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The complaint XXXX raised against XXXX was closed because XXXX pointed the issue towards origination and that is Ensure homes.So raising this complaint.
We went through 2 weeks of severe mental stress and loss of health because of negligence by Ensure home loans. We also ended up paying higher interest rate of 3.75 % versus 3.25 % which was originally promised to us, Ensure did not close the house on the scheduled date nor communicated to me in advance that we will not meet the closing date. Me and my family was in panic mode and was in stress to loose {$25000.00} earnest money. We were are sellers mercy.
Below are the details of the problem : We were referred to the XXXX XXXX organization -Ensure Home Loans LLC by our realtor and we started working with them from XX/XX/XXXX. This company with our permission, locked the Interest Rate for the home purchase with XXXX XXXX at 3.25 % for 30 year loan -7 1/2 ARM with 20 % down payment. We got the appraisal report from XXXX XXXX on XX/XX/XXXX for home ( XXXX XXXX XXXX XXXX XXXX XXXX ) appraised for {$960000.00} with sale price being {$910000.00}. We also got the closing disclosure issued to us by XXXXEnsure Loans on XX/XX/XXXX on-track for scheduled closing date XX/XX/XXXX. XXXX/Ensure did not provide final CTC ( Clear to Close ) and we could not close the home as scheduled on XX/XX/XXXX. We did not get any information from them on the problem or the ETA to fix the problem. Finally on XX/XX/XXXX ( after 2 days of passing closing date ) we were told that the XXXX team got the appraisal report changed by same appraiser to {$800000.00} from previous {$960000.00}. Our family went through severe stress for 2 weeks as we were told to lose the XXXX XXXX earnest money, not knowing if we will be buying this house. Finally I had to take the problem on my shoulders to escalate the bank via emails via XXXX to XXXX XXXX XXXX presidents of XXXX to get some attention from XXXX. They apologized for the service breakdown and revised the product and finally I ended up paying higher interest rate and additional PMI every month.
Questions : 1. Why no one from Ensure Home Loans or XXXX were worried about NOT meeting the closing and why are they so careless that the customer might loose {$25000.00}?
2. Why was I not informed in advance that we will miss the closing date?
3. Why was I not communicated on problems in appraisal report in advance?
4. Why was the appraiser asked to change the home value by {$160000.00}? That too the same appraiser within the span of 10 days?
5. How are we going to compensate the severe mental stress I went through for 2 weeks and financial loss due to institution 's negligence?
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