| 10/29/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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XX/XX/XXXX - XXXX contacted mortgage broker NMLS # XXXX with interest in using her as mortgage broker. We inform we are interested in selling our home and looking to purchase another. Wife, disclosed she had a bankruptcy 2 years prior, XXXX said no problem we can still apply for loan together. We submit joint application and submit requested documents ( paystubs, bank statements etc. ) XXXX XX/XX/XXXX- XXXX advises we should pay down wife 's consumer debt.
XX/XX/XXXX - We sell XXXX XXXX outback for {$2500.00} and pay down wife 's debt.
XX/XX/XXXX - XXXX advised we are preapproved based on application, we all agreed on strategy to sell current home, use some proceeds to pay down consumer debt and use remainder of funds for down payment on new home. broker states she will work on plan to improve our credit.
XX/XX/XXXX - XXXX and real estate agent are introduced. We offered on home with preapproval letter for {$470000.00}. Offered declined by seller as our home was not under contract.
XX/XX/XXXX - Our resident home goes under contract, set to close XX/XX/XXXX, negotiated rent back until XX/XX/XXXX. Offered again on previous home ( {$450000.00} ). XXXX seller had multiple offers at that point and we declined to make any further offer.
XX/XX/XXXX - We offer {$460000.00} on new home with preapproval letter from broker.
XX/XX/XXXX - officially under contract at new home after some counter offers regarding closing date. XXXX suggested we try to close XX/XX/XXXX so that we can buy up credit scores and get best interest rate possible but seller did not want to wait, we agreed on closing XX/XX/XXXX.
XX/XX/XXXX- XXXX informs us wife can't be on the loan as lender does not like her bankruptcy, advised we refinance our car in wife 's name only and I was then still approved for new home purchase.
XX/XX/XXXX - Our current home closes, XXXX advises how to pay down my consumer debt to start improving credit.
XX/XX/XXXX - XXXX sends closing disclosure with $ XXXX down and $ XXXX closing, we ask why this is because it is out of our budget, broker states not to worry about the numbers, they will be lower as credit improves.
XX/XX/XXXX - XXXX advised further paying down of consumer debts with proceeds from home sale. I also signed redisclosure with still high dollar amounts but XXXXr advises this was to lock in the loan rate as they may be going up and the dollar amounts were not set in stone.
XX/XX/XXXX - XXXX states we can't close on new home on XX/XX/XXXX, states XXXX couldn't be scheduled until XX/XX/XXXX. Pushed closing date to XX/XX/XXXX.
XX/XX/XXXX - We officially moved out of our current residence and start living with friends.
XX/XX/XXXX- XXXX knows we have $ XXXX in savings and available for down payment / closing.
XX/XX/XXXX- Appraisal on new home comes in early. XXXX suggested we not discuss with realtor as it will give her more time to buy up XXXX XXXX and we still have plenty of time before closing date of XX/XX/XXXX. We confirm we still have {$37000.00} in savings and broker says 'We won't use all of it. ' XX/XX/XXXX- XXXX gives us 2 rate options based on mortgage insurance. Also made another payment on my debt.
XX/XX/XXXX - XXXX XXXX agent has appraisal, broker advised not to sign disclosure that was sent as it would delay us 1 day.
XX/XX/XXXX- XXXX asks if escrow refund check has come from sale of our home sale. XXXX that this money is now needed to close ( previously was not needed ) and states she is with head of sales at XXXX to 'sell our family ' and wrap up the deal.
XX/XX/XXXX ( XXXX around XXXX XXXX ) - XXXX calls and informs we can't close as expected, lender doesn't like my recent consumer debt and we need $ XXXX extra to close. XXXX offers a solution to salvage the deal. States she has an 'angel investor ' who can give us the money in way of transferring the funds to wife 's mom, who can then transfer the money to me. Then we can repay the loan over time at 12 % interest. I recorded call with broker asking her questions about why/ how this happened, why she didnt raise concern earlier, if this XXXX investor was a legitimate avenue ( it is illegal ). I asked her to start whatevers needed to terminate contract and later that night asked her to send my loan packet to 2 different brokers ( suggested to me by my realtor ).
