| 01/12/2017 |
Yes |
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- Application, originator, mortgage broker
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Web |
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On XX/XX/2015 I contacted Mortgage One to obtain a FHA mortgage with MSHDA down payment assistance. I had previously been preapproved by XXXX for XXXX but their XXXX Next down payment assistance program was suspended and I needed those funds for my down payment. Mortgage One was still utilizing the MSHDA Next Program. I contacted them and submitted my application.
The following day XXXX contacted me and said that my DTI was too high and I would not qualify for the loan amount I wanted and I would not qualify for the MSHDA NEXT program. I provided him a schedule of my income based repayment, he said HUD nor MSHDA accepted IBR.
I was shocked by his answer and decided to contact both HUD on Thursday XX/XX/2015 and MSHDA.I found out his information was false and contacted him..
XXXX still refused to budge on his decision. He emailed me stating that there are new laws coming XX/XX/XXXX and HUD will no longer be accepting income based repayment. I went online and read the new rules and they do not apply to me since I am not on deferred payment not {$0.00} due income based repayment. He told me he would contact me after his meeting the following day but I did not heard from him on the day that he stated.
I contacted XXXX XXXX a manager for the Mortgage One location in XXXX XXXX. She was unsure of what happened and I assume she called and spoke to XXXX XXXX the manager of the office in which XXXX works and the officer on this deal. He refused to pass the loan to her office stating that they had done all the work. Which was false because I was the one that escalated the information to the MSHDA underwriter and the HUD rep. XXXX never addressed any of the false statements that XXXX ( his assistant made ) just confirmed that I would have to sell my current home, which was false. MSHDA DOWN PAYMENT ASSISTANCE only goes by the Liquid Assets, not real estate value. XXXX took a further step that neither HUD nor MSHDA required and added my property taxes on my current home, to be paid in full. Again, this was not a requirement of HUD OR MSHDA and they both were aware of my property taxes, that I was making payments on. XXXX even tried to state that property taxes are a federal tax lien, therefore they were required to be paid off before we could proceed, although XXXX at MSHDA said that was not the case ( see attached email ) XXXX and XXXX decided on their own to keep my loan to work on but continued to twist HUD rules and find ways to deny me. I had finally got fed up and told them they had everything they needed and to give me a decision. It was finally sent to the underwriter, that requested a credit supplement to get the payments on my credit report corrected.
On XX/XX/XXXX, I received an email from XXXX XXXX stating that someone from CREDIT PLUS would contact me to get information on my student loans, I received a phone call from XXXX XXXX at XXXX, we were on the phone for 14 minutes getting everything the underwriter needed, she spoke to my loan servicer and received a XXXX repayment term on my student loans. I thought I was all set.
I was anxious to bid on a house I had founds so On XX/XX/XXXX I called XXXX XXXX to check on the status, XXXX told me my loan was denied due to DTI ratio because they are required to use the amortizing payment 0f I ... believe about {$1600.00} although I only pay XXXX a month. He went on to say that the underwriter also took in the factor that I did not have more money saved since I do not have a mortgage payment ... but was using XXXX assistance. I asked him to send the denial letter and he did ... but the one he sent did not have a current date on it, it was the original one from the student loan error .... and not a current correct one. I file with HUD on XX/XX/XXXX and after speaking to atty, filed with CFPB.
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| 07/22/2023 |
Yes |
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Web |
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On XX/XX/XXXX I started my house buying process with XXXX XXXX at XXXX my original interest rate was 3.99 %. and locked in until XX/XX/XXXX.
On XX/XX/XXXX my interest rate changed to 4.625. % and locked in until XX/XX/XXXX.
On XX/XX/XXXX it remained at 4.625 % and locked until XX/XX/XXXX.
On XX/XX/XXXX it remained at 4.525 % On XX/XX/XXXX it changed to 5.25 % and locked until XXXX.
On XX/XX/XXXX it remained 5.25 % My loan amount was for XXXX.
I brought this issue to the mortgage lender attention he stated on XX/XX/XXXX that he had already requested XXXX extension and they cost money. He also stated due to difficulty with the appraisal that he forgot to lock in my rate and he was unable to do anything. I asked him to educate about me this process. He stated typically it takes XXXX days to close and since mines took over 30 days. He stated this led to the increase. The process was extended due to an low appraisal value and the appraisal company XXXX XXXX failure to respond in a timely manner. A request for review was made XX/XX/XXXX and an updated report was not provided until XX/XX/XXXX.
