| 01/27/2023 |
Yes |
- Mortgage
- Other type of mortgage
|
|
|
Web |
Servicemember |
|
XXXX XXXX ( Article 1, 1b & c ) : I emailed our loan officer XXXX XXXX to inquire about closing early on our Home to Home ( bridge to conventional ) loan, including a link detailing 3 available options. The link as of writing this, the link to the presentation still worked. I have included screenshots as well ( Article 1 b & c ).
Friday XX/XX/XXXX ( Article 2 ) : Me, my husband XXXX and XXXX email back and forth about proceeding with option 3 of XXXX presentation. Option 3 is 6.6 % blended rate, paying off XXXX in debt and zero points. XXXX confirms the origination fee will be less on the final disclosures. We also confirm that we will pay off a XXXX debt ( in actuality it was down to XXXX since XXXX when XXXX last checked ), per XXXX direction so that we could move forward with option XXXX. XXXX confirms we are on it.
Thursday XXXX XXXX ( Article XXXX & XXXX, XXXX ) : This is the first we have any communication with XXXX since asking him to proceed ; he sends us disclosures ( Article XXXX ) with significantly different numbers from what we had previously discussed. A 7.125 % rate, origination fee remained the same, and purchasing {$710.00} in points. We do not sign them, because we did not agree to this higher rate, or to paying points. The rate lock agreement is on page one. The disclosures also show that our rate was not locked until Thursday, XX/XX/XXXX, despite XXXX telling XXXX to proceed on XX/XX/XXXX. We acknowledge the market was closed by that time on the XXXX and the XXXX was a federal holiday.
We go back and forth over several days ( Article 3b ) asking for clarification and accurate disclosures that reflect numbers XXXX gives us over email. XXXX again references changing the origination fee and other figures that will potentially be different on future disclosures ( Article 3c, a text exchange with XXXX ). We clearly state that we XXXX wait to close early if the rates have gone up this much since his presentation. We do not realize that the higher rate was actually locked by XXXX, without consulting us, on XX/XX/XXXX until XX/XX/XXXX.
We were neither notified nor agreed to this higher interest rate. I send both XXXX and XXXX XXXX ( the branch manager ) a copy of the Texas Administrative Code explaining they did not have the authority to lock us into a higher rate without a rate lock agreement in place. This higher rate also increases our monthly payment by roughly {$250.00} per month, for the life of the loan.
XXXX and XXXX response is to offer a {$3000.00} lender credit and the promise of refinancing at a later date. This credit will not even cover the increase in interest we are now locked in to without our approval ; approximately {$3000.00} per year, for the life of the loan ; 30 years.
XXXX XXXX ( Article 4, 5 & 6 ) : Apologies if some of the emails are repeats ; these chains were very long. Article 4 : I email XXXX directly asking her to review all disclosures and emails sent between us and XXXX. Based on XXXX unlawful act of locking our rate, I request they figure out how to undo this act or buy down the rate to what XXXX originally presented us with. She suggests a phone call on XX/XX/XXXX at XXXX ; we have a pleasant conversation where she acknowledges XXXX should have notified us about the increased rate before acting. She says she will send us what she can offer regarding closing early so we can discuss later that same day.
Article XXXX : XXXX emails us basically what XXXX sent the previous night. She offers the lender credit and options for us to either buy down the rate or refinance, and explains how we can break even within 4 months.
Article 6 Screenshot 1 & 2 : I have a tense text exchange with XXXX expressing frustration about her not buying down the rate, us spending XXXX in liquidity to pay down a debt at XXXX direction for a much worse deal, and a couple other ongoing discrepancies we keep finding in the disclosures. We were presented a deal that we were excited to move forward with only to have the terms drastically change, without consent or being given the option to choose ; as is our legal right. She references a presentation given XX/XX/XXXX, completely ignoring that I have repeatedly asked her to check XXXX email for the presentation on XX/XX/XXXX. XXXX was updating this presentation in real time, while we were on the phone with him that same day.
XX/XX/XXXX ( Article 7 & 8, 8b ) : Both XXXX and XXXX make it clear they will not be buying down the rate. We are locked into a rate we did not agree to, and we have now lost 10 days to this back and forth. We are accruing roughly {$200.00} interest daily. We realize that we have no choice but to proceed with this loan as is without us costing even more money. We also receive a disclosure document for the second lien. We text XXXX and XXXX ( Article 8 ) with questions about closing costs and because the document indicate buying points for {$5700.00}. This is also the first we hear that we will not have the option to pay off the loan without a penalty. This should have been disclosed to us before we got close to this point. We also get an email from XXXX ( Article 8b ).
