Consumer complaint received 2019-10-09
Company: Supreme Lending
State: TX
Product: Mortgage
Sub-product: FHA mortgage
Issue: Closing on a mortgage

Complaint:
On XX/XX/2019 XXXX XXXX approached my by cell phone wishing to purchase a home. He said he was pre qualified through XXXX XXXX at Supreme Lending for up to {$170000.00}. I told XXXX XXXX that he needed to provide me with a pre approval letter from XXXX XXXX at Supreme lending to me and then we could get started looking at houses. He presented me a pre approval letter from XXXX XXXX indicating that XXXX XXXX was approved for a FHA loan with 3.5 % down payment. I followed up with XXXX XXXX and asked how much seller participation did XXXX XXXX need in order to " zero '' out of thier pocket outside of the down payment required ; he said {$5500.00}. 

On XX/XX/XXXX we entered into a purchase agreement on a property ay XXXX XXXX XXXX XXXX XXXX, TX. The owners of the property were XXXX XXXX, XXXX, and XXXX XXXX. The XXXXXXXX XXXX had representation by an agent XXXX XXXX of XXXX XXXX XXXX XXXX XXXX, TX. XXXX XXXX had indicated to me that he needed at least 30 days to get the loan closed. We set a closing date in the purchase agreement to " on or before XX/XX/XXXX ''. This closing date was well beyond what XXXX XXXX indicated to me time needed to close the loan. 

On Friday XX/XX/XXXX around XXXX I received a call from XXXX XXXX that he needed another week to get the XXXX XXXX closed. This was the business day before closing was to take place. I felt that the timing of this couldnt have been any worse, as there was practically no time for the buyers and seller to change their working schedules to fit the closing date set by XXXX XXXX. 

Nevertheless, all parties agreed to extend another week to accommodate XXXX XXXX extension of time. 

On XX/XX/XXXX ( a week later ) XXXX XXXX said he needed another extension filed, because XXXX XXXX needed more cash to close and had to verify some deposits made by XXXX XXXX back in XX/XX/2019. This put the buyer and seller in another ( XXXX delay ) quandary. The buyers at this point had already arranged moving van, movers, utilites, etc. The seller, had expenses to take care of and were greatly dependent on the proceeds of the home closing and funding. 
On this date there was a closing disclosure issured by XXXX XXXX of Supreme lending and emailed to all parites involved stating that XXXX XXXX 's " cash to close amount " would be {$9900.00}. This was a shock to me and XXXX XXXX, as we thought the only amount he would have to bring to closing would be is down payment because of the seller participation of {$5500.00} in buyer closing costs. 

I asked XXXX XXXX if he had ever delt with lender before, and how he obtained this lender. He said he got hooked up with them online. I also asked if the lender had ever provided him a XXXX XXXX XXXX XXXX XXXX XXXX indicating thier fees and closing costs, and what to expect for them to bring " cash to close ''. He said he had never received anything like that from XXXX XXXX XXXX or Supreme Lending. 

Mind you the Sellers, have already moved out, and the buyers are paying {$100.00} per day hold over rent ... ..There was something each day that XXXX XXXX ( the underwriter ) would require of XXXX XXXX. Items that should have been addressed well before the " XXXX hour '' of this file closing ''. 

From approx XX/XX/XXXX to XX/XX/XXXX, the XXXX, buyers agent, and sellers, agent, and XXXX XXXX XXXX the escrow officer for XXXX XXXX the closing company ) were told by Supreme Lending that they finally had all documents completed and could close the following day. When approached daily by myself and XXXX, and XXXX XXXX, XXXX, or XXXX would tell us that there was XXXX more item needed to close, and they repeated them-self on and on until XX/XX/XXXX. 

On XX/XX/XXXX they said that they needed XXXX XXXX to take a test issued by Texas Department of Housing and Community Affairs, and get a certificate for a grant from the government for closing assistance. He took this test. This would bring XXXX XXXX cash to close amount down to {$2600.00}. Then Supreme lending told him upon completion of this test and obtaining the certificate they could close the file on Monday. The file ended up closing on Tuesday XX/XX/2019 since there was scheduling conflicts with the closing company for the day before. 

So from contract date to closing date was XX/XX/2019 to XX/XX/2019 a 57 day close! Unacceptable. 

I have emails with the incorrect cash to close amounts and all the correspondence between the parities involve. 

As an added bonus there are numerous records that Supreme Lending XXXX XXXX and XXXX XXXX had been contacted by XXXX at the closing company, myself, and not to mention XXXX XXXX, with no response or call back. Their customer service is horrible. 

Upon Closing and funding, the XXXX wrote a negative review on a survey provided by XXXX at supreme lending. XXXX follows up with me the next day with a bribe of a " referral ''.

Company response to consumer: Closed with explanation