Consumer complaint received 2020-09-01
Company: Cornerstone Home Lending Inc.
State: TX
Product: Mortgage
Sub-product: VA mortgage
Issue: Closing on a mortgage

Complaint:
Hi My name is XXXX XXXX and I am writing this complaint of the poor service we received using Cornerstone Home Lending Inc. and would like to seek remedy of monies we lost on a deal with them that was directly caused by their incompetence and negligent behavior. We stated this process with them on XX/XX/2020. We had selected a home with a realtor, and she suggested Cornerstone Mortgage. In hindsight it was a bad judgement call to go off that type of recommendation, but this is my wife and I 's first time buying a home and we feel they took advantage of it. We were initially approved for a VA loan, as I am a XXXX XXXX XXXX XXXX XXXX XXXX Veteran and my wife and I wanted to use our loan eligibility to get our first family home for our two children and we were scheduled to close on XX/XX/2020. We were in constant contact with our loan officer and luckily for us a lot of this was done via text and email due to the pandemic. We were also in contact via phone, but I insisted on email after we were forced to move our closing date only about a week or two after we had signed the contract to XX/XX/2020. We were assured we would not have any other hang-ups, but I keep through documentation just in case. Then we were asked to change our closing date a third time by the mortgage company to XX/XX/2020 because they claimed they could not get a VA approved appraisal in time. At this point the seller would only agree to this if we released our earnest money and we had to put up new earnest money. We agreed but then got the shock of our lives when the loan officer emailed us and claimed to already have our appraisal, which we still havent seen, and sent us an email with the closing date of XX/XX/2020 and the sale price was not what we agreed upon in the contract. We asked about this and did not get a response until about 4 days later, granted two of those days was the weekend. Once we did get a response, we were told we would have a new closing disclosure before the weekend was over the following week. Then we get an email from our loan officer saying he need until the end of business Monday. At this point we are 5 days away from closing and we still have not gotten these documents. We finally received a Closing Disclosure on XX/XX/2020. We get to closing, which is the day I am writing this, and we received an email from our mortgage company with the closing date and time, which was XXXX XXXX. As we are doing the final inspection our realtor conveniently gets a call from our mortgage company saying that we would not be able to close at 3 and instead it would be at XXXX. At this point I am furious because it is the closing day and the mortgage company is still forcing us to move our closing time because they are unprepared. We get to the title company for XXXX XXXX and again we get a call from our realtor stating the loan officer told her we would have to close tomorrow XX/XX/2020 and we still have not received or even seen the appraisal.

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