Product: Mortgage

Dear Sir/Madam, I am writing to file a formal complaint against XXXX XXXX from Fairway Independent Mortgage Corporation regarding unethical conduct and mismanagement of my mortgage application process. I believe that the actions of XXXX XXXX has led to significant financial stress and difficulties for me, and I am seeking your assistance in addressing this matter. 

I engaged with XXXX XXXX on XX/XX/XXXX to assist me with obtaining a mortgage loan for the purchase of XXXX XXXX XXXX XXXX IL XXXX. Throughout the application process, I relied on XXXX XXXX expertise and guidance to select the most suitable loan product for my needs. However, it has become apparent that he steered me towards a conventional primary residence loan instead of an investment loan in order to secure my business with an attractive lower cost and interest rate. He persuaded me that this was feasible, and so I chose him as my lender. While I understood that I could occupy this property as my primary residence, I was not aware of how strict and unyielding these rules are at the time of this ill-informed decision. 

This misclassification has resulted in numerous challenges for me, including difficulties in securing other financial products and credit due to the property 's primary occupancy status. While trying to honor these loan obligations, I faced other problems moving into the unit because I inherited distressed tenants from the previous owner and had to pursue eviction proceedings for 2 of these tenants for not paying rent and refusing to leave the premises. 

If I had been properly advised to get an investment loan, I wouldnt have to move into the unit and could more easily recover financially from these losses by renting all the units out. So in addition to inheriting non-paying tenants, I also had to move into the unit as soon as possible which was extremely stressful and challenging from a legal perspective. 

In hindsight, I believe XXXX XXXX failed to conduct basic care in my application process. I have been struggling to explain to creditors and lenders why I reportedly have two primary residences. I already owned another property prior to XXXX XXXX XXXX, that was designated as my primary residence prior to this second purchase. I should have been informed by XXXX XXXX that I absolutely need to wait a year to apply for another loan and to fulfill my first propertys primary residence requirement. 

However, XXXX XXXX indicated that he was certain he was able to help me secure my primary residence loan on XXXX XXXX XXXX at a much more attractive interest rate and lower mortgage payment. As a result, I was guided to make another property as my primary residence without fully understanding the severity and long term negative impacts of the mortgage clause that prohibits this to the extent that I will be seen as a higher mortgage lending risk anytime I ever seek to purchase another property again. 

Additionally, XXXX XXXX recommended purchasing mortgage points without adequately explaining the long-term ramifications of this decision. I now realize that I could have easily made extra principal payments instead of buying down the interest rate, which would have been a more financially prudent choice given my other liabilities. 

The cumulative effect of these actions has caused me significant distress and financial hardship. I feel trapped and confused about the circumstances surrounding my mortgage agreement, and I believe that XXXX XXXX acted in his/her own self-interest rather than prioritizing my best interests. He should have indicated clearly that I needed an investment loan, not a primary residence loan. 

I request that the Consumer Financial Protection Bureau conduct a thorough investigation into this matter and take appropriate action against XXXX XXXX and Fairway Independent Mortgage Corporation if any wrongdoing is found. Additionally, I seek assistance in documenting my experience and rectifying the errors made during the mortgage application process and mitigating the financial consequences of these actions. 

Thank you for your attention to this matter. I look forward to your prompt response and resolution of this issue. 

Sincerely, XXXX XXXX