This the email I sent to upper management XXXX XXXX of the mortgage company on XX/XX/XXXX regarding the interest rack increase and the difficulty with the appraisal company.
XXXX XXXX, XXXX at XXXX PM XXXX I am currently working with XXXX XXXX to close on my first home tomorrow. However, initially I was informed that my rate would be locked at 3.99 % ( XXXX and was due to expire on XXXX days ) during this period the appraisal was received on XX/XX/XXXX at {$160000.00}. A request for an accurate comparable to be made was requested the next day and the request was not updated or acknowledged until XXXX. Once corrected the value was assessed at {$180000.00}. I was informed by XXXX that he requested an extension however I see on XX/XX/XXXX the rate was increased to 4.6 % and expired on XX/XX/XXXX. However, on XX/XX/XXXX an extension was requested for the rate of 4.6 % which expired XX/XX/XXXX. The repairs requested from the appraisal were not completed until XX/XX/XXXX. Then on XX/XX/XXXX an extension was requested for 4.6 % which expired XX/XX/XXXX. At this time a reinspection was requested for the completed repairs. On XX/XX/XXXX another rate increased occured which is 5.35 % and brought my monthly payment to {$1400.00}. Initially my estimated monthly payment was roughly {$1300.00} with a 4.6 %. It appears that the lock initially was for only 14 days and it was not extended although the appraisal was not ordered until XX/XX/XXXX and the report was not received until XX/XX/XXXX. The delay from appraisal occured and the correct report was not received until XXXX which at this time no rate was locked in due date lock expiring. A new rate was not locked in until XX/XX/XXXX. Initially mortgage XXXX was handling my paperwork well, but somehow between the miscommunication associated with the appraisal agency ( that is unprofessional and unethical ) and now this rate gouge has occurred has made this a stressful experience.
I remained in contact with XXXX via text and phone from XXXX until I received the updated appraisal. I also requested a new appraisal free of cost because the XXXX appeared to be biased. I was informed that was not possible.
No resolution was ever reached.
The loan was sold to XXXX
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| 04/12/2017 |
Yes |
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- Settlement process and costs
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Web |
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I applied for a home loan with Mortgage 1. The loan I was looking to get was for first time home buyers, FHA 30 year fixed. I just graduated XXXX school within the last year so my pre approval and closing of the loan was supposed to be on my last years income. My loan officer took my financial income for 3 years prior instead of only using the last years income. I called and emailed my loan officer and her office secretary a number of times stating I wanted to know the daily interest rates and I wanted to lock in my loan when I was ready to do so, depending on the daily rate. NO one ever knew the daily loan rates and never would get back to me with the information I was asking for. My loan officer then told me her secretary locked in my loan rate with out my approval and did not even know what she locked it in at. My moving date was 3 days away and I was told If I did not sign the paper work I would not get the house. After figuring out the interest rate she locked me in at I questioned why it was so high from what was quoted to me. Her response was My credit was really bad and I dont get a better rate. FHA loans do not discriminate on credit scores. FHA excepts interest rates at XXXX my credit score was XXXX. My loan was charged a point over what it should have been. The lender made about 18 grand off my FHA loan. I also had to use their attorney for escrow, where the real estate attorney removed closing statements that were the lenders closing statement from my closing documents, stating the numbers where off due to a glitch in their system. My federal house loan ended up costing me XXXX, I went FHA because I felt like it would be a safer loan in consumer protection. These people made a ton of money off a single mother of XXXX children who works full time and is a XXXX. XXXX an unhappy Federal backed home loan consumer who got robbed by a business.
