| 07/07/2022 |
No |
- Mortgage
- Other type of mortgage
|
|
|
Web |
|
|
My family was/is selling our AZ home XXXX to move to MI closer to extended family. We were a contingent purchase buying a home in MI at the same time as our sale of our AZ home. The lender our AZ buyers used shut its doors yesterday.
Timeline of events : early/mid XXXX : AZ Buyers lender ( mortgage company - Sprout Mortgage ) delayed ordering appraisal & /or ordered the wrong type of appraisal.
Th XX/XX/XXXX : No CD from buyers. Will get it tmrw. Our AZ buyers closing still good for XX/XX/XXXX.
Fri XX/XX/XXXX : No CD from buyers. Will get it Monday. Pushes AZ sale closing to XX/XX/XXXX.
Sat XX/XX/XXXX : My toddler, baby, & I fly to MI.
Mon XX/XX/XXXX : AZ Buyers sign CD. AZ Sale closing XX/XX/XXXX. MI purchase closing XX/XX/XXXX.
XXXX XX/XX/XXXX : Sprout Mortgage changes AZ buyers close to XX/XX/XXXX. MI purchase still closing XX/XX/XXXX.
XXXX XX/XX/XXXX : My husband & his friend pack moving truck ( 110 heat + a dust storm ) and drives AZ to NM.
AZ buyers close still scheduled for XX/XX/XXXX. MI purchase still closing XX/XX/XXXX.
XXXX XX/XX/XXXX : Maid service cleans AZ house so its ready for buyers to move in.
XXXX AZ time, Sprout Mortgage is still working on docs. AZ buyers close pushed to XX/XX/XXXX. MI purchase still closing XX/XX/XXXX.
My husband drives 22 hours, sleeps 90min in a parking lot, then continues driving to make it to MI on time.
Fri XX/XX/XXXX : Sprout Mortgage requesting more docs from AZ buyers, including docs theyd already sent over before, and silly info like credit card address.
XXXX : My husband signs docs for MI house purchase. Waiting on funding ( from AZ sale ).
XXXX : Sprout Mortgage needs MORE docs from AZ buyers.
XXXX : Sprout Mortgage still messing around. Closing pushed to Tues XX/XX/XXXX.
Tues XX/XX/XXXX : Sprout Mortgage requesting more docs from buyers.
XXXX : Underwriter at Sprout gives clear to close. Closing pushed to Weds XX/XX/XXXX.
Weds XX/XX/XXXX : XXXX : Sprout has a company wide meeting & shuts down.
|
| 08/01/2022 |
No |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
Servicemember |
|
In XXXX of XXXX I initiated a FHA cash out refinance of my primary residence with Sprout Mortgage. My credit was good enough that I was approved by the automatic underwriting system, but without my knowledge and consent they put it through manual underwriting in order to meet a minimum quote required by the FHA.
I was informed after the fact even though this choice delayed my closing by 2-3 weeks. Finally, the file was through underwriting and about to close when Sprout Mortgage abruptly shut down their company and laid off their entire workforce.
This caused me to have to find a new lender and because they had delayed the process, my credit had to be hard pulled a second time. This dropped my credit score by 30 points due to 2 hard pulls.
The new lender was almost done with underwriting my refinance, but the appraiser is stating that the FHA will not allow the transfer of my appraisal ( which I paid for ) because Sprout ( the original lender ) will not confirm the transfer ( because they are shut down ). The appraiser is citing the FHA guidelines as the reason for not transferring, but the FHA guidelines does not account for a lender going out of business.
It is wrong that I am now being asked to pay for a 2nd appraisal due to Sprout Mortgage 's negligence and the FHA not accounting for this unusual circumstance.
|
| 08/05/2022 |
No |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
My complaint is with XXXX XXXX, the owner of Sprout Mortgage. The CFPB needs to do everything in it's power to prevent this man from running or being involved in the mortgage business ever again. I have been a wholesale mortgage account executive for over twenty years and have never been involved in anything close to what XXXX just put his employees through. XXXX had the president of the company hold a conference call on XX/XX/2022 to announce the company was closing it's doors effective immediately. Payday was on XX/XX/2022 and XXXX chose to not pay the employees. Then the following week XXXX, or his representatives, contacted our health insurance carrier and canceled our insurance policies RETROACTIVELY to XX/XX/2022. So essentially took our money for health insurance and provided no insurance for XXXX and XXXX.
Please make sure this man never works in our industry again. Dedicated, professionals work hard on a daily basis to provide quality service to the public and this man has no place among us.
|
| 07/21/2022 |
No |
- Mortgage
- Conventional home mortgage
|
|
|
Web |
|
|
On XX/XX/XXXX, Sprout Mortgage closed their doors without any notification. There were at least 40 lender wires that were supposed to be distributed to title companies to complete the closing process. This way title can continue to record the new mortgage. This did not happen. On XX/XX/XXXX, we had 18 wires that also did not go out as well. This happened every month starting in XX/XX/XXXX.
CEO, did a cashout refinance on 3 of his properties, and on that same day, we had wires not go out, to allow his funds to be released. This cause quite few transactions to go out of compliance. The CEO had not paid any employees since XX/XX/XXXX, and on XXXX, the federal reserve shutdown the wire lines to Sprout Mortgage leading multiple transactions open at the funding stage. Multiple purchase transactions on hold due to the lender wire not being received.
The CEO has done this before, in XXXX with XXXX XXXX Mortgage, and should not be allowed to do this again,.
|
| 08/08/2022 |
No |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
My Name is XXXX XXXX, I am a XXXX XXXX XXXX I have authorization from my client XXXX XXXX to submit the complaint. In XXXX I originated a purchase money loan for them with a company called XXXX XXXX. XXXX XXXX announced they were going out of business XX/XX/XXXX and abruptly shut down. The clients first payment was due in XXXX and we have received no correspondence from anyone regarding the mortgage or payment. At the time the loan was originated we set up an auto pay, the first payment was to be deducted on XX/XX/XXXX and it has not. We have a temporary payment coupon that was provided with the loan docs and we will use that to send in a payment but we are unsure if it will get processed.
|
| 12/02/2022 |
No |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
I closed on a home purchase with Sprout Mortgage LLC on XX/XX/2022. My first mortgage payment of {$3000.00} was due on XX/XX/2022 which I paid to Sprout Mortgage on time ( XXXX ID # XXXX ). At this same XX/XX/XXXX time period, Sprout Mortgage LLC transferred my mortgage loan to XXXX XXXXXXXX XXXX.
I have exhausted all possible methods of trying to reach out to Sprout Mortgage until finally they responded via customer service email. Sprout Mortgage customer service confirmed that they found my first mortgage payment on XX/XX/2022 and promised to resolve the issue.
They have not resolved the issue & all customer service emails are now saying " not delivered '' Please assist
|
| 03/08/2023 |
No |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
|
| 02/28/2023 |
No |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
|
| 07/21/2022 |
No |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
|
| 07/18/2022 |
No |
- Mortgage
- Conventional home mortgage
|
|
|
Web |
|
|
|