Consumer complaint received 2019-07-14
Company: CrossCountry Mortgage LLC
State: NV
Product: Mortgage
Sub-product: Other type of mortgage
Issue: Closing on a mortgage

Complaint:
I was contacted by Mr. XXXX XXXX. XXXX to do a refinance cash out process on my primary residence ( XXXX XXXX XXXX XXXX XXXX NV XXXX ) with cross country mortgage on or around XX/XX/XXXX. After several phone calls I finally agreed to do the refinance on or around XX/XX/XXXX. My intention was to expand my XXXX   business. I have been in XXXX business for about 5 years. Initially, I was told I must wait until XXXX to get the refinance going since I had a couple of late payments and one will fall of my record on XXXX. 
On XX/XX/XXXX, we started the process in an understanding of doing refinance cash out. The case was assigned to XXXX XXXX a sales assistant/loan processor to help me with the refinance. Upon starting the process, I was told the interest rate would be 6.375 % and the interest rate was locked. A couple of weeks later, I was informed the loan can not proceed with the interest rate that was given to me initially because " they ran into a snag '' on my loan that " the system is not liking the late payments ''. When I saw the email the new interest rate would be 9.110 %, I was very disappointed and inform them via email that I am no longer interested in and would like to withdraw my loan application. Not only I sent them an email, I conference call my friend Mr. XXXX XXXX, who has a better understanding of English language to help my communicate with XXXX XXXX. XXXX. 
Mr. XXXX called me the next day and asked me to come to his office so he can explain to me about the loan after I explicitly told him I have lost interest in going forward with the loan. The next day as requested by MrXXXX XXXX, I went to the office around XXXX XXXX to discuss my intention of withdrawing my application. After greetings, Mr. XXXX said " XXXX, you are nice guy, we like you and I want to help you '' and said so many things which I have a hard time understanding since English is my Second language. I have done my first refinance with Mr. XXXX in XXXX. Mr. XXXX also said, " He understand its a high interest rate and its a temporary thing and said I will be able to do another refinance in 6 months to get a lower interest rate ''. I trusted him since he did my first refinance the first time and when he told me " it is a temporary thing ''. 

Once the process started, the terms of the loan changed at least three times which makes it very confusing and difficult to understand. I had a hard time to understand the terms of the loan and have asked so many times and the answer I get from Mr. XXXX was " Don't worry ''. 

At closing, I asked the XXXX at XXXX XXXX, about the numbers, she told me " the {$2900.00} is about closing cost and the rest talk to Mr. XXXX ''. 

While everything was going on, I was out of work due to a medical procedure and Mr. XXXX was aware of everything. 

After signing, I contacted Ms. XXXX on XX/XX/XXXX, who informed me that I wasn't getting {$40000.00} as discussed but " they have paid my creditors '' instead. I was shocked and surprised, since at no point that paying the creditors was getting paid. Since I was not sure what she mean " I am only getting {$2900.00} '' and asked her to hold the line so I can get my friend Mr. XXXX, who asked her what does she meant by " only {$2900.00} '', she immediately refer us to Mr. XXXX. When we talk to him, he started to rant and shout. 
Mr. XXXX asked Mr. XXXX, " who in the right mind would consolidate a 9.45 % lone for 5 years on an auto and other loans which are 0 % financing and pay almost 10 % for 30 years? '' Mr. XXXX response was not only unprofessional but asking us to " Why we are asking so many questions after loan was closed and funded '' and " To discuss it among ourselves and he will call us in an hour ''. He never called and never answer my question. 

On Monday, XX/XX/XXXX, I contacted Cross Country Mortgage Inc. Headquarters in XXXX  and talk to a customer service representative about filling a complaint about the loan and the unsatisfactory results. The agent took my information and told me " a mortgage loan manager '' will contact me as soon as possible. I have not heard anything neither from Mr. XXXX nor a loan manager from Cross Country Mortgage Inc. 

I believe, Mr. XXXX and Cross Country Mortgage Inc. took advantage of my lack of knowledge in the process and knowing that I don't fully understand English, since English is my second language.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation