Product: Mortgage

XXXX XXXX XXXX XXXX XXXX XXXX XXXX, WA XXXX XXXX / XXXX XXXX Date : XX/XX/XXXX Washington Department of Financial Institutions ( DFI ) Consumer Services Division XXXX XXXX XXXX XXXX XXXX, WA XXXX Consumer Financial Protection Bureau ( CFPB ) XXXX XXXX XXXX XXXX, IA XXXXXXXX Veristone XXXX XXXX XXXXXXXX XXXX XXXX, XXXX XXXX XXXX, WA XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, WA XXXX Dear XXXX and CFPB, I am writing to formally file a complaint regarding what I believe are deceptive and predatory lending practices facilitated by XXXX XXXX and involving Veristone as the lender. The actions taken during my refinance process not only misled me but also caused significant financial harm. This letter outlines the facts of my experience and requests immediate investigation and action. 

In XX/XX/XXXX, I approached XXXX XXXX, referred to me by a real estate agent, to refinance my home. At the time I believe, my mortgage balance was approximately {$110000.00}. My goal was to secure a cash-out refinance to help stabilize my financial situation as advised to me by XXXX XXXX XXXX Unfortunately, what transpired was a series of unethical actions that left me financially burdened, confused, and at a balance of around $ XXXX than double my original mortgage. 

Here are my issues : Deceptive Statements and Instructions : XXXX XXXX stated that the only refinancing option available to me was through a private party or high-interest loan lender. She advised that this was the only way the refinance could be done. 

She instructed me to verbally and in writing declare that I was not living at the house, which was untrue. I want to clarify that XXXX XXXX XXXX, XXXX, WA XXXX, is and has always been my primary residence. This misrepresentation was a requirement she imposed for loan approval. 

I was asked to sign a document falsely stating I resided elsewhere, which made me extremely uncomfortable. 

Lack of Communication and Transparency : Throughout the process, XXXX kept me uninformed about critical details, timelines, and the lenders identity. 

After finalizing the refinance, I received no statements, communications, or clear instructions regarding payments.

Approximately five months ago, I received my first letter regarding the loan, at which point I still had no understanding of the loans terms or who the lender was. Upon reviewing my documents, I discovered that Veristone was the lender. 

Unethical and Misleading Behavior : Despite my attempts to contact XXXX XXXX for clarification, she deflected my concerns and repeatedly suggested pulling my credit for another refinance without addressing my existing loan. 

XXXX misled me into believing she was the primary point of contact for my loan. I later learned this was untrue. 

I was unaware that my loan had a maturity date of XX/XX/XXXX. XXXX assured me during the process that we would refinance before the maturity date and that everything would be fine. 

Unexplained Loan Disbursement : The final settlement statement indicates that {$150000.00} was disbursed, but I have no knowledge of why or where these funds went. This discrepancy has left me in severe financial distress and without clarity. 

Unresponsive Lender : I attempted multiple times to contact Veristone, including requests to speak with supervisors or owners, but my calls were never returned. This lack of communication has exacerbated my confusion and desperation. 

Request for Action I am requesting an urgent investigation into the practices of XXXX XXXX and Veristone. Specifically, I would like answers to the following : Why was I instructed to falsify my residency status as part of the loan application process? 

Why was there no communication or transparency about the loan terms, lender, or payment process? 

How was the {$150000.00} in loan disbursement allocated, and why was my mortgage balance increased by over {$100000.00} without explanation?

Why have my attempts to contact Veristone been ignored?

The actions described above not only reflect unethical and potentially illegal practices but also highlight a blatant disregard for consumer protection laws. I believe these actions violate both Washington State laws and federal regulations under the jurisdiction of the CFPB. 

What I am seeking Full review and audit of my refinance transaction to determine the legality of the process and disbursement of funds.

Immediate correction of any fraudulent or deceptive practices, including adjustments to my loan balance if deemed appropriate. 

Disciplinary action against XXXX XXXX and Veristone for any confirmed violations.

Clear communication regarding my rights and options as a consumer to rectify this situation. 

Please do not hesitate to contact me if further information or clarification is needed. 

Thank you for your immediate attention to this matter. I trust that both the XXXX  XXXX and CFPB will act fast. This home is my primary residence and has always been my primary residence. I have no understanding why nobody is communicating with me, yet, my house is up for auction. This can not be right. 

Sincerely, XXXX XXXX XXXX XXXX XXXX XXXX XXXX, WA XXXX XXXX / XXXX XXXX