Consumer complaint received 2018-06-22
Company: ROYAL UNITED MORTGAGE LLC
State: PA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
Mr. XXXX I need the name of the President of this Company - XXXX XXXX or something, The VP - XXXX XXXX ( sp? ) XXXX, did not think my calls warranted enough attention to call me personally. Must be too busy getting associates to call within three minutes of a XXXX XXXX Inquiry. 

I wish to file an official complaint for the horrendous and what I view as fraudulent practices of Royal United Mortgage LLC. 

So Ill Start with 1. The Consumer Financial Protection Bureau 2. Then check Regulation Z of the Federal Truth in Lending Act and submit my issues.

3. Then see if FHA, XXXX XXXX or XXXX XXXX can, with their expertise in mortgages I lack, review the 4. Finally XXXX XXXX where this mess all started. 
5. I am formally requesting a transcript of the calls made to and from Royal United Mortgage as well regarding this loan application.

Home mortgages are one of the most important and financially significant decisions a person will make. I was mislead, I was provided documented, wrong and inaccurate information both in emails and taped phone conversations, and the whole situation has been handled as poorly by Royal United Mortgage as possibly could be.

I would hate for unsuspecting other people to have to go though similar circumstances with a financial decision of such significance.

I will provide a complete email trail along with my comments. The emails, along with the recorded calls should allow the regulatory agencies to make a decision they are much more educated about this mortgage process to review and see if things were done per law, or if from my uneducated mortgage background, just a sweat shop sales shop. I do not know the regulations so I will yield to their expertise.

Three weeks after being reassured All looks well, should be no problem, and after forking out {$420.00} for a home appraisal, with significant pressure tactics, I get an email yesterday from Royal United I have to pay off {$10000.00} in debt We need these two debts paid off before we can close : From : XXXX XXXX Sent : Thursday, XX/XX/2018 XXXX XXXX  To : XXXX Subject : Two Debts -- Need Paid Off Before We Can Close Importance : High Sent from Mail for XXXX XXXX From : XXXX XXXX Sent : Friday, XX/XX/2018 XXXX XXXX To : XXXX ; XXXX XXXX ; XXXX XXXX Subject : RE : Two Debts -- Need Paid Off Before We Can Close Take whatever action you feel is appropriate, as we have done nothing wrong to you. We have made every effort to provide you the services you came to us for. Our policy is that we do not share our internal records. Consequently, you should not expect to receive the recordings. I, and the rest of the Royal United team, wish you all the best in your endeavors. 

Regards, XXXX XXXX Regulatory Compliance XXXX Office : ( XXXX ) XXXX | Fax : ( XXXX ) XXXX Royal United Mortgage LLC. NMLS # XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX, IN XXXX Equal Housing Opportunity From : XXXX [ XXXX : XXXX ] Sent : Friday, XX/XX/2018 XXXX XXXX To : XXXX XXXX XXXX ; XXXX XXXX XXXX ; XXXX XXXX XXXX Subject : RE : Two Debts -- Need Paid Off Before We Can Close External e-mail, think before clicking a link or opening attachments. 
Mr. XXXX I certainly am no loan expert. So I will refer this to the original regulatory folks I indicated in the letter. I need their expert advice as well as that of Royal United Mortgage, so I will need to get the transcripts of all these calls since there is so much information going around. Again I am formally requesting these transcripts and would like to know when I can expect top receive them. 

I am not sure about the details of your summary below since this of course is something folks like me dont do but probably for a few times in their lifetimes, so, though some of the things you list below sound strange and untrue, again the loan jargon is a bit of a new world for me. Hence the need for transcripts and to have regulators independently review. 

Maybe you folks did, as you insist, everything correctly. To me it all just seemed like high pressure boiler room sales talk. 20 Years in the Financial Services industry certainly presented the best and worst of sales folks Thanks for the response. I am sure well be in touch. Please give me a timeframe on getting the phone transcripts so I/we can move forward to getting this independently reviewed. 

Best Regards Sent from Mail for XXXX XXXX From : XXXX XXXX Sent : Friday, XX/XX/2018 XXXX XXXX To : XXXX ; XXXX XXXX ; XXXX XXXX Subject : RE : Two Debts -- Need Paid Off Before We Can Close We spoke for 30 minutes on the phone  yesterday morning about your loan. You shared with me that you were committed to getting the loan done for your daughter. We talked about how your liabilities were a challenge and that we would likely have to pay something off to have your debts in line for your income to support a 15 year payment. I specifically spoke of the {$9500.00} in assets we had verified and asked if you would be willing to bring money to closing to make this loan work. You shared with me that you would be willing to bring money to closing and could put together additional money if needed beyond the {$9500.00}. As a side comment you said that you would be willing to pay down the loan to {$60000.00} if it meant making this loan work. We would not have spent the time to put together the option if you had not shared that you were willing to consider an option that required you to bring significant money to closing. The option you were offered by Mr. XXXX yesterday is the option you came to Royal United for. It significantly reduced your interest rate. It put you in a 15 year term. Im sorry that youve changed your mind but we are at a total loss of what else to do for you. If there are other options you would like to see, please let us know. 

Mr. XXXX has been instrumental in making sure I called you yesterday and making sure XXXX put together the new loan option for you. He has been following your situation closely. However, based on the communication youve had with Mr. XXXX, Mr. XXXX, and myself ; there is no value Mr. XXXX would be able to add to the discussion. Weve shared with you everything there is to say. The chain of e-mails you provided shows an honest lender working to get the financing you requested. We stand by the work that we do. 

If you would like to pursue getting assistance from another lender, we would be more than happy to transfer your appraisal to them to assist with that. Let us know if you would like to go that route. 

Regards, XXXX XXXX Regulatory Compliance XXXX XXXX : ( XXXX ) XXXX | Fax : ( XXXX ) XXXX Royal United Mortgage LLC. NMLS # XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX, IN XXXX Equal Housing Opportunity From : XXXX [ mailto : XXXX ] Sent : Friday, XX/XX/2018 XXXX XXXX To : XXXX XXXX XXXX ; XXXX XXXX XXXX ; XXXX XXXX XXXX Subject : FW : Two Debts -- Need Paid Off Before We Can Close External e-mail, think before clicking a link or opening attachments. 
Greetings XXXX This mortgage process has just crossed a line to which I view as unacceptable See attached, this is the worst Company I have dealt with in many years. Kind of stunning your VP XXXX - doesnt return phone calls. Too busy for client issues? Seems to be basic bad judgement but I am certainly no mortgage expert and maybe this is the way things are handled in the mortgage industry. After three weeks of everything is fine your experts yesterday tell me I need to come up with {$10000.00}, and WHEN WILL I DO THAT. ALL I WANTED WAS A SIMPLE 15 YEAR MORTGAGE FOR MY DAUGHTER AND HER XXXX YEAR OLD SON XXXX XXXX XXXX Sent from Mail for XXXX  XXXX From : XXXX XXXX Sent : Thursday, XX/XX/2018 XXXX XXXX  To : XXXX Subject : Two Debts -- Need Paid Off Before We Can Close Importance : High XXXX, We need these two debts paid off before we can close : Please let me know the game plan and on when you can get these paid off. 

Thanks and XXXX bless, XXXX XXXX Loan Advisor NMLS # XXXX XXXX Office : ( XXXX ) XXXX | Fax : ( XXXX ) XXXX Royal United Mortgage LLC. NMLS # XXXX XXXX XXXX XXXX XXXX XXXX, | XXXX, IN XXXX Equal Housing Opportunity

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 non-monetary relief