Consumer complaint received 2021-09-03
Company: United Shore Financial Services, LLC
State: FL
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
Due to the facts described below we would like to file a formal complaint against XXXX XXXX personally and XXXX XXXX XXXXXXXX ( XXXX # XXXX ) as a company. 

On XX/XX/XXXX we signed a contract to purchase a home located at XXXX XXXX XXXX XXXX, XXXX Fl XXXX On XX/XX/XXXX we contacted XXXX XXXX to inquire about obtaining a mortgage loan On XX/XX/XXXX XXXX sent an email to outline the process and sent an estimate for us to sign for the loan On XX/XX/XXXX I contacted XXXX to get a second quote and received an offer that was far better than XXXX first offer On XX/XX/XXXX I contacted XXXX to inform him of the quote I received from XXXX On XX/XX/XXXX XXXX informed me through email and over the phone that he could meet or exceed their offer including the {$6000.00} XXXX XXXX credit On XX/XX/XXXX XXXX sent me the attached updated quote On XX/XX/XXXX I informed XXXX that even though his quote was {$500.00} higher I would still go with him On XX/XX/XXXX XXXX indicated that the appraisal for the property was ordered knowing the closing was on XX/XX/XXXX On XX/XX/XXXX XXXX gave me alternative quotes for me to pick from and lock in the terms of the mortgage On XX/XX/XXXX XXXX locked in my rate of 2.999 % with a {$15000.00} lender credit On XX/XX/XXXX XXXX informed me and the real estate agents that he was having trouble getting the appraisal completed After numerous phone calls and emails, it was discovered that when XXXX ordered the appraisal, he put down XX/XX/XXXX as the due date to receive it back. Email from buyer realtor attached. 
On XX/XX/XXXX we received the appraisal report XXXX continued to work on small questions that were brought up by the lender over the next two days. All questions he had for me were answered very quickly On XX/XX/XXXX XXXX indicated that we would have to wait 3 days after the CD was signed to close. Therefore, he made us change the closing date to the XXXX. If he knew it was going to take 3 days after the CD was signed to close, he should have told us that we needed to wait on the closing much sooner than the night before the closing. 
On XX/XX/XXXX I asked XXXX how that would affect my lock given that we had until the XXXX on the lock On XX/XX/XXXX XXXX informed me that he would get a one-day extension on the lock On XX/XX/XXXX at XXXX, the day before my closing, XXXX informed me XXXX he could not stick with the rate 2.999 % and the {$15000.00} lender credit. 
I immediately informed XXXX that not honoring what we agreed to was unacceptable. I told him I thought what he did was fraud. 
XXXX informed me that there was nothing he could do because the quote he gave me would not be allowed under the lending regulations. 
XXXX offered me a new quote with a 2.75 % rate and XXXX of lender credits. 
When I informed him that that was not acceptable, he told me that was all he could do. 
After a long conversation and him realizing how displeased I was, he indicated that he would go back to the lender the see what they could do and would get back to shortly. 
XXXX did not get back to me until about an hour before my closing to inform me that they would not do anything. 
At that point he gave me options that I could take. The only option that could be done from a logistical standpoint at that time was to take the loan he presented that had close to XXXX less in lender credits. A copy of the email he sent with the options is attached. 
Given that I am planning on paying this loan off within the next two years the rate was less of a factor for me picking the loan than was the lender credits. 
I strongly feel that XXXX committed fraud in his dealings with me. If my original loan was something that could not be honored due to lending regulations, how was it offered to me in the first place? How was able to lock in that rate and lender credit? 
When I spoke to XXXX, I suggested that given the situation he put me in, he should not charge me a fee. His comment back was that he would not work for free. However, given that his fraudulent actions cost me close to {$6000.00} I do not think he should have been paid close to {$1300.00}. 
I would strongly recommend that action is taking to suspend or revoke XXXX ability to act as a mortgage broker in the future and that he is given a substantial fine. I will also be contacting an attorney to pursue legal action if this matter is not resolved to my satisfaction.

Company response to consumer: Closed with explanation