Consumer complaint received 2023-08-29
Company: TRIAD FINANCIAL SERVICES, INC.
State: MI
Product: Mortgage
Sub-product: Manufactured home loan
Issue: Trouble during payment process
Sub-issue: Trying to communicate with the company to fix an issue while managing or servicing your loan

Complaint:
We bought a modular home and had to take out a loan that would start as an interest only construction loan and then be converted to a conventional mortgage. When the building was finally complete, I was sent a document to sign to have the remainder of the balance on the home paid to the manufacturer. However, the amount was not correct, it was more than it should have been. The loan officer argued with me, gave me false numbers as to the price of the home. Also, we did not use all of the money in construction portion of the loan and the loan officer wanted me to sign it all over to the home manufacturer. He gave me a hard time when I asked to see what money had been paid out and to whom it was paid, though he begrudgingly sent it. I looked over my purchase agreement with the manufacturer and my loan agreement and ran the numbers. They did not match what he was telling me. I had to send a copy of my math before he would reevaluate the situation. In the end, the loan officer did end up fixing the situation. But I feel like he was trying to take advantage of me. He didn't even have the correct amounts of how much the home cost. This all took place over a few days of emails ( I have all of the emails ). I was told by XXXX, the loan officer, via email XX/XX/2023, that I owed the home manufacturer {$45000.00}, that the cost of the home was {$110000.00} and that {$69000.00} was paid to them already. This, however, was not true. I don't know where he got those numbers. The grand total for the just the home itself ( what was owed to the manufacturer ) was {$110000.00}, I made a down payment directly to the manufacturer of {$10000.00}, only {$100000.00} was financed through the loan company. After a lot of back and forth and him finally looking into it, it was discovered that the manufacturer was only owed {$34000.00} the remaining {$9000.00} was what was leftover in the construction portion of the loan. The {$9000.00} was mine and according to XXXX would be taken off the principal of the of mortgage. Once that was finally dealt with, I was told I had to sign paperwork to change the loan over to a traditional mortgage, the money had not yet been taken off the principal. I was told it had be switched over first. I signed it. Then I had to argue with a new loan officer, who was now in charge of the mortgage, and speak with a manager ( this was all done via email, of which I have copies ). It was in the end finally taken off the principal and everything was righted. I just feel like they were trying to take advantage of me and scam me out of money. If I hadn't stood up for myself and asked questions I would have been out {$9000.00}. It was far too much arguing and back and forth for it just to have been a simple mistake. It should have been one email from me saying this isn't correct. Not several emails of questions and me having to do the math myself to prove it was incorrect.

Company response to consumer: Closed with explanation