XX/XX/XXXX - I call Mortgage company, employer of the broker to file complaint and try to speak to someone about getting XXXX XXXX XXXX XXXX information. XXXX XXXX of company calls me back, we discuss issue. He asks for all documentation we have, timeline and recording. I sent this info to him.
XXXX some back and forth calls with regional VP, who said he wanted to rectify the situation via some financial compensation. Friday XX/XX/XXXX I had told him I was looking for {$50000.00} in total compensation to include punitive type damages but I knew that was very unlikely. Asked again how to move forward with XXXX XXXX XXXX XXXX claim as this seems to be a reputable thing to file a claim for. My wife had also quickly done a breakdown of at least {$13000.00} in other compensations. On final call he offered {$7000.00} in compensations for our losses/hardship. I told him we had enough losses and case enough to file complaints with all agencies necessary including Consumer finance, FBI, XXXX etc. He stated we're welcome to go the legal route but suggested the company 'has n't lost a legal case to date. ' I told him to take the $ XXXX and 'shove it up your XXXX ' as his statement about having never lost a legal case seemed condescending and trying to rectify the issue was obviously not their concern.
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| 07/07/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Application, originator, mortgage broker
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Web |
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To whom it may concern : We started our home mortgage qualifying process in XXXX 2016. We expressed CLEARLY to our loan officer, XXXX XXXX, ( NMLS # XXXX ) of Barrett Financial ( NMLS # XXXX ), that {$1800.00} was our max payment budget.
At that time he pre qualified us for up to {$310000.00}. We found a home we LOVED. The contract was accepted on XXXX XXXX, 2016 with a close of escrow date of XXXX 2016.
We proceeded as directed to pay for and have a home inspection and termite inspection done for the amount of {$300.00}.
In Arizona we have a 10 day inspection period and during that time for any reason should the buyer cancel, the full earnest deposit is refunded. We had deposited {$1500.00} into escrow as an earnest deposit.
We received our INITIAL DISCLOSURES ( attached ) on XXXX XXXX, 2016. 15 days prior to our scheduled closing date.
We were shocked that our payment was going to be {$1900.00}. We immediately wanted to cancel the transaction, however when we started to investigate, it came very apparent that if we did not proceed with this transaction, we would lose our {$1500.00} earnest. XXXX then told me if I changed my withholding on my check, I would have more money in my net pay, therefore enough money to cover the larger payment. We were told that as recently as 2 weeks prior to the disclosures being provided that Mortgage Insurance rules changed, and that FHA lowered loan limits in XXXX ... XXXX. And that was why the payment was higher. Both of which we were able to determine were just flat out lies.
We reached out to the Loan Officer and the best he would do is change our loan from Buyer Paid Mortgage Insurance to Lender Paid, thus increasing our rate by .625 %. And poof, magic our payment is {$1700.00} But not once, did he explain how the loan would finance out over the XXXX yr term, and what the cost would be in the long run.
We also asked XXXX repeatedly to provide us something that had been sent to us that we SIGNED that were the initial disclosures within the required 3 day period. If we missed something ; we own it and move on from the loss. XXXX NEVER responded to the request. I had another loan officer review the docs that were sent on XXXX XXXX, the documents are clearly initial disclosures.
After some research, we have found that the INITIAL DISCLOSURES, should have been delivered to us within 3 days of the contract, as the subject property address was the only item missing from completing our application. Due to the complete disregard for Federal Compliance requirements, we paid for an inspection and sacrificed our earnest funds.
We lost {$1800.00} by cancelling this transaction, because we were not going to feel like hostages to this loan officer, or the loan he was trying to wrap up pretty with a red bow.
We feel that the protections put in place for the consumer were violated at our cost.
I would like some guidance from the very Federal XXXX agency that is in place to make sure this does not occur again, and I feel that XXXX XXXX and/or Barrett Financial should reimburse us for our losses at the very least.
Thank you for your assistance in this matter.
XXXX and XXXX XXXX
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| 10/12/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Closing on a mortgage
- Closing disclosure or other related disclosures
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Web |
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To Whom It May Concern, On XX/XX/2023, I received a Closing Disclosure from Barrett Financial Group , L.L.C . with the estimated disbursement date of XX/XX/2023. This Closing XXXX had a charge of XXXX XXXX discount points ( {$1800.00} ) being charged at closing.
