Consumer complaint received 2023-06-27
Company: Academy Mortgage Corporation
State: UT
Product: Mortgage
Sub-product: Other type of mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
Academy Mortgage was untruthful in the response to the CFPB regarding complaint number XXXX. I am submitting documentation that contradicts their responds. 

Regarding XXXX Complaint No. XXXX against Academy Mortgage. 

Academy Mortgage response XXXX. 
AMC ( Academy Mortgage Corporation ) is untruthful when they say that everything was going smoothly until XX/XX/XXXX. As per attached emails page XXXX to loan office XXXX XXXX asking for help on XX/XX/XXXX which was 4 days after we arrived back in town from vacation. While out of town the builder had poured our basement foundation which according to our plans was supposed to be a daylight basement ( plans attached page XXXX & XXXX ). Once we returned and saw that the basement was a full basement and not as our plans showed we immediately notified AMC via phone and email and sent pictures ( attached ). I informed AMC that this was not correct and asked them not to pay the builder. I told them that I would pay the subcontractors, if necessary, out of our pocket because we did not owe anything on our construction loan at that time. AMC was reluctant to listen and said we would need to take this up with the builder ( email page XXXX ). Our closing documents require all changes to the building plans to have a signed change order ( page XXXX ) no changes where ever approved by us or AMC. With this said the basement poured required us to pay for over excavation, more gravel and French drain system which added cost to our build and not in the plans. This was also not approved by us. 
AMC continued to pay the builder after we told them not to we had an Attorney involved. AMC was asking the builder for invoices all the way up to XXXX XXXX. XXXX ( See attached email thread page XXXX ). When asked why they replied we signed an Authorization to Draw giving the builder the right to draw on our behalf. We were misled by XXXX title company which is who AMC uses and they are in the same building as AMC. The builders name was printed on option XXXX and they told us we had to sign just to give the builder permission to draw ( page XXXX ). This went against our contract with the builder ( Addendum XXXX which states we had to sign and approve any and all draws ( see attached XXXX ). 

AMC was reluctant to monitor the bills that the builder submitted and paid double invoices without questioning. I contacted some of the contractors and collected money back for AMC ( see attached page XXXX ). One of the builders subcontractors that was paid double sent a check back to the builder and AMC didnt ask the builder to pay it back instead let the builder deduct more double bills and wanted the builder to send a check to us for what was left. This is poor bookkeeping on Academy Mortgage. ( See attached emails and check pages XXXX & XXXX XXXX ). The money should have gone back to AMC with backup for the bills they claimed were outstanding. 
AMC also paid the builder over the 10 % profit that was agreed on in our contract ( see attached contract with addendums page ) I have attached ( page XXXX ) a worksheet of all the builders draws and how much AMC should have paid ( {$7400.00} ) vs how much AMC paid ( {$8700.00} ) overpayment of {$1200.00}. AMC never corrected this error. When I contacted AMC about this, they offered to give us an extension on our loan saying that the extension was worth more than the amount the builder owed us ( email page XXXX ). In AMC response to the CFPB they said it was extension to find a new builder. This was not true. AMC was going to charge us a fee for the 90 day extension one way or another nothing was free to us. ( Email XX/XX/XXXX page XXXX ) AMC response to CFPB that on XX/XX/XXXX there was a disagreement in the window placement in the foundation. This is also a false statement. The Windows had never been delivered to the property and had never been placed in the foundation. We sold the property in XXXX of XXXX and still did not have the windows in our possession. AMC paid for the windows plus a delivery fee out of our construction loan. According to our closing documents ( page XXXX and page XXXX ) this was not supposed to be paid in full until the windows were delivered and placed in the home and inspected which never happened. The windows where finally delivered in XXXX of XXXX to the new owners of the property. 
See attached for sale listing and pictures. 
AMC continued to send important documents up to XX/XX/XXXX to the builder after they knew he didnt work for us. Attached page XXXX. Soon after selling our property AMC sent a refund check for {$1000.00} with no explanation and the Promissory note stamped paid and also stamped WITHOUT RECOURSE. As of now I have not cashed this check because I feel they are in fault of miss use of our funds. I feel Academy Mortgage owes us compensation for this loan and hardships it has cost us. Academy Mortgage needs to own up to their mistakes. 

I am requesting that the CFPB look into all of the documentation that I have provided along with the closing documents that dont add up and investigate Academy Mortgage for the way they handled our situation and our money.

Company response to consumer: Closed with explanation