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| 02/03/2021 |
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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Early to med XX/XX/XXXX I reached out to XXXX XXXX at Mortgage 1 to inquire about a re-fi on my existing mortgage with a cash out option for the purchase of a second home. We went over options and I explained my situation and that I had been with XXXX XXXX since I purchased my home through XXXX and Mortgage 1 in XXXX of XXXX and the mortgage got sold to XXXX XXXX. I told him I loved XXXX XXXX and was only interested in doing a re-fi if I could stay with them. He assured me that would not be a problem. I did not re-fi directly with XXXX XXXX because due to covid, they are not doing the cash out re-fi options at that time. So I proceed to re-fi with Mortgage 1 and XXXX and his staff. I regularly made it known that I wanted to stay with XXXX XXXX and each time be it text, email or phone call, I was assured that would not be a problem. At closing, I brought it up to the lady I signed with once again to see who I write my first payment to in XXXX as closing was XX/XX/XXXX. She said to call the office in 10 days to see if it is Mortgage 1 or not and we left. On XX/XX/XXXX, I received an email from XXXX 's office stating my mortgage was bought out by Mortgage 1 and all my online information was enclosed to access my account. I was furious. XXXX had lied to me over and over just to get my business, and I am not sure how much money his office made off my re-fi but he did not give me what he promised me over and over. I am so diasppointed and If it wasn't so much for closing, I would re-fi with XXXX XXXX now just to get away from Mortgage 1. I feel XXXX lied to me and made promises to get my business.
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| 09/11/2017 |
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 and received a conventional loan from Mortgage 1 Incorporated dba XXXX XXXX XXXX XXXX in late 2015 for a Manufactured Home. This was a conventional loan and at the time was pleased with my experience. I am now in the process of selling this home and had made the decision to purchase a new home with the intent to sell the manufactured home.
The issue I am now faced with is that according to HUD regulations I should not have received conventional lending for this home in 2015 due to the manufactured home having been moved to a secondary location. We were in the closing process with a buyer when their lender and title company brought this to our attention. I have talked to at least a dozen lending institutions, some of which specialize in Manufactured Home loans, and they all have said that I should not have been able to receive a conventional loan on this manufactured home. Due to this coming up during the week we were to close with the buyer they have decided to pull out of the offer. This is forcing us to put the manufactured home back on the market at a discount in the hopes of finding a cash only offer or someone who can qualify for a higher rate personal style loan for the home. If I am able to sell it at this discounted price I will have lost {$20000.00} between the first buyer and any potential buyer.
Additionally, had I known we would have had re-sale issues we would not have made the decision to purchase a new home at this time or possibly never purchasing this Manufactured home in the first place.
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| 11/08/2022 |
Yes |
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Web |
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XXXX XXXX was our leading company. We bought a home for XXXX and put XXXX down plus had seller pay XXXX of our closing cost. XXXX XXXX had us bring XXXX to closing table and our mortgage is XXXX, XXXX they gave us an approval letter with XXXX XXXX to close and also lied about us supposed buying down points which was a lie. The mortgage rates weren't even that high. We were stuck because we already put in offer and put XXXX down. We closed on the XXXX of the month which they said would make it cheaper another lie. Why is our mortgage XXXX from XXXX when we put almost XXXX down it should be XXXX. plus there friend did appraise on house and we received nothing but its worth XXXX? How the roof had a 2 foot by 2 foot hole, plumbing was wrapped in tape appliances we destroyed on inside and roof has leaking in 2 bedrooms and in kitchen sane for garage.
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| 09/08/2016 |
Yes |
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- Application, originator, mortgage broker
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Web |
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My husband and I paid for an Inspection in our home. It was for an FHA loan. Everything was good then they told us they could not complete our loan Untill XXXX due to and FHA rule we called HUD and found out they were doing it wrong so we took our business else where. They never logged out inspection and the cancelled it so the other company could not use it.
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| 11/27/2020 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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Company is using predatory tactics to generate fees. Company refuses to forward statements to home address, and then piles on fees as a result.
We put in an official change of address, but company refuses to recognize change. Since we dont get any statements and notifications by mail, fees pile up.
They refuse to remove fees.
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| 05/09/2015 |
Yes |
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- Settlement process and costs
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Web |
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I was discriminated against for my XXXX by Mortgage One. Causing numerous delays in our mortgage processing and leaving us homeless for nearly a month!
The discrimination and delay were due to them requesting that I provide them proof I would remain XXXX for the next 3 years, an action they are prohibited from doing.
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| 09/06/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
- Trying to communicate with the company to fix an issue while managing or servicing your loan
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Web |
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| 08/02/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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| 06/30/2023 |
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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| 02/09/2023 |
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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| 05/19/2022 |
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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Phone |
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| 04/27/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Phone |
Older American |
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| 11/21/2020 |
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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| 12/07/2015 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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