XX/XX/XXXX ( Article XXXX ) : I reach out to the regional manager via phone at XXXX XXXX office. XXXX called me back and I give her a detailed account up to this point. She is sympathetic and says she will investigate and get back to me. I encourage her to comb through XXXX email correspondence. I explain we really just want to move forward as quickly as possible, because these delays are costing us money.
XXXX called me to discuss options. I was immediately frustrated because the numbers she was quoting me were again all of the place, and she was now quoting us higher closing costs than we had. I remind her again that we paid off XXXX in liquidity at XXXX direction for the rates that he baited us with to move forward. She texts me again, ( Article XXXX ) and I express that this is all very confusing and ask for accurate numbers ; this has changed every day.
XX/XX/XXXX ( Article 10 & 11, 11b & 12 ) : We receive an email from XXXX and XXXX is ccd ( Article 10 ). This email basically states that the only option we have is to move forward with the sale of our home first we have been denied by underwriting. I email back more questions, and letting them know I will be filing complaints and consulting our attorney. XXXX speaks to XXXX over the phone asking to quantify why we were denied by underwriting, she says she doesnt know and will submit a request. Because XXXX previously emailed us that some of the figures were incorrect on the disclosures, we have no idea what she fixed or what actually went back to underwriting. We need to know why we were denied so we can have a goal to achieve to safe guard ourselves in the event our home doesnt sell in time.
XXXX tries to recall her message after I sent mine, she says she was trying to update it ; we do not receive an update. ( Article 11 & 11b ).
Article 12 : XXXX texts XXXX and XXXX asking for the second lien denial paperwork.
Conclusion : XXXX presented us with three paths forward, complete with detailed interest rates. We agreed to a specific option. He proceeded with the rate lock ( which also charged us points without our consent ) without verbal consent or written approval as is required by Texas Administrative Code ; completely changing the terms and agreement. After 15 days of us paying off a loan and countless back and forth we were told we could not proceed after all. When we originally spoke to XXXX before even qualifying for this product, we explicitly asked what the path forward was should we choose to close before we sold our home, and he quoted this option. We would have never entered into this agreement without a solid plan B. We feel this has been a violation of the UDAAP, Regulation X and Z, and a bait and switch.
We have been mislead and presented with incorrect or false figures to entice us to proceed. Because this situation is ongoing, I do not know what the financial cost to us will be. We are currently being charged {$5900.00} interest only payments until we are able to sell our house, with a ballon payment due on XX/XX/XXXX for the entirety of the loan. We are also consulting with our realtor about having to reduce the price of our home significantly below market value so we can attempt to sell our home much quicker than we were led to believe.
|
| 10/08/2020 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
To Whom It May Concern : Please advise that this is a formal complaint against Thrive Mortgage- specifically the XXXX XXXX, SC office .
I previously used Loan Officer XXXX XXXX to originate my mortgage and based on the great work that she did I reached out on XX/XX/XXXX, in regards to refinancing my mortgage. The refinance process through Thrive Mortgage has been an utter disaster with horrible service by multiple parties. As of this date ( XX/XX/XXXX ), my refinance still has not closed.
Before providing details and documentation below I am requesting the following : Cease the refinancing process with Thrive Mortgage An investigation into the Thrive Mortgage loan process ( Origination, processing, closing, etc ) so that other consumers do not go through the same process that I did Refund of all fees and services paid throughout the process Removal of all credit inquiries immediately At a minimum, be paid the difference in interest rates from what I was quoted at Thrive and a new loan closing rate as rates may have changed after this 3-month process.
Details : On XX/XX/XXXX XXXX and I had our initial conversation where I expressed my interest in refinancing my mortgage. At this point, I literally asked for your opinion on if I should wait until I started my new job at XXXX. I also disclosed that it would be less base but more bonus. You asked me when it would start and I said it would be the end of XXXX. You told me I should do the refinance sooner rather than later because rates were so low.
On XX/XX/XXXX I called and let you know that I was ready to move forward. We ran numbers on the phone and you let me know that I would have to do another FHA due to the debt ratio. I asked if this was based on the salary I gave you for the new job and if so I could decline the offer. You told me that it was based on the current one. On XX/XX/XXXX, XXXX confirmed through email that my debt ratio was too high based on our previous conversation.
XX/XX/XXXX appraisal completed with horrible service ( Copy of email below ).
Good Afternoon, I wanted to give you all an update that the appraisal appointment was just completed. I know that it is water under the bridge now but should we get another loan through Thrive in the future or for any other clients, please use anyone except XXXX Appraisal.
