| 07/12/2015 |
Yes |
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- Application, originator, mortgage broker
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Web |
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I was referred to George Mason Mortgage and XXXX XXXX, NMLS # XXXX, by XXXX XXXX as a result of my interest in purchasing one of XXXX 's townhomes in XXXX XXXX, MD. I went to a presentation at the homesite where XXXX was giving a presentation on options available to 1st time homebuyers to obtain down payment assistance. At that time, he informed the group of a program where 1st time homebuyers with greater than {$25000.00} in student loan debt could get a loan with an interest rate of 2.75 fixed for 30yrs and XXXX down payment assistance. The program was a new initiative that had just come out the day before the presentation. I was very excited about the program because I had a great deal of student loan debt and would not have been able to purchase a home with payments I could afford otherwise. I made application the following day for the loan and was told by XXXX that I was the very person this program was made for and I met all the qualifications. I followed by putting a contract on a to be built home that would be completed around when my current lease would end which was in the XX/XX/XXXX/XX/XX/XXXX timeframe. I cooperated fully and provided all documentation requested in order to qualify for the program mortgage loan. I received a preapproval letter and good faith estimates that included the program funds and interest rate. I picked out all my preferences for the home at the builders design center and made a home choice based on the amount I was told by XXXX that I could afford. XXXX months later, I receive an email from the salesperson at the builders homesite, asking me to come to a meeting with her and XXXX regarding financing options because the money from the program I applied for was running out. It also said not to worry because my funds were secure but they wanted to have a back-up plan. I was confused and did n't understand why we needed a back up plan if my funds were secure. At the meeting I was told that the initial program did run out of funds and there was a new program but with a higher interest rate and only {$5000.00} in down payment assistance. I asked why should I have to take the XXXX program when I had already applied for the XXXX program. I was then told that I had to close on the home within XXXX days and my home would not be closed in the XXXX day window. I asked why was I not told about the closing timeframe so I could have made another choice and there was no explanation. I was told that there was a possibility that I could receive an extension on the closing date but that even the extension would not be able to extend to my closing date of XXXX. I made it clear that the only way I could afford to go through with the purchase on the home is if I received the terms of the original program because the alternate program would make my mortgage payment too high. I sensed that there was something I was not being told and called the state office that managed the program the following day. To my horror I was told that I was never submitted for the program by my loan officer. I called XXXX and told him that I was contacting the state program office to ask for an extension to which he responded, " do n't do that ''! After telling him that I contacted them, he finally admitted that he neglected to submit me for the program with the excuse that it still would not have mattered since I was not closing within the XXXX day timeframe. I asked him again why he did not tell me this information up front and he had no real answer. I have requested that his company make this error right by buying down my interest rate to what it would have been in the initial program and provide the additional {$5000.00} in down payment assistance that was lost. He has been unwilling to correct this error that has cost me my only chance to purchase a home and I do not think this is right.
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| 06/28/2015 |
Yes |
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- Application, originator, mortgage broker
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Web |
Servicemember |
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I am XXXX XXXX and receive both social security and long-term XXXX payments. I, along with my wife as co-borrower, applied for a VA loan from George Mason Mortgage in XXXX, VA ( branch office inXXXX, VA. ) I am virtually debt-free and have a credit score of XXXX.
I have over {$30000.00} in savings, very little consumer debt, and a home that is paid for ( which I am selling ). My wife and I had to contact theCEO of George Mason Mortgage, XXXX XXXX XXXX, and file a complaintagainst its loan officer, XXXX XXXX, because he was not processing my VA loan, my VA loan and kept drilling me on my public assistance and LTDpayments ( " income '' ) even though I provided him a lot of supportingdocumentation regarding my income ( which is sufficient for the loan I am seeking ). XXXX XXXX started drilling me about my specific XXXX and even said he even wanted to contact XXXX, the XXXX insurance company, becauseI " could '' lose this XXXX payments ( which is highly unlikely ). XXXX XXXX insisted thatI have bank statements from XXXX XXXX XXXX -- where I have $ XXXX in savings -- stamped and signed off by a bank official. It appears that XXXX XXXX has lost or misplaced some of my supporting documentbecause he kept asking for the same documents over and over. Then, his senior VP ( branch manager ) took over my loan app and was thepoint-of-contact. I still have trouble getting answers to my questions.
