Consumer complaint received 2022-05-24
Company: Security Mortgage Corporation
State: TX
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
A loan XXXX created a fake preapproval letter stating that a borrower was approved to purchase my home price at a list price of XXXX. A realtor used this fake mortgage approval letter and presented a " full price offer of XXXX ''. The realtor violated the purchase agreement by accepting a business check in the amount of {$7500.00} from someone else other than the borrower. The borrower did not own the business nor was he an employee. This was a direct violation of the purchase agreement. The loan XXXX paid the XXXX out of his personal XXXX account which is a direct violation of the federal lending laws. The XXXX devalued my home appraisal price and the buyer, loan XXXX and realtor changed the terms of the contract. The realtor inserted an appraisal clause to keep the borrower from exceeding the purchase price of XXXX. The XXXX returned a value of XXXX, the borrower refused to pay XXXX. The realtor, borrower, and loan XXXX then asked me to lower the purchase price. I refused. The realtor threatened to sue me for specific performance. The borrower has sued me, his attorney has filed a XXXX XXXX on my home, and they have asked I pay for the borrower 's attorney fees. These individuals all violated state and federal laws. They pretended that the borrower was qualified and he was never qualified. They changed the terms of the conditions of the agreement and I suffered significant financial losses due to their illegal activities. 

Since selling my home in XX/XX/XXXX, and moving to XXXX  in XXXX of last year as well. The borrowers XXXX presented my Realtor with a fraudulent mortgage loan pre approval letter that led me to believe the borrower was approved to purchase my property that was listed for sale at XXXX. As a result, the borrower was never approved to purchase my home and has since sued me in court to make me sell my home to him for XXXX while my home is valued at XXXX. The homes in my subdivision sell for XXXX and above. 

I terminated the contract due to the borrower breach of contract. I was sued by the borrower in XX/XX/XXXX and I had to retain counsel. My attorney had a 4 month discovery from XXXX XXXX XXXX XXXX, XXXX. 

Here are the Facts : Through subpoenas, depositions all the facts are verifiable below. 

XXXX. Borrowers Realtor presented a fraudulent preapproval letter on XX/XX/XXXX and used this letter as a misrepresentation of the borrowers ability to afford a mortgage loan for XXXX XXXX. Through discovery on XX/XX/XXXX the loan XXXX did not pull the borrowers credit, the credit report reflected that the borrowers credit was pulled on XX/XX/XXXX after I signed the purchase contract on XXXX - XXXX borrower and loan XXXX submitted a false mortgage application to XXXX with XXXX income, fake rental history, and unverified income and assets. 

XXXX. XXXX breached contract by failing contractually to provide XXXX ( XXXX terminated ) as outline in the PA XXXX XXXX. The borrower presented a business check to his realtor and she denied me the right to verify the appropriate XXXX. 

XXXX b. The business check submitted by XXXX XXXX has received XXXX loan {$4.00}. Borrowers loan XXXX paid for XXXX  appraisal out of his personal XXXX XXXX Account in the amount of $ XXXX ( violation of federal lending laws ) XXXX. XXXX has sworn testimony by the loan XXXX admitting to tendering payment. 



XXXX. XXXX provided a false report, by failing to accurately report the findings of my home. This resulted in XXXX loss XXXX. My home is XXXX sq foot, XXXX XXXX, XXXX garage according to the assessor 's office, the XXXX changed these figures and provided false testimony under oath XXXX. The XXXX conducted this service under the name of a dissolved business name in XXXX  ( XXXX XXXX XXXX ) XXXX. XXXX XXXX falsely inflated the borrowers income, assets on his mortgage application submitted to XXXX XXXX lender and testified on the deposition that he never verified the borrowers income/assets/. 

XXXX. The loan XXXX never verified any assets that he submitted to the XXXX regarding the borrower XXXX. XXXX XXXX is paid commission and only will be compensated if the loan closes. 

XXXX. The XXXX for the borrower inserted language in the contract that was meant ( deposition ) to protect the borrower from exceeding the price of XXXX if the home would of appraised above the XXXX XXXX. The borrower was denied a mortgage by the XXXX XXXX XXXX. The borrower sued me the seller demanding I sell my home to him for XXXX XXXX the borrower has lived in XXXX, XXXX  his entire life. He has a history of forecloses and walking away from homes ( on deposition of record ) XXXX. Through discovery and testimony of the loan XXXX, the loan XXXX was also the borrowers tax person and did his taxes in XXXX for tax year XXXX ( on record through the deposition ) XXXX. Through discovery the False XXXX that was shown was from a business account that the borrower did not own, and in fact the business was given XXXX loan money XXXX. The borrowers attorney put a XXXX XXXX on my home and I have been unable to sell my home XXXX. On XX/XX/XXXX, A judge ruled that I signed the contract so I have to sell my home to the borrower at XXXX

Company response to consumer: Closed with explanation