| 11/15/2015 |
No |
- Mortgage
- Conventional fixed mortgage
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- Application, originator, mortgage broker
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Web |
Older American |
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Mortgage Capital AssociatesXXXX XXXX XXXX XXXX XXXX XXXX, CA 90064XXXX XXXXSr. Loan ConsultantNMLS # XXXXReference : Loan number XXXXProperty Address XXXX XXXX XXXX, XXXX XXXX, NV XXXXBackground : XXXX 2015 I completed a mortgage loan with XXXX XXXX of Mortgage Capital Associates on my primary residence. During that time, XXXX XXXX of Mortgage Capital Associates was fully aware of my credit scores and all financial information as she was the loan officer on the primary residence as well.
XXXX/XXXX/15 - I contacted XXXX XXXX about the refinance of my rental property.
XXXX/XXXX/15 - The appraisal was received. It identified the property as rental with tenant.
XXXX - XXXX - I continued to provide information and get updates.
XXXX/XXXX/15 - The attached Good Faith Estimate ( GFE ) was provided reflecting the correct loan amount and 4.125 % interest.
XXXX - XXXX - I corresponded with XXXX XXXX. Providing all the documentation requested. I have attached some of the correspondence reflecting XXXX emails. I responded in a timely manner and provided any requested documentation.
XXXX/XXXX/15 - I began requesting the amount that I would need for closing. No amount was provided.
XXXX/XXXX/15 - I explained that we needed to close before XXXX as I would be out of town.
XXXX/XXXX/15 - Requested again on the closing amount. No amount was provided.
XXXX/XXXX/15 - I emailed that I was still unclear on the closing amount. No amount was provided.
XXXX/XXXX/15 - Received an email stating they were ready to draw the loan documents and that the rate is 4.375 %.
When I question the rates, XXXX XXXX stated " based on the scenario of the following : Loan amount under $ XXXXXXXXMiddle Credit Score XXXXThe rates should be around 4.5 % to 4.625 %. " I responded stating " I could understand but when the document ( GFE ) was generated my score was known. '' The value of the property and the fact that it is investment property was also known.
XXXX/ XXXX/15 - I stated that " I am still upset over the interest rate and/or the closing fees. '' It was at that point that I believe Mortgage Capital Associates began to lie when XXXX XXXX responded stating " The interest rates have worsened since the start of the origination of the loan. '' This appears to be a bold face lie.
XXXX/XXXX/15 - I responded stating that not according to XXXX. It appeared rates had gone down slightly. Here is the historical data I found showing rates have remained just slightly lower, not higher. Here is what I found on the internet. You can see that on XXXX/XXXX/15 the rate was 3.85 % and when Mortgage Capital Associates was ready to draw the loan XXXX/XXXX/15 the rates between XXXX - XXXX was 3.79 % which is lower. In fact my rate should have been lower, not higher.
XXXXXXXXWhen I pushed about the interest rate I believe the lying started when Mortgage Capital Associates told me that the interest rates had gone up, as noted in the email dated XXXX/XXXX/15 at XXXX. I am not sure why they 're doing this " bait and switch '' with me. I 'm extremely disappointed that they did not honor the rate in their GFE. It appears it was a " NO Faith Estimate. '' I bent over backwards to work with them, responded timely and provided everything they requested.
I feel that, bottom line, Mortgage Capital Associates drug their feet getting me the paperwork as they knew I would be out of town and they tried to miss lead me about the interest rates.
Also, I never got an answer from Mortgage Capital Associates on my closing amount. The closing amount came from the title company.
Mortgage Capital Associates ' needs to honor its Good Faith Estimate. I want Mortgage Capital Associates to reimburse the difference on the value of the loan {$2800.00} based on the increase interest rate I will have to pay.
