Consumer complaint received 2022-06-20
Company: CrossCountry Mortgage LLC
State: PA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
CrossCountry Mortgage, LLC XXXX XXXX XXXX, XXXX XXXX XXXX, OH XXXX Branch XXXX Company XXXX CrossCountry review The Winters team ( XXXX and XXXX XXXX at CrossCountry we're kind and helpful. The Loan Officer, XXXX XXXX was NOT. He was very curt and rude and would not take time to explain things or answer our questions. Instead, he would hurriedly spout off lender jargon that left us scurrying to XXXX for definitions. He threatened us that the seller would back out of the contract when we shopped around for lenders to compare Loan estimates. Then, he told us that a loan with zero points was not available. He quoted the current % rate at 5.75 and sold us 2 points which brought it down to 4.95? When we questioned his math, he said that the actual interest rate for that day was 6.95. When we lost all trust in him and were ready to go with another lender, he could, all of the sudden, deduct his {$990.00} Underwriting fees. We felt like we were contractually obligated because he pushed to lock in our rate and had expedited the Appraisal. So, we reluctantly stayed with him. 

The final Closing Disclosure, nor the XXXX, were provided to us in advance of the Closing. The first Closing Disclosure on Friday prior to the closing on Tuesday, did not reflect our Deposit. We had them correct that. Then, they had credited us for paying a a part of the Appraisal prior to closing. I was honest and had them correct that. Each time they corrected or changed the Closing Disclosure, we had to sign a form that stated what the correction was and how much. As instructed by our Realtor, I had contacted my bank to arrange the wire transfer for closing costs. My bank told me that they would need the exact amount and account to which the wire was going by XXXX  XXXX on Monday in order to ensure that the money would be there in time for the XXXX XXXX closing the following day. I shared this information with Cross Country. They said that we should have the final Closing Disclosure by close of business Friday evening. We did not. We heard nothing Monday morning. By XXXX I was getting nervous and emailed them reminding them that our bank needed to know by XXXX XXXXm. They said that they were working on it. Finally, our realtor instructed us to wire a rough estimate rounded up from the last Closing Disclosure stating that they would pay us back at closing if it was too much. Even though we had reservations, feeling as if we were giving them permission to go that high, we wired the funds. The Loan Officer emailed us and our realtor asking if the funds had been wired, and if so, how much. I responded, " Yes, but still have not received a final Closing Disclosure or clear to close. '' Our realtor disclosed the amount of the wire to the loan officer. 
We heard nothing Monday. We left early Tuesday morning for the final walkthrough with our realtor prior to closing. In desperation, I checked our Cross Country portal just before our realtor arrived for final walkthrough, and the final Closing Disclosure had been posted, but we had not been notified that it was posted. I quickly glanced at the total closing costs and was shocked to see that they had increased over {$900.00}. We had not been notified that it had been posted on our portal, nor, interestingly enough, did we receive a notice to sign a form acknowledging that we had been notified of the changes. 
Our realtor received the XXXX  Truth-in-lending statement the morning of closing and emailed it to us after we had left to come for closing. Unfortunately, we were unable to review the final Closing Disclosure or XXXX  prior to closing. When I tried to quickly compare to the previous disclosure, I asked if they could show me where the additional costs were incurred. The closing officer said it was due to the school tax rate not being released yet for the upcoming year and since the Cross Country corporate office and our Loan Officer were out of state, they had required 1.5 of a full year 's property taxes collected for escrow, but that we would probably get some refunded. No guarantee, and no idea when or how much the refund might be.

Later, when I was able to examine the Closing Disclosure and XXXX, I found that 2 months of Property taxes had been charged to escrow originally, and then XXXX months had been charged in the adjusted costs. Did Cross Country not realize that they were out of state when they quoted the taxes in the Loan Estimate or especially on the Closing Disclosure??? 

For these reasons, I am giving CrossCountry Mortgage a very poor rating and am filing a complaint with the Consumer Finance Protection Bureau siting the above grievances and requesting the following compensation : Requesting that the interest rate be adjusted to the true 2 points below the government reported interest rate for the date in question on XX/XX/XXXX when our rates locked in : XXXX XXXX. 

Requesting that we be refunded the {$950.00} additional funds paid at closing that were not disclosed prior to closing which were explained as an estimated full year of school taxes that the head office of Cross Country were requiring because we, the borrowers, were out of state.

Requesting that a hold be placed on CrossCountry mortgage to prevent and halt the dumping of our loan until this matter has been settled to the satisfaction of all parties. 

Sincerely, XXXX XXXX and XXXX XXXX XXXX

Company response to consumer: Closed with explanation