Consumer complaint received 2023-02-08
Company: PARAMOUNT RESIDENTIAL MORTGAGE GROUP
State: OR
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
Company Involved : Paramount Residential Mortgage Group, XXXX. 
XXXX XXXX We were sent to XXXX XXXX for financing on our new home in XXXX. 

We started talking to XXXX and he was wonderful to work with. Everything was going smoothly, he reassured us that our debt to income was great and we discussed that paying our car off would be a bad idea due to wanting to trade it in and XXXX said that using a lump sum of money to pay off a big object would be " stupid '' when we could invest with it instead. We discussed the down-payment being low and that there wouldn't be an issue with anything that all would go smoothly. 
The next XXXX  times we talked he said we did not have to do anything to be approved but that we would have to move our closing date which was not an issue. We understand things happen. We closed on our house that we sold in XXXX  and I called the escrow company in XXXX  to wire the down-payment so it was there and ready when it was time to close. At that time XXXX said closing would be {$49000.00}, which he shot VERY high and said that would be worse case scenario. 
The week before closing our realtor called us and asked if we had signed a CD. This document estimates closing costs, interest rates, and so fourth. I called XXXX, XXXX, and XXXX that day. Nobody answered their phone. I then emailed and texted them, again no answer. I waited, I was nervous that we were falling behind on the timeline. At this time we are currently in a XXXX trailer, separated from our children trying to get into our home in XXXX. 
Eventually I get a text from XXXX that says she is sending over the CD. I looked at it and the numbers were WAY off. it was {$67000.00}. and all of the other numbers were way off as well, I texted XXXX and told her I didn't feel comfortable signing it due to the numbers. She reassured me that it was just acknowledgment of paperwork so we could keep moving forward. The following day XXXX said our debt to income is bad and we needed to pay the car or credit card off. I told her XXXX said our debt to income was fine and that we didn't need to pay the car off. So instead I paid the credit card off. From then on things kept getting worse and more! 
We were in XXXX  that weekend cleaning up some ties, packing the rest of our home, and getting everything ready to move. I called XXXX again and again. At this time I was scared, frustrated, and was being ignored. Nothing was adding up, the numbers were far off, and there was no communication. 
XXXX called and said there were issues and that we needed to pay the car off, at this time we didn't have the money to pay it off, we have {$49000.00} in escrow as well as {$4000.00} in earnest money. We were confused on why numbers went from great to not, we did not gain anymore debt, we did everything right. We paid everything on time, followed all P 's and Q 's. 
That evening XXXX calls and said that he figured it out and we don't have to pay the car off and that he was not sure what happened. I said " Perfect '' he said " not exactly '' I said " What would make it perfect '' He said " If I didn't tell you I could finance you '' I was blown away and said sorry you feel that way and hung up. 
I then called my realtor and let her know what he said, I felt that at this point it was too late to change who was financing us after everything. 
That weekend XXXX was supposed to send over the CD so we could sign on Monday. He knew for a month we were signing on Monday and that everything needed to be correct and ready. He sent us the CD and it did not have the car on it, so we signed it and everything looked correct. He said that the car was not on there and we saw that, he told us that he bought down the interest rate for us and that it was for him saying sorry. 
The escrow officer did not get the CD until XXXX on Sunday. The escrow office called to make the appointment for Monday, I asked her if there was a car on there that needed to be paid off and told her the amount. She said no, everything balanced out and you will get {$20000.00} back. The next morning we go into the escrow office and she comes in says she has bad news. She tells me late last night she received a second CD that she had to balance last minute and that it had the car on it. I lose it. She then says that it does not say we needed to pay it off that it was just on there and that it didn't say it needed paid off and that she was going to double check. She didn't see any reason it needed paid off and had never seen anything like this before or have it happen to her. She said they did not send a pay off letter or anything stating it needed paid off. 
We signed paperwork and left. She said once she got it figured out she would call because we had to pick up a check regardless. 
She called later and said that XXXX sent her an email asking to have a voided check sent to him with the car loan bank info on it and proof that we were going to pay it off. 
At this time we have the checks and our mortgage has recorded but I do not feel comfortable paying the car off due to everything that had currently happened and that there is no need to do so. This is not just about the car being paid off. 
What he did is slimy. Nobody should be lied to and then have to come up with money at the escrow signing that they are not aware about. This is our livelihood. We are human. 

I would like you to get ahold of my realtor and also the escrow officer. They have email strings that have lies in them about what went on as well. 
I would hate someone else to be blindfolded like we were. 

XXXX would have copies of different disclosures she received, I also attached a couple I had Realtor : XXXX XXXX Escrow Officer : XXXX XXXX at XXXX XXXX

Company response to consumer: Closed with explanation