Consumer complaint received 2020-09-24
Company: MUFG AMERICAS HOLDINGS CORPORATION
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
I applied for a refi loan with Union Bank in XX/XX/2020. The process started off great, however, in the middle of the process the loan officer for a unknown reason was unable to be involved in the finalizing of the loan. Not knowing until XX/XX/2020 that the loan officer was on leave, per a discussion with her manager. I reached out several times in the process to speak with and communicate with her. I then reached out to her assistant, who was unable to properly manage the refi process. The loan processor reached out as well, to inform me that my loan had been extended, due to processing problem related to Covid pandemic. A list of requested information was provided to me in a email and all requested documents were submitted quickly. I set up a closing date in the month of XXXX and made plans to close with the titling company assigned. I reached out to the assistant again, because I had not received any information regarding my loan, such as a disclosure statement, closing cost amount, borrower 's closing fees, or the monthly payment for the refi. I had to cancel my closing date after proofreading my disclosure, because there were multiple mistakes noted. I also had a increased points charge, due to compounds not listed, as previously requested. My lender 's credit was not added to the loan and extension charges kept building. After canceling my closing date a second set of disclosure documents were sent to me via email and they too were incorrect again. I was never provide the opportunity to discuss the documents or the completion of the refi with someone one-on-one. After the additional charges and the poor communication and repeated mistakes, I decided to withdraw the loan. Though my efforts of reaching out to the loan officer 's assistant I was able to voice my frustration with the process. I felt because this was my first refi, that it should have been more personal and done a lot sooner. Also, recognizing that no other loan officer had been put in place to facilitate me in the process. I asked the assistant to have her manager give me a call. A return call was made after hours, so I had to return his call the next morning. The call was to a personal cellphone, which I thought was very unusual, because it would not be legally recorded. However, I discussed my frustrations with him and requested to withdraw my application because nothing was being done correctly and in a timely manner. On XX/XX/2020, after my complaints and frustrations were discussed he offered to go over the disclosure with me. Prior to this no one had been in place, to do that. I felt I did not deserve a last minute rush job on a refi loan. I told the manager that I would prefer to withdraw my loan for this reason, and would like my application fee refunded, as a courtesy. He refused and offered to discuss the loan for closing only. I told him, because of the unprofessional experience I had up to now, I was not interested in pursuing the loan any further. He was very matter of fact about the whole situation. So I asked him to provide me with the customer 's relations department representative. I discussed with her the same frustrations and complaints I had previously discussed with the manager. She too, offered to go over the disclosure with me and stated that she could offer a credit of my application fee, at closing, as a courtesy. Again, I shared with her my frustrations and requested an application fee refund, because of my feeling about the whole experience. She stated that she would present the request of a refund for the application, but because the application fee is non-refundable that it probably would not be honored. She stated that she would get back with me by the end of the day or the following date. No return call on XX/XX/2020. So I reached out to her this morning, and she stated that the refund was rejected, but that the offer of closing my loan and refunding the application fee at the closing was the only offer. I requested to speak with someone else about my experience. I feel that the process took too long, no loan officer was assigned to complete my loan, a loan extension was given without notice, fees were passed on to the customer ( points ), and the customer requiring to withdraw the refi loan because of the frustrating process, hold the customer to a binding contract because of the bank mistakes, and refusing to refund the application fee unless the customer closed their loan with the bank is very unfair to the customer. I am writing this complaint because of a unfair process to a customer ( myself ).

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