Consumer complaint received 2019-11-19
Company: Iconic Mortgage Corp.
State: NM
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
I received an ad in my mailbox with the company Iconic Mortgage ( ID XXXX ) stating that they could help refinancing a home at a low interest rate sometime in XX/XX/2019. I called and spoke to XXXX XXXX ( XXXX ID XXXX ) and he went over what was needed to begin the process for refinancing. I stated to him that I was interested but was skeptical as I have trust issues especially with any companies as I have been taken advantage of before. He assured me that he would help me and to " trust him '' to get this done. So I did. I submitted all the paperwork needed. As time went on and paperwork submitted, I had someone go to my home, I signed documents and had them notarized some time in XXXX ( I believe ). I corresponded by email or on the phone with XXXX and his assistant XXXX XXXX. I sent all documents they asked for, check stubs, tax returns, etc., and also had my home appraised. I signed paperwork and was sent to a company XXXX XXXX XXXX XXXX XXXX XXXX XXXX. XXXX told me NOT to pay the XXXX and XXXX mortgage payments on my home and to stop the auto payments as well, so I did. On or about the last week in XXXX he called and told me that they had to push the closing date back and I had to make the XXXX payment after all. I was panicked as I didn't have the money. I had paid other bills. He asked me to tell XXXX XXXX to state that I paid it on time although I made the late payment. I paid on or about XX/XX/XXXX. They did wave the late fee but reported it late to the credit bureau. On the week we were supposed to close, XXXX called and told me the loan didn't go through because of the late payment issue and just like that he said sorry and that there was nothing he could do now. I was devastated because I did everything specifically as he told me to do. He kept saying, " yes I know '' and kept apologizing but that did not make me feel any better. I trusted him because he assured me that this loan would go through. Now I'm late two months and will be three come XXXX, I had never been late on my home payments. My credit score has dropped significantly and I can't catch up on my mortgage payments. In the ten years I was paying my mortgage I wasn't late. I tried to refinance with XXXX XXXX but because my credit score dropped after Iconic Mortgage they couldn't help me. I don't know what to do. I have mounting bills, I " trusted '' XXXX as he told me to and he basically slammed the door in my face. Saying " I'm sorry '' will not pay my bills, bring my credit back nor help me in any way fix the damage he has done. I trusted someone I never should have believed in after he kept reassuring me that this would go through and to trust him. I believe this company is crooked and should not be taking advantage of those who are hard working single parents trying to make ends meet. Now, I don't know what to do and may end up losing my home all because I chose to go with a company that advertised that they could help me. I would like to see if there is anything I can do as far as at least getting compensation to pay my past due mortgage payments since he told me NOT to pay them in the first place. He should have been sure before telling me not to. But he kept reassuring me this would go through. I have emails between me, XXXX and XXXX. Please let me know if there is anything that can be done. Thank you. I don't want this happening to someone else.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation