| 03/21/2023 |
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- Mortgage
- Conventional home mortgage
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To whom it may concern, I applied for a mortgage loan with Cornerstone First Mortgage and began my application on XX/XX/XXXX to purchase a home. I went with this company in good faith because my relators husband was a branch manager of the company at the time. I wanted to give both my business because I was appreciative. The week of XX/XX/XXXX, I found out that Cornerstone First Mortgage started a homeowners insurance policy without my consent. I documented fraud with XXXX XXXX XXXX to recoup any funds sent to the company on my behalf. The branch manager apologized for the miscommunication. The policy was not canceled until XX/XX/XXXX. During the negotiations with the seller on the home and up to the time of closing, the branch manager indicated that because we worked on a deal that the seller would fund the closing cost, I did not have to come out of pocket to buy down my rate.
The week of closing, XX/XX/XXXX, I called the branch manager to find out when my final disclosures were going to be sent to me and what I needed to bring to closing. During that conversation, less than 7 days before closing, he stated that the mortgage company would need XXXX plus dollars prior to closing to buy down the rate of 7.6 to 5.6 percent. I told him in a lengthy text message that I felt as though I was misled and that the company was committing fraud by not being transparent with customers about their loans. I also let him know that I was unable to purchase the buy-down at the time. I then proceeded to ask him, if I am unable to do the buy down my rate could I still afford the loan? He stated that I still qualified for the loan amount at 7.6 percent. The branch manager mislead me several times prior to closing and informed me that I would not need to come out of pocket any money for the buydown. If this matter goes to court and I hire representation, I will ask for the court to subpoena my phone records to provide the text messages as supplementary documentation to my case. On the day of closing, I had to come out of pocket {$1000.00} via wire transfer to pay for homeowners insurance the day of closing. This was supposed to be calculated into my monthly payment but since the branch manager started a policy in my name that I had to cancel ; my homeowners company did not have enough time to send the yearly premium to the closing attorneys.
On XX/XX/XXXX, I received a notice that my loan was transferred to another company, XXXX XXXX XXXX. Surprisingly enough, I was forewarned by my relator that this may be a possibility. I began making payments to XXXX XXXX XXXX on XX/XX/XXXX.
On XX/XX/XXXX, I started receiving phone calls and emails from a loan coordinator from Cornerstone First Mortgage stating that when the loan was sold to XXXX XXXX XXXX ; the company asked for an audit on my loan. This prompted the loan coordinator from Cornerstone First Mortgage to review my loan application and supplementary documents and call me because my debt to income was calculated incorrectly and according to what they have on record ; I would not qualify due to student loans. This has prompted me to submit a complaint to the company Cornerstone First Mortgage for negligently making false representations and or claims and the lender qualifying me for a loan and rate that was miscalculated ; therefore, I can not afford it. I notified Cornerstone First Mortgage in XX/XX/XXXX and XX/XX/XXXX about how I felt as though their company committed fraud and scammed me. This was on a recorded line and documentation of the phone call should be available.
As of XX/XX/XXXX, I reached out to Cornerstone First Mortgage for all documents pertaining to my loan as well as all documentation and findings from the audit of my loan. I am waiting to hear back from the lender.
This is predatory lending. I am not comfortable with how the process went at all.
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| 04/11/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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XXXX XX/XX/XXXX when the refinance on my primary loan was taking place XXXX asked me about my retirement account. I stated that I had withdrawn all of the funds to purchase a condo for my daughter without a loan, so that she would have a place to live ( I was in the middle of a divorce ) XXXX then asked me to compose a letter that stated that " I did not have a retirement account ''. I did as asked and emailed him the letter on XX/XX/XXXX stating that " I do not have a retirement account '' XXXX will argue that I did not disclose that I owned this property.
XXXX XXXX I was asked who XXXX XXXX ' is? and why is he on my homeowners Declarations page? I replied with He's my son and he lives in the home. Then it was requested that I remove his name from the declarations page unless he was going on title. I removed his name and sent in the new declarations page.
XXXX will argue that I didn't disclose that I didn't live in the property full time that I was refinancing.
XXXX XXXX a new unlicensed " loan partner '' named XXXX XXXX XXXX introduced herself to me and would be my contact for the rest of the loan/refinance process.
I purchased a condo in Utah without a loan, that I was going to stay in for a while to regroup and figure out my life, remodel and rent so that I would have income after my XXXX expired. XXXX was aware of the entire situation and all of this was disclosed in my XXXX which he removed from the backend of the file. Also it was disclosed verbally as well as on my bank statements. My po box in Utah is pretty hard to miss.
Now XXXX is trying to foreclose on me due to residency stating that I didn't disclose that I owned my daughters apt or that I purchased a XXXX condo in Utah ( how is this primary? ) XXXX has also stated in writing that " XXXX XXXX did an audit of XXXX and found that I committed loan fraud '' I've asked XXXX for the proof of the audit, to no avail. He says he can not send me the proof.
I'd like to know the real reason the loan was retuned to XXXX at Cornerstone First Mortgage Lender. From what I can find it has nothing to do with residency.
What I do know now is this. During the loan process XXXX asked my X 's financial guy for a letter stating that I would get XXXX a month in income for 36 months when in fact we were negotiating for XXXX for 60 months. I also know that I never filled out a loan application. I was never asked if I owned other properties. I was never asked if I intended to occupy the property point blank. I do know that I was told that because it was a refinance and I had already lived in the property and that my children lived in the property and were going to continue to live in the property that satisfied the part of the primary loan requirement.
XXXX XXXX called me on XX/XX/XXXX and stated " if I didn't refinance with him at current rates that he'd see me in court for loan fraud '' I did think it was a scam because rates had jumped so high ... my mortgage is 2.5 % What I am finding out is that when loans are kicked back to the originator that the originator does NOT have to show you why. They can scare you and threaten to take your home. This means that the originator can slice and dice your loan then accuse the consumer of anything they want, and then foreclose.
This has been horrendous and continues daily.
XXXX XXXX XXXX XXXX XXXX # XXXX XXXX CA XXXX XXXX
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| 07/08/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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I have been under contract to sell my home for almost XXXX months. The buyer was using Cornerstone First Mortgage for their loan. At XXXX, the night before we were under contract to close at XXXX the next morning, the mortgage company requested a foundation, plumbing, and roofing inspection. All three inspection reports had been available for over a month, but they waited until less that XXXX hours before closing to request that information. I agreed to extend the closing another week, even though it was a huge mistake on their part. We received nothing from them, no returned calls, no documents, nothing... They wouldn't return phone calls, texts, or emails until after XXXX the day of closing to say that underwriting was still reviewing and requested it be extended another week. Now we are at the day before closing the 2nd extension and still nothing from them. They ignore repeated attempts to contact them by phone, email, or text. This incompetent mortgage company has now put me out of contract for the home I was set to buy. They have greatly impacted my personal and professional life by repeatedly extending and not responding and they have cost me hundreds of dollars for movers and storage facility fees. The title company has stated that they have never seen such unprofessionalism before.
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