Consumer complaint received 2021-03-24
Company: Filo Mortgage, L.L.C.
State: VA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
On XX/XX/XXXX, I first reached out to XXXX XXXX ( Loan consultant, NMLS # XXXX ) to inquire about the process and rates for refinancing my mortgage. After conducting my due diligence and shopping for rates, I decided to apply and submitted requested documentation for my rate lock with Filo Mortgage LLC ( NMLS ID # XXXX ) on XX/XX/XXXX. 

On XX/XX/XXXX, I was sent initial disclosures and a list of additional documentation required. I submitted the additional documentation on XX/XX/XXXX ( same day ) and signed disclosures on XX/XX/XXXX. I followed up with XXXX on XX/XX/XXXX and confirmed no additional information was required. XXXX informed me that the loan would be submitted to underwriting today ( XX/XX/XXXX ) and initial approval should be received within 48 hours. 

On XX/XX/XXXX, I was introduced to XXXX To from the processing team ( NMLS ID # XXXX ). XXXX asked me for additional documentation and a signature on borrower authorization. I provided all additional documentation and signatures within 48 hours on XX/XX/XXXX. I did not hear back from XXXX and followed up on XX/XX/XXXX to see if any additional information was needed. On XX/XX/XXXX, he requested a point of contact for my XXXX which I provided within 5 minutes. The following few days, there was some back and forth with XXXX regarding contacting my HOA. 

I followed up with XXXX on XX/XX/XXXX no rpely. I followed up again on XX/XX/XXXX and he replied and confirmed that documents were ordered by the team on XX/XX/XXXX I thanked him for his response. On XX/XX/XXXX, I followed up for an update and received a response that documents were received and uploaded to underwriting for review I thanked XXXX for the update. 

On XX/XX/XXXX, I received a Loan Estimate from XXXX XXXX XXXX XXXX ( attached ) that noted the interest rate ( 2.75 % ), cash to close ( {$3200.00} ) and total closing costs ( {$4700.00} ). I signed the document and returned it within 24 hours on XX/XX/XXXX. This is the last formal communication that I received from XXXX XXXX XXXX XXXX or Filo Mortgage. 

On XX/XX/XXXX, I followed up with XXXX for an update no reply. On XX/XX/XXXX, I followed up with XXXX for an update no reply. On XX/XX/XXXX, I followed up with XXXX and CCd others from the organization. XXXX replied I am having my team lead escalate a review from underwriting for the condo documents. This shouldve been done last week. I do apologize for the delay. I did not hear back for several days. 

On XX/XX/XXXX, I followed up with XXXX and the team for an update no reply. On XX/XX/XXXX, I followed up with XXXX and the team for an update and expressed my frustration for not receiving a status update and copied the COO of Filo Mortgage, XXXX XXXX ( NMLS # XXXX ). XXXX responded and asked XXXX to reply to me. On XX/XX/XXXX, I received an update from XXXX that he was working on getting my loan relocked and that we should be cleared with underwriting. He asked me for updated paystubs. I responded within 15 minutes with the requested documentation attached, and asked for an update on timeline, what steps and remaining, and why it was taking so long to close no response. 

On XX/XX/XXXX, I followed up with XXXX and team for an update no reply. On XX/XX/XXXX, I followed up with XXXX and team for an update. I did not hear back from XXXX, but received a response from XXXX who noted he was having internet outages and was unable to access my loan. He said he would contact me ASAP. After not hearing back, I escalated the issue to XXXX XXXX ( Director of Customer Experience, NMLS ID # XXXX ) She said she would follow up to help me receive a response and status update on my loan. After not hearing back again, I sent XXXX a follow up email on XX/XX/XXXX. He replied that he finally had his internet back and asked if we could speak over the phone. 

I called XXXX on XX/XX/XXXX. During this call, I was informed that the terms originally agreed upon for the refinance could not be honored due to fault of Filo Mortgage and an inability to address issues with underwriting in a timely manner, which ultimately lead to a rate lock expiration. XXXX explained to me that the first underwriter he approached requested additional documentation. He noted that Filo Mortgage deemed it unfair to ask me for additional documentation, and thus I was not informed of the issue and the company made a decision to work with a second underwriter without informing me. While XXXX and team were working with the second underwriter, the timing for the rate lock extension expired. We also recapped that during this 2 month process, I reached out to the team several times to ask for the status of my loan, confirm if anything additional was needed from me, or if there was anything I could do on my end to help. XXXX agreed that during the process, I never received noticed a notice of action, mortgage commitment or denial, change of circumstance, or was informed of any issues with my loan. He apologies and accepted responsibility, mentioning the company dropped the ball. 

In response, I explained my frustration and refused to pay the additional amount given that the fault for delays was not mine. I requested the issue be escalated for resolution and that concession be provided so that the original terms would be honored. XXXX agreed to escalate the issue directly to his CEO. I did not hear back. 

On XX/XX/XXXX, I received Closing Disclosures via email without any email/phone call/explanation to follow up on our escalation conversation. The documents included the rate ( 2.75 % ), closing costs ( {$13000.00} XXXX, and cash to close ( {$17000.00} ). Thrown off that these numbers were further different from my conversation with XXXX, I emailed him to document our email phone conversation and ask for context surrounding the closing disclosure I received via email. On XX/XX/XXXX, XXXX responded that the disclosures were wrongfully sent as a compliance function, were incorrect, and should be disregarded. I thanked him for his response and reminded him that I was awaiting an update on the escalation of my loan. 

On XX/XX/XXXX, I received an email from XXXX To that my loan was ready for closing. He requested 2 months of bank statements to evidencing sufficient funds estimated at {$14000.00} yet again a new number. I replied to question the nature of the request and the number. No reply from XXXX. 

On XX/XX/XXXX, I received a reply from XXXX asking if I was available for a phone call. I replied that I had a busy day and would rather communicate via email. 8 hours and 2 follow up email later, I received an email from XXXX that the XXXX pledged he will be able to offer a concession totaling .75 % of the loan XXXX {$3900.00} towards closing cost ). He outlined that my new estimated closing costs were {$9200.00} yet a new number without paperwork or disclosures to back it up. 

On XX/XX/XXXX XXXX yesterday ), I replied to XXXX email to express my frustration and confusion with the various numbers and sources for information. I also articulated my original request to see a concession made in full to honor the terms of our original agreement on the basis that Filo Mortgage took responsibility for the delays leading to rate lock expiration. I called XXXX later that day to communicate the same. He apologized and informed me that the decision is above his pay-grade and if it were up to him, he would provide the full concession and work towards closing. 

I am filing this complaint after that conversation on the basis that Filo Mortgage did not appropriately communicate with me throughout the process of applying and closing on my refinance. I was not made aware of any issues with my loan, delays, or changes of circumstance that would cause my loan not to close on time. Furthermore, I have not received any notice of actions including a mortgage commitment, conditional approval, or denial in the over 90 days since when I completed my application. To date, I do not have an understanding of the changes in cost that Filo Mortgage intends to charge me as a result of their delays. 

*Please note, I've attached key communications to the complaint but am happy to provide and further materials and full conversation records as needed.

Company response to consumer: Closed with explanation