It appears to me that I am being overcharged by this lender beyond the closing costs and 1 % of loan amount that the VA allows. The lendersent me a commitment letter that contradicts other documentsXXXX.XXXX sent me to which locks in my VA loan rate of 3 % APR15-year fixed. I have complained to the realtor, who says she wo n't use George Mason Mortgage again for any of her clients. ( She hadrecommended this lender to me and is now sorry that she did so. ) I have complained to the CEO again and have kept him in the email distribution as I try to get answers and get this loan completed. I am certain that I have beendiscriminated because of my XXXX and receiving XXXX income.
With my credit score, credit history, current income, no bad debts, etc., Ishould not be hassled and questioned so heavily -- and repeatedly -- regarding my XXXX and eligibility for this loan. If legal assistance isavailable, please let me know.
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| 05/24/2017 |
Yes |
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Web |
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First, this complaint does not fall into any of the categories you gave me to select from. This complaint has to do with my rights, or the lack thereof, in connection with selling my home located at XXXX XXXX XXXX , XXXX , VA XXXX . As a seller, I 've been told that I have NO rights to be advised as to why the closing for the sale of my home has been delayed REPEATEDLY. How can regulations put in place by a Consumer Protection Bureau pr ovide rights to a buyer and not the seller? My home went on the market X/X/17 and an offer was submitted to me on X/XX/17 with a pre-approval letter from George Mason Mortgage. I accepted the offer the same day ( X/XX/17 ) based on the fact that the buyers had been already pre-approved. The pre-approval letter quoted a closing date of " on or before X/X/17 ''. Late in the afternoon of X/X/17 , I called my attorney 's office to find out if all was good and was told that the closing had been moved to X/XX/17 with no explanation. On X/XX/17 , I found out that the closing had been moved to X/XX/17 with no explanation. On X/XX/17 , I found out that the closing had been moved to X/XX/17 with a comment made by the buyers real estate agent that " the employer had been slow verifying the purchaser 's income but they now had the verification ''. On X/XX/17 , I found out that the closing had been moved to X/XX/17 with no explanation. Now I find out that the closing MAY take place on X/XX/17 but no one is even sure about that. This could go on forever. What are my rights and what recourse do I have? My attorney tells me that I only have recourse if the reason for delaying the closing is unreasonable - however, because the CFPB has said I have no rights to know why the delay has occurred, then how will I ever know if the reason was unreasonable? This agency needs to protect my rights as well. Please let me know what my rights are and what else I can do.
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| 02/25/2016 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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We closed on XXXX/XXXX/15 with George Mason Mortgage, prior to closing we were all aware flood insurance wood be required for the property at that time. I asked for everything related to the payments to make sure all insurances were covered. The lender shopped and provided the flood insurance company, they included the premium in the closing disclosure as well as the monthly cost. XX/XX/XXXX I started looking through the insurances that protect my home, I noticed I did not have proof of coverage for the flood insurance. I called the insurance company that would provide the coverage per the closing disclosure, I was informed I had no coverage because payments were not made. I contacted my lender and asked why the payments were not made, they stated the settlement company was holding the funds. The settlement company stated they never received such funds. The lender finally accepted they failed to send payments and also stated they did not include this amount in the escrow. XXXX I received a new closing disclosure with a higher amount for the flood insurance. As of today, I still do n't have the insurance coverage that was supposedly already paid. Per emails from the lender, I am being asked to sign the new closing disclosure with the date from the original closing. The premium payment for the insurance and the certificate have been lost to the lender since they have n't paid for the policy nor refunded them back to me. I am also being instructed to commit fraud by using a false date on a document because they are having trouble selling the loan.
