| 04/10/2017 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Settlement process and costs
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Web |
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Issue : Deceptive mortgage practices by Skyline Home Loans in conjunction with XXXX.
We decided to build with XXXX in XXXX, TX. The XXXX Salesman, XXXX, pointed out the preferred lender is offering a {$5000.00} closing incentive and if we chose to go with them, we will not need to take the 3 % closing cost offered by XXXX. We took the offer to go with the builder 's preferred lender and did not elect the 3 % closing. It made a lot of sense at them time. However, It is very deceptive to home buyers because you voluntarily do not take the 3 % closing offered by XXXX only to find out later, the preferred lender will not pay the {$5000.00} closing incentive or the {$1000.00} best rate guarantee if they do not beat another lender 's interest rate. By that time, we were diligently trying to get the best terms and close on our new dream home. When we complained to XXXX, the builder pointed out we did not take the 3 % closing offered and they will have Skyline Home Loans contact us because the lender must honor the {$5000.00} closing incentive. However, Skyline Home Loans did not and we were bounced between XXXX and Skyline Home Loans until we had to go with another lender to close on our dream home.
Background : I received the following emails from XXXX ( Skyline Home Loans ) : XX/XX/XXXX to follow up on home completion timeline.
XX/XX/XXXX, stating XXXX 's switch to using Skyline Home Loans as the preferred lender will not affect the {$5000.00} incentive. They need updated bank statements, tax returns, XXXX, etc. We provided all requested info.
XX/XX/XXXX, I received XXXX Delivery of Loan Application and Loan Estimate with other documents. The loan application only showed a {$2500.00} lender credit not {$5000.00}.
XX/XX/XXXX, I sent an email citing the deficiencies regarding the higher interest rate/APR of 4.25 and 4.752 and section D did not contain the {$5000.00} closing incentive.
XX/XX/XXXX, we spoke and I explained our credit union is offering a 3.87 Interest Rate and that based on their {$1000.00} best rate guarantee, they should match it and still offer the {$5000.00} incentive closing. I requested new documents to reflect the changes. He said sure, we can do it verbally. So I waited and waited to no avail on the new documents.
XX/XX/XXXX, I received an email again stating the {$1000.00} best guarantee. I called and left XXXX a message reiterating the need for a new loan application to reflect the matched interest rate and {$5000.00} closing incentive.
I never received the updated documents from Skyline Home loans or an explanation for not receiving the {$5000.00} or the {$1000.00} for the best interest rate. I did not hear anything else in writing after XX/XX/XXXX, only phone calls to say they are working on it. We had no other choice but to close with another lender in XX/XX/XXXX.
I mentioned our experience with Skyline Home Loans to our neighbor who had the same experience. They did not receive the advertised {$5000.00} closing incentive either. I decided to file this claim because I visited XXXX for decorating inspiration only to see in XXXX, Skyline Home Loans is offering the {$5000.00} closing incentive. In our case, both Skyline Home Loans and XXXX share some responsibility in this deceptive practice as the builder who is advertising the preferred lender should have paid the 3 % closing if the preferred lender could not honor the advertised {$5000.00} closing incentive.
I still have the loan application package which is void of the {$5000.00} closing incentive and the emails from Skyline Home Mortgage confirming all that is stated above.
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| 03/17/2016 |
Yes |
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- Application, originator, mortgage broker
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Web |
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I am a XXXX in XXXX, Texas and this complaint is on behalf of myself and my client as well.
My client was applying for an FHA mortgage with a company called Skyline Loans. The mortgage broker was XXXX XXXX, XXXX # XXXX. The problems were many, but the notable few were as follows : 1. Very shortly after requesting a preapproval from the lender, he mentioned to my client that he recommends the agent ( myself ) to pitch in a non-specific amount into closing costs for a reason both I and my client are unaware of. He then asked me for this amount -- an unknown amount. This was of course an odd request of the client.
2. I then emailed XXXX to ask why and if this was necessary and a typical practice of his company. This email was met with a general lack of respect and professionalism. I have the emails to prove this.
3. After this email conversation with XXXX, and after the house was well into contract, XXXX then offered alternative representation to my client with agents he knew that would gladly pitch in some still unknown amount to his closing costs. This of course was not well met with the client, and of course, myself.
4. I never once mentioned any problems I was having with XXXX until after the deal was closed to my client. However, Shortly before closing date, my client called me late at night and complained to me for quite some time about the general lack of professionalism he received from his mortgage broker ( XXXX ) and that the promises he was assured of in the beginning and even throughout the process have not been kept, and the structure of the deal had even worsened significantly. The client felt there were blatant misrepresentations and told me he " has the emails and text messages to prove it, '' which he very much does.
5. He once again told the client that the agent would need to pitch in parts of the commission towards closing costs to secure the deal. This is just days before closing. I called XXXX the next morning to alert him of the client soon the make a decision about switching lenders and BEHOLD, suddenly there was a forgotten large amount of lender concessions to apply to the deal that had been conveniently forgotten about.
The deal closed, but the obvious self-interest at the expense of the client and general lack of professionalism are enough to form this compliant in hopes to alert any member of the public about this broker 's business practices.
