Consumer complaint received 2016-02-19
Company: VANDERBILT MORTGAGE & FINANCE, INC
State: TX
Product: Mortgage
Sub-product: Other mortgage
Issue: Settlement process and costs

Complaint:
I purchased and closed on a manufactured house from XXXX XXXX of XXXX on XXXX. The deal began on XXXX with a deposit of {$500.00} ( Attachment A ). My wife and I were told that the money was only to be held as a deposit, or rather as earnest money. The check should have either been held, as promised, or applied at closing toward the purchase of the home. Neither was done, and the check was deposited by XXXX XXXX of XXXX on XXXX ( Attachment B ). 
The agreed purchase price was {$87000.00}, plus sewer, hook-ups, skirting, and pad. The total cost of the home was to be XXXX ( all inclusive ). I have provided evidence of the original agreement price, written in the hand of the general manager of XXXX XXXX XXXX XXXX, as well as additional agreed costs, written in my hand, as " Attachment C ''. At closing, the Sales Agreement reflected a base price of {$100000.00}, {$3800.00} more than the original agreed price. It is unclear where the additional monies came from, but the agreement was signed, under duress, as our residence had been sold, based on agreements with XXXX XXXX of XXXX. 
Buried within the first paragraph of the Consumer Loan Note and Security Agreement ( Attachment D ) is yet another figure of {$100000.00}. It is unclear how this figure was derived, and during closing, this figure was passed over with the amount receiving emphasis being {$100000.00}. This is not only a deceptive practice for the higher figure to be passed over at the time of closing, but it seems deceptive for the dollar amount to be hidden within a paragraph, instead of set separately and conspicuously like the lesser figure. Additionally, all of the amounts listed for the Amount Financed should be the same number. 
In the Truth in Lending Disclosure, Itemization of Amount Financed ( Attachment E ), the Amount Financed ( page XXXX, line XXXX ) is XXXX. This figure is derived from the seemingly arbitrary {$100000.00}, less {$3000.00} in Prepaid Finance ( page XXXX, line XXXX ). This was explained to me as a dealer incentive, and the offering was for {$5500.00}, as reflected in the Conditional Loan Approval from Vanderbilt Mortgage ( Attachment F ). This would have left a Finance Balance of {$100000.00}. The first mortgage statement came in reflecting a balance due of {$100000.00} ( Attachment G ). 
The origination fee listed in the Conditional Loan Approval ( Attachment F ) was {$2500.00}. The amount listed in the Truth in Lending Disclosure, Itemization of Amount Financed ( Attachment E ), is {$2800.00} ( page XXXX, line XXXX ). With all of the variable numbers in the closing documents and original agreement, it is not clear what number should be used, how it is calculated, or how it should be applied. 
Closing took place on XXXX. As of this date, the home that I contracted for has not been completed. I do not believe that the home that has been provided conforms to HUD regulations, at least not in its current state. The set up of the home does not conform to state or federal law, nor does it conform to the manufacturer 's requirements. The current state of the home is evidence enough of breach of contract. The punch list for the necessary repairs is included as ( Attachment H ). 
The dealer has not made an effort to remedy issues with the home, and complaints are being simultaneously filed with XXXX -- XXXX, XXXX, U.S. Department of Housing and Urban Development, Federal Trade Commission, and the Consumer Financial Protection Bureau. The final attachment to this complaint, " Attachment I, '' is the final correspondence sent to XXXX XXXX, which includes a list of items that have not been completed.

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