Please see the below notes from the interaction with my wife : - They came with no masks on and it had to be requested that they put one on before entering our home with our XXXXyear-old daughter. More frustrating is the individual who didn't have one on was coughing and sneezing - no gloves - The representative would ask a question then start walking off on my response. Super rude.
- My daughter had to use the restroom and the representative came up the steps after he said he was done up there.
- The man in change never got back out the car to say anything or acknowledge me The interaction was completely unprofessional, uncomfortable, and absolutely not a respresentation of the great service I've received from Thrive Mortgage throughout this process.
I received initial approval on XX/XX/XXXX. On XX/XX/XXXX I received an email asking me to explain new inquiries on my report ( There were none and the reply is below ) The auto loan was done in XXXX ; I'm not sure why it showing for this month as it's the same loan from the Credit Inquiries report. The 2 credit cards are also the same ones from the Credit Inquiry report from XXXX and don't have balances on them. Also, I'm not sure if this matters but the old XXXX XXXX has been listed as a total loss and is being paid off by XXXX. I have attached the letter.
I heard nothing back until I proactively reached out on XX/XX/XXXX requesting an update. At this point, I was informed that my file went back to underwriting based on the previous information that I provided documentation to show that it was inaccurate.
XX/XX/XXXX per request I provided more paystubs for " final approval ''.
XXXX XXXX the next time I heard anything in regards to my loan and now per email, I needed to have a call with Credit Plus that day in order to verify XXXX balance accounts. I didn't get a call until the XXXX.
XXXX XXXX received clear-to-close email XXXX XXXX after not hearing anything for almost another week, I again had to proactively reach out for an update. I was told that the earliest that I could close is XX/XX/XXXX and confirmed the date with the attorney. Had I not reached out on my own ( again ) it seems that I may have never gotten the closing disclosures.
I received and signed the closing disclosures which also confirmed what I was told in that there would be cash to me at closing.
XXXX XXXX the closing attorney had to reach out due to not receiving the closing disclosures.
Friday, XX/XX/XXXX at XXXX XXXX I received an email that not only would there not be cash received at closing but I needed to bring {$1300.00} to pay for Monday 's closing.
XX/XX/XXXX at XXXX XXXX I closed on the loan at the attorney 's office.
XX/XX/XXXX at XXXX XXXX I received an email stating that my employment information couldn't be verified.
I replied that I had started the new job and that I disclosed this before we even began the process and asked if I should apply before or after I started.
Response : I need the information regarding your new job. This has been such a long process that we never could have guessed it would be. I really thought we would have closed prior to your new start date.
I'm happy to forward this correspondence XXXX XXXX I am now filing this official complaint at having to provide even more documentation on a loan that I signed for, with information that I was completely upfront on, and after having to pull teeth to get updates throughout this entire 3-month process.
In less than a week I have had to pay {$1300.00} for closing that was disclosed to me 1 business day before while also having to pay my existing mortgage payment after being told that I wouldn't have to.
I am completely embarrassed that I didn't stop this loan process when the first reg flags occurred and can not believe that companies are treating customers this way. For 3 months I continued in good faith throughout this process even after it became apparent that Thrive Mortgage didn't want or need my business. Furthermore, through this process Thrive and its employees have shown that they only care about money and not the actual people whose most important asset they are hired to help with. As a result of this negligence, misrepresentation, and honestly- fraud, I now have to start the refinance process over while costing myself potentially thousands of dollars due to payments to vendors throughout the process, changing interest rates, and the impact the credit pulls have had on my credit. Because of this, I am seeking the aforementioned remedies. I will also be filing this complaint with the appropriate regulatory agencies.
|
| 01/18/2022 |
No |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
I received a letter on XX/XX/XXXX from Thrive Mortgage dated XX/XX/XXXX requesting that I contact my homeowner 's insurance provider ( XXXX XXXX ) and request a refund for the principal paid for the current year 's coverage. This refund was requested from Thrive because they informed me that they had made a {$940.00} payment to XXXX insurance for coverage on my property. This payment to XXXX was made in error. I have never had any association with XXXX insurance and never requested this change to my homeowner 's insurance policy. On XX/XX/XXXX, I called Thrive Mortgage to explain the situation to a representative in their insurance department. The representative understood the situation, changed my account 's insurance policy back to the ( correct ) original policy, but informed me the payment will remain on my escrow account until a refund from XXXX was received. She assured me this would be taken care of within 10-15 days. On XX/XX/XXXX, my escrow analysis was uploaded by Thrive Mortgage. The {$940.00} payment made on XX/XX/XXXX to XXXX was shown on this escrow analysis. This erroneous payment will cause a ~10 % increase in our mortgage payment starting XX/XX/XXXX. On XX/XX/XXXX, I called Thrive Mortgage again because the 10-15 days had passed and the issue had not been taken care of. I again told another representative from the insurance department the situation. She again initiated the process of requesting a refund from XXXX insurance, assuring me that the refund should be processed within 14 business days and that the payment could not be removed from my escrow analysis until the refund is processed. On XX/XX/XXXX, I sent an email to the Customer Care department explaining the situation as well as detailing the timeline of the previous two phone calls. I did not receive a response to this email, so on XX/XX/XXXX, I called Thrive Mortgage to verify the receiving of this email. The representative was unable to find the email, so instead, I verbally explained the situation to her. She transferred me to a supervisor who assured me the complaint would be " expedited '' and taken care of by XX/XX/XXXX.
