Consumer complaint received 2018-07-18
Company: PulteGroup, Inc.
State: AZ
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
As part of my recent agreement to purchase a Pulte home, an incentive is offered to their buyers to assist with closing costs if they use their mortgage company, Pulte Mortgage, in the purchase of the new home. After working with Loan Consultant XXXX XXXX with Pulte Mortgage on XX/XX/2018 in attempt to receive this incentive, I did not initially receive options regarding the different programs and loan types that were available to me. I decided to shop around for various rates and options when I learned about same loan programs that may be available to me that was not originally disclosed by Pulte Mortgage. Once I learned of some other programs and options, I went back to XXXX XXXX with Pulte Mortgage to inquire if I had the same options available to me. While some options and programs were told to be available to me, I asked to see what the mortgage would look like with these programs and options available. NOTE* During this time, there was never a valid change in circumstance that took place. I also did not request for my loan to be changed ; I only requested to see what the cost differences would be. 

While XXXX XXXX was " running '' the numbers for me, I received a total 5 different new Loan Estimates on XX/XX/2018 ( all attached ) along with full disclosures, again without any valid change of circumstance at any time. The next day, on XX/XX/2018, at XXXX XXXX, I responded to XXXX XXXX with the Loan Estimate using the Home in 5 program and a {$0.00} mortgage insurance quote that I wanted to proceed with, well within the 10 day window to show intent to proceed with the loan terms. ( *NOTE I also provided emailed intent to proceed with the Loan Estimate in question two other times on XX/XX/18 and XX/XX/18 all attached ) While the particular Loan Estimate and all the associated disclosures were received, XXXX XXXX and Pulte Mortgage came back to me to say that they will not offer the provided Loan Estimate due to an error they made by not including Mortgage Insurance which is a non-negotiable term. After many attempts to get the provided Loan Estimate with {$0.00} mortgage insurance to be honored by Pulte Mortage, I received many excuses and non-definite answers regarding their refusal to honor the estimate. After speaking with XXXX XXXX, VP XXXX XXXX, and Customer XXXX XXXX XXXX all from Pulte Mortgage, I was told by all three individuals that " the requested program can not be offered without mortgage insurance. '' *NOTE I never asked them to provide any terms or programs that weren't offered by their company or that we're legally acceptable, all I asked of Pulte was for them to honor the provided Loan Estimate. XXXX XXXX XXXX also stated to me over a phone call that Pulte can change the Loan Estimate if there was no malicious intent. I must say that given the circumstances and after I shared with PultXXXX that I had shopped around for rates and programs with other lenders, there is really no way to prove that Pulte Mortgage was not malicious in their attempts to keep my business. Even so, this does not provide a valid legal reason for them not to honor the Loan Estimate in question. After requesting a written legal reason from Pulte Mortgage as to why they will not honor the estimate in question, I received a written signed statement from XXXX XXXX ( attached ) which, although explained the whole situation, never answered the question why they legally are not obligated to the Loan Estimate that I have requested multiple times to proceed with. The statement also implies that they can change the estimate as long as its done " within the hour. '' This statement does however confirm that they made a mistake, yet Pulte has done nothing to rectify the mistake other than send more Loan Estimates. 

During this entire process, and after many emails and phone calls, Pulte Mortgage still has yet to agree to honor the desired estimate and has not been able to give me a straight answer as to why that will not honor the estimate other than " We can not offer that program without MI. '' *NOTE While all the estimates provided to me that day are attached, I noticed that each estimate shares the same identifying number which is both concerning and alarming to me as there truly is no way to hold Pulte Mortgage accountable to their provided Loan Estimates. Each estimate when provided, should be able to be identified from a similar provided estimate by proper identify numbers. This could make it very easy to confuse and trick borrowers if they were to make changes to the loan.

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