Consumer complaint received 2015-07-21
Company: United Shore Financial Services, LLC
State: MA
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Settlement process and costs

Complaint:
This is the outline of events through my loan closing - I was required to come up with an additional {$7200.00} that was never agreed upon or disclosed to me. Will also attach GFE that was signed, along with HUD that matches the signed GFE and the actual HUD from the day of closing where you can see in Section L, item XXXX changed XXXX XXXX. our credit was reduced from over $ XXXX to only {$830.00} XXXX. 

Mortgage " Lender '' - United Wholesale Mortgage ( UWM XXXX Mortgage " Broker '' - Superior Rate Mortgage XXXXHome purchased - " XXXX '' XXXX/XXXX/15 - email from Broker letting me know the Disclosures are ready to sign ( online for electronic signature through UWM web portal ). XXXX page document that included fee compensation for Broker, a GFE, and breakdown of what fees were covered at closing by Broker/Lender/Borrower. 

XXXX/XXXX/15 - returned ink-signed portion of disclosures. 

XXXX/XXXX/15 - XXXX page Truth In Lending XXXX TIL XXXX disclosure sent that shows APR, finance charge, amount financed, total payments over loan lifetime, interest rate, & breakdown of monthly mortgage payment. 

XXXX/XXXX/15 - Were notified late afternoon that there would be a XXXX week delay in the closing sale of my condo which would in turn delay the closing of XXXX ( issue on my Buyers side ). Called my Broker immediately to inform of the delay in XXXX closing. Was told that 'we can extend your rate lock and wo n't charge you so do n't worry about that, it wo n't be an issue '. Went forward like nothing had changed. 

XXXX/XXXX/15 - XXXX page TIL sent over XXXX no one alerted to this coming and there was a lot of paperwork re-sent as the closings were delayed ). Looking at it, not much seemed to change. Overall expected monthly payment went down about {$15.00}. 

XXXX/XXXX/15 - Day of closing, attorney informed that it looked like my closing costs had gone up XXXX $ XXXX. Looking further into this, my original GFE on the disclosures that were signed XXXX XXXX/XXXX/15 XXXX showed an origination charge of {$7200.00} and a credit ( benefit ) for the interest rate chosen of XXXX {$8000.00} XXXX. The HUD statement sent over that morning to my lawyer showed the same origination charge but the credit was reduced to ( {$830.00} XXXX. This was a reduction of {$7100.00} that I was required to come up with. As stated on the HUD statement, these are fees which can not change - their new HUD shows that credit as on the GFE and on the new HUD, looking like there is no change but I have many documents showing otherwise ( all are attached ). I was never given a new GFE and asked to sign off on the newly disclosed fees which was extremely misleading. The situation was compounded by the fact we had no contingency to purchase the new home XXXX separate issue we already dealt with, poor guidance from realtor ) - the situation now became pay the additional $ XXXX in costs to the Lender OR lose {$18000.00} deposit/fees already put into the new home and be homeless ( condo was sold XXXX days prior and was living in a hotel ). My situation was well known to the Broker prior to the closing day. 

Another piece of evidence that this loan was not being properly handled was the fact that my Broker informed he was 'waiving ' his commission XXXX around {$1500.00} XXXX to help this continue forward. However, my lawyer let me know that the loan would not have been approved unless this fee was waived which would bring down my closing costs. The Lender had not only INCREASED my settlement charges and not disclosed the new fees to me, but then never processed my loan application with the new fees to make sure it would even still be approved. This turned into several hours of back & forth until the loan was approved all while sitting at the closing in my attorney 's office with the Sellers present.

Company response to consumer: Closed with explanation