claimed by XXXX XXXX showing on my credit report. This was the same credit report that A & D had already had for some time, and based on the information claimed in it, had already questioned other items. While it had questioned the claimed late payments to XXXX and XXXX, it NEVER questioned that one claimed late payment to XXXX XXXX for XX/XX/XXXX. Had A & XXXX questioned the one claimed late payment to XXXX XXXX when it questioned the multiple late payments to XXXX and XXXX, I could have provided a Letter of Explanation and offered the documentation of it being an on time payment as well. ( My banking records show that it was actually made early, in late XX/XX/XXXX, rather than on the due date of XX/XX/XXXX. There was no mention of this one payment as an item of concern at any time. Instead, A & D is using this one falsely claimed late payment as an excuse for suddenly not abiding by its rate lock agreement or its published lending criteria ( https : //admortgage.com/our-programs/ ) AFTER the Fed raised the interest rate. I am now caught in an impossible situation. I can not ignore the request and needs of elderly relatives who were kind enough to help me by co-signing a loan on my property at a difficult time in the past when that was the only way I could get financing. I also can not now reject this loan to apply for something else because due to the increase in interest rates, any current rate would be even more than the fraudulently increased rate above the rate lock A & D is now charging. At this point the closing is scheduled for tomorrow ( XX/XX/XXXX ). I will have no choice but to sign the loan papers, but my signature will be under protest and under duress. I will not be agreeing to accept a 5.5 % rate when I have a signed agreement for a rate of 5.25 %. This is extortion. I am being XXXX and told to lie back and enjoy it.
12/16/2022	Yes	Mortgage Conventional home mortgage	Closing on a mortgage	FL 33178	Web
In early XX/XX/2022 I sought out a mortgage for a home in the XXXX, FL area in the {$600000.00} price range. I was referred to 1st financial incorporated by my realtor. The loan XXXX XXXX XXXX informed me I could qualify for a mortgage via their 12 month bank statement program. On XX/XX/2022 Received a pre approval which stated the loan could be withdrawn if any adverse information was discovered during the verification process. At this juncture I had already submitted the previous 12 months bank statements to XXXX XXXX in order to receive the pre- approval for {$620000.00} ( see attached ). On XX/XX/XXXX I went under contract for the property located at XXXX XXXX XXXX XXXX XXXX XXXX for {$620000.00}. On XX/XX/XXXX, in good faith I paid for {$600.00} for an appraisal. Up until this point I hadn't received any closing disclosures. On XX/XX/XXXX I received an email from XXXX XXXX which requested I verify funds in my bank account of at least {$140000.00}. The loan program required a 15 % down payment ( {$93.00} ). I was unaware the closing cost would balloon to approximately {$50000.00}. I immediately informed XXXX that I do not have sufficient funds needed to qualify for this loan ( I have attached the email ), The same day XXXX XXXX was removed from being my loan XXXX and my loan processing was suspiciously taken over by the Branch Manager XXXX XXXX XXXX XXXX XXXX # XXXX. I received an email from her insisting I obtain the funds in order to close on the mortgage. ( see attached ) She also threatened my Escrow deposit of {$10000.00} would be at risk if I didn't move forward with the loan. This is the juncture when I assessed I may have become a victim of predatory lending. On XX/XX/XXXX XXXX XXXX notified me that the lender will not make an exception for my lack of funds and provided me with the lender conditions ( please see highlighted area in attachment XXXX investor approval ). Even after sending the lender conditions XXXX continued to insist I somehow obtain the funds to close on this loan. I requested XXXX provide me with a denial letter in order to facilitate the refund of my {$10000.00} escrow deposit from the seller. I again reiterated via email that I do not qualify for this loan and do not wish to obtain this loan. Furthermore I received four different loan disclosures with different dollar estimated needed to close. ( see attached ). XXXX again refused to provide a loan denial despite the clear acknowledgement that I do not have sufficient funds to qualify for the loan. In addition continuing to demand I proceed with a loan which I can not afford. I have sincerely tried to resolve this amicably with XXXX and 1st financial inc. to no avail. It is my belief that 1st financial inc is conducting predatory lending practices by approving individuals for loans and later on disclosing varying closing disclosures with high closing cost and fees which were never disclosed prior. The total funds of approx. {$120000.00} were disclosed on XX/XX/2022 on loan disclosure. I didn't attach this because my social security number is included on this document. It is also my assessment 1st Financial inc have violated the truth in lending act. I truly thank the CFPB for looking into this matter in order to protect customers from these unethical practices.
05/18/2023	Yes	Credit reporting, credit repair services, or other personal consumer reports Credit reporting	Incorrect information on your report Account information incorrect	FL 33015	Web
A & D Mortgage LLC has been reporting XXXX of my investment property mortgages delinquent for about 7 months now since XX/XX/XXXX, incorrectly, because they're both in forbearance since XXXX until XX/XX/XXXX. Since XX/XX/XXXX, they have stated that it's been fixed but the bureaus keep getting refreshed with the same incorrect delinquent information. The department responsible for this is only available via email and they never reply even though I have emailed them about a dozen times since XXXX, about once per week. I would like to know if and how this company can be held accountable. I have been denied crucial business and personal credit lines due to the impact this has had on my credit. From XXXX to XXXX currently. I have already filed a complaint with CFPB about this on XX/XX/XXXX, to which A & D Mortage sent a letter stating that the incorrect reporting would be fixed but as of XX/XX/XXXX, the late payments are once again reappearing on my credit reports.
