Consumer complaint received 2020-08-20
Company: Freedom Mortgage Company
State: UT
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
We submitted a refinance on our home with Freedom Mortgage at the time the bank was called XXXX XXXX XXXX ; the loan funded in XX/XX/2020. Rates continued to decline. I contacted then Freedom Mortgage on XX/XX/XXXX and requested to refinance again. The agent I spoke with, named XXXX XXXX, stated we could do a XX/XX/XXXX. He stated it required less documentation, no appraisal, no income verification and would process quickly. He provided a list of documents I needed to provide. We provided ALL the documentation to him timely within days of contacting him. He requested additional documents within a week and we submitted those immediately. I knew what to provide because I worked in lending for over 20 years. On XXXX XXXX, 2020 the rate was locked in at 3.125 % which was set to expire on XX/XX/XXXX. I continually contacted his processor, named XXXX XXXX, most likely the loan officer 's wife, for status and updates. I was constantly getting an " out of office response '' even if I emailed first thing in the morning. 
At one point, the loan processor, XXXX, emailed me that the loan was at title because it needed to be subordinated. There was no heloc and I explained that there should be no need to subordinate ... XXXX this was a XX/XX/XXXX. She continued to ignore or make excuses for delays, if she in fact, responded at all. 
I called Freedom Mortgage corporate and finally was able to obtain the name of XXXX XXXX, mortgage lending manager, whom I emailed on or about XX/XX/2020 ; I also copied the CEO of  Freedom Mortgage, XXXX XXXX, explaining that this XXXX XXXX has taken over 3 months ( we are not at FIVE MONTH since we initiated the streamline refinance ). I was contacted finally by XXXX XXXX, who stated that the loan processor is no longer working the file and it was turned over to XXXX XXXX. At my request Freedom lowered  the rate to XXXX XXXX. I signed that lock agreement on XX/XX/2020 because that was when it was sent. Although it was dated XX/XX/XXXX the lock expired on XX/XX/2020. Freedom stated I did not need to be concerned that the locks were expiring. On XX/XX/XXXX I was charged an additional {$200.00} for an inspector fee because now the loan had taken so long an earthquake occurred outside of the county and they needed to do a home inspection! This lowered the amount of funds I was getting back, yet Freedom stated it was paid by the lender. We continue to receive more conditions because the loan has dragged on so long. They exceeded the 90 day credit report timeline, so we had another credit report charge and another hard hit to our credit scores. Every time they request a condition, we provide it immediately!, We sign all change of circumstance documents immediately through their portal. I continue to email and copy all on my requests for status updates. At this writing, I am now waiting for the " FINAL CONDITION '' to be approved. I sent them an email today and called XXXX XXXXXXXX XXXX for a timeline for receipt of documents. I have not received a response at this writing. I do not want to incur ANY FURTHER CHARGES or provide any further conditions as a result of their constant delays. Of course, circumstances will change over the course of FIVE months!!! There has been no reason for them to delay this financing for this length of time. I currently work with the government as a lender and worked in the industry for 20 years. I know that this is not an acceptable for any refinance especially not a STREMLINE REFINANCE, when they were the servicing lender. 
XXXX XXXX and XXXX XXXX are about to charge an additional {$1400.00} for a refinance beginning XX/XX/2020. This loan should fund prior to that date! There is no reason that we should be also charged this fee or have it be reflected in the rate if the loan does not fund prior to XX/XX/2020. 
Freedom Mortgage has put us in jeopardy of refinancing with any other lender due to their failure to keep us apprised of status, lack of communication and continuous delays with documentation and title and finally, their second hard hit to credit because of the excess of time their delays have caused. 

I am attaching key documents that show timeline of application and sequence of loan estimates provided dating from XX/XX/2020 to  XX/XX/2020 and finally the most recent email I received showing that this loan is still not completed. NOTE she once again states it is in " final approval. '' I have additional documents and emails I can provide if necessary if my server saves emails beginning XX/XX/2020. 

Respectfully, 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 explanation