However, on XX/XX/2023, I received a new Closing Disclosure that had a charge of XXXX XXXX discount points ( {$4700.00} ) being charged at closing. There were no changes to the loan amount, interest rate, or any other valid change of circumstance. Also, all of the other costs stayed the same. The discount point charge in XXXX XXXX was the only item that changed between the two CDs. We also did not require a lock extension, as we had over XXXX weeks left on the lock.
I did not receive anything detailing a change of circumstance, nor did I see any changes in the loan from XX/XX/2023 to XX/XX/2023. As the origination fees have a zero tolerance for changes unless there is a valid change of circumstance, I believe Barrett Financial Group , L.L.C . illegally charged me XXXX XXXX in discount points ( {$2800.00} ).
On XX/XX/2023 I requested multiple times via email that the Loan Officer, XXXX XXXX, honor the CD from XX/XX/2023, as I had not agreed to any changes to that CD. The Loan Officer refused to honor the XX/XX/2023 CD. The Loan Officer provided no reasoning for his refusal, other than that he wanted the additional compensation ( Specifically, the Loan Officer stated that the discount points were his only source of revenue and that even with the additional discount points he would be losing money by closing the loan. I believe that this may have been another deceitful tactic, with the aim of deterring me from escalating the issue, as my understanding is that Barrett Financial Group , L.L.C . was acting as a correspondent lender, and as such, their fees would typically include much more than just the discount points, and those fees are hidden from the borrower on the CD. ) At this time the transaction was already significantly delayed, and the seller had already agreed to XXXX purchase contract extensions to cover lender delays. The seller threatened to not extend closing a XXXX time. To avoid losing the home, I had no choice but to close the loan, which contained the additional XXXX XXXX overcharge in discount points.
On XX/XX/2023 I escalated this issue to XXXX XXXX, the Regional Vice President of Barrett Financial Group , L.L.C . I have reached out a few times since. I have not received a resolution.
As there was no valid change of circumstance, I believe Barrett Financial Group , L.L.C . illegally charged me XXXX XXXX in discount points. Therefore, I am requesting a full refund.
I have attached key supporting documentation. However, I would be happy to provide any additional supporting documentation, including email or text message communications, to assist in resolving this matter.
Thank You
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| 05/08/2021 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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On XX/XX/XXXX I signed loan documents to refinance my VA home loan. The broker, Barrett Financial Group, L.L.C ( " Barrett '' ) of XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX, AZ XXXX, told me that my new mortgage payment, included escrow payment, would be approximately {$2500.00}. Six ( 6 ) months later, in XX/XX/XXXX, my mortgage payment jumped to {$3400.00} which is {$920.00} more than my approximated mortgage payment at the time of closing AND {$410.00} more than my mortgage payment prior to this refinancing which reduced my interest rate! I reached out to Barrett and was told that this increase was due to several factors : 1 ) Barrett underfunded my escrow account at closing stating that XXXX XXXX XXXX XXXX ( " XXXX XXXX '' ) of XXXX XXXX XXXX XXXX XXXX XXXX, XXXX, FL XXXX, had incorrectly calculated my taxes by not including my MUD ( Municipal Utility District ) which was {$2600.00} 2 ) Barrett also told me that due to a 'miscommunication ' the mortgage broker XXXX XXXX XXXX , XXXX . ( " XXXX " ) paid my home owners insurance of {$4300.00} even though my insurance was paid during the refinancing process. 3 ) Barrett also informed me that there was a slight increase in property tax of {$270.00}. 4 ) These 'discrepancies ' total {$7100.00} which means that my escrow payment should have increased by {$590.00} ( {$7100.00} / 12 months ) but my escrow payment has jumped {$920.00} ; a difference of $ XXXX month which means I will pay {$3900.00} MORE in escrow payments than what Barrett is telling me the deficit is. I did receive a refund from my home owners insurance company of {$4300.00} since it was paid twice. I kept this money and I have been using it to make my new very large monthly mortgage payment but that will be exhausted XX/XX/XXXX. Barrett financial told me over the phone that " you ( I ) owe this money '' and that there was nothing they or I could except that maybe I could hire an attorney to see what legal options I might have. Barrett told me in an email that " ... as legal options you would have to speak to your attorney ... '' -- I do not have money to engage an attorney to fight this! There are several things I think are of concern here. First, Barrett nor XXXX XXXX nor XXXX seem to be willing to take any responsibility for their part in this debacle. Second, the amount of the escrow 'discrepancies ' should have only increased my escrow payment by {$590.00} but it has jumped {$920.00}. Third, aren't mortgage brokers, title companies and mortgage servicers supposed to carry errors and omissions insurance to pay for financial errors they caused? Forth, this is an outrageous increase, and potentially unsustainable, and all I have received is a weak apology from Barrett and their suggestion I retain an attorney. Please HELP! I believe Barrett should be held financially accountable for a whopping 37 % INCREASE in my mortgage payment.