As you can see, I have made multiple efforts over the last ~45 days to explain to Thrive Mortgage that I have never had any association with XXXX insurance and the payment made on XX/XX/XXXX from my escrow account was made in error. I understand Thrive Mortgage 's pursuit of a refund for an erroneous payment, but I do not understand why the threat of a higher escrow payment has remained on my account during this process since I have no responsibility for the error. Thrive Mortgage 's unwillingness to remove this burden from my account has caused my partner and I considerable harm due the XXXX caused by the upcoming higher mortgage payments.
|
| 10/30/2020 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
We applied for a Land and construction loan through thrive mortgage XXXX loan amount. XXXX acres of land and XXXXsf new build. We were suggested to use an FHA loan. the process dragged on for 4 months. 4 days before closing, they told us they would not do the loan and gave several reasons. Each legitimate reason they gave was known on day 1 of the process. Because of the 4 month delay, Thrive mortgage caused us to loose our land deal. The sellers backed out and would not extend the land contract any longer. The sellers had already extended the contract 4 times.
After the explanation from thrive on why they denied the loan, it was clear that they knew all of the reasons on day one and wasted four months when they could have told us that it would not work on the first day. Back up Emails and correspondence are available
|
| 11/22/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
|
|
Web |
|
|
We entered into a construction loan On XX/XX/XXXX. The term of the loan was for 12 months in which we had to close into permanent conventional loan. We began the process to close on our permanent loan in XXXX. All of our obligations were met, but the company will not give a payoff for our loan to close because the builder is refusing to take his final draw on the account. The builder has been deceitful in his practice and through no fault of ours. We have been paying interest @ 7 % on a construction loan that will expire and be in default XX/XX/XXXX. We are more than capable of paying off this loan either through money wire transfer or through a conventional loan. By Thrive mortgage refusing to give us payoff they are forcing us into default.
|
| 05/08/2023 |
Yes |
- Mortgage
- Other type of mortgage
|
|
|
Web |
|
|
The company offers those program where you get approved for an interest only loan to purchase a new home, then they turn around - usually within a few months and do a refinance to a conventional loan. I was in a bind and feel the broker took advantage of the situation left an enormous amount of details out. Essentially, I had to pay an exorbitant amount of fees, multiple closing costs, 2 mortgages at once and none of this was disclosed and the beginning or near the end. When this was discovered they offered little to no explanation. In retrospect this practice seems predatory and deceptive. Again, I feel if they informed me of the terms before the process started, I would declined using them.
|
| 08/28/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
|
|
Web |
|
|
My Closing was rescheduled from XX/XX/XXXX, to take place this afternoon at XXXX XXXX CST on the purchase of my home. I reached out to Thrive Mortgage, who is the Lender for this transaction, and requested a copy of my Final Closing Disclosure so that I know how much funds I'm required to bring to Closing. I've requested this information since yesterday and I followed up this morning, XX/XX/XXXX, and they have not responded. Per TRID regulations, they are required to disclose any changes made to the loan within 3 days and they have not done so.
|
| 01/25/2024 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
- Trying to communicate with the company to fix an issue with the application process
|
|
Web |
|
|
|
| 11/01/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
- Trying to communicate with the company to fix an issue with the application process
|
|
Web |
|
|
|
| 01/20/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
|
| 08/27/2022 |
Yes |
|
|
|
Web |
|
|
|
| 03/28/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Referral |
|
|
|
| 03/14/2022 |
Yes |
|
|
|
Web |
|
|
|
| 06/07/2021 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Improper use of your report
- Credit inquiries on your report that you don't recognize
|
|
Web |
|
|
|
| 09/03/2020 |
Yes |
- Mortgage
- Other type of mortgage
|
|
|
Phone |
|
|
|
| 08/10/2020 |
Yes |
|
|
|
Web |
|
|
|
| 03/30/2020 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Phone |
|
|
|