Consumer complaint received 2023-11-05
Company: PLANET HOME LENDING, LLC
State: NY
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage
Sub-issue: Changes in loan terms during or after closing

Complaint:
Dear Sir/Madam, XX/XX/XXXX I am a XXXX public school teacher. XXXX XXXX XXXX XXXX originated a conventional loan for {>= $1,000,000} to buy my primary house located at XXXX XXXX XXXX XXXX, XXXX, XXXX, and the loan was closed on XX/XX/XXXX. XXXX XXXX who is the father of the owner of XXXX XXXX XXXX XXXX worked as my loan XXXX. He also worked as my broker on behalf of me to get {$48000.00} Home Equity line of Credit against the house from XXXX XXXX XXXX XXXX as a XXXX mortgage. Just after closing the loan The XXXX XXXX XXXX XXXX sold my loan to XXXX XXXX  and the loan stayed with XXXX XXXX until XX/XX/XXXX. It is mentionable that XXXX XXXX XXXX XXXX bought back my loan on XX/XX/XXXX ( almost XXXX and half year later ) from XXXX  XXXX, and sold again to Planet Home Lending , LLC on the same date ( XX/XX/XXXX ). It is also mentionable that neither XXXX XXXX  nor anybody else forced XXXX XXXX XXXX XXXX to buy the loan that was once sold to XXXX  XXXX  by XXXX XXXX XXXX XXXX. It is also mentionable that Planet Home Lending , LLC used to work as loan servicer from XX/XX/XXXX to XX/XX/XXXX for my loan on behalf XXXX XXXX before buying it from The XXXX XXXX XXXX XXXX Now Planet own the loan and also works as a servicer. It is also mentionable that Planet Home Lending offered me a Loan Modification by keeping the original interest as it is ( 3.125 % ) with 40 years ( original 30 years ) extension on behalf of XXXX XXXX  after my XXXX year forbearance over which I had to take due to pandemic. Planet denied my XXXX agreement and raised interest rate to 4.8 % and brought the loans terms back to 30 years again ( original ) after Planet buying the loan although I satisfied the TPP agreement ( Please see attachment. It is also listed under Complain # XXXX with the CFPB ). After I submitted complaint about TPP agreement denial by Planet Home Lending , LLC to your organization ( CFPB ) on XX/XX/XXXX, Planet compelled to implement TPP agreement on XX/XX/XXXX ( Please, see the attached documents regarding TPP agreement implementation ). It is mentionable that if there was a flaw in my loan, XXXX would have claimed that during the TPP agreement denial time actually there is no flaws at all in my loan. Besides this, if my loan contained any flaws, The XXXX XXXX XXXX would have never bought it back again from the XXXX XXXX after selling the loan to XXXX XXXX. In addition to that, it was confirmed that my loan is absolutely flawless by XXXX XXXX officials numerous times. I spoke to XXXX XXXX official named XXXX XXXX ( Name might be misspelling ) at approximately XXXX pm on XX/XX/XXXX after receiving the summons on XX/XX/XXXX. According to XXXX XXXX XXXX loan came to us ( XXXX XXXX ) on XX/XX/XXXX and left on XX/XX/XXXX and there is nothing wrong in your loan. I also spoke to another XXXX XXXX official named XXXX XXXX ( XXXX might be misspelling ) at approximately XXXX on XX/XX/XXXX. According to XXXX XXXX, There is no report against your loan with the XXXX XXXX, and currently XXXX XXXX does not have your loan. So you should speak to the party who currently hold your loan. After I finished my conversation with XXXX XXXX I called Planet Home Lending , LLC and talked to a Planet official named XXXX XXXX ( Name might be misspelling ) at approximately XXXX on XX/XX/XXXX and asked her whether there is any report regarding my loan or not. According to XXXX XXXX, XXXX does not have any report against your loan, if you need anything about your loan contact XXXX XXXX office. Then I called again Fannie Mae the next day ( XX/XX/XXXX ) at approximately XXXX am and spoke to another Fannie Mae official named XXXX XXXX ( Name may me misspelling ). According to XXXX XXXX, There is nothing wrong with your loan it is a usual process we ( XXXX XXXX ) buy the loan and sell the loan. We sold your loan that does not mean your loan was defective rather it is a normal process. Since my loan is absolutely flaws XXXX XXXX XXXX XXXX sold it to XXXX XXXX and bought it back from XXXX XXXX and resold the loan to Planet Home Lending , LLC. It is my own understanding that The Planet Home Lending , LLC reviewed my loan thoroughly, and it bought the loan when it became XXXX XXXX percent certain that there is no defect with loan. Both Planet Home Lending , LLC and XXXX XXXX XXXX XXXX tried together by involving in process of buying and selling with the ill intention to dishonor the XXXX agreement and raise interest rate to 4.875 % and bring the loans terms back into 30 years. But with your organizations ( CFPB ) sincere role they failed to fulfill their ill intention for the 1st attempt. On XX/XX/XXXX, I received a summon from the court, and according to summon both The Planet Home Lending , LLC and XXXX XXXX XXXX XXXX were trying again to take away my home for the second attempt by suing me at the supreme court, NY and claiming that that a flaw was detected by XXXX XXXX in my loan. According to the case, The Planet Home Lending , LLC sued XXXX XXXX XXXX XXXX for the flawed loan selling, and XXXX XXXX XXXX XXXX sued me for the same reason. As I mentioned before my loan is absolutely flawless and it is also confirmed by XXXX XXXX multiple times. I am current with my loan and I am never late in my loan except forbearance due to pandemic ( Please, see the resolved complaint # XXXX which I filed with the CFPB on XX/XX/XXXX for details ). 

In these circumstances, I hope that you would be kind enough to speak to both XXXX XXXX XXXX XXXX and Planet Home Lending , LLC so that XXXX XXXX XXXX drops the case against me so that I could stay at my home with my children and wife. I am looking forward to hearing from you soon. 

Sincerely XX/XX/XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX

Company response to consumer: Closed with explanation