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| 10/25/2022 |
No |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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I am a XXXX XXXX XXXX, representing my sellers in this transaction that has gone bad. My formal complain is against Elite Lending, specifically XXXX XXXX, XXXX XXXX and XXXX XXXX who were all involved in the buyers loan and cc 'd on every message that went out. Close of escrow was scheduled for XX/XX/2022. After several attempts trying to get in touch with XXXX XXXX ( XXXX, XXXX ), the buyers lender, I got a hold of the owner of Elite Lending, XXXX XXXX XXXX ( XXXX, XXXX ) on XXXX trying to get answers as to why 12 days prior to closing, I still had not heard from an XXXX. I was completely unaware at this point that there was even an issue with the buyers loan. I had been in receipt of 2 loan status updates ( one on XXXX & XXXX on XXXX ) that stated the appraisal had been paid for and ordered on XXXX ... which was completely falsified information. I had been advised the evening before from the buyers agent that the appraisal had not been ordered which is what prompted me getting in touch with the owner XXXX XXXX was completely unresponsive. I'd also like to point out that the closing date mentioned on the XXXX was incorrect as it stated the 2nd when in fact it was actually the 1st. After speaking with XXXX several times, he stated that the loan was going to be denied bc the buyers employer would not issue a statement that the buyer was expected to continue to receive additional income like bonuses and overtime pay. Why this wasn't done in the beginning, I do not know.
At any rate, the lender issued a loan denial letter stating " income insufficient for amount of credit requested '' signed by XXXX and the transaction has been cancelled and the buyers XXXX money was released to the buyer.
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| 05/13/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Application, originator, mortgage broker
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Web |
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XXXX XXXX, ( my mortgage holder at the time ), included information in a billing statement about refinancing with New Leaf Lending ( aka Skyline Financial ), an affiliated company. I contacted New Leaf and was assured by XXXX , the mortgage broker that he was familiar with the subordination clause in the affordable housing community where I purchased my home and XXXX had purchased the loans from the XXXX XXXX XXXX . A good faith estimate with a 4.625 % interest rate was provided which I signed and returned and I instructed the rate to be locked in and XXXX told me he did and that it would remain locked until the loan was funded. Any paperwork that was requested was provided quickly by me during the entire four month process. At the very end, when the loan was to be funded, XXXX sent me a new 'good faith estimate ' with a 5.125 % interest rate with the instruction that I should sign it. I was told that I had already signed a 'good faith estimate ' reflecting that rate. That was untrue. This was completely unacceptable to me and after discussion with XXXX and his supervisor, XXXX XXXX, about their 'bait and switch ' tactics, I cancelled all business dealings. I have all of the documentation associated with this refinance including emails and documents submitted to me and by me if you would like to see any of it. Thank you.
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| 09/24/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Application, originator, mortgage broker
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Web |
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We 've been in process to buy this condo in XXXX since XX/XX/XXXX, we have so many delay with the loan and approval from my loan officer ( XXXX XXXX ), we got XXXX counter offers because the due date has passed, the price went up from $ XXXX to {$410.00} as final price.
Since last year we already told XXXX that we do not want any points on the loan since we will refi anyway.
On XX/XX/XXXX he sent me a GFE the closing cost total is $ XXXX, and on XX/XX/XXXX he sent me another email the total closing cost revised to $ XXXX due to 1.625 % points and we have to sign the documents by XXXX since they have to close everything on XX/XX/XXXX otherwise we will lose out down payment of $ XXXX.
His argument is due to my credit score only XXXX, I mention to him, my credit score did n't change for the last 2 days and he said he did n't lock the rate and it charge points after he lock it.
I feel like I 've been set up since they charge me points for $ XXXX like 2 days before the closing day.
My question is : is this even legal?
I know the rule that they ca n't increase from GFE to HUD more than 10 % but this is from GFE to a revised GFE, is this legal? If it 's not, how do I get the points fee back?
Thank you in advance for your help.
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| 02/16/2017 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Application, originator, mortgage broker
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Web |
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My client is being Steered to a Mortgage company by only giving a {$2500.00} Credit and a home warranty. Only if they use there preferred, and that is steering according to what I have heard from other trusted sources. My client is now confused and frustrated. I attempted to negotiate and inform the builder 's representative that what they 're doing is an illegal practice and they said they do n't care.
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| 01/03/2022 |
No |
- Debt collection
- Credit card debt
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- Attempts to collect debt not owed
- Debt is not yours
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Web |
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I continue to receive phone calls from debt collectors that I do not owe. My identity was stolen a few years back and I have been trying to fix it ever since. I have paid all of my past debts but yet I keep receiving calls from accounts Ive never had.
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| 12/05/2023 |
No |
- Credit reporting 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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| 10/26/2020 |
No |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
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Web |
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| 09/27/2020 |
No |
- Mortgage
- Other type of mortgage
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Web |
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| 12/16/2017 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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| 08/22/2017 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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| 07/15/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Application, originator, mortgage broker
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Web |
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| 05/18/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
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| 10/01/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Application, originator, mortgage broker
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Web |
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| 08/01/2015 |
Yes |
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- Application, originator, mortgage broker
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Web |
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| 04/23/2014 |
No |
- Mortgage
- Conventional fixed mortgage
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- Application, originator, mortgage broker
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Web |
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| 04/07/2014 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Credit decision / Underwriting
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Web |
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| 12/18/2013 |
No |
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- Loan modification,collection,foreclosure
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Referral |
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