| 02/07/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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I applied for a loan with Excelerate Capital. I was approved and all of the conditions were satisfied. The lender canceled my loan after my loan was locked and clear to close due to rates going up. The lender verbally committed to a rate of 3.125 %, later they said that they locked the rate at 3.25 %, so my mortgage broker ( XXXX XXXX XXXX ) said they would pay over {$4000.00} to buy the rate down to 3.125 %. The lender issued another lock for 3.125 % with a cost. When my broker ( XXXX XXXX XXXX ) asked the underwriter when the loan documents will be issued, the underwriter stated that the attorney said he will not honor the lock because the rates went up and that they will lose money. Isn't that why the customer has the option to lock? I took a risk in locking the loan because if rates went down, the lender wouldn't give me the lower rate since I locked in the rate. This lender has caused me hardship by not honoring my loan and now rates have gone up and I have no loan. They required that my credit get pulled twice, so I 2 inquiries on my credit report, which lowered my XXXX score.
Below is the attorney information. I am asking for your help to have this lender honor their commitment to me. I appreciate the CFPB in looking into this matter and having the lender honor their commitment.
XXXX XXXX, XXXX.
XXXX, General Counsel Excelerate Capital XXXX XXXX XXXX, XXXX XXXX XXXX XXXX, CA. XXXX XXXX ( XXXX ) XXXX Direct ( XXXX ) XXXX Fax Thank you, XXXX XXXX XXXX 1918 XXXX XXXX XXXX XXXX XXXX XXXX CA XXXX XXXX
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| 09/19/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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Bought a house and financed through Excelerate Capital. Right after the loan closed escrow and before the first payment was due on XX/XX/2022 Excelerate Capital sold the loan to XXXX XXXX. I had my payments set on auto pay from my business checking account with XXXX XXXX. XX/XX/XXXX comes Excelerate Capital debits my account for the payment in the amount of {$14000.00}. A week later XXXX XXXX calls and says I didn't make a payment and that they had bought the loan! I stated I had made a payment and my loan was on auto pay. They replied OH your on auto pay ok we'll take care of it. Then on XX/XX/XXXX XXXX XXXX debits my account for the same XXXX payment of {$14000.00}. I've contacted both finance companies and now they are both playing the game that I should contact the other finance company. Neither take responsibility. I want my money back plus XXXX XXXX interest like they charge me on the loan. Now they don't respond.
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| 06/09/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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My loan was transferred from Excelerate Capital to XXXX. Excelerate capital never made me aware of the transfer. Excelerate Capital said they sold the loan on XX/XX/XXXX but I was not made aware until I received XXXX XX/XX/XXXX statements, XXXX from Excelerate Capital and XXXX. Not only that, I have a statement from Excelerate Capital for XX/XX/XXXX which I paid on XX/XX/XXXX for {$1500.00}. If Excelerate Capital had sold my loan on XX/XX/XXXX why did I get a statement for XXXX and XXXX. XXXX sent me letters of delinquent payment but I was not aware that my loan had been sold, the fact that I had a statement from Excelerate Capital for XXXX and XXXX. I have been in daily contact with Excelerate Capital and XXXX since XX/XX/XXXX when I discovered the issue. The inability for these XXXX companies to process the transfer is astounding. Now it is past the 60 day protection and things still haven't been resolved.
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| 07/23/2023 |
No |
- Mortgage
- Conventional home mortgage
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Web |
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| 01/09/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Struggling to pay mortgage
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Postal mail |
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| 08/17/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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| 04/26/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Postal mail |
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| 04/15/2022 |
Yes |
- Mortgage
- Home equity loan or line of credit (HELOC)
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- Trouble during payment process
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Web |
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| 03/04/2022 |
Yes |
- Mortgage
- Other type of mortgage
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Web |
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| 02/01/2022 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account information incorrect
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Web |
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