Product: Mortgage

XXXX ) XX/XX/2020 We discussed the loan rate and locking in the rate ( and credit ) with my originator. XXXX XXXX Loan Originator NMLS ID # XXXX After running the credit report, He gave me the rate via phone and text and I provided the deposit of {$500.00} on the agreement that he proceed with the refinancing. He said he would send the locked rate loan estimate sheet. But I didn't get it until 4 weeks with multiple attempts to follow up with him in between ... even after discussing the issue with the company customer service department. I also asked if I can NOT have appraisal report since we just bought the house a couple months ago. Loan originator said we won't have another appraisal ( I have copy of text ). After I got a word with locking in rate and no appraisal, I gave him {$500.00} deposit. 

But couple days later, the appraisal company contacted me that they need to schedule for appraisal. I then contacted the originator, and it was only then he said it's not his decision, it's the loan company XXXX XXXX policy to have appraisal. This was a blatant lie, his first, which is documented by text message. If the originator had been either knowledgable or truthful the first time, I wouldn't have to use this company in the first place because my original loan company would have waived appraisal. This cost us a great deal of time and money, not to mention the stress of an outright lack of communication and responsiveness. 

2 ) I was very diligent about following up ( all documented ) on a nearly daily basis, to get updates on our locked rate loan estimate sheet but never heard from the originator for long periods of time. Occasionally, if rarely, did he respond but only via text message and always avoiding the direct question regarding the locked rate. After the ( unneeded ) appraisal was completed, I promptly provided all documents they needed. The appraisal came back a little short and, once again, I asked XXXX to send me the locked rate loan estimate sheet and still no answer until end of XXXX! At this point it had nearly been a month having started the loan process on XX/XX/XXXX. Also it was then that he chose to mention that he supposedly could not match the rate they offered in the first place. 

However, this was another large failure on his part as I had updated the file with the correct house estimate - the house was appraised and purchased just 4 months prior! XXXX initially valued of the house higher to promote a better rate and receive a deposit, dodging any semblance of basic customer service along the way only to offer a higher rate later in the process. This lack of transparency is clearly intentional and blatant and a traditional tactic of charlatans. 

3 ) Even after all of this, we decided it's a sunk cost and chose to take the higher rate and move forward. However, in the middle of the transaction of closing documents with the processor, discovered that a different title company is handling our case than the one we originally requested ( this is documented and signed ) -- not surprisingly, this title company is affiliated with Amerisave ... clearly another lie. Even though we had a signed document requesting our title company, Amerisave tried to leverage this situation to threaten that we CAN NOT close on time and the rate would expire and it's my decision 's make. This is not only a dirty business tactic but a violation of consumer law ( RESPA Real Estate Settlement Procedure Act ).

4. Having felt leveraged and out of options, we still decided to proceed and continued to provide documentation again and again as clearly there was no coherent customer process. After an long period of time I contacted the processor yet again to check on the status - this is when she informed me that my loan is rejected due to loan-debt ratio which would have been discovered first place. and still no word from the originator for the updates.