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| 06/12/2017 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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For the past two weeks I have been trying to work with XXXX XXXX to acquire a mortgage. We originally went to George Mason Mortgage to get a XXXX to XXXX loan. We ran into difficulties because of not being able to verify my wife income. So we reduced the amount of the loan and decide that only myself would apply for the loan. XXXX does not like the much lower amount of XXXX. Since that time he has refused to help any longer. He says even though my wife and I have separate credit account and debts that because I am married to her I must claim all of her debt. He also has told me that I can not claim my two years of XXXX income but I have to claim the business debt. I have successfully completed the HomePath Ready Buyer which is an associated compensating factor which allows for 50 % DTI when using XXXX XXXX XXXX loan. XXXX has said there is not such program. I have asked XXXX to correct his income calculation because as guided by XXXX XXXX rules automobile depreciation claimed on Schedule C needs to be added back into the cash flow calculation. He said there is not such rule. XXXX is also basing his decision on a flawed credit report and has implied that I am lying about the errors. I have asked for a rescore but he has refused. I am also a person with XXXX so I ask for a simple accommodation of meeting in-person to review the documents and to work on the issues, and they refuse to provide me with this simple accomodation.
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| 09/12/2016 |
Yes |
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- Application, originator, mortgage broker
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Web |
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It is widely known in XXXX, Virginia that a Loan Officer by the name of XXXX XXXX spends an inordinate amount of money on realtors and builders on sporting events, fishing charters, etc. There is an undue influence on those individuals to either refer business to him or it ( appears ) is a reward for business sent. This flies in the face of the very reason the CFPB was created. This has been going on for a few years. The community thought his days of this behavior would be curtailed with the CFPB 's visibility and reports of corruption being reduced with heavy fines, etc. However, we 're now under the impression that his " marketing '' is allowable because he continues to flaunt his kickbacks even more. I 'd like to know if what he is doing is permissible or illegal so that competition can be leveled. I happen to be of the opinion that it is not only illegal, but unethical and reprehensible. If, for some reason, his " marketing '' is permitted, we can all benefit from being able to practice the same way.
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| 11/24/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Settlement process and costs
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Web |
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My complaint is with CFPB. Today - I was told by the lender and the title company that I was not allowed to see the closing disclosure because it 's considered confidential on behalf of the buyer. I am the XXXX. I am the extra eyes that make sure all the fees are correctly reflected. Why is it that CFPB is showing disrespect to XXXX who are interested in protecting their buyers? CFPB should have an authorization form for a buyer that ALLOWS XXXX to complete the process and check to make sure everything is as it should be. Minimizing the role of the realtor in the transaction is a huge oversight for a Buyer and any vendors who 's fees may innocently, and inadvertently left off the closing disclosure. How does that get rectified when THAT happens? I am very disappointed in CFPB reducing a XXXX role in the transaction. That is shameful! A Buyer does n't have a clue without the guidance of an experienced XXXX. Shame on CFPB for making settlement that much more difficult despite all your efforts to simplify.
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| 09/19/2016 |
Yes |
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- Application, originator, mortgage broker
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Web |
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| 01/27/2016 |
Yes |
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- Credit decision / Underwriting
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Referral |
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| 08/03/2015 |
Yes |
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- Credit decision / Underwriting
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Web |
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| 02/26/2015 |
Yes |
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- Credit decision / Underwriting
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Referral |
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| 11/21/2014 |
Yes |
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- Application, originator, mortgage broker
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Referral |
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| 07/18/2014 |
Yes |
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- Application, originator, mortgage broker
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Web |
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| 04/28/2014 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Credit decision / Underwriting
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Web |
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| 02/11/2014 |
Yes |
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- Application, originator, mortgage broker
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Web |
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| 10/23/2013 |
Yes |
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Postal mail |
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