04/11/2023	Yes	Credit reporting, credit repair services, or other personal consumer reports Credit reporting	Incorrect information on your report Account information incorrect	FL 33015	Web
A & D Mortgage LLC has been reporting XXXX of my investment property mortgages delinquent for about 7 months now since XX/XX/XXXX, incorrectly, because they're both in forbearance since XXXX until XX/XX/XXXX. Since XX/XX/XXXX, they have stated that it's been fixed but the bureaus keep getting refreshed with the same incorrect delinquent information. The department responsible for this is only available via email and they never reply even though I have emailed them about a dozen times since XXXX, about once per week. I would like to know if and how this company can be held accountable. I have been denied crucial business and personal credit lines due to the impact this has had on my credit. From XXXX to XXXX currently. I have already filed a complaint with CFPB about this on XX/XX/XXXX, to which A & D Mortage sent a letter stating that the incorrect reporting would be fixed but as of XX/XX/XXXX, the late payments are once again reappearing on my credit reports.
09/26/2023	Yes	Mortgage Conventional home mortgage	Closing on a mortgage Fees or costs after closing	FL 33023	Web
On XXXX XXXX XXXX I bought an apartment in Florida with a loan, we deposited USD XXXX to start the business. This process lasted approx. 4 months, from XXXX to XXXX. At no point did they tell us the interest rate, they only told us that it was the rate that was current on the day of closing. On the closing day ( XX/XX/ ) we consulted that the XXXX had the rate between 5.25 % and 5.50 %, but we were forced to sign the interest rate imposed by the bank A & D Mortgage LLC which was Annual Percentage Rate ( APR ) : 9.322 % and monthly Interest Rate 8.490 %, which does not correspond to the market rate on the day of closing, which we consider a hight rate for the credit acquired. For this reason we require advice from you for the reduction of the current market interest rate, since the bank did not agree to correct it in sustained communication with them by telephone. Thanks in advance for your help
03/09/2023	Yes	Credit reporting, credit repair services, or other personal consumer reports Credit reporting	Incorrect information on your report Account status incorrect	FL 33015	Web
A & D Mortgage LLC has been reporting 2 of my investment property mortgages delinquent for about 6 months now since XX/XX/XXXX, incorrectly, because they're both in forbearance since XXXX until XX/XX/XXXX. Since XX/XX/XXXX, they have stated that it's been fixed but the bureaus keep getting refreshed with the same incorrect delinquent information. The department responsible for this is only available via email and they never reply even though I have emailed them about a dozen times since XXXX, about once per week. I would like to know if and how this company can be held accountable. I have been denied crucial business and personal credit lines due to the impact this has had on my credit. From 760+ to XXXX currently.
12/03/2022	Yes	Mortgage Conventional home mortgage	Trouble during payment process	CA 92807	Web
My structure on my property at XXXX XXXX XXXXXXXX XXXX XXXXXXXX, TN completely burnt down on XX/XX/22. I have reported it to my mortgage company A & D mortgage. Even though there is no more structure on it, they are illegally placing a lender-provided insurance policy for a non existent structure at the cost of XXXX XXXXXXXX on it and want me to pay it. This is fraud. Completely bizarre. Another arm of their company disbursing held insurance proceeds for me the build the structure back which is even further proof that the structure no longer being there. However, their insurance division insists on insuring a structure that is no longer there.
01/18/2023	Yes	Mortgage Conventional home mortgage	Trouble during payment process	PR 009XX	Web
A & D required during the closing process that real estate taxes and homeowners insurance premiums are held in escrow. The problem is, there is no way to get them to pay the insurance company or tax company. They are sitting on my money and now I have to pay out of pocket to the insurance company ( after receiving an extension over the issue ) to ensure I do not have a lapse in coverage. They don't respond to any request for anything. I have escalated it within the company with no response. This is gross incompetence on their part.
01/29/2024	Yes	Mortgage Conventional home mortgage	Struggling to pay mortgage Applying for or obtaining a modification, forbearance plan, short sale, or deed-in-lieu	CA 94591	Web

10/17/2023	Yes	Mortgage Conventional home mortgage	Struggling to pay mortgage Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure	CO 81212	Web	Older American

10/02/2023	Yes	Mortgage Conventional home mortgage	Trouble during payment process Fees charged	FL 33324	Web

08/14/2023	Yes	Mortgage Other type of mortgage	Closing on a mortgage	FL 33323	Web

08/01/2023	Yes	Mortgage Other type of mortgage	Incorrect information on your report Account information incorrect	FL 33467	Web

05/04/2023	Yes	Mortgage Other type of mortgage	Trouble during payment process	NY 13126	Web

11/26/2022	Yes	Mortgage Conventional home mortgage	Struggling to pay mortgage	FL 33331	Web

06/28/2022	Yes	Credit reporting, credit repair services, or other personal consumer reports Credit reporting	Improper use of your report Credit inquiries on your report that you don't recognize	FL 33160	Web

06/22/2022	Yes	Credit reporting, credit repair services, or other personal consumer reports Credit reporting	Incorrect information on your report Account status incorrect	NY 11225	Web