Consumer complaint received 2021-08-13
Company: NATIONS LENDING CORPORATION
State: MD
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
My husband and I sold our home and used the proceeds to purchase our new home. Prior to our closing date which was originally set for XX/XX/XXXX, and the closing for our old was set for XX/XX/XXXX, we requested a 2-day extension for the solar panel information can be completely transferred to the new owner. The processor extended our closing date to XX/XX/XXXX when we only needed two days! but was pushed back due to buyer purchasing our home. The next scheduled closing date was set for Tuesday, XX/XX/XXXX, but when our file was submitted back to underwriting our loan was randomly selected for a quality control audit, which was never explained to us by the processor. We didnt find out about the audit until close of business on Friday ( XX/XX/XXXX ) afternoon. Our loan officer advised us we shouldve been notified of this audit by the processor as soon as this took place. Throughout the whole entire process the processor made me, my husband, my realtor, my loan officer and title attorney very uncomfortable with her smart, rude vague remarks. She never explained anything thoroughly nor did she reach out to my realtor to introduce herself. 
My realtor sent another extension for XX/XX/XXXX. In between this time, there was an email exchange between my realtor, the seller, and the underwriter about why the closing disclosure has not been sent thus far. On XX/XX/XXXX at XXXX XXXX, the processor sends an email to the title company, my realtor, the selling agent, and my loan officer stating It is my understanding the loan was moved to XX/XX/XXXX. My realtor then replies back on the same day at XXXX You said that it was your understanding that settlement was moved to XX/XX/XXXX who did you hear that from? Because myself nor the listing agent did not have that conversation about XX/XX/XXXX. Closing was scheduled for Friday XX/XX/XXXX. Is that why my client whos been very cooperative was subject to a random audit? With the most respect, now that you are aware that time is of the essence in regards to closing. Can you please, pretty please prioritize this? I understand there was a miscommunication from somewhere, but this is urgent. At XXXX XXXX, the processor replies to all I apologize for this mis-communication. The Closing Disclosure needs to be acknowledged today to close on Thursday. We are waiting on final approval now. I was told by XXXX  that the closing was moved to next Friday on XX/XX/XXXX. At XXXX, my realtor replies to all Ok! Please let me know when you send the Closing Disclosures to be acknowledged today and i will make sure that the buyers do so ASAP. At XXXX, the processor replies to all It is still my understanding that the XXXX  can not close on their sale until Friday so the purchase can not close until Friday. At XXXX XXXX  my realtor replies to all including the processor Again XXXX i am the selling agent and i am telling you that they can close. The only thing standing between them and closing is the closing disclosure. Literally the only thing. 
On XX/XX/XXXX at XXXX XXXX  my realtor replies to all, Good morning XXXX, I got a notification last night that the loan was approved. Can you please send what is needed? At XXXX XXXX, the processor replies to all What are you referring to? At XXXX XXXX  my realtor replies to all with a screenshot showing in the portal we used to keep up with the documents that my husband and I loan was approved. At XXXX XXXX  the processor replies to all Sorry, I meant- what are you referring to that is needed? At XXXX XXXX  my realtor replies to all, Can title get the CD this morning? At XXXX XXXX   the processor replies to all, Yes, Once the closer can get to it. At XXXX my realtor replies to all, With this file being so behind and the mis-communication I dont think this is a When situation, I think this is a everyone prioritizing and making sure the closer sees this. Because even after i stated yesterday that my client is ready to close, I feel you refuse to help to make this happen until You want it to. Is there some Bias? Im not understanding and Im really starting to feel bad and uncomfortable with how my clients are being treated. Please CC your superior ( s ) on this email, as mine have been since yesterday. At XXXX aXXXX the processor replies to all The CD has been sent to XXXX and XXXX. Closer will balance with them as soon as possible. 
On XXXX at XXXX XXXX  my realtor replies to all Good morning XXXX, Do you know if well have a CTC today? On XXXX at XXXX XXXX, the selling agent replies to all Good morning, I hope this email finds everyone well. I am sending another email concerning closing for the XXXX XXXX XXXX property. The first closing date was scheduled for XX/XX/XXXX, the correspondence from the loan company ( XXXX ) stated the CD would be delivered but was not. Closing was then rescheduled for XX/XX/XXXX but did not happen due to miscommunication of closing dates, acknowledged and stated in an email by Ms. XXXX ( processor ) on XX/XX/XXXX. The miscommunication and lack of communication in this transaction is baffling. I am disappointed in how this transaction has been handled thus far and would like someone to provide me with a clear understanding as to when the CD will be delivered to the title company for the new closing date of XX/XX/XXXX. Please be advised that if the CD is not issued and closing does not occur on XX/XX/XXXX, I will have no choice but to terminate the agreement and relist the property. Please Reply to All when responding. At XXXX XXXX  my realtor replied to all, Replying to add XXXX XXXX ( XXXX XXXX XXXX XXXX broker ) to this thread. And I agree! I am baffled at how this transaction is being handled and the lack of urgency on the Lenders part. At XXXX XXXX  my realtor sent another email replying to all It was nice speaking with you XXXX, To update everyone, per my conversation with XXXX earlier today. The file has been CTC for 24 hrs now and settlement will continue on Monday morning. Nations Lending is working on some final details and will have the final CD out this afternoon or latest tomorrow morning. 
During this whole process, my husband and I was storing majority of our belongings in a XXXX truck, we had to make arrangements with XXXX  to rent out the same truck for another 2 weeks for almost {$500.00}. Plus rent another XXXX truck to move the rest of our belongings into a storage unit we had to get due to the closing being extended 3 times. We finally closed on our home on Monday, XX/XX/XXXX and the processor reached out to my realtor threatening to hold the funds if we didn't provide the closing disclosure for the previous sale. 
On XX/XX/XXXX at XXXX the processor replies to all and CCd myself and my husband Good Afternoon All, We need the final executed CD on the sale of the XXXX previous home. Can someone help with this please? Once again on the XXXX at XXXX XXXX  the processor sends out another email Good Afternoon, The signed closing disclosure on the home you sold is needed as soon as possible. Please send to me. Title Company can not disburse the funds needed for your new home until we have this. If we do not have this our funds can be recalled and the loan not fund and not record in your name. 

