Fairfax Lending Inc. CFPB Complaints

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2000 Latest Complaints
Date Received Timely Response Product Issue State / Zip Submitted Via Tags
10/13/2020 Yes
  • Mortgage
  • Conventional home mortgage
  • Closing on a mortgage
  • MD
  • 206XX
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The XX/XX/20 " Loan Estimate '', " Closing Cost Details '' lists two items : Funding Fee {$250.00} and Underwriting Fee {$1000.00}. The XX/XX/20 " Closing Cost Details '' has a new entry : XXXX of Loan Amount ( Points ) {$980.00}. When asked about this charge, the broker ( XXXX XXXX ) replied on XX/XX/20, " The {$980.00} charge is being added due to the current market conditions. " I responded on XX/XX/20, " Adding XXXX unilaterally and without informing me, ie, leaving it up to me to spot it, is called bait & switch. Sleazy. " Broker responded XX/XX/20, " I am not being sleazy. The fee that got added from my investor was actually 0.50 % of the loan amount and computed to {$1600.00}. I only added {$980.00} and took a hit for {$640.00}. '' I responded on XX/XX/20, " If your investor added 50 bps as a condition of approving the loan than that information MUST be conveyed to me for my acceptance or rejection. If your investor added 50 bps because of the new law mandating that cost, theyve applied incorrectly to me since their loan commitment to me PREDATES the law change so the 50 bps does not apply. Someone is being sleazy, dont you think?? '' Broker responded XX/XX/20, " We should have updated payoff later today. Once we have it we will email the final CD for review. '' but I did not receive the updated payof. On XX/XX/20, I asked broker again to withdraw my loan application, per my first request to withdraw on XX/XX/20.