Consumer complaint received 2023-08-18
Company: FIRST AMERICAN FINANCIAL CORPORATION
State: FL
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
My closing date was scheduled for XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX I did receive the Closing Disclosure three days prior to the closing day. However, I noticed discrepancies between the last XXXX document, that I received on XX/XX/XXXX at XXXX. and the Closing Disclosure. I contacted First American Title, the title company, on XX/XX/XXXX as soon as I could to request the removal of the Owners insurance ( something that was not included in the Closing Disclosure ). Due to work commitments, I could only make this request after XXXX, but they were already closed for the day. I sent an email requesting prompt contact. 

On XX/XX/XXXX around XXXX, I spoke to a representative who mentioned that the responsible person was unavailable that day, promising to follow up after speaking with her. Unfortunately, there was no response that day. On XX/XX/XXXX, the closing day, XXXX XXXX, the individual responsible for my documents, informed me that it was too late to make changes. I expressed my efforts to reach out since the day I received the document and my frustration regarding the timing of her absence. She indicated that she would ask XXXX XXXX, my constructor, if they allow the change. Then she called me back saying that to be able to make that change they needed to move my closing day for the next day but at cost of {$500.00} penalty fee. 

Displeased with this arrangement, I contacted XXXX XXXX XXXX XXXX XXXX XXXX, who agreed to remove the Owners Insurance and conduct the closing on the same day, XX/XX/XXXX, to avoid the penalty. An updated XXXX document was received at XXXX, with my closing scheduled for XXXX. When the Owners insurance was removed, the Lenders Insurance increased significantly from {$400.00} to {$2000.00}, which I anticipated but found excessively high. Despite my objections, First American Title and related parties refused to adjust the amount. 

Despite seeking options, both XXXXXXXX XXXX and my lender were unable to intervene, as the title company held the responsibility. Under pressure, as I had limited alternatives and stood to lose my down payment of approximately {$25000.00}, I was compelled to proceed with the closing. At the closing, I was rushed through signing, presented only with the last page of the documents, and felt pressured to sign documents without a complete understanding. While the document figures didn't match the XXXX, I was assured they were accurate, and I was urged to sign. 

Additionally, I wasn't allowed to review the Lenders Insurance policy, and I was told to sign before viewing it, which was distressing. They said the Lenders Insurance was not for me ( but I was the one paying ) but for the Lender and only them would be provided with this policy after I pay and sign. 

This experience turned my dream of homeownership into a distressing ordeal. The lack of clarity and pressure to sign documents I couldn't fully comprehend was disheartening.

Company response to consumer: Closed with explanation