Consumer complaint received 2017-08-10
Company: Home Point Financial Corporation
State: IL
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
XX/XX/XXXX Recorded incorrect SSN for co-signer and relayed this to LO. LO said he would let his team know. XX/XX/XXXX - LO stated we 'd be able to close Monday or Tuesday ( XX/XX/XXXX or XX/XX/XXXX ) if they received the title from sellers attorney. XX/XX/XXXX LO said they need more title documents from the XXXX 's attorney. XX/XX/XXXX said we now wouldnt be able to close by XX/XX/XXXX due to not receiving documents. This is contrary to our last response and multiple phone calls saying they have everything they need but title. XX/XX/XXXX We missed this closing date even with countless affirmations that this date would be hit. The delays were never with getting the lender information but always communication back from the lender and late requests. XX/XX/XXXX Received closing disclosure but it was sent incomplete. They did not send Closing Disclosure for my father to sign. We caught this error and the processor said they would have to send it the following day but confirmed that if my dad signed it the following day then we could still close by Monday XX/XX/XXXX XX/XX/XXXX XXXX CST- Requested 4 additional documents needed before closing scheduled on next business day. XX/XX/XXXX 2 hours before closing - Processor said they needed me to pull my father 's XXXX transcripts on irs.gov. After attempting to meet their requests by setting up an online account we confirmed that we would not be able to get transcripts for 5-10 business days. 1.5 hours to closing - I called the Processor to let him know I could not obtain the transcripts today and verify this was truly required for closing. He let me know since the SSN was entered incorrectly on the XXXX a few weeks prior, the transcript request failed. This was infuriating since we let our LO know 2 weeks prior that the SSN was incorrect and asked specifically if an updated one needed to be sent. 1 hour before closing - The lawyers on both sides of the transaction and the title company are not confident we can get the transcript sent from the IRS same day and due to not receiving the package yet. This is sent 21 min before closing and contains 3 errors my lawyer found within 10 minutes of review. The other parties ( lawyers and title company ) opted to reschedule the closing for the day after tomorrow after coming to agreement that the lender we are using is grossly incompetent. After contacting the IRS via the number the processor provided I was given the same 5-10 day lead time to receive the transcript. I called the Processor to relay this information but he did not answer, address my message, or return my call. EOB - After a few hours with no response I follow-up with an email stating how unprofessional this was and if it is truly necessary to hold up closing. The processor responds that now he will ask mgmt. if it is necessary. Throughout this debacle the processor never apologizes or shows any empathy. By the afternoon of XX/XX/XXXX there is still no response from a manager. The new closing date, XXXX on XX/XX/XXXX, needed to be cancelled again even though the processor agreed to the date on XX/XX/XXXX. With these delays, our rate lock expired ( on XX/XX/XXXX ) and according to the LO we would be charged $ XXXX/ day to extend this rate. We heard back from a manager on XX/XX/XXXX but he was unable to ensure we close without the transcripts. I requested compensation for the costs of my out of pocket costs ( the credit checks and appraisal ). He was not able to give me and answer and promised a call back the next day. As of XX/XX/XXXX we have not heard back and given our experience with this company I doubt well receive one. We have been forced to go with another option to close or else risk additional costs, loss of wages for additional closing dates, and the deal falling through.

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