SincerelyXXXX XXXX
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| 05/01/2018 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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Our mortgage company, Mortgage Capital Associates, delayed closing on our home loan due to negligence and sheer ineptitude. My wife and I were scheduled to close Monday, XX/XX/XXXX. We had an appointment scheduled for XXXX and our loan officer and her manager were not ready to close what-so-ever and had not correctly prepared Closing Documents by the date required to close. This delay caused loss of income to my wife and I, since we were unable to report to work. They rescheduled to close early in the morning, XX/XX/XXXX. However, Mortgage Capital Associates had still failed to furnish documents to our title company due to, once again, sheer negligence and ineptitude. Serious delays to our closing cost our family time and money. Mortgage Capital Associates has no business furnishing capital to anyone. They are unprofessional, incapable, and most importantly, in breech of contract. I would like to advise the Consumer Finance Protection Bureau, as well as the general public, of their unfair business practices regarding my mortgage.
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| 12/10/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Application, originator, mortgage broker
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Web |
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I was contacted by Mortgage Capital Associates by telephone to refinance my mortgage. Because of the low rates, I agreed to explore the opportunity. Upon review of rates at XXXX, I found their rates were 0.25 % higher than some of their competitors. I brought this up to them and they agreed to match it. Now that its time to close the loan, they are telling me that they can not honor the original rate quoted and need to charge me the higher originally quoted. Their excuse is that they had to switch to XXXX XXXX from XXXX. At this point, I have already spent {$500.00} for an appraisal and they know that most customers will just eat the extra costs. This is basically a bait and switch and I believe they never intended to give me the lower rate. Instead, they told me what I wanted to hear to get the business.
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| 12/20/2017 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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In XXXX 2017 I selected Mortgage Capital Associates to refinance my first mortgage. At the time I also had a HELOC. In complete agreement with the mortgage company ( Mortgage Capital Associates ) there was supposed to be a subordination so the HELOC would remain open, and I paid an additional interest rate to do this. However, XXXX XXXX XXXX messed up the closing ( admitted from them ) and the HELOC was closed. Unfortunately I did not find out that they messed up until months later when I received the notice from my HELOC company ( XXXX XXXX ). I am now trying to get the HELCO reestablished, however to date that has not happened. Thus, I was mislead and was charged a higher interest rate, that I will now pay for 15 years for a product that I was not provided.
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| 05/01/2017 |
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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On XXXX XXXX XXXX , Mortgage XXXX promised me by email a XXXX rate lock on a XXXX -year fixed refinance. The 45 days started on XXXX XXXX so the rate lock period should expire on XXXX XXXX On XXXX XXXX I was asked by Mortgage XXXX XXXX to sign " missing '' initial documentation. On this allegedly " missing '' documentation, the rate-lock period had been changed to expire on XXXX XXXX which would amount to a rate lock period of 24 days instead of 45 days. This was a major red flag. I am in North Carolina and Mortgage XXXX is in XXXX XXXX . The distance made it especially important that I could wholeheartedly trust this company. They had no right to alter a guaranteed rate lock.
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| 08/10/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Settlement process and costs
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Web |
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XXXX XXXX, XXXX # XXXX, Mortgage Capital Associates, Inc. XXXX XXXX XXXX.
Changed the lender credit to {$500.00} from {$1500.00} for the HUD statement from the title company before closing on a 15 year refinance. This is a {$1000.00} drop from the last updated disclosure.
They were slow in setting up an appraiser, did not set up an appropriate lock timeline given XXXX hot market, asking for papers that could have been supplied early on in process beyond the lock date.
The claim that there were extra costs and delay because of the subordination notice. This subordination fee was already included in the dated XX/XX/XXXX detail. The appraisal was also competed before this.
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| 02/01/2018 |
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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| 05/08/2017 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Improper use of your report
- Credit inquiries on your report that you don't recognize
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Web |
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| 09/12/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Application, originator, mortgage broker
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Web |
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| 04/14/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Application, originator, mortgage broker
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Web |
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| 01/29/2015 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
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- Loan servicing, payments, escrow account
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Web |
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| 08/28/2014 |
Yes |
- Mortgage
- Conventional adjustable mortgage (ARM)
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- Loan servicing, payments, escrow account
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Web |
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| 12/05/2013 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Application, originator, mortgage broker
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Web |
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| 06/11/2013 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan modification,collection,foreclosure
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Phone |
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| 06/03/2013 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Settlement process and costs
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Web |
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| 03/07/2013 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Application, originator, mortgage broker
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Web |
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