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| 07/01/2016 |
Yes |
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- Settlement process and costs
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Web |
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XXXX XXXX, 2016 To Whom It May Concern : I am writing in regard to Barrett Financial L.L.C. After dealing with this company, I feel it is very important that all pertinent agencies are notified about their shady business practices. Every other hard money lender in AZ said what he was doing was 100 % illegal for an owner occupied home. I am hoping my letter writing will get someone to look into this company and their ability to follow and understand the law, before they really hurt someone. With all the information they have on me I am terrified of what they are capable of doing to me. I am hoping to put a fraud alert on with all the credit agencies for everyone involved in the deal.
I was very unhappy with this company! I worked with XXXX XXXX. This particular man did not show me respect. He told blatant lies. Another party and I were in the process of purchasing a home with XXXX. He took all our personal financial info ( including bank account info and social security numbers ) and sent us a pre-qualification letter. We found a home and put in an offer, following his guidelines. We thought all was good. We were wrong. The man disappeared. The buyers ( me ), the sellers, our agent, their agent, the title company and the inspection company were all on hold. We talked to the receptionist and she did not know what was going and would under no circumstances allow us to speak to another lender. Then all the phone message machines ( voice mails ) were full, XXXX 's and the front main line. This went on for days until we lost the house. I asked XXXX to simply pay us back for the wire transfer costs to the title company of {$35.00}. He refused and still refuses to this day. I am XXXX and he knew it from all the paperwork. He took advantage and lied to a XXXX person. His lack of communication with his clients was below sub-par at best.
I honestly believe this man thinks he is above the law and better than other people. Pure sociopath in my humble opinion.
Sincerely, XXXX XXXX XXXX XXXX XXXX. # XXXX XXXX, CA XXXX XXXX XXXX XXXX.
XXXX XXXX XXXX XXXX XXXX. # XXXX XXXX, AZ XXXX XXXX
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| 08/28/2023 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
- Trying to communicate with the company to fix an issue with the application process
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Web |
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On XX/XX/2023, I submitted the information requested to XXXX XXXX at Barrett Financial Group to apply for a mortgage loan. XXXX mentioned that he needed additional information to continue the application process since I worked less than 2 years at my current employment since I was a few months shy of two years. I provided additional information for him to contact my last employer since I do the same type of work, sales, but with a different title.
XXXX only contacted my past employer once, but they didn't respond immediately. He called me on XX/XX/2023, suggesting that I hold off on the application since there were some issues with information showing on my check stubs that he needed clarification from my current employer about. I reached out to my employer to inform them about the issue and they quickly corrected it.
I repeatedly tried reaching out to XXXX and his team to inform him that it was updated and I hadn't heard from him. I have a great credit score, I have been pre-approved from another lender but I was checking to see if I can get a better interest rate. I'm writing to CFPB because they ran my credit but didn't complete the process even though I informed them to do so and they ghosted me which is beyond unprofessional as a client.
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| 05/28/2022 |
Yes |
- Mortgage
- Other type of mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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On XX/XX/22 I put $ XXXX down to purchase a house the realtor had me sign an appraisal waiver without discussing comps with me or putting a little on what I would pay above appraisal. The appraisal came in $ XXXX short of the agreed upon purchase price. I dont have the cash to close Im not a millionaire now Im being told Im going to lose my $ XXXX. Please help me get this resolved.
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| 09/25/2023 |
Yes |
- Debt or credit management
- Mortgage modification or foreclosure avoidance
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- Didn't provide services promised
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Web |
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| 03/27/2023 |
Yes |
- Mortgage
- Other type of mortgage
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- Struggling to pay mortgage
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Web |
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| 07/03/2020 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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| 06/10/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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