This process has been a living nightmare for all of us, we originally told our loan officer that we would like to put down {$60000.00} then our buyer requested a {$10000.00} seller credit so we had to bring the down payment to {$50000.00}. During the process they wrongfully terminated our loan officer and they refused to change our down payment to {$50000.00}. After going back and forth they came up with {$52000.00} and claimed that they couldn't change it to {$50000.00} when {$52000.00} is not was we requested. 
Before our loan officer was wrongfully terminated, she told my husband and I that she will ask for a lender 's credit for the {$2700.00} we told her that having a smaller payment was very important to us so she recommended us to pay our mortgage insurance premium upfront ( added to our loan ) and that is what she requested. After she told the company, we got our closing disclosure not only was our down payment incorrect, our loan amount was incorrect as well. We requested to have our mortgage insurance premium paid upfront and again they failed to do so. On XX/XX/XXXX our loan officer text me and indicated she had a metting with her supervisor at XXXX to discuss with him our case and to ask for the lender 's credit. At approximately at XXXX, she text me back and said she just got fired, she said that when she asked for a lender 's credit on our behalf, her boss told her " no, we will not do that for you, we did that for you yesterday ''. Four hours before our closing time we was told our mortgage is going to go up {$200.00} more than what we agreed upon with our loan officer. Now my husband and I are stuck paying a mortgage payment that we never agreed upon. 

Also to add, the closing disclosure we signed under duress so that we would not be homeless is not the same closing disclosure that we have in our packet from closing.The disclosure that is attached is the signed disclosure from my husband and myself showing a down payment of {$52000.00}. The disclosure that's in our packet it's a down payment of {$50000.00}. 

Processor-XXXX XXXX ( Nations Lending Company ) Realtor-XXXX XXXX ( XXXX XXXX ) Loan Officer-XXXX XXXX ( Nations Lending Company ) Seller & Listing Agent-XXXX  XXXX ( XXXX XXXX ) Attorney-XXXX  XXXX XXXX. ( XXXXXXXX XXXX